Categories
Entrepreneurship

Business Enterprise Training for Access to Finance

Business Enterprise Training (BET) is an initiative of Lead Resources to educate entrepreneurs about financial analysis, digital business models and the digital economy while giving them the leverage they need for access to finance. It is targeted at entrepreneurs with a drive to start or scale up their businesses.

Business Enterprise Training: Introductory Class

For entrepreneurs to access loans from institutions such as the Central Bank of Nigeria (CBN), it is legally required that they are trained by a recognized Entrepreneurship Development Institution (EDI) such as Lead Resources. The mission of BET is to raise functional entrepreneurs who can start and/or scale their businesses by accessing small interest loans from financial organizations to achieve their business goals.

Business Enterprise Training: Blended Training

Last week, Lead Resources held her first BET for the year 2021. Associate Solutions Architect (ASA) Adetoyese Oyedunmade (Team Lead, BET Team) coordinated this cohort, and she was ably assisted by ASA Itua Emmanuel and ASA Francis Edobor. The training held for 2 days (4th and 5th March 2021).

Business Enterprise Training: Blended Training

As is the norm, the last cohort of BET was a blended training, that is, part online and part offline. Every participant was required to take some basic online courses here, and present the required certificates from the undertaken courses. Subsequently, the offline training held at the head office of Lead Resources, Abeokuta, Ogun state.

Business Enterprise Trainer: Mr. Olufemi Johnson

On the first day of the offline training (4th March 2021), Mr Olufemi Johnson, the designated trainer of this cohort, taught the BET participants on Organizational Structure, Digital Business Models, Financial Planning, Marketing, etc. These topics were treated as independent, interconnected courses. The training, seeing as it was one filled with experienced businessmen, was more practical than theoretical. This first class lasted for 4 hours.

Business Enterprise Training: Student Engagement

On the second day of the offline training, Mr Olufemi Johnson did a recap of all he taught in the previous class. He delved deeper into topics such as Business Plan Compilation and Executive Summary and ended with the crux of the convergence – Introduction to the NIRSAL Platform and Simplified Online Credit Business Plan Questionnaire. The participants were taught how to successfully access loans from NIRSAL and other financial organizations to start and/or scale their businesses. This second class lasted for 4 hours.

Business Enterprise Training: Student Engagement

Afterwards, certificates were awarded to the BET participants, and feedback was received for better execution. The participants have gone on to apply their knowledge, and gain access to finance the right way.

Are you interested in finance to start and/or scale your business? Let Lead Resources give you the knowledge that gives you the leverage. Start by clicking here.

AUTHOR

Tomiwa Babajide is an Associate Solutions Architect at LEAD Resources, a charismatic administrator, an SDGs advocate, a creative writer and a graduate of Microbiology. She is adept in transdisciplinarity, novel and adaptive thinking and virtual collaboration. She is zealous to provide real-time solutions to challenges in the polity. She loves to eat crackers and drink yoghurt, and she can pray and go on road-trips for Africa.

Categories
Human Capital Development

Setting Personal Goals

“If you don’t know where you are going, you will probably end up somewhere else.”

Lawrence J. Peter

Many people feel lost. They work hard but never seem to do anything worthwhile. One reason people feel this way is that they haven’t spent much time thinking about what they want from life and haven’t set themselves formal goals.

The process of goal-setting helps you choose where you want to go in life by identifying what you want to achieve and where you have to concentrate your efforts.

There are three basic steps in the personal goal-setting process:

  1. Understand: Understand yourself by knowing what motivates you and what you want to achieve.
  2. Collect & Create: Compile an extensive list of what you want to achieve.
  3. Prioritize: Is it worth your time, is it relevant and is it sustainable?
Setting Personal Goals

One easy way to ensure you achieve your goals is to set SMART ones.

  • Specific
  • Measurable
  • Attainable
  • Relevant
  • Time-bound

REVIEWING YOUR LIFE GOALS

Goal-setting is not enough. Reviewing your goals regularly is quite important to determine whether they are still relevant, and whether you are on track. If not, you need to adjust them in line with your current situation.

By reviewing your goals, you can measure your achievements. If you fail to achieve one step, you can reassess your situation and try new approaches. 

Keeping your goals defined and updated as your situation changes is one of the ways to stay motivated throughout your journey in life.

ACHIEVING GOALS

When you’ve achieved a goal, take your time to enjoy the satisfaction of having done so. If the goal was a significant one, reward yourself appropriately. This helps build your confidence.

Also, absorb the implications of goal achievement, and observe the progress that you’ve made towards other goals.

With the experience of achieving a goal, review the rest of your goals if:

  • You learned something that can lead you to change them.
  • You noticed a deficit in your skills despite achieving your goal. Take deliberate steps to fix this.

When setting your life goals, it is good to base them on your strengths, but ensure they are relevant and ultimately achievable. To achieve more, I repeat, set SMART goals.

