I began by drawing up a list of all the
banks in the country, and all the financial institutions that provided any kind
of financing for small businesses. I began to research every single one;
I wanted to know everything about them:
* How much money did they have?
I wanted to know everything about them:
* How much money did they have?
* How do they make, money as a business?
* Who managed them?
* What was their lending practice?
* Which one is considered accessible, and
why?
It was a research project that I developed
at a time when there was no Internet, and very little public information. I was
painstaking and thorough, and it took me months. I did not rely on hearsay
because I was always professional about what I do and always check out facts.
I completely changed my circle
of friends; hanging out with other young business people, and always asking
about how they raised money. If I heard there was a business meeting, I always
tried to get in, and I was always taking notes. I spent hours every night at
the local university library. I had become a student again! Oh how I wish there
had been the internet in those days!
I bought books and read articles
on financing of small businesses. I soon had a whole bookshelf on the subject.
I bought books on how to prepare business plans, and how to make presentations.
I had to wait for months for some of these books to arrive. This is how i
approach most things: I do my research.
I had determined in my heart that if only $1 was going to be made available
from the banking system, it would have to be mine! There would be no “hit and
miss”.
... In the next post, I will tell you, my next step: how I got the first
loan.
–Strive Masiyiwa
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