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Tuesday, 24 February 2015 08:10

Entrepreneurial Life Cycle

By: Global Entrepreneurship Institute

GCASE – Global Community for Advancing Studies on Entrepreneurship

The Entrepreneurial Life Cycle repeats itself in businesses of all sizes, from start-ups in a garage to corporate entrepreneurship activities in global Fortune 500 companies. It starts with an entrepreneur who perceives an opportunity, creates an organization to pursue it, assembles the required resources, implements a practical plan, assumes the risks and the rewards, all in a timely manner for all involved. We present the seven stages in the Entrepreneurial Life Cycle.

Published in Endeavor SA Blog
Monday, 16 February 2015 11:15

How entrepreneurship boosts inclusive growth

20141120 GEW-Linda-RottenbergIt was an unusual place to be inspired. In the back of a taxi, winding through Buenos Aires, a seemingly innocuous conversation sparked a two decade mission.

I still hesitate to call the man up front a driver. He had a PhD in engineering, driving because there was no other option. “Why not start a business?” I asked, seeing in him potential that he may not have seen in himself. He quickly dismissed the idea; he wasn’t a big businessman - empresario in Spanis - so how could he start a company?

Seventeen years later, Endeavor has spread to 22 countries, leading a global movement to give more  than 1 000 entrepreneurs the confidence to answer that question - why not start a business? - with another - how big can its impact be? In societies where entrepreneurship used to be the domain of either the extremely poor - micro-entrepreneurs - or the very wealthy - the empresarios, Endeavor is building an inclusive middle path, making high-impact entrepreneurship the foundation of prosperous societies worldwide.

Some of Endeavor’s most inspiring entrepreneurs are also those whose successes, in another era, would have seemed most unlikely. They are people who, without the confidence to start and scale a business, might have remained outsiders. Instead, today they are more than founders of world-class businesses; they are the catalysts of a movement to democratize entrepreneurship and to make sure that its rising tide lifts millions into the middle class.

Published in Endeavor SA Blog

20140610 Ludwick-Marishane-200x240A recent article on the “How we made it in Africa” website states that unemployment remains stubbornly high in South Africa and is one of the greatest socio-economic problems currently facing the country’s youth. Many are turning to entrepreneurship to make ends meet. But some have found it easier than others.

Job creation was a leading goal of government policy during the first decade of democracy in South Africa following the end of apartheid in 1994. However, little success has been achieved in the struggle to create sufficient jobs.

South Africa’s unemployment rate stands at 25.2%, creeping up by 1.1% from last year. There are now more than 5 million people without work. However, the expanded definition of unemployment, which includes people who have stopped looking for work, is at 35.1%.

“I can’t wait”

Twenty-four year old Sibusiso Ngcobr said he could no longer wait for the government to create a job for him. “It is hard to find a job. You cannot sit because your brains would blast out of your mind, you cannot sit and do nothing,” he said. “I can’t wait. I have to eat, I have brothers to support, I have a family to feed.”

He, and other South Africans like him, are finding ways to create their own opportunities.

Photo: Ludwick Marishane, inventor of Dry Bath Gel 

[Read the full story here]

Published in Endeavor SA Blog

Alexis Horowitz-Burdick is the founder and CEO of online cosmetics store Luxola, which has raised US$10 million from investors. But before she was able to get to that stage, she adopted a brute force approach to raising money.

Soon after starting Luxola, she created a list of 500 investor email addresses and contacted all of them. Half wrote back expressing interest in learning more, while the other half either turned her down or gave no reply.

But despite having worked in sales, she still found the process tough going. Raising her first round was one of the most painful experiences of her professional career, and she had to come to terms with it.

“I’ve had a cry before outside a meeting, I was like ‘oh it was going so well, but three weeks later it fell apart and I was like sad’,” she said at Tech In Asia’s Singapore Meetup, titled What to do differently when raising 50K, 500K and 5M.

Horowitz noted that pitches will inevitably get rejected after the first few attempts, so founders will have to learn to deal with failure. “Go work in sales for a year, and it’ll be the most helpful thing you can probably do.”

[Read the ten surviving for getting your startup funded on Ventureburn here] 

Published in Endeavor SA Blog

Bogotá’s tech entrepreneurs have built over 100 companies and created thousands of jobs over the past two decades, according to a recent study by Endeavor Insight. With the support of Endeavor Colombia and the Omidyar Network, the research team interviewed over 200 tech entrepreneurs from more than 230 Bogotá tech companies and found that through inspiring, mentoring, and investing in one another, Bogotá’s tech entrepreneurs have underpinned the sector’s recent success. This study builds on Insight’s work identifying how entrepreneurship ecosystems develop and the central role entrepreneurs play in supporting one another and multiplying their collective impact.

Click here to read coverage of the research in Colombia’s El Espectador and find the full report, including details on all of the key findings and a full visual map of Bogotá’s tech sector

Published in Endeavor SA Blog

With over $611 million committed to for-profit and non-profit companies to foster economic advancement and entrepreneurship by Omidyar Network, Chief Executive Officer of the organisation and Endeavor board member, Malik Fal Omidyar, spoke to Crusoe Osagie at a forum in Lagos, and explained how entrepreneurship can be deployed to transform Africa.
[Read the full interview here]

Published in 2013