How Badly Do You Need VC?
Sometimes the whole anticipation you build around VC may not be worth it...
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Welcome to another edition of Workshift! The exclusive newsletter for African Leaders, Founders and Managers.
If you missed last week's issue, catch up here
In Today's Email:
Venture Capital Is Not the Only Way
Fortune Disclosed The Best Investment Opportunities In AI For Healthcare
AI Tool Of The Week 🤖: With Well Principled, you're not just getting another software tool. You're gaining access to a powerful platform that seamlessly integrates academic business research with AI technology to fully understand the behaviour of your customers
Opportunity Of The Week 💡: Apply for an intensive three-month program by Techstars accelerator designed to empower you to achieve product-market fit, gain traction, secure vital capital and mentorship while gaining exclusive access to a world-class network
THE BIG IDEA
Venture Capital Is Not the Only Way
Securing money for startups is tough, especially VC funding, which only a few get. But Deepa Gandhi, Cate Luzio, and Paige Mycoskie found clever ways to fund their businesses and shared tips for others like them.
Here are the tips provided by Deepa Gandhi, Cate Luzio, and Paige Mycoskie for funding startups:
Seek Patient Investors:
When starting Dagney Dover, Deepa Gandhi didn't have access to VC money. Instead, she relied on support from friends, family, and angel investors who believed in her vision. She emphasizes the importance of finding investors who are patient and willing to support the company's growth over time, even if it means slower progress. This patient capital allowed Dagney Dover to grow steadily without the pressure of immediate returns.
Embrace Bootstrapping Mentality:
Paige Mycoskie, the founder of Aviation Nation, stresses the significance of maintaining a bootstrapping mentality, even as the business grows. Despite having multiple storefronts and nearly two decades of experience, Mycoskie remains frugal and resourceful with spending. By prioritizing careful financial management, she ensures that the business stays lean and agile, enabling it to adapt quickly to challenges such as the pandemic.
Consider Self-Funding:
Cate Luzio funded Luminary, a professional networking platform, using her own savings instead of seeking external funding. This allowed her to stay flexible when things got tough. For example, when the pandemic hit, she could quickly move her business online because she didn't have to worry about meeting demands from outside investors.
According to the successful founders: starting a business doesn't follow a fixed formula. You might need to explore different paths, like finding investors who trust your idea, being wise with money, or using your own savings. What's important is finding the right approach that fits your business and helps it grow.
Challenge Of The Week 🎯
You know, there's something really fascinating about the way our brains respond to electronic devices, especially right before we hit the bed. But, they can really mess with your sleep and stress levels.
Test yourself to see if you can go a whole week without touching your phone or any other electronic device for that last hour before bed. Trust me, it might be tough at first, but the payoff is totally worth it. You'll sleep better, feel less stressed, and wake up with a clearer mind. So go on, give it a shot—It’s a dare!
Strengthen Your Company 🏆
Are you yearning for outstanding African talents to join your company, so you can reduce employee turnover and have a stronger, more stable team?
Learn From The Best ✍️
Raymond Albert Kroc was born on the 5th of October, 1902. At 13 he opened his first business, a lemonade stand. He forged his ID to go to war when he was just 15. This seems to have been the thing to do at that time, as Walt Disney did the same. In fact, that’s how the two met.
Shortly after completing his training, the war ended. A decade later, he started selling milkshake multimixers, which is how he found a restaurant called McDonald’s.
The rest, as we all know, is history.
Don’t forget to save the image so you can always glance through it!
Credit: Ambition Chronicles
Africa Governance and Development Outlook for 2024🌍
As we gear up for what we hope will be an exceptional year for Africa in 2024, it's crucial for you as a leader in government or business, to tackle the myriad of challenges head-on. This paper dives deep into the current growth and development landscape across the continent, giving you a clear picture of where we stand.
