YouWiN 4 Questions As Presented on the YouWiN Website

YouWiN 4QuestionsAre you looking for YouWiN 4 questions? I have compiled all the YouWiN 4 questions in this post so that you will know all the questions you are expected to answer correctly before you can scale the Stage 1 of the Competition.

Note that YouWiN stage 1 competition is a concept note competition. It is at the second stage that you will have to submit a detailed business plan that includes detailed financial estimates.

So for stage 1, here are the questions you need to answer correctly. Your answers will be marked (per section) and graded by the YouWiN panelists.

YouWiN 4 Questions

Description

Describe your business (Words used: 0/20)
Select your industry-sector (Agriculture, Food and Restaurant, Manufacturing, Retail, Services, Others)


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Marketing

What benefits of the product or service enables your business to stand out from your competitors? (Words used: 0/50)
Does this meet a particular need or demand (your competitive advantages, if any)? (Words used: 0/50)
Name five of your existing or expected top customers, How will you attract these customers to your point of sale? (Words used: 0/50)

Management

How many new, full-time (or equivalent) staff will be employed in the business 12 months from receiving the first stage award?
———-
Describe the benefit you and your proposed staff will bring to the business, including: expertise, track record in the Industry and management experience (Words used: 0/50)

Product

Name your three largest existing/expected competitors. Which, if any, have a localised presence or distributor network? (Words used: 0/50)
Describe the materials you will need to create your product or service. Are these materials readily available, at the right price and quantity, in your locality? If yes, please describe any relevant information (Words used: 0/50))
Is there an existing or expected lead time for manufacture, set-up, harvest or breeding? If yes, give estimated lead times for each product? (Words used: 0/50)
What risks or challenges might affect the success of your business, including: licences and accreditations (what can stop you from making this business a success)? How will you reduce or mitigate these risks? (Words used: 0/50)

Profitability

What are your current and expected sales within the next 12 months (units and income)? If there is any seasonality, please explain. (Words used: 0/50)
What amount of sales, in Naira per month, must you achieve to reach profitability?
——- (Amount in Naira, enter numbers only; if none, enter: 0)
When do you expect to achieve this (how many months after receiving your first grant award)?
——–

YouWiN Award

How much money (Naira) do you want from YouWiN? (₦10m maximum)
——— Amount in Naira, enter numbers only; if none, enter: 0)
Break this figure down into relevant categories. Note: a maximum 40% of the total award is usually allotted to Capital equipment, as the remainder of the award must be sufficient to fund operational expenses of a growing business.
Capital equipment (e.g. machinery, land, building) —— (Amount in Naira, enter numbers only; if none, enter: 0)
Operating expenses (e.g. wages, raw materials, stock) —— (Amount in Naira, enter numbers only; if none, enter: 0)
Other (e.g. pre-start. set-up costs, accreditation) —— (Amount in Naira, enter numbers only; if none, enter: 0)

Financial

What is the minimum equipment cost that is necessary to commence trading or expand your business?
——– (Amount in Naira, enter numbers only; if none, enter: 0)
Describe this equipment (Words used: 0/30)
How much money have you already spent on Capital equipment?
——— (Amount in Naira, enter numbers only; if none, enter: 0)
How much money do you require or expect to need from other sources (i.e.: investors, bank loans, etc)
——– (Amount in Naira, enter numbers only; if none, enter: 0)
State the progress of any loan application (Words used: 0/20)
Describe any existing finance loans related to the business (Words used: 0/20)
How much money will you or your family and friends contribute to the business in the next 12 months?
—— (Amount in Naira, enter numbers only; if none, enter: 0)
How much money do you plan to take out of the business personally (average amount per month)?
—— (Amount in Naira, enter numbers only; if none, enter: 0)

Additional Information

Please add any additional information / comments that you feel maybe relevant and useful with this application (Words used: 0/100)

 Tips on YouWiN 4 Questions and Answers

In case you are wondering how on earth you will answer these questions, you can read previous discussions and join the conversation under the topic – Everything You Need to Know About YouWiN (part 2)

You can also download our toolkit at YouWiN Business Planning Toolkit.

Before you submit your application, ensure you let a knowledgeable person or professional review your application. Consider reviewing your application with us.

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Ayoade Oyedotun

Editor at Woculus
Ayoade Oyedotun is passionate about working smarter using the Internet technology.
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1 Comment
  1. Kenechukwu 2 years ago

    Greetings,

    I calculated my break even point duration to be met in 24months time, but later found out that 12months is the maximum.
    My mistake is that I submitted it with the 12months maximum limitation without doubling it to meet the expected amount.

    Is it ok to leave it that way? If not, is there anything I can do to correct it?

    Please reply me ASAP or send me a number to call on 08064080688.

    Best regards,

    Kenechukwu.

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