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INTRODUCTION SESSION

Welcome to The Next Economy Incubation Training

Location, Date - The Next Economy Incubation

WARM UP�

Getting to know one another...

INTRODUCTION SESSION

Welcome

OVERALL OUTCOME

LEARNING OBJECTIVES

Getting to know The Next Economy, introducing yourself and your business and gaining a deeper understanding of who you are.

Understand the program objectives, steps, channels and (time) investment needed to participate in the program;
Introduction to the community;
Know yourself through a personality test (incl. reflection);
Assess the ‘state of your business’ ;
Map your current network.

INTRODUCTION SESSION

What will we do today?

WARM UP

Introductions

GROUP ACTIVITY

Personality test

PRESENTATION

Intro to

The Next Economy

GROUP ACTIVITY

Business assessment

HOMEWORK

Wrap up & Homework

10 min

BREAK

10 min

BREAK

30 min

20 min

30 min

20 min

10 min

INTRODUCTION SESSION

What will we do today in the ToT?

WARM UP

Introductions

GROUP ACTIVITY

Personality test

PRESENTATION

Intro to

The Next Economy

GROUP ACTIVITY

Business assessment

HOMEWORK

Wrap up & Homework

10 min

BREAK

10 min

BREAK

30 min

20 min

30 min

20 min

10 min

PRESENTATION

The Next Economy

The Next Economy empowers youth in Nigeria, Mali, Somaliland, Somalia to unleash their talents, build their confidence and hone the skills they need for a successful career in a job or as an entrepreneur.

With an innovative approach we inspire, school, coach and facilitate youth to…

…Start their own business

…Upscale their business

…Match them with the job market

Who has joined in which part of The Next Economy?

Share your thoughts/ideas/experiences!

The Next Economy

“Young people are empowered to transition from education to working life through employment opportunities or entrepreneurial ventures.”

This program supports entrepreneurs just like YOU that already have an understanding of what it means to be an entrepreneur and have turned their concept idea into a validated business model.

WELCOME to the program!

This curriculum will support you on your journey from the problem-solution fit through the product-market fit.

Assess your business → monitor progress
Validate your idea → test your assumptions
Grow your business → create revenue

Incubation

Assess your business

Incubation

MODULE 1	MODULE 2	MODULE 3	MODULE 4
Welcome & Self discovery	Fall in love with the problem	Customer journey	Completing the Lean Canvas: Your Springboard to Success
What is a entrepreneurial mindset? How do I reframe situations and turn problems into opportunities?	Explore the problem you are trying to solve, the context in which it fits and who benefits from your solution	1. Understand basic principles of the Value Proposition Canvas 2. What is your customer journey / product pitch	You will put what you learnt together in your Lean Canvas, and you will complete this with refinements on your (prior) business model(s)

Incubation

Validate your idea

MODULE 5	MODULE 6	MODULE 7	MODULE 8
Finance session 1: Financial Administration	Finance session 2: Financial Models	Negotiation Skills	Market Testing
�You will learn the basics on start-up finance and receive tools to set up your own financial administration.	�We introduce the concept of financial models and how you can test different variables to optimize your finances	�We introduce you to the concept of negotiation, and become aware of how it is relevant to your business and beyond.	�We will start looking at your market and how you can test your products. We’ll create a goal and a plan and simultaneously determine success or failure of your test.

Incubation

Grow your business

MODULE 9	MODULE 10	MODULE 11	MODULE 12	CELEBRATION
Marketing & Sales	How to build my team?	�Finance session 3: Financial Planning and Investment	Business Plan	Next steps
�Learning about Digital and Analogue marketing strategies, be inspired by best sales strategies & learn to build your own	�This module is about contracting, what type of people and how to recruit� How to build a team from scratch and work like a team unit.	�In this lesson we look towards the future - what are your financial goals and plans and how does investment come into that picture.	�A finished business plan, ready to present to potential investors or other stakeholders	�Reflecting on your journey over the past 11 modules, seeing how you have progressed and looking forward to taking next steps

Workbook
Resources library

Learning resources

What do we expect from you?

Time investment:

Show up for every lesson (90% attendance needed to graduate)
Be prepared ie. homework is done
Engage in the lesson, share and speak

Willingness to learn:

Be open to change, learn from what we teach
Test new ideas in real life

What can you expect from us?

Information: Workbook, Research library
Tools: Lean Canvas model, finance models etc.
Mentoring: guidance from trainers during and after lessons

Expectations

Break

See you in 10 minutes!

