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Re: Youwin Business Competition 2013 by TAJIBADE: 10:10pm On Aug 17, 2014 |
favoryourl:My total fixed cost is 1,785,000 amount needed- 10,450,000 total sales- 14,800,000 total cost- 12,290,547 Actually the second formulas gave me the correct answer i sed for the stage 2 submission but the first formulas didnt give me that. |
Re: Youwin Business Competition 2013 by favoryourl(m): 12:02am On Aug 18, 2014 |
[quote author=TAJIBADE]My total fixed cost is 1,785,000 amount needed- 10,450,000 total sales- 14,800,000 total cost- 12,290,547 contributions margin = 14,691,195-12,290,547 = 2,509,453 contr margin ratio. = 2,509,453÷14,691,195 = 0.1708134 Break even amount = 1,785,000 ÷ 0.1708134 =10,450,000 keep me posted where u still have challenges remember that your break even point is that point when your revenue is equal to the money u needed to start your business |
Re: Youwin Business Competition 2013 by favoryourl(m): 12:15am On Aug 18, 2014 |
TAJIBADE: My total fixed cost is 1,785,000 NB your fixed cost are the cost of your machinery and equipment. pls no depreciation. also known as your capital cost. then your variable cost are the cost of good produce and running cost (direct and indirect cost) |
Re: Youwin Business Competition 2013 by favoryourl(m): 12:17am On Aug 18, 2014 |
TAJIBADE: My total fixed cost is 1,785,000 total fixed cost is 1,785,000 amount needed- 10,450,000 total sales- 14,800,000 total cost- 12,290,547 contributions margin = 14,691,195-12,290,547 = 2,509,453 contr margin ratio. = 2,509,453÷14,691,195 = 0.1708134 Break even amount =1,785,000÷0.1708134 =10,450,000 keep me posted where u still have challenges remember that your break even point is that point when your revenue is equal to the money u needed to start your business |
Re: Youwin Business Competition 2013 by Denn(m): 6:48am On Aug 18, 2014 |
any Nairalander in here at Best Western? i can see a lot of bright future aliko dangotes here. not enough time to prepare but i pray for the best. thanks |
Re: Youwin Business Competition 2013 by Denn(m): 10:26am On Aug 18, 2014 |
Denn: any Nairalander in here at Best Western? i can see a lot of bright future aliko dangotes here. Just finished... Was different from expectations. I was not told to present.... Questions galore from the first second! They were all brilliant chaps who listened attentively to everything you said and spoke like business people. You need to understand your business and your figures as questions were thrown from different angles. I was given a chance to explain the risks and my mitigates. In addition, my knowledge of the market was tested. I got advices and noted them down. If you are presenting a food related business, please include nafdac. For all businesses, consider insurance too. In addition, what will you do if your planned customers don't buy from you? What will you do when competition tries to freeze you out? For accreditation, if you are an existing business, please go with a copy of your business bank statement and your tax clearance certificate. Tax clearance certificate should be for the business and not your Individual name. For new businesses, go with your certificate and other registration documents... Include originals and copies. For not yet completed registrations, please go with any evidence of process. Validated name search and copies of submitted forms. That's all 1 Like |
Re: Youwin Business Competition 2013 by medoty: 12:05pm On Aug 18, 2014 |
Denn:Thanx Man. Please do the panel check your CAC cert and TCC or its only at the registration point? Do the panel use our interview template or second stage application? |
Re: Youwin Business Competition 2013 by Denn(m): 1:29pm On Aug 18, 2014 |
medoty:No, they didn't check mine. Interview template was used. But I assume they have gone through your application because they had laptops |
Re: Youwin Business Competition 2013 by bamistol: 1:57pm On Aug 18, 2014 |
Please like how many people are invited for Lagos interview? I learn that they are about 670 in Enugu Denn: any Nairalander in here at Best Western? i can see a lot of bright future aliko dangotes here. |
Re: Youwin Business Competition 2013 by bamistol: 1:58pm On Aug 18, 2014 |
Please like how many people are invited for Lagos interview? I learn that they are about 670 in Enugu Denn: |
Re: Youwin Business Competition 2013 by bamistol: 2:00pm On Aug 18, 2014 |
Please like how many people are invited for Lagos interview? I learn that they are about 670 in Enugu drollster: |
Re: Youwin Business Competition 2013 by bamistol: 2:03pm On Aug 18, 2014 |
No Iv not done. Mine is in Abuja 30th Aug. When is your own? It will be good if we share idea and win together. We will surely win In Jesus name. medoty: |
Re: Youwin Business Competition 2013 by bamistol: 2:07pm On Aug 18, 2014 |
Thank God for people like you. God will continue to lift you in Jesus name. Please I need your assistance precisely in the area of financial. Most especially breakeven Expecting your response. Thanks in advance favoryourl: |
Re: Youwin Business Competition 2013 by medoty: 2:41pm On Aug 18, 2014 |
bamistol: No Iv not done. Mine is in Abuja 30th Aug.mine is on 28th |
Re: Youwin Business Competition 2013 by Omaobe: 3:35pm On Aug 18, 2014 |
Can financial experts in d house pls explain to me if i sud include in my implementation cost any part of d profit made during d year and used to augement d operating cost? For example, if my operating cost is initially N3.8m and I later add N5.2m from my profit during d year totalling N10m operating cost and Fixed Cost N4m, sud I say my implementation cost is now N14m (10+4) or N7.8m (3.8+4)? Hope to hear from u all soon. Thanks in advance. |
Re: Youwin Business Competition 2013 by medoty: 3:43pm On Aug 18, 2014 |