In addition, it also looks ahead at the trends that will shape Africa's governance and development trajectory in the coming year. By reflecting on this information, you can better prepare yourself to navigate the complexities that lie ahead.
Your Target Audience Are Our Friends 🎯
Excited about the opportunity to spotlight your brand? We have a robust network of over 10,000 founders and a talent pool of 30,000+ professionals spanning HR, sales, creative, tech, and team leadership roles across Africa.
By partnering with us, you'll gain more visibility and access to a diverse audience eager to engage with innovative brands like yours.
Meme Of The Week 😂
Credit: Engagebay
Where You Should Be 🌍
Ever heard of Hampton? It's not just a place; it's a vibrant community specially designed for people like you.
It includes tons of events where you can rub elbows with global leaders like the founder of Hustle and dive into some seriously unique experiences. Hampton is teaming up with DraftKings to host an epic evening at Zero Bond. Get ready for a superb night in one of the city's most exclusive members-only spots.
So, if you're a business boss and you're free and in New York City on the 29th of March, you should be there!
Economic Trends For You 📈
Nigeria's economic forecast has taken a promising turn as Brent crude oil prices surged to $86 per barrel
For the first time in almost a decade, the number of venture capital deals in Africa decreased by 31% YoY
Alake is emphasizing to mining investors the necessity of having a value-addition plan in place as a prerequisite for obtaining a mining license
What Do You Think? 🤔
Want to say something? Feel free
Strengthen Your Company 🏆
“CareerBuddy gets it. Hiring isn’t a walk in the park but they make the recruitment process a lot less daunting. From how quickly they are able to source for candidates to ensuring the sourced candidates are of high quality and are a great fit for our company, they're great at what they do'' - Cadana
Investing News & Opportunities 💰
Michael Dell has been consistently offloading shares almost daily, amounting to the sale of over 4 million shares valued at about $465 million
On Tuesday, March 19, Nigeria's equities market experienced a decline of 0.11%, equivalent to N62 billion
GOOG stock is the cheapest among 'Magnificent 7', but is it worth buying?
Fortune disclosed the best investment opportunities in AI for healthcare
Workplace Culture 👥
Do you agree with this hiring strategy?
There’s More To Being A Leader🎖️
4 vital lessons this tech entrepreneur had to learn while building a $4 billion company
3 strategies smart leaders use to make decisions in a world full of noise
AI tool of the week 🤖: With Well Principled, you're not just getting another software tool. You're gaining access to a powerful platform that seamlessly integrates academic business research with AI technology to fully understand the behaviour of your customers
Opportunity Of The Week 💡: Apply for an intensive three-month program by Techstars accelerator designed to empower you to achieve product-market fit, gain traction, secure vital capital and mentorship and gain access to a world-class network
What’s Happening? 🤷♂️
While you were away at work, these 5 things happened:
Cardoso fired five top directors at CBN
Kenya now holds the top spot in digital advancement within Eastern Africa
Niger's ruling military is angered by the US accusations of 'secret deals' with Iran and partnering with Russia
Zenith Bank introduced Adaora Umeoji as its new GMD/CEO
The House of Rep has urged companies to inscribe 'Made-In-Nigeria' on all goods manufactured in Nigeria
Share With Your Friend 📣
If you know this newsletter can help someone in your network, why don't you go ahead and share?🚀
ABOUT CAREERBUDDY
Hire Smarter, Not Harder
At CareerBuddy, we make hiring seamless for fast-growing companies, we pride ourselves on knowing the best people that will excel in a Startup. With a candidate retention rate of 90.3%, it is safe to say “We are the best in the game for Startup hiring in Africa”.
We have worked with our partners to hire both for Technical and Non-Technical roles, we have also helped them with expansion in Africa. Some of our clients include Bamboo Invest, Helium Health, Cassbana, Cadana, Fincra, CrowdForce, Casava, TeamApt (now Moniepoint), Sabi, etc.
Are you hiring at the moment? Contact us