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How To Become A Pitch Addict

The ENGEN Pitch & Polish 2016 Workshop final was held in Johannesburg on the 10th of November and the winner was Murendeni Mafumo from Fourways, Johannesburg.

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“First I was afraid; I was petrified” … Gloria Gaynor certainly did not have entrepreneurs in mind when she sang these words, in her classic disco hit “I will survive”. But the opening words of the song could very well describe the feelings of most entrepreneurs when they first begin pitching their business to potential investors and clients.

Fear is certainly the order of the day. However, like Gaynor, survival is also the order of the day and entrepreneurs who are unable to master the art of the pitch are unlikely to master the art of survival.

In fact, having overcome the fear, and having moved past being petrified, successful entrepreneurs become addicted to pitching. How, one may ask, is it possible to become a pitch-addict?

Like any healthy addiction, such as to exercise, practice makes perfect. One cannot become a ‘pitch-addict’ until one has moved through the fear of pitching. Becoming a pitch addict requires you to actually pitch – often!

The mirror is a good place to start, followed by the 3 Fs, friends, family and fools (i.e. anyone who will listen!). And even if the 3Fs in your life do not actually invest, the experience you will have gained in pitching to them, over and over, is immeasurable.

Related: The Impact Of Pitch And Polish

It is the first step on the path to addiction. And then it’s time for the real world! Bankers, investors, venture capitalists and, of course, potential clients.

The way you become a pitch addict is simply to breathe deeply and to tell yourself that no matter what feedback you get, you will find a way to use it to your advantage. You tell yourself that you will handle the feedback, no matter how hard it may be to hear.

In this way, you build your resilience to handle feedback. It is a virtuous cycle: the more feedback you get, the better you get; the better you get, the more courage you gain to pitch.

The fear never truly goes away. Even the most seasoned pitchers feel fear before they pitch their business. The pitch addicts are simply not letting fear get in the way! The more you say ‘yes’ to every opportunity to pitch, the more likely you are to become a pitch addict.

Suddenly, you will feel your fear turning into excitement. There is a ‘rush’ that accompanies the pitch – it is this rush to which pitch addicts become addicted.

“Just before the final pitch I was so nervous, and once on the stage the immense preparation helped me deliver a polished pitch.” says Murendeni Mafumo, the winner of ENGEN Pitch & Polish 2016, receiving R60 000 on the night.

“And once I’m done, and I know that I have faced my fear and conquered it, I am open to whatever feedback comes my way!” he adds.

“After winning, I feel grateful for the validation of my dreams.” Murendeni, who lives in Fourways, Johannesburg, won the judges over with his pitch on his existing business, Kusini Water, which uses technology developed to treat water. Murendeni’s love for science was sparked when he received a science set, as a present, when he was very young.

Related: How To Pitch An Investor

As his scientific knowledge grew, so too did his passion to make a positive difference in his community. Today, he ensures that people, specifically in rural areas, have clean drinking water.

“I thought I knew about business, but ENGEN Pitch & Polish has given me even more skills to grow my business beyond my wildest dreams!” says Murendeni.

It is important, however, to curb your addiction. A balance between working on your business, and talking about your business is essential. It is also crucial to be a discerning addict. Do your homework first. If there is something to be gained from the pitch, go for it!

The 2016 ENGEN Pitch & Polish programme, which was hosted by Engen Petroleum Ltd, Nedbank, Raizcorp and SAfm, culminated in an exclusive and prestigious event, held in Johannesburg. Alan Shannon, Head of Small Business and Professional Banking at Nedbank, expressed his enthusiasm by saying:

“Pitch & Polish is the perfect fit for Nedbank as we firmly believe that small business is the driver of the economy and employment. We believe in elevating and developing entrepreneurs, which is exactly what this programme does.”

In 2nd place overall in the national competition is Rishav Juglall, from the Durban event. He won R30 000 on the night. This young and dynamic entrepreneur, absorbed all the lessons of the ENGEN Pitch & Polish workshops, and it showed and paid off!

