Vusi Thembekwayo to mentor 40 entrepreneurs

CAPE TOWN – Venture capitalist Vusi Thembekwayo recently launched a mentorship programme called #Top40 under MyGrowthFund (MGF). He launched the company to find and nurture high-growth black entrepreneurs through funding, incubation and enterprise development platforms. #Top40 opened up for applications from entrepreneurs generating R1 million annual revenue and is seen to grow.
“Our experience has taught us that most entrepreneurs die at the growth phase of their business and this is typically after a year in operation. We want to help businesses that have hit the ceiling scale up their businesses and progress to the next level, says Thembekwayo.
Thembekwayo says one of the requirement for the mentorship programme was to audit financial statements. Strict performance targets would be set for the businesses to maximise value and output for the entrepreneur.
“Success is about habits. Most entrepreneurs fail because they have poor habits. Over the 18 months, MGF will implement systems in the business of the beneficiary entrepreneur that will ensure success habits such as practical financial and cash flow scheduling; robust market access systems that are scalable and measurable and people management, rewards and motivation systems to ensure the entrepreneur maximises their single most important asset, their people,” adds Thembekwayo.
He says the mentorship programme will aim to instil the following successful habits:
1. Practical financial and cash flow scheduling
2. Robust market access systems that are scalable and measurable
3. People management, rewards and motivation systems to ensure the entrepreneur maximises their single most important asset, their people.
To apply, visit: mygrowthfund.co.za/top40Applications close at noon on May 31.