Aafulenu: hw did u pple derive ur sales? did u just guess any figure?

You have to forecast sales properly..

mikolam: Is there a new financial template different from the one used last year?if there is can anyone send it to me @ adewumi_ayomide@yahoo.com.

Sent you the template for this year. I actually don't know if they changed it template because I didn't apply for the first edition.

Aafulenu: hw did u pple derive ur sales? did u just guess any figure?

check what others in your industry are doing in terms of sales and use it as a basis to forecast your own sales. Be realistic in this as over ambition could be detrimental to your quest! All the best.

but what if at the end i dont sell anytin? or i dont sell as much as i expected?.
wont it come around to bite me?

Aafulenu: but what if at the end i dont sell anytin? or i dont sell as much as i expected?.
wont it come around to bite me?

If at the end of the day you can't sell anything, then you don't deserve to get the grant! Well, I'm not trying to be sarcastic but going into business with the mentality that "what if I don't sell anything" doesn't appeal to me. It's ok if you don't sell as expected. That's why it is business. In business you either make profits or loss. So nothing is going to come around and bite you. Just make your forecast as realistic as possible.

Aafulenu: but what if at the end i dont sell anytin? or i dont sell as much as i expected?.
wont it come around to bite me?

U need to start by telling urself the truth. Have u convinced yourself you can make it and do u really believe in your dream and business idea? Then don't spoil it with having any negative mindset. If others in that your business feild are genuinely making it, you don't need any 'what ifs' to stop you from joining them. And in any case, its only a projection;accomplishing it or not, meeting the targets or not, winning or loosing, is in your hands! The secret is BE POSITIVE!

neksummi:

Sent you the template for this year. I actually don't know if they changed it template because I didn't apply for the first edition.

@neksummi, God bless you.
Yes that of last year wasn't this elaborate and it didn't contain breakeven point and those other stuffs

I've sent you another mail but want others to benefit from the enquiry.

I need an advice with requesting for the youwin grant. If for example I am requesting for a total of 5 million naira in a manufacturing business and before production can start, I would need to spend about 3 million on capital expenditure(machines, factory space e.t.c). Ain't I supposed to request for at least 3 million in month 1?

But Youwin says they will give only 10% of total money requested to start with which is only 500,000 naira. Even if I can raise some more money, I might not be able to start production still because one of the machines cost over a million.

thanks as I anticipate your response.

Below is the reply I sent to you. Others can correct me if I'm wrong:

You can make your request not minding what they said they're going to
start giving which is 10%. What you are giving in the cashflow is
your projections and you may not even start production until you
receive the 2nd payment. As you rightly said, N500,000 can't buy you
the equipment you need. You'll just use it to register your company,
buy land etc.

neksummi:

If at the end of the day you can't sell anything, then you don't deserve to get the grant! Well, I'm not trying to be sarcastic but going into business with the mentality that "what if I don't sell anything" doesn't appeal to me. It's ok if you don't sell as expected. That's why it is business. In business you either make profits or loss. So nothing is going to come around and bite you. Just make your forecast as realistic as possible.

oga nekusummi. there is every posibility that sales would be low as at start. am just being realistic. anybody that thinks that they will sell their goods immediately they move it into the market is on its own world. and i know u are excited, and maybe think u are very smart. but ehh leave YouWin to determine who deserves their grant or not.

thank you

Aafulenu:

oga nekusummi. there is every posibility that sales would be low as at start. am just being realistic. anybody that thinks that they will sell their goods immediately they move it into the market is on its own world. and i know u are excited, and maybe think u are very smart. but ehh leave YouWin to determine who deserves their grant or not.

thank you

pls don't get it twisted. I think he only tried to give you an advice, though bluntly. like I said, its a projection, you may wish to state and reflect your thoughts and concerns in your cash flow. There are avenues for carrying your marker(s) along: stating your assumptions and explaining some of your inputs in details. Is there any law that says business cannot pick up immediately they start? And what is it with the excited and smartness part? Una get quarrel before?

dougivilla: pls don't get it twisted. I think he only tried to give you an advice, though bluntly. like I said, its a projection, you may wish to state and reflect your thoughts and concerns in your cash flow. There are avenues for carrying your marker(s) along: stating your assumptions and explaining some of your inputs in details. Is there any law that says business cannot pick up immediately they start? And what is it with the excited and smartness part? Una get quarrel before?

i dont have quarrel with anyone. weda before or after. and am not getting anything twisted. i asked a simple question and he replied me. nothing twisted abt it.

