The event was ILO-SIYB Trainer of Trainers Program. The training covered three SIYB packages namely Generate Your Business Idea (GYBI), Start Your Business (SYB), and Improve Your Business (IYB).
The first step to successful business is starting with the right business idea. Here the potential entrepreneurs learn practical ways of generating viable business ideas and select the one that works for them. The business survival rate depends on the business idea selected by the potential entrepreneurs.
Armed with the business idea, the next move is to start the business the right way. The SYB module helps entrepreneurs achieve that. The key thing here is that the potential entrepreneurs are enabled to prepare detailed and bankable business plans. This business is not only important for running the business operations but also in sourcing capital for the business. Starting business with a credible business plans helps reversing the trend where about 70% of MSMEs fail within 3 first years of operation.
After starting business successfully, so what next? The entrepreneurs need to undertake strategic interventions for improving the business. Here, IYB module comes I handy. It helps entrepreneurs to undertake strategic interventions in key areas including marketing, people and productivity, costing, buying and stock control, record keeping and continous planning. Additionally, in this phase, the entrepreneurs benefit from continous business mentorship and coaching to ensure that they grow and remain profitable.
At Comely Global Consulting Limited, we help potential entrepreneurs generate viable business ideas, develop bankable business plan, link them with financial institutions and other business development service providers, as well as development and implementation of strategic actions plans, mentorship and coaching.
