13 Important Tips From My Experience To Help You Win N3 Million Naira Diamond BET 7 Grant Application
13 Important Tips Form My Experience To Help You Win N3 Million Naira Diamond BET 7 Grant Application Accessing business startup or expansion funds in this part of the world often and sometimes require a lot of effort. Most dreams have been on stand still due to lack or inadequate capital.
Diamond bank has decided to give out N3 Million Naira each to Top 5 winners of their initiative called Budding Entrepreneurs Today (BET) and the 7th Edition Application has started and will close by September 29, 2017.
Before I share with you these 13 important tips, let me quickly tell you that I benefited from this opportunity at the 5th edition called Diamond Bet 5. I was opportune to be part of the Top 50 to be trained at the Enterprise Development Center (EDC) of the Lagos Business School, Pan Atlantic University, even though I was not part of the Top 5 that received the N3 Million.
I encourage young entrepreneur to maximize this opportunity.
Here are the 13 Things/Tips To Take Note Of As You apply To Accelerate Your Success Journey In BET 7.
- Apply at diamondbet.com.ng, the deadline is September 29, 2017. Please apply on time so that you don’t become a victim of last minute rush on the last day.
- Have an innovative idea as a startup or innovative business that you are currently running that has a social impact. Existing business enjoy the training more because of the instant application of the business knowledge.
- Create a 60 Seconds video showcasing your elevation pitch presentation. You can do it in your business office and presenting what you manufacture or sell. Just be creative. You can use your phone, then upload on YouTube and copy the link.
- Summarize Your Business Plan in 300 words. This is the most important aspect of the application. You have to write something that can make you to be selected. My organization can help you write or review your business plan summaries for a token. Call or WhatsApp me on 08060779290 or send a mail to email@example.com. We have been doing this for more than 5 years and we have success stories.
- Top 300 will be invited for business interview and you have to be prepared for this phase because it will determine if you will enter the top 50 or not.
- Here are the focus of the interview and what the interviewer wants to discover about you.
- The top 50 that will be selected for the training must possess some level of capacity and capabilities both academic wise and financial wise.
Let me explain more.
You will be asked questions along the line of
- Traction on your business/idea.
- Your intellectual capacity to attend the training.
- Your financial capacity to attend the training because this edition runs for 6month, the one I attended in BET5 was a 3-month training and 20 days contact.
- Ability to implement the training in your business or idea as the training progresses.
- These are various ways to show traction in your business.
Business traction simply means what you have done so far in your business. So,
- Tell us when you started and your business location.
- Tell us If you are registered with CAC or not and if you are, show us the certificate, please don’t say it’s at home.
- Tell us how much you make in your last year transaction, something like annual turnover.
- Tell us how much you sell your product and services.
- Tell us how many people you have employed.
- If it is a new idea, tell us how much you have invested in researching and learning about the new business you want to start and tell us why you have not started it and your milestone to get it started. Please tell them as if you will start that business that month of your interview.
- You can print your bank statement and show them if you run a corporate account.
- Take pictures of your products or where you are rendering your services.
- Generally, show that you are interested in coming to EDC (Enterprise Development Centre) to learn and that the N3 million grant will just be an icing on the cake.
- Show that you have the financial capacity to attend the training in EDC.
Let me tell you this, you will need money to attend this training in EDC. I have to empty my account at that time to ensure I don’t miss out of the training opportunity because my core business is around Business Development, Training and Consulting.
Here are the levels of investment you will make in terms of money, if you pass the interview and you are invited.
- You will have to pay the counterpart funding of close to 10% i.e. Diamond bank have paid between N800,000 — N1,000,000 on your behalf for the training. During my own BET5, we paid N75,000 as counterpart fee But I don’t know if they still collect money.
- If you are not a Lagos based person, you will have to find a place to stay during the 6month training, so in a month, you might just have 7 days of training from 9am-5pm.
Generally, you will meet new level of friends and for me, that contact has added a lot of value to me in the last 2 years.
EDC community is a great place to be part off.
- This programme is more of capacity building than just the N3 million grant. A year after my capacity has been built in EDC, though I did not get the BET N3 million grant but I got $5000 for my passion of business consulting to open a Business Hub by Tony Elumelu Foundation.
- With that same capacity, I joined a network marketing company and in 15 months I rose to the top and was awarded a Brand New Car. I can always trace all this success to God for allowing me to experience the capacity building programme by BET.
- This 7th Edition is going to be a very unique and I want you to apply. You don’t have to have a diamond bank account; all you need is just an idea.
- The 7th Edition is going to be a six (6) month programme. You have to start arranging how your business can run in your absence during this period.
- The theme of the BET 7 is “Innovation and Social Impact”- learn these terminologies and be able to apply it to your business e.g A question can be asked, what is the social impact of your business?
- Your 300 words business plan summary must show that your idea is innovative and can make impact.
Remember we can help you write or review what you have written
Generally, I encourage people to apply for BET 7.
For enquiries on my experience,
Call or whatsApp me on 08060779290 or send a mail to firstname.lastname@example.org.
Read More About the application process Here