Y.E.E.P. Scholarship/ Mentorship/Funding Program

Program Breakdown

The program which has been uniquely structured to function primarily online to break the barriers of distance has received over 50,000 applications from across different African states in less than 1 year since we commenced, up to 13,000 young Africans have participated and are still being empowered through the Young Entrepreneurs Empowerment Project. Below is a breakdown of the different stages of the program:

The Y.E.E.P. Scholarship Program (which is primarily online) gets participants enrolled into our academy and trained for a period of 6 – 10 weeks within which they would be taking our Entrepreneurship Essential online courses on our E-learning website, fundamental tools of entrepreneurship and a general background on entrepreneurship in the African scene. Below is a more descriptive breakdown:

Business Management:
Business Management offers an insightful introduction to the entrepreneurship processes. It is a guide on how to move your ideas or skills, profitably, from your mind to the market. This course covers the four basic processes that helps an entrepreneur build sustainable businesses. This course explains ideation and how to come up with ideas that would be profitable in the market. The course also covers feasibility and how an entrepreneur can conduct a valid feasibility study. Business planning and business model design as well as strategic execution is also covered in the course. For entrepreneurs who are hoping to get started and get it right in business, this is the best point of entry. This course offers the knowledge that you need in order to build a rock solid business that can withstand the challenges of business startup.

– What will you learn?
– More about entrepreneurship
– Ideation: How to come up with viable ideas and also improve existing ideas
– Feasibility analysis: How to check if your idea is better than your competitors
– Business planning and modeling: Building a solid business that would succeed
– Execution: How to intelligently build your team and your business for sustainability

Entrepreneurship in Africa:
This would help you develop a practical entrepreneurship mindset and guide you on business start-ups and entrepreneurship knowledge to be used at the various levels in Africa to enhance development through innovation.

Startup Funding for Entrepreneurs:
This course is for aspiring or active entrepreneurs who want to understand how to secure funding for their company. This course will demystify key financing concepts to give entrepreneurs and aspiring entrepreneurs a guide to secure funding. Examine the many financing options available to get your new venture funded. Learn the basics of finance, valuations, dilution and non-dilutive funding sources. Understand capital structure for new ventures, term sheets and how to negotiate them, and the differences between early-stage versus later-stage financing. Develop an understanding of how to develop winning investor pitches, who and when to pitch, how to avoid common mistakes that limit the effectiveness of the pitch, and how to ‘get to the close’. Key questions answered within the course include:
• When to raise outside capital?
• What kind of investors invest by stage and where to find them?
• What are your fundraising options?
• What are the key components of the term sheet?
• How to perform company valuations?
• How to pitch to investors?
• What techniques help the entrepreneur ‘get to the close’?

Kindly note that before you commence your participation in the program, you are required to complete your registration with a fee of $25 (NGN10,140). This fee covers for your course materials and certification at the scholarship stage of the program.

The Y.E.E.P MENTORSHIP PROGRAM commences after a participant has successfully completed the scholarship program and has obtained certification. This stage of the Young Entrepreneurs Empowerment project is open to participants who pay to access mentorship. (Kindly note that this stage is optional and participants may proceed to the funding stage regardless of their participation in the mentorship stage). The mentorship program gives the participant a hands-on experience on how to setup a business using their existing business or an idea they may have. 

How does the mentorship program run?

The mentorship program runs for three months, within which the participant undertakes an intensive business development procedure. Each month focuses on developing the participant and their business.

– The first month focuses on Structural development of the business by engaging the participant on business development topics and activities.

– The second month is focused on Minimum Viable Product (M.V.P.); where the participant would focus on getting traction for his or her business or idea.

– The third month is based on scaling, where the participant works on getting his or her business to grow using some strategic leverage.

The goal of the mentorship program is to help the participant structure and get their business started properly.

The previous activities of the program prepare the participant for this stage of the program. The Y.E.E.P. Funding program requires that participants are provide their pitch decks, business proposals and a copy of their business plan. Participants are usually required to present and defend their business proposals as they pitch live to their potential grantors/investors.
If they successfully pitch their ideas and business plans to our grantors, they could be awarded a grant and different levels of funding and opportunities by grantors and investors present at the pitch event.

Benefits of The Program

The Young Entrepreneurs Empowerment Project is structured to raise and support young Africans who are enthusiastic about entrepreneurship and leadership. We are set to drive innovation through sound entrepreneurial initiatives. Below are some benefits of being a participant of the Young Entrepreneurs Empowerment Project.

Why study our business management course?

