Please take a few minutes to watch this
http://www.youtube.com/watch?v=R9ya9BXClRw
Wednesday, October 28, 2009
Sunday, October 25, 2009
Let’s invest in Africa and keep welcoming her to the Business World!
Today Time Magazine released an article featuring “10 Ideas Changing the World Right Now” in 2009. Idea number six specifically highlighted Africa as a prime business destination.
The article discusses that the perception of Africa has long been attributed to despair, war, diseases, corruption and famine. As a consequence of this view, a misconception exists concerning Africa’s growth opportunities; that they must all surely be related to suffering, aid programs, and donations. The article quickly dispels this myth with strong evidence that “aid is no longer Africa’s main source of foreign income. Africa is becoming a business destination.
http://www.time.com/time/specials/packages/article/0,28804,1884779_1884782_1884769,00.html
The article discusses that the perception of Africa has long been attributed to despair, war, diseases, corruption and famine. As a consequence of this view, a misconception exists concerning Africa’s growth opportunities; that they must all surely be related to suffering, aid programs, and donations. The article quickly dispels this myth with strong evidence that “aid is no longer Africa’s main source of foreign income. Africa is becoming a business destination.
http://www.time.com/time/specials/packages/article/0,28804,1884779_1884782_1884769,00.html
Wednesday, October 21, 2009
Tuesday, October 20, 2009
Some tips for attracting VC Investors!
After reading numerous articles and blogs regarding attracting funding, let me share what I have learnt:
Customers:
Although the team and revenue is important, there appears to be new emphasis on the customer.
The team is still a vital element of the equation, but the entrepreneur behind it is just as important. Here's what the investors are looking for in both:
Passion: The entrepreneur must display an excitement about their vision for the company.
Determination: The entrepreneur must prove that they have the stamina and willpower to stick with their vision.
Flexibility: The entrepreneur must be prepared to reevaluate and refocus their plans whenever necessary.
Commitment: The entrepreneur must be willing to invest enough of their own money into this project to convince investors that they are serious.
Teamwork: The entrepreneur's team must demonstrate they can work effectively together.
Coach-ability: The entrepreneur and their team must be coachable. No team knows everything they need to know to succeed.
Knowledge: Investors prefer to support teams that know their market by having backgrounds that are rich and impressive in the market niche.
Opportunity:
Investors want big impressive ideas. Ideas that can change the world, our behavior, culture or way of thinking. Ideas that can build $100-million-size companies. Anything less than that is too abstract and the risks of investing in a company are too great when the reward is so small. Investors can not afford to invest in opportunities that don´t have a huge payoff.
Many an entrepreneur fails because they don't know how to do this type of exercise enabling a good overview of the opportunity that may be ahead. Well, there you have it: the latest and deepest thinking from a sample of professional investors.
How do you match up? If you feel you have found areas that were lacking, find someone who can help you fix them before you approach anyone to invest. Your extra investment of time will significantly improve your chances for funding.
Customers:
Although the team and revenue is important, there appears to be new emphasis on the customer.
- What compels the customer to buy the product or service?
- What are the problems that this product or service solves? What are its unique selling points?
- Why is it worth the price?
- Are the customers asking if they can invest in the company?
The team is still a vital element of the equation, but the entrepreneur behind it is just as important. Here's what the investors are looking for in both:
Passion: The entrepreneur must display an excitement about their vision for the company.
Determination: The entrepreneur must prove that they have the stamina and willpower to stick with their vision.
Flexibility: The entrepreneur must be prepared to reevaluate and refocus their plans whenever necessary.
Commitment: The entrepreneur must be willing to invest enough of their own money into this project to convince investors that they are serious.
Teamwork: The entrepreneur's team must demonstrate they can work effectively together.
Coach-ability: The entrepreneur and their team must be coachable. No team knows everything they need to know to succeed.
Knowledge: Investors prefer to support teams that know their market by having backgrounds that are rich and impressive in the market niche.
Opportunity:
Investors want big impressive ideas. Ideas that can change the world, our behavior, culture or way of thinking. Ideas that can build $100-million-size companies. Anything less than that is too abstract and the risks of investing in a company are too great when the reward is so small. Investors can not afford to invest in opportunities that don´t have a huge payoff.
Many an entrepreneur fails because they don't know how to do this type of exercise enabling a good overview of the opportunity that may be ahead. Well, there you have it: the latest and deepest thinking from a sample of professional investors.
How do you match up? If you feel you have found areas that were lacking, find someone who can help you fix them before you approach anyone to invest. Your extra investment of time will significantly improve your chances for funding.
Thursday, October 15, 2009
Marc Andreessen On Innovation
Marc Andreesseen was one of the first people who saw the huge business opportunity the Internet would eventually become.
A legendary Silicon Valley entrepreneur, Marc founded Netscape (sold to AOL for $4 billion in 1999) and Loudcloud (sold to HP for $2 billion in 2007) and has helped nurture dozens of other startups over the years. In the exclusive interview below, he shares his wisdom on entrepreneurship, success, and the future of online technologyhttp://www.businessinsider.com/henry-blodget-marc-andreessen-on-innovation-full-interview-2009-9
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