Passion, self-belief and a desire to make the world a better place will see social entrepreneurs competing for part of a US$1 000 000 prize in New York. Their chances of success will hinge on a few minutes in which they must make the perfect business pitch – a skill that all entrepreneurs need to hone to perfection – and your vote.
So says Shelley Reeves, Marketing Manager: Scotch Whisky at Chivas Regal, while discussing the lead up to the global final of the Chivas The Venture competition, in which social entrepreneurs from 27 countries have earned the right to pitch their socially conscious business solutions to an expert panel in New York that includes actress and businesswoman Eva Longoria, economist Sonal Shah, social entrepreneur Joe Huff and Chairman and CEO of Pernod Ricard Alexandre Ricard.
“Generally described as an ‘elevator pitch’, the short business pitch rests on the presenter’s ability to interest a panel in the business, gain their understanding and support, and then turn that into investment,” explains Mrs Reeves.
“This is what makes it one of the most important skills to be mastered by any entrepreneur.”
The ability to deliver a strong pitch was a focus of one of the Oxford University-based workshops at The Venture’s Accelerator Week, in which all finalists, including South Africa’s national The Venture winner Jaco Gerrits, participated.
To be in with a chance for a share of the US$1 000 000, finalists will have to keep several things in mind during their pitches. These are:
- Understanding that the best business pitches are short and to the point. The more a presenter talks, the higher the chances are that he or she will frustrate or ‘lose’ the experts on the panel. The quicker the audience can grasp a concept and its worth, the better the chances of success are.
- Telling the panel exactly (and briefly) what your company does, what its markets are and the benefits your product or service offers.
- Concentrating on delivering facts and emphasising (if the company is already in existence), what its successes have been and what the future holds. Painting too positive a picture can lead to resistance by members of the panel. It’s best when talking about the future to present a best case, average case and worst case scenario, so the audience gets a full picture.
- Keeping away from technical talk and business acronyms – it will just confuse matters.
- Pitch a single product and its potential, rather than selling a panel on a company that has many products – especially if some or none of them are fully developed.
- Letting those assessing your business know that you have a strong team on board. A diversified, skilled management team will always be favoured over a single ‘I do everything myself’ person. But, at the same time, the owner/founder should let them know his/her strengths and value.
- Letting them know that the owner/founder has personally invested in making the business a success. Investors like to know that the people asking them for funding are invested in the business themselves and are committed to it.
- Briefly describing who the competition is and what differentiates the enterprise’s offering. Putting this in a matrix slide showing strengths and weaknesses accomplishes this quickly and effectively.
“Finally, samples of a product or live service makes a pitch come alive,” says Ms Reeves. “If it can’t be demonstrated live in the time allocated, show them what they can expect.”
Having developed the CrashDetech app, Mr Gerrits exemplifies what it means to win the right way. The app detects car accidents and then immediately summons medical help for motorists in distress – a socially based product that is ideal for a country where road accident injuries and fatalities are a part of everyday life.
Whether he succeeds in winning a lion’s share of the million-dollar prize will be influenced by his confidence in his product, and his ability to communicate this to the judges. Knowing that South Africa is supporting him all the way will also make a major difference.
All he really needs now is for fellow South Africans to begin casting votes, which will contribute to his enterprise’s funding. A total of USD250 000 is based on votes alone, and those who wish to support Mr Gerrits and his life saving service can vote once per week until 13 June 2016.
To do so, and for more information on CrashDetech, log on to www.theventure.com/global/en/finalists/crashdetech, look for the voting section further down the page and cast your vote. Be sure to vote weekly for Jaco as every vote leads to saving lives on our roads.
Set Up Your SME For Success With Fibre
Boost your business potential when you plug into fibre. It offers unprecedented benefits, taking your business to the next level of connectivity.
More South Africans are turning to fibre for fast Internet access. We’re witnessing a boom in fibre expansion and as a result, it’s becoming a more affordable option for SMEs. Once businesses connect to fibre, they can access a reliable, ultra high-speed connection that unlocks the full advantage of cloud-based processing.
Cater to usage demands
A slow Internet connection can derail your business. It’s imperative for business owners to prepare their networks to handle additional usage requirements. Failing to do this might lead to interruptions, slowdowns and a potential impact on your bottom line. An Internet connection should be a tool that supports innovation and uninterrupted productivity.
Shift to the cloud
More businesses are accessing cloud-hosted information via Software-as-a-Service (SaaS) tools and other platforms. In 2018, nine out of 10 companies in South Africa said they had increased spending on cloud computing, according to a report by World Wide Worx and F5 Networks. Running your day-to-day business on the cloud requires you to have a more powerful Internet connection.
Support video and VoIP
Some businesses make use of video capabilities for training and meetings, and VoIP for sales and marketing. On a fibre line, businesses can ensure they meet these demands without putting a strain on the network. With fibre, business owners can run voice and Internet data on the same line but may look at installing a second data connection for redundancy.
