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
Entrepreneurship

Invisible Economics and the Chain of Consequences

In his book, “The Fortune at the Bottom of the Pyramid,” C. K. Prahalad asserted: “Private Sector could have the greatest impact through creating profitable businesses serving the 5 billion people who represent the “invisible, unserved market.”

The worst thing that could happen to a people is not rejection or death; it is to be INVISIBLE, to be unnoticed. People aren’t just markets. They have dignity, choices, fears and needs that must be served. Sometimes, people are not really invisible; the onlookers are just blind. A society with few entrepreneurs is one with many blind citizens. Blind citizens cannot identify and explore resources, potentials and abundance hence, they perpetuate poverty.

Poverty is the testament that the dignity of a person has been threatened and his needs have been disregarded by self and others. It is the certificate of servitude issued by naïve societies and accepted by clueless citizens who have learned, accepted and endorsed self-helplessness. Poverty is the limit on alternatives. Abundance is the limit breaker. Abundance increases the quality of life; the quality of life improves with access; access is the inclusion of the excluded.

There are deep-seated motives that pass the test of reason and justify the need for entrepreneurship, enterprise, innovation and commerce. They, by far, outweigh the obvious need for survival and exchange. Citizens must organise, learn and self-educate to spot, earn and satisfy their dignity if ever they will disembark from the voyage of despondency. People of all races, cultures and tribes are beings of needs – needs craving attention. Entrepreneurs must be enabled to arise and arise to these cravings.

The Private Sector can institutionalize an enabling environment and push for equal opportunities thereby supplementing the deficiency of bad governance. The Private Sector can democratize access to ease, wealth and bliss. In an organised mode, the Private Sector can guarantee access to credit and uphold the currency of the Nation. This is required to engage the invisible economy and undo its chain of consequences.

LEAD Resources is an ecosystem enabler. We work to support the seamless catalysis of entrepreneurs and innovators. With fit-for-purpose capacity-building programmes such as our Business Enterprise Training and Digital Economy Emerging Managers’ programme, we contribute our quota to end poverty. To learn more about these programmes, contact us here.

AUTHOR

Elkanah Oluyori is a Digital Economy and Innovation Evangelist who is passionate about nation-building and community organizing. He has authored several relevant publications to this effect. Currently, Elkanah is an Associate Solutions Architect at Lead Resources, where he delivers Management and Development Consultancy to citizens, enterprises and the government. Owing to his vast experience in working with local and international development agencies, he leads Strategic Partnership at Reformers of Africa and coordinates West African Network on Peacebuilding (WANEP), FCT.

You may reach him via the following links:

Categories
Human Capital Development Technology and Innovation

The Core Offering of LEAD Resources: Digital Economy Emerging Managers’ (DEEM) Programme

ABOUT LEAD Resources

LEAD Resources is a strategic human capital development social enterprise with a focus on governance, enterprise and technology hinged on generating opportunities, stimulating innovation and creating solutions to address challenges in the polity.

ABOUT DEEM

The Digital Economy Emerging Managers’ (DEEM) programme is LEAD Resources’ intensive 3-month internship for graduates designed to equip them with practical knowledge of and competencies for the Digital Economy.

The DEEM programme provides measurable on-the-job training that yields performance allowances and commissions during the internship. The DEEM programme is the core offering of LEAD Resources.

The DEEM programme aims to develop talented youths by providing:

  • Awareness of the Digital Economy
  • Talent management
  • Industry-based projects
  • Guided work experience
  • Wholesome mentorship
  • Networking opportunities
  • Advocacy and ambassador opportunities

JOB OFFERS

Listed below are some of LEAD Resources’ partners offering business development, project management and executive assistance jobs. The DEEM programme provides a fast-track, intensive training to equip participants with the competencies required for the jobs below (and many more).

