On Saturday the 9th of February 2018, GAICAM organized and hosted its second activity of the year, geared towards Entrepreneurship and Business plan development skills. The workshop, just like the YALI Learns Event, took place at the GAICAM Head Office with a total of 26 participants in attendance, drawn from different towns and cities of Cameroon such as Kumba, Buea, Douala and Limbe. This was a pure business development workshop, which had the following preoccupations:
- To introduce to participants the core concept of Entrepreneurship and how to develop and sustain entrepreneurial ideas.
- To enable participants understand who is an entrepreneur, how they could become entrepreneurs, and the much needed skills in to becoming a seasoned entrepreneur.
- To provide participants with the basis for business feasibility studies and its importance in business plan development.
- To train and equip participants with tangible skills, and step-by-step knowledge on how they can develop a winning business plan for their business ideas.
The program started at exactly 8:30am prompt with a network session, with participants networking among themselves, gaining acquaintance for better cooperation. During this period, participants exchanged contacts and shared ideas on how to improve business ideas as well as strategize for growth. After the networking session came the program proper where the trainer Mr TAMINANG Search, commenced with the main agenda of the day, drawn from one of his books titled “The Password to Entrepreneurship”.
He started the first session with a look into the concept of entrepreneurship. During this session, his training on entrepreneurship was focused on; who is an entrepreneur? What does it take to become an entrepreneur? Who can become an entrepreneur? and many more. This session was very practical as each of the participants had to, before their peers (fellow participants); share their various Business ideas, challenges faced and their growth level. Each business idea was immediately in specific term given a practical guide by the trainer on how the concept can be improved upon or scaled. The methodology of the training in this workshop, yielded a lot of satisfaction as you could even find participants excited, while sharing with their peers their satisfaction and understanding during the course of the training, especially those whose worries were treated. This session was a three hour intensive training with lots of practical exercises and more to blend the training.
After the three hours intensive training session, it was time for a coffee break; where the participants had to share in the snacks and coffee prepared for the workshop. During this session, each participant had to relax their nerves, continue to share with their peer the outcome of the first training session. The coffee session lasted for 45 minutes, and the second phase of the training had to take off.
The second session which was focused on how they could effectively write a winning Business plan for their business ideas, resumed immediately after the coffee break session. This was the most important session of the workshop according to the participants, as many who were already in business or those yet to be in business all had the quest to know how they could develop business plans for their businesses. More than ever before, the trainer started with an overview of why a business plan is an indispensable element of every scalable business.
According to the trainer, every good business venture needs a good business plan to map out the growth strategy of the business. He added that in order to better strategize to achieve good business results, business owners must ensure that their business plans are short and precise. He emphasized that they should of think of it as an argument for every point they make.
This session was very practical, especially as the trainer outlines and detailed the various parts of a business plan. Some of which he identified as:
- The table of content; This part of the Business plan according to the trainer serves as an introduction to the plan and summarizes the content of the plan and written in a more persuasive way in order to capture the attention of the reader in just seconds. He added that under the executive summary of the business plan, the business owner should provide in not less than three pages the type of business, its form, product/services offered, cost of startup and others.
- Business description/company summary; This session of the business plan according to the trainer should spell out the name of the company, the proposed mission and objective of the company, should as well provide the structure of the business and the main vision. The part of the plan should be very positive and should endeavor to paint a good image of the business to the investor/ reader.
- The ther parts of the business plan treated were product and service distribution, market distribution, organizational structure and management, risk and opportunity, marketing and sales strategies and others.
It was indeed a great workshop especially as many of the participants left the workshop leaving behind written testimonials, some of which are found on the website of GAICAM.
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