-Inspiring and raising financially empowered females for better homes & community. FREE m anual on how t o apply f or t he Tony Elum elu Ent r epr eneur s pr ogr am - TEEP 2016 Copy right mrsceonaija: not to be sold, copied or used for consulting purposes
OUR TESTIMONIAL MRSCEONAIJA community produced 3 out of the 1,000 TONY ELUMELU FOUNDATION ENTREPRENEURSHIP PROGRAMME (TEEP) winners in 2015!
WHAT IS TEEP? The Tony Elumelu Foundation Entrepreneurship Programme (TEEP) is the flagship entrepreneurship programme of the Tony Elumelu Foundation, founded by the entrepreneur, respected investor and philanthropist Tony O. Elumelu. Started in 2015
WHAT IS TEEP? VISION The vision is to establish the pre-eminent pan-african entrepreneurship programme and create 10,000 startups across Africa within the next 10 years that generate significant employment and wealth. PURPOSE Identify 10,000 African startups and entrepreneurs with ideas that have the potential to succeed Grow the businesses through business skills training, mentoring, access to seed capital funding, information and membership in our Africa-wide alumni network Create businesses that can generate at least 1,000,000 new jobs and contribute at least $10 billion in new annual revenues across Africa Source: http://tonyelumelufoundation.org/teep/
WHAT IS TEEP? 1000 picked every year! For next 10 years. So 10,000 will be selected by the end of 10 th year. Each person gets $10K The Tony Elumelu Foundation Entrepreneurship Programme is open to citizens and legal residents of all 54 African countries. Applications can be made by any for-profit business based in Africa in existence for less than three years, including new business ideas. The application portal is available in English, French and Portuguese and applications will be accepted in these three languages. Deadline is March 1 st 2016.
AGENDA
LOG IN Make sure you have good internet connection Log in to http://tonyelumelufoundation.org/teep/ You ll see a page like this: Click on the apply now button
LOG IN You can either sign up with your social media pages: Facebook or LinkedIn or sign up afresh on the form. If you create a new sign up, remember to write the password somewhere so you don t forget it. Select the language you understand.
Confirm When you sign up, you will be required to confirm your account. Go to your email account to activate the registration e.g your yahoo account or gmail account e.t.c
Confirm Once you activate, you will see a prompt like the one here. Click proceed to login Then log in.
Click to continue
Introduction page You can make changes to your application entries before you submit. After submission, you will not be able to make any modifications to your submission. NOTE THE DOCUMENTS REQUIRED FOR AN OPERATIONAL BUSINESS.. THEN CLICK NEXT
Personal Information Any box with the * is a compulsory question Here, fill your personal data: name, nationality e.t.c. Please, use your official name: not a nickname. You must also attach your form of official ID. E.g drivers license, international passport
Personal Information Any box with the * is a compulsory question Please click SAVE Then next Section
Personal Information Any box with the * is a compulsory question Include an active phone number and email address as you will be contacted through these means Please click SAVE Then next Section
Education details Include you academic records. Use the BLUE + Sign to add your areas of specialization Remember to save, then click the next section
Social media Include the url link to your social media pages.
Section 5 If you have a registered company name, please include the name & details yet. If the business name is not registered, it is still ok. You can use a temporary name.
About you If you have a professional website, include. If not, write n/a. This is not a mandatory item Note: Not more than 200 words. Keep it simple BUT impactful. Draw the reader in. Example: Your name, your most recent accomplishment, your highest educational background, your Marital status/gender, Passion/Philosophy. What led you to be an entrepreneur? Don t talk about just MONEY!!!! Talk about the NEED you crave to meet! The vision! The passion! The bigger purpose! The impact! What is the big picture?
About you What leadership positions have you occupied in a past job? Describe what elements of leadership you are best at? Envisioning/setting direction? Engaging a team? Empowering a team? Leading a team to execute a set goal? Engaging your team? AND Have you ever managed a business? What experience do you have on this?
About you Not more than 100 words. What are you most proud of? Any published articles? Any invention? Any academic achievements? Any business achievements? Any goals you set out for yourself and achieved? What ever it is, it has to be outstanding.
The business Not more than 50 words: Simply put, what is the business idea or business? Example: We are into the business of delivering freshly made meals to working class people at a profit. The business has been in operations since 2012 in lagos, Nigeria with a staff strength of 3. Or The idea is to deliver freshly made meals to working class people at a profit. The business will kick off in Lagos initially but will expand across Nigeria within 1 year. The idea is at the concept stage and business plan has been completed.
