About The Workshop By Patricia Phiri On the 30th of December 2011, Ukunika Educational Trust held a business innovation workshop to offer valuable guidelines and lessons on the challenges when enntering the entrepreneurial path. With a panel of skilled and experienced judicators offering tips and guidance on what prospective investors look for in a business proposal. This workshop was designed to ensure that all candidates are best equipped to devise into realistic plans that can be successfully implemented with a long-term vision in mind. The judging panels consisted of businessmen who have vast exposure and experience in running a business. The judicators wanted to make sure that the business proposal addresses a real market opportunity, that it has the potential to be commercially viable, and that potential entrepreneurs have a good understanding of the industry and what it entails for effective business start up. Ukunika Educational Trust is registered as a service provider in terms of the applicable legislation in line with SEDA regulations to provide learning programmes, which culminate in specified National Qualifications Framework standards or qualifications. These were all prospective entrepreneurs in attendance and each was given the opportunity to pitch their intended business in person to an expert panel of judicators. Each was allocated 3 minutes to present their ideas with an additional 15 minutes for the judicators’ question and answer session. During the session, participants were allowed to comment and offer constructive criticism to others’ business ideas, and from information gathered they learned a lot on what not to do and what to do, realising that their ideas were not fully researched and hence lacked the needed knowledge on the subject at hand, this helped them refine their business ideas. After deliberating, the judicators asked the participants to go back and rethink on the way forward in terms of their business ideas. They were advised to conduct much more extensive research and learn as much as possible about area of business they intend to pursue, familiarise with business/commercial laws. They advised the participants to have vision, mission statement and business objectives also to have sound product knowledge that will set their products apart from competitors. It was advantageous to start a business with a bit of own money, small steps to reach your vision, conduct feasibility studies, know what is needed and how much it costs so as to ascertain the return on investment (ROI) to be included in the business plan when presented. In conclusion participants were given advice on: How to demonstrate enthusiasm and confidence about the venture Knowing their audience Emphasise the opportunities and the anticipated benefits of the new venture Be prepared for questions Have sound knowledge of the product/service rendered The participants responded positively to the advice and were very enthusiastic about their respective ventures more so that they were given a platform to express themselves, share ideas and learn how to refine their business ideas. As part of their training, participants were given an opportunity to purchase a recording (DVD) of the sessions to further assist them in their communication and presentation skills. Print Top