Imizizi Evolution 1956 Magazine - Venture Building

1956 MAGAZINE

AUGUST 2023 | ISSUE 4

VENTURE BUILDING DARE TO BE DIFFERENT

HOW WOMEN IN VENTURE CAPITAL PIoNEER PATHS T SUCCESS

Exclusive Interview

jeff MILLER

Competitive Competition

FIND THE ANCHOR

CONTENTS Unlocking Success Through Community and Shifting Societal Norms: Empowering Women Entrepreneurs Author: Onkgopotse Khumalo

Empowering Women in Venture Capital: The Power of Supportive Networks Author: Nabeelah Mayet

Mentorship: Lighting the Path for Others to Follow Author: Kyesubire Talitwala-Greigg

Investing In Women-Led Ventures Author: Asonele Kotu

Building Supportive Networks: Examining the importance of mentorship, networking, and allyship in empowering women to succeed in the venture capital industry.

Author: Andiswa Ganyile

Women Pioneers in Venture Building: Empowering the Beauty Industry Author: Raifa Ali

Balancing work and family Author: Boitumelo Jona

Building a Purpose-Driven Venture: Overcoming Barriers and Embracing Growth Author: Kgaogelo Shai

Navigating bias and stereotype to secure funding Author: Sheryl Hoffmann

Overcoming significant gender bias Author: Segoale Mojapelo

WHY 1956 The Rock || The Woman Diverse

Canvas

Strength

Allowing Provision

Durable

Anchor

Eternal

Bold

Sharp Solid

Connected

Moldable

Dependable

9 August, 1956 -South Africa; 20 000 women from different races and background stood united against the pass law that would limit the movement of black women.

Determined but orderly, women from all parts of South Africa, some coming from as far as Cape Town, marched to the Union Buildings in Pretoria to prevent an injustice that they could foresee would impact generations to come. To this, they chanted "Wathint' Abafazi,

1 | VENTURE BUILDING

Wathint' Imbokodo…You strike a woman, you strike a rock" Everything about the 1956 march resonates with Who we are. What does "Wathint' Abafazi, Wathint' Imbokodo" mean to us? Rocks are the strongest foundation to build n. As we build, with our focus on Inclusion, Gender Integration and Diversity to be realized, our foundation must be solid and never wavering.

“WOMEN” AND “PI NEERING” : SAME – SAME Women are agents of change. It is in the nature of women to pioneer -- definition: a person who is among the first to explore or settle a new country or area.

It was easy for Yolisa and I to see the potential in the markets Imizizi Evolution is currently focused at developing and funding. We saw that by capacitating and funding one farmer for an example, can grow the businesses of the street vendors close by, the neighboring kitchens, distribution of products means more employment, etc. The attributes of a pioneer means that you can see opportunities where others see none. It comes as no surprise that women are making significant strides in the venture capital and venture building space, pioneering success and breaking down barriers that have historically limited their representation and influence in the industry.

Women funders are likely to invest in start-ups led by diverse founders, including women, people of colour, people with disabilities (empowered) and individuals from other underrepresented groups. This helps drive innovation and supports a wider range of entrepreneurial talent. Over 90% of women start businesses for impact. And data has proven that women owned businesses have a higher impact in the economy at large. In the venture building and funding space, women have developed unique investment strategies with the core focus being on social impact, sustainability, and diversity. These strategies can lead to both financial success and positive societal outcomes. At Imizizi Evolution, we are developing a model that ensures longevity and consistent growth.Our end game is to see a spread of self - sufficient , sustainable and impactful businesses. We are scaling businesses that are actively solving real world problems in Africa by re-imagining how venture building for businesses providing

2 | VENTURE BUILDING

MPONENG SESHEA

CO-FOUNDER OF 1956 MAGAZINE

essential services, in underdeveloped communities should be done. because women are always "different lens" aware, they are often at the forefront of investing in emerging industries and technologies, such as health tech, biotech, sustainability, and agri tech. This positioning allows them to shape the future of these industries. My opinion is that the more women are involved in the VC space, the greater the advocacy for diversity and inclusion within the start-up ecosystem, especially for services required as a basic need for living.

More women need to take up leadership roles in investment teams in order to contribute their expertise and influence to shape company strategies and investment decisions.

The increase representation helps diversify perspectives and investment strategies in the industry. There is still a long road before we can see a full transformation within the space, nonsystematic biases and a growth mindset and inclusive environment, but there are a few of the women who are proving its possible and leaving a blazing trail for the rest to follow.