Aafulenu:

oga nekusummi. there is every posibility that sales would be low as at start. am just being realistic. anybody that thinks that they will sell their goods immediately they move it into the market is on its own world. and i know u are excited, and maybe think u are very smart. but ehh leave YouWin to determine who deserves their grant or not.

thank you

I quite agree that sales could be low at the start. But my point is that you shouldn't have the mentality of "What if I don't make sales" I wish you the very best in your application. Remember me in your kingdom when you receive the award as I'm not eligible as a male. Just helping someone with her's.

dougivilla: pls don't get it twisted. I think he only tried to give you an advice, though bluntly. like I said, its a projection, you may wish to state and reflect your thoughts and concerns in your cash flow. There are avenues for carrying your marker(s) along: stating your assumptions and explaining some of your inputs in details. Is there any law that says business cannot pick up immediately they start? And what is it with the excited and smartness part? Una get quarrel before?

We no get quarrel o. How I go take quarrel with my lovely sister. Wetin she do me?

neksummi:

I quite agree that sales could be low at the start. But my point is that you shouldn't have the mentality of "What if I don't make sales" I wish you the very best in your application. Remember me in your kingdom when you receive the award as I'm not eligible as a male. Just helping someone with her's.



We no get quarrel o. How I go take quarrel with my lovely sister. Wetin she do me?

i get u.. "be positive". will do my best and leave the rest for baba G

Aafulenu:

i get u.. "be positive". will do my best and leave the rest for baba G

That's it.

Just submitted

mkmyers45: Just submitted

Congrats.

mkmyers45: Just submitted

CONGRATULATIONS!!!

Pls can any1 help out. The section where it says "money still owed to me and money relating to previous and money I still owe and money relating to previous", are we supposed to fix in figures there and what am I supposed to fix in? As my business is on a payment before service basis. Thanks in anticipation.

diegs: Pls can any1 help out. The section where it says "money still owed to me and money relating to previous and money I still owe and money relating to previous", are we supposed to fix in figures there and what am I supposed to fix in? As my business is on a payment before service basis. Thanks in anticipation.

Do u still need help with this?

dougivilla: Do u still need help with this?

Yes pls I still do. The business is a new person. Thanks

the result is out, u guys should go check ur names

Aafulenu: the result is out, u guys should go check ur names

Thanks and congrats to us!

dougivilla: @utimatedes U're probably one of the few on this thread with a first hand information on this stuff, a one time beneficiary and one who also has interest in the current regime. You will do well to let us share from ur wealth of experience. A few questions have been asked in this and other threads. Maybe I should bring them to your notice:
1. Can one alter the proposed business idea at this stage?
2. Can one increase or decrease the grant amount stated earlier?
3. Can the bizness plan idea be modified or enlarged to include something else at this stage?
4. For those who may not possess expertise to prepare adequately their required financials i.e cash flows, profits and loss, balance sheets and others, whats the way out?
5. Is there any specific thing you think the markers will be looking out for or better put, what in your opinion can cause failure in this competition?
6. Are there sectors that are more favoured in this competition.
7. What if all i can come up with is less than one million or more than ten?
I'l stop for now.

Hello Dougivilla, very sorry I did not monitor this topic. Now let me answer those questions even if it is a little bit late.
1) Can one alter the proposed business idea at this stage?
ANSWER:
The answer is NO, once you have submitted an idea, you can change it again.

2. Can one increase or decrease the grant amount stated earlier?
ANSWER: YES you can.

3. Can the bizness plan idea be modified or enlarged to include something else at this stage?
ANSWER: YES you can.

4. For those who may not possess expertise to prepare adequately their required financials i.e cash flows, profits and loss, balance sheets and others, whats the way out?
ANSWER: Get an expert to do that for you. As for me, I use internet and Google is my best friend. I did my cash flow by myself.

5. Is there any specific thing you think the markers will be looking out for or better put, what in your opinion can cause failure in this competition?
ANSWER: Clear demonstration of skills and ability to manage your business, understanding of the environment, giving facts and not story, showing passion, good cashflow projection just to mention a few.

6. Are there sectors that are more favoured in this competition.
ANSWER: Agriculture and ICT.

7. What if all i can come up with is less than one million or more than ten?
ANSWER: if it is less than a million, you may be given a million or 2 million, and if you need more than 10million, you more given 10m, but if it is above 15m and you don't have other source to meetup with your business funding, am afraid your plan will be rejected.

I will also use this medium to congratulate those I mentored who made it. I wrote my sister's business plan and it gives me joy that out of 65,000 applications, you made it.

You can checkout my blog www.utibeetim.com where I discussed extensively about YouWIN and other opportunities. If you are looking for opportunities or grant to grow your business, you can visit my personal blog where I help Nigeria business grow.