GET OUT OF YOUR OWN WAY! Follow the QVR CODE on social media / - PowerPoint PPT Presentation

GET OUT OF YOUR OWN WAY! Follow the QVR CODE on social media / #QVRFAQ Quinton van Rooyen @qvr_ @trustco_group

What is An Entrepreneur? A person who sets up a business or businesses, taking on financial risks in the hope of profit.

Why entrepreneurship is important in society -The economic success of nations worldwide is the result of encouraging and rewarding entrepreneurship. -The impact of entrepreneurship capital might be greater than knowledge capital – why?

Global Entrepreneurship Index

US Score - 1 st

Tunisia Score – 1 st in Africa

Namibia’s Score

Lowest Score

Starting a business Start Building! Enforcing Contracts: 460 days Paying taxes: 302 hours / 37 8-hour days Export compliance: 120 hours / 15 8-hour days Import compliance: 6 hours / 1 8-hour day

Stop the fear! -We must not be paralyzed by fear. -Take the risks, fail and learn from it. But… -Successful entrepreneurs use fear and failure as a stepping-stone to success.

Chasing the success of others -Only (only!) take note of the success of others, but don’t let it consume you. -Bly in jou baan. -We all have the potential and ability to become a success. -Don’t focus, or waste energy on what others are doing.

You don’t know every- thing - It doesn’t matter how much you know, we all need to learn from others. Informal advisors include: Professional advisors include: •Other business owners • Lawyers • Friends and family •Accountants • Social Media pages & internet •Bankers •Members of other entrepreneurial •Insurance agents groups or projects •Marketing professionals • Members of your board of directors •Consultants •Small business assistance providers

No before BLING BLING BLING Bling BLING profits BLING BLING BLING BLING BLING -You are going to fail if you focus only on material - BLING gains (like Range Rovers) and not a legacy. BLING - Continuously invest in products and services BLING that generate revenue and employment. BLING BLING - Most importantly, invest in your people! BLING BLING

-If you make mistakes, “vat dit op die bors pappa” and claim it! -This is business, things don’t always go according to plan. -Identify the problem and find a solution. -Continued excuses will make you repeat the same mistakes over and over.

Getting wrapped in your own - Your first idea is not always the best one. - Move beyond your ideas and take action! ideas -Your own ideas won’t naturally create concise profits. -Lay out those details and get untangled.

You’re not an island -Sole proprietors also need people. -For smarter, innovative ways of doing business, continuous consultations are needed. -Be willing to learn and open up to those around you in order to succeed. -Most importantly, you need the skills to appoint the right people.

Don’t take negativity to heart • • • • • • -You are bound to meet “haters” who don’t agree with your ideas. -The more unique your ideas, expect people to tell you otherwise. • -Confucius said: “ If someone spits behind your back, it means you are in front of him “ • •

Funding There are mainly 5 Sources of Funds: - Inherit, - Beg, - Steal, - Save, - Borrow In order to be a successful borrower, you need: - Successful business model - Experience - Keep an eye on your credit record!

QVRCODE Q&A Follow the QVR CODE on social media / #QVRFAQ Quinton van Rooyen @qvr_ @trustco_group