Photo by Anna Urlapova from Pexels

Exercise

SPEED DATE

What is Personality Testing?
Why is this interesting for you?
What can you learn from knowing yourself?

Question - Personality Testing

Since the dawn of time, humans have drawn up schematics to describe and categorize our personalities. From the four temperaments of the ancient civilizations to the latest advances in psychology, we have been driven to fit the variables and complexities of human personality into well-defined models. Although we are still some time away from being able to do that, the current models account for our most important personality traits and can predict our behavior with a high degree of accuracy.

Personality is just one of many factors that guide our behavior, however. Our actions are also influenced by our environment, our experiences, and our individual goals. On our website, we describe how people belonging to a specific personality type are likely to behave. We outline indicators and tendencies, however, not definitive guidelines or answers. Significant differences can exist even among people who share a personality type. The information on this website is meant to inspire personal growth and an improved understanding of yourself and your relationships – not to be taken as gospel.

Our approach has its roots in two different philosophies. One dates back to early 20th century and was the brainchild of Carl Gustav Jung, the father of analytical psychology. Jung’s theory of psychological types is perhaps the most influential creation in personality typology, and it has inspired a number of different theories. One of Jung’s key contributions was the development of the concept of Introversion and Extraversion – he theorized that each of us falls into one of these two categories, either focusing on the internal world (Introvert) or the outside world (Extravert). Besides Introversion and Extraversion, Jung coined the concept of so-called cognitive functions, separated into Judging or Perceiving categories. According to Jung, each person prefers one of these cognitive functions and may most naturally rely on it in everyday situations.

Grab a piece of paper and find a quiet corner.

Describe your own personality in 4 words.

Use any words you want such as:

Fun - Energetic - Smart - Open- Analytic etc.

Share your personality with the person sitting next to you without further description

Exercise - Personality Testing

Exercise - Personality Testing

��

What were your learnings?
What was the biggest surprise?
Name the one thing that made you feel like ‘I knew that already’?
Biggest feeling of ‘that’s not true’?

The Next Economy Program

Personality Testing - reflect

Draw yourself

Draw your biggest ‘positives’

Draw your biggest ‘drawbacks’

Draw how you would work best with people around you

Draw the three things that you would love to receive coaching on

Hang your poster up and go check out the rest of the group!

The Next Economy Program

Exercise - Personality Testing

Energizer

THE FLOOR IS LAVA

�Write down...

… the name of your business
… when your business started
… what your business sells
… why your business sells that particular product/service
… to whom your business sells that product/service

Business monitoring

�

What is the business monitoring tool?�

A tool for entrepreneurs that looks at 6 dimensions of the business - such as marketing and operations - to determine what stage of development a company is at and what the next steps are to improve.

https://docs.google.com/spreadsheets/d/18ZajF7S7OOYmbglRmQq279QTI-8JNuuK/edit#gid=517751131

We will look at your business, now (at the start), halfway through the incubation period and after! That way you get to see your own progress and can continue using the tool afterwards.

Business monitoring

BUSINESS MONITORING

How to fill in the tool?

Basic information
Select the most appropriate stage for each of the 6 dimensions (row 42 - 47)
Tool will automatically generate a graph to display the stage your company is at.

Incubation

Basic information

Incubation

Select the most appropriate stage for each of the 6 dimensions (row 42 - 47)

Incubation

Tool will automatically generate a graph to display the stage your company is at.

Incubation

Incubation

We have identified 5 stages that companies go through as they grow, namely:

1) Conceptualisation - At this stage, an entrepreneur has a business idea with a high-level overview of their product, target customers and how they can make money. However, their ideas have not yet been formalised or assessed for feasibility.�

2) Validation - At this stage, entrepreneurs have been able to develop a prototype of their product/service (a "most viable product") and tested this in the market to get customer responses on the products value. Businesses at the validation stage are becoming registered and starting to structure their internal processes and administration.�

3) Proof - At this stage, the value of the product or service has been proven in the market. The company is no longer relying on prototypes and single customers, but is setting up real production and is attracting more and more customers outside of their own network. Their business model has proven to be viable.�

4) Profitability - At this stage, companies are gaining sufficient traction in the market and efficiency in their operations that they are making a profit. Profits are reinvested to grow staff, improve product offering, and enhance operations in an effort to professionalise.�

5) Scale - At this point, a company has gone through their original phase of professionalisation, and directs their energy to focus on scaling their business. This can be done by expanding market share or entering new markets. It will require a high degree of efficiency to ensure a continued viability of the business model as they expand. Scaling operations also requires significant investment and a company will need to have high levels of retained profit or access to external capital to facilitate this.

