The second Power Forum was powerful and exciting, we had David Kairo presenting on business plan development. The attendance was high, until we lacked space.
David Kairo is a proven education practitioner with a special focus on youth entrepreneurship across Africa. He has over ten years’ experience working at KCA University, Kenya where he was involved in curriculum development, teaching, research, consulting and pioneering community outreach programs. In 2009, David set up the Centre for Entrepreneurship and Leadership (CE&L) at the University. Here, he was instrumental in steering entrepreneurial innovation among the university community, conducting research and equipping MSME’s with relevant business skills.
Among the key things discussed during the forum is the importance of having a business plan. David noted that a business plan is a guide to the future and every business and individuals should have it. He also outlined the basic components of a business plan, which included the executive summary, introduction, operational plan/Production plan, human resource plan, financial plan and an appendix
The other things discussed were the dos and the don’t s of a business plan. The dos included;
- A business plan should be audience specific- any business plan should be able to communicate to its audience what the business is.
- A business plan should be convincing to the reader, it should not have assumptions. Assumptions can be avoided by carrying out market research
One of the don’ts mentioned was, to not take shortcuts, one should take time to develop the business plan as it’s the document that will guide them into a successful business. Shortcuts will only lead to problems in the future because you had not planned ahead.
Our next power session will be on 4th June 2014 From 3pm. We will be having Linet Kwamboka speaking on Starting up. Sign up here