Why African Founders Need “Exposure Capital”
As an African founder aiming to scale your business regionally and globally, securing exposure is crucial. The people you meet, the places you travel, and the diversity of your team can significantly increase your chances of building and expanding your business.
Exposed founders generally have a higher likelihood of success compared to their less-exposed counterparts. Reviewing the Big Deal database by Max Culliver reveals that founders who have raised substantial capital from global investors share common traits: they attended reputable schools, have diverse teams, and possess strong corporate backgrounds. While some companies founded or co-founded by local founders succeed, they often benefit from better exposure in terms of business networks, mentors, and strategic partners.
When resources allow, it’s essential for founders to travel and meet new people. Participating in regional and global accelerator programs, pitching fairs, and competitions can provide invaluable exposure. This exposure helps you acquire new ideas, explore innovative solutions, and unlock potential you might not have realized in yourself or your product. With the right type of exposure, complex problems become easier to solve, and you can build for a global audience while thinking locally but acting globally.
There are various ways to gain exposure: traveling, joining a virtual accelerator program, inviting an international team member to join your team, or collaborating with a more advanced startup. Whatever path you choose, strive to get exposed. The "exposure capital" you gain is as valuable as financial capital. How you spend money when you are exposed differs significantly from how you would when you are not.
Consider why Elon Musk has the audacity to dream of taking us to Mars. His networks and the exposure he has attained make such ambitious visions possible.
For African founders, exposure is not just beneficial but essential for exponential growth and success. Prioritize gaining exposure in any way you can to build a thriving, scalable business.