For more insights and practical solutions on personal talent management and goal-setting, contact Lead Resources here.

AUTHOR

Adetoyese Oyedunmade is an Associate Solutions Architect at Lead Resources. She is an Agriculturist by profession and is enthusiastic about entrepreneurship.

Categories
Entrepreneurship

Business Idea Development

Before you start a business, you need to have an idea that can birth the business. Generating a business idea is not an easy task; sometimes, you may experience an “idea block.”

According to Wikipedia, a Business Idea is “A concept that can be used for financial gain that is usually centered on a product or service which can be offered for money.

When thinking of ideas for a business (old or new), it is very important to carry out research, pay attention to details and follow a rigorous development and review process. Follow me…

MARKET NEEDS 

Before an idea is generated, it is wise to carry out research to identify the needs of your target customers. 

CREATION 

Brainstorming is the key to Concept Creation. You must also keep track of all ideas (as no idea is a bad idea), evaluate them and determine which is most valuable and profitable. 

ASSESSMENT 

This involves market research where data about your idea is collected and analyzed. You must assess all aspects of an idea before moving to the next stage. 

PLANNING 

A well-defined business plan will steer your business in the right direction and increase the chances of having a successful product launch. 

DEVELOPMENT 

At this stage, your ideas will be developed. You should create manufacturing and operations processes and market testing plans. 

TESTING 

This stage involves a test market that is as close as practicable to a real market. Here, your prototype will be released to the public. The prototype will be tracked and your test market results will determine whether your idea is valid enough to become a product. 

LAUNCH 

A successful product launch should address whether you have:

  1. A sufficient number of products in existence.
  2. Correct planning and marketing strategies.
  3. Appropriate documentation for your product. 

Business Idea Development can be high-risk, time-consuming and money-consuming, especially if the wrong steps are taken. This is why we go beyond offering courses on Business Enterprise Training at LEAD Resources. We incubate your ideas and give you all the necessary support for a successful product launch. 

Need some help? Contact us for organizational support here.

AUTHOR

Adetoyese Oyedunmade is an Associate Solutions Architect at Lead Resources. She is an Agriculturist by profession and is enthusiastic about entrepreneurship.

Categories
Human Resource Management

Strategic Self-Management: A Panacea for Organizational Growth

In this article, we shall discuss how self-management correlates with organizational growth.

According to Head & Heart (TransformEd & ANet), Self-management, also known as “Self-control” or “Self-regulation,” is the ability to regulate one’s emotions, thoughts and behaviours effectively in different situations. This includes setting and working toward personal and organizational goals, managing stress, delaying gratification, and motivating oneself.

It is important for organizations to pay keen attention to improving the self-management skills of their employees. This is because researches show that employees’ work input and effectiveness (which is in resonance with organizational growth) is often affected by their physical and mental wellness. 

Self-management skills allow you to improve your workplace performance, maximize your productivity and achieve your professional goals.  Hence, improving your self-management skills can help you increase your employability and manage your career path better. 

Examples of self-management skills include:

  • Organization 
  • Goal-setting 
  • Time-management 
  • Stress-management 
  • Accountability 
  • Self-motivation 

HOW TO IMPROVE SELF-MANAGEMENT SKILLS 

There is a need to focus on ways you can direct, evaluate and improve on your daily tasks. Here are a few ways to improve your self-management skills: 

  1. Assess Your Strengths: Determine what professional tasks you’re best at and focus on ways to maximize your abilities in these areas.  
  2. Prioritize Your Responsibilities: Clearly define which responsibilities are most important, focus on them and avoid distractions.
  3. Develop Organizational Systems: Find effective methods to help you streamline your daily activities and manage your time. Also, keep important items in easy-to-find places.  
  4. Create Strict Deadlines: Set deadlines for each stage of a project and maintain your schedule. Be accountable and sacrifice the hours needed to reach your self-designated checkpoints. 
  5. Perform One Task at a Time: Focus your time, energy and abilities on a single task at a given moment. Complete one task before moving on to another for efficiency. 
  6. Practise Patience: Maintain a sense of calm to help you think clearly and objectively. Be considerate of others, and try to empathize with their needs and experiences. 
  7. Take Care of Your Health and Wellness: Have a healthy diet, exercise regularly, maintain good personal hygiene and actively focus on lowering your stress levels.  
  8. Evaluate Your Progress: Objectively assess the progress you’ve made toward your goals by setting checkpoints along the way and tracking your accomplishments.  

With reference to the paragraphs above, the importance of strategic self-management as proportionate to organizational growth cannot be overemphasized. As individuals, we must strive towards personal development as it makes us better in our personal lives and at our workplaces. No doubt, stable employees make a stable organization. 

For more insights on strategic self-management, subscribe for Lead Resources’ Personal Talent Management course here.