Craig Massey, CEO of Sanlam Private Investments addressed the South African Chamber of Commerce Breakfast Indaba on Thursday 10 July and gave some tips on how to prepare your business for investment.
One of the key themes addressed was developing the mindset of “intrapreneurship”, i.e. entrepreneurship within an existing business.
Craig encouraged our members to assist their teams with developing a “Hunter’s mindset” which would ensure they pursued opportunities instead of waiting for things to happen.
His top tips on developing a business to successfully attract investment were:
1. To establish a credible management team – one where key executives won’t leave when selling or raising equity
2. Having the ability to grow revenue and sales
3. Using technology to leverage growth
4. Being a strong cash generating business
5. Reaching a reasonable valuation
6. Delivering on forecasted results
7. Having an independent board of advisors to both mentor and ensure accountability
8. Having professional advisors to assist with the growth of the business
9. Not becoming a commodity, i.e. build a strong brand that has a strong message and values.
Click here to register for our next Indaba with Odile Ham on Thursday 14 August.