Best Ideas 2020 features all the nominated entries submitted under ‘Submit your Idea’ category. All the entries consist of innovative solutions or propositions for an enterprise that champions the Sustainable Development Goals. They can be on the conceptual, planning, or start-up stage.

Two Goals One CUP

Stage of Idea conceptual stage

Explain your idea in details:

The main objective is to build a development environment designed to structure Transit Oriented Development (TOD) projects financed through Social Impact Bonds (SIBs). The aim of CUP's core functionality is to provide engines for TOD opportunity identification, strategy outline, performance evaluation, risk assessment, SIB instrumentation and financing, and institutional management and coordination. The main innovation behind this approach is that it can be leveraged by every stakeholder involved in the process. Policy makers can use CUP to collaborate with service providers to identify opportunities and attract investors to fund defined projects. Banks can use the CUP framework to develop much needed risk assessment methodologies for projects financed through Social Impact Bonds. NGO's and academia can also make use of this engine for research purposes and increased oversight and accountability. While it is unlikely that the exact model of implementation that worked in one context will work in another, CUP will strive to provide the general policy ideas, tools, relationships, and processes that characterise a successful implementation in different international contexts.

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Expected impact of your idea on sustainable development

The ultimate measure of success of this idea is to successfully implement a Transit Oriented Development project financed through a Social Impact Bond. To achieve this the CUP framework will have to work with government institutions around the world to identify the perfect TOD candidate for implementation. At the same time, CUP will have to engineer a SIB that is irresistible for large investors. The key to the later is creating a novel way to assess risk, since development banks and financial institutions don't quite understand how to measure the risk involved with a SIB. The success of a TOD project is very easy to measure. Some of the indicators used to measure the success of a TOD policy include employment rate, transit ridership, reduced traffic congestion, car accidents and injuries, property value stability, foot traffic and customers for local businesses, and ability to maintain economic competitiveness. SIBs have traditionally focused on small-scale projects, increasing the size of a SIB offering beyond the typical $10-20 million can be considered a success milestone toward higher investment in sustainable development.

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Plans for implementation and sustainability

The CUP framework is expected to be made available for free, allowing for commercial use based on a royalty model. Additionally, the development team will support this business model with consultancy services. Since this project is at the idea stage its main financing source will be seed/angel investment. The core CUP team of this project will include software and financial engineers, risk and policy analysts. CUP will then collaborate with federal, state, and local government agencies as well as NGO's and service providers to identify potential TOD projects. At the same time, CUP's finance team develop a Social Impact Bond framework that fits the TOD funding requirements. Last but not least, CUP's development team will combine the work done by the TOD and SIB teams into a framework that will be made available for free under a royalty-based license for commercial use.

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Your profile

I am an economist by training and humanist by passion. I am an independent analyst who invests and trades cryptocurrencies for a living. In 2013 I found out about the Transport Oriented Development standard, a powerful tool to help shape and assess urban development. One year earlier I won the Gifted Citizen Award by Ciudad de las Ideas Mexico for a project that outlined a collaboration framework between civil society, academia, and policy makers. Finally in 2014 I learned about Social Impact Bonds, an innovative pay-for-success financing scheme that leverages private capital to deliver positive social outcomes. Since the it has been my dream to combine the insights of the Transport Oriented Development standard with the financial power of Social Impact Bonds to help build better cities.

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October 21, 2020 18:00

My dear Campus [email protected], I am very much grateful for your immense support while we are together in this campus. I appreciate your votes and comments on my idea and will never take this for granted. More so, while we have few days to vote, comment on our ideas in preparation for implementation phase of our ideas, I am sharing with you as indicated in one of the articles on this campus, some of the things that can likely put an end to our startups. The essence is for us to guide against them as possible as we can if we want to change the world through our businesses.
Often times we only consider the factors that lead to the success of a startup; however, these are the common factors that we may often overlook that lead to the failure of startups:

1. Being inflexible and not actively seeking or using customer feedback
Ignoring your users is a tried and true way to fail. This was the number one reason given for failure amongst 32 startup failure post-mortems being analyzed. Tunnel vision and not gathering user feedback are fatal flaws for most startups. For instance, ecrowds, a web content management system company, said that: We spent way too much time building it for ourselves and not getting feedback from prospects.

2. Building a solution looking for a problem.
Choosing to tackle problems that are interesting to solve rather than those that serve a market need has often been cited as a reason for failure.

3. Not the right team
A diverse team with different skill sets has also been cited as being critical to the success of a startup company. Team deficiencies have been given as a reason for startup failure almost one quarter of the time.

