17 Steps to Prepare to Write Tony Elumelu Grant Business Plan
May 08, 2022 9:13 pm
Hello ,
My Dear Millionaire Friend,
What is a business plan?
A business plan is a document that helps you clarify your thought on starting, growing or expanding your business. According to investopedia.com
A business plan is a document that defines in detail a company's objectives and how it plans to achieve its goals. A business plan lays out a written roadmap for the firm from marketing, financial, and operational standpoints. Both startups and established companies use business plans.
A business plan is an important document aimed at a company's external and internal audiences. For instance, a business plan is used to attract investment before a company has established a proven track record. It can also help to secure lending from financial institutions.
Since we all know that the business plan stage of Tony Elumelu Foundation Grant is a sensitive stage and this stage will separate the men from the boys. In 2021 edition, according to statistics released from the foundation, 69,016 submitted business plan and 15,007 were selected to move to the next stage. If we put it in percentages, it will be 21.7%. Also, according to the same statistics, 4,949 we selected as final winners after the 15,007 submitted their Video pitching. Check this website for my guide on video Pitching to finally win the TEF $5000 grant.
Let’s go straight to the main topic of this article
17 Steps to Prepare to Write Tony Elumelu Grant Business Plan and Pass the Business Plan Stage [Comprehensive Guide]
1. Your business idea must meet the following criteria:
- Feasibility of the business idea.
- Market opportunity: the entrepreneur must have a good knowledge of the market, customers/clients and competitors for the business idea.
- Financial understanding of the necessary requirement of running the business, including costs and revenue.
- Scalability: the business idea must be able to create jobs and wealth on the continent.
- Leadership potential: The business must have the potential to attract people, customers and resources.
2. Illegal or unethical Businesses or Business Ideas will not be selected. Here are 117 ideas you can select from
3. Your business must be a business idea or an early-stage company, in the range of 0 to 5 years old.If your business plan reveals that your business is more than 5 years old, that is automatic disqualification.
4. Your business idea must be unique with a very unique innovation.If your business is going to be run like any other business without a unique innovation, you will not be selected. E.g You want to do poultry business and you have no idea of how yours will be different from others, it will not fly. Your innovation can be in marketing, operations, feeding, infusion of technology, technical components, or final product design etc.
5. Your business plan must showcase the understanding of the 12 weeks online training.You must demonstrate that you passed through the online training in your business plan.
6. TEF has her Business plan format and you are to follow it strictly. If you have already written a business plan, you can use it to answer the Business plan format of the TEF.
Click here to complete the 17 steps here https://www.dayoadetiloye.com/tef-business-plan-guide/
Have you benefited from my Business plan Birthday promo?
Today is the deadline, Click here for it https://www.dayohub.com/birthday-offer/
For enquires call or whatsapp me on 08060779290
Till I hear from you,
Stay Safe,
Keep succeeding!
In 2022
‘‘Monetize! Monetize!! Monetize!!!
If you don’t charge for it, nobody will pay for it.
Monetize your Skills, Talents, Gifts, Expertise, Experience and become supper financially successful this year’’
,I will like to hear from you!
Till I hear from you .
Keep succeeding!
For: Dayo Adetiloye Business Hub
Dayo Adetiloye (B.Agric, MBA)-
AUTHOR - CONSULTANT - SPEAKER - ENTREPRENEUR - BUSINESS ANGEL
Helping men to discover, develop, and fulfil their business potential.
…Raising 100 Young Millionaire Entrepreneurs in Five Years… since July 2012
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