UNLOCKING SUCCESS THROUGH COMMUNITY AND SHIFTING SOCIETAL NORMS: EMPOWERING WOMEN ENTREPRENEURS AUTHOR:ONKGOPOTSE KHUMALO

As women, we face unique challenges on our entrepreneurial journeys, especially when balancing the plethora of roles we assume in society. However, there has never been a more important time to rewrite the rules and create a path to success that is more equitable and inclusive. The power of community, selfadvocacy, and challenging societal norms have been just some of the tools that have shaped my journey building my venture, The Pocket Couch, a healthtech startup focused on leveraging technology to provide equitable access to mental wellbeing support.

Community is a vital force that fuels our drive and provides invaluable support. The stark reality around the loneliness of entrepreneurship is not often shared, which only makes the journey even more isolating. In plugging into community spaces with others both with shared and differing lived experiences, I’ve learnt to harness the power of allyship, collaboration and build credibility that being part of these communities allows for. Tapping into these communities also allows you to tap into resources that can help navigate the complexities of building ventures particularly as a woman navigating a largely male dominated space. Being a mother to a 3 year old toddler has coincidentally driven the parallel home that, in the same way it takes a village to raise a child, the same rings true for building ventures. Those communities however need to be sought out and one needs to be.

3 | VENTURE BUILDING

intentional about nurturing them.

leveraging

and

Self-advocacy is the key to unlocking opportunities. Embracing your worth and confidently articulating your needs and aspirations can really help move the needle. Along the way, I’ve learnt that if it isn’t said, consider it not heard. People typically only buy into those who demonstrate with conviction that they buy into themselves - and have the data to show it. In building a tech startup traditionally a largely male dominated space, self advocacy has often meant putting my hand up to take on things I may not have felt equipped to do at the time, but that I felt convicted I would find a way to put it together regardless. Setting boundaries, actively seeking out support, and demanding equitable sharing in parenting and home care responsibilities are crucial. We owe it to ourselves and society to advocate for our dreams, doing it often and doing it loudly if we have to.

In the case of parenting, this also means advocating for equitable distribution of caregiving responsibilities and the so often ignored unpaid labour that mothers often shoulder whilst concurrently building ventures and careers. Partnerships should be built on equitable distribution of caregiving responsibilities, allowing women the space and support to thrive equitably in their entrepreneurial pursuits.

Finally, we can have all the self advocacy and community in the world, but in the end, women ventures need to be as well funded as the next venture. Research has consistently shown that women-owned ventures are more capital efficient and generate higher returns per dollar invested compared to those led by men.

In bootstrapping my healthtech startup, it follows that we (women) do more with less because simply have no other choice.

By investing in women, we harness untapped potential and unlock a wealth of opportunities. Bridging this gap in equitable capital allocation (and fostering environments where more women are allocators of capital) is not just the right thing to do but the data shows that is a smart business decision too.

By embracing these tools and embracing these paradigm shifts, we not only accelerate the timeline to level the playing field but we also unlock the immense potential women bring to the table as the data reflects. Let's demand equitable access to funding, resources, and opportunities.

4 | VENTURE BUILDING

ImiziziEvolution @imizizi_evolution

"It must be nice having a job where you can work at home."

7:40 AM - AUG16,2023

CALLING ALL

WOMEN-FOUNDED COMPANIES Want to join the Imizizi Evolution program and take your business to new heights?

Find the anchors hidden within our empowering 1956 magazine, like and comment your answer, and share this competition to stand a chance to be a part of our gamechanging venture capital journey!

Criteria: Women founded and led.

Founder operated.

1-3 years business experience.

Must be willing to work on the business.

We encourage you to connect with like-minded entrepreneurs, mentors, and industry experts in our program.

- Send us your business profile or pitch deck Email to info@imizizi-evolution.com

@imizizi_evolution @Imizizi Evolution @imizizievolution

EMPOWERING WOMEN IN VENTURE CAPITAL: THE POWER OF SUPPORTIVE NETWORKS AUTHOR:NABEELAH MAYET

In today's rapidly evolving world, empowering women in the venture capital industry is more critical than ever.

To foster a brighter and more resilient future, collaborative Women's Month Initiatives have emerged, supported by esteemed partners HYBR, Twaa, and Rebound Africa, under the theme "Future Proofing Women for Change." These transformative celebrations shed light on the pivotal role of mentorship, networking, and allyship in empowering women to succeed in the venture capital sector.