Rishav’s existing business, Rocky Brands, specialises in an array of high quality household cleaning products. As the youngest supplier to one of the largest retailers in South Africa, Rishav’s determination and ambition did not go unnoticed by the judges.

Rishav aspires to export his products all over Africa. His confidence gives him the ability to pitch extremely well, and with the added guidance from ENGEN Pitch & Polish, Rishav is sure to go very far with his business.

The Port Elizabeth contestant, and third-place winner in the finals, Billy Siziba, winning R15 000 on the night, grew up in a family of entrepreneurs. He is elated to be continuing the family tradition of self-employment and sustainability. His existing business, Bullyz Fitness, manufactures and sells gym clothing.

“Gym fees are high,” says Billy. “If you add the cost of gym clothes to that, gym becomes unaffordable for many people.” Bullyz Fitness aims to give people of all shapes and sizes, from all walks of life, access to professional gym clothes. Ever the entrepreneur, Billy is also working on an app that will help them to get, and stay, fit. No doubt the invaluable experience he has gained in ENGEN Pitch & Polish will serve him well as he expands his business to even greater heights.

Related: PITCH-A-PHOBIA… And How To Overcome It

Now in its seventh year, Engen Petroleum has been a sponsor since 2012. At the beginning of this year’s competition, Unathi Njokweni-Magida Engen’s Group Transformation Manager, said that she was expecting big things this year, “7 is a magic number,” she said. And she was right.

She continues, “This year’s competition has exceeded all my expectations, from the quality of the contestants to the aliveness of the audience, as well as the professionalism of the judges. As the headline sponsor, we could not have asked for more.”

Njokweni-Magida’s enthusiasm is backed up by the facts. This year, the competition hit record numbers with 2 300 entrepreneurs participating in the workshops.

The programme has been so successful that it caught the eye of Business Day TV which commissioned Pitch & Polish for a 10-week TV series which began in October 2016.

ENGEN Pitch & Polish’s power is truly in the pitch which produces a ripple-effect of success for entrepreneurs, and attracts opportunities for change and growth.

In the group photograph from left to right:

  • Alan Shannon (Nedbank)
  • Billy Siziba (3rd place, from Port Elizabeth)
  • Murendeni Mafumo (Winner, from Johannesburg)
  • Shirley Moroka-Mosia (Engen)
  • Rishav Juglall (2nd place, from Durban)
  • Allon Raiz (Raizcorp)

For more information, visit www.pitchandpolish.com

Entrepreneur Magazine is South Africa's top read business publication with the highest readership per month according to AMPS. The title has won seven major publishing excellence awards since it's launch in 2006. Entrepreneur Magazine is the "how-to" handbook for growing companies. Find us on Google+ here.

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FNB Sets Its Sights On Growing Female Entrepreneurs In South Africa

First National Bank looks to grow women entrepreneurship in South Africa.

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FNB has set its sights on growing women owned and led businesses in South Africa, a commitment that has seen the bank enter into partnerships to facilitate mentorship for some of the most promising enterprises.

The bank has a good foundation to build on, as 38% of all new business accounts opened with FNB Business are either led or owned by women, highlighting an already established entrepreneurial momentum.

“We are cognisant of the fact that neither government nor corporate South Africa are going to be the sole sources of job creation. We therefore have an obligation to support and grow entrepreneurship. Partnerships such as the one entered into with International Finance Corporation (IFC) enables us to assist in developing women owned business,” says Michelle Geraghty, Head of Women in Business at FNB Business.

Over the last few years, FNB has, through a partnership with the Vumela Fund, assisted businesses such asSAIL, a leading skills and training institute that offers a range of qualifications to the public sector, and Toni Glass who produce a collection of world class tea, to not only scale effectively, but to bolster each of the business’s offering to market.

