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GET OUT OF YOUR OWN WAY!

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 - 1st

Tunisia Score – 1st in Africa

Namibia’s Score

Lowest Score

Starting a business

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

Start Building!

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

• f 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 know don’t every- thing

• It doesn’t matter how much you

know, we all need to learn from others.

Informal advisors include:

• Other business owners
• Friends and family
• Social Media pages & internet
• Members of other entrepreneurial

groups or projects

• Members of your board of directors

Professional advisors include:

• Lawyers
• Accountants
• Bankers
• Insurance agents
• Marketing professionals
• Consultants
• Small business assistance providers

BLING

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No Bling before profits

• You are going to fail if you focus only on material

gains (like Range Rovers) and not a legacy.

• Continuously invest in products and services

that generate revenue and employment.

• Most importantly, invest in your people!

• 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

• wn

ideas

• Your first idea is not always the best one.
• Move beyond your ideas and take action!
• 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