YouWiN! 3 QUESTIONS AND EXPLANATIONS
I can’t say it is a privilege to give you explanation on this YouWiN 3 questions and the answers. Youwin 3 question is technically different from the previous ones but you just need to supply the same answer in a shorter form. In Youwin 2 you can answer the same questions with minimum of 150 words and maximum of 250 words but now everything has been reduced to 50 words.
You could use fewer words but not more than required. In fact, the website will not allow you to save and/or submit your application if you have exceeded the maximum number of words.
In a way, this is both beneficial to you and the committee. You are forced to summarize your business idea as much as possible; and the committee is able to evaluate all business concepts in the shortest time available to decide winners.
When writing your plan, make it simple and easy to comprehend. This is because you are not going to be present at the first panel that will review it. It is just like you submitting your CV for Job pursuit.
I advise you don’t just rush to submit your application.
The answers for some of the key questions are very short. Just 50 words and you need to give facts and figures and not story, but how to do that becomes a problem. That is the reason why this book called Grant Winning Workbook is in your hands now.
Don’t rush to summit your plan, once you are through with it, give it to one or two professionals to help you screen and review your business plan before you submit.
You will win this award not because you are the 1st to submit but because you write a good, unique, innovative and irresistible business plan.
The people that will mark this competition are looking for specific things in your business plan. If they find it, you will enter the next stage. If not, you are out of the competition irrespective of your industry. All these things are what we will discuss here.
I will explain this YouWiN! 3 questions to you based on my experience of writing it since YouWiN! 1 through YouWiN! 2 where we raised 4 millionaire winners and now YouWiN! 3. Our target for YouWiN! 3 is to raise 100 millionaire winners.
Let me give you this hint, the question we are about to explain is a summary of YouWiN! 2 stage 2 business plan. This is more technical.
We all learnt this skill of writing which has made our academy to raise 4 millionaires in YouWiN! 2. I believe you too can learn from this Grant Winning Workbook.
After the explanation, you will see a sample that you can use to write for any industry you want to explore.
No1 rule: You must be very vast in your area of business if you will write this business plan well.
No2 rule: You must strictly adhere to the number of words you are told to use.
I advise you copy the questions into Microsoft word and answer it in word format and do copy and paste online and submit.
The first question you need to answer is to describe your business and to select what industry sector your business belongs.
Describe your business
ANSWER: Tell us if it is a new business or existing business.
e.g . 1. My business is poultry business. It is an existing business.
2. My business is information technology consultancy business
3. My business is a nursery and primary school and is an existing business
4. ABD Baking is a diet bread making business. It is a new business to provide loaves for people on diet.
5. My business is a block making business and it is a new business
Words used: 0/20
Select your industry-sector
Select Industry sector from drop down menu
If your sector is not listed, you could write your sector under “Other Sector”
2. Marketing Plan
Here, there are 3 questions each of which allows a maximum of 50 words:
-What benefits of the product or service enables your business to stand out from your competitors?
ANSWER:You need to tell us your product and services, the benefits, and what makes it better than your competitors. Find more details on this on the sample plan below.
-Does this meet a particular need or demand (your competitive advantages, if any)?
ANSWER:Tell us the problem you are solving with your business. Why do people want to buy from you?
-Name five of your existing or expected top customers. How will you attract these customers to your point of sale?
ANSWER:You must tell us real customer that will patronize you and give us ways you will reach out to them.
Different industries have their own peculiarity of how to market their products and services. That is why you must understand your industry.
3. Business Management
The main aim of this competition is to create jobs in Nigeria. So, your business must be capable of providing sustainable jobs in order to win this competition. Most of the current YouWiN awardees own businesses that are employing close to 10 new employees on the average. You should factor this into your overall business plan.
The questions here are:
-How many new, full-time (or equivalent) staff will be employed in the business 12 months from receiving the first stage award?
ANSWER:If your business can only employ you alone, then you are on your own. It is obvious you cannot enter the next stage.
Numbers between 10 and 15 is ok. But make sure is realistic.
-Describe the benefit you and your proposed staff will bring to the business, including: expertise, track record in the industry and management experience. [maximum of 50 words expected]
ANSWER:You need to tell us how many years of experience you have in your field of business.
Note this; if you don’t have any experience in your chosen business, you may not entre the second stage. I will prefer to give my money to somebody with experience than somebody with no experience.
Tell us the qualification and experience of proposed people that will work with you if you win.
You must not exceed 50 words, hope you remember. Summary is the key word here!
4. Your Product
This section will test your knowledge of the business you are proposing. Each of the questions asked below require a maximum of 50 words. Bear in mind that every business is either selling a product or providing a service.
-Name your three largest existing/expected competitors. Which, if any, have a localized presence or distributor network?
ANSWER:You have to tell us real businesses in your location of your business that will compete with you. You will notice that both existing business and new business are filling the same question. It is the way you answer it that shows the difference.
Tell us the number of years they have existed, if they have a large or small distributor network.
-Describe the materials you will need to create your product or service. Are these materials readily available, at the right price and quantity, in your locality? If yes, please describe any relevant information.
ANSWER:Here, you tell us the various materials you will need to produce your product and service. That is the reason why you must have industry knowledge.
If you don’t know the materials, you need to go and research. That is why the Solomon of our time exist, the google search engine. Just type what you want to know about and in few minutes you have it right in your front.
Also tell us where you can get the materials, if it is available locally or it is going to be imported.
At this junction I will encourage you to get our GRANT WINNING WORKBOOK where you will get the full details of this YouWiN! 3 Business Plan Questions, Explanation, and Live sample.
To talk to an expert on how to write your YouWiN! 3 business plan competition, Call me on: 08105636015, 08076359735 or Send me an email at: email@example.com .