[quote author=xdream post=29681120]

If you set up a biz with 10M and you start running it. Then in 12months, after paying all bills (salary, tax, rents, power charges etc) you were able to save 10M (ie money invested in the biz) that's the break even point!

Now answer this simple question. If you invest 6M in a biz and you sell 1M monthly (500k goes for salary, tax, rents, power charges etc in a month) How many months will you reach profitably or break even? Seasonality observed!

If you miss this
12 month. but is the 10m part of capital cost such as equipt,land and building

Donxavier:


Your money don land be that ........anyway please open another thread for your political campaign, as you had stated earlier this thread is only for Youwin 4 discussions

Gd day Donxavier
pls I need to verify something from you asap. my nos is 08020824716. its a bout Youwin. hope you'd oblige . many thanks

hi blink182

compliments and nice to see you here too.

pls when is this 4th scheme closing as my browser isn't responding.

thanks.

2dmax:
hi blink182

compliments and nice to see you here too.

pls when is this 4th scheme closing as my browser isn't responding.

thanks.

January 31

blink182:
January 31

thanks.

blink182:
January 31

January 31? OK, I'm confused. I tried saving my application cos I'm not through with all d questions. after I successfully saved it, I got a mail telling me that I have until the 15th to complete my application and send it. It's really giving me wahala, as I'm now rushing to get it done, which can't be good for my application's accuracy.

anybody have a similar issue? should I ignore d mail and continue at my pace? I hope to be fully done by the 20th; its the finances that's holding me and I like to be thorough.

blink182:
January 31

January 31? OK, I'm confused. I tried saving my application cos I'm not through with all d questions. after I successfully saved it, I got a mail telling me that I have until the 15th to complete my application and send it. It's really giving me wahala, as I'm now rushing to get it done, which can't be good for my application's accuracy.

anybody have a similar issue? should I ignore d mail and continue at my pace? I hope to be fully done by the 20th; its the finances that's holding me and I like to be thorough.

nenyibabs:


January 31? OK, I'm confused. I tried saving my application cos I'm not through with all d questions. after I successfully saved it, I got a mail telling me that I have until the 15th to complete my application and send it. It's really giving me wahala, as I'm now rushing to get it done, which can't be good for my application's accuracy.

anybody have a similar issue? should I ignore d mail and continue at my pace? I hope to be fully done by the 20th; its the finances that's holding me and I like to be thorough.


January 31? OK, I'm confused. I tried saving my application cos I'm not through with all d questions. after I successfully saved it, I got a mail telling me that I have until the 15th to complete my application and send it. It's really giving me wahala, as I'm now rushing to get it done, which can't be good for my application's accuracy.

anybody have a similar issue? should I ignore d mail and continue at my pace? I hope to be fully done by the 20th; its the finances that's holding me and I like to be thorough.

Go with what is written on the website.

blink182:
January 31

All blogs I have seen say Jan 30th. Am not sure where/how you arrived at 31st

Donxavier:


All blogs I have seen say Jan 30th. Am not sure where/how you arrived at 31st

30th sorry

hi fellows!
i have some questions to ask and will appreciate good responds.

1. my business is a service base one. source for products from manufactures---supply to wholesalers/retails. is it viable

2. must one fill every questions in the form, because refers to business with products to produce.

wisehouse:
hi fellows!
i have some questions to ask and will appreciate good responds.

1. my business is a service base one. source for products from manufactures---supply to wholesalers/retails. is it viable

2. must one fill every questions in the form, because refers to business with products to produce.

1.yes but supplies will depend on your target customers (whole salers/retails)
2.are you refering to the first stage or second stage? if its the first,let me know the questions,if its the second,wud recommend that you wait to first get pass the second stage...then we can discus that...hope this helps?

openmine:


1.yes but supplies will depend on your target customers (whole salers/retails)
2.are you refering to the first stage or second stage? if its the first,let me know the questions,if its the second,wud recommend that you wait to first get pass the second stage...then we can discus that...hope this helps?

thanks sir! am talking of the questions in first stage,

please can briefly explain the questions in the marketing section

wisehouse:
thanks sir! am talking of the questions in first stage,

please can briefly explain the questions in the marketing section

these are the marketing questions on a first stage...
1.What benefits of the product or service enables your business to stand out from your competitors?
2.Does this meet a particular need or demand (your competitive advantages, if any)?
3.Name five of your existing or expected top customers, How will you attract these customers to your
point of sale?

brief answers
1.what will ur service provide or offer that customers havent gotten from other service-oriented businesses.
2.does d service u r giving out meet the needs of ur customers?..state yes and highlight such needs(competitive advantages)
3. state all ur existing and expected top customers...this leads to a question...who are ur target customers? who will need ur services and also pay for such services? if you are naming,state their institutions..ie logistic companies,financial institutions etc
last question attached 2 question (3.) how do u intend bringing such customers to ur company(point of sale)...
its a summary 2 ignite ur thinking..if u need sum little explanations...let me know...all the best!!

