Entrepreneurship Funding Masterclass | Hockey Stick Effect & Principle of First Knowledge

Free Entrepreneurship Funding Masterclass held on the 16th of June 2018 by CEO of MyGrowthFund, Vusi Thembekwayo.

[@vuyanisphamandlamachi949]

"I intent to prove you wrong"..... Thumbs up to this man.

[@lehlohonolorichardshuping9605]

The queen 19

[@dorothyotieno6214]

I actually liked his idea

[@nelsonmachete4969]

2 points 1. Vusi is well informed 2. These entrepreneurs do not research on the markets they aspire to penetrate and do not know the threats to their business ideas.

[@NeysonShuroJrIV]

nelson machete correct Nelson , wrestling to get into certain mkts is hardwork & its assumption mostly , if data was made available to startups R&D would be easier saves you ,I learnt this the hard way

[@yonelasadana402]

Agree!

[@Kabika83]

Quite interesting. But I must add that if all businesses relied on the principle of first knowledge the world would not advance as quickly as it does. Sometimes people don’t know there is a problem to solve until they have an alternative. Before a car was invented people didn’t know they needed one. Once it was invented, soon people couldn’t live without one. People don’t know buy suits based on fabric (this is true). But if there was a suit that had a selling point of wash and wear without crease, people would soon realise they needed it all along because of how much they save on dry cleaning. What am saying is that the easiest business to start is one that address a present problem. A revolutionary business is one that addresses a future problem or one people don’t know that have.

[@ranzidatendani3630]

You really are wise, and that wisdom will take you places

[@bizzynateete]

I agree 💯

[@maxmuthomi4790]

The only thing that changed about a car was the name and what propelled it. There were horse carriage before hence people could relate in that: "Am selling a horse carriage the uses an engine not a horse".

[@miyamikobanda9281]

the problem isnt the time to go to dry cleaning its the additional cost

[@divineartandfinacialloteracy]

I love Vusi, Arrogantly Humble.

[@Marketer_tolu01]

Swears

[@residentalien310]

People now look scared lol. Great platform, great feedback from Vusi. How he responds is exactly how the world responds to new businesses.

[@enioluwaodunjo]

Word.

[@venturee1960]

The guy with a fabric idea for a suit has a brilliant idea and the problem exists. Not everyone can afford dry clean regularly and I personally can purchase a suit of that fabric. Not everytime when starting a business you have to solve a problem sometimes you just gotta compete and make money

[@titisimojalefaalphonse5140]

Yes his idea is good - but the problem he is trying to solve is the reason why Vusi had to bring him down .... if he had taken the route of reducing costs of dry cleaning and others it would have been much better - instead of time .

[@nyakarundi]

it is true that entrepreneurship is about knowing what problem you solve UNLESS you in the luxury brand, then the approach is different.

[@zitlerthebandit9596]

Vusi is a real business guru

[@dareafolabi]

To those who say Vusi was brutal, the market is not any kinder.

[@mohlomphehi]

Damn this guys is as good as advertised!Pure Gold👌

[@alexormulea]

I am glad he knocked down my ideas or potential ideas with reality... Now I have good tips on how to judge my ideas before I put myself out there... Especially, "Make sure the market has a gap and guarantee that the gap also has a market" and "Tell the investor only what he needs to hear to get interested, then once he wants to know the further detail you can then tell him indepth" and "Never use words like 'a few', 'many', almost, 'about', a number', 'maybe' or basically any term that shows that you haven't researched the statistics of your anticipated estimates, but research and be able to say, 'at least one of five' or 'twenty percent' if you want someone to dare invest in your idea" "Always ask your self 'What problem am I solving' when you try to build up your idea'

[@malkiapillowgallery3363]

Sure

[@venturee1960]

Never let anyone tell you your idea won't work, keep persuing.

[@BrandHubz]

Hallelujah tebza

[@weezySKLH]

Damn I like this man, I wanna listen to him all the time, eish I want him to be my mentor.

[@godwinuche4507]

You're not alone

[@oscarmsibi9494]

Just a rough idea for the guy who was thinking about starting/developing a personal trainer app, well Vusi mentioned one of the cons about the app would be that some personal trainers might give clients their private numbers and as a result the platform might lose money....well that's true, but i was thinking of an idea that would keep those clients coming back like, if you book sessions with the same trainer,you'll get (for example) one free session every after nine sessions!

