The comprehensive training package of the Entrepreneurship Training Programs are based on conceptual understanding of the process of entrepreneurship development. An entrepreneur passes through different stages during the process of setting up his/her venture. The task of developing entrepreneurs comprises of (a) developing the entrepreneurial capabilities; (b) ensuring that each potential entrepreneur has a viable business; (c) equipping them with basic managerial understanding, and (d) guiding them to secure financial, infrastructural and related assistance so that an enterprise is launched.
There are practical activities used during the seven-day training workshop such as energizer, lectures, brainstorming, role play, case studies, simulation exercises, group discussions, audio–visual presentations, actual sales place based training, and experience sharing by the trainers to the participants and best practices of successful entrepreneur.
The participants got to know each other well through different activities by introduction themselves to the class and try to remember each other such as names, business types, hobbies, etc. They also learn on their own strength and weaknesses themselves and in business as well. They changed their mindset on the implementation of their daily routine, and activities. They gain their knowledge, skills and experiences on how to set up their short-time and long term goals. Furthermore, they gained their knowledge and skills about entrepreneurship concept, role and responsibilities and know about the characteristics of becoming a successful entrepreneur through different activities as role play and video shows. Participants were able to analyze the job opportunity and define the jobs to improve and extend their business.
The participants did the market research by using a list of questionnaire to ask the potential customers, and competitors and observation in the targeted area. They were able to analyze their real market need. The result of their research has been used in Mini Market. They also have been trained on the marketing mix, the 4 ps, product, place, price and promotion and sale forecasting. They could develop and innovate their product in packaging, product hygiene with quality, etc. They were able to set the price options with, below or above the market and observed the customer’s affordability. They knew how to choose the good place for their business and the target market. They could promote business through a variety of ways like a plague, name cards, loud speaker, Facebook, etc. Furthermore they gained knowledge and experience in sale promotion techniques and forecasted the six-month sale income.
Financial Management, family expenses and fund raising, has been transferred to the participants. They knew how to divide their gross and net profit according to their needs. They were able to analyze the cost product and operation cost in business and wrote down their income, expenses, and profit in the bookkeeping and checked in the daily stocks well. They saved their profit for the depreciation of tools or materials used in case they are broken or lost. At the end of that session, they could tell how much gross and net profit, and expenses in business in a month. Therefore they can note down them in their bookkeeping after the training.
Characteristic of good and bad sellers have been practiced in role play on the first session of the fourth day. The participants shared their experience and influenced the others in positive manner of good seller in the implementation of daily activities both in business or outside it. Guest speaker was invited to share his knowledge, skills and experience in his real business world.
Risk Management was included in the program to let the participants shared it and found the solution to manage it in business. Leadership and team work was used on the Block Building session. Participants built their confident and understood the necessity of working in group and knew how to lead the group well as well as in business. They wrote their actions with time in a day and played game about time. They could manage their time in daily activities and used it in effective and efficient way. They raised their problems in business to the class and found a variety of solutions and decided to choose the best one among alternatives.
Participants wrote down their business idea individually in the business plan model such as the Customer Segments, Value Proposition, Customer Relationship, Distribution Channels, Key Activities, Key Partners, Key Resources, Cost Structure, and Revenue Streams. After that session, they could develop their business plan accurately.
Each participants used their individual business plan to share in the class so that trainers and their peer could give some feedback and adjust it to the best. After presentation, they could get their business plan well which they will use in their own business after the training.
All youth will be coached five times after the training by coaches from NIEI whose roles are the coach on management, accounting and marketing. Youth was requested to provide a snapshot on their current situation, problems and results. Initially, we collected data on the numbers of youth business. We helped youths to reflect their problems, discussing performance and efforts. And the objectives of the coaching is (i) to guide and check the administration completion of youth documentation and (ii)to assess the current financial situation and to observe the effectiveness of youths’ financial management. (iii) And to instruct them on how to use the accounting books such as income statement, cash and account receivable books, account payable list, diary stock list, etc.