Business Lab: Part 4
The remainder of the training session focused on each participant’s individual business. We were taught that the creation of full detailed business plans is not a procedure that works for each entrepreneur. As such an updated method is to make use of the Business Model Canvas.
The canvas allowed us budding entrepreneurs, all of whom are in different stages in the planning and execution of our businesses, to zero in on our strengths and weaknesses while simultaneously identifying key matters. These include, key partner (including competitors), target market, key resources, cost structures and revenue streams among other areas.
Using the canvas, the planning process is easier to be scrutinized and other areas and important details can be built around the core of one’s business. You can apply the business model to you business. Download here: Business Model Canvas
Each participant was then evaluated by an expert panel of money lenders (namely from the local Agricultural Development Bank) and innovation specialists in business creation and sustainability.
The following video highlights the activity and provides feedback from the participants. Click the picture link above for more. It is hoped that you, the readers, many of whom are agri-preneurs in your own right find this serious of post on the Agribusiness Lab to be of great use and that you pass on the knowledge to your colleagues and networks.