4. Poor Marketing
Knowing your target audience and knowing how to get their attention and convert them to leads and ultimately customers is one of the most important skills of a successful business. Yet, in almost 30 percent of failures, ineffective marketing was a primary cause of failure. Oftentimes, the inability to market was a function of founders who liked to code or build product but who did not relish the idea of promoting the product. The folks at Devver highlighted the need to find someone who enjoys creating and finding distribution channels and developing business relationship for the company as a key need that startups should ensure they fill.

5. Ran out of cash
Money and time are finite and need to be allocated judiciously. The question of how should you spend your money was a frequent conundrum and reason for failure cited by failed startups. The decision on whether to spend significantly upfront to get the product off the group or develop gradually over time is a tough act to balance. The team at YouCastr cited money problems as the reason for failure but went on to highlight other reasons for shutting down versus trying to raise more money writing:
The single biggest reason we are closing down (a common one) is running out of cash. Despite putting the company in an EXTREMELY lean position, generating revenue, and holding out as long as we could, we did not have the cash to keep going. The next few reasons shed more light as to why we chose to shut down

I hope you will derive some benefits from this.

Finally, I have voted and commented on your idea; please consider supporting my idea with your votes and comments @https://www.entrepreneurship-campus.org/ideas/26/17094/

Best of luck in your implementation.

October 20, 2020 17:09

My dear friend @Delfin, I honestly thank you for the support received from you on this campus. Your votes and comments on my idea and that of other campus members I suppose, have gone a long way helping to review and make our ideas solid and ready for the implementation phase. However, with these few days left for us in this campus to encourage one another on this entrepreneurship journey and with the understanding that many of us will likely launch our ideas at the end of our time in this campus; of course being what is expected of us as an outcome of the time spent on this campus, I am sharing with you yet another interesting post from one of the campus articles on What to Do Next When We are Hustling and It Still Has Not Happened for Us

First, it is natural to think that everything we plan to do with our companies and businesses will go exactly as planned. Unfortunately, most often it is the opposite. So, please understand that there is the problem with the hype about hustle. People have this mistaken belief that with enough hustle, grit, grind, tired Instagram platitude, we can achieve any outcome. But that is false. It is a nice fairytale. But it is false.

Sometimes things are not ready to happen yet because there are literally millions of other factors at play in the world that we cannot see. We cannot produce a miracle no matter how hard we hustle. So, the best is to stop trying to force things, when we find ourselves in this bridge my friends.
However, this does not mean that we should aim low, or that we should not set goals and work towards them. The problem is not with goal setting or ambition. The problem is what to do with our emotions during the in between phases, when our reality does not match our grand vision for life or for our companies and businesses.

Secondly, we must learn to become more comfortable in a state of waiting. Not hoping without planning. Not ambivalence towards the results. But simply putting in the work, then waiting for the results to come in whenever time they are ready to come.
Sometimes life just takes a while to develop, and no matter how hard we push, it is just not the right time for things to pop off for us. Force does not work as a long-term strategy for progress. Since we cannot force anything to happen, the only thing we can do is adjust our perspective. We have to change the way we think about waiting. We need to learn to shift from the mindset that associates waiting with pain and discomfort, to looking at the future with optimism and without obsessing about what we are lacking in the present.

Now what is the advice:
When our hustling does not seem to meet with our vision for our businesses and companies, we need to continue to work hard getting things done. Yes, hustle more. That is obvious. But do not obsess over timetables for when things must happen. If we do that, trust me, we will be disappointed almost every time. Friends we just need to put in the work and let life unfold.
Remember to always give the universe space to do what it can do while we do ours, let there be no high blood pressures, depression and getting worked up. And when the thing we want finally does happen for us, let it be a happy, albeit not entirely unexpected surprise. In other words, chill, and share this with a friend who needs to chill.

Dear friend, I hope this helps you in your implementation phase

Best wishes in this journey and in your implementation. Stay positive on the competition. It teaches us a lot of things to keep us sailing to the beach.

I have voted and made a comment on your idea or project; so please should you come online soon, do consider supporting my idea Eduheal with your votes and comments @ https://www.entrepreneurship-campus.org/ideas/26/17805/

Thank you for supporting my idea with your votes and comments

October 18, 2020 22:17

Hey hope you are doing well, a little excerpt from Brain vs capital
In the case of the entrepreneurial concept for Ikea or Aldi, you could also ask yourself, Why didnt I think of that But if we look closer, we see that very fundamental considerations stand behind these deceptively simple ideas.

I would really appreciate your vote. Have a great day.

