We spoke with Buca Matenge, an entrepreneurship mentor and advisor, about the challenges and rewards of leaving the corporate world and venturing into business.
He speaks passionately about the need to embrace failure, and being sure about your willingness to take risks. Buca also highlights the enormous potential entrepreneurship has in Botswana – particularly because of the talent base and the “less complex” living conditions that are not as pressurized as many other parts of the world.
You can listen to highlights from our discussion with Buca on the YouTube link below
Succeeding as an entrepreneur can be both exciting and challenging. Here are some key tips to help you along the way:
Know Your Why: Understand why you’re starting your business. Having a clear purpose keeps you motivated during tough times.
Start Small, Scale Smart: Test your ideas with a small market first, gather feedback, and refine. Don’t try to do everything at once. Growth should be measured and sustainable.
Build a Strong Network: Surround yourself with supportive people—other entrepreneurs, mentors, or industry professionals. Their insights and connections can be invaluable.
Learn Continuously: Stay curious and always be learning, whether it’s about your industry, marketing, or personal development. Knowledge is a key asset.
Focus on Cash Flow: Many businesses fail due to cash flow problems. Keep track of your income and expenses, and ensure you have enough runway to weather lean months.
Embrace Failure: Don’t be afraid to fail, as long as you learn from it. Mistakes often lead to the most growth.
Adaptability is Key: The market changes, and things won’t always go as planned. Be ready to pivot or adjust your approach when necessary.
Prioritize Time Management: As an entrepreneur, your time is one of your most valuable assets. Prioritize your tasks and don’t spread yourself too thin.
Stay Consistent: Success rarely happens overnight. Stay disciplined, keep working toward your goals, and be persistent.
