Confident Contestants in Cape Town
The ninth annual ENGEN Pitch & Polish programme kicked off in Cape Town on 4 August with the highest number of delegates in attendance so far. Since its inception, this national entrepreneurial workshop and competition – which is hosted in partnership with Engen Petroleum Ltd, Nedbank and Raizcorp – has helped over 10 000 entrepreneurs improve the way they pitch their businesses to potential investors.
“It is evident in Cape Town that entrepreneurs have good ideas and here, at ENGEN Pitch & Polish, they are given the skills to package those ideas in order for them to be actualised. For Engen, empowering individuals to realise their dreams contributes to an empowered and employed nation,” commented Kholekile Dlakiya, Transformation Manager at Engen Petroleum Ltd.
The day’s winning formula saw Justin Cohen (best-selling author and international speaker) motivating the crowd about the value of delivering a polished pitch. The workshop aims to teach participants about how to develop a well-rounded and investor-ready pitch. The interactive nature of the event ensures that everyone participates while learning at the same time.
At each of this year’s events five contestants will pitch their businesses while the facilitator and attendees will offer guidance, advice and direction to help shape the pitches.
For example, on Saturday, Craig from Belville set the tone with his very confident pitch. Over the course of the day, his learning focused on how to define his advertising offering in layman’s terms while demonstrating his business acumen by clearly explaining his business model.
For Miyelani from Mitchells Plan, it was all about how to refine and explain exactly what his catering business sells and offers. Operating a business in a specific city or area which addresses a gap in the market can be a viable business model.
Explaining your story can also be a powerful tool and this was successfully incorporated into the pitch by Liesel from Kraaifontein. Navigating the process of buying and renovating her first home spurred the idea to start a business which assists homeowners with the buying process and connects them with relevant suppliers. Online searches can be overwhelming and contradictory making a trusted source invaluable.
The feedback that Nokhuthala from Brackenfell received for her pitch was to state your credentials early on. She learned that communicating upfront that she holds a Master’s Degree in Environmental Management adds weight and authority to her pitch and will garner more consideration for her already sound offering.
Asiphe from Khayelitsha initially focused his pitch on the need for social entrepreneurs but, through the day, he shifted his pitch to concisely explain that he sells healthy biscuits, to talk about what brought him into the industry and to be clear about the financial model. His dedication and enthusiasm were very inspiring.
Investors respond to both what you say and how you say it. Keeping them riveted and asking questions – all while maintaining composure and answering any questions clearly, concisely and with authority – are key tools in the next step to the investing process.
The 2018 winner of the Cape Town leg of ENGEN Pitch & Polish was Craig Kensley, who won R6 000 and a week of training at Raizcorp in Johannesburg worth R150 000. He also has the opportunity to go through to the semi-final to become the ultimate 2018 ENGEN Pitch & Polish winner and receive further cash injections and other prizes.
Congratulations to everyone for attending, for taking action and for being the light that shines on the local entrepreneurial environment.