October 18, 2020 15:09

Greetings from Kazakhstan! I have found some interesting materials, and I would like to share them with you
1) Undoubtedly, funds will be needed for you (as you already said) to complete this wonderful idea on a full scale. I would like to advise international funds such as The Common Fund for Commodities (CFC), Call for Proposals: Actions to Boost the Development of Finance Markets for Social Enterprises GroFin: Small and Growing Business Fund. You can also take part in contests such as School Enterprise Challenge: Join the movement to build Business Skills!
2) I would recommend you to read a number of books that will contribute significantly to your knowledge about business. They are "The 7 Habits of Highly Effective People: Restoring the Character Ethic" by Stephen R. Covey, "How to Make Big Money in Your Own Small Business: Unexpected Rules Every Small Business Owner Needs to Know" by Jeffrey J. Fox, and "Think and Grow Rich" by Napoleon Hill

I have voted and made a comment on your idea or project; so please should you come online soon, do consider supporting my idea BioFSM with your votes and comments https://www.entrepreneurship-campus.org/ideas/28/19080/
Thank you for supporting my idea with your votes and comments
Best regards
Dilnaza

October 18, 2020 15:04

Hello! Your project is extremely innovative, but I would like to suggest some specific advice. Some of them require making choices. And often this choice is really baffling.

1. MVP versus Ideal Product
1.1. "When you launch a project, you can never tell in advance how the market will react to it. Your vision for your product is a hallucination. No need for fantasies. Start with MVP (Minimum Viable Product) and then use Lean Startup (a set of short iterations). This is the only way to create all successful companies. As a result, you yourself will be surprised to see the business you have created. "

1.2. "People don't know what they really need. A poll from the late 17th century showed that passengers desire faster horses. Only Ford, the genius of foresight, gave the world a puffing iron monster called a car."
"No user in the world saw an iPhone until the genius of Steve Jobs completely, from start to finish, formed and brought to the market the perfect product. A few months before the iPhone was released, Jobs ordered a complete overhaul of the product. He did this only because the smartphone that was almost gone into production did not suit the only user - Steve. Smartphones existed before the iPhone, and they all failed. The reason for the failures is simple - the electronics weren't good enough. Do you know what these were the firms and models? It is true that no one remembers these names. "
"Clients simply are not able to desire something completely new - they only know the familiar things."
"For a fund like Sequoia Capital to invest in you, you must have a Strong Vision. Your idea should be bold, strong, initially worked out, breaking the established stereotypes. Therefore, initially she will be hostile and resisted. Forget about any user, even a Stanford professor, giving you product advice. People will call your service gibberish. This is normal for a disruptive startup. The new scares people. But you mustn't give up. "
In general, don't listen to customers. Believe in yourself. You must know what to do.
Such is the advice from respected investors, backed up by facts. Very reasonable. Old Steve can't be wrong.

3. Singles versus team
3.1. Alone, you are doomed. The Y combinator (Harvard among accelerators) simply does not accept startups with fewer than two team members. And for good reason. First, if you are alone in a team, then you cannot convince even your friend to believe in your product. Needless to say about the whole market. Second, the to-do list for a successful launch is too long for one person. There will be neither time nor competence. You will have to program, draw designs and sketches, prepare pitches, presentations, engage in networking, accounting, open a company, and understand contracts. Isn't the list too long even for Alexander the Great?
Plus, Bill Gates had Paul Allen. Larry Page has Sergey Brin. Jobs has Wozniak. That says it all. Need more arguments? But:
3.2. Nginx is a complex piece of software written by one person. Dropbox, whose capitalization exceeded 10 billion, Drew Houston launched alone, and then frantically searched for a co-founder. And finally, Nikola Tesla - this name alone says a lot.

You should feel that you can turn the world around even alone. Otherwise, you won't succeed with the whole team.

4. To take or not to take money from investors?
4.1. You will be committing a crime against your project and against your team if you do not take the investors' money at the moment they are offered to you. Paul Graham. Startup guru. Master Yoda Y-combinator.
"Markets move in a sinusoidal manner. From time to time they are in a fever with the financial crisis. Force majeure happens. These are tough times. Even if you are doing well financially now, take the money. Then they will press you, but nobody will give you money. The project may show negative dynamics in the future. A financial cushion made of banknotes will help you survive difficult times and overcome the "Valley of Death". Otherwise, a crisis will break out, and you will die with your 100% of the company. "
As he looks into the water. Valuable advice. We must follow. But:
4.2. "Don't take investors' money. Fight for the project to the last ruble without surrendering to greedy financial tycoons. Develop on your own as long as a crumb of bread remains in the house. The percentage of your company that needs to be given back in return for investment is too valuable. Today you will give 35% for a million dollars, and tomorrow you will be begged to take 100 million dollars for 3.5%.
"You have to be an idiot to mindlessly throw away a share in a project for some candy wrappers that will still go down the drain."
And remember: "The temptation to give up will be especially strong shortly before victory." Indeed, even Buddha could not have put it better.

