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      Home LAUNCH Starting a Business Start-up Advice

      Selling The Dream

      When you’re starting a business, the secret to success is getting everyone — from customers to suppliers — buying into your vision.

      Alan Knott-Craig by Alan Knott-Craig
      Jan 11, 2019
      in Start-up Advice
      205
      starting-a-business
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      I started a company in 2016 offering road building in residential areas for local municipalities. I realised that there is too much risk involved and I do not have the capital to purchase machinery. The overheads are also too high. I feel more comfortable supplying municipalities with commodities. I have been in sales and have good people skills and sales experience. However, I’m struggling to get a foot in the door. Manufacturers are reluctant to give me a credit advance. As a result, I had to let go of many opportunities. How do I overcome this obstacle? — Martin

      I can only speak from my own experience selling to municipalities. I did it once, successfully. This is how I did it:

      1. I convinced the municipality to roll out public WiFi in low-income communities.
      2. The municipality awarded me a contract.
      3. With that contract in hand I shopped around to find a company that I could sub-contract. That company had to take a risk that the municipality would pay me, and I would in turn pay him. I had to take the risk that the sub-contractor wouldn’t deliver the goods.
      4. I found a sub-contractor.
      5. We deployed the WiFi.
      6. The municipality paid its bills.
      7. There was never a hint of corruption.

      In retrospect I realise I was the beneficiary of a succession of benevolent miracles.

      Miracle No. 1: Meeting a political leader that shared my vision and was competent.

      Miracle No. 2: Getting a legitimate contract out of a municipality.

      Miracle No. 3: Finding a sub-contractor I could trust, and that trusted me.

      Miracle No. 4: Successfully working with the municipality to fulfil the contract.

      Miracle No. 5: Getting paid by the municipality.

      Miracle No. 6: Avoiding corruption.

      If you believe in miracles, keep going. If you’re slightly more risk-averse (or less desperate) than I was, then rather don’t target municipalities to build your business.

      You’ll note that I solved the supplier credit problem by finding a sub-contractor that trusted me. That’s the only way to do it. Not only do you have to sell the dream to the customer, you must sell the dream to the supplier. I recommend reading Shoe Dog, the story of Phil Knight and Nike.

      I want to start a business, but I don’t know how to approach my local bank or investors, probably because I don’t have any experience in the business field. I am currently in a full-time job and holding on to the security of the monthly salary (which I know is wrong) but I have responsibilities. How do I break out? — Lorenzo

      First, the security of a monthly salary is under-rated. Don’t be so quick to wish it away! Of course, a salary is a long-term dead-end. When you’re forced to retire at 65, you’re likely to be staring at 35 years of supporting yourself and your family relying on pension and savings alone. Assuming they don’t retrench you before age 65.

      Be grateful for a salary, but be on the look-out for a way to make a living on your own terms.

      That way you will learn skills that can be used after forced-retirement age, and even more important, you will be able to keep yourself busy rather than spending your old age pottering around the house in boredom and driving your significant other mad.

      Forget about banks and investors. If you want to start a business, you must do it without ‘other people’s money’. Find a problem in your industry, solve that problem, get paid for solving the problem. Repeat.

      Ideally find a like-minded colleague that you trust, pool your efforts and partner to find a way to make a living in your own business. Partnership massively de-risks entrepreneurship.


      3-rules-for-being-an-entrepreneurAlan Knott-Craig’s latest book, 13 Rules for being an Entrepreneur is now available.

      What it’s about

      It’s easy to be an entrepreneur. It’s also easy to fail. What’s hard is being a successful entrepreneur. For an entrepreneur, there is only one important metric of success: Money. But life is not only about making money. It’s about being happy. This book is a collection of tips and wisdom that will help you make money without forgoing happiness.

      Get it now

      To download the free eBook or purchase a hard copy, go to www.13rules.co.za. To browse Alan’s other books, visit bigalmanack.com/books/

      Alan Knott-Craig

      Alan Knott-Craig

      Start-up guru. Tech genius. Best-selling author. Alan Knott-Craig is a World Economic Forum Young Global Leader and the founder of more than 20 companies in the tech space who shares his expert advice and insights with entrepreneurs in the start-up phase. To find out more about his latest book, The 13 Rules for Entrepreneurs, go to bigalmanack.com/13rules/

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