The essence of any decision by aspiring, young South African business people will surely be: What benefit is there for the entrepreneur joining the Progress Project? What is in it for you and what can we do for you? Continue reading
The process for approval to join and benefit from joining the Progress Project is easy, but designed to protect the entrepreneur.
- Submit a basic business idea to establish the uniqueness of the proposal.
- Brief online or telephonic assessment of the appropriateness of the Progress Project as mentor.
- Signing a Non-Disclosure and Confidentiality Agreement to protect the intellectual property rights in the idea of the entrepreneur.
- Quantifying the mentorship and leadership requirements and contribution.
- Quantifying the financial investment and methods of funding required and achievable.
- Decision on progressing with the project proposal of the entrepreneur.
- Drafting of basic business plan for presentation and identification of appropriate business type.
- Meeting potential key stakeholders, contributors and investors.
- Viability decision and creation of time frame deadlines for project.
- Secure and make available initial funds to the entrepreneur.
- Completion of legal paperwork to establish business.
- Establish new business.
- Ongoing guidance, expertise and knowledge sharing between the Progress Project and the entrepreneur.
At this stage, the process for approval is competed and the entrepreneur’s new business start up is underway. The entrepreneur has funds and expertise available, a comprehensive course of action plotted out and the business tools necessary to start up and successful business.
“If law school is so hard to get through, how come there are so many lawyers?” Calvin Trillin
Spend less money earlier
Most people I know have heard one or other joke about lawyers, but dealing with lawyers is no joke. In any new business, legal expenses for the drafting of proper contracts and purchasing an accounting system for accurate cash flow management, are cheaper than cleaning up a mess later.
It is an unpalatable truth that your business will inevitably seek legal assistance of one description or another. That may be in the form of litigating in court, having contracts drafted, legislative compliance or a myriad of other proactive or reactive matters. Let me assure you of the only guarantee I know of in law – it is expensive! Continue reading