Mentorship offers women a safe space to seek guidance, gain insights, and navigate unique challenges. The power of a mentor's experience and encouragement can be instrumental in propelling women toward success. Furthermore, networking provides a platform for women to connect with like-minded professionals and industry leaders. These interactions pave the way for collaborations, potential investments, and strategic partnerships, 7 | VENTURE BULDING

creating a supportive ecosystem where women's ideas can flourish. Crucially, allyship plays a vital role in building an inclusive environment. Male and female allies working together can break down barriers, challenge biases, and promote diversity and equity within the industry.

Through a range of events, from motivational webinars to interactive workshops, the Women's Month initiatives equip women with essential skills and knowledge. In-person events in Johannesburg and Cape Town create dynamic spaces for networking, collaboration, and mutual support among aspiring women entrepreneurs.

As we unite to empower women in venture capital, we are committed to building a more equitable future. By fostering supportive networks through mentorship, networking, and allyship, we can pave the way for a thriving and diverse venture capital industry that benefits us all.

CELEBRATING WOMEN'S MONTH IN SOUTH AFRICA: HONOURING RESILIENCE AND EMPOWERMENT 9 | VENTURE BUILDING

In South Africa, August marks a significant celebration known as Women's Month, dedicated to recognizing and honouring the invaluable contributions and achievements of women in society. This commemorative month has a deep historical significance and serves as a powerful reminder of the struggles and triumphs of women throughout the nation's history.

The origins of Women's Month can be traced back to a pivotal event in South Africa's fight against apartheid and gender inequality. On August 9, 1956, thousands of courageous women of all races marched to the Union Buildings in Pretoria to protest the oppressive pass laws that restricted the movement of black South Africans. Led by fearless leaders like Lilian Ngoyi, Helen Joseph, Sophia Williams-De Bruyn, and Rahima Moosa, this iconic march became a turning point in the country's struggle for human rights and equality.

The courage and determination displayed by these women ignited a powerful movement and demonstrated the collective strength of South African women in the face of adversity. Their actions inspired generations to come, leaving an indelible mark on the nation's history.

Women's Month is a time to celebrate the progress that has been made since that historic day and to acknowledge 10 | VENTURE BUILDING

the challenges that still persist. It is an opportunity to reflect on the achievements of women across all sectors, from politics and science to arts and business. It is also a chance to acknowledge and address the ongoing gender disparities and barriers that women continue to face.

By celebrating Women's Month, we honour the resilience and determination of South African women who have played instrumental roles in shaping the country's past, present, and future. It is a moment to recognize the vital role women play in building vibrant and inclusive communities.

Women's Month serves as a platform to advocate for gender equality, women's rights, and opportunities for all. It encourages dialogue and action towards dismantling stereotypes, promoting women's empowerment, and creating a more just and equitable society.

Women's Month in South Africa stands as a symbol of women's strength, unity, and resilience. It is an occasion to celebrate the progress made in advancing women's rights and to confront the challenges that lie ahead.

By commemorating this month, we reaffirm our commitment to creating a society where women can thrive, lead, and contribute their full potential to building a better South Africa for all.

time

QUESTION

What is the primary goal of venture building?

A

To invest in existing startups

B

To create and launch new businesses

C

To acquire and merge with established companies

D

To provide consultancy services to entrepreneurs

MENTORSHIP: LIGHTING THE PATH FOR OTHERS TO FOLLOW AUTHOR:KYESUBIRE TALITWALA-GREIGG

In the SME world, the drive and independence needed to start, build and succeed in businesses often lie to us that we can do it alone. We feel invincible and unshakable, plough through life doing ‘everything right’ and still find ourselves stuck. I recently transitioned into new projects and viewpoints because of an unanticipated mentorship opportunity. I met an investor with a heart for small businesses. I sat in the background, listening keenly, going to my room and writing down the lessons learned. At the end of a week, I knew my business model was rubbish though my business idea was pure gold. I just needed to work on it.

The offer to help was on condition that I prove my commitment to growth and transformation. In this space, my role is to figure out how to apply the information shared. Sometimes I ask a question whose answer sends me in a specific direction.

Other times a path of transformative learning opens through guided research and learning that shifts my thinking and way of doing business and life. Even better, I know my mentor is watching to see my transformation and celebrate milestones with me.

I have found valuable insight and advice to make informed decisions and open doors to learning opportunities and challenges on my thoughts that foster growth through mentorship. I am ready to light the path for other sisters to grow through Mentorship.

12 | VENTURE BUILDING

INVESTING IN WOMEN-LED VENTURES AUTHOR:ASONELE KOTU

In a world where men have traditionally dominated the business landscape, women in venture building are now paving their way to success. These pioneers are reshaping industries and proving that investing in women-led ventures is not just a moral imperative but a strategic choice for driving innovation and economic growth.