  • An Oxygen Production Plant: This facility is at construction stage and will be commissioned in Ogun state. The plant aims to supply sufficient oxygen to health institutions in Ogun state and environs.
  • A United States Health Diagnostics Device Company: This company seeks a digital health diagnostics representative to interface with hospitals, health management organisations and high-net-worth-individuals that require personalized healthcare.
  • A Precious Metals Buying Platform: This technology platform seeks regulators to manage transactions for solid minerals in Lagos while interfacing with the executives and service maintenance developers in Abeokuta.
  • A Domestic Gas Production and Marketing Plant: This company seeks executive assistants for profiling and accountability duties.
  • A Tertiary Education Management Platform: This platform seeks innovators and developers for:
    • A locally and internationally certified blended learning platform.
    • A robust university management platform.
    • An internationally recognized online assessment platform.

PHASES OF THE DEEM PROGRAMME

PHASE 1: CAPACITY BUILDING

This is the first phase which occurs during the first 5 weeks of the DEEM programme. It comprises a set of introductory classes and tutelage training on the following:

  • Introduction to LEAD Resources, our partners and projects
  • Introduction to LEAD Resources’ collaboration platforms
  • Mercer/Mettl personality profiling
  • Video-based reflections
  • Questions and answers
  • Digital Economy Competency roadmap learning
  • Delivery of 9 DEEM modules: Here, the competencies required for the Digital Economy are taught extensively in 9 modules by world-class facilitators who are professionals in these fields. The classes are highly engaging as all participants are required to share their views, lessons learnt and practical applications to real-life situations.

OVERVIEW OF THE 9 MODULES OF DEEM

PILLARS SELF ENTERPRISE TECHNOLOGY
PRINCIPLES Character Entrepreneurship Digital Economy Principles
PRACTICES Financial Literacy Business Models & Digital Transformation Emerging Technology
TOOLS Talent Management Digital Social Business Data Science & AI
GOALS CITI – Creative, Intelligent, Talented, Innovative Disruptive Leapfrog, Enabled, Valuable, Leverage, Scales
  1. Character –  This is the first course in the DEEM programme. Here, the participants learn, unlearn and relearn the pillars of character and the proper work ethics to breakthrough, thrive and retain relevance in the 21st century.
  2. Financial Literacy – This is a course wherein the participants are equipped with the knowledge and skills to effectively manage and grow personal and organizational financial resources. They are given insights into principles and measures for making the best decisions towards the achievement of financial goals.
  3. Talent Management In this course, the profile, skills and brand of each participant are objectively assessed. This is to the end that the participants reposition themselves (showcase their strengths and work on their weaknesses) while morphing into competent players in the Digital Economy.
  4. Entrepreneurship – Here, participants are enlightened on the principles of value creation and exchange. They are educated on the fundamentals of starting, sustaining and scaling organizations in the Digital Economy.
  5. Business Models & Digital Transformation – In this course, participants are given insights on harnessing technology for optimal business performance in the Digital Age. They are taught how to create digital business models.
  6. Digital Social Business – Here, participants learn how to acquire, build and retain customer relationships across various media channels so as to sell value and achieve desired goals. They are taught how to collect and harness big data for big profit.
  7. Digital Economy Principles – This course provides participants with guidelines and measures for operating as competent players in an economy that is driven by digital technologies. Participants are taught to play in the global economy regardless of the apparent limitations of their immediate environment.
  8. Emerging Technologies – This course introduces participants to the world of novel technologies such as Augmented Reality and Internet of Things to the end that participants learn to leverage them to be at the forefront of the Digital Economy.
  9. Data Science and Artificial Intelligence – The 21st century has presented the world with the 4th Industrial Revolution wherein data is king. Participants are taught how to harness big data so as to predict future outcomes and simulate desired customer experiences in any venture.

