With well over 20 years of investment success and business experience under his belt, businessman and innovator Saif Durbar is no stranger to the techniques that make a good investment business tick. In point of fact, Saif Durbar has himself started more than one successful investment business, with his latest being Bridge Africa, an investment consulting firm helping companies gain footholds in African business markets. Saif Durbar joins us to share some of his wisdom for those seeking to follow in his path and start an investment business of their own.
- Plan. As with any business, says Saif Durbar, the majority of things that go wrong could have been avoided with the proper plan in place. Don’t be in a hurry to get started; rather, don’t be in such a hurry that you neglect to take thorough time to create a solid business plan. Saif Durbar advises consulting with an expert if you have never done a business plan before. In the plan, you will outline the business’s goals, and how exactly the business will achieve those goals. A business with a good plan will succeed, and a business with a bad plan will fail, simple as that, says Saif Durbar.
- Research. Knowing what is already out there in the market is key to knowing how viable your plan will be, says Saif Durbar. If you are seeking to enter an investment market where there is already a high level of competition, you will experience much more difficulty than if you seek out a niche that is unmined, or that only your expertise can fill. Saif Durbar cites his unique positioning as an expert in African business markets in driving the success of his company Bridge Africa.
- Funding. With the right plan and well-documented research, funding will not be a difficult task, says Saif Durbar. Nonetheless it is important to ensure that proper funding is in place prior to launching into business. Otherwise, Saif Durbar cautions, your business may be in danger of being undercapitalized and sinking before it ever has the chance to get afloat.
- People. People are the lifeblood of any good company, says Saif Durbar. Staff your company with high-level talent and you will see the results clear as day. A good employee is worth their weight in gold, so don’t be shy about compensating them accordingly. People drive your business to new heights, says Saif Durbar.