You Do Not Need a Lot of Money to Start a Business – Futis Founder

By Phiwa Sikhondze

While many aspiring entrepreneurs think that they need a lot of money to start and run a successful business, the Director of Futis Chicken Cottage, Vusi Dlamini, has come out to rebuke that notion.

Dlamini disclosed this at the MTN Business Connect Session on franchising, where he was one of the guest speakers. The session aimed to educate and inspire local business owners, representatives, entrepreneurs, and aspiring entrepreneurs on how to start and run a successful franchise business.

The session’s other keynote speaker was Portia Dlamini, the Director of Amigos Restaurant. She shared her insights and experiences on running a profitable franchise business, and the challenges and opportunities that come with it.

The Futis founder noted that as much as money is a requisite for starting a business, people should not misconstrue it as the messiah to a business’s success.

“There is a big misconception about funding and starting a business. You don’t need too much money to start a business. You don’t, but you put that constraint in your head. So, do not put that constraint in your head that you need money. What is more important than capital in running a business is the systems and having a good product. For instance, when starting a business make sure that you have a proper accounting system because it will help you determine if your business is feasible or not. The controls are critical, once your business grows, make sure there’s a segregation of duties because it is fundamental,” he said.

Dlamini delved into the non-monetary factors that keep a business successful. Among these factors, he emphasized on the significance of keeping the business relevant to the market and time. He highlighted the significance of keeping up with trends to maintain the success and profitability of any business. He added that most successful businesses tend to fail because of failure to innovate and hold onto old techniques and strategies even when they fall irrelevant.

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