The biggest mistake entrepreneurs make when seeking funds

The biggest mistake entrepreneurs make when seeking funds

#KgadiOnStrategy Huge mistake new business owners make when seeking funds

One of the biggest mistake most first-time business owners make when seeking funds is putting large sums of money as ‘salaries for 12 months’ on top and when you check they’re in the service based business and they haven’t even allocated any money for marketing.

Truth is, most people are still running to entrepreneurship to get big salaries and be thee boss , little do they know that salaries for the first 3 years in the entrepreneurship space aren’t a priority nor are they guaranteed. You can’t have the employee mentality in entrepreneurship. If you want instant security, get a job because seeking R200k for salaries and R1k for business development doesn’t make sense. Personally, I would not invest in someone who place great value on his own salary than the business itself. Are you sure you’re not looking for pocket money?

#KgadiOnStrategy #Finance #KMStrategy #KMConsulting

byKgadi Mmanakana

I am a researcher, thought leader and consultant on New and Emerging Markets, Business Model Innovation, Turnaround and Corporate Strategy. I embraces and integrate the 4th Industrial Revolution in my work. My belief is that there's some truth to every business idea, one shouldn't be quick to throw it away.

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