Omaobe: Can financial experts in d house pls explain to me if i sud include in my implementation cost any part of d profit made during d year and used to augement d operating cost?Your implementation cost should be only your FC and OE. In this case 3.8 and 4 making a total of 7.8. |
Re: Youwin Business Competition 2013 by favoryourl(m): 3:54pm On Aug 18, 2014 |
bamistol: Thank God for people like you. God will continue to lift you in Jesus name.how do you need help in the financials, let me knw the particular area |
Re: Youwin Business Competition 2013 by Omaobe: 7:04pm On Aug 18, 2014 |
medoty: Thanks so much. |
Re: Youwin Business Competition 2013 by aofete: 7:29pm On Aug 18, 2014 |
Wrong, Breakeven is when total cost equals total revenue[quote author=favoryourl][/quote] |
Re: Youwin Business Competition 2013 by favoryourl(m): 10:23pm On Aug 18, 2014 |
aofete: Wrong, Breakeven is when total cost equals total revenueI understand that u have problem of language. pple like u always out to criticize without contributing. now use ur common sense total cost is the amount needed to cover both fixed cost and running cost abi then when your revenue equals what u needed that is the BE pls next time don't just comment be sure of what u want to say. always remember to be constructive in ur criticism |
Re: Youwin Business Competition 2013 by rhemahills(m): 11:49pm On Aug 18, 2014 |
[quote author=favoryourl][/quote] My total fixed cost is 623,500 Amount needed- 10,000,000 My Contribution- 1,000,000 Total Amount needed- 11,000,000 Total sales- 7,700,000 Total cost- 5,945,200 price of one unit is 1,000,000. Please help me to calculate my breakeven and at which month will i breakeven. thanks |
Re: Youwin Business Competition 2013 by Omaobe: 6:16am On Aug 19, 2014 |
favoryourl: Harsh! Why nah? Just because he picked what it seems to him like an error in your suggestn sudn't av warranted dis ur comment. We sud kno how to tolerate divergent opinions. Nobody knows everything. Since we see ourselves as brothers and sisters on our way to becoming millionaires, try and apoligise to him. He's ur millionaire brother my millionaire brother! All we need is one love! Who wins?! We win! 1 Like |
Re: Youwin Business Competition 2013 by ciscaos(f): 8:23am On Aug 19, 2014 |
Omaobe:halo house,i had my interview in enugu on Saturday. from my experience and those around me that did theirs, i discovered that this interview is no big deal just have a preliminary knowledge of ur proposal. u guys should stop wasting time on ur break even analysis because u wont be asked. know ur selling point well, ur competitors, machinery and general description of ur business thats all. u are even allowed to make notes u can use during the interview. make una forget break even analysis 4 now abeg!!! |
Re: Youwin Business Competition 2013 by aofete: 8:41am On Aug 19, 2014 |
I believe you are full of yourself, for you to use that language it shows. What is this forum about? I believe for people to express their opinion and opinion are open to criticism. If you made a statement and I feel that it is not correct I have all the rights in this world to say my views, for you to insult me is very low of you and I DEMAND AN APOLOGY FROM YOU WHICH MUST BE POSTED ON THIS FORUM. Let me post here what you said and I quote ‘’ remember that your break even point is that point when your revenue is equal to the money u needed to start your business’’ AND I SAID, I quote “ wrong that breakeven is when total cost equals total revenue” not the money you needed to start your business. When you are wrong you are wrong don’t start insulting the sensitivity of people. YOU MUST APOLOGIZE. FOR YOUR INFORMATION TOTAL COST IS NOT EQUAL TO WHAT YOU NEED TO START A BUSINESS. Just saw now that you belong to Youwin 1, no wonder let me tell you if the standard of Youwin 1 is used for Youwin 3, all 6000 first stage winners will qualify for Youwin 3. So don't think because you are a winner in Youwin 1 you know all. favoryourl: |
Re: Youwin Business Competition 2013 by studyexec: 9:52am On Aug 19, 2014 |
Guys that have done panel interview so far, Did the panelists find and discuss errors (arithmetic or otherwise) in your financial plans? Thanks in advance |
Re: Youwin Business Competition 2013 by ahaika23: 10:58am On Aug 19, 2014 |
Nope! Nothing like financials was asked me. studyexec: Guys that have done panel interview so far, |
Re: Youwin Business Competition 2013 by Denn(m): 11:27am On Aug 19, 2014 |
Where will we get paid ooooooo |
Re: Youwin Business Competition 2013 by bizhub: 1:56pm On Aug 19, 2014 |
Please those that have done their interview,should please share their experience,especially the questions the asked,and how best to answer them abeg....so others can learn..so all of can form millionaires club |
Re: Youwin Business Competition 2013 by Omaobe: 5:14pm On Aug 19, 2014 |
Any1 from Best Western, Lagos today? Pls update us how it went. |
Re: Youwin Business Competition 2013 by 4tunebest(f): 5:49pm On Aug 19, 2014 |
Omaobe: Any1 from Best Western, Lagos today? Pls update us how it went. Some of 'us' were given packs of customized cakes by the panelists after the interview. A pack of 6 cup cakes with Y-O-U-W-I-N spelt on them. I guess some winners know themselves already. The rest of us can only hope for the best. |
Re: Youwin Business Competition 2013 by 4tunebest(f): 5:55pm On Aug 19, 2014 |
studyexec: Guys that have done panel interview so far, No. I would advice you to SUMMARISE your financials as instructed in the template. Know your business very well You need to be able to defend the amount you are asking for. How will you spend the money? |
Re: Youwin Business Competition 2013 by ITL: 6:13pm On Aug 19, 2014 |
Success !!! |
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