Entrepreneurship is about starting new business and entrepreneur training is designed to teach the skills and knowledge that entrepreneurs need to know before embarking on a new business venture. Trained entrepreneurs will be able to avoid many of the pitfalls awaiting less well trained and vigilant contemporaries. Investment in entrepreneurship education is rewarding.
The courses are as follow:
Don’t fall into the trap of starting a particular business just because you have seen and heard success stories about the business sector or your friend, relative or colleague tells you, “It’s a fantastic business.” The business selection course focuses on answering the essential question “does the business idea make economic sense and should you proceed with it?” The course also examines the growing business sectors and opportunities of the Nigerian economy and how they should be analyzed in the business selection process. This course is for participants who want to select a business.
The business diversification course examines the issues of moving into new business areas, products or services. Should you diversify, how and when do you diversify? This course is for business decision makers that have core products and services that are doing well and are considering if and how to enlarge their revenue and profits through diversification. The course is also for those in businesses that might stagnate in future due to stiff competition or market maturity and want to increase their product offerings to gain new markets or deepen existing ones.
Understanding Business Models
A business model gives the structure of the business plan by describing the rationale of how an organization creates, delivers, and captures value. At the early or start up stages of a business or its expansion we often recommend doing a business model and try amending its elements in various ways to find out the ideal way to organize the business before adding more details to write the full business plan. The advantages of understanding the business model before you write the business plan are:
- It strip away many details in a traditional business plan to improve clarity, focus on what is driving the business, identify the core and non –core issues and decide how to do things differently from your competitors to gain advantage.
- The business model consists of 9 elements – customer segments, value propositions, channels, customer relationships, revenue streams, key activities, key resources, key partnerships and cost structure. So it is a lot easier to analyze, tweak, change the model or try things (from a planning perspective) before expending time and resources on writing and implementing the full plan.
- At the early stages of the business it is a lot easier to understand a business model and communicate it to others
This course is for startup businesses and existing businesses that want to improve.
Writing Business Plans
After you have decided on a business model, you need to communicate in writing your business goals, objectives, methods, costs and expenses to yourself, partners, staff, other investors and lenders. A business plan is a written document used to detail plans for a start-up or to restructure an existing business. This document is used to describe business vision, mission goals, model and operational strategies as well as provide a blueprint of financing and marketing plans. Essentially, it provides detailed information about where a company is going and how it will get there. This course is for those that want to write their business plans in a way that will serve as their internal guide, roadmap to success, communicate their plans to key stakeholders and audience including partners, staff and fund providers.
Getting Funding for starting and growing a business can be challenging. This course explains the funding options, how the business balance sheet determines the kind of funding you need, collateral and other documentation requirements, who has funds and what they are looking for.