5. At what age to start?
5.1. "A million dollar business on the network can only be built by a person who does not yet know that this is an unattainable goal." A successful startup is always a step beyond the existing one, it is building a new world. Only young people have a fresh perspective on things. Only young people see problems that people over 25 simply do not have. Can you think of SnapChat at 40? Names like Zuckerberg, Page and Brin, Kalkanis are clearly signaling the market to invest in the young.
5.2. "An old horse will not spoil the furrow." Young people learn from their mistakes for a long time, and this process is costly for the company. Building a successful business requires wisdom that comes only with experience. Examples of Jack Walsh, Larry Ellison, who built a business at only 35, show the benefits of experienced people. Statistics show that people over 40 are 80% more successful than young people.
"When we invest in young people, our money goes to their education. The team fails, the business will collapse. Then they start a new company, using the experience gained. After several similar iterations, the older founders finally have a successful business. The wise investor will only invest at this moment. "

6. Do only what you know well. Versus. Discover the unknown: treasures are waiting for the horizon
6.1. "Launching a startup is like jumping off a cliff and trying to build an airplane in flight." Reid Hoffman (LinkedIn Creator, Billionaire, Investor). Throw yourself into battle, do the incomprehensible. In the modern world, competition is so intense that all known problems have already been resolved. If thousands of people know about the problem, then you do not have the advantage of a pioneer. The largest companies pay millions of analysts to report known issues. After that, the giants cast thousands of their employees to solve these problems. Everyone wants to make money. You cannot compete with Google. Therefore, tackle only those problems that analysts will never know about. How to do it? Only by engaging in a completely new direction in which no one has experience, including you. You will be the first to gain experience in the process.
6.2. Do only what you know well. Successful start-ups are obtained solely on the inside, on a deep knowledge of the industry. Long-term work in some areas gives a person an understanding of problems that others simply do not see. You need to quickly overcome the "Valley of Death" and make a profit. It is an unaffordable luxury to waste resources on experimentation. For every Columbus, there are thousands of seafarers still feeding fish at the bottom of coral reefs.

7. Know your monetization or just attract users
7.1. Before starting the project, decide on how the service will make money. Do you have a ton of users, cool retention (return) and insane growth that Facebook never dreamed of? Wait to rejoice, history remembers a ton of these failed companies. As a rule, they sell a ruble for 10 kopecks. For example, free services for uploading pictures and inserting to forums, services for free uploading files - such projects are rapidly gaining popularity, but, like two-hundred-kilogram boars, they constantly consume the capacity of server disks and the bandwidth of your communication channels. Soon, losses start to amount to hundreds of thousands of dollars. And so it will be until you run out of money. After all, closing such a traffic project for a startup is worse than stepping on your throat.
More examples - YouTube's appetite was reaching a million dollars a day before it started bringing in the first cent. It's good that it was acquired by Google, which had that kind of money. A lot of YouTube's competitors just went broke. Or recall Groupon, which sold other people's services at half price - soon restaurants, whose revenue fell sharply, refused to serve customers at half price.
7.2. The main commandment of Silicon Valley investors is that a project should focus on only one thing at a time. Growth or monetization. The combination is equal to death. Making a profit from a project that has no users is problematic. So forget about monetization and only think about user growth and retention. We will give you the money. Look who has taken over the Internet now - giants like Pinterest, which has reached billions in capitalizations without even thinking about making money. You know, when you're big, they just buy you for that. As was the case with the hopelessly unprofitable Tumbrl (Yahoo bought it for a billion). In our world, it is important to be a big hippo. Nothing else matters. Instagram, SnapChat, WatsApp, Viber and others like them. There is a tendency that is criminal to ignore. The rest of the world just doesn't understand anything about the internet. Just create a project that users will love, and the money will come to you.