Femconnect - Empowering Communities and Driving Innovation One remarkable success story is that of Asonele Kotu, a trailblazer in the field of Femtech who has not only broken barriers but shattered them, demonstrating creativity, inclusivity and yielding remarkable returns on investment. She founded Femconnect, a platform that provides easier access to feminine hygiene products while also addressing period poverty. With over 7 million people experiencing period poverty in South Africa, Femconnect's mission is to bring social support and menstrual health awareness to disadvantaged communities.

The platform was inspired by personal experiences and observations of the challenges disadvantaged communities face in accessing sexual and reproductive health information and services. Asonele recognized the need for a user-friendly solution to disseminate information, connect individuals to services, and provide sanitary products in the comfort of their homes where they feel safe.

14 | VENTURE BUILDING

The journey to success for Femconnect was not without challenges. Initially, scepticism about the viability of the idea in 2019 posed a hurdle. However, the team focused on consistency and building a user-friendly prototype, ultimately attracting funding from international development organisations impressed by the social impact and positive outcomes for young girls.

“When women succeed, nations are more safe, secure and prosperous”

Femconnect's Continued Success and Global Vision It is inspiring to see that Femconnect is operating well, making a positive impact on the lives of many and addressing a crucial need in South Africa. Looking to the future, Asonele Kotu envisions expanding Femconnect's reach beyond the borders of South Africa. Her vision is to create a global Femconnect community where women and girls from different parts of the world can come together, connect, and benefit from the platform's services.

Supporting

Inclusivity

and

Driving

Economic Growth Women-led businesses viewpoints, resulting .

offer

distinct

in innovative solutions that cater to diverse needs. By supporting them, we foster inclusivity in the entrepreneurial ecosystem, leading to a richer talent pool and varied perspectives in decision-making. This diversity promotes innovation through collaboration and questioning conventional norms.

Data from the Boston Consulting Group also reveals that companies founded or cofounded by women generate significantly higher revenues by 10%. Investing in women-led ventures unlocks potential economic growth engines that benefit not only the businesses themselves but also the communities they serve and the economy at large.

Funding women-led ventures fosters innovation and drives economic transformation. The success of Femconnect and other women-led businesses highlights the importance of patience and resilience for entrepreneurial success. Let's continue to support and empower women entrepreneurs to create a more inclusive and prosperous future for all.

CO-AUTHOR:PALESA MATSEMELA

15 | VENTURE BUILDING

time

QUESTION

Which of the following is NOT a common stage in the venture building process?

A

Idea Generation

B

Prototype Development

C

Market Research

D

Venture Capital Funding

BUILDING SUPPORTIVE NETWORKS: EXAMINING THE IMPORTANCE OF MENTORSHIP, NETWORKING, AND ALLYSHIP IN EMPOWERING WOMEN TO SUCCEED IN THE VENTURE CAPITAL INDUSTRY. AUTHOR:ANDISWA GANYILE

The business owner Andiswa Ganyile, from John Forbes in East London stated that the challenges that she faces are fear of failure, finding work-life balance, and gaining confidence and trust from employees.

She mentioned that mentorship is very essential, as most mentors often come with lots of expertise and knowledge.

There are lots of challenges that she often deal with on a daily basis, and she sometimes get very frustrated when I don’t have a solution at hand. Having a solid Mentor actually helps to give her guidance, and my Mentorship experience has actually accelerated my learning journey and ability to adapt and even get better at overcoming most challenges in the workplace.

Networking is a very powerful tool to help female entrepreneurs grow their businesses. It’s a very safe space to share ideas and resources and meet other likeminded women who are facing similar challenges to mine. Networking also assists in building relationships with influential people who can help promote your business or even gain funding.

17 | VENTURE BUILDING

She concluded that this is a very big challenge that I myself have encountered while looking for funding. Women will continue to be discriminated against as long as there are not enough opportunities available for them to equip themselves with the knowledge and skills to better manage their businesses and receive funding. Learnership programs about Entrepreneurship must be made available to young girls so they can be aware of the challenges, risks, and kind of support they will need t succeed as businesswomen.

