₦airaland Forum

Denn: i need to meet you this neksummi guy *no pun intended*
nice answer

Don't worry we shall meet in Abuja during the award by God's grace. I've also been following your posts and you're someone I'd like to meet too.

Bigboyz32: Guy you overtight. I bow for you ooo

Gratitude!

Omaobe: My experience at Bestwestern Holel, Lagos.
The Pernelists: 'Mr man, your business plan is too optimistic and dr4 unrealistic'.
Dey were just like making jest of me when I was trying to defend it. May be I sud just...

Me: Thank you sir. That's your opinion and I appreciate it. My purpose of being here is to make you reason with me that it is realistic. What particular portion of it seems unrealistic to you sir?

dinmauk2: Hello house, congratulations to all of us. I have a quick question-was the presentation of waec certificate wholly enforced? I lost mine a while ago. Please, let me know without being sarcastic or snarky...I'm nervous and terrified enough already. I have my degree and other certificates, just not WAEC...thank you

Haven't done mine yet but I believe they'll take statement of result.

favoryourl: here u are again
you forgot that there are consultants in business plan writing. if u must knw this now, I have quite a handful of potential winners on this forum I am rubbing minds with without asking for a dime.
I preety sure some of them can attest to this fact.
so I did receive any money from anyone to write.

Let this 'fight' end already! We must not agree on everything but our disagreement shouldn't go the way that an agreement is impossible. The way you guys are going, I'm afraid you may not get to an agreement ever! Sheathe ur swords guys. Thank you.

Adulphus: YOU HAVE TO KNOW YOUR FINANCIALS, KNOW YOUR COMPETITORS, YOUR MARKET AND MARKET STRATEGY. YOU MUST BE ABLE TO SPEAK GOOD ENGLISH AND BE ABLE TO CONVINCE THEM. THERE ARE 52 PANELIST DIVIDED BY 13 PANELS = 4, SO YOU WILL BE FACED TO DEFEND YOUR PLAN IN THE PRESENCE OF 4 PANELIST. FOR THOSE GOING TO ENUGU, PANEL 11 IS VERY FAIR AND THERE ARE GOOD PEOPLE.

BELOW WAS HOW I BROKE MY FINANCIAL ANALYSIS:
Hi. How much money do you need to implement your business? ii. How will you fund the business? iii. What will the funds be used for? iv. How and/or when will the business make profit? [100 words] Please show a summary of the breakeven analysis.
i. Total Capital = N11,000,000
ii. YouWIN Grant and Family
iii. Capital Cost = 4,400,000 including: The Cost of Machineries = 3,400,000naira
The Cost of Office Equipment and furniture= 300,000 naira
The Cost of Vehicle = 700,000naira

Operating Expenses = 3,300,000
Indirect Cost = 1,820,000
Miscellaneous = 1,480,000
iv. My Business will make profit after month 11 of the Grant Award.

Breakeven Analysis: [NB: 1 unit of my product is sold at 2,700 naira]
BEP in Units = Fixed Cost/Contribution
Fixed Cost = Capital Cost + Indirect Cost + Depreciation
Depreciation = Capital Cost/10years = 4,400,000/10 = 440,000
Fixed Cost = 4,400,000 +1,820,000 + 440,000 = 6,660,000
Contribution = Sales Price – Variable Cost = 2,700 – 1,200 = 1,500
Therefore, my Breakeven Point in Units = 6,660,000/1,500 = 4,440Units
BEP in Naira = 4,440 x 2,700 = 11,988,000
11,988,000/1,100,000 = 10.9 = 11months

ONCE AGAIN KNOW YOUR FINANCIALS BECAUSE THEY WILL ASK YOU HOW YOU WILL SPEND THE MONEY (FINANCIAL PRUDENCY)
GOOOOD LUCK

I have a problem with your inclusion of capital cost as part of the fixed cost - depreciation, no problem but capital cost, I no too 'gree. Can you enlighten me please?

medoty: Do they have d soft copy of our second stage application with them? Do they go outside the interview template? Thanx in anticipation of your answers

Good question.

dstan: @necsummi and obiscolly,you r appreciated,I will take to ur advise....all d best to us all

You're welcome. I'm Neksummi NOT Necsummi.

All the best to you too.

dstan: Hello fellow winners.I actually applied for the youwin pro gramme as an existing business but recently had to do a fresh reg because the object clause on my previous business name is not same as what I entered the competition with.For anyone with the interview experience, since its not up to a month I did the registration,will they still ask for my tax clearance and is it possible for me to use a tax clearance of my other business?Thank you in anticipation.My interview is in Abuja on 26th.....please a good samaritan help out

Haven't done my interview but here's my take on your issue:

- Go with the tax clearance of the previous business.

- Don't know if different businesses owned by the same owner need different TINs (Tax Identification Number) If so, get the TIN for the new business.

- Then go explain the situation to them.

I guess you should be covered with this strategy. All the best.

Mine is in Abuja too 28th.

blink182: Have you done your presentation?

Not yet chief. Mine is exactly 2 weeks from today! 3:00 - 3:40 pm.

Thanks for the concern.

CoolKizzy: Lol, mine wasn't even collected from me, I had title to five of them to use, they were viewing my main application on their laptops.

Thanks for this information.

dosibuch: tips from my biz plan defense yesterday.
1. know your business processes well
2. know your competitors
3. know your marketing strategy.
I will rate mine 60-70% cos I remembered things I could have said when I left the panel in a hurry to catch a flight so as to be in the office today.
don't make same mistake. Goodluck

You're blessed. For not being selfish, you shall scale through. Forget about what you forgot to tell them. You shall be favoured even with the ones you presented.

