The value of thinking about your business idea or business from an investor point of view
The conference is due to have some serious investors and entrepreneurs/budding entrepreneurs should consider whether they would like to participate in the “walk in” part of the competition.
Why do I mention this? Well, in anticipation of this week, a regional pitching competition was held last week, with the Western Cape region being held at Furntech in Paarden Eiland on Friday.
8 incubators from the Western and Eastern Cape entered beneficiaries with innovative ideas.
The CFE has a new cohort of 20 plus beneficiaries and we entered the 4 beneficiaries/business ideas as seen in the photo’s.
Which leads me to the main point
Why should you attend and/or enter such competitions?
I believe that the 4 CFE beneficiaries would give a big thumbs up to the event with direct and indirect benefits accruing to themselves.
Here are five I can think of:-
- Testing of the appeal and business case of your idea/business. The discipline of thinking about the business case of your idea starts to align you with the way an investor thinks. Always good to work from this premise.
- Exposure of your idea/business
- Invaluable feedback from the panel and audience
- Exposure to some amazing ideas from others that could aid you in thinking innovatively. Some of the ideas shared on Friday were truly outside of the box. I think the beneficiaries of the CFE/RI program experienced opportunity to stretch their own limitations through this exposure.
- Unique networking opportunities-those that attend such events bear the “stripes” and speak the language of entrepreneurs
The learning for me is to be proactive in finding such events and then attend/or compete. That could result in serious momentum shift for you, and your idea.
Hope to see you at the next catalytic event!