Centre for Entrepreneurship, Philanthropy & Ethics Heritage - PowerPoint PPT Presentation

Centre for Entrepreneurship, Philanthropy & Ethics Heritage Start Up Challenge Stage 1 April 6, 2018

Introduction • The Need for an Entrepreneurial Climate • It is generally acknowledged that the greatest problem of developing countries is the growing scale of unemployment. • Heritage Christian College is set to contribute to resolving this challenge and help empower individuals set up businesses and employ others to reduce unemployment. • The CEPE is offering HCC Start Up Challenge to members of the HCC community. • We expect a 5 page Business Concept Note at stage 1

Stage 1: The 5 Part Business Plan Outline • A. Executive Summary A. Executive E. Financial • B. Market Research Summary Plan • C. Strategy and tactics D. B. Market Management Research Description • D. Management Description C. Strategy and Tactics • E. Financial plan

Why the Business Plan A. Executive E. Financial Summary Plan • A business plan provides a general sense of your business, D. B. Market Management the target market you plan to serve, how you will make Research Description money and why you have a winning a business. C. Strategy and Tactics • To provide that clarity about your business, you will need to be: • Concise and specific about the necessary details of your business. • Clear about your target market and the competition • Clear about how the business covers its costs and makes a profit • Clarity helps you update the plan in the face of new information.

Outline of the Business Plan A. Executive E. Financial Plan Summary • B. Market Research D. Management B. Market Description Research 1. Industry/sector and problem-opportunity mapping C. Strategy 2. Target segment: Who you are solving the problem for and Tactics 3. Value proposition, products or services offering 4. How the external environment (PEST) supports your value proposition 5. Market Sizing 6. Pricing strategy 7. Competitor analysis (Competitive advantages of your model)

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Outline of the Business Plan A. Executive E. Financial Plan Summary • B. Market Research D. Management B. Market 1. Industry/sector and problem-opportunity mapping Description Research C. Strategy and Tactics Note Choosing the right industry or sector can be the difference between success and failure in business. Which industries or sectors have the best opportunities for you? Which industries or sectors are you most suited for?

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Outline of the Business Plan A. Executive E. Financial Plan Summary • B. Market Research D. Management B. Market 1. Industry/sector and problem-opportunity mapping Description Research C. Strategy and Tactics • Top 10 Small Business Investment Opportunities in Ghana • 1. Waste management • 2. Herbal medicine • 3. Agriculture and farming • 4. Oil and gas • 5. ICT • 6. Food production • 7. Transport services Can you see opportunities for • 8. Real Estate business? • 9. Microfinance • 10. Tourism Source: http://www.mytopbusinessideas.com/ghana/ Various analysts develop lists of a variety of areas they deem to be of investment interest. Do you also see these opportunit

Outline of the Business Plan A. Executive E. Financial Plan Summary • B. Market Research D. Management B. Market 1. Industry/sector and problem-opportunity mapping Description Research C. Strategy and Tactics WORLD PRIORITY DEVELOPMENT PROBLEM AREAS Agriculture Transportation Fisheries Education Energy Waste Mgt Financial Inclusion Agriculture Can you see opportunities for Health Climate business? Conflict http://www.worldbank.org/en/topic Priority areas often present opportunities for private sector participation as public institutions seek private partnersh for implementation of public programs. Do you see these opportunities?

Outline of the Business Plan A. Executive E. Financial Plan Summary • B. Market Research D. Management B. Market 1. Industry/sector and problem-opportunity mapping Description Research C. Strategy and Tactics GOVT OF GHANA PRIORITY DEVELOPMENT AREAS Planting for Transportation Food & Jobs Agriculture National Sanitation Railway Education One Campaign Waste Village Energy Mgt One Dam NEIP Agriculture One District Health Can you see opportunities for Nation Builders Corps One Factory Teach Ghana business? Feed Ghana Services Clean Ghana Revenue Ghana These programs often create an enabling environment Do you see these opportunities?

Understanding Problems 12

Outline of the Business Plan • B. Market Research A. Executive E. Financial Plan Summary 1. Industry/sector and problem-opportunity mapping D. Management B. Market Description Research Some tools for understanding problems in order to reveal opportunities C. Strategy and Tactics Use this framework to map your chosen problem space The Fishbone Diagram Notes: The Fishbone diagram is a visualization tool for categorizing Example the potential causes of a problem in Solution: A mobile phone service order to identify its root causes . Problem: Lack of phone access Cause: Lack of incomes Sub-causes: Lack of skills acquisition, Lack of jobs etc  this needs to be considered in the model, somewhat

Outline of the Business Plan A. Executive E. Financial Plan Summary • B. Market Research D. Management B. Market Description Research 1. Industry/sector and problem-opportunity mapping C. Strategy 2. Target segment: Who you are solving the problem for and Tactics 3. Value proposition, products or services offering 4. How the external environment (PEST) supports your value proposition 5. Market Sizing 6. Pricing strategy 7. Competitor analysis (Competitive advantages of your model)

Outline of the Business Plan A. Executive E. Financial Plan Summary • B. Market Research D. Management B. Market • 2. Target segment: Who you are solving the problem for Description Research Note C. Strategy and Tactics When you have identified an opportunity area for business, you need to be clear on who represents the target segment that you are solving the problem for in order to: i. Ensure that there is an actual user who needs your solution ii. The user represents a target segment that is big enough to deliver sustainable returns to your business

Outline of the Business Plan A. Executive E. Financial Plan Summary • B. Market Research D. Management B. Market • 2. Target segment: Who you are solving the problem for Description Research C. Strategy and Tactics • What do we generally know about the target segment? • What are the characteristics of the users in the target segment? • Demographics • Lifestyle • Pain points • Aspirations • Etc. When you have clarity on the target segment and the users in this segment that you are solving a problem for, it will help you connect more strongly with the target segment in order to serve the users better.

Outline of the Business Plan A. Executive E. Financial Plan Summary • B. Market Research D. Management B. Market Description Research 1. Industry/sector and problem-opportunity mapping C. Strategy 2. Target segment: Who you are solving the problem for and Tactics 3. Value proposition, products or services offering 4. How the external environment (PEST) supports your value proposition 5. Market Sizing 6. Pricing strategy 7. Competitor analysis (competitive advantages of your model)

Outline of the Business Plan A. Executive E. Financial Plan Summary • B. Market Research D. Management B. Market • 3. Value proposition, products or services offering Description Research C. Strategy and Tactics • What value proposition(s) are you drawing from the opportunity areas identified for the user representing the target segment you want to serve ?

Outline of the Business Plan A. Executive E. Financial Plan Summary • B. Market Research D. Management B. Market • 3. Value proposition, products or services offering Description Research C. Strategy and Tactics Value Proposition Statement – Koko King Example • Suggested example for Koko King: To provide well-packaged indigenous breakfast options to professionals Product or Service Offering (what are you offering?/what does the solution do?) – example • Indigenous porridge to your office • Complementary healthy local bun – bread roll, koose • Auspicious packaging

Outline of the Business Plan A. Executive E. Financial Plan Summary • B. Market Research D. Management B. Market • 3. Value proposition, products or services offering Description Research C. Strategy and Tactics Some considerations as you create a SOCIAL value proposition For Social Entrepreneurs Social entrepreneurs are individuals with innovative solutions to society’s most pressing social problems, often with a “mission first, profit second” attitude. http://abroadship.org/wp-content/uploads/2016/11/20161123socialinnovationandentrepreneurship.jpg