EYIT Business Academy is the engine for business development for both startups and SMEs.
It provides entrepreneurs with insights, tools, and methodologies needed to start a business, grow a business, finance a business, and operate a legal business.
Through this academy, young people will be equipped with the basic skills required to launch and run their businesses at the early growth stage. It covers several topics including starting and scaling a business, business development, marketing strategy, effective management, product design, and many more. This academy is intended for entrepreneurs who are starting a business or have started a business that is still at a startup and SME stage and it focuses on practical, iterative learning that is useful after the training period.
MODULE 1: START YOUR BUSINESS
This module is aimed at founders who are in the phase of developing ideas and testing product-market fit. The ‘Start your business’ module is aimed at founders who are in the phase of developing ideas and testing product-market fit. It will cover topics such as;
Introduction to entrepreneurship
The topic will help entrepreneurs to develop an entrepreneurial mindset.
- Defining a business
- Business ideation
- Business modeling
2. Product development
The entrepreneur will be made to understand the complete process of delivering a new product or improving an existing one for customers. Knowing the product development process helps to put different types of products from software to hardware, to consumer goods and services. Several approaches to be used including;
- Lean Startup methodology
- Product development cycle
- Design thinking
3. Understand the external environment
A startup needs to be aware of the things that happen around the world which might influence business operations. An entrepreneur will be made to know how to react to external factors that are key to their success. In this lesson, the focus will be on;
- Assessing the competitive landscape
- Managing political and regulatory risk
- Understanding market risk
4. Know the target market
For a startup or SME to make money, customers must know what they are selling. Marketing is an important effort that helps an entrepreneur connect with customers and show them how the solution is better than what competitors provide. An entrepreneur needs to know how to package a product or service, the story behind the product, and how to enter the market to best attract customers. Finally, an entrepreneur will need to know how to pitch to actual customers to test these ideas and help refine their future efforts. The focus will be on;
- Get to know your customer
- Define your target market
- Brand story development and packaging
5. Pricing
Numerous elements impact the price you set for your product. Someone starting a business must consider the market in this process, understanding what competitors are charging and what customers are able or willing to pay. To explore these topics, you will be considering what your competitors charge, thinking through your own costs in greater detail, and considering projections for long-term profitability.
6. Building a team
A team will help an entrepreneur deliver the best product or service to customers. Successful businesses require strong skillsets and you will be learning how to identify potential skill gaps within your company. Once you’ve identified the necessary skills and the potential skills gaps, you can then consider ways of attracting employees (such as compensation) and the expectations you will have for future employees. Finally, you will be considering what sorts of Board Members and Advisors will be important to your long-term success.
Throughout this course, an entrepreneur will be made to understand the team necessary to develop, market, manage, maintain, and advance your solution over the next several years. Other focus areas include;
- Finding a co-founder
- Investor expectations around co-founders
- Structuring relations with your co-founder
- Beyond salary: Remuneration options
- Successful managing your team members
MODULE 2: GROWING A BUSINESS
The module on ‘Growing a business’ is aimed at startup founders who are looking forward to scale their operations when they are getting traction for their product or service. This module will focus on different types of business models to consider and ways to build traction and grow the customer base. The learning areas will include;
- Marketing
- Digital marketing
- Product branding and packaging
- Marketing strategies and campaigns
- How to expand to other geographic markets
- How to expand to other industries
- Marketing and customer care
2. Business management
- Business structures and operations
- Production management
- Business policies and manuals
- Human resources management
- Goal tracking and performance management
- Digitalization in business
- Understanding business environment
- Building business networks
3. Business plans and models
- The Business Model Canvas
- An overview of different business models
- Developing a business plan
4. Building partnerships
- Building successful corporate partnerships
- The importance of mentors and advisors in business
5. Building traction
- Structuring growth and traction
- Tips for building traction
- Growth hacking your way to success
- Business/corporate governance for growth
- Building Strategic plans for growth
- Ethics in business
MODULE 3: FINANCE YOUR BUSINESS
The ‘Finance your business’ module is aimed at entrepreneurs who are looking forward to raise external capital. The areas of focus include;
- Fundraising for Buisness
- Financial planning
- Inventory management
- Budgeting and costing
- Into the mind of the equity investor
- Capital and partner mobilization
- Debt versus equity
- Types of capital providers
2. Pitching your business
- De-risking your startup
- How to prepare investor pitch deck?
- Tips on presenting in public
- Questions to expect from investors
3. Preparing Financials
- The investment process
- Financial valuations and projections – tips
- The Angel Investor mindset
- Developing an investment strategy
- Investing money back into the business
- Common startup challenges
- Tips for business success
MODULE 4: OPERATING A LEGAL BUSINESS
The ‘The operating a legal business’ module is aimed at founders who want to learn more about the legal implications of setting up their business and the funding concepts for a first round of investment.
- Compliance and governance such as business registration, licensing, Taxes
- Business standardization and certification
This programs takes six month.
Do you want to join us; sign up now; Email: Empower Youth In Technology