Entrepreneurs Growth Plugs – Episode 2: The 5 Key Capital You Must Have by Javnyuy Joybertadmin
Good morning to you Entrepreneurs & Wannabe Entrepreneurs. Welcome to episode 2 of Entrepreneurs Growth Plugs Series.
Today, I will talk about the 5 types capital every Entrepreneur must have to run a thriving career & Entrepreneurial institution.
You will struggle, be weak if you are not building all these 5. Ready? Let’s go
Human Capital- People
Hear me, you can test & validate an idea alone but you cannot scale or build an entrepreneurial institution as a one man army. There’s difference between an entrepreneur and self employed. You have to intentionally search for the right team members, partners, customers and other stakeholders who can help to grow the startup. Identify the kind of people you need to grow & find them.
Intellectual Capital – Ideas, Information: To be a successful entrepreneur, intellectual capital is key. This cut across from ideation, to getting access to relevant information, analyzing the information, making relevant decisions and more. This is in Incredible capital for every successful entrepreneur. You need to intentionally build your mental muscle.
Social Capital- Relationships & Trust
If you ask many entrepreneurs now what is their most important capital they need they will tell you financial capital. And year in year out they struggle to raise this capital without success. You cannot raise capital from people you don’t have a relationship with, you cannot even raise capital from your family and friends if they don’t trust you. Dear Entrepreneurs, let’s intentionally build our social capital – build relationships and trust. It’s simple if you have weak social capital you will never raise financial capital.
Financial Capital – Money
Oh yes, the one many entrepreneurs think is the only one they need to succeed. But no, this is just part of what you need in your capital system to run and build a successful business. You will need to master the art of raising money. Note this, you don’t need money from third parties (grants, investors) to start a business, you need the money to grow (scale) a business.
Digital Capital – Online
One of the most critical and important capital for all Entrepreneurs. In this century, when a customer hears about you for the first time they do two things – search on all social media platforms and the big daddy google and if you are not on any you break their hearts and they lose credibility in you. For some people like investors and potential partners, they ask or look for your website. Your online presence is your digital capital don’t joke with it. [At AFA Designs Tech Firm we have an incredible package where we help businesses building amazing online presence for their clients, Investors. Contact me +237656140207]
To succeed, all 5 capital must be integrated and well developed. At COSDEF Group & AFA Designs we work with you to build all 5.
When it comes to running a successful people it’s more than just having an innovative Idea and the money. It requires more. Keep building your Entrepreneurial dream
Originally featured on www.javnyuyjoybert.com