Related: Watch List: 50 Black African Women Entrepreneurs To Watch

“Our approach is to, much like we have done with the likes of Sail and Tony Glass, enable qualifying women owned businesses in their growth curve by offering help that includes transact, lending, investing and insuring solutions. This will include facilitating the registration of the business online via the FNB registrations system which links to CIPC, to Instant accounting and payroll solutions aimed at reducing operating costs for the business. This will also extend to support in the incubation stage of selected businesses through Vumela. We will carry this right through to private equity funding,” explains Geraghty.

Vumela was established as an innovative model that is aimed at filling the gaps in the current SME funding and support landscape. While Vumela is an SME growth fund, it also functions as the bank’s primary Enterprise Development and Supply Development vehicle, able to fulfil both SME funding and growth needs, and corporate ESD requirements, avenues that FNB will be making use of.

FNB also intends on tracking jobs created through these initiatives to ensure a trickledown effect that not only benefits the business owner but also increases the overall number of women participating in business in South Africa.

“The need to grow the number of women in business is one that if done correctly, can address many of the disparities and anguish that women continuously face. Access to fair opportunities to grow their businesses and in turn make a real impact on the South African economy,” concludes Geraghty.

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Great Bunch Of Entrepreneurs Make Top 10 In The Workspace/MiWay Competition

The top 10 in The Workspace/MiWay entrepreneur competition have been selected.

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After an intense four-month process, the top 10 contenders in The Workspace/MiWay Entrepreneur competition have been notified that they’re through to the next round. These entrepreneurs will pitch their businesses to the judges, who will then whittle down the number of contenders to five, from which the winner will be chosen.

“There has been great excitement over the past four months. As every single new entry came in, we would clap our hands and cheer,” said Mari Schourie, CEO of The Workspace. It was a tough job judging all the entries to reach the top 20 submissions, she said, before having to find the top 10.

“We’ve had really strong entries submitted by people with good business knowledge,” said Schourie. “You can see the willingness to work hard and the great amount of effort they have put into their initiatives.”

Schourie said judges saw “wonderful ideas and fabulous business minds and quality people with big dreams shine through the entries”.

The top 10 are:

  1. Loyal 1
  2. Dwyka Mining Services
  3. Minatlou Trading 251
  4. Sindis Best for all
  5. Convergence Three
  6. Zinde Zinde
  7. Matla Risk Management
  8. Artsort Trading
  9. Iconic Talent Agency
  10. Nthedikgwadi Transport Services

Related: How to Name (Or In Some Cases, Rename) Your Company

Schourie said she wished she could tell President Cyril Ramaphosa, who supports the growth of small business as an economic driver, “the ideas and the passion that these business owners have is inspiring and should be focused on more”.

The prize on offer – worth over R350 000 – will help set-up the winning entrepreneur for a period of 12 months, giving them a boost to help build their business.

Morné Stoltz, Head of Business Insurance at MiWay, said the theme that ran throughout the entries was that entrepreneurs wanted to make a difference and contribute to positive change in South Africa. “Many of the submissions focused on technical and developmental fields,” he said.

“Entrepreneurs recognise gaps in the market and see the potential for growth. Getting into the top 10 was not at all easy.”

Stoltz said South Africa had a “great bunch of entrepreneurs” and that standing together to give them a platform to launch was an exciting opportunity. “To grow our economy we need to help with skills development and give whatever assistance we can,” he said.

Part of the finalists’ road to the top includes a skills development programme for the top 10 entrants ahead of their important date to pitch their business plans to the judges.

As Schourie pointed out, it is vital to encourage South African citizens to act on their dreams and passions because “it can be a great success; they just need make that leap”.

Dates to watch:

  • 21 June: Top 10 skills development programme
  • 3 July: Top 10 pitches
  • 6 July: Top 5 announcement
  • 20 July: Final five workshops
  • 10 August: Final five pitches
  • 13 September: Winner announced

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Top 22 Start-ups Chosen For Final Selection Days – Startupbootcamp Africa

After receiving 1,004 applications from all over the world, the SBC team in conjunction with the programme’s corporate sponsors have narrowed the applicants down to 22 top-tier tech start-ups that will be invited to the Final Selection Days on July 11th and 12th at PwC’s headquarters in Cape Town.