openmine:


these are the marketing questions on a first stage...
1.What benefits of the product or service enables your business to stand out from your competitors?
2.Does this meet a particular need or demand (your competitive advantages, if any)?
3.Name five of your existing or expected top customers, How will you attract these customers to your
point of sale?

brief answers
1.what will ur service provide or offer that customers havent gotten from other service-oriented businesses.
2.does d service u r giving out meet the needs of ur customers?..state yes and highlight such needs(competitive advantages)
3. state all ur existing and expected top customers...this leads to a question...who are ur target customers? who will need ur services and also pay for such services? if you are naming,state their institutions..ie logistic companies,financial institutions etc
last question attached 2 question (3.) how do u intend bringing such customers to ur company(point of sale)...
its a summary 2 ignite ur thinking..if u need sum little explanations...let me know...all the best!!

Thanks bro, that was super explanation. I think these is enough to handle these section.

Please sir can so throw more light on 'management and product sub-section

With you am making progress, thanks a lot

Do u leave in ENUGU

wisehouse:
Thanks bro, that was super explanation. I think these is enough to handle these section.

Please sir can so throw more light on 'management and product sub-section

With you am making progress, thanks a lot

Do u leave in ENUGU

Management

1.How many new, full-time (or equivalent) staff will be employed in the business 12 months from
receiving the first stage award?
2.Describe the benefit you and your proposed staff will bring to the business, including: expertise,
track record in the Industry and management experience.
briefs
1.how many staffs will you be employing into various sections of ur company ie accountant,sale manager,general manager etc
2.What kind of assistance or effect will ur you and ur staffs that you are employing put into the business,it must include expertise(skills and experience),track record(ability),management experience(control of its assets, security and finances)

Product
1.Name your three largest existing/expected competitors. Which, if any, have a localised presence or
distributor network?

2.Describe the materials you will need to create your product or service. Are these materials readily
available, at the right price and quantity, in your locality? If yes, please describe any relevant
information.

3.Is there an existing or expected lead time for manufacture, set-up, harvest or breeding? If yes,
give estimated lead times for each product?

4.What risks or challenges might affect the success of your business, including: licences and
accreditations (what can stop you from making this business a success)? How will you reduce or
mitigate these risks?

brief

1.this will depend on the industry-sector of business you are into...who are the already established businesses in your sector of business that you intend going to?
try to name them...find out if those companies have a localised presence(all over nigeria)

2.state and explain the materials u need to create or startup ur services...indicate if the materials are available in nigeria or ur state...if yes provide more info about their availability locally!

3.is there a specific time that is expected of you to setup ur services...state the time,days or weeks that will be enough for you to setup d equipments needed in order to kick start ur services....

4.find out the risks and challenges that ur type of business will face and state measures you will take to reduce such risks or challenges involved.

As usual,if u have challenges in my explanations pls let me know...am not based in enugu! All d best!!

openmine:


Management

1.How many new, full-time (or equivalent) staff will be employed in the business 12 months from
receiving the first stage award?
2.Describe the benefit you and your proposed staff will bring to the business, including: expertise,
track record in the Industry and management experience.
briefs
1.how many staffs will you be employing into various sections of ur company ie accountant,sale manager,general manager etc
2.What kind of assistance or effect will ur you and ur staffs that you are employing put into the business,it must include expertise(skills and experience),track record(ability),management experience(control of its assets, security and finances)

Product
1.Name your three largest existing/expected competitors. Which, if any, have a localised presence or
distributor network?

2.Describe the materials you will need to create your product or service. Are these materials readily
available, at the right price and quantity, in your locality? If yes, please describe any relevant
information.

3.Is there an existing or expected lead time for manufacture, set-up, harvest or breeding? If yes,
give estimated lead times for each product?

4.What risks or challenges might affect the success of your business, including: licences and
accreditations (what can stop you from making this business a success)? How will you reduce or
mitigate these risks?

brief

1.this will depend on the industry-sector of business you are into...who are the already established businesses in your sector of business that you intend going to?
try to name them...find out if those companies have a localised presence(all over nigeria)

2.state and explain the materials u need to create or startup ur services...indicate if the materials are available in nigeria or ur state...if yes provide more info about their availability locally!

3.is there a specific time that is expected of you to setup ur services...state the time,days or weeks that will be enough for you to setup d equipments needed in order to kick start ur services....

4.find out the risks and challenges that ur type of business will face and state measures you will take to reduce such risks or challenges involved.

As usual,if u have challenges in my explanations pls let me know...am not based in enugu! All d best!!

this is full loading.thanks for the enlightenment

openmine:


Management

1.How many new, full-time (or equivalent) staff will be employed in the business 12 months from
receiving the first stage award?
2.Describe the benefit you and your proposed staff will bring to the business, including: expertise,
track record in the Industry and management experience.
briefs
1.how many staffs will you be employing into various sections of ur company ie accountant,sale manager,general manager etc
2.What kind of assistance or effect will ur you and ur staffs that you are employing put into the business,it must include expertise(skills and experience),track record(ability),management experience(control of its assets, security and finances)

Product
1.Name your three largest existing/expected competitors. Which, if any, have a localised presence or
distributor network?

