What do you need to succeed? AFRILINK’s Edgar Thyret gives three important pieces of advise to aspiring entrepreneurs.
1. What is your business and how are you involved with AFRILINK?
I have a post secondary diploma in Basic Engineering Sciences. I worked in a conveyor belt manufacturing plant from 1960 to 1973 as both a Belt Product Engineer and finally as Belt Marketing Manager. In 1974 I founded Quality Belt Maintenance ltd. an Industrial Rubber service company with two partners. Today this company has 5 branches in Canada and 4 in the United States. I feel personally obligated to provide mentorship through AFRILINK.
2. Where did you find the greatest challenge as an young entrepreneur?
The greatest challenge I have faced in growing this business has been a lack of capital and the ongoing challenges in funding a growing business.
3. What are the THREE KEY LESSONS you would like to pass on to entrepreneurs?
1.To have the entrepreneur do a thorough market research to determine the market size and need for whatever he or she wants to do. During this search, he or she should determine if the potential customers would value the service and also any other competitive factors.
2. Based on the market survey, develop a formal and realistic business plan to ensure the endeavor is worthwhile.
3. To line up capital support for the project and to confirm there will be sufficient backing for the project.
Thank you Edgar for your mentorship and important work with AFRILINK.