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SBC Africa received 1,004 total applications from 77 countries on 5 continents. The start-ups that applied were exceptionally impressive and have gained more traction in the market than the applicants for the 2017 cohort. The talent in Africa is phenomenal and the corporate sponsors and SBC team dedicated 2 weeks to narrow it down to the Top 22 to be invited to Final Selection Days.

“It’s been an intense process due to the exceptionally high calibre of start-ups applying to the programme from across the continent,” states Philip Kiracofe, co-founder and CEO of Startupbootcamp Africa. “From 1,004 applications we have managed to narrow down to 22 of the most creative teams tackling daunting African problems. One of the key differentiators for start-ups that participate in the SBC Accelerator is the opportunity to secure commercial contracts with our sponsors. In order to make it onto our Top 22, each start-up has been chosen by at least 2 sponsors for potential proof of concept projects. The 2018 cohort is already shaping up to be a milestone moment for Africa.”

Related: How to Name (Or In Some Cases, Rename) Your Company

Zachariah George, co-founder and Chief Investment Officer of Startupbootcamp Africa added, “The investment community across Africa is taking note of the significant traction and access to market that being an alumni of a global accelerator programme like ours provides. We are excited to further galvanize venture capital funding into tech startups through significant de-risking of business models and customer validation with our corporate partners globally.”

From the 22 teams that have been invited to the SBC Africa Final Selection Days, 10 will be selected to join the 2018 cohort. Over the span of the two Final Selection Days, the startups in attendance will have the opportunity to present their pitches to high-profile corporate sponsors, investors, thought leaders and industry experts and will have the chance to sit down with mentors and sponsors alike. At the end of Day Two, the Top 10 will be announced and will be welcomed to the Cape Town-based Accelerator that kicks off in August. During the 3-month period, they will have the opportunity to scale at an incredible pace and seal pilot and proof of concept deals with the corporate sponsors to the programme.

The SBC Africa Accelerator is anchored and endorsed by heavyweight corporate sponsors RCS, BNP Paribas Personal Finance, Nedbank, Old Mutual and PwC.

“We’ve seen an increase in the quality of start-ups applying to the programme. The awareness of the value of the programme has increased and the success of the first year of the bootcamp speaks for itself. More mature start-ups are also seeing the benefits of participating in Startupbootcamp Africa,” comments Stanley Gabriel, Head of Innovation at Old Mutual.

The Top 22 start-ups invited to the Final Selection Days come from 7 different countries. The numbers are as follows: 8 from Nigeria, 5 from South Africa, 3 from Uganda, 2 from the Ivory Coast, 2 from Kenya, 1 from Ghana and 1 from Ireland.

Related: Entrepreneurship Is All About Overcoming Obstacles

The names of the start-ups invited to Final Selection Days by country:

  • Nigeria: Bankly Technologies, Biyabot, CredPal, FriendsVow, Kudimoney Bank, Medikal HMS, NebulaPay, and ZEEZZ Planet Solutions.
  • South Africa: Brandbookalytics Big Data, ifileme, LÜLA, Prospa, and Akiba Digital
  • Uganda: CoinPesa Ltd, RoundBob Uganda, and Swipe 2 Pay
  • Ivory Coast: Digitech Group, and DISTRICASH
  • Kenya: Kakbima, and MPost
  • Ghana: Inclusive Financial Technologies
  • Ireland: Pago Payments

It has been an incredible 3-month scouting journey for SBC Africa and now that the Top 22 have been announced, the Final Selection Days is the only hurdle left before the Accelerator officially kicks off on 13 August 2018.

There are high expectations for the Top 10 of 2018 and if the quality of the start-ups at this stage is any indication, 2018 is set to be a great success for the African tech and innovation ecosystem.

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