Got a question on growing a business in Africa? Try asking the Venture Capital for Africa community, with the VC4Africa Q&A tool. Or show the world your expertise by answering a question. Below two of the many questions that were asked: Why should I present my business online & how to raise funds successfully? VC4Africa members with specific question on how to get their business plan ready for investment can also call us on VC4Africa’s Free Feedback Friday – this Friday, March 8, between 15:00-17:00 CET (see below).
“Everytime when I have time, I go through the ventures posted on this platform and get to read the updates. If I were an investor, I’d really have a lot of options for investment and could at anytime contact the entrepreneur. What are the other advantages of having a venture online? For those who have already posted a venture, can you tell us your opinion?”
One of the answers came from Tawanda Kembo, writing from Zimbabwe:
“I think the biggest advantage of putting your venture online is that it gives you a chance to tell the world your story (about your company) in your own words. When a customer first learns about you from a Google search, you are the one in control of your reputation – you get to decide their first impression.”
On Venture Capital for Africa, the biggest and fastest growing online community connecting African entrepreneurs and investors, more than five hundred venture profiles have been published, from over thirty-five African countries. After joining VC4Africa you can publish your venture, and when looking for funding, you can follow the five steps to fundraising on VC4Africa.
Marco-Hans Van Der Willik shared the following question on fundraising on VC4Africa’s Q&A section:
“To those who have been successful in raising funds:
1. What, in hindsight, was the most surprising aspect of the process?
2. If you could do it over again, what would you do differently?
3. What worked really well for you?”
Ibrahima S K Soumano answered from Guinea, with “three main points an investor ultimately wants to see”: “A realistic business plan, passion for the business and a determination to be successful”.
Tonie M. Kendo answered from The Netherlands to all three questions. Her first point: “In my position, where I actually raise funds for others, transparency is key. You are promoting someone else project or business, so the last thing you need, it is to be confronted with something you have not been informed about”. Second, she mentions investing time in due diligence, field visits and collaboration with other actors in the sector as something to do more. And third, what worked really well for her is “Communication, Harmonization, Participation”: “When sharing the same vision with the people you are involved with, communicating and harmonizing action, you move much more efficiently.” And concerning participation she mentions the risk that a team may not be able to implement successfully when not involved throughout the whole process.
What are your suggestions on the two questions asked? Please share them! Why should I present my business online? And how to raise funds successfully? All of the above conversations can be found on VC4Africa Q&A, just as many more, on a variety of subjects related to investments and growing businesses in Africa. We welcome you to take a look and share your own feedback. Feel free to add your own questions and answers!
THIS FRIDAY: VC4Africa Free Feedback Friday
Do you have specific questions on how to get your business plan ready for investment? This Friday, March 8, 15:00-17:00 CET VC4Africa organizes a Free Feedback Friday: short sessions of 10-20 minutes to discuss your business plan and potential for fundraising with Saskia Reus-Makkink, Head of Investor Relations of VC4Africa. This Friday, March 8, 15:00-17:00 CET, you can call in for free. Details will be announced on VC4Africa.biz, visible for all VC4Africa members. If not a member yet, join here.