INTERMEDIARY ENTREPRENEURSHIP PROGRAMME
GROW YOUR BUSINESS WITH ISBI
IEP enables the transition from an informal ad hoc micro-stage to a focused structured company by providing entrepreneurs with a comprehensive set of skills and a professional business perspective. The Program combines Teaching, Training, Mentoring and Consulting (TTMC) and is based on the case method, widely applied in business schools all over the world, just abridged to the elementary level. The theoretical part is reduced to a minimum and only if needed to facilitate better understanding of the topics taught. The main focus is on the immediate practical value for entrepreneurs and best practices from each industry involved. In five in-class and on-site blocks IEP builds essential skills in strategy, marketing, business planning and presentation skills, while providing personalized mentoring on drafting of a business plan for each particular business as well as professional feedback.
Teaching is done in groups of 16 to 24 entrepreneurs and Training in smaller homogenous group of 4 entrepreneurs to make the learning more practical and more industry specific. Through Mentorship, the entrepreneurs are individually guided in development of their own business plan. Thereafter feedback is given on the feasibility and practicability of this business plan. The main focus of this program is to enable the entrepreneurs grow their businesses by helping them identify the loopholes and educate them on entrepreneurship, strategy, marketing and business operation, thus equipping them with a professional business perspective.
This innovative approach is beneficial for all parties at stake. The impact on entrepreneurs’ side is achieved through:
increasing their financial literacy and improving their overall management skills,
identifying improvement potential and teaching them to apply the learnt concepts,
developing and implementing a sound for their midterm growth, and
presentation skills help them articulate their business ideas for communication with banks/MFIs or potential investors in the search for debt financing or equity partners.
Block 1: Building Foundational Skills
Format: In-Class Learning (4 weeks x 2 times a week)
The first block, conducted by Strathmore University lecturers and professional trainers, gradually builds a deep understanding of the core areas: entrepreneurship & strategy, marketing and business planning, with particular emphasis on the typical challenges facing an entrepreneur in each particular industry: setting strategy, building the organization, understanding the economics and key value drivers, and exploiting new opportunities in both good and bad economies. A teaching session in each area is followed by a training session in a smaller group. Training sessions consisting of practical exercises and homework assignments personalize the TTMC experience by directly linking it to participants’ businesses.
Block 2: Applying the Knowledge
Format: On-Site (2 weeks)
After completing the Learning Block 1, participants with the help of individually assigned mentors develop a business plan focused on improvement potential and their business expansion and identifying a sustainable competitive position for their business. Professional mentors, assigned personally to them, will visit their businesses and assist the entrepreneurs in collecting the relevant data, analyzing it and developing the next stage. This personalized approach to key TTMC lessons maximizes the learning and delivers greater benefits for the participants.
Block 3: Ultimate Check
Format: In-Class (1 week)
During this block the participants will receive professional feedback on the feasibility of their business plan and will have to defend their idea by presenting it to their class peers and lecturers. It provides an opportunity to gain an outsider-view and practice their presentation skills in order to defend their idea before MFIs and potential investors in the future. Only those participants, whose business plans get the final approval, successfully complete the course and receive a certificate. Business plans that have not passed the reality check or are not able to meet the required standards will be rejected.
In order to join, entrepreneurs must have successfully passed the Basic Entrepreneurship Course and be using the record-keeping REKA© application for at least 3 months. Besides, they must meet any 2 of the following 4 requirements:
Minimum yearly turnover of KES 10 million
Minimum 5 full employees
Minimum 3 years in business
Minimum credit capacity of KES 2 million
6 weeks spread over 2 mo, ½ day twice a week + individual biz plan mentoring and on-site visits