CO- AUTHOR: SIYANELISWA MATEBESE

ImiziziEvolution @imizizi_evolution

When you're in bed but you think of a new business idea

7:40 AM - AUG16,2023

WOMEN PIONEERS IN VENTURE BUILDING: EMPOWERING THE BEAUTY INDUSTRY AUTHOR: RAIFA ALI

In the bustling city of Pretoria, a visionary entrepreneur named Raifa Ali has paved the way for women in the hair salon industry with her trailblazing company, Hair Kair. Raifa's journey in the beauty world began with a fervent passion for beauty transformations, particularly in the realm of hair extensions. Through Hair Kair, she sought to empower individuals, especially black women, by providing exceptional beauty services, including hair styling, maintenance, and customised wig-making. Additionally, she is in the process of establishing the Hair Kair Academy, a future-forward beauty training facility, to educate and uplift aspiring beauty professionals.

As a fearless entrepreneur, Raifa encountered numerous challenges, including securing initial funding and overcoming gender biases. She tackled these hurdles with determination, resilience, and support from womenfocused entrepreneurial mentors. Through networking and presenting her grand vision with unshakable confidence, Raifa showcased the value and potential of Hair Kair to investors. Her tenacity and perseverance laid the foundation for success, setting an inspiring example for aspiring women entrepreneurs.

19 | VENTURE BUILDING

Throughout her journey, Raifa has celebrated several memorable moments and milestones. The day Hair Kair opened marked the beginning of a transformative experience for countless clients. The first anniversary, shared with loyal clients turned friends, showcased the strong bonds formed through genuine connections. "Pamper Yourself Day" became a hit as clients indulged in relaxation and self-care, solidifying Hair Kair's reputation as a haven of beauty and empowerment.

Hair Kair stands out in the industry through its genuine approach and personalised experiences. The salon's warm and welcoming atmosphere fosters a sense of comfort, making each visit special.

Celebrating diversity and empowerment, Hair Kair ensures every client leaves with a smile, knowing they are part of something extraordinary.

Raifa masterfully balances creativity and running a business by nurturing her team's creative spark and encouraging innovative thinking.

Effective time management and delegation of tasks allow her to focus on nurturing her creativity while guiding the salon's growth.

This delicate balance between

creativity and business has positioned Hair Kair as a hub of innovation and success, where beauty and empowerment intertwine.

recognized.

Regular team meetings, professional development, and fun teambuilding activities strengthen their connections, making the salon feel like a second home.

To provide top-notch services, Hair Kair stays updated on the latest trends and techniques in the hair and beauty industry. Regular attendance at industry events, workshops, and trade shows, along with following influencers and experts, ensures the salon remains at the forefront of innovation. Maintaining a positive work culture is key to Hair Kair's success. Raifa fosters a supportive and collaborative environment, where every team member's contributions are valued and .

Raifa Ali's journey as an entrepreneur in the hair salon industry epitomises empowerment, resilience, and dedication.

Her story inspires aspiring entrepreneurs to embrace their passion, stay true to their vision, and overcome challenges with unwavering determination.

As she continues to shape the future of beauty through Hair Kair and the Hair Kair Academy, Raifa stands as a beacon of hope and an example of success for women pioneering paths to success in the venture building arena.

20 | VENTURE BUILDING

CO- AUTHOR: ASHLEIGH ROODE

NE

ST

W

PODCA

Investment readiness : it’s more than just a pitchdeck

Guess Star

Jeff Miller

Listen only on https://youtu.be/AELx66VzFwE?si=2HXmttk9OmJ8ZNFq

BALANCING WORK AND FAMILY AUTHOR: BOITUMELO JONA

The need for balancing work and family for a working woman is important. This has resulted in women having tremendous pressure to develop a career as robust as males while sustaining an active personal life. Meet Boitumelo Jona mostly known as Tumi is a 42 year old woman who is pioneering her way successfully by being a businesswoman, a mother of two beautiful daughters (Oreratile 3 years and Onthatile Joneas 6 years) and a wife to Mr Ofentse Jonas.

Tumi is sole owner of Echo Garden Guesthouse located in 47 Safari Ave, Safari Tuine, Rustenburg where she operates her business with her nine employees that assist her to manage the guest house successfully in order for her clients to receive the best service in terms of accommodation, customer care, meals and comfort that is offered. In olden days men were the bread winners within the household and women would be the home makers but now things have changed. Today you will find both men and women sharing family and work responsibilities equally in order for the children to not feel that their parents were not present in their social lives. The Echo Garden Guesthouse started operating in the year 2017 meaning it survived the difficult 22 | VENTURE BUILDING

financial period for businesses which is covid-19 where a lot of of businesses shutdown or are currently working their way out of the financial losses. In the world of Tumi multitasking and the ability to schedule her day is important because she also has family responsibility she has to perform from providing emotional support, cooking food to her family, taking her daughters to daycare and sport activities in the afternoon however Mr Ofentse Jonas plays a huge role in assisting Tumi with running the household, taking care of their daughters whenever he's done with work also just being a support structure to Tumi in everything that she ventures into.