Exercise - fill out the tool & reflect

�

What was your biggest take away?
Was there anything that surprised you (negatively or positively)?
If you look at these items, what are the top 3 priorities that you would expect extra help or mentoring on during the incubation track?

Network Mapping

Network is super diverse, for your business its easier when you know exactly who is in your network but even more importantly what these people mean to you.

Explain here the difference between B2B and B2C (Business 2 Business and Business 2 Consumer) → It doesn’t matter just yet how and in which category we put them just yet...just write down anyone you know.

What is this tool?

A tool to create a visual overview of your network (the actors that might have an influence on your business), understand which ones you know already and which ones you don’t and understand how they relate to each other and to your business.

The end result shows all the actors involved, their relationship and their level of influence on the problem and the solution.

Why do we use it?

Creating a Network Map will trigger thoughts about your role in relation to the stakeholders involved. It will help you to identify opportunities for new connections beyond the “usual suspects” in your network and it can help to ensure all perspectives are taken into account during the design process.

Network Mapping

Step 1. List down the categories of the people in your business’ network: the different stakeholders that have an influence on your business or your product/service.

Step 2. For each category, write down all the names of actors (those can be people or organizations) that you know of. If you already have contact or know in person that person or organization, underline that name.

Step 1. List down the categories of the people in your business’ network: the different stakeholders that have an influence on your business or your product/service. Some examples of categories are:

Current customers: all people or businesses that you’ve sold your product/service to in the past week
Recurring customers: all people or businesses that have come back more than once to purchase your product/service
Future customers: all people or businesses that would buy your product/service, as it solves a need they have
Supporters: these are people that are not necessarily interested to purchase but to support you (supporting you financially, spreading the world, becoming your ambassador)
Early adopters: these are your first ever customers
Investors: people that are interested in investing money in your business or produce/service
Service providers, Competitors, Incubators, Accelerators, Universities, Knowledge institutes, Policy Makers etc: any other category of actors that influence your business

Step 2. For each category, write down all the names of actors (those can be people or organizations) that you know of. If you already have contact or know in person that person or organization, underline that name.

Network Mapping

Step 3. Copy the names in the circle of the right color. Keep the names underlined if you have already contacts with that stakeholder. The size of the circles represent their importance in relation to the others. For instance this organisation is bigger than the other because the relationship is stronger.

Step 4. Visualise how the stakeholders relate to your business and to each other by using lines and/or arrows.

xxx

Your business

Network Mapping - example

Vegan

students

Healthy students

Dairy intolerant students

Business men & women

non-students

Students

UNI campus

University of xxx

Farmer: Ali

Biologic supermarket

Canteen of Meditation center

My family

My Bakery

Offices canteen

Farmer: Rose

Stand leaser

Food blogger

Mary J

Electricity company

Water company

Business school

My Bakery is a small food stand that just opened inside the university campus. It offers, fresh and offers organic bakery products.Recurrent customers: students from the universities nearby, that do not have other alternatives in the campus for fresh bakery products. Also some students that want to eat healthy, already buy My Bakery’s products.

Future customers: For now my bakery is mainly advertised within the campus. But I would like to also have as customer that are not students. I think that people that live in the neighbourhood could definitely buy at my shop as there are not bakeries offering the same products nearby. Also, I think that students that are not vegan will start buying my products soon, as they are fresh and I am planning to offer discounts to students. Also, I think that some businessmen and women from the neighborhood nearby might be future customers, as they usually buy their lunch from a shop nearby their office. Also, I think that some offices that have canteens might be interested in providing my products to their employees, as there is now the trend of providing healthy food in canteens.
Supporters: Because of its healthy products, the universities nearby are supporting it by advertising it with their students.
Service providers: I buy the raw materials from a farmer called Ali and a biologic supermarket that delivers to me the products. Next week I am going to contact another farmer called Rose, she currently provides fresh fruit and vegetables to the biologic supermarket. If I could by directly from her, it would be much cheaper. Also, the company that is leasing me the stand for the shop is another service provider of my business, and they deal with all the other service providers (water, electricity etc)
Early adopters: My family members started buying my products. Also, the canteen of a meditation center nearby buys my products in quite a big quantity, and then resell them to their customers. Also, I want to approach a famous vegan local foodblogger, Mary J, to ask her to be the ambassador of my products.

Category:
Current customers

HOMEWORK

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