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  • Premier'S Council On Skills: Entrepreneurship

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    The document discusses challenges faced by small businesses and startups as well as skills needed for growth. It notes that limited resources, lack of business skills, and disproportionate scaling are common reasons for startup failure. To succeed, startups must balance growth across customers, product, team, business model, and funding. The document recommends training, mentorship, funding, and business support services to help small businesses develop necessary skills and grow into medium enterprises. It also proposes initiatives like entrepreneurship programs, easing regulations, funding options, and business accelerators to support startup growth in the Western Cape region.

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    The document discusses challenges faced by small businesses and startups as well as skills needed for growth. It notes that limited resources, lack of business skills, and disproportionate scaling are common reasons for startup failure. To succeed, startups must balance growth across customers, product, team, business model, and funding. The document recommends training, mentorship, funding, and business support services to help small businesses develop necessary skills and grow into medium enterprises. It also proposes initiatives like entrepreneurship programs, easing regulations, funding options, and business accelerators to support startup growth in the Western Cape region.

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    41 views8 pages

    Premier'S Council On Skills: Entrepreneurship

    Uploaded by

    api-148228451
    The document discusses challenges faced by small businesses and startups as well as skills needed for growth. It notes that limited resources, lack of business skills, and disproportionate scaling are common reasons for startup failure. To succeed, startups must balance growth across customers, product, team, business model, and funding. The document recommends training, mentorship, funding, and business support services to help small businesses develop necessary skills and grow into medium enterprises. It also proposes initiatives like entrepreneurship programs, easing regulations, funding options, and business accelerators to support startup growth in the Western Cape region.

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    of 8

    PREMIERS

    COUNCIL ON SKILLS

    ENTREPRENEURSHIP
    12 Feb 2013

    www.knifecap.com @KeetvZ @KnifeCap

    Keet van Zyl

    Business Building

    The Startup Curve

    Path to Sustainability Growth & Scale SME

    Ini'al Enthusiasm

    Reality Check

    Execu'on Skills, Networks, Lack of Funding Trac'on

    STARTUP

    Opportunity Cost

    Crash of Inep'tude *
    * Inep'tude: Unskillfulness resul'ng from a lack of training

    Challenges of a Small Business Limited 2-5 people Resources Networks Bootstrapped infrastructure Focused on product, not customer Technical minds but limited business skills Mentorship Support Services

    Red Tape Short 'meframe to make it work Access to Funding Funded by 3Fs (Friends, Family & Fools) Compe''ve environment

    Why Startups Fail ? Startup Genome Project At the core of any successful business:
    1) Good Product / Service 2) Large Market for that Product

    This enables the Startup to grow/ scale (and become sustainable) To scale properly it must balance growth of 5 core dimensions:
    1) Customers 2) Product 3) Team 4) Business Model 5) Funding

    Business Skills

    Dominant reason for Startup failure? Dispropor'onate scaling of one or more of those dimensions!

    Skills required to grow from Small to Medium Enterprise Balanced scaling/ growth of Business Skills: Voca'on vs. Business Business/ strategic planning Financial management Success can be Engineered: Sales & Marke'ng insights Training, Mentorship, Experience, HR & employment assistance Funding, Support Services Corporate governance SKILLS/ Product development & pricing strategies KNOWLEDGE Access to legal & IP services Crea'on of business networks Market access Interna'onal expansion enablement FUNDING Funding op'ons / Facilita'on of funding NETWORKS

    Game Changers for Growth of Western Cape SMEs


    Entrepreneurship Training Facilitate Ease of Doing Business Build Western Cape Entrepreneurial Ecosystem Co-investment/ Fund Raising Support Western Cape Growth Equity Fund ?

    Early-Stage Investment Incen'ves

    Catalyse Business Accelerators

    The WC needs to accelerate the successful development of scalable SMEs to posi'on them to be sustainable, abrac've to investors and able to take advantage of growth opportuni'es

    THANK YOU

    @KnifeCap

    @AngelHubZA

    www.knifecap.com keet@knifecap.com @KeetvZ

    Keet van Zyl

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