By Krantz Mwantepele
For any business to thrive, it’s all about self-sacrifice and the reduction of unnecessary
expenses. We all want to use iPhone 11 or even a Rand Cruiser VX, but having dedicated monthly savings over a period of time can make this happen.
The question is, how many people are willing to commit to the same level of dedication of saving
towards launching their own businesses?
As a promising entrepreneur, the first source of capital for your business starts with
“YOU”. How do you convince potential investors to invest in your idea if you don’t
even have any capital capacity to push your own ideas? The easiest way to do this is
only if you have a previous business success that stands for you.
Imagine Maxence Melo or Mike Mushi trying to raise money for their new venture –
Their ideas are enough to get funding based on their past and present successes. (you
all know Jamiiforums and its success) So any potential investor will be willing to
listen to their ideas because their history and ability to push things forward is widely
Everybody is thinking about the same big question, – how do I raise capital for my
business? It will take me 10 or 20 years to save up for my business.
How much do I really need to get started?
Most startup ventures started by entrepreneurs were bootstrapped before investors
took interest in them. Forget what introduction to commerce taught us in secondary
school about the sources of funds for a business being but not limited to family funds,
investment, and bank loans, etc.
Some business investors might believe in your business plan, while others would not.
Not because you have a bad business plan or not doing something great, but it’s
because they would rather spend their money on something else. Always have in
mind that, if your family or close friends does not invest or support your business
why do you think the investors or banks would? Leave aside the fact that you don’t
even own any collateral.
Instead of withdrawing back into your shell because of the lack of capital to start your
business, come to terms with the fact that you are the only one who can breathe life
into it. Once you get your business off the ground, investors will come begging you to
join your business. But you must take that first and hard step of saving for the initial
launch of your business!
The question is, are you ready to do away with some luxuries?
Here are 7 steps that could be of help:
1. Always go with what you need, and not what you want. Research shows that
people can do without 7 out of every 10 things they buy. What does this mean? It
gives you an opportunity to save a good portion of your income by reducing unnecessary
2. Put everything you have on your idea and push it with every penny you have. Have
you ever heard of the quote “Something done is better than perfect?” Well, a running
business gets more attraction to investors faster than a business that is sketched on
business proposal papers.
3. Have plan A, B, and C. If the business investment doesn’t come, what happens? Is it
an end of the business? Hell No! You have to find other means to push it slowly until
the business is self-sustaining.
4. Networking – the power of networking must never be underrated, so always know
people and they will be of help in your business.
5. Promote your business – People tend to appreciate and get interested in things
they know. Building a quality service and having media attention will make some
noise about your business.
6. Be unique and provide solutions. Don’t try to create or be another Facebook,
Twitter or Snap Chat. All you need is to create something better to catch social
attention online. A good example is Jamiiforums, they did catch my attention, its
because it’s something unique and creative.
7. Have a plan for how the money will keep pouring in. Business Investors are more
interested in how much profit your business will make for them. They are not Santa
Claus, so creates more revenue streams for your business.
Have you started saving yet? Don’t stop dreaming big, but start small and start now.
KRANTZ MWANTEPELE is the FOUNDER & CEO of KONCEPT
Email: [email protected]