and what you’re looking for, it’s easier to find someone who can make a good intro or schedule yourself to be at the right time, place and mind set to grab the right opportunity. Create your own chances and don’t wait for them to happen. Try to be on stage
If there’s a chance for you to be pitching or talking on stage, there’s a bigger chance you’ll get more exposure faster and maybe the right person will come looking for you instead. If that’s not an option for you, then try to get involved as much as possible, attend sessions, rent a booth, join workshops. Don’t just stand there, be there! Don’t miss the big opportunities by thinking small
A lot of people think that these events are a waste of time. I can say from a personal experience that the right events aren’t. Our company was able to successfully raise its first big round from a single day at RiseUp in Egypt. It took us one opportunity to pitch at the right panel and we were able to set the first stone that was just the beginning to a series of other rounds, and it all started on that day. Lesson learned: all it takes
is one right opportunity to change the course of your journey, so don’t miss it. Learn more about your audience
I’ve seen first hand a lot of people pitch to big investors at these big events. They think that if they just talk about their idea, investors will be swept off their feet and throw in their money. It’s safe to say that this never happens. If you get the chance to talk, start with the important numbers, lead with your traction, show them you’re building something successful and they’ll want to hear more about the idea behind it.
for others. The right events will help you knock on more than one door at once and with good planning and preparation, you might open the right one that was meant just for you. Start networking and getting your business the attention it needs to get to the next level!
investors are more likely to feel more trusting of you if they know you spend your time working on your company and less time being distracted by social events. The key here is knowing how to balance.
Think different
You might fail at reaching the right investors at an event, but there might be an even better chance for you to find the right partner or grow your customer base. These events are a good chance for you to market your company to potential customers, employees or partners. Make the best out of that opportunity, talk to as many people as possible! As an entrepreneur you should know by now that there’s no right formula to building a successful business. What worked for some might not necessarily work
SugarMoo co-founders Raki Phillips and Jawad Yehia
TREP TALK ME THE BUSINESS SugarMoo THE ‘TREP Co-founder Raki Phillips Q What are your top three tips for MENA entrepreneur looking to start a business? A “First, take your time with your business plan. Develop a concept and work on it over and over until you feel it’s perfect, then work on it some more. Your business plan has to have a solid core and defined purpose, yet fluid enough to adapt to the several changes it may need to become a viable business. Also, get good legal advice, as it’s so important to
have that tightly buttonedup. Secondly, review the financials! Make sure you are well-funded and your business plan makes sense financially. Raising capital can be much easier with a solid financial model. Have a buffer in your working capital, as you will be hit with expenses you are not prepared for. And finally, hire the right team [as] they will get you to your goal faster. I always believed in hiring people that are better than you! They will only drive you to elevate yourself to the next level. If someone is not working out, then don’t let them hold you back. Make sure you surround yourself with a team that has one vision and endless passion.” www.sugarmoo.com
january 2016 Entrepreneur
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