[@hlengiwezondo1602]

That lady in the beginning is so cute!

[@Okeh_Emmanuel]

Your discussion with the guy who was running a construction marketplace helped me refine my business.

[@monicakola6161]

Straight to the point "what problem are you solving"? I find myself always trying to give a reason why instead of answering 'What' which I see is happening in this session. Let me work on my 'what' and get ready to talk business when I meet you, great work you are doing indeed I'm truly inspired.

[@zamokuhlenjabulozwane976]

its not about the WHAT but the WHY. i would recommend Simon Sinek start with WHY

[@bantubonkemaarman9233]

We need one of these in Cape Town, please come down.

[@siyasuccess]

This is great, we need more of such entreprenerial converastions based in SA

[@1murkeybadmayn]

saw two of this guy's talk a couple years back, nice to get some more knowledge from him...

[@sipholushozi2722]

You are doing the best and I started selling some staff and they bought my staff the same day, but it's the products I make. I am looking to what you doing but not more about what you do, the confident you have that's whats drive my dream up. Next year I will make it for sure

[@PhathekaPkay]

PnP is currently working on an account concept!!

[@pheaganemokoena5657]

VT i wish you could upload more of what went about during that session,great content as always,straight to the point and very insightful!

[@billcapital899]

Main take aways... "what problem are you solving"? & "Offline drives Online"

[@bigdata9605]

black excellence right there... we need more of these

[@maxk5831]

stop the black black thing

[@leonmalomane2270]

The guy (trainer) just very clear and simple

[@simonkahungu361]

I think and suggest he does not only consider short-term profit/benefit he targets LONGTERM PROJECT BENEFITING that is why he is asking WHAT PROBLEM ARE U SOLVING

[@onkekoko3759]

And it's only 26:16. This is great content, may you please make more of these. It has helped me scrutinize and improve an idea I have.

[@zaneleradebe8954]

Me too

[@theblacks1067]

Mmm........gap in the market and market in the gap.......quite an insight.......That's my guy Vuci

[@siphenkosifiltane4200]

Thank you Vusi, you showed flaws on my idea, I needed this.

[@dozerdrives]

..everybody's trying to be a middle-man via apps or some-such.. no-one's trying to get their feet and hands dirty in this "class".. construction (want to build an app for contractors to meet clients), gym stuff (health-seeker to find a trainer), bank details verifier (to link banks to run-away clients).. ..no-one's got a product to sell here...

[@BahariNyeusi]

Dozer Drives I totally agree.

[@Okeh_Emmanuel]

The truth is that people are already solving most of the problems, but helping them solve those problems at scale improves their efficiency at solving this problems better. Lack of clients or customers is a very big problem, and lack of information for realiable problem solvers is a big big problem too

[@morekolodiwagar1792]

Now i understand why some countries have been called developing since i was born...

[@tatianamassangu3221]

I need a brainstorming like you for helping me to let my business grow

[@tttrtmtsh6019]

Hello,im a newly subscribed SOuth African Individual, you keep me driven and having a hardcore ground

[@siyazola8531]

I'm not sure I'd want to give my business ideas to the public like this though.

[@boipeloramotse6240]

Lol i agree with you so much

[@thatomakofane4562]

Yeah but then again you might get be setting yourself up for failure by blindly ignoring other factors. Plus you don't have as much knowledge as the next person. There's always room to learn more. You never learn anything in life if you think you're always right.😉👊

[@siyazola8531]

bantu thato I fully agree with your statement but you missed my point. I should think the reason these people went to the workshop was to learn and get more knowledge from others. My statement speaks to making people's business ideas public on KZbin for everyone to hear. Those people don't want opinions from KZbin followers if they did they would have made public announcements on social media and asked for opinions from the public. One of the dangers of publicizing someone's business idea like that is that it can easily be stolen perhaps by someone who has better resources, better capital and so forth.

[@mosesa]

I think he knows from experience and stats that 90 - 100% of new/amateur entrepreneurs THINK they have an idea and run with it. So they are always going to say rubbish but think it's an idea. An entrepreneur with a foolproof/solid idea can confidently say it because in order to steal it you will have (to have insight) to go and do some research the gap and market. You don't have an idea until you have done the homework; the need, customer and market research.