The business Not more than 200 words: You can expatiate on the initial question here. Give more details. Examples what kind of organizations will the meals be delivered to? What price? How does the price compare with food they can get nearby? How do you create awareness? How do you deliver? Be precise. What is your point of difference versus competition I.e everyone is doing beauty make overs but yours can still be different. E.g 1. Online ordering? 2. 24 hours service? 3. Dedicated customer service? REMEMBER TO LIST THEM. NO STORIES HERE.
The business Not more than 50 words: Be Super clear on the need! Not your product. Example people didn t need typewriters! They needed the ability to document and communicate. Makers of typewriters didn t realize this. NOW, we have computers and typewriters are dead! IDEA: means its still not in operations but a concept Research & Development: maybe a little minor operation and some research Market entry: you have started operations/entered the market Growth: the business is established with growing sales
The business Select the industry e.g. agriculture, media etc, subsector. Save! Next section
The company All questions here have the red * so compulsory to fill. As usual, remember to save! Then go to the next section. If you have not employees, write 0. Do not leave blank.
Section 7 Not more than 50 words. This is the total sales being made from this idea or business in the country or state. To get this, you can either google existing data or make estimated calculations. E.g total market size for tomatoes in Lagos is 3,000,000 calculated by the households in lagos * about N3,000 spent on tomatoes per home per month (based on qualitative research). How many people need that service/product?
Section 7 Not more than 50 words. What exactly needs to happen for you to get income from this business? Will the product be sold? Do you generate income from corporate sponsors/donations? E.t.c This is your marketing mix. How will you promote your product. Eg. paid advertising on radio, social media- paid or free?, 1:1 marketing at office? Church? Print ads, Outdoor, network marketing, leaflets distribution, instore. Be realistic and TARGETED.
Section 7 LIST! Not elaborate. Mention the names of the TOP 3 companies that offer similar services or products. Mention the ones that you want to source volume from. Who are those doing what you plan to do? Or similar? What stage of the business are you now? E.g I just launched the blog with 10,000 views in 1 month. How is your product/service different/better than those you mentioned above? E.g More affordable but same quality? Faster delivery timings? No side effects? No pollution?
Section 7 Where do you see the business in 6months- 1 year? This must be specific, measurable, actionable and realistic. Not a dream/wish list. Example: I want to reach 100,000 views in 6 months. It will take 6 months because I need to complete E- commerce set up. SAVE! NEXT SECTION
Section 8 Currency is dollars so remember to convert your naira investments to dollars at official $ rate. How much have you invested in the business so far? How much income as the business generated? If this is still an idea, then there is no income so N/A is suitable here. This means at what point will your cost/investment be equal to your revenue. i.e. the revenue required to cover total costs (both fixed and variable). See next page for details
4 units * the unit price of $25= $100 is the break even revenue. i.e you need to sell $100 to Cover the fixed cost on the business and the variable cost of producing each unit. Fixed costs are costs that do not change in the short term and not dependent on production e.g Rent. Variable cost is the direct cost you incur from producing every single unit e.g materials.
Section 8 What is your monthly cost like? Remember to convert to dollars Already explained in previous slide. e.g when I attend to 100 clients a month, when I sell 30 units/ Save! Then click the next section.
Section 9 You have 200 words to sell the vision. How many employees are you taking on? How many people are dependent on them? How is your product improving the lives? Community impact? Economic impact? Mention real challenges. Not just capital. High cost of transportation of goods? Maybe counterfeits? Electricity shortages? How does it affect your business? Coaching, mentoring? Access to training events? Networking? Read all about the TEEP program. Its not just about seed money.
Section 9 Select the business skill needed the most. Options are provided Optional but feel free to recommend a mentor for the program.
Section 10 Select the most relevant option Be honest. If no, explain the reason and how much time you will spend? Maybe 30-40%? E.t.c. SELECT RIGHT ANSWER
Section 10 Include references. Not mandatory but recommended.
Section 10 Be sure your application is 100% complete. Then submit.
SUBMISSION Once you submit, you ll get an email notification.
Extra Tips 7 Practical business idea selection criteria 1.Is there demand for this product/service? 2.Do I have undeniable passion for this venture? 3.Am I knowledgeable? 4.Am I skilled to handle this business?
Extra Tips 7 Practical business idea selection criteria 5. Can I meet the demand of this product? Better than competition 6. Can I make PROFIT doing this business? 7. Do I have a fantastic team or structure in place to ensure business continuity?
REMEMBER DEADLINE IS MARCH 1 ST. START NOW. LOOK FORWARD TO 2016 WINNERS AND REMEMBER TO DROP A COMMENT WHEN YOU WIN! Copy right mrsceonaija: not to be sold, copied or used for consulting purposes
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