PHASE 2: EXPERIENTIAL LEARNING

This is the second phase which occurs between the sixth week and tenth week of the DEEM programme. It involves the practical application of all principles learnt and competencies gained in the first phase of the programme hence deepening the learning experience. It covers the following:

  • Digital Economy Competency tasks and activities
  • Acquisition of professional badges and certifications
  • Individual and collaborative assignments within the organization
  • Engagement in internal projects of LEAD Resources for real work experience
  • Interaction, consultancy sessions and submission of feedback to facilitators

PHASE 3: MONITORING AND EVALUATION

This is the third phase which occurs between the eleventh week and twelfth week of the DEEM programme. This is the period for the review and assessment of all the competencies gained. Here:

  • The performance of each participant is assessed and recorded
  • A Mercer/Mettl learning and development assessment is carried out
  • Each participant is required to develop a personal action plan for career and/or business by the application of new knowledge and tools

PHASE 4: GUIDED ENGAGEMENT

This is the fourth phase which occurs during the 13th week of the DEEM programme. Here, each participant is guided into an appropriate career path. This phase provides the following:

  • An online forum for mentorship by facilitators and interaction with peers
  • Lifetime access to all lecture materials (recordings, lecture notes and books)
  • After graduation, retention of successful participants or referral to our partners and clients

FOR WHOM

DEEM is designed for graduates who have completed the mandatory NYSC year or will complete it in about 2 months. Therefore, the minimum qualifications are:

  • Bachelor’s Degree or HND equivalent
  • NYSC call up letter or certificate

Other requirements include:

  • Proficiency in the use of Microsoft Office Suite and the Internet.
  • Proficiency in the use of English language (spoken and written).
  • Learning agility and zeal to upskill.
  • Critical thinking and stress management.
  • Ability to work under minimum supervision.
  • Communication and presentation skills.
  • Ability to handle confidential matters.
  • Ability to develop SMART goals and prioritize accordingly.
  • A good laptop and smartphone.

SUBMISSION GUIDELINES

To apply for the DEEM internship:

  1. Register via the link: https://bit.ly/leadinternship
  2. Submit your CV and cover letter (letter of motivation) through the registration form.
  3. Note that the deadline for submission (for the third batch of participants) is 11:59 pm on Friday, 25th September 2020.
  4. Anticipate the response of the organization if shortlisted.

N.B: LEAD Resources is equal opportunity employer hence applicants of all genders, religions and races are encouraged to apply.

Got questions? Visit our DEEM webpage here.

Categories
Entrepreneurship

LEAD Resources to Sign an MOU with Abeokuta Business School

Abeokuta Business School is the Business and Executive arm of Crescent University. On the other hand, Crescent University is the pioneer Islamic, co-educational tertiary institution in Nigeria.

Abeokuta Business School has a goal to develop entrepreneurs who implement (not just understand) practical knowledge of business education thereby filling the gap in Nigerian Business Education. It is located at Km 2, Kobape road, Oke Mosan, Abeokuta.

Seeing that LEAD Resources has a vision to be the indisputable knowledge, leadership and real solutions provider in Africa, LEAD Resources continually seeks to collaborate with institutions that are driven towards “knowledge revolution.”

Therefore, LEAD Resources is working to forge a synergy an sign an MOU with Abeokuta Business School to organize executive education workshops, seminars and capacity building interventions in the school.

Abeokuta Business School will have the responsibilities of oversight of the courses and provision of certificates for successful students. On the other hand, LEAD Resources will take on the responsibilities of development of course contents and designing of suitable capacity development methodology for the achievement of the objectives of the courses.

Abeokuta Business School
Business and Executive Courses

Thus far, LEAD Resources has proposed to run 13 executive courses. Eight of these courses are based on Digital Economy Competency while five are based on Government and Public Finance Management.

The proposed courses are as follows:

  1. Drivers of Digital Economy
  2. Digital Business
  3. Understanding Digital Transformation
  4. Digital Marketing
  5. Leading Digital Transformation
  6. Digital Strategy
  7. Data Science and AI
  8. Building Digital Social Business
  9. Leading Economic Development
  10. Leading Sub-National Government
  11. Managing Regulatory and Enforcement Agencies
  12. Mastering Public Finance Management
  13. Public Finance Management

The tentative fee per course is N150,000 while the duration of the training is 2 – 3 days. Meanwhile, a plan is underway to organize a Business Outlook Seminar for CEOs, HR Personnel, Public and Private Finance Management Experts in 2020. For enquiries or more information, contact us here.