SPONSORED | An entrepreneur and an expert share practical advice on how to secure investors in an episode of Old Mutual's free web series, Nine Yards TV
An entrepreneur and an expert share practical advice on how to secure investors in an episode of Old Mutual’s free web series, Nine Yards TVIt’s important not to overvalue your business. Nobesuthu Ndlovu, Old Mutual Corporate director: SME, says entrepreneurs should be realistic and scale back their initial ambitions when applying for funding.
Thwala says he did not have a deep understanding of the fundraising challenges inherent in the high-risk industry, such as the costs to service debt. As a result, he says, AgriKool lost a lot of money in the early days. Ndlovu says it’s vital for entrepreneurs to upskill themselves and make the time and effort to understand the numbers in their business; everything put forward to investors should be linked to these numbers.
Ndlovu says this leads to the next mistake — not appreciating who the funders are and why they make the stipulations that they do.
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