8. Is a technical director needed right from the start?
8.1. From the very first day you found a startup, you need a good CTO. Better if it is a genius with Asperger's syndrome. A quiet type, avoiding people and spending the whole day at the computer simply because he has nothing else to do. Such a person can hack the Pentagon network in three days, asking for only two burgers and a two-liter bottle of Coca-Cola.
If you start without those. director, then your project will fail. You just waste a lot of time, initial motivation (fuse is very important), but you can never do cool tech stuff, and your service will go down at the first load. You will have to rewrite all the code, and this is at the moment when the money has already run out, and competitors saw your takeoff and copied your service in two and a half days.
Freelancers will begin to blackmail you, realizing how much you need a new function, and will take the project hostage. One crafty freelancer can suck a hapless startup's wallet dry. As a result, the latter will go around the world with a cart, taken away from the nearest supermarket.
Quality paid development is a utopia. For example, Indians (inexpensive literate freelancers) confuse a footer with a header. Think for yourself, your English is a foreign language and theirs too. Broken phone in a square. Belarusian developers will take money and disappear, realizing the opacity of legal boundaries.
After all, there are many more gifted technical directors than there are good entrepreneurs with ideas. I will tell you exactly. Just look at GitHub - how many talents there are who mold beautiful dummies, and do not find use for their technical genius. They need an entrepreneur with an idea, they themselves are looking for such.
8.2. Why do you need a CTO? You can always hire a freelance student or start a WordPress startup like Groupon did. Jumla to help you. Are you not talking seriously? Are you a serious entrepreneur yourself? Most of the hypotheses are tested with DruPal.
Pinterest was made by non-tech guys. Yes, they changed several development teams, but they knew what they were doing and in the end they won. As the project grows, those. You will need a director, but first you need to do more realistic things. You can't find a good programmer during the day with fire. Skilled guys work for large companies. Headhunters from IT giants are setting up surveillance and round-the-clock surveillance of the homes of specialist coders. As soon as programmers step outside their home, they are immediately seduced by multi-million dollar contracts. Recruiters shake puffy checkbooks in front of them and even show them pictures of yachts that will become the property of programmers after just three years at Google. So don't even dream. Look, the Silicon Valley forums are filled with sobs from founders who can't code. It gets to the point where founders with a design or economics background start learning Ruby or Python themselves. There is nothing to do. The best way out is the friendly guys from India. Take it inexpensively.
Such is the advice. Sounds reasonable. Looks logical, especially if you remember 8.1.

9. Work with or without rest
9.1. Work hard around the clock, otherwise you will achieve a result called "nothing." Bloomberg, who became a billionaire and mayor of New York, early in his career at a brokerage firm worked even during lunchtime, when everyone else went out to eat hot dogs and drink coffee. How many of his colleagues do you think became millionaires? That's right, only he is alone.
In the Y-combinator, it is recommended to close at home and not go outside in the first couple of months of work on the project. Don't go out at all. Order food at home and invite housekeepers. Of course, do it over the Internet.
Do you have a family or a girlfriend? The startup is prohibited from knowing these terms.
9.2. Strike a balance. Mandatory time for rest, family and friends is necessary - this will allow you to collect your thoughts and simply increase your work efficiency.
Do you know the story about the driven horse? Or about sharpening an ax. Two foresters argued who would cut down 10 larches faster. One rolled up his sleeves, and only the chips flew. And the second will chop, chop, and then sharpen the ax. So the second one won. It says a lot.
Not only will you be left without money in case of failure, you will also lose all your friends and family. Think about it. The moral support provided by the family cannot be overemphasized.

I have voted and made a comment on your idea or project; so please should you come online soon, do consider supporting my idea BioFSM with your votes and comments https://www.entrepreneurship-campus.org/ideas/28/19080/
Thank you for supporting my idea with your votes and comments
Best regards
Dilnaza

October 12, 2020 11:59

Dear fellow entrepreneur,

As we are entering the last month of this competition, I want to share with you several things that I learned throughout this whole journey.

I figured out that PURPOSE is the only thing that drives a business. When the purpose is gone, that's when growth stops. So I want to encourage all of us to go back to the basics. Ask ourselves, what drives us to start this innovation? What is our deepest desire? And why we want to do it? I hope that this piece of advice can help you as well in your journey, and wishing the best of luck for you

PS: We are still looking for some comment and feedback for our project. Perhaps, you could drop by and share your thoughts? As we only have limited voting time a day, We'll make sure we vote one more time for your project if you drop a comment :)

Here is the link to our project
https://www.entrepreneurship-campus.org/ideas/26/17993/

Best regards,
New Revolution

October 10, 2020 23:59

Dear friend,
It was indeed a long Competition but the journey we have ahead of us is more exciting. Sustainable development should always be our first priority. Let/s all come together, unite and make the world a better place for us and future generations. Your idea / project is just awesome. Being a social entrepreneur requires a lot of sacrifices and your passion and drive will make your business to succeed.
I am inviting you to support me with comments and to also support other entries to get your bar moving before we reach the finish line. Read the Campus BLOG for more details! You can support my idea Building The Infrastructure For African Culture. at:
https://www.entrepreneurship-campus.org/ideas/26/18576

Wishing you all success in your entrepreneurial endeavours.
May your new business flourish, may you reap your rewards and may you reach your dreams.
Good luck with your new business!

Kind regards.

Umar Imam
CEO / Co-Founder
Afrik Designers brand.

