‘You don’t have to start your own business to create wealth,’ write PJ Botha CA(SA) and his brother, Geo, presenters of the TV series Welvaartskeppers (wealth creators), in their first book, Word Ryk, Bly Ryk.
In their insightful book, the brothers Botha endeavour to teach ordinary South Africans how to make money in a challenging environment and make it grow. The authors’ sound expert financial advice, aimed at cultivating good habits, directs your focus and supports you on your journey to wealth. They also write that you don’t necessarily have to start your own business to create wealth. According to them, it is how you think about your finances that matters, and you’ll also quickly realise that wealth is about more than just money.
Teach them when they’re young
PJ and Geo believe that one of the biggest mistakes families make regarding money is not talking about it. ‘By involving children in financial matters from a young age and explaining to them how a budget works, they learn how to deal with finances,’ says PJ. Topics like successful retirement, pensions, investments, trusts, wills and determining the legacy you want to establish are also addressed in their book.
PJ, who lives in Pretoria with his wife and two children, is a certified financial planner, director at Bovest Wealth Management, writer, podcast host and realist.
At school he realised he has a natural talent for maths and accounting and therefore decided to follow a career in finance. ‘In high school I didn’t read much fiction. I mostly read books about business and finance. With my father also working in the world of finance, I got a lot of exposure to it, which piqued my interest. It naturally lead to me studying accounting and I can’t think of a field other than finance I’d rather work in.’
The road to success
‘I am grateful that I decided to become a CA(SA). It creates so many opportunities and opens so many doors. It gives you so much knowledge that you can work in any field. Being a CA(SA) also proves to clients that you know a lot about finances, especially when you have just started your career,’ says PJ.
He would definitely encourage CA-hopefuls to finish their qualifying journey. ‘It is hard work, but it is something that you will have throughout your career and is worth the struggle.’
After gaining the necessary experience as a clerk, he joined the family business in 2013 and currently serves as head of the company’s investment division.
At work, PJ, Geo and their father, Riaan, often discuss strategies and processes employed by successful clients in various industries, with the realisation that this knowledge is worth sharing.
Working with family does bring certain challenges. ‘However, we give each other space to specialise in our areas of expertise. I am more involved in the operational and finance side and my brother, Geo, with marketing and sales. The benefit of working with my father and brother is the instant trust relationship. You also know you can disagree about certain things, but at the end of the day, you are still family,’ explains PJ.
In 2020 the three released their first book, Welvaartskeppers, with father Riaan as the main writer.
Helping others is the key to success
After the success of the book, the brothers felt compelled to share the knowledge with a wider audience, which led to the creation of their kykNET-series Welvaartskeppers. PJ is the co-producer and -anchor of the show, which aims to share useful tips, practical advice and the experience of successful money-makers.
In July this year, the brothers penned another book called Word Ryk, Bly Ryk, which focuses on the four phases of the wealth-creation cycle.
Adaptability is one of PJ’s biggest strengths, which is why he can wear so many different hats. As director he oversees Bovest’s finances and growth, as advisor he sees to the needs of clients and leads them to the best possible decisions, and as industry expert he is responsible for the management of client funds and portfolios.
Because PJ is a strategic and analytical thinker, he is passionate about processes and systems and is constantly searching for innovative ways to grow and improve the business. Over the past decade, he has been instrumental in growing Bovest from a one-man show to a medium enterprise.
PJ firmly believes that helping others is the key to personal success. Although people like Peter Mallouk (Creative Planning) and Ron Carson (Carson Wealth) inspire him, his father, Riaan, is his role model. ‘Not only is he so comfortable in his own skin, he has always managed to find a work/life balance. I believe his good, caring heart is the secret to Bovest’s success,’ shares PJ.
‘Some people have received more talents and/or opportunities and therefore have a responsibility to help those around them. It is better for society if you and your neighbour can both achieve more, rather than you alone.’
Because PJ himself is inclined to overthink decisions, the best business advice he has ever received is not to think and plan too far in advance. ’You have to focus on the present and do your best in the moment,’ he explains.
Equity / net asset value
These are complicated terms for a simple concept: all your assets minus your liabilities. The aim of each business, and for you personally, is to increase your equity each year.
For example, you buy a new vehicle every year by trading in your old car and financing the difference. It might feel as if you have more assets and the world thinks you are ‘rich’, but your assets haven’t really increased, because your debt has increased. In truth, if the vehicle quickly loses its value, you will be worse off next year because the value of your asset has decreased more quickly than your debt.
The way you think is the most important aspect of business management. Whether you are a business owner or not, you have to think as one when it comes to your personal finances. Only then can you manage your wealth succesfully and make the most of your money and opportunities.
(Translated excerpt from Word Ryk, Bly Ryk)