YOUWIN stand for Youth Enterprise with Innovation In
Nigeria. The Youth Enterprise with Innovation in Nigeria (You WiN!) Programme
is a collaboration of the Ministry of Finance, the Ministry of Communication
Technology (CT), the Ministry of Youth Development and the Ministry of Women
Affairs and Social Development that will launch an annual Business Plan
Competition (BPC) for aspiring young entrepreneurs in Nigeria, in line with the
Federal Government’s drive to create more jobs for Nigerians. The programme
will be implemented in partnership with Nigeria’s private sector, who will be
requested to provide funding support. Winners will be selected from a large
pool of applicants and they will be trained and thereafter write a second
business plan. Final winners will be given grants between N1million to 10
million (FREE).
Do you have a business idea in mind and don’t know how to
bring it to reality then YouWiN is for you. We would take a look at some basic
tips necessary to boost your chance of landing the award. First of all, let’s take
a look at the testimony of a past winner posted on nairaland.
I won in the maiden edition of YouWiN.
My Business plan was on Information and Communications
Technology. I do business in Port Harcourt. In our own time, there were 2
stages, the first stage was where they asked us general questions about the
kind of business you are doing/want to do. I told them that it was a Sole
Proprietorship business that I had been running for about 3 years before that
time. I explained that the business was growing but seriously needed funding
(as the banks were not helping at all). I told them that I was deeply committed
to doing this business. I explained the 4 branches where I expected to reap 'better'
money if they helped me with more funding viz:
Internet
Service Provision
IT Training
Cloud
Computing
Web/Application
Development
I made them realize that I was already making profits in the
business as at then, but was not satisfied with the level of profit; therefore
I needed more money to delve into the areas I listed above. On the management
of my business, I told them that I was the most active person running the
business and employed just 2 other people (Actually, this was true). As at that
time, I had 2 young people (boy and girl) doing Internship with me. They had
just left Secondary School. I did not have to pay them much, but they were
happy. Since my business was based on providing services, I did not offer any
off-the-shelf products.
One question they asked was the things that mitigate my
business and I told them that Funding was part of the problem. Another problem is Steady Power Supply in
Naija. If you are into ICT, you should know how Power affects our business. There
were some other questions they asked us sha, but I cannot remember them all.
2 weeks after submitting, they told me that I had passed the
1st stage and was qualified to go to Benin, Edo State for training. At the
training, I was allowed to sell my idea to a gathering of over 600 people. I
think they liked my business idea. Mehn, they taught us a lot of things o. After
the training, we were asked to then submit a holistic plan for the Business
(Cash-Flow Projection, Balance Sheet, Income Statement, Demographic Analysis,
etc). They offered me 10M sha.
To the best of my knowledge and based on people that have
won it in the past. I can tell that the YouWiN program is to a large extent,
free and fair. Just take some time out, register on youwin.org.ng and follow
the steps outlined. You might just be the one to land that cash award.
Tips to Guide you through
Tip 1: Quota applies and you should be aware that competitions
in densely populated state are more than less populated state.
Tip 2: Be 100% positive: Have the “Yes, it will work mindset”
rather than the “Yes, it might work mindset”.
Tip 3: Be prepared: Ensure you have gotten all necessary
information to make this idea succeed.
Tip 4: Clearly identify your goals and future projection,
the target market for your product or service.
Tip 5: Idea must be novel (originality) or an improvement on
the current state of that business. You should distinguish what differentiates you
from your competitors.
Tip 6: Be original with your idea
Tip 7: Copy out the question, answer them online and then
copy and paste from your PC.
Tip 7: Carry out a thorough SWOT analysis. Would help you
give appropriate answer to each question.
Tip 8: An existing platform, no matter how small would give
you an edge. Even if you haven’t started the business yet, highlight the little
experience you have acquired that makes you certain you can make the idea
succeed.
