“Ignore Cubana Chief Priest” – Dr Charles Awuzie
In the entrepreneurial world, image can be everything – but not in the way you might think. Some of the most successful entrepreneurs have chosen a surprising path to securing funding and building solid, enduring businesses. Steve Jobs, the legendary founder of Apple, provides one of the most notable examples.
Jobs, alongside his friend Randy Adams, bought a pair of Porsche 911 luxury vehicles to celebrate their success. They were already millionaires, enjoying the fruits of their hard work. But when a rich investor visited their office, Jobs ran to Adams in a near-panic, exclaiming, “Hide the Porsche… we have an investor!” They promptly moved the cars to the back, opting to meet the investor in a humble, modest environment.
This approach paid off in a big way. The investor signed a check for $20 million, crucial funding that helped their startup get off the ground. This story became part of what is now considered an unspoken rule in Silicon Valley – project modesty and budget-consciousness to build investor confidence.
Why Modesty Matters to Investors
In the world of venture capital, investors aren’t just investing in ideas; they’re investing in people. They look for responsible, hardworking leaders who can manage money effectively and live within a budget. Flashy displays of wealth can give the impression of a lack of discipline or focus, which can turn potential investors away.
A Tale from Africa: Cubana Chief Priest’s Influence vs. Entrepreneurial Reality
Recently, Cubana Chief Priest, a prominent Nigerian businessman known for his lavish lifestyle, has gone viral for advising young people to “appear rich to make money.” However, many successful entrepreneurs argue the opposite, pointing out the importance of restraint and budget-conscious behavior when trying to attract serious investors.
One entrepreneur shares his experience: an investor once visited his home and saw a Range Rover and a new Jaguar F-Pace parked outside. Far from being impressed, the investor saw this display of wealth as a sign that the entrepreneur didn’t need further funding. The deal fell through. Reflecting on this, he decided to clear out his luxury cars, embrace a more minimalist lifestyle, and focus on building investor trust through disciplined, responsible financial management. The results were dramatic – since adopting this approach, he’s gained far more investor confidence.
The Capital Market’s Perspective: Invest in People, Not Luxury
Investors want to see dedication, not a display of personal success. They are drawn to entrepreneurs who show discipline, live within their means, and demonstrate a commitment to working hard for their goals. Investing in a startup is already risky; seeing an entrepreneur who’s budget-conscious and responsible with money can make all the difference.
The Bottom Line: Show Modesty to Attract Growth
Building a solid reputation is key. Entrepreneurs who dream of attracting serious investors should focus on the hard work and discipline needed to build value rather than on outward displays of wealth. This approach not only secures investor trust but can also foster long-term growth and stability for your business.
Whether you’re launching a tech startup or creating the next big brand in Africa, take a cue from Silicon Valley legends: live modestly, focus on your work, and “hide your Porsche.” This mindset could be the difference between attracting millions in funding or turning investors away.
In conclusion he said, “If I announce any investment opportunity on this platform, believe me, thousands will queue up. Why? I have not shown myself to be crazy about cars, private jets and beautiful vacations. I don’t even take break from work. My life is about WORK WORK WORK. I am working for my investors – to make sure that their capital turns to profit for them. I can only grow when my investors grow. If I lose their money, I lose my self.”
