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[Press Release] Chasing the truth – Raizcorp Entrepreneurship Open Day

Raizcorp, which according to The Economist (2017) is the only genuine incubator in Africa, distinguishes itself from other “incubators” and so-called entrepreneurial development businesses in that it drives entrepreneurs to really be honest with themselves regarding all aspects of their business. The premise behind this approach of Socratic questioning is that the secret to shifting your own mindset, and therefore your business, is asking yourself questions and answering them honestly. In many instances people answer questions with a “public” response instead of an honest, self-reflective one.

An example of an introspective question that entrepreneurs could ask themselves regularly is: “Are you adding enough value to your clients?” If they answer this question to themselves with a “public response” and say they are definitely adding value, when deep down they know they aren’t, their business won’t shift because they are only deluding themselves. If entrepreneurs admit to themselves that they aren’t adding sufficient value to their clients, they open up more questions which will lead to actions they can then take to change their current situation. After they’ve answered the first question honestly, they then need to ask themselves more questions, such as: “Why aren’t I adding value?”, “How could I add more value?”, “What do my clients perceive as value?”, “What are my competitors providing to my potential clients?”, and “Will the value I am providing today be sufficient for my clients in a year’s time?” By continuing to answer these questions honestly, you will unlock ways to improve your business and its value proposition to your clients, thus increasing your relevancy and probability of growth.

In a time of absolute political correctness, where everyone is watching their Ps and Qs, Raizcorp is teaching entrepreneurs to go out of their way to speak the truth and not to dumb down their responses. As part of Raizcorp’s Open Day on 25 May 2017, they launched an exciting new interactive panel called Chasing the Truth. The panel delves into the difficult questions that entrepreneurs often don’t think about or don’t want to think about.  During the hour-long session, five entrepreneurs are randomly selected from the audience and are asked to sit on the “hot seat” where they are asked one question pertaining to each of Raizcorp’s specialist disciplines, namely Strategy, Finance, Sales, Marketing and Personal Development. The panel then probes the entrepreneurs’ answers in an honest, straight-forward way and in doing so the audience are asked to think about how they would answer the question if it was posed to them regarding their own business.

This panel provides entrepreneurs with hard feedback that is instant and forces them to be honest with themselves in order to shift.  If entrepreneurs practice Socratic questioning, they will become better at asking the right questions, at the right time, and in the right sequence. A key question they should ask themselves daily is: “How am I standing in the way of my business?” It’s not an easy one to answer, but by being honest with themselves, their businesses will continue to improve and grow.

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