2.Describe the materials you will need to create your product or service. Are these materials readily
available, at the right price and quantity, in your locality? If yes, please describe any relevant
information.

3.Is there an existing or expected lead time for manufacture, set-up, harvest or breeding? If yes,
give estimated lead times for each product?

4.What risks or challenges might affect the success of your business, including: licences and
accreditations (what can stop you from making this business a success)? How will you reduce or
mitigate these risks?

brief

1.this will depend on the industry-sector of business you are into...who are the already established businesses in your sector of business that you intend going to?
try to name them...find out if those companies have a localised presence(all over nigeria)

2.state and explain the materials u need to create or startup ur services...indicate if the materials are available in nigeria or ur state...if yes provide more info about their availability locally!

3.is there a specific time that is expected of you to setup ur services...state the time,days or weeks that will be enough for you to setup d equipments needed in order to kick start ur services....

4.find out the risks and challenges that ur type of business will face and state measures you will take to reduce such risks or challenges involved.

As usual,if u have challenges in my explanations pls let me know...am not based in enugu! All d best!!

God will surely bless you for your generosity.

@ openmine are you an awardee i need hep in answering some questions .

How about this section on profitability:

What are your current and expected sales within the next 12 months (units and income) ? If there is any seasonality, please explain

expected sales within the next 12months; do I put a ball park figure for the 12 months, or do I have to break it down by month? By month, I mean units sold per month, then amount generated, then the total for 12 months.

Help, somebody. Thanks.

nenyibabs:
How about this section on profitability:

What are your current and expected sales within the next 12 months (units and income) ? If there is any seasonality, please explain

expected sales within the next 12months; do I put a ball park figure for the 12 months, or do I have to break it down by month? By month, I mean units sold per month, then amount generated, then the total for 12 months.

Help, somebody. Thanks.

If go tru this thread u will see d answers to dis, however,
If its a new business u wil only b interested in Expected sales, and talks about how much of your product u can sell per month, multiplied by 12 will give u sales per Year...

Simply state hihow many units u can produce per month, how much sales is dat? Den myltiply by 12 to give you per year.
seasonality is mostly in agric products,i.e is there a period sakes are high ??

@ openmine God bless u.

Please guys, do they favour d clothing, shoes & other personal biz? Or I should simply go 4 retails?

olamibiddy:
Please guys, do they favour d clothing, shoes & other personal biz? Or I should simply go 4 retails?

Clothing and Shoes are cool. Don't go for retails, it won't fly an inch in the competition. Goodluck!

Thanks God Bless

Thank God I came across this post. any awardee here who recieved in Agriculture (crop farming and processing) will need your help please.
God bless you all

How much money do you plan to take out of the business personally (average amount per month)? please what am i expected to write here?

Linzo:
How much money do you plan to take out of the business personally (average amount per month)? please what am i expected to write here?

Your salary!

Hello all...thank you for all the good work!!!!
Pls I need to know if my estimation is on check. I am going into fabriction of machineries and my expenses resulted to
1. capital equipment -N4,000,000 -40%
2. Operating expenses -N4,250,000 -42.5%
3. Other -N750,000 -7.5%

Total=N9,000,000 -90%

Please I need your kind response...Thank you

tundenojim:
Hello all...thank you for all the good work!!!!
Pls I need to know if my estimation is on check. I am going into fabriction of machineries and my expenses resulted to
1. capital equipment -N4,000,000 -40%
2. Operating expenses -N4,250,000 -42.5%
3. Other -N750,000 -7.5%

Total=N9,000,000 -90%

Please I need your kind response...Thank you

No o! Your total cash requested for ie 9M, is 100% not 90%. So your capital cost should not be more than 40% of 9M. 4M is about 44.4% of 9M. Do your math again.

Linzo:
How much money do you plan to take out of the business personally (average amount per month)? please what am i expected to write here?

they want you to tell them how much u will be paying yourself every month. 30k, 50k 100k your choice.

Linzo:
How much money do you plan to take out of the business personally (average amount per month)? please what am i expected to write here?

You can write nil, cuz if its your salary, it will be captured in d general salaries, so i think you should write nil, but if u must write make it a small amount..
Regards

tundenojim:
Hello all...thank you for all the good work!!!!
Pls I need to know if my estimation is on check. I am going into fabriction of machineries and my expenses resulted to
1. capital equipment -N4,000,000 -40%
2. Operating expenses -N4,250,000 -42.5%
3. Other -N750,000 -7.5%

Total=N9,000,000 -90%

Please I need your kind response...Thank you

1. Capital equipment- #3,600,000 40%
2. Operatung expense- #4,500,00 50%
3. Others #900,000 10%

Thats what u should have.
Regards