Showing posts with label Business. Show all posts
Showing posts with label Business. Show all posts

Friday, 28 July 2023

THE RACONTEUR: THE DON'TS OF BUSINESS PITCHING. MY ENTREPRENEURSHIP JOURNEY ~ SERIES 1 ~ EPISODE 1

A day to New Year Eve, I received the most pleasant news that my application was selected as one of the top 20 finalists of the IDEA Initiative Africa Program and I was invited to participate in a 3-day bootcamp training which took place from 3rd January 2023 and later, I pitched in front of the jury panel on the 5th January 2023. 

The Innovations selected from various countries in Africa were those that are addressing some of the most pertinent sexual and reproductive health issues in Africa. The modules of the bootcamp training included: engaging with and using a Human Centred Design (HCD) approach for idea generation and development; engaging with the business model canvas/lean canvas to help the innovators clarify and communicate their business idea effectively to potential partners, investors and customers; and building a community of actors that could be problem solvers in the SRH ecosystem

My business, Dignify Her - Caryle Enterprises, perfectly aligned to the objectives of IDEA Initiative Africa Program, and I was excited to participate in the bootcamp training. Dignify Her - Caryle Enterprises is a waste-to-value initiative that applies circular pathways to try and get the most value of the resources we have by keeping them at their highest utility, for as long as we can. We are addressing period poverty of adolescent girls by providing easy access to affordable, hygienic, and environmentally-friendly reusable sanitary pads made from textile waste, so that they can go through their monthly menstrual cycle with dignity towards a successful retention, transition and completion of their education. By recycling textile waste, we are helping in the reduction of greenhouse gas emission towards climate adaptation and mitigation.

~My Pain~

Unfortunately, I was not selected to receive the grant after the pitch competition. Lessons learnt after a thorough introspection, are as follows:

√ It was my first time to pitch in front of a panel of judges. Therefore, my pitching skill was raw and blunt.

√ I was not ready for the pitching. I remember preparing my slides for the better part of the night, leaving no room for rehearsal prior to presentation. 

√ My PowerPoint looked like a word processing document, too wordy and very ambiguous with little clarity on finer points that I needed to drive home. 

√ During the presentation, I was edgy and nervous despite the fact that the pitching was virtual – I simply did not bring my A-game to the pitching. 

√ I failed to respect the time allocated for pitching. One of the judges reminding me that I had 2 minutes left when I was not even halfway in my presentation threw me off guard completely and I panicked, I can’t remember what else I said after that. 

√ My team composition and capabilities did not inspire confidence and one of the judges was worried that my proposition to outsource too many services was simply impractical.

√ My competition analysis and the differentiation strategies that could bring out my Unique Value Proposition was not convincing enough.

√ My “ask” was exaggerated and unrealistic with little proof about my Enterprises’ capacity to manage such colossal amount, neither could I justify the impact for such an investment.

√ Of all the days, my internet became unstable and at some point, during the presentation, I lost connection.

At the end of my presentation that took close to 6 minutes, I knew it was a lost endeavour. However, it was not the end of it all. I was not going to abandon my creative idea at the first whisper of rejection. I intended to persist long enough to give it a fair try at survival. 

~My Gains~

Even as I clapped for the selected 3 winners amongst us, I and the other participants were winners too in the context that we got an opportunity to participate in this program. In my current profession as a capacity building trainer and a facilitator on women empowerment, I treat every training that I participate in as Training of Trainers (TOT), because it gives me an opportunity to learn, unlearn, and relearn; a chance to up-skill, de-skill, and re-skill. Therefore, I always commit myself 100% to the programs. Because the commitment is the spark that ignites the fire, commitment is the key that starts the engine, commitment is my business and my business is commitment.

I didn’t leave empty-handed at the end of this program. I acquired new knowledge, skills and attitude specifically on:

√ Co-creation and co-design space to fine-tune great sustainable ideas for the most pertinent sexual and reproductive health challenges. 

√ Value Chain Mapping & Human-Centred Design - Empathize-Define-Ideation-Prototyping-Testing-Implementation.

√ Business Model Canvas – I learnt how to categorize the building blocks of a business into Desirability (heart), Feasibility (engine), and Viability (money), for a deeper understanding WHY I’m in business.

√ Pitching best practices – Innovation, Scalability, Financial Sustainability, Team Composition, and Impact.

This initial pitching was the door that opened several pitching opportunities, leading to some successful ones that I will be talking about in the coming Episodes of this Series. Someone once said “failure is an opportunity to start again with more wisdom!”

From this program, I have gained a network of nontraditional SRH actors including but not limited to entrepreneurs, tech, media and communications, and creatives that are creating and innovating ideas into solutions for the sexual and reproductive health and rights challenges in Kenya and Africa. I am part of an interactive WhatsApp platform where we share and exchange SRH ideas and opportunities. I want to thank IDEA Initiative Africa, Billinow, and Nailab for accelerating my journey to become a better social entrepreneur as well as a capacity building consultant on women empowerment.


Monday, 2 May 2022

WRITING YOUR BUSINESS PLAN: 6 STEPS TO DEVELOP A VALUES STATEMENT FOR YOUR BUSINESS

A values statement is a set of beliefs and principles to guide your company’s activities. 

Clearly stated values can help your company react quickly and decisively when the unexpected strikes. 

You may not have the luxury of spending weeks or months to develop a values statement, so we show you a quick way to create one to set your company on the right track. 

Follow these steps: 

1. Select three or four representative groups of employees, including a mix of people from all levels and functions in your company. 

2. Have the groups meet on a rather formal basis over a two-to three-month period to come up with values that should guide the behaviour of every employee in the firm. 

3. Ask group members to create a short list of the values that they think are most important. 

Encourage them to back up this list with their reasons, reminding them that values are often the tiebreakers when it comes to tough management decisions and difficult choices. 

4. Bring the lists together and create a priority ranking of all the values suggested. 

5. Compose a statement, motto, or credo that includes the most significant and widely held values, along with compelling reasons for those values. 

6. Have the groups review and ratify your values statement. 

If your company is small, you can follow the steps yourself or with one or two of your colleagues.




Sunday, 27 February 2022

WRITING YOUR BUSINESS PLAN: 8 QUESTIONS THAT PREPARE YOU TO WRITE A MISSION STATEMENT FOR YOUR BUSINESS

Mission statements come in all shapes and sizes, each reflecting the nature of the company it represents. 

Some mission statements include definitions of company values, what the companies do, or descriptions of the customers the companies plan to serve. 

The 8 questions that you need to answer when writing a mission statement for your business are: 

1. What exactly do we do? 

2. What products and services do we offer? 

3. Who is our ideal customer? 

4. What customer needs do we meet, and what benefits do we provide? 

5. What markets and geographic areas do we serve? 

6. What sets us apart from our competition? 

7. What’s the best thing a satisfied customer can say about us? 

8. What gets us most excited about the company’s future? 

After answering basic questions about your business and evaluating how your answers relate to one another, you’re ready to transform your ideas into a mission statement. 

Remember that:

As you describe who you are, what you do, and what sets you apart, try to make your mission statement as short and sweet as possible. 

Use plain language so that your mission statement can be understood by everyone. 

Make your mission statement very specific with messaging that has a strong sense of conviction and commitment.

Stick to simple, straightforward explanations. 




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