From The Editor’s Desk

For an insufferably long time, I was an ideas guy. I’d get calls from friends asking for ideas on how to address certain situations or overcome a hurdle.

And I would come up with the most splendid ideas for business, local and global problems.

I’m not the only person guilty of extravagance in thought and deficit in action. You see that is one of the challenges we are facing amongst African youth, entrepreneurs and politicians.

We use ideas like propaganda, and we wow our audiences like kids listening to epic ghost stories.

Here’s the catch! Ideas are cheap!

You need an actionable plan to succeed in life or business.

That is why in this issue we are exploring Proof of Concepts, Prototypes and Minimum Viable Products.

A roaring lion kills no game, so stop talking about your grand ideas and start implementing them.

I hope you enjoy this edition. And if you do enjoy it, please share it with a friend or associate. The more the merrier!

ONwards and UPwar ds

Phrase/Word Of The Day

Venture Capital

: Money raised by companies to finance new ventures in exchange for percentage ownership. Venture capital generally comes from investors, investment banks, and financial institutions. Venture capitalists provide backing through financing, technological expertise, or managerial experience.

Main Issue

Proof Of Concept (PoC)

Somewhere, sometime back, I read that the richest place is the graveyard. Just imagine all the life-changing ideas and unrealized dreams buried there!

The easiest way of not dying clutching your dreams is coming up with a Proof of Concept (PoC).

Let's face it, we all have a million ideas floating around in our heads. We see opportunities, envision products, and dream big. But dreams are just that - dreams. They become a reality only when we take action.

What is a PoC?

A PoC is the process of proving that an idea is feasible. It's a screening phase to decide whether the idea can and should be brought to life.

Consider a PoC as a mini-version of your big idea, a test run, a stepping stone, a way to see if your dream has legs and can stand on its own two feet.

Most great ideas fail before they even get off the ground. Why? Because entrepreneurs are afraid to put their ideas to the test. They fear rejection, criticism, and the possibility of failure.

But the truth is that failure is a learning opportunity. A PoC allows you to fail fast and fail forward.

How To Write A PoC.

1. Focus on the core. Don't get bogged down in the details. What's the absolute minimum you need to build to prove the viability of your idea?

2. Keep it simple. The goal is to test, not to build a perfect product. A simple, functional prototype is better than a complex, unfinished one.

3. Get feedback. Don't just build it and hope for the best. Show it to your target audience, get their honest opinions, and be ready to adapt based on their feedback.

Use the template below to write a PoC.

Knowledge Corner

PoC vs Prototype vs MVP

POC :"Can we do this?"
Prototype:"Does this work well?"
MVP:"Do people want this?"

Book of The Month

The Psychology Of Money

14 Lessons from The Psychology of Money

1. The most important part of every plan is planning on your plan, not going according to plan.

2. Do not aim to be coldly rational when making financial decisions. Aim to just be pretty reasonable. Reasonable is more realistic, and you have a better chance of sticking with it for the long run.

3. Success is a combination of luck and skill. Recognize both factors play a role in your financial journey.

4. Nothing is as good or bad as it seems.

5. Time is your greatest asset. The longer you invest, the more compounding works in your favour.

6. The ability to do what you want, when you want, with who you want, for as long as you want, is priceless. It is the highest dividend money pays.

7. History is the study of change ironically used as a map of the future. Things that have never happened before happen all the time.

8. Embrace humility. Be aware of your own biases and limitations in financial decision-making.

9. Build financial security for peace of mind, not for bragging rights.

10. Everything has a price, but not all prices appear on labels.

11. Investment returns can make you rich. But whether an investing strategy will work, how long it will work for, and whether markets will cooperate is always in doubt.

12. Focus on your personal financial goals, not on comparing yourself to others. No one is impressed with your possessions as much as you are

13. There is no reason to risk what you have and need for what you don’t have and don’t need.

14. Good investing is not necessarily about making good decisions. It’s about consistently not screwing up.

Tech

Saith Teases Self-Powered Electric Cars

Maxwell Chikumbutso-led Saith Technologies is teasing the world’s first self-powered electric car (SPEC). Chikumbutso shared a sneak peek of the SPEC which has an acclaimed limitless driving range.

According to Chikumbutso, for the first time now you can even use your car to power your house! Yes, you read that correctly. The SPEC does not need any external recharging system since it is powered by a micro-sonic energy device, a device that converts radio frequency energy directly into electricity.

This has been a long time coming as Saith at one time unveiled a prototype featuring the breakthrough technology. Now it is headed for commercial release. And we eagerly wait to see if another African can disrupt the EV market as Elon Musk did.

We got hold of Maxwell but he reiterated that for security reasons much of the technological details can not be divulged until launch day.

StartUp Spotlight

Easy Equities

EasyEquities was born in 2014 with a mission to tackle the inequality in investment access faced by millions of South Africans. They wanted to make equity investing accessible, cheap, and - dare I say -fun!

Their online platform allows anyone to buy shares in the brands and companies they love. For as little as R5, R10 or whatever amount they have available to invest and with no monthly brokerage fees newbie and seasoned investors alike can grow their wealth.

Through their patented Fractional Share Rights model, investors can buy and sell small portions of equities traded on stock exchanges.

Their strengths include offering fractional shares, having a user-friendly platform, focusing on education, and charging low fees.

Local Heroes

Lindiwe Matlali

Lindiwe Matlali is driven by the belief that no child should be left behind by the tech revolution. Her mission to bring science into children’s classrooms -underprivileged children especially, and girls in particular - led to her founding Africa Teen Geeks, a social enterprise that teaches children and unemployed youth how to code, exposes them to computer science, and inspires a future generation of technology entrepreneurs and innovators.

Lindiwe has been distinguished with the 2019 Commonwealth Point of Light recognition awarded by Her Majesty Queen Elizabeth II and the Motsepe Foundation Shining Light award. She was also the first African to win the Digital Female Leader award from the German Global Digital Women 2019 network and was the MTN Women in ICT Community Builder Recognition Award winner in 2018. This resulted in her being selected to join the South African Presidential Commission on the Fourth Industrial Revolution (4IR).

African Proverb Of The Week

Inside Africa

Discover The Iconic Zanzibar

Zanzibar is an island steeped in culture and history – a destination which brought adventurers, seafarers and traders from far and wide.

The Zanzibar archipelago is set in the Indian Ocean and is composed of the larger islands of Pemba and Unguja (also called Zanzibar Island).

Zanzibar, a semi-autonomous province of Tanzania, is also known as the ‘Spice Island’ due to the delicious variety of spices grown on the island’s many plantations.

The archipelago is a world-acclaimed tourist destination. Consider putting it on your bucket list and together let’s boost intra-Africa tourism.

Culture

Fattening Rooms of Calabar

The fattening room is a practice in Nigeria whereby women or adolescent girls are kept away from their companions, societal interactions and also from performing their customary duties. This period may range from three months to seven years depending on the wealth of their father.

The purpose of the fattening room is to groom and raise girls or intended brides according to the traditional norms of the people. This is to enable them to take care of their prospective husbands and their future homes.

A fattening room is like a traditional school where the lady or bride is groomed into a good mother, a wife, with an overall good character, that will be attractive to men.

The practice of fattening rooms is dominantly practised in the southeastern part of Nigeria, especially among the Efiks. This cultural practice is gradually waning, though not entirely. However, it has become part of the tourist attractions among the Efiks.

AND THAT’S A WRAP

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Happy Hustling.