Pearl More CA(SA)
Unlocking the Power of Social Entrepreneurship and Business Coaching
In Episode 1 of Season 2, we delve into complex business topics with ease. In this episode, host Luncedo Mtwentwe sits down with Pearl More, a forward-thinking Chartered Accountant (CA) and the Founder & Director of More and Associates. Pearl's journey from a CFO to a social entrepreneur and business coach offers invaluable insights for small to medium enterprises (SMMEs).
Pearl defines social entrepreneurship as a venture that addresses social challenges through sustainable solutions. She emphasises the importance of aligning business goals with the Sustainable Development Goals (SDGs), specifically SDG 8, which focuses on decent work and economic growth. "Social entrepreneurship has a positive impact on the social challenges that people face on a day-to-day basis," Pearl explains. Her passion for SMME growth led to the establishment of More and Associates in 2020, amid the lockdown, showcasing her resilience and commitment to making a difference.
From CFO to Business Coach
Her transition from a CFO to a business coach was driven by her firsthand experience with the challenges faced by SMMEs. As a CFO of a law firm, she witnessed a significant revenue increase but also encountered compliance issues. "They needed a chartered accountant to come in and give advice," she recalls. This experience sparked her passion for business coaching, as she realised the critical role of guidance in maintaining financial compliance and business growth
A common sentiment among SMMEs is that they are "over-coached and underfunded." Pearl acknowledges this but highlights the necessity of compliance for securing funding. "The role of the coach is to walk the journey with you and ensure that by the time you submit that application to the funder, you are 100% ticking all the boxes," she says. Business coaching is likened to a sports coach guiding players to the finals – it's about discipline, continuous improvement, and achieving long-term goals.
More further clarifies the distinction between coaching and mentoring. Mentors are individuals who have walked the entrepreneurial path and share their experiences and insights. Coaches, on the other hand, are actively involved in guiding entrepreneurs through their business journey. "A coach is there with you, walking the journey with you daily," Pearl explains. The combination of both can be immensely beneficial, providing strategic advice and practical guidance.
Finding a mentor in South Africa can be challenging due to limited accessibility. Pearl advises entrepreneurs to identify role models within their industry and reach out through professional networks. "Shoot your shot," she encourages, emphasising the importance of crafting a unique and aligned message when seeking mentorship.
One of Pearl's missions is to make business coaching accessible to SMMEs. She dispels the misconception that business coaching is unaffordable, pointing out that many corporate and social enterprises offer free coaching services. "You need to know which network to belong to in order to have access to a business coach," she advises. Entrepreneurs should leverage these opportunities to gain valuable insights and support.
The coaching process begins with diagnosing the core issues within the business. "How do you know that your taxes are in shambles?" Morel asks, emphasising the importance of identifying the root problems. Once diagnosed, a tailored program is designed, and the coach works closely with the entrepreneur to implement solutions. The commitment and cooperation of the entrepreneur are crucial for achieving the desired results.
More also recommends seeking a coach or forming an advisory board as soon as the business is formalised. An advisory board, comprising experts in finance, HR, and IT, can provide strategic advice and support. Entrepreneurs should assess their needs and resources to determine the best approach for their business.