Young entrepreneurs enlightened on how to pitch business ideas to investors
Over 20 young aspiring entrepreneurs gathered at the Windhoek Base Entrepreneurs (WEB) for a FABLAB event to acquire clear guidance on how to conduct an outstanding pitch and present business ideas to potential investors.
Key speaker and business advisor, Outreach Namibia Advisor from Transcending Lives Continuously (TLC), Lawrence Hawl, who spent nearly eight years in Russia and about ten years in Germany crafting his entrepreneurial journey, indicated that it does not matter what kind of business one would want to pursue but rather that the key factor should be the people interested in your business.
He encouraged entrepreneurs to consider stakeholders as key to their business success, adding that they should primarily explore and execute the stakeholders’ needs.
He further pointed out that the business value proposition is one of the core business competitive advantage.
“The value proposition clearly articulates why someone would want to buy from your company compared to other similar offerings,” he said.
According to him, the revenue stream of the business is the building block representing the cash generated by the company; “Revenue stream is not mere profit, it is income minus costs from each customer segment.”
Hawl described the event as a great platform that stimulate the country’s economic development. “Events of this magnitude position people to nurture their growth and seek for new business opportunities,” he added.
In addition, Auri Evokari, International Programme Officer, guest speaker from Southern Africa Innovation Support (SAIS) cautioned the group of entrepreneurs in attendance to modify their pitch presentation with a flair of personal life.
“Your pitch must be short with a clear description of your business solution,” she said. Evokari thanked the event organisers for coming up with such an exciting business platform for the start-up community.
Furthermore she called on all aspiring young entrepreneurs to make use of the Windhoek Base Entrepreneur as their professional co-working venue.
WEB co-founder and event organiser Audrey Akwenye explained the importance and aims of the FabLab event hosted at their venue, which served its purpose of facilitating a great networking platform, as well as to give pitching tips and techniques to all aspiring entrepreneurs.
She urged people in the commercial industry to visit the WEB corporate website and social media pages for further event information.