[@meekgwebu7657]

@@siyazola8531 true man dts wat these coperations do they hunt for ideas anyway n before yu kno it yu see it on tv...

[@sifisokubuli8942]

If I’m selling clothes for instance. I’m not solving a problem per ser I’m proving a basic necessity. It’s not a “pain or problem” it’s a necessity. Spot the difference

[@AG-jd8rb]

yes, you doing business, not entrepreneurship.

[@sifisokubuli8942]

Andile Grace Dlamini Whats the difference?

[@AG-jd8rb]

i will loosely say, entrepreneurship is taking the risk to invent, design and introduce a new idea in business, whilst business is doing whats already existing or slightly improved but not changed, another mans idea....

[@mmathabomoeketsi3422]

Well said Sifiso Kubuli

[@Travelteez]

Great advice. Nothing beats being your own boss...

[@lebohangandries2459]

VT YOU AN INSPIRATION, MY GUY.

[@mindgoal9251]

I suggest this good book: The Millionaire Fastlane by MJ DeMarco... every entrepreneur should read it - more than once!

[@kholofelolebepe9637]

Yep

[@duplexetchoffo6015]

Great information and session Mr Vusi

[@veedunge8133]

Vusi is just amazing

[@clarencemapulanga]

I love the honesty by vusi

[@onelezembe5365]

Jaar this guy knows his story nd other than that he iss a good listner

[@inani6001]

Wow, I can't believe I was captivated by this. I am laughing at myself... Anywhoo, Vusi what problem are you solving by doing these MasterClasses?

[@daughtaofthesoil3510]

He is great! Need to find him asap to engage with.

[@mpilokhumalo3202]

Very interesting, thank you for this. People doing camera for you FOCUS.

[@frizadube3775]

Personally,I would have passed this masterclass, probably the only one.After vusi of course.

[@kefalotsemotlhoki204]

Very informative, inspired!

[@mzshatu]

I like how he says one knows they are wrong by saying many and or most people but the says most people don't read their fibric. Great points though !

[@mohludi8050]

Powerful presentation. Thanks so much for the vedio

[@TheZieleion]

Watching this riveting!!

[@ThabangMkhwanazi]

Hmmm, Great content and priceless information. I think learning from practicing entrepreneurs is way more valuable than information you'll find in any school. Books teach "concepts and theories", Entrepreneurs teach "practicality and expertise".

[@zaneleradebe8954]

I agree but the books also help

[@ThabangMkhwanazi]

That I cannot argue with, I am a life long learner too. I believe that learning never stops. Once you stop learning, you stop growing.

[@ocubex]

Always love Vusi's take on things. Why was the video flipped? It makes it difficult to follow what he is writing on the board...

[@why_so_fly_tho]

vusi you are a legend

[@eeforest7122]

Tinotenda Mashavave your right

[@mafeeofentse2633]

great concept...would really like to be part of such

[@batsiraimcdonaldzulu3395]

Thank you so much Vuso Thembekwayo. You are rely doing a great job in helping us young Zimbabwean entrepreneurs . Is there a platform where i can send my business idea and also get helped with ideas.

[@chillyman7340]

Danm this guy shuts people down😂😂😂

[@pinkynngwenya6448]

Hi Vusi thank you so much for informing please assist i want to know when will you visit cape town for this kind of workshop, i tried to open business but did not make it yet, please assist us by educating us this site.

[@theledidynasty]

Wow I like this.

[@tlokz850]

Powerful message

[@tshepisosejamoholo9708]

11:52. Pick n Pay is launching a credit facility that can be accessed through your existing Smart Shopper card, which gives you up to 55 days to pay back the money you borrow before the interest (21%) kicks in. The facility is currently in a pilot phase and can only be used in Pick n Pay stores, including the clothing stores, nationwide

[@lehlogonolopapo3119]

That is true

[@janisatcompany5714]

Hi Vusi, always enjoy your talks. What are the channels one should explore to take part in these sessions.

[@MadeBrilliantStudios]

Hmmm! I so need to be in one of those...

[@mphotsibolane4950]

OMG! Why didn't i know about this class 😭😭😭😭

[@missglamourous2485]

He is right..why solve a problem which does not exist

[@chillyman7340]

I would love to meet him in person and learn more from him.

