MisterBA - Your Business Analyst Podcast. START and GROW a Business : Online Business | Passive Income | Business Startup | Business Automation | Business Ideas | Business Models
About This Show
Behind the scenes secrets of successful businesses helping you the entrepreneur improve and take your business to the next level.
Most Recent Episode
MBA 045: The Future of Entrepreneurship with JO BOOYSEN
5 days ago
Jo started his first business in 1991 when he identified a gap in the market for affordable food and fresh produce in the townships. He succeeded in bringing down the cost of food significantly and subsequently scaled the business to various townships. Upon selling that business, Jo joined his brother in a business where they rented out sheds to builders. That specific venture grew to become one of the largest manufacturers of prefabricated houses. Jo and his brother later opted to sell the company.
Jo prefers the thrill of a start-up to the stability of an established business which is why he tends to sell his businesses once he’s grown them sufficiently. He feels his creativity would be stifled in a mature company.
Jo proceeded from the retail space to the construction space and eventually moved on to the tech space. In-between all that, he founded a fast food chain after he saw the need for quality hotdogs in South Africa. They have about 300 outlets as part of that franchise at the moment.
From Jo’s passion for alternative advertising came Yonder Media.
Differentiate Yourself from your Competitors
Private equity companies in South Africa are mostly risk-averse, according to Jo, because they comprise of corporate bankers who haven’t been exposed to startups. To stimulate economic development the government started the J12 tax incentive and many new venture capital companies fall in this category. Jo agrees that when investing in very early stages of a startup, you need to invest much more than just money. He handpicked his co-founders to be part of the team at Futurepreneurs. They all have multiple success stories behind their names.
A few people on the advisory board are investors in Futurepreneurs, but most are philanthropists who want to see others succeed. Joe feels that successful entrepreneurs naturally lean towards helping new entrepreneurs. The real value proposition of Futurepreneurs lies in their potential to mentor each entrepreneur who goes through their programme.
Futurepreneurs charge a 4% annual fee for their board of experts to really get involved in these startups. Based on various factors an equity deal is negotiated with the owner of the startup.
Futurepreneurs do not fund ideas at the moment – they do not invest in the very early stages of a bus