From the vibrant, bustling South African streets of Diepkloof, Soweto, emerged two visionary entrepreneurs bound by a shared birthplace and a profound passion for the building environment: Tebogo Neo Phiri and Mashobane Khumalo.
Their journey from childhood fascinations to establishing Corestone Developers is a compelling narrative of ambition, resilience, and a deep-seated desire to make a tangible difference in their community, best told through their own words and experiences.
Childhood Days
Their formative years in Soweto played a pivotal role in cultivating their entrepreneurial spirit. While their educational paths diverged slightly – Mashobane attending Boepakitso Primary and Abbotts College, and Tebogo at Thabisile Primary – their shared environment instilled in them a keen awareness of both the challenges and opportunities within their community.
It was during these early years that their innate entrepreneurial traits began to manifest, foreshadowing their future success.
Business Acumen
Mashobane, with a mind for calculated risks and a knack for identifying needs, created a mini-economy around his academic efforts.
He recalls: “I saw a demand for homework help, and I figured out how to monetize it. It was about understanding what people needed and providing a service, even if it was just lending a few rands until payday.”
This early demonstration of business acumen, understanding supply and demand and basic financial principles, laid the groundwork for his future strategic thinking. Simultaneously, Tebogo, exhibiting a bolder, more audacious spirit, initiated a school gambling ring, complete with a loan shark operation.
“I was not afraid to take a risk,” Tebogo explains with a smile.
“It was about understanding the dynamics of risk and reward, and managing a small, informal economy. It taught me a lot about handling money and dealing with people.”
While perhaps not the most conventional business model, it showcased his willingness to take risks, manage finances (albeit in a less regulated environment), and build a network.
Strong Foundations
These seemingly disparate, yet equally insightful, early ventures not only honed their individual entrepreneurial skills but also fostered a strong foundation for their future partnership, built on mutual respect for each other’s distinct strengths.
The inception of Corestone Developers was not a sudden decision but rather a natural evolution of their lifelong fascination with construction and architecture. Growing up in Soweto, Tebogo and Mashobane were perpetually captivated by the homes around them.
“We were always looking at the houses in the neighborhood,” Mashobane remembers. “We would point out features we liked or think about how things could be done differently.”
They saw not just structures, but the potential for comfort, beauty, and a sense of belonging. This innate interest ignited a powerful vision: to provide affordable, yet aesthetically pleasing residences that would uplift and enhance the lives of their community members.
“We saw a real gap,” Tebogo states. “Many people in our community struggled to access quality housing because of the cost. We wanted to change that. We believed beautiful homes shouldn’t be a luxury.”
Birth of Corestone
It was this realization that propelled them to establish Corestone Developers, driven by the unwavering belief that beautiful homes should not be a luxury but an attainable reality.
At Corestone, their expertise extends far beyond the basic construction of residential properties. They have built a reputation for providing a comprehensive suite of specialized services, ensuring that clients have a single point of contact for all their building and maintenance needs.
Their dedicated team of 15 employees shares their commitment to delivering exceptional quality and customer satisfaction, tackling everything from intricate tiling work and essential plumbing repairs to meticulous painting and critical electrical maintenance.
“Our team is the backbone of Corestone,” Mashobane emphasizes. “They share our vision and our commitment to doing things right. We’re a family.”
By offering this holistic approach, Corestone is not just building houses; they are building trust and convenience, aiming to redefine the landscape of residential construction in South Africa by bridging the gap between affordability and excellence.
Looking Ahead
Since their inception, the business landscape has undergone significant transformations, presenting both challenges and opportunities. The construction industry has become increasingly competitive, with emerging trends and technologies disrupting traditional practices.
To stay ahead of the curve, Tebogo and Mashobane have implemented several strategic initiatives, focusing on continuous learning, embracing innovation, and maintaining a keen awareness of market demands.
As co-founders, they have navigated numerous hurdles inherent in establishing and growing a business. Initial funding constraints were a significant obstacle, requiring creative solutions and a lean approach to operations.
“Getting that initial funding was tough,” Tebogo admits. “We had to be resourceful and prove our worth with limited resources.” Intense competition demanded strategic differentiation and a relentless focus on delivering value.
Adapting to evolving regulatory changes required vigilance and a commitment to compliance. However, one of the most significant challenges in their early stages was managing cash flow. “Cash flow was a constant worry in the beginning,” Mashobane recounts. “It taught us the absolute importance of meticulous financial planning, prioritizing projects, and being completely transparent with our suppliers and clients. It was a tough lesson, but a crucial one.”
Spreading Wings
Amidst the challenges, there have been notable success stories that underscore Corestone’s impact.
Looking ahead, Tebogo and Mashobane are excited about the future of the construction industry, particularly the growing adoption of sustainable building materials, energy-efficient designs, and innovative construction technologies like 3D printing and modular building.
“These advancements are transforming the industry,” Mashobane notes. “They allow us to build more efficiently, more sustainably, and ultimately, more affordably. It’s exciting to be a part of that evolution.”
They see these trends not just as advancements but as opportunities to deliver more affordable, eco-friendly, and high-quality homes, aligning perfectly with Corestone’s core values.