In the next coming years Tumi is looking forward to expanding her business by buying another property and operating it as a guesthouse business since the number of loyal clients returning to her Echo guesthouse is gradually increasing.

Seeing new and young females who are looking to own and manage their accommodation businesses would excite her as there is still a lot of space for growth and people to start their own guesthouse, bed & breakfast and hotels.

CO-AUTHOR:MPUMELELO SITHOLE

BUILDING A PURPOSE-DRIVEN VENTURE: OVERCOMING BARRIERS AND EMBRACING GROWTH AUTHOR: KGAOGELO SHAI My name is Kgaogelo Shai, I am the Business Development Director for Significant Consultants, a purpose driven business that equips unemployed graduates with essential employability skills and experiential learning opportunities. Our mission is to empower them with the right mindset and practical experience to integrate successfully into the world of work. Venture building has been an enlightening journey, one that required more than just a solid business plan and determination to harness my skills and experiences. It challenged me to confront my fears and insecurities, to develop a deep sense of self-awareness and understanding my value. By understanding my strengths and areas for improvement and seeking growth opportunities, I developed the resilience needed to navigate this challenging path. As a purpose-driven venture, we strive to balance ambition with impact and scaling down on activities that do not align with our core mission. Having a clear purpose sustained us through tough times and allowed us to stay committed to helping young people access opportunities. Additionally, being part of a supportive network that grants women access to valuable tools and resources has been instrumental in our growth.

Seeking mentorship opportunities has been crucial in our journey. It has not only provided guidance but also led to the development of strategic partnerships that propel us to scale and grow our solution services. Despite facing setbacks, we view each day as an adventure, believing in our business's vision and capabilities to overcome challenges.

23 | VENTURE BUILDING

time

QUESTION

What is a "Minimum Viable Product" (MVP)?

A

A product with all possible features included

B

The final version of a product ready for market release

C

The most basic version of a product that can be tested with users

D

A product that requires minimum investment to develop

NAVIGATING BIAS AND STEREOTYPE TO SECURE FUNDING AUTHOR:SHERYL HOFFMANN Sheryl Hoffmann was born in 1968 in South Africa during a time when it was expected of women to be the primary caretaker at home and if they chose to work it was in administrative and sales positions. As women were not prioritised anywhere in South Africa basic management skills and business acumen were not considered necessary. After completing her matric in 1986 she was unable to study further and was expected to work to assist her family.

She started her career in sales in 1987 and realised this was a way to make good money. Between 1987 and 1997 she sold in various industries, married and had a son.

In 1998 she found herself without work as the company she worked for went insolvent. Work was scarce and after seeing an advertisement for people who wanted to take charge of their destiny, applied. She was employed in a whole new industry and knew to succeed she had to learn a whole new skill set. She was now employed in the agriculture industry initially working in the hygiene division in sales and worked her way up to the National Corporate Account Manager of the largest soft service company in the World. Rentokil Initial taught her structure, and discipline and allowed her to develop skills as a woman in a predominantly male industry, at this stage she covered all the services in the companies basket including Pest Control, and as new as she was in the industry she told herself “one day I am going to start my own company and it is going to be so successful that giant companies want to buy it”.

25 | VENTURE BUILDING

She worked in the industry at different companies including BIDVest Steiner group, Cannon Hygiene, Ecolab and even on the “other side” as the National Procurement Manager for soft services for the Tsebo Group. During this time she realised to succeed in business she had to “think like a woman and behave like a man” to be successful. She knew the bias that she had to overcome was presenting her findings in an objective way with numbers to support it. Growing up without resources also meant she had years of experience understanding funding was based on a positive return to the lender.

Faced with unemployment in 2017, Sheryl once again decided to defy the norm and started a Pest Control and hygiene company with a former supplier, registered her company in June 2018 and got her biggest tender in November same year then near the end of 2019 Covid hit and she and her partner had to go for 6 months without taking a salary to ensure that the colleagues are taken care of, she was able to do this as she had learned that banks would support people they could trust and they assisted with debt relief during this period in order for her to ensure her staff was paid. As the services were essential services the company continued to trade throughout Covid. As she had always been in charge of the operational side of the business she knew that her business financial records were strong and that if she needed funding she could approach this with confidence.