Guys I have this challenge. I noticed bullets are counted too in the number of words presented and some times I have up to 8 - 15 points that are bulleted (Don't mind the english). What should I do? More so that we're printing things out. Even if they're to count the words, do you think they'll count bullets as words? Help me out please.

Thanks.

medoty: 8 digit number in front of your name. Not very sure tho

That's it.

CoolKizzy: why are we not discussing the template?

Cos no one has started discussion on the template.

dauaminu: Respected nairalanders, who knows exact number of people shortlisted. Some say 1200 while others say 1500.. pls help..!

It's not stated anywhere so everything you hear are speculations. But I guess we may be more than 1200.

Patiladwonder: 30 YOUWIN 3 POSSIBLE INTERVIEW QUESTIONS
Business Information (For both new and existing business)
1. Your Name:___________________________________________________
2. Your qualification:______________________________________________
3.Business Name:________________________________________________
4.Type of Business:_______________________________________________
5. Sector of Business/Business Location :________________________________
_______________________________________________________________
6.Is it a new business or existing:____________________________________
7. A brief description of the business and its competitive advantage:_____________
_____________________________________________
You can read the remaining at
http://dayoadetiloye.com/30-youwin-3-possible-interview-questions/

They've already given us the quetions o!

toastmagazinenigeria: @neksummi...same with mine. Am kingsley by name. Hope to see there.

Hope to see you too. My time is 3:00 to 3:40pm but I'll be there 2 hours earlier as they advised.
You can have my mobile: 08063306838

Mine is on 28th August at Barcelona Hotel, Wuse 2 Abuja.

spdnltd: Am interested in this program, posted about three months ago on the quick smart program, on naira land, definitely the ppl on position 1 to 4 might have changed, needed to know the current status , my mail spdnltdng@gmail.com. thanks

Get in touch with me on 08063306838.

You can visit our site http://somuchfree..com/2013/05/quick-smart-programme-earnings-proof.html

blink182: congratulations bro. I've passed half way with my business proposal that was rejected, I got my cac certificate early this month. When the business succeeds, I'll mock this program at every interview I attend.

Thanks man and congrats on your business success. As someone said earlier, that you weren't selected doesn't mean your biz idea isn't good. Go on guy! All the best.

blink182: [size=15pt]Please did any of the winners here submit a technology start up-ie a fully online business?[/size]

I did. Online business na the only thing wey I sabi! Anything?

eetua: Congrats..
I was not selected, but my sister was selected.

Thanks.

My younger brother wasn't selected. But it's ok. At least let other families too be represented. Thank God your sister was selected so you've got your family represented. I wish you the best in your future endeavours. And I pray Youwin does something for everyone of the 6000 second stage candidates.

I was selected! Thank God.

eetua: ill tell u what ill do if i were in your situation.... I guess you already have a name for your proposed business? Why dont you do a name search for N500, and if the name is available it will be reserved for like a month or so, the results will definitely be out before the reservation of your biz name expires....So if you win you already have an approved name and you can easily source for funds to complete the registration.....

Good advice there. The name is actually reserved for 60 days!

Omaobe: Chai, permutation about the list release date don start! All these permutations u'r sharing, dr's God ooo!

Abi wetin you want make we do? At least let's keep ourselves busy to ease tension.

eetua: I know too, but on there website it still states May 31st as closing date of application... Between now and next week, i strongly believe that the results will be out.... However, whether the result is released today or next month, my main concern is to be among the lucky ones....

That's it o! If one's name isn't on the list, it's of little use even if it came out today.

johnugwu: if not ambiguous please can you throw light on it, i don't seem to get it.
"Let the list be out already"
May be i am a slow poke and my understanding level is below par.
Thanks

Go watch Mara and Clara or any of those Filipino films, you'll hear enough of those turanci

medoty: 7 weeks will be on 22 of this month because application closed on Tuesday 3rd of June. So we should expect the results from Monday 21st.

Yeah. I noted that as well but just decided to keep mute. Next still isn't far so we'll keep waiting.

eetua: d result will definitely be out soon....Youwin 2 second round took exactly 7 weeks from March 25th 2013 when applications closed to May 13 2013 when results where announced..... if they follow the same pattern, then for Youwin 3, July 19th will make 7 weeks.... So keep your fingers crossed the results will b out soon..

All right. My fingers are crossed. 19th isn't far from today.

It's past 12 a.m. Wetin dey?

Nyako has been impeached!

I'm in Adamawa state. Confirmed!

CoolKizzy: it seems u suffered amnesia together with nairaland? if not you for sabi say na result we dey wait here. don't add insult to my already nervous mind. . abeg shift. . .

LOL! I beg tell am again.

Dreamtouch: Any news on how many people they are shortlisting since Youwin made it compulsory that every1 shud register his or her business ?? Is it tru that the CAC registeration mail from youwin was not sent to everybody?

Only people who didn't receive the email can answer that. But I haven't seen or head of anyone who didn't receive the CAC registration email.

johnugwu: on d form, there is a space where the court has to sign and stamped before CAC will accept it.

Ok. Thanks.

johnugwu: i registered a business name. I spent 750 Naira to purchase d forms. 10k for business name registration and 100 naira for court signing

What is it that is being signed at the court please? I cannot remember signing anything at the court when I registered my business name 6 years ago.