Top 50 Ideas to Writing and Presenting a Winning Business Plan and Video Pitching Guide for TEF $5000 Grant Application 2023 (FREE Guide)
Crafting an Irresistible Executive Summary: The Key to a Winning Business Plan
Welcome to our comprehensive guide on writing and presenting a winning business plan and video pitching for the 2023 TEF $5000 Grant Application. This guide aims to equip aspiring entrepreneurs like you with the knowledge and strategies to create an outstanding grant application that stands out to the reviewers. Whether you are a seasoned entrepreneur or just starting, these 50 ideas will help you articulate your vision, plan, and pitch effectively.
All these ideas have been put together following the Business plan Guide template given by the Tony Elumelu Foundation to write the business plan for the $5000 competition.
You can click on this link to download the Free Guide _________
HERE ARE THE 50 IDEAS TO WRITING AND PRESENTING A WINNING BUSINESS PLAN AND VIDEO PITCHING.
- Work on Your Mindset – Ensure you have a positive mind towards this grant and the fact that you will win it. No matter how many times your ideas have been rejected before, this time around try it from a different angle.
- Ideas Rule the World– Your business concept must be very unique and it must transform your Industry. It must not be a common idea.
- Research the Problem You Solve– The depth of your research will communicate how well you will solve the problem. You must support your research with facts and figures and why this problem needs to be solved.
- Communicate your solution in a clear way – This is usually a challenge for a lot of people. There are ways to communicate. You need to be able to communicate in a clear way, so that the person marking your business plan can understand what you are selling and your business model.
- Cover page- Ensure you follow all the guide TEF has given you here and mark yourself if you pass. Your LOGO is very important.
A seen on TEF Guide
The Cover Page
You must provide a cover pagefor your business plan which outlines your name,your business name, business contacts [address, phone numbers, email address and website (if you have one)]and a business logo (if you have one). You are also encouraged to include a brand slogan for your business if you have formulated one.[DELETE RED TEXT AFTER FILLING PAGE]
Top 50 Ideas to Writing and Presenting a Winning Business Plan and Video Pitching Guide for TEF $5000 Grant Application 2023 (FREE Guide)
- Have a website –This is a tool to showcase your business. If your business is at the idea level, but you have a website for it, it is a very good added advantage. Your website is important not just for this TEF grant, but every other grant you want to be applying to.
- CAC Registration (Business Name) – You need this and if you have it, gladly write about it in your business and you can put the reg No on the front page.
- Executive Summary –You write this usually after you are done writing business plan. Follow all the guide that TEF has given you for this session. It should cover every session as Emphasis
A seen on TEF Guide
Executive Summary
This is a summary (or a snap shot) of all the contents of the plan. It should be written in such a way that anyone reading it would have seen the core or essence of the plan. The Executive summary should cover every section from Introduction to the Milestones. [DELETE RED TEXT AFTER FILLING SECTION]
- Introduction – This aspect, you need to follow their guide and present it in a story telling format.
A seen on TEF Guide
Introduction
Overview:
Describe the business. State the stage of the business:
Research and development stage, or
Market entry stage, or
Growth stage
If already existing [growth stage], describe the current operations. State the progress so far made and what has spurred you into taking the next steps for which you are writing this business plan. [DELETE RED TEXT AFTER FILLING SECTION]
- Vision Statement – In this aspect, you need to follow their guide and ensure that the vision statement is inspiring. Nobody wants to read boring statements.
A seen on TEF Guide
Vision Statement:
This is a statement of what you want your company to become eventually, such as one of the top 5 in the industry, or the most preferred for the service. You may state the time frame for attaining the vision. The vision must be inspiring to drive you to higher and higher performance in the business. [DELETE RED TEXT AFTER FILLING SECTION]
- Mission Statement –This aspect, you need to follow their guide and ensure it covers all that they mention and make it a brilliant mission statement.
A seen on TEF Guide
Mission statement:
This is simply the statement of the purpose for which the business is set up and is trying to achieve, its reason for existing that indicates the problem the company’s product will solve and the market niche. [DELETE RED TEXT AFTER FILLING SECTION]
- Objectives- This aspect, follow their guide and come up with at least 5 objectives for your business. Think very well to ensure what you write is a product of deep thought and it is achievable.
A seen on TEF Guide
Objectives:
This is a statement of what you want to achieve with the business itself over a defined period. It could be to:
- Establishing your product/service in the market
- Grow the business to a specific size
- Increase market share
- Increase profitability to a certain level
- Be a preferred brand
Most importantly, your business objectives must be SMART:
Specific–target a specific area for improvement or initiation.