In 2020 as the first hard lockdown was implemented, their largest client was placed in Business Rescue. Based on what was happening worldwide she realised this was not a normal occurrence and took a calculated risk and decided to fight through for her company, clients that now needed the service more than ever and staff. This meant she was in need of funding and the business experienced a lot of bias against women when she tried to knock on many government offices for funding, the fact that she was a woman in the agriculture and pest control industry was a barrier.

Through her resilience in entrepreneurship, she continued to seek funding in the private sector where she managed to navigate against the bias and stereotype in the industry through her good credit record and good cash flow management practices when she went to the private sector they just asked her to provide her cash flow statements, looked at her credit record and found her fit to receive funding for her business, in 2021 she used some of the money from the business rescue funds to buy off her partner and is now a sole owner of Infinite Programme. And in 2021 the seed she planted in her head 23 years ago materialised and she was approached

by Rentokil Initial which is a global giant in the industry to buy her firm that showed her that indeed she has made her mark in the industry and as a business woman in the male dominated industry.

26 | VENTURE BULDING

Her advice to women is that they must seek to learn to do things by themselves, learn the skills required in business, be professional and know where they need guidance and ask how to do it. Never ask someone to help you do it as you will never learn to do it right for yourself. Her advice to the government is that if they want to uplift female entrepreneurs they should not only help them, but they should teach them the necessary skills so that they can be able to be independent as the famous say goes “ Give a man a fish, and you feed him for a day; teach a man to fish and you feed him for a lifetime” Women are warriors, resilient, strong and dynamic.

Once we overcome the need to require/ request and even ask permission to be ourselves in a society that deems this the norm, we overcome the bias of being a Woman Owned Company and then are seen as a successful business and not defined by gender. Funding is determined by returns on investment not gender, if you believe this you will succeed. But with a touch of red lipstick and a power suit!

"Let us teach our women the necessary business skills if we want them to succeed in business”

CO-AUTHOR:NDUMISO JOBE

27 | VENTURE BULDING

URBAN ZULU HAIR SANDTON Home

of

Natural

Hair

care

https://urbanzuluhair24.booksy.com urbanzuluhair

Urban Zulu Hair

time

QUESTION

What role does a "Venture Builder" typically play in the startup ecosystem?

A

Funding startups with their own capital

B

Providing office spaces for entrepreneurs

C

Offering mentorship and expertise to early-stage startups

D

Developing marketing strategies for established businesses

OVERCOMING SIGNIFICANT GENDER BIAS AUTHOR: SEGOALE MOJAPELO

Segoale Mojapelo's incredible journey began in the village of Ga-Matlala, Polokwane, where she sold oranges at the age of 8. Her passion for entrepreneurship led her to become a teacher with multiple qualifications, including a BA degree, BEd, Diploma in Pedagogics , Diploma in PHYS ED and more.

In 1994, during South Africa's independence, Segoale spotted an opportunity in the property market when she bought her first property in Pretoria.

With her visionary and risk-taking mindset, she became the first black female to enter the property industry.

Overcoming significant gender bias, she embraced professionalism, honesty, and integrity, setting a new standard in the challenging property market. Despite facing doubts about her success, Segoale's hard work and dedication made her one of the top agents, even while working part-time.

In 1996, she founded her agency, Segoale Properties, aiming to bridge the gap in property sales between townships and suburbs. She continues to mentor aspiring entrepreneurs in the field.

Creating a supportive network, Segoale formed a Forum with Jan Le Roux and Lischel Baker from Better Bond, leading to increased sales through partnerships and knowledge sharing. Her wise approach and collaborations with other agencies proved successful in overcoming challenges. Partnering with attorneys, she provided training and legal support to agents.

For aspiring women entrepreneurs, Segoale advises to dream big, gain knowledge, and keep persisting.

Seeking support structures, mentorship, and government programs like SEDA and SEFA are vital for success. " The most important day is not when you were born BUT the day you know WHY you were born “. - Segoale Mojapelo CO-AUTHOR:JEREMY FRANKS

30 | VENTURE BUILDING

BEYOND BOUNDARIES In the tapestry of human history, boundaries have often been synonymous with women's narratives. From societal norms to personal barriers, women have been boxed into roles and expectations.

The corporate ladder sometimes seems more like a maze for women, especially in male-dominated fields, I speak from personal experiences. Yet, the indomitable spirit of womanhood continually charts paths of success, breaking barriers and redefining boundaries. From birth, many women are handed a blueprint of expectations—how to behave, dress, and even dream. In various cultures, these chains can be stifling. Yet, the women who marched in 1956 defied norms exemplifying the spirit of challenging boundaries.

