When an entrepreneur pens down a short note advising fellow entrepreneurs it probably is something very important many people are not talking about. And so, when the CEO and Co-founder of Swappaholics took to his Facebook wall to send a short message to ‘startuppers’ we thought it would be an interesting one and it is.
Francis Obirikorang, CEO and Co-founder of Swappaholics said;
Its all cool to say you’re building the next cool ish, saving humanity through VR etc until you get you get your ass handed over to you in a business meeting when they start throwing phrases like “dilution clause”, “valuation”, “convertible preference”, “5X EBITDA”, “Capping at year 4 at 18%” etc etc.
There’s more to learn than just the codes, building fancy software or businesses, brandishing business cards with the CEO, CTO & Co-founders titles embossed in glossy finishes. This is the real deal. It either makes or break you.
Get some business books and learn, stop chasing hypes and “awards“. Might save you from ignorance and selling your soul to the “devil”.
His post has generated a lot of varied opinion and commentary on whether or not the business owner must have all the information about the industry and business being ran instead of allowing a business manager handle some part of their activities or answer such technical questions during interviews or pitches.
Francis’ point appear to be summarized in the last paragraph where he talks about ‘startuppers’ being more interested in learning and reading about their business rather than chasing awards and recognition with the intention of using that to build trust and credibility in the sight of the public.
Francis is an ardent technology enthusiast who believes in disruptive technologies. He is currently the CEO and Co-founder for Swappaholics Holdings Limited. A company that offers a swapping site that enables individuals, corporate organizations, and the general public to list, share, and swap various items in Africa.