Entrepreneurship is a high-risk, high-reward game. It’s not for the faint of heart, and if you’re not careful, you can make some serious blunders that could sink your business before it even gets off the ground.
There are many mistakes that entrepreneurs make on this journey. For example failing to validate your idea. Just because you think you have a brilliant idea doesn’t mean that anyone else will agree with you. Your mom might say it’s amazing, but that doesn’t mean the market will.
You need to do your research, put in the time, and make sure that there is a demand for your product or service.
It’s like showing up to a party wearing a Hawaiian shirt and flip flops when everyone else is wearing a suit and tie.
Sure, you might think you look cool and relaxed, but everyone else is wondering why you didn’t put in the effort to dress appropriately.
Don’t be the Hawaiian shirt guy of the business world.
Take the time to validate your idea and make sure there is a market for it. Otherwise, you’re just throwing your time and money away, and no one wants to be the guy who wasted their time and money on a failed venture.
Do your research, talk to potential customers, and get feedback from people who aren’t your friends or family.
Validate your idea before you invest all of your resources into it. It’s better to find out that your idea isn’t going to work early on than to waste years of your life on a sinking ship.
My Biggest Blunders Speaker: Antoinette Prophy, Seasoned Entrepreneur and Founder of 88 Business Collective
Catch Antoinette Prophy, a seasoned entrepreneur started her entrepreneurial journey in 2004 after leaving McKinsey and Company with the aim to positively influence how business is done in Africa.
She started her first business, Afrofusion Advertising in her mother’s lounge with R200, a laptop and a pocket full of dreams and hopes for this beautiful continent. Over the past twelve years, she gained extensive experience in accessing new markets by taking her business to Uganda, Kenya and servicing clients in Nigeria.
She is passionate about the entrepreneurial space across the continent and shares her expertise by mentoring emerging entrepreneurs. She launched the 88 Business Collective in 2016 and focuses on accelerating women owned businesses from marginalised communities utilising her Growth Through Collaboration methodology.
Catch Anto at My Biggest Blunders | Pretoria taking place on Wednesday, 26 April 2023 in Pretoria from 10:00 until 15:30.
There is free admission to the event but registration is required due to limited space. We expect this event to be fully booked like our last one.
To register, please go to this link: My Biggest Blunders Registration.
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