YouWin Top Questions & Answers 2017/2018 Session

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YouWin Top Questions & Answers 2017/2018 Session

Get YouWin Top Questions & Answers 2017/2018 Session | How to Answer YouWIN 3 Questions Part2 (YouWIN Business Application) – YouWIN Business Application.

YouWin Top Questions & Answers 2017/2018 Session | How to Answer YouWIN 3 Questions Part2 (YouWIN Business Application) – YouWIN Business Application.

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YouWin Top Questions & Answers 2017/2018 Session

YouWIN Questions

Description

1) Firstly Describe your business (20 Words)

2) Afterward Select your industry-sector

Marketing

3) Firstly What benefits of the product or service enables your business to stand out from your competitors? (50 words)

4) Does this meet a particular need or demand (your competitive advantages, if any)? (50 Words)

5) Name five of your existing or expected top customers, How will you attract these customers to your point of sale? (50 Words)

Management

6) As a matter of fact how many new, full-time (or equivalent) staff will be employed in the business 12 months from receiving the first stage award?

7) In Addition Describe the benefit you and your proposed staff will bring to the business, including: expertise, track record in the Industry and management experience (50 Words)

Product

8) Afterward Name your three largest existing/expected competitors. Which, if any, have a localised presence or distributor network? (50 Words)

9) Furthermore 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 (50 Words)

10) Is there an existing or expected lead time for manufacture, set-up, harvest or breeding? If yes, give estimated lead times for each product? (50 words)

11) Furthermore What risks or challenges might affect the success of your business, including: licences and accreditations (what can stop you from making this business a success)? How will you reduce or mitigate these risks? (50 words)

Profitability

12) First What are your current and expected sales within the next 12 months (units and income) ? If there is any seasonality, please explain. (50 Words)

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13) Seconf What amount of sales, in Naira per month, must you achieve to reach profitability? Amount in Naira, enter numbers only; if none, enter: 0

14) Thirdly When do you expect to achieve this (how many months after receiving your first grant award)?

YouWiN Award

YouWin Top Questions & Answers 2017/2018 Session

15) As a matter of fact How much money (Naira) do you want from YouWiN? (₦10m maximum)

Amount in Naira, enter numbers only; if none, enter: 0

16) Break this figure down into relevant categories. Note: a maximum 40% of the total award is usually allotted to Capital equipment, as the remainder of the award must be sufficient to fund operational expenses of a growing business.

16a) Capital equipment (e.g. machinery, land, building) Amount in Naira, enter numbers only; if none, enter: 0

16b) Operating expenses (e.g. wages, raw materials, stock) Amount in Naira, enter numbers only; if none, enter: 0

16c)Other (e.g. pre-start. set-up costs, accreditation) Amount in Naira, enter numbers only; if none, enter: 0

Financial

17) Firstly What is the minimum equipment cost that is necessary to commence trading or expand your business. Amount in Naira, enter numbers only; if none, enter: 0

18) Furthermore Describe this equipment (30 Words)

19) Also How much money have you already spent on Capital equipment?

Amount in Naira, enter numbers only; if none, enter: 0

20) How much money do you require or expect to need from other sources (i.e.: investors, bank loans, etc) Amount in Naira, enter numbers only; if none, enter: 0

21) State the progress of any loan application (20 Words)

22) Describe any existing finance loans related to the business (20 Words)

23) How much money will you or your family and friends contribute to the business in the next 12 months. Amount in Naira, enter numbers only; if none, enter: 0

24) How much money do you plan to take out of the business personally (average amount per month)? Amount in Naira, enter numbers only; if none, enter: 0

Additional Information

25) Please add any additional information / comments that you feel maybe relevant and useful with this application ( 50 Words)Bottom of Form

Let’s start by answering questions under the first section…

Description

The first question under this section is “describe your business” with 20 words limit.

1) Describe your business (20 Words)

To some people answering this question is quite simple and easy and at the same time it’s very easy to fail.

There are few things to take into consideration when answering this question:

The word limit is 20 and you need to convey the value and selling benefits.

First impression matters

It is highly technical even though is quite simple to answer, but very easy to fail.

You need to be precise and concise.

YouWin Top Questions & Answers 2017/2018 Session

Use your ELEVATOR SPEECH/PITCH.

So to answer this question effectively, I enjoin you to adopt ELEVATOR SPEECH/PITCH approach.

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What is Elevator Speech/Pitch?

As a matter of fact It is a short speech or description you give about your business before the real one. Elevator pitches define your business in terms your prospective investors or customers want to hear.

Imagine if you step into an elevator at the top floor of a building to go down to the lobby. Someone you don’t know steps in with you. You smile, greeting each other. The other person asks what you do. How will you answer? Would it take you much time or would you just beat around the bush?

Of course you can’t beat around the bush because that could be very dangerous or send a very wrong signal to YouWIN that you are clueless.

So how do you answer that question? I want you to know that your marker does not have the whole time to read your stories; therefore you have to sell benefits instead of features.

You start by telling them the benefits your customers would derive from using your products or services. Nobody will buy your products or services if it will not add value or solve their problem and that is exactly what YOUWIN or the person that will mark your proposal is looking for.

YouWin Top Questions & Answers 2017/2018 Session

YouWin Top Questions & Answers 2017/2018 Session

If you cannot put what you do into clear and concise words, how will YouWIN, or rather, potential customers, know what you do?

What to Do: Specialize

Activity: State clearly the kind of service you provide or the products you sell. Be specific.

I don’t mean something like, “We do computer programming and system design.” That hardly gives insight into what you do best. I also don’t mean, “We develop software for database management, systems integration, network management, Windows applications, and other custom applications.” Small businesses that do everything under the sun lose credibility. You need to have focus.

Your Elevator Pitch Should Include:

  1. Firstly The Problem Your Business Solves
  2. Furthermore Who Has the Problem
  3. As a matter of fact How Big the Market for the Solution Is
  4. Your Qualifications to Run this Business
  5. Finally In my success guide, I provide 3 sample answers that you can use.
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WANT TO WRITE BUSINESS PLAN AND ALSO GET GRANT ALERTS?

FREE TIPS THAT WOULD HELP YOU WRITE AN INVESTOR-GRADE BUSINESS PLAN AND FREE GRANT ALERTS

Enter your email to receive alerts on latest funding opportunities.

Materials on how to preparing a bankable business plan and also the financial analysis.

That;s all from here;

Do you Need Us for this reasons?

  1. Top 10 Online Lending Platforms for Small Business Loans in Nigeria.
  2. Difference Between a Business Plan and a Business Proposal
  3. Standard/Bankable Palm Oil Business Plan With 3-Years Financial Analysis.

YouWin Top Questions & Answers 2017/2018 Session

YouWin Top Questions & Answers 2017/2018 Session

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Popular Categories

  • Firstly Empowerment Programmes103
  • Furthermore Business Competition94
  • Above all Business Grants77
  • Prizes and Awards29
  • Business Opportunities24
  • Presently Fellowship Programme24
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  • Start-ups Accelerator/Incubator18
  • Business Tips17
  • Lastly Standard Business Plans
  1. Difference Between a Business Plan and a Business Proposal
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YouWin Top Questions & Answers 2017/2018 Session

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POPULAR CATEGORY

  • Firstly Empowerment Programmes103
  • Afterward – Business Competition94
  • Furthermore – Business Grants77
  • Presently – Prizes and Awards29
  • Business Opportunities24
  • Above all – Fellowship Programme24
  • Funding Opportunities24
  • Lastly – Start-ups Accelerator/Incubator18

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