Entrepreneur: avoid these start-up mistakes

By Drum Digital
25 March 2011

When 24-year-old charismatic radio personality Faith Mangope started a recruitment and PR company, NFM Recruiters, two years ago she was bursting with excitement about her new venture.

Registering the business was a breeze and she believed she had everything prepared. She identified, researched and studied her target market well and had a clear idea of the identity, character and nature of her business. But when it came to clinching deals, Faith fell short.

"I couldn't understand why I received so many rejection e-mails or why people weren't prepared to invest in me. I'm in the media industry, I thought. They should be able to trust me."

She set up meeting upon meeting with prospective clients over coffee and lunches, which she had to pay for.

"I later discovered that I had often met with the wrong person, sometimes several times! It was really difficult to come to terms with that and the fact that all the coffees and meals I paid for, not to mention the petrol costs and the time I spent going to these meeting were all a waste.

Read the article in the Drum of 31 March 2011 – and share your views below.

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