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The value of thinking about your business idea or business from an investor point of view

In March this year, South Africa will be the host country for the Global Entrepreneurship Conference (GEC) on the 13th-16th March. http://gec.co/presentation-announcements

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!

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