Identify And Pitching Business Ideas

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3 Valid Ways to Identify Business Opportunities and Where to Pitch those Ideas
I discuss 3 Valid Ways to Identify Business Opportunities and Where to Pitch those Ideas. With the current economic situation, you might wonder what business opportunities are left. Vast opportunities are available in what have been identified as growth sectors, how then does one explore these opportunities and where do they pitch their business ideas?

 

 Whose Today’s Guest?

Trevor Hambayi, has extensive global experience spanning over 20 years, both within the private sector and quasi government organizations, which includes stints with the UN in a conflict zone, investment analysis with a US based financial institution and consultancies with aid organizations and industry specific associations in Zambia.

Opportunities available for Zambians

The first aspect about seen the opportunities is that obviously you must be an entrepreneur. One way that one can identify these opportunities is by seeing the challenges within your community and finding solutions to those challenges and will be a great way of generating revenue.

On a national scale though, the opportunities can be seen from the influx number of investors and organizations that are coming in to the country, there a lot of opportunities in the mining sector, tourism and in the agriculture too.

The opportunities have always been there, there has just been the question to what extent these opportunities can actually be developed.

Organizations Established to Help Understand these Opportunities

One can approach the Zambia Development Agency (ZDA) to take a look at the listings there for opportunities available in the country. Other than this one can approach the smaller networking organizations and be associated with them to be able to find these opportunities.

Where to Pitch Your Business Ideas

There no specific platforms in the country that one can actually single out to pitch business ideas but there are some organizations that are in the space of giving equity and debt finance. One can also list their business ideas on ZDA so that when a potential investor comes in they will have the chance to view your business idea.

Generally, once or twice in a year, there also investment forums held in the country and these can be used as a great platform to pitch business ideas. One can also turn to financial institutions like banks to pitch there business ideas.

Concept of Angel Investors

The primary source of early stage financing in most countries is Angel investing. These are very important source of financing especially for small and medium enterprises. They normally have two considerations when it comes to financing and these are:

  • Social Impact
  • Return on Investment

The aspect of having angel investors is also dependent on how developed the market is. Zambia’s financial market is not fully developed and most high net worth individuals in the country have no options but to invest in treasury bills.

If the market was fully developed, the return from the treasury bills would be insignificant that angel investors would be forced to look at alternative areas to put their money in terms of investments. This will drive them to look at the potential of private sector and SMEs in particular.

Angel investors don’t just provide financing but bring with them mentorship and this is also something that we lack as a country. Business owners need to find angel investors that can mentor them, find someone with a long stand record in a particular industry that you are based in and seek for them to mentor you and share the knowledge that you need to succeed.

Financing for SMEs

There a number of factors that need to come into play in order for this to be achieved. Organizations working toward financing SMEs need to come together and create an SME development fund that supports this initiative but is structured in such a way that it mitigates the risks involved.

For a very long time we have looked outside for funding and support but this has not fully worked for our country, it is time we looked to local solutions.

By being mentored business owners will be pointed in the right direction, and will be shown how to be investment ready. Most businesses in Zambia lack this.

Key Insights:

  • Angel investors are not just financers but investors too.
  • SMEs need to learn to be investment ready.
  • There a lot of opportunities to be explored in Zambia.

“As you look for angel investors, Don’t just approach them for funds, your angel investors can be your mentors.”

Insight Partners Africa— aims to bring you actionable insights from leading respected experts. However, before making any business decision, you should consult a professional who can advise you based on your individual situation.

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