New businesses don’t need capital

Business startup capital

The biggest misconception about business, is that to start a business you need capital.

It is something I actively fight – you build a business based on what you can afford.

When I originally started my first business, I had R100, all I could afford at that time was to go buy muffin mix and sell muffins on the side of the road. The money I made from that eventually grew to me being able to negotiate a deal with Nestle to purchase coffee machines. I could now sell coffee and muffins on the side of the road.

As each business grew and I had more money available, it opened up additional doors and took me on the journey to where I am today. I now own the most luxurious magazine on the African continent as well as being a shareholder of None of this was by design, all of this was based on decisions, entrepreneurial behaviour and the amount of money I had in my pocket at that time.

When people come to me now and say please can I invest in them and aid them with regard to gaining finance, my answer is always no. Instead I ask them what they can do in that space, that time and with the money they have available to be able to grow, learn and be entrepreneurial.

Being entrepreneurial is not about having one business idea but being able to see an opportunity based on your current space, current means and current experience in the market place you are dabbling in.