The Department of Science and Innovation (DSI) has announced that it will help fund the development of an affordable, alternative internet solution for low-income…
“I’ve always bootstrapped the launch and growth of my companies,” says Manzini (pictured above), who will be speaking tonight at this year’s first Startup Grind Cape Town event at Workshop 17 at the V&A Waterfront.
He believes the right way to go about bootstrapping is to understand your market. “With the correct product, positioning and timing you are bound to make money to fund your own expansion until you get to a point where you are fundable,” he says.
He also advises those who can, to also tap family and friends for funding. However, he acknowledges that this is not an option that is available to all.
‘I’ve always boot strapped the launch and growth of my companies’ says Vincent Manzini
“But the reality is that most black entrepreneurs don’t have that kind of support. Many of us are the first generation to ever do it in our families,” says the award-winning entrepreneur.
The serial entrepreneur has started a number of companies and says he’s failed a couple of times but has always learnt something from each of the failures.
“In 2010, we created one of the most talked about online magazines called Ikapa Live. We had an awesome team of contributors, we invested so much of our own money into this dream of ours, but it tanked because we couldn’t monetise it.
“Funny thing is that I believe that we were way ahead of our time. However, that failed online magazine, became the biggest township market in the country known as Ikasi Experience,” he says
Some of the businesses he’s founded include entertainment and events company Grand Mind Entertainment and Jump Start Music Academy, which at its peak was generating a revenue of over R1-million.
So, if you find yourself sitting on a great idea, one you believe will disrupt your industry and maybe even the world, then do your research and know your market and consumers, he says.
“Start where you at, with what you have. You will find help along the way. Yesterday was the perfect day to start but today is good enough!” says Manzini.
Featured image: Sir Vincent via Twitter