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ENTREPRENEURSHIP?

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don'tfearfailurein thesamewaythatmanydo.Sure,Idon,twantto fail,andIdoeverythingIcanto avoidit,butthefearof failuredoesn'tpreventme fromtakingbigrisks.I thinkIhavecourage.Andthiswillingnessto takeriskswithmyownmoneywasdefinitelyabig factornlandingthefundingwedidforYola.Ithinkitmadea bigdifferencethatIhadpersonallvinvestedaboutR2 millionofmy ownmoneyntothebusiness.Itshoweda willingnessto putmyown neckontheline,whichshoweda realcommitmentto makingthebusinesswork.AndI thinkthatwehada greatideaaswell.lTALtSTARTEDf{GAPE T0W1l.I wasrunninsoneof mvpreviousompaniesa edCl cks2Custmers,nJ*"creaeiwebsite-buildingsoftwareforourowninternalusetobuildwebsitesasterorourcustomers.Werealisedtherewasa mar_ketforbusinessesobe ableobuildtheirownwebsites,nsteadofhavingtopaysomeoneelseo do itforthem.Theideamadea lotof sense,articuiarlyin themassmarkettargetingsmalltomedium-sizedbusinesses.Everybusinessneedsawebpresence,butentrepreneursoftenlackthecapitalto paya companytoffeateoneforthem.Ifwecouldgivethemthetoolsto createheirownwebsiteforIree,wewouldbeonto somethingbig.Wealsoknewthattheworldwaschangingandthatsoftwarewasmovingincrea._inglyto theweb,sothe ideawastoputthesoftwareonlin=insteadofsellingtto peopleon aCDwhichtheywouldther-havetoinstall.Takingthecompanyonlinewouldalsooper.upaccesso anenormousgiobalmarket.Withthat,I decicie:toleaveClicks2Customersn2007.boughtthetechnolo:.andtheintellectualpropertvoutof thecompanyandsp.*:offanewcompany,Sr.nthaSitenMarch2007whichis rr-r-.::eventuallybecameYolan-\pril2009.

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STATE$.ButtheSouthAfricanventurecapitalistsdidn,trealtygetthebusinessconcept -theydidn,tthinkitwouldwork_andtheUS venturecapitalistsweren'treallylookingto rnvestina SouthAfrican-basedcompany.Sot madesenseo runthecompanyfromtheUnitedStates.Howeverthat broughtwithit itsownsetof problems.Thefunderswantedto knowhow Iwasgoingto getintotheStates,howI wasgoingtoorganiseworkpermitsand thelike.Atthe timeI didn'thaveanyreallygoodanswersothoseques_tions.I hadtodo researcho findoutaboutthe visaprocess,andlet metellyou,it'scomplicated.Theonlywayto reallygetintotheUS s toapplyforwhat'scalledan L1Visawhichmeans]'ouha\.eo workforaSouthAfricancompanyandthengettransferredoan associatedompanyntheUnitedStates.Sothat'sn.hatrvedid.WesetupSynthaSitenSouthAfricaandanassociatedScompany,andthenappliedfor visas.t tookfourmonthsanda otof paperwork,butwesucceeded.Ihad givenmyselfa timelineof threeto fourmonthsto getrunding,but ittookmecloseronineintheend. FortunatelyI hadequitvbuiltupthat Icoulddrawonancl Iliquidatedsomeshareshadinothercompaniesnorderto keepthecompanvat-loai.

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COLUilBUSUEIITUREGAPITAI,whichat thetimewas partciJorarLnRupert'sRichemont.Gettingthatinitialinvestmentr..-a.irigboostforus. Itenabledustosetup officesntheU::::jStatesandto keeppayingsalariesothutwecould:.:.:nueton'orkondevelopingand improvingtheproduct.L:rdingthat initialamountwasn,teasy.Generallyyouneed:: :.:\"-esomethingto showfundersbeforetheyarewilling--r..1'est.oirstly,we raisedwhat'sknownas aconvertible:--,:-a smallamountoffundingwhichwasput inbyfam_:--.=:;riendsustto keepthe businessafloat.Thisstabilised-:-:.:.and allowedus togetto thepointwherewehadbuilt:-:.=::tngthatinvestorsmightbe interestedntakinga bite-,,. I:s easiero startwith lowertundingrequirementsand-=: ::ildup tothebiggernvestmentamounts.

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Igt"*up ina smallowninSouthAfrica,a''boywatchingmoviesikeWa11f cefandwantingtobe somethingmore.alwaysknewI wantedo runmyownsuccess_'fulbusiness,hatt didn'twantto eadaboringife. t'sprobablya fairlyrypicalstoryof manyentrepreneurs,utI guesswhatsetsmeapartromotherssthatI

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