Meeting Margaret Hirsch

I am unashamedly in awe of successful business people, especially South African businesswomen who have built themselves up from scratch.

Margaret Hirsch, Owner of Hirsch’s* is one of those incredibly dynamic businesswomen that I have a huge amount of admiration for.  When it comes to building a successful empire, I knew I could learn a lot from her...

Earlier this year, I asked Margaret what it takes to build a dynamic staff compliment, upon which I was kindly invited to an induction session of new employee members – an opportunity I would definitely not miss!

When Margaret speaks, people listen. I listened and took notes… a lot of notes.

It was SO refreshing to see Margaret engage with the new recruits, and speak very honestly and candidly about her background, earnings and the culture at Hirsch’s. Employees are encouraged to think out of the box and look for opportunities that come their way. It is clear that all employees are given something more than just ‘another job’ to go to; it is a way of life and a career they enter at Hirsch’s. These days you can’t just be mediocre, you need to be excellent at what you do, there are a lot of people out there who are willing to work hard, and want the job you have. Yes, there are set rules, policies and governance structures in place (there would have to be to make sure that service levels are constant across all branches) – yet, within these parameters, employees still have an opportunity to be creative, seize opportunities and come up with innovative ideas. As Margaret says, “the more you think, the more money you can make.”

One of the most powerful exercises of the morning was when everyone (including me) was given a blank cheque to write in their ideal salary. I put in a figure including five zeros, thinking that that would be quite a nice monthly salary. As Margaret went around the room and I listened to the different amounts shared, she said that we were all thinking way too small; and shared what she earns purely from rentals that come in from the property she owns.

In order to make money, you need to come to work. She does not do very well with excuses, having only ever taken three days off in her whole working career! “The most important thing you have to do is come to work. You can’t decide 'I’m not going to work, it's raining, I don’t feel well'. It does not work that way. If you don’t come to work, God does not throw the money out of the sky for me to pay you. If you don’t come, I at 64 have to come to work and work twice as hard to pay you a salary. Now how long do you think I’m going to do that for?” The answer is not very long. If you are not going to make it to work for whatever reason, you need to call Margaret directly on her cellphone before 07:00.

Margaret’s lifestyle really resonates with me; I’m quite pleased that there are already a couple of similarities.

Her day looks something like this:

Starts at 04:00 and meditate until 04:30 | Shower and get ready | 05:00 – 06:00 go to gym | have another shower | and get dressed | come to work.

“Why do I go to gym? I don’t want to be fat and frumpy!  Exercise is really important – if you exercise you will be happy and healthy and won’t need Prozac. You have to exercise, even if it means just running around the block or walk around your house, you have to do exercise in the morning. When you get ready for work, every morning make sure that you have the right mental attitude and are dressed for success.”

Giving back is very important, and Margaret makes a point of giving 10% to charity. She says that people will say that they can’t afford 10% -“you can’t afford not to, every time you give to charity you say thank you to the universe for giving to me – it is a way of being grateful – if you are grateful you get more things to be grateful for.”

Being able to live within your means and managing your money is another life lesson Margaret shares with new recruits, saying that many people are in debt because they buy things they can’t afford. Besides giving 10% to charity, 10% should be put away for a rainy day; you never know when you are going to need it and you need to invest 10%.

One of the (many) favourite things Margaret shared at the session was when she said, “How terrible is it to be broke? Probably the worst thing in the world, it’s a terrible feeling, I know I’ve been there. What’s worse than being broke? Being stupid, it’s terrible if you are broke and stupid, what’s even worse than that? You’re ugly. Broke, stupid and ugly, doesn’t get much worse than that – I don’t want you to be there. I am going to teach you how not to be broke.”

One of the other exercises was to set SMART goals and also to do a vision board, something that I encourage our team to do as well. In fact I have recently added a couple more pictures to my own vision board and look at it on a daily basis.

So what have I taken from this experience?

• Think big! Always be on the lookout for opportunities. It does not matter where on the hierarchy within the organisation you are;
• Surround yourself with positive, successful people;
• Use your brain to make money so that you are not broke! and live within your means (If you can do this you won’t be broke or stupid and you’ll have money to invest in how you look!);
• Be grateful to the universe; meditate daily (Margaret said that she meditates because praying means you are talking to God; meditating is God talking to you), and give to charity and
• Exercise your mind and body and value your time and how you spend it.

*Hirsch’s, has become a household name over the years – and a name synonymous with great service and brand excellence. They are proud of their position as the largest independently owned appliance and electronics business in Southern Africa, and with seventeen branches and concept stores spread throughout South Africa, they are a force to be reckoned with. 
An appliance repair man and a secretary who unwittingly became entrepreneurs, Allan Hirsch and his wife Margaret started their family run appliance business in a tiny showroom in Umhlanga Rocks Drive, Durban, in 1979 with just R900 that they had saved.
Today Hirsch’s has grown into a chain of mega appliance electronics and home furnishing stores in KZN, Cape Town and Gauteng.   By the end of 2012, Hirsch’s topped the R1 billion turnover milestone. Hirsch’s continue to expand their reach in South Africa, with new branches and concept stores opening in Gauteng and Cape Town in the next two years.