Measurable–quantify or at least suggest an indicator of progress.
Attainable–specify who will do it.
Realistic–state what results can realistically be achieved, given available resources.
Time bound–specify when the result(s) will be achieved.
[DELETE RED TEXT AFTER FILLING SECTION]
- Value proposition– Follow their guide and craft something very unique for your business, in such a way that anybody reading will agree that the proposition is valuable.
A seen on TEF Guide
The Value Proposition:
This is a promise of value to be delivered and acknowledged. It is what gives the target market an expectation of what benefits will be delivered and experienced from the product or service. It could be:
It could be reduction in time
Reduction in cost
Enhancement of health
It could be enhancement of efficiency in the customers’ business or life, etc.
[DELETE RED TEXT AFTER FILLING SECTION]
- The products /Services– Follow their guide. Ensure you put pictures where necessary, price, and any form of categorization you have for your business. Most importantly communicate clearly what you are selling.
A seen on TEF Guide
The Product/Service:
Describe the product and/or service you are producing or you will produce to deliver the value proposed to customers. Include illustrations if necessary. [DELETE RED TEXT AFTER FILLING SECTION]
- Industry and Market Analysis– Follow the guide and approach their guide as marking scheme thrust me, they are going to mark everything they stated in their guide
You can get the rest by downloading the Free guide here
FREE DOWNLOAD 50 Ideas to Writing and Presenting a Winning Business Plan and Video Pitching for 2023 TEF $5000 Grant Application
Top 50 Ideas to Writing and Presenting a Winning Business Plan and Video Pitching Guide for TEF $5000 Grant Application 2023 (FREE Guide)
Generally, you need to take note of the following.
- Understanding the TEF $5000 Grant Application: Before diving into the details, get familiar with the TEF $5000 Grant’s requirements, objectives, and evaluation criteria. Dayo Adetiloye Business Hub can help you tailor your Business plan application to meet the specific expectations of the grant.
- Crafting Your Unique Value Proposition: Clearly define your business’s unique selling points and how it addresses a market need or solves a problem. Communicate the value your business brings to the table concisely.
- Identifying Your Target Market: Conduct thorough market research to identify your target audience, their needs, preferences, and behaviors. Demonstrate a deep understanding of your potential customers.
- Analyzing the Competition: Analyze your competitors to identify your competitive advantage. Showcase how your business differentiates itself in the market.
- Setting Realistic Goals and Milestones: Establish achievable short-term and long-term goals for your business. Lay out specific milestones to measure your progress and success.
- Financial Projections and Budgeting: Prepare detailed financial projections and a well-structured budget. Highlight your financial planning and how the grant will be utilized to achieve your goals. Ensure you use their financial template
- Defining the Team: Introduce your core team members, their roles, and their expertise. Emphasize how your team’s skills complement each other and align with the business’s needs.
- Crafting a Captivating Executive Summary: Create a compelling executive summary that encapsulates the essence of your business plan and entices the reviewers to read further.
- Developing a Clear and Structured Business Plan: Present your business plan in a clear, logical structure. Ensure each section flows seamlessly into the next.
- Storytelling in Your Video Pitch: Use storytelling techniques to engage the audience emotionally in your video pitch. Share your passion and vision for the business.
- Practicing Your Pitch: Practice delivering your pitch confidently and persuasively. Refine your message to be concise and impactful.
- Showcasing Your Product or Service: If applicable, create visuals or demonstrations of your product or service to include in your video pitch.
- Addressing Potential Challenges: Acknowledge potential challenges and risks your business may face. Demonstrate your preparedness to overcome them.
- Creating an Impressive Slide Deck: If permitted, include a visually appealing slide deck to support your video pitch.
- Seeking Feedback and Revisions: Seek feedback from mentors, colleagues, or experts in your industry. Use their insights to improve your business plan and pitch.
In Conclusion, Preparing a winning business plan and video pitch for the 2023 TEF $5000 Grant Application requires dedication, creativity, and a thorough understanding of your business.
By following these 50 ideas and tailoring them to your unique venture, you increase your chances of impressing the reviewers and securing the grant that could propel your business to new heights. Remember, entrepreneurship is a journey of constant learning and growth, and every step you take brings you closer to your dreams.
Best of luck on your entrepreneurial journey!
To Download the 50 ideas for your complete understanding of the business plan and the video Pitching Click here https://www.dayoadetiloye.com/free-download-50-ideas-tef/
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