By Strive Masiyiwa
Be an Entrepreneur 2
Understanding business models (Part 1)
"When did you first see the opportunity?"
When I first started Econet Wireless, I travelled to South Africa to meet the senior leadership of one of the leading mobile network companies. I was looking for investment into our business. I did the customary pitch and offered them 40% of my business. For some of you who have seen Shark Tank on Kwese Inc, it was a similar experience!
Their CEO balked at my price. "No way!" he said. "That is just too expensive!"
For several weeks we haggled over the price but we could not bridge the gap, and we decided to go our separate ways.
More than 10 years later, I ran into the chairman of that company at a reception, and he pulled me aside and said, "I really regret that we did not do that deal with you. Now I realize that your business was worth a lot more than you were asking for."
He nevertheless congratulated me and we kept close and friendly contact until he died. He was a wise old man.
This has happened to me many times. Sometimes I'm the one who walked away from a potential investment and sometimes I'm the one who missed out on a potentially great deal.
It's all business!
In that particular case, there was a reason we could not agree: I believed that the potential for growth in mobile phones was multiples higher than what they were projecting.
Even though we were both in the same industry and could be considered experts in our field, we had a dramatically different view on the impact of a new technology: "Pre-paid payment" system!
(At that time you could only get a contract. The pre-paid technology was invented in Israel, and it totally transformed the industry, allowing billions of people to get access.)
I believed it would change everything. They thought my assessment was exaggerated.
There are so many new technologies coming through these days. Do you know what great technology is going to dramatically impact your business or the company you work for?
Years ago I used to keep a quote from William Goldsmith (one of the first British billionaires) which said:
"If you see a bandwagon, it is already too late." What do you think that means?
Let's talk.
End.
Replica a
With over replica givenchy t shirt 10 years of experience and Replica Dior Shoes knowledge, we Replica Pouch provide total cutting tool solutions. Ulysse Nardin Replica Watches Complying to international standards, we Replica Nike Kids Shoes design and Replica Prada Sweater develop the best Replica Boots quality and cost-effective Replica Gucci Belt cermet inserts Replica Hermes AAA Belts solutions for our customers. Estool cermet inserts are produced based on Replica Wallet extensive knowledge and competencies.
Dec. 19, 2023, 11:30 a.m. Reply
Video editing is a crucial skill in today's digital age. Whether you're a professional filmmaker, a content creator, or just someone looking to share memories with friends and family, having a solid understanding of video…
Getting admission in a reputed educational institution is unquestionably quite a challenging tas…
Getting admission in a reputed educational institution is unquestionably quite a challenging task for the students, but there’s another serious challenge waiting for them once they complete their higher studies, which is th…
A skills gap is the difference between skills that employers want or need, and skills their workforce offer. As the Business is evolving and employers need their workforce to keep pace. But when employees and candidates don&rsquo…
National Skill India Mission, a subsidiary of Bharath Sevak Samaj, established in 1952 by Indian Parliament is a National Development Agency promoted by the Planning Commission, Govt. of India to ensure public Co-operation for im…
The importance of mobile phones in our everyday life and activities is undeniably unending. This is so because there is ongoing tremendous transformation in that mobile phones are no longer the ordinary communication device it us…
Grab the exciting business opportunity with a leading institution in skill empowerment and education…Hurry up!!!
Tie up with Bharath Sevak Samaj (BSS), offering short-term Course enabling students to attain and adopt wo…
National Skill India Mission, a subsidiary of Bharath Sevak Samaj, established in 1952 by Indian Parliament is a National Development Agency promoted by the Planning Commission, Govt. of India to ensure public Co-operation for im…
We introduce ourselves as National Skill India Mission (Nsim), a branch of Bharat Sevak Samaj, National Development Agency promoted by planning commission, Govt. Of India to ensure public co-operation for implementing gover…
Grab the exciting business opportunity with a leading institution in skill empowerment and education…Hurry up!!!
Tie up with Bharath Sevak Samaj (BSS), offering short-term Course enabling students to attain and adopt wo…
