I always wanted to be an entrepreneur
By Somila Radoni, 21, Eastern Cape
I always wanted to be an entrepreneur; I mean, who does not like the idea of being their own boss?
Lack of information almost delayed the process of me being my own boss. When I was younger, I thought all I have to do is write a business plan and then I am done, and an investor will take it from there. I was woken up from my lala-land when my mentor told me no investor would read a business plan that is more than three pages because they do not have the time. Bear in mind, I did little research on what I wanted to venture in. I remember his words “This is a hypothesis; send me your elevator pitch tomorrow morning and we will take it from there”.
An elevator pitch is a short statement where you sell your idea to an investor. It is a one-page document, it should include your idea, the challenges you saw and how you are going to solve them, as well as your target market. Basically, you are selling yourself to the investor and telling them why they should invest in you and your business. That night I did not sleep, trying to do the research that I failed to do at the beginning. After submitting my elevator pitch, I was so sure that I am done with research – I had not learned the lesson.
I was so shocked, I almost swallowed my togue when he emailed me saying we need to discuss few things, I need to do a Business Model Canvas (a strategic management and lean start-up template for developing new or documenting an existing business model), and create a survey to send to my potential customers for feedback. The purpose of the survey was to see if people would buy my product and what I should change.
That is when I stopped dreaming and acted. That is when I straightened my priorities and spent more time on making sure my dream comes true. During this whole process, I understood more, I had to change my habits. I had to choose waking up early and limit the time spent on TV, social media and sleeping.
“All change is hard at first, messy in the middle and gorgeous at the end” – Robin Sharma
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Wow wow! This is so insightful because I have always had a dream to start my own business too. I did not know the process could be so intense and research filled. I will definitely start doing my research now so that when the time arises I will be ready. I really wish you all the best on your business venture Somila.
Am looking forward to start my business
, and I have little information about business I made a research and I can even write a business plan and I also did business studies at school and am currently learning to be a human Resource lawyer, I do many things in my free time but I really want to see myself learning more about business and becoming a responsible entrepreneur and a different one. I want state my operation at a young age 22.
AM LOOKING FORWARD TO HEAR FROM YOU.
Hey Amogelang. In my opinion you have a better advantage because you did business studies at school. Few tips I could you: a) Have a why ? Why do you want to start a business and why this type of business. b) What are the problems did you see? For example, you may want to build a student accommodation because there is a lack of student accommodations. c) who are those doing the same thing as you and how can you better their mistakes( what makes you unique) ,d) attend business seminars or watch YouTube(YouTube is your friend) about Entrepreneurship, i would recommend Vusi Thembekwayo’s videos. Most importantmy have a mentor, maybe someone physical or follow someone on socials who is a entrepreneur and shares their journey on social media. Lastly build a brand, if you want to open a beauty spar, you can start by doing house calls(selling weaves, braiding hair and doing nails) and save that money. Whenever an investor ask about what have you been doing to reach that goal then you have a proof and experience.