For the aspiring entrepreneurs and business leaders, our business management course is consistently a popular choice. It provides the academic knowledge and skills to pursue global career opportunities and helps you develop a broad understanding of businesses and specific areas such as finance and human resources. But if you’re still not 100% sure if our business management course is for you, here are five reasons that will convince you.

1.  Develop key management skills

One of the biggest highlights of studying our business management course is the key management skills that will allow you to be a valuable asset to any organization. You will build a skill set to respond to challenges and current developments in business and society, giving you the ability to make informed managerial decisions that consider ethical, economic and social implications. Some of these essential business management skills include:

– Critical and strategic thinking
– Communication
– Problem-solving
– Organization
– Presenting
– Reporting
– Leadership
– Project management.

2. Employability

Students who choose to study our business management courses graduate with highly desirable, transferable skills and strong business knowledge; two things that are sought after by potential employers. Graduates of our business management course are presented with a variety of job opportunities in:

– Management
– Consultancy
– Marketing and advertising
– Human resources
– Retail and sales
finance.

3. An introduction to the business world

Our business management course will help you gain in-depth knowledge and understanding of the core elements of business and management – it’s also a great introduction into the world of business if you have no prior experience. It provides industry insights, such as market trends and industry reports, which can prove to be invaluable and you will be encouraged to apply academic theory to real-life business situations that will help you kickstart your career once you graduate.

4. Be your own boss

Not only will you have fantastic career opportunities after you graduate, but you will also have the core elements to start your own business – all you need is a business idea to get you started. Through developing your entrepreneurial skills and being able to test launch any business ideas you might have, our business management course puts you on the path to be your own boss – you might even meet your future business partner as you participate.

5. Learn about multiple disciplines

If you’re not 100% certain on what you want your future career to be, or you just want to have a broad knowledge, then our business management course is an excellent choice. You will learn an overview of the main business functions that contribute to the success of a business and then often be able to specialize in an area of your choice. These typically include:

– Human resource management
– Entrepreneurship
– Finance
– Service operations.

Other areas you may study could be consultancy, supply chain management or even global business.

When you graduate with our business management certificate, you graduate as a well-rounded student with a diverse knowledge of the business world.

Our Certification program is a way to enhance your credibility, self-image, and encourage life-long learning and professional development. Our certification programs benefit employers and automation professionals by promoting development and recognition for individuals, and by providing measurable hiring and promotion qualifications for managers. Our certification recognizes and documents your experience, knowledge, and education – and provides an objective, third-party assessment of your skills.

As an individual, getting certified in our business management course:

– Enhances your professional credibility

– Extends your knowledge and skills, preparing you for more job responsibilities

– Serves as portable proof of your ability

– Enriches your self-image and reputation among peers

– Improves your career opportunities-promotion, pay increases, job portability

– Encourages life-long learning and professional development

While formal business registration with the state or local government in your country isn’t necessarily required to complete business transactions, it is a smart choice for a new entrepreneur for a variety of reasons. There are also legal and marketing advantages to registering a business name. The Y.E.E.P. Team can help direct you in choosing the right business registration, as well as help you complete the business registration process.

– Establishing Business Bank Accounts

You need to provide proof that your business is a properly registered business with the state to open a business bank account. The Y.E.E.P Tean has a guide for opening a business bank account. A business bank account is an important asset to a small business because you can separate your personal activities from your business activities. It is also more professional to give your clients a business name for payment instead of your own full name.

– Getting Loans

When you apply for small business loans, you’re going to have to prove that you’re actually a business. Lenders and investors will ask to see your business registration along with other application requirements before approving you for a loan. If you apply for a credit card as a business, creditors may also ask to see your registration paperwork.

– Taxes And Liability

Registered businesses must have a Tax Identification Number (TIN) with the IRS and the state in which they are based as a business. This ensures the legitimacy of the business entity as a legal and tax-statused operation. Further, it ensures compliance with legal standards for bookkeeping and accounting. This establishes that the business is paying taxes, employees are covered under adequate insurance and the business is reporting income to the government. There are also many tax benefits to registering a business.

– Reputation With Customers

Establishing consumer trust highlights the importance of registering a business. Customers and clients, especially people you’ve never worked with before, need assurance that you are a legitimate business. A potential client may suspect your business of being a “fly-by-night” operation if your company isn’t properly registered. When a business is on file with the state, it could put your clients at ease when making a decision about whether to spend money with your company.

– Supplier Arrangements

A registered business also makes you eligible to receive supplier discounts that you wouldn’t normally receive as an unregistered operation. Suppliers commonly reserve wholesale rates for business owners who can show official paperwork from the state. Also, if you plan to try to get government contracts for your company, a business registration is one of the first requirements.

