Monday, March 18, 2013

My letter published in the cape times

I agree with the ratepayers analysis of the report by external consultants about the Cape Town stadium lacking any vision or credibility. ( 11th March 2013). Creating a commercial district around the stadium as well as in the stadium is not what the stadium was built for. It was built for sport and other special events. The majority of Capetonians don't feel like they "own" the stadium or what happens to it. If it did get torn down i am not sure if anyone would care or if there would be a huge outcry. It would save taxpayers R45 million and we still have Newlands, both cricket and Rugby and Athlone for soccer. So what would be an innovative model. I write in my personal capacity because the City officials are not interested in meeting with me to discuss this option. I would set up a financial cooperative. Here citizens of Cape Town can purchase shares in the Stadium Financial Cooperative. I believe that R100 million per year can be raised selling shares. The beauty of a financial Cooperative is that no matter how many shares you buy you only have one vote. Once the money is raised the Stadium Coop can purchase the stadium on behalf of the denizens of Cape Town. The city can own a minority share if it chooses. Once the people own the stadium ( and this was not considered in the consultants report) the stadium will always be packed and shareholders will make sure it is in order to get a dividend or return on their investment. However the real benefit will be that the people from Cape Town will take ownership and make it a success.

Wednesday, March 13, 2013

Some advice for entrepreneurs at the first phase of their journey

So i write alot about ideas and innovation in entrepreneurship and clearly that is my passion. And i meet so many people who have great business concepts. Some only have an idea. Some have more than an idea and developed prototypes. Some have gone beyond prototypes and actually sold something. This is still all part of the first phase of the life of an entrepreneur. For the early start entrepreneurs here is my sagely advice:

1. Nothing is going to come easily to you. You have to fight like a rottweiler to make it happen.

2. Not everyone will support you. This is not personal.

3. Your idea may just not be viable. If you haven't sold it in any form in 2 years chuck it in the bin please.

4. You should be working on more than 1 idea / concept at a time

5. But you also need to focus on the one's you are working on ( sounds like a paradox)

6. You may think about your business all the time but no one else does

7. When one door closes a bigger door will open

8. If people dont support you thank them kindly and respectfully as you may need them another day. Some people get angry and cantankerous and thus sever the relationships they should be keeping for the long haul.

9. You need to put your own cash in!

10. Your idea is not your baby, its just your idea or business. Real Babies are much more precious!