Managing several businesses means that Henrey Gibbs from Klerksdrop, North West, often has to balance time, money, and family on just four hours of sleep a night. In this episode of the Farmer Mentor series, he shares how he does it all.
Henrey Gibbs has a talent for starting and growing businesses. He has done it more times than he can count. And although he works across many industries, it is livestock farming that has taught him some tough lessons about financial management.
Gibbs registered his first business in 2012, leading to several other ventures, from offering fleet solutions to construction and design.
These businesses, Gibbs says, often contend for his time and his wallet. “It’s pretty difficult. They fight for my time. Often, I survive on four hours of sleep a day.”
However, for him. the sacrifice is well worth it. “A man must look after his family. Besides, my wife says I’m a ‘liker of things’ and she’s right. I enjoy nice things and being spontaneous,” he laughs.
One of his most spontaneous moves includes becoming a farmer. One day, a close friend invited him to a livestock auction and told him to register as a buyer. “But I’m not buying. I don’t even have land,” Gibbs protested.
Still, he went along with it only to discover that his friend had bought three cattle in Gibbs’ name. “I was shocked,” he says.
From cattle to goats
Since he didn’t have land, he made a deal with his friend to keep the cattle on his farm. The friend provided someone to look after them, and Gibbs came by three times a week to check on them.
“By the end of that year, we had about 20 cattle,” he says. Some were bought, others were calves born from pregnant cows they acquired.
When Gibbs acquired land, he decided to invest in Bonsmara cattle, and last year, he introduced Boer goats to his operation.
“We chose Bonsmara because of the resilience and the experiences and engagements that we’ve had with other Bonsmara farmers. We brought in goats because, when managed well, they can give birth twice a year, which helps with cash flow,” he adds.
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According to Gibbs, goats have a pregnancy period of about six months. About a month after giving birth, they can fall pregnant again. That means they’re able to nurse one kid while already carrying the next, which makes them very productive if managed well.
“The same concept applies to cows. At auctions, we refer to what’s called a ‘three-in-one’: that’s a cow that comes with a calf and is already pregnant again.
“You’re essentially buying three animals in one. They’re rare and more expensive, but also a smart investment, as long as the pregnant cow carries to term, which isn’t always guaranteed.”
Learning the hard way
With so many businesses on his plate, Gibbs openly admits that handling finances can be tough.
“If I knew five years ago what I know now, I would’ve made completely different financial decisions. But the truth is, money management comes with experience, and you really only learn once you’ve actually had money and made some mistakes with it.”
Looking back, he says he has wasted money unnecessarily.
“It’s frustrating, honestly. I see now how certain choices I made back then just weren’t wise. But I’ve learned… if you don’t respect money, it won’t respect you. And if it doesn’t respect you, it won’t stay with you.”
In the next ten years, Gibbs hopes to make his biggest move yet – retirement by 45. “I need to get to a point where I don’t have to wake up at 5 am and start working,” he says with a laugh.
In the meantime, he works hard to make sure his future self can sleep in. Fingers crossed.
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