October 6, 2020 00:37

Greetings from Nigeria once again.
I hope you are doing great?

Dear fellow campus member,

I find your project highly innovative and needed in such a time as this, and I thought to stop by and check on your progress thus far and must say congratulations for your efforts so far.

We all need to put in more efforts to achieve our dreams. So I just wanted to say that you keep up and be encouraged to do more.

Entrepreneurs make good use of opportunities to create new businesses and turn them into gains.
So they offer new and slightly different things. Such entrepreneurial spirit strongly contributes to the modernization of our economy.
Every year we see new products and technology.
All these products and technology aim to satisfy human needs in a suitable and beautiful way. Your idea is great. It takes just one idea/project to transform the world. As you keep working hard towards your dreams and to add your quota in the improvement of the world, I wish you the very best. Thank you very much for implementing this wonderful idea.

And let\s I forgot, I wanna use this medium to appreciate your immense contribution to the campus and to my idea in particular, I request your continuous support.

So finally before I go I would like to ask you.
How Do You Manage Risk
And Uncertainty In Business?

Suppose you about to launch a new product into the market and your initial survey indicated a 70 percent probability of achieving your desired market share. You conducted another survey and the results indicated only a 55 percent probability. Will you proceed with your initial market entry strategy? Call off the launch? Or Conduct the third survey?

I\m Inviting you to Contact me, on my page to learn strategies for managing risk and uncertainty in today/s business world. Will be expecting to hear from you soon.

Thank you!

With kind regards,

Umar Imam
CEO / Co-Founder
Afrik Designers brand.

October 6, 2020 00:37

Dear friend,
Greetings from Nigeria,
I'm very happy to be with you in this competition and I will say to you congratulations and welcome to the campus I wish you all success in this College.
In this fight for a sustainable future, what we need is innovation; something which is not necessarily new, but which makes us look at things from a different angle.
I believe this is one of the major motives of this community which we are a part of. Taking one step together hand in hand towards our goal is the only way we can achieve it. So I wish you the very best in this endeavour of yours and hope to see you together in the new tomorrow.
Today I wanna shear with you some tips on How To Future-Proof Your Business During A Recession.

No business is immune to the effects of recession, but you can take this steps to protect your business.

1/ INVEST IN TECHNOLOGY.
While this depends on the type of the business or product/s, incorporating technology will help you streamline will help your processes and make business more easier.

2/ CREATE A RUNNING LIST OF EXPANSION IDEAS.
The truth is you can/t predict the future, but the more ideas you have the better. Start Now! Create an list of ways your business could adjust to the needs your customers may have during a recession.

3/ CREATE AN ACTION PLAN.
Don/t wait until you notice business is slowing down before you take an action.
Create a go- to- market plan and of course, a financial plan.

For more information please do not hesitate to contact me via my email [email protected] and follow me on Twitter @oneyoungperson / Good luck with your work and wishing you all the success on your journey. Please try to keep in touch.

Thanks!

With kind regards,

Umar Imam

CEO / Founder
Afrik Designers brand.

October 3, 2020 19:31

Dear campus [email protected], As we are gradually coming to the end of this competition, one important thing I want us to consider is that the organizers of this competition will appreciate if we forge ahead to execute and sustain our ideas with the necessary skills acquired from the trainings, others inputs and from campus articles; and that is whether we emerged as the eventual winners or not. In view of this and in addition to my other previous comments on your idea, I am sharing with you the 5 important Characteristics You Need to Sustain Your Startup as enlisted in the one of the campus articles.

While most entrepreneurs will say that passion is at the very core of sustaining every new business. And although it could not be agree more that passion, motivation and will are one of the most pivotal characteristics for keeping a business alive, beginner entrepreneurs should have additional 5 significant characteristics in order to get a startup company on its feet and sustain it.

Abundant Patience
In the early stages of your business, it is highly unlikely that everyone is going to know what you are doing and be very open and supportive of it. With a little bit of luck your business idea is going to reach fame in no time, however, most of the time, you have to become friends with time that is passing by. Patience is key to sustaining your startup. Take some time to stop and smell the roses. Just because your company is not evolving at the speed of lightening does not mean it is failing.
If you are trying to build a brand that is going to provide solutions to people everyday problems, and you are trying to implement this solution into their lives, you have to accept the fact that it will take some time. Your future fans and clients will probably take a while to embrace your new company, and in order to stand the test of time, you are going to need a lot of patience.

Precise Focus
While it is important to remain focused on your business goals and work on pushing your startup in the front rows of the industry, you should be focused primarily on customers. In other words, become customer obsessed. By all means, do not become so obsessed that you will go about changing your brand and doing whatever it takes to please every single person. Stick to your vision, but keep your followers and clients in mind at all times. How do they feel about your brand? How can your unique vision help their lives?