– Hiring Employees

A business registration allows you to hire full-time employees and pay them in accordance to state laws. When you register your business with the state you’ll receive a state identification number that allows you to route state taxes on the employee’s behalf. So if you plan to hire on employees to your business, it’s best to take care of registering your business with the state before you even start the search for workers.

Why you need a business plan for your business?

1. See the whole business.

Business planning done right connects the dots in your business so you get a better picture of the whole. Strategy is supposed to relate to tactics with strategic alignment. Does that show up in your plan? Do your sales connect to your sales and marketing expenses? Are your products right for your target market? Are you covering costs including long-term fixed costs, product development, and working capital needs as well? Take a step back and look at the larger picture.

2. Strategic Focus.

Startups and small business need to focus on their special identities, their target markets, and their products or services tailored to match.

3. Set priorities.

You can’t do everything. Business planning helps you keep track of the right things, and the most important things. Allocate your time, effort, and resources strategically.

4. Manage change.

With good planning process you regularly review assumptions, track progress, and catch new developments so you can adjust. Plan vs. actual analysis is a dashboard, and adjusting the plan is steering.

5. Develop accountability.

Good planning process sets expectations and tracks results. It’s a tool for regular review of what’s expected and what happened. Good work shows up. Disappointments show up too. A well-run monthly plan review with plan vs. actual included becomes an impromptu review of tasks and accomplishments.

6. Manage cash.

Good business planning connects the dots in cash flow. Sometimes just watching profits is enough. But when sales on account, physical products, purchasing assets, or repaying debts are involved, cash flow takes planning and management. Profitable businesses suffer when slow-paying clients or too much inventory constipate cash flow. A plan helps you see the problem and adjust to it.

7. Strategic alignment.

Does your day-to-day work fit with your main business tactics? Do those tactics match your strategy? If so, you have strategic alignment. If not, the business planning will bring up the hidden mismatches. For example, if you run a gourmet restaurant that has a drive-through window, you’re out of alignment.

8. Milestones.

Good business planning sets milestones you can work towards. These are key goals you want to achieve, like reaching a defined sales level, hiring that sales manager, or opening the new location. We’re human. We work better when we have visible goals we can work towards.

9. Metrics.

Put your performance indicators and numbers to track into a business plan where you can see them monthly in the plan review meeting. Figure out the numbers that matter. Sales and expenses usually do, but there are also calls, trips, seminars, web traffic, conversion rates, returns, and so forth. Use your business planning to define and track the key metrics.

10. Realistic regular reminders to keep on track.

We all want to do everything for our customers, but sometimes we need to push back to maintain quality and strategic focus. It’s hard, during the heat of the everyday routine, to remember the priorities and focus. The business planning process becomes a regular reminder.

Equipping your business encompasses first determining your equipment needs, then acquiring the items you need and finally, using that equipment productively.

The Y.E.E.P. Team guides you through these processes. We also provide opportunities that fund the equipping of your business.

Learning how to properly pitch is one of the most important skills a founder needs to develop. It allows them to find investors, to attract great co-founders, to recruit the best employees, and ultimately to fine-tune their idea.

The Young Entrepreneurs Empowerment Project grooms you with pitching skills to help you raise funds as a startup.

We also provide funding opportunities where you get to practice the skills learnt and get funded in the process.  

Active professional networking is vital to career growth. Many shudder when they hear the term networking, associating it with awkwardness, cheesy events and the idea of ‘selling’ yourself.

However, despite its off-putting connotations, networking is actually about building long-term relationships as well as a good reputation over time. It involves meeting and getting to know people who you can assist, and who can potentially help you in return. Good networking has a basis of trust and support – and can mean the difference between a mediocre career and a phenomenal career.

These are some benefits of our networking opportunities:

Strengthen business connections

– Get fresh ideas

– Raise your profile

– Advance your career

– Get access to job opportunities

– Gain more knowledge

– Get career advice and support

– Build confidence

– Gain a different perspective

– Develop long-lasting personal relationships

– Get an answer to every question

– Find a job you love

Apply To Participate

Apply to participate in the Young Entrepreneurs Empowerment Project. Get equipped for success through our scholarship and Mentorship Program, learn our entrepreneurship essentials and earn a certificate in Business Management. Gain access to several opportunities within our network; mentorship, funding, business networking opportunities, skill acquisition and so much more.

Participation is open to Organizations, social enterprises, startups which are led by youths between the ages of 18 – 40. Priority is also given to idea-stage and growth-stage startups or social enterprises working on an innovative product or idea.