Internal struggles often pose the most formidable barriers. Self-doubt, fear, and societal pressure can create invisible chains.

Yet, countless women, by embracing self-worth and seeking support, have turned their vulnerabilities into strengths.

Behind many successful women is a network of mentors and a supportive community, who are mostly women.

Venture Capital, historically steeped in male dominance, represents one of the pillars of the financial realm. Within its walls, startups find their footing and dreams receive the fuel to soar. However, for many years, the insights and voices of women were notably absent from its corridors. Women are actively pushing against and transcending barriers in the Venture Capital (VC) industry in several innovative and impactful ways, which is a start even though much ground is yet to be covered.

The future holds the promise of a world where success stories aren't defined by gender but by determination and talent.

From ensuring equal salaries to equal opportunities for access to funding, there's much ground to cover. The essence of breaking boundaries lies not just in achieving personal success but in forging a path for those who follow.

YOLISA TSHABALALA

CO-FOUNDER OF 1956 MAGAZINE

31 |VENTURE BUILDING

time

QUESTION

When assembling a founding team for a new venture, what is a crucial factor to consider?

Only hire individuals with prior startup experience

B

Focus on hiring people with similar skills and backgrounds

C

Ensure the team has a diverse range of skills and expertise

D

Avoid including technical experts in the initial team

Answers: b d c c c

A

Onkgopotse Khumalo Founder - The Pocket Couch “My passion for entrepreneurship was heavily influenced by my mother's entrepreneurial journey. Growing up, I witnessed first-hand the challenges and rewards of building a business from the ground up.” www.thepocketcouch.com

AUTH RS

Onkgopotse Khumalo

Nabeelah Mayet Head of Marketing "Doing business without advertising is like winking at someone in the dark. You know what you doing but no one else does. " nabeelah.mayet@hybrgroup.net

Kyesubire Talitwala-Greigg Founder Akiko Stories #NoExcuses #NoLimitations #LivingEpistles http://kyesubire.com www.thepocketcouch.com

Asonele Kotu Founder FemConnect Sometimes the challenging times are catalysts of all thriving times in our lives. We need to learn to not be afraid to rise after every fall we encounter! kotuasonele@gmail.com

AUTH RS

www.femiconnect.com FemConnect ZA

fem_connect

femconnect_

FemConnectZA

Andiswa Ganyile John Forbes Pharmacy A winner is a dreamer who never gives up - Nelson Mandela luta7882@gmail.com www.JohnForbespharmacy.co.za Andiswa Hobongwana-Ganyile Liphumile Ganyile

Raifa Ali Founder of Hair Kair Raifa Ali

Boitumelo Jona Founder of Echo Garden Guesthouse Tumi (Kgaladi) Jonas

Kgaogelo Shai Business Development Executive

AUTHORS

Tumi (Kgaladi) Jonas

Sheryl Hoffmann Owner If you don't build your dreams, someone will hire you to build theirs - Tony Caskin sheryl@infinite-programme.co.za www.infiniteprogramme.co.za Sheryl Hoffmann Infinite Programme

Segoale Mojapelo Principal Property Practitioner / Businesswoman

"Sometimes the challenging times are catalysts of all thriving times in our lives. We need to learn to not be afraid to rise after every fall we encounter!" segoalem@worldonline.co.za https://www.segoaleproperties.co.za/ Segoale Mojapelo segoale_properties segoaleproperties

Ashleigh Roode Entrepreneur_in_Apprenticeship @GrowthWheelSA

CO-AUTHORS

"Trust God"

Siyaneliswa Matebese Entrepreneur_in_Apprenticeship @GrowthWheelSA Spread love everywhere you go. Let no one ever come to you without leaving happier. -Mother Teresa

Ndumiso Sithole Entrepreneur_in_Apprenticeship @GrowthWheelSA "Make every opportunity you get count"

Palesa Berlina Matsemela Entrepreneur_in_Apprenticeship @GrowthWheelSA

CO-AUTHORS

"Never underestimate the might of your capabilities, for within your creative mind, unwavering effort, and resolute courage lies the alchemy that transforms dreams into reality.."

Mpumelelo Sithole Entrepreneur_in_Apprenticeship @GrowthWheelSA "Never stop fighting for what you believe in"

Jeremy Franks Entrepreneur_in_Apprenticeship @GrowthWheelSA "You'll never be happy till you love yours"

"FREEDOM CANNOT BE ACHIEVED UNLESS WOMEN HAVE BEEN EMANCIPATED FROM ALL FORMS OF OPPRESSION." - LILIAN NGOYI