After what must have been an emotional day, the Top Billing presenter shared his thoughts on closing down his business, which had failed despite his best efforts to make it succeed.

Without going into too much detail – and without naming the company – Maponyane described how, four years ago, he had used all his savings to back what he thought was a brilliant business idea.

“A great team was built around it, and I continued to put whatever I could into it just to give it a fair chance, even if investors weren’t going to. This week we had to close it,” Maponyane tweeted, ending the final sentence with a sad face emoji.

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He further explained that the business had been on the brink of collapse on numerous occasions and that he had kept trying to keep it alive in any way he could.

“Promises being made, and not being kept. Waiting on people to pull through for you to survive and making a plan to cut everything else to keep it alive in any possible way.”

He said that eventually, after exhausting all avenues, he’d had to close his eyes and let go.

Maponyane learnt some valuable lessons from the collapse of his business, namely:

  • the level of risk that comes with entrepreneurship
  • to fail forward and keep trying
  • that there’s always a next time
  • to use the previous lessons to start and run a business in a better way