Entrepreneurs advised on how to approach investors

Windhoek-Over 20 young and vibrant aspiring entrepreneurs gathered at Windhoek Base Entrepreneurs (WEB) for a FABLAB event to acquire clear guidance on how to conduct an outstanding business pitch and present ideas to potential investors.

Key speaker and business advisor Lawrence Hawl, an Outreach Namibia advisor from Transcending Lives Continuously (TLC), who spent nearly eight years in Russia and about ten years in Germany crafting his entrepreneurial journey, said it does not matter what kind of business one wants to pursue but rather who is interested in your business should serve as the key factor, he emphasised.

He encouraged entrepreneurs to consider stakeholders as key to their business success. Ask yourself why your stakeholders are interested in your business, he rhetorically questioned.

Lawrence further advised entrepreneurs to primarily explore and execute the stakeholders' needs. He pointed out that the business value proposition is one of the core business competitive advantage. The value proposition clearly articulates why someone would want to buy from your company compared to other similar offerings, he noted.

He further highlighted in a nutshell that the revenue stream of the business is the building block representing the cash generated by the company. Revenue stream is not mere profit, it is income minus costs from each customer segment.

He described the event as a great platform that stimulate the country's economic development. Events of this magnitude position people to nurture their growth and seek for new business opportunities, he concluded.

In addition, Auri Evokari, international programme officer and guest speaker from Southern Africa Innovation Support (SAIS) cautioned the group of entrepreneurs in attendance to modify their pitch presentation with an element of their personal life. Your pitch must be short with a clear description of your business solution, she said.

She thanked the event organisers for coming up with such an exciting business platform for the start-up community and called on all aspiring young entrepreneurs to make use of the Windhoek Base Entrepreneurs (WEB) facilities as their professional co-working venue.

WEB co-founder and event organiser Audrey Akwenye spoke of the importance and aims of the FabLab event hosted at their venue, which served the purpose of facilitating a great networking platform, as well as to give PITCH tips and technics to all aspiring entrepreneurs.

She urged people in the commercial industry to visit the WEB corporate website and social media pages for further event information.

Source: New Era Newspaper Namibia