Persuasive Communication Skills
The truth is that communication can either make or break your business, in several different ways. You may have a supervision, an authentic idea, and a business model that is going to hold up no matter what, but if you are not a good communicator as an entrepreneur and do not know how to portray your company to others nobody is going to want to hear about your startup. You need to be able to practice communication and do it on the regular. Whether it is inside of your company, communicating with your employee or partner, or outside of the company, pitching your ideas to third parties, you are going to have to learn to use words to get into people minds.

Envisioning
Now, you might be thinking, who starts a company without having a vision? Most entrepreneurs have some kind of a vision, but we are talking about the kind that is going to push you through the hardest of times because you can see so far, there is no stopping until you get there. In order to sustain a startup, you need to have a vision, not just for the present or close future, but for the next 20 years. Once you reach your first set milestone, you should not just sit around and wait to see where the road will take you. Your vision should be your guide throughout the entire process, and once you reach each milestone you are going to find it all familiar because you have envisioned it from the very beginning.

Cautious Management
No matter what you start off with, pennies or millions, you should be very careful when it comes to your assets. Startups are a gamble to a certain degree, but great leaders know how to spend and when to invest their money. They do not waste a dime, and they know when they should invest millions when necessary. Get educated when it comes to finances and startups in order to avoid making bad financial decisions that will drive your business to the ground.
We consider these five characteristics predictors of future success. They might not always determine the outcome of your startup because there are various other factors to take into consideration, that might influence the sustainability of your business, and that might not always be in your control. But, these five traits are important to have in order to control the situations and aspects of your business that should not be left up to fate.

Dear friend, I hope you will derive some benefits from this. Also, please do create time and take the campus online trainings as the trainings are there to help campus members understand what it is to be an entrepreneur.

Finally, I have voted and commented on your idea; please consider supporting my idea with your votes and comments @https://www.entrepreneurship-campus.org/ideas/26/17094/

Best of luck in your implementation.

September 30, 2020 16:00

My dear friend @Delfin, Having come a long way in this campus together and eventually gradually getting to the end of the voting and commenting phase of this competition, I strongly believe that having taking the campus online training, read through the articles and taking into consideration inputs from fellow campus members as well as equipping ourselves with the necessary skills and knowledge from this campus, we are ready and perhaps most of us are already pitching our businesses and I think that it will be worthwhile sharing with you this article on how to pitch our businesses for possible investment.
It is much easier to talk to an investor if they understand what your company does. As a founder you will have to pitch your startup countless times. To be effective, your pitch has to be clear and concise.

In this post gotten from one of the articles in the campus, the pitch creation process has been condensed to answering seven questions. If you can answer all seven questions succinctly, you will be well ahead of the curve.

The Seven Questions

1. What do you do
Start with the name of your company and what it does. For example, Social cam is a mobile app that makes it easy to take videos and share them with friends and family. There is no need to set up the problem, you can just get to the point.
Too many people spend too much energy trying to make their idea sound impressive. It is ok to keep it simple. Actually, it is preferable. You want to explain what you do in the simplest language possible. This needs to be predigested. Your elevator pitch should be like baby food.

Your goal when answering this question should not be to have potential investors understand your whole business but rather make them interested enough to ask follow up questions.

2. How big is the market
There are two ways to get market size. If you are entering a pre existing space, like small business banking, you can research it. If you are creating a new product or space you can estimate the number of customers that would want your product and approximate how much you could charge them.

3. What is your progress
What investors will be trying to understand here is how fast you produce work. What is the ratio between what you have done and how long you have been working on it
They want to feel impressed with how much you have done in the period of time you have had to do it. This can apply to a company that is one week old or ten years old.

4. What is your unique insight
This is similar to What problem are you solving, but the bar is higher. What investors really want to understand is what you know about the problem that everyone else does not. This is usually derived from multiple conversations with customers, deep analysis of current products in the space, and often personal experience.

5. What is your business model
There are two types of startups, those that know how they will make money and those that have not figured it out yet. By and large, if you are in the second category you are going to either make money by growing big and turning on advertising or you are going to copy the predominant business model in your space. A small subset of companies in the second category will propose a new business model that makes sense given how your product changes the market.

6. Who is on your team
Potential investors are only interested in a few things, How many founders, Is there a technical cofounder, How long have they known each other, Is everyone working full time, What is the equity split among the founders, hopefully equal or close to equal

7. What do you want
There is no need to dance around the ask. If you want people to invest, ask. If you have a question, ask.
Make it easy for investors to help you. They really want to help you.
Once you have answers to each of the seven questions your challenge is to make the answers as clear as possible.

