youwin 7 little mistakes to avoid for youwin youth enterprise awards nigeria 2015
Post on 16-Jul-2015
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7 little mistakes to
Avoid for youth
enterprise awards
Nigeria 2015
,2016,2017
The youth innovation
enterprise scheme
2015 (youwin )has
begun and the
There are some
mistakes that would be
youwin application
candidates tend to
make. I have dedicated
this article to help you
know them and avoid
them.
Remember that a little
mistake can mean you
have to wait for
another 12 months or a
new cycle each year.
The wise will increase
in learning and take
note of them.
Let us begin .here are
the mistakes you need
to avoid if you need the
INVESTORS to take you
seriously.
Don’t Rush to
submit So many things are responsible
for this .now let me address
them
1. You’ve never heard
of the youwin
competition before
2. You were not ready
before the closing
date
3. You have no
business idea at hand
but you have to
submit one
4. You do not know to
plan a business
5. You cannot read
and write properly
So these are some of
the things that could
cause these mistakes.
Now let us see how we can
deal with them one after the
other.
Again, the award
scheme will be
closing on ending of
January 2015 or
February 2015,2016
or 2017.
however, for the next four
years, the closing date will
most likely be the same. I will
keep this article updated if
there is a change. So the
closing dates are ending of
January or early February
2015, 2016 and 2017.
The third point is the
business you want to
begin with. I have
really covered this is
my article on how to
being a small
business and planning
a business idea.
Lastly, if you cannot
write properly, this is
not so much of a
problem.
You should get
someone who can
write very well. A
good student from
the university will be
able to help out.
Check for errors
Errors are common .
there is no business
plan without errors.
Error should be at a
minimal.
Reduce it. Correct it.
Some errors are not forgivable.
Financial errors can cost you
this awards. You do not want to
make mistakes when
calculating the financial
projections. Read and re-read
your business plan.
Check for any error and correct them. Put yourself
in the shoes of the panel.
If you are among the youwin
panel and you have to read
over a thousand business plan,
Will you take time to correct
errors wherever it’s found? I
bet it NO for the answer. You
will throw the application
away.
Same goes for others.
Give them the correct
figures
Don’t mix things up . Don’t lie
about the figures. Do you think
there are people who will make
up the figures in their business
plan? Yes many will.
We all might not be so good with accounting but we
cat at least be honest. Tell us the real cost of an
office space.
Tell us how much a generator will cost
Tell us how much profit you are estimating (give the
lowest expectation here)
Tell us you went to find out about the prices and
how
Be honest about what you are submitting
Someone should never write for you
Some people thought that this is an examination
where no one is watching you. Its not. Allow people
to teach you and guide you
Yes I say teach and guide
Do not allow someone to write your business plan.
You do not want to risk your name before the
interview panel. Read more about this here
Don’t give up
Some people try and fail and then give up. It’s a
mistake. It means you are not called to be an
entrepreneur. If you give up then you will give up
when you face challenges in the business.
Click here to continue the reading at
howtogetyouwin.com
Don’t choose a wrong business
Go for something you like. Forget the awards for a
minute. Go for something you like that has these
characteristics
1. It is profitable
2. It is marketable
3. it will grow to employ others
4. you like it and are willing to do it.
This is my acid test. I wrote more about it on
choose the right business idea.
Must my ideas meet all these? YES for it to be a
winner and NO if your idea can meet 3 then its
ok. If your idea meets only two, then start it
without telling anyone. Who knows what it
might become tomorrow. Although I prefer the
four criteria.
Don’t wait for anyone before you begin
I agree that you need money to start a business
from scratch. But don’t wait for anyone or any fund.
Start small. It will be a big mistake to wait . get a
small job , raise a little amount and begin from your
house . whatever you get later will be an addition. I
hope this helps.
Click here to continue
the reading at
howtogetyouwin.com
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