[@strauuz]

Retailers like pick n pay,game and Makro now offers credit facility for consumables

[@AmuMabasa]

I gotta love the feedback he gives you as to why he disagrees with people's Ideas...Get the paperwork and the stats of your research correct...Some people just give out a No and an insult but they never really explain as to why they disagree...Is it perhaps too much admin or you just wanna insult and put someone down without there being a sense of logic to it? Conversate!!!

[@monyatsiishmaelmofokeng]

Bro Vusi I did hear advice about property crowdfunding please share

[@davidmathenjwa2293]

if vusi can be the president of our country (sa), there wont be poverty and crime. like if you agree

[@rogernkosi8420]

Nonsense... Crime?

[@giftsiphesihlenkosi9806]

we would like such lectures at the university of mpumalanga

[@SostiSonic]

Hi VT for the next event let me solve your sound quality problem :) I have a business in sound hire for such events.

[@matshweneemoshiaiii5084]

I disagree with Vusi on the guy who talked about ironing and producing a certain clothing material. The guy has a great idea. Go for it guy...it will work.

[@oathmthupha9471]

Damn it this guy is smart

[@lesdorco8398]

Majority think within the same level of understanding... copy and paste then editing

[@rosemaryrosinahmorero426]

I wish u cn visit limpopo sir

[@maddemadetv445]

Please be respectful of people's ideas, thanks

[@siphiwemtshweni9783]

He might be a successful entrepreneur/business man/business advisor but he can't tell you what will work and what can't work coz he can't be an expert in every field

[@webmatorwebanimation355]

Take out the wisdom that works for you. Simple

[@lebogangkekana7530]

Good stuff

[@britemphuthi2980]

Important question one need to ask themselves. 1. What is the problem you are solving. 2. Do you have a market excess. 3. What are the Laws that may work against your business idea or what you want to venture into? 4. Can your business use the "offline drives online" method. 5. It's your business strong enough and needed enough in the market that no other intermediater can disrupt it simple by doing what you are doing? 6. Always try to come up with ideas that make complex problems simple e.g. like the Huawei example he did. 7. Read more about the market that you want to tap into than just assuming that your idea will work.( Read that is the important word)

[@videoviewer502]

12:16 ...that idea can work be a disruptor. You lose nothing by trying...you gain experience. Already you have seen the gap in the market and there is a market in the gap. ..because you are in the industry already.

[@chevytahoe9913]

Uber really changed the game, 85% of app business ideas are being modeled after their business model

[@periperi2151]

reality check

[@justinlethwane4936]

When is the next Masterclass and where i'd love to attend one

[@Itu2646]

Nice platform for us to steal ideas

[@TimothyJohnSabad]

This was probably way before Woolworths strated their food market

[@tshimanelebodu162]

what this guy is doing is right, why do people have only ideas and not executing?

[@adedoyin3336]

camera man never use Lens with thick debt of field tutorial pls get wide angle lens .

[@sifisomaphuma2346]

Easy to ask?? Difficult to answer it!! ("What problem(s) are you solving")?? 😰😰😢😢 ("Who told you; that it was a problem")

[@Letsgetyouahouse-room]

The guy with the banking details verification. I believe if he carried on and finessed his idea, he now, in 2023 is able to do KYC and credit checks for Banks. Banks want to outsource as much tech as they can.

[@victorletsheleha8582]

I would like the opportunity to attend you seminars or your meetings. I already registered the business with my partners and so far a little guidance will take us a long way.

[@loloadams9146]

How does one become a part of these talks?

[@canaanbanda1075]

Why is it that the majority are going into IT businesses? Just wondering... The basic businesses tick!

[@UnathiGX]

WOW

[@nhlakaniphomdlalose5208]

Banking Details...

[@Neo_Lleo]

i feel like he just popped this fabric guy's bubble lol

[@MichaelEMJAYJohnson]

all the way through. But its good, he now has an understanding of what to do and not to do.

[@LeonardNgobeni]

How do I attend these Masterclasses?

[@mthokombambo8403]

Mr Vusi I would like to know how do I get to join your class??

[@malizoletoli6291]

Good video but the sound quality is very poor