Conclusion
Investors are much more interested in progress than genius ideas. Most good ideas do not look like good ideas the first time you see them so your ability to show progress in your work and intellect in how you answer these questions are two very positive signals.

Dear, I hope this helps in you to peach your business as much as possible and get the necessary funding for your project.
Best wishes in this journey and in your implementation. Stay positive on the competition. It teaches us a lot of things to keep us sailing to the beach.

I have voted and made a comment on your idea or project; so please should you come online soon, do consider supporting my idea Eduheal with your votes and comments @ https://www.entrepreneurship-campus.org/ideas/26/17805/

Thank you for supporting my idea with your votes and comments

September 18, 2020 18:00

Dear campus [email protected] Your idea is an interesting one and I really appreciate you coming up with it. To add to your solution, I am sharing with you how to create a winning business model.

What Is a Business Model, Really

Everyone agrees that executives must know how business models work if their organizations are to thrive, yet there continues to be little agreement on an operating definition. Management writer Joan Magretta defined a business model as the story that explains how an enterprise works, harking back to Peter Drucker, who described it as the answer to the questions: Who is your customer, what does the customer value, and how do you deliver value at an appropriate cost.

Other experts define a business model by specifying the main characteristics of a good one. For example, Harvard Business School Clay Christensen suggests that a business model should consist of four elements: a customer value proposition, a profit formula, key resources, and key processes. Such descriptions undoubtedly help executives evaluate business models, but they impose preconceptions about what they should look like and may constrain the development of radically different ones.

Studies suggest that one component of a business model must be the choices that executives make about how the organization should operate-choices such as compensation practices, procurement contracts, location of facilities, extent of vertical integration, sales and marketing initiatives, and so on. Managerial choices, of course, have consequences. For instance, pricing affects sales volume, which, in turn, shapes the company scale economies and bargaining power both consequences. These consequences influence the company logic of value creation and value capture, so they too must have a place in the definition. In its simplest conceptualization, therefore, a business model consists of a set of managerial choices and the consequences of those choices.

Companies make three types of choices when creating business models. Policy choices determine the actions an organization takes across all its operations such as using nonunion workers, locating plants in rural areas, or encouraging employees to fly coach class. Asset choices pertain to the tangible resources a company deploys -manufacturing facilities or satellite communication systems, for instance. And governance choices refer to how a company arranges decision-making rights over the other two should we own or lease machinery. Seemingly innocuous differences in the governance of policies and assets influence their effectiveness a great deal.

Three Characteristics of a Good Business Model

How can one tell if a business model will be effective. A good one will meet three criteria.

1. Is it aligned with company goals
The choices made while designing a business model should deliver consequences that enable an organization to achieve its goals.

2. Is it self-reinforcing
The choices that executives make while creating a business model should complement one another; there must be internal consistency.

3. Is it robust
A good business model should be able to sustain its effectiveness over time by fending off four threats, identified by Pankaj Ghemawat. They are imitation such as can competitors replicate your business model; holdup -can customers, suppliers, or other players capture the value you create by flexing their bargaining power; slack -organizational complacency; and substitution- can new products decrease the value customers perceive in your products or services. Although the period of effectiveness may be shorter nowadays than it once was, robustness is still a critical parameter for effective business model.

Dear campus members, describing our business models is one of the requirements in the Youth Citizen Entrepreneurship competition; Therefore, I honestly suggest that before you submit your idea or project, create time to read this article. If you have already submitted your idea or project, do remember that we still have opportunity to refine our ideas and resubmit.

I hope that you find this useful.

Also, please do create time and take the campus online trainings as the trainings are there to help campus members understand what it is to be an entrepreneur.
Finally, I have voted and commented on your idea; please consider supporting my idea with your votes and comments @https://www.entrepreneurship-campus.org/ideas/26/17094/

September 17, 2020 19:39

Dear @Two Goals One Cup, your idea is an amazing one. To add to your slution, I suggest you consider the following. Before you submit your idea or project, please write down your idea in a Word Document and ask yourself these questions:

What business model will I follow to implement this idea?
What methodology or strategy will I use during different processes of implementing this idea?
Which are the processes I have to go through until the finalization of the idea?
What means or tools do I need to implement my idea?
Which are my potential collaborators, investors?

If you have already submitted your idea or project, please understand that the campus still have a window for refining our ideas or projects before final submission.
Also remember to take the campus online training as these trainings are to help campus members navigate through the entrepreneurship journey.

Best of luck in your implementation
Please consider supporting my idea Preventing Pandemics with your votes and comments @ https://www.entrepreneurship-campus.org/ideas/26/17094/

Thank you for supporting me.