You are going to need the business plan you wrote in stage one because there are many questions that are the same with this stage two but the difference is , instead of 50words you are going to use 200 words to talk about the answer. That is the reason why I said you need a lot of content.
Note: It is good to copy all the questions and answer it on your computer before going back to the YouWiN Portal to upload and submit. PLEASE! don’t answer directly on the portal to save for latter because it might not save and you may lose all your data.
EXPLANATION OF YOUWIN 3 STAGE 2 QUESTIONS
Type of business
1. Is this a proposal for a new or existing business?
The difference between new or existing business is
– New business is just an idea in your mind.
– Existing business- This means you are already operating. You must have some evidence to back it up once you win. E.g CAC business registration, receipt you have given out and the one you received in your business. Then sometimes your bank account statement.
– Note: Any of this can win either new or existing. Out of our 4 winners in the last edition. 3 of the businesses were new business while only one was an existing business.
2. When did your company start trading commercially?
Less than 1 year ago
1-2 years ago
2+ years ago
– You have to pick one
– For new business pick less than 1 year ago
– For existing pick as appropriate.
Description of business
3. What is your industry?
Select an Option
• Animal farming
• Crop farming
• Food & Restaurant
• Building and Construction materials
• Chemicals, industrial materials
• Clothing, shoes and other personal items
• Equipment, Machinery, Metal
• Food and Drinks
• Furniture, Wood Products
• Other (Specify)
• Accounting, Finance and Management
• Auto, electronics, others
• Engineering, Building and Construction
• IT and Telecommunication
• Media and Entertainment
• Other Professional
Select your industry. If your industry is not there, select other industry or you write your special industry in the box above.
4. Explain the type of business you’re in. Provide a short summary of your business and outline the products and services that you plan to deliver.
– This question is the executive summary of everything your business is all about. No wonder you have to use 200 words. In stage one, you used 20 words to describe your business.
So what are you to write here?
– You have to package a convincing story that your idea is unique, viable, and practical, with great deal of innovation. From here, we will know if you will make it to the 1200 winners or not.
– You need to write:
1. Describe your business, list your product and service and the problems they solve
2. Describe the needs or problem your service or product will solve
3. Tell us why you chose this line of business
4. Tell us how you are going to solve these needs or problems.
– My school is solving ignorance problem in the society. We take care of children from 6months of age and above. Our service ranges from crèche, nursery and primary school, after school services.
– My restaurant offer different variety of foods for people to quench their hunger and thirst. Our services range from local meal menu, catering services, smallchops, mobile delivery, our Unique Selling Point is ability to generate different prices of foods that our customer can buy.
Note: Please write this aspect very well.
Words used: 0/200
5. Describe your top three business objectives for the next 12 months.
– These are what you want to achieve in 12months.
1. The number of people you want to employ in 12 months
2. The number of clients you want to be servicing e.g SAMS Store will be controlling 30% of the market share in Abuja.
3. Exceed customers expectation and keep them for life.
After discussing the objectives,
Talk about the company’s vision, mission , and specific goals you want to achieve in 12 months e.g to be the leading supplier of egg in my my area.
Note: you are using 200 words max.
Words used: 0/200
6. Describe the benefit that you and your proposed staff will bring to the business, including expertise (technical), track record (practical) and any relevant training in the Industry.
-This question was in stage one where you answered it with just 50words. Now you are going to use 200 words
– List the people that will work with you; their skills, expertise, track record and trainings they have to help your business.
– For a pure water business you should have chemical engineers and marketers among your team members
– For a school business, you must have people with education certificate among your team.
– What training do they have that complement your own skills and their relevance?
7. State any management experience you have gained, outlining areas of responsibility.
– Please write your CV and outline your responsibility that shows that you have experience in the business.
I have over 10 years of experience in teaching. I taught in Government College Abeokuta where I managed over 250 students. I have NCE Certificate from college of education Abeokuta. I have passion for teaching and compassion for children.
To get the remaining of the explanation and sample answers that have won YouWiN before and a Life Sample of YouWiN 3 stage 2 business plan .