Get what you pay for
There’s no denying it, fibre provides exceptional speeds and offers a brilliant price-to-performance ratio. You won’t receive the same contention ratio as other connection mediums – you will get what you pay for. Bandwidth caps are less of an issue with fibre because there’s a choice of affordable uncapped deals on offer.
Make the right choice
- Before you decide on your fibre deal, ask the right questions, understand exactly what you’re paying for and match your business requirements with the right amount of bandwidth.
- Choose a provider that allows you to manage growth for the long term – one that allows you to choose your deal, scale when necessary and not throttle your fibre line.
- You’ll also want an ISP to have your back further down the line. Insist on obtaining a comprehensive list of services along with the monthly fee. Ensure you are provided with a full service including all necessary support and equipment to deliver optimal fibre performance.
Ignite’s drive and purpose is to be the spark that inspires SMEs, which is why the Ignite Fibre service is structured to put you in control. Ignite offers you tailored packages that take into account your daily Internet and business startup needs.
Designing Her Destiny
Oh Yay! owner, Emmerentia van den Hoven does business her way.
In 2011, Emmerentia van den Hoven took a leap of faith when she decided to leave her graphic design job at an agency and pursue her real passion – and it has paid off tenfold. Here’s her story.
“When I started planning my own wedding eight years ago, I fell in love with wedding design and wanted to do that for the rest of my life. Designing for brands had become a set of rules rather than being creative, and I’d always wanted to work for myself. So, in September 2011, I turned my seven-month-old side gig into a fully-fledged business and launched Oh Yay!
I have to hustle every month to get new clients because every client will use my services maximum twice – first for the wedding invitations and then for the stationery on the day – so I don’t normally have returning clients.
Because my main business is seasonal and usually once-off per customer, I have branched out into branding for small businesses in the beauty and lifestyle industry. I also earn a passive income through the Oh Yay! online shop where I sell wedding décor items. Oh Yay Kids – my other online store – is my passion project. I launched it just before my second child was born, adding items to the store that I made for my two boys when I saw a need for it. I then expanded into prints for nurseries and kids’ party stationery.
I work for myself and have no employees, so the fact that QuickBooks lets me load all my services, products and prices in one place makes running my business so much easier. Being an entrepreneur is difficult because you don’t know if you’ll be successful or not. But if you believe in and love what you’re doing, it reflects in your work and the service you give.”
Less admin, more of what you love
When Oh Yay! was launched, along with her dream of being an entrepreneur, came the nightmare of other administrative tasks. But that changed in 2018 when Emmerentia started using QuickBooks.
“When I was using spreadsheets to balance my books, I was spending 80% of my time on admin, which left very little time to tend to customers’ orders. I now spend no more than 25% of my time on admin, which is important, especially when it comes to the speed at which I send quotes. You don’t get any work if you don’t send out quotes and it’s tough to juggle the admin with your actual job of running the business.
Numbers were never really my strong point, so having a professional quote done in record time not only projects professionalism, but the format also changes the way new clients see me. In my industry, the quicker you can send a quote out, the likelier you’ll get the clients’ business. It gives legitimacy to my business. The QuickBooks system operates so seamlessly that clients communicate with me differently, like I have my own accounting department, when in fact, I’m a one-woman-show.
I used to dread doing admin, but now it’s so easy and quick. I’m not just saying this – QuickBooks changed my life.”
The Future Of Fleet Management Is Now
Power up your fleet management and make even smarter business decisions with the new WEBFLEET. WEBFLEET is the award-winning Software-as-a-Service fleet management solution from TomTom Telematics, designed to provide you with the data needed to help your field operations become more efficient, more productive, safer and more profitable.
An improved interface and enhanced features mean WEBFLEET is now more powerful than ever before, and can be accessed anytime, anywhere on any screen. Find everything you need to help save on fuel, maintenance and administration costs, while delivering the quality service your customers demand.
It has already delivered proven results for customers across the globe and is powered by continuous innovation, meaning it is ready to grow with you and your organisation as goals and challenges change. Discover the future of fleet management now and help give your business an edge on the competition. Request a demo and find out more at telematics.tomtom.com/webfleet/landingpages/launching-the-new-webfleet.
Women Entrepreneur Successes2 weeks ago
Watch List: 50 Black African Women Entrepreneurs To Watch
Support for Women Entrepreneurs2 weeks ago
Funding And Financial Assistance For SA Women Entrepreneurs
Accounting & Payroll2 weeks ago
Wilting Away – How To Boost Your Financial Management Team After The Big Financial Year-End
Snapshots1 week ago
How Pepe Marais Went From Bankruptcy To Founding Joe Public And Becoming An Entrepreneurial Success
Snapshots6 days ago
Ian Fuhr Explains Why He Likes To Launch Businesses In Unfamiliar Industries And How He Made Sorbet A Success
Support for Women Entrepreneurs2 weeks ago
Too Few South African Women Become Entrepreneurs, But This Can Change
Company Posts3 days ago
Designing Her Destiny
Entrepreneur Today6 days ago
Digital Transformation Should Be A Priority For Small Businesses In South Africa