7 little mistakes to

Avoid for youth

enterprise awards

Nigeria 2015

,2016,2017

The youth innovation

enterprise scheme

2015 (youwin )has

begun and the

registration should end

anytime soon. The

federal government of

Nigeria has really got

this right.

Now we have winners

in this competition who

have received his ward

since the beginning.

There are some

mistakes that would be

youwin application

candidates tend to

make. I have dedicated

this article to help you

know them and avoid

them.

Remember that a little

mistake can mean you

have to wait for

another 12 months or a

new cycle each year.

The wise will increase

in learning and take

note of them.

Let us begin .here are

the mistakes you need

to avoid if you need the

INVESTORS to take you

seriously.

Don’t Rush to

submit So many things are responsible

for this .now let me address

them

1. You’ve never heard

of the youwin

competition before

2. You were not ready

before the closing

date

3. You have no

business idea at hand

but you have to

submit one

4. You do not know to

plan a business

5. You cannot read

and write properly

So these are some of

the things that could

cause these mistakes.

Now let us see how we can

deal with them one after the

other.

Again, the award

scheme will be

closing on ending of

January 2015 or

February 2015,2016

or 2017.

however, for the next four

years, the closing date will

most likely be the same. I will

keep this article updated if

there is a change. So the

closing dates are ending of

January or early February

2015, 2016 and 2017.

The third point is the

business you want to

begin with. I have

really covered this is

my article on how to

being a small

business and planning

a business idea.

Lastly, if you cannot

write properly, this is

not so much of a

problem.

You should get

someone who can

write very well. A

good student from

the university will be

able to help out.

Check for errors

Errors are common .

there is no business

plan without errors.

Error should be at a

minimal.

Reduce it. Correct it.

Some errors are not forgivable.

Financial errors can cost you

this awards. You do not want to

make mistakes when

calculating the financial

projections. Read and re-read

your business plan.

Check for any error and correct them. Put yourself

in the shoes of the panel.

If you are among the youwin

panel and you have to read

over a thousand business plan,

Will you take time to correct

errors wherever it’s found? I

bet it NO for the answer. You

will throw the application

away.

Same goes for others.

Give them the correct

figures

Don’t mix things up . Don’t lie

about the figures. Do you think

there are people who will make

up the figures in their business

plan? Yes many will.

We all might not be so good with accounting but we

cat at least be honest. Tell us the real cost of an

office space.

Tell us how much a generator will cost

Tell us how much profit you are estimating (give the

lowest expectation here)

Tell us you went to find out about the prices and

how

Be honest about what you are submitting

Someone should never write for you

Some people thought that this is an examination

where no one is watching you. Its not. Allow people

to teach you and guide you

Yes I say teach and guide

Do not allow someone to write your business plan.

You do not want to risk your name before the

interview panel. Read more about this here

Don’t give up

Some people try and fail and then give up. It’s a

mistake. It means you are not called to be an

entrepreneur. If you give up then you will give up

when you face challenges in the business.

Click here to continue the reading at

howtogetyouwin.com

Don’t choose a wrong business

Go for something you like. Forget the awards for a

minute. Go for something you like that has these

characteristics

1. It is profitable

2. It is marketable

3. it will grow to employ others

4. you like it and are willing to do it.

This is my acid test. I wrote more about it on

choose the right business idea.

Must my ideas meet all these? YES for it to be a

winner and NO if your idea can meet 3 then its

ok. If your idea meets only two, then start it

without telling anyone. Who knows what it

might become tomorrow. Although I prefer the

four criteria.

Don’t wait for anyone before you begin

I agree that you need money to start a business

from scratch. But don’t wait for anyone or any fund.

Start small. It will be a big mistake to wait . get a

small job , raise a little amount and begin from your

house . whatever you get later will be an addition. I

hope this helps.

Click here to continue

the reading at

howtogetyouwin.com

Thank you for your time. Do check our website

Howtogetyouwin.com for free youwin business

plan template guide. And 16 business ideas you

can start immediately