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RYSEC
2010
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© 2009 Rotary Youth Social Entrepreneurship Challenge
Criteria – Project Accelerator
Application requirements
You have an idea and are hoping to change the world. So what do you do now?
The first step would be to submit a Full Business Plan of your idea to RYSEC 2010!!
What will you need for a Full Business Plan?
o
An 1-page executive summary
Single-spaced, with Arial Font size 12
o
A detailed business plan containing an explanation of your idea and what you want to do
Single-spaced, with Arial Font size 12
To help you in this process, we have outlined the main aspects of your idea.
We have come up with the following elements and associated questions that we hope will help you inyour thought process.
Key elements required
1.
Need Analysis2.
Product or Service3.
Market Summary4.
Revenue Model5.
Social Value or Impact Analysis6.
Resources Required7.
Marketing Strategy8.
Operations9.
Key Risks10.
Team Qualifications11.
Financial Summary
1.
Need Analysis
Any business plan must begin with the potential customer in mind.
o
What is the purpose of the project?
o
What do you expect to achieve from the outcome of this project implementation? Vision?Mission?
o
Who are you trying to help? Who is the beneficiary of this project – NGO/ Community/ charityetc.?
o
What are the cause and benefits that it addresses?
o
How big is the potential and need for this project purpose?
o
What research has been done to substantiate the need?
o
Why is it essential to address this problem currently and what would its impact be if it is notsolved?
RYSEC
2010
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© 2009 Rotary Youth Social Entrepreneurship Challenge
o
What is the strategy that you propose which will be different to those currently adopted byothers and what is the increased effectiveness?
o
What is the motivation for the beneficiary organization or community to be involved andadopt this project?
2.
Product or service
Your business must produce something of value. Will it be a product, a service, or both?
o
What exactly is your product or service, how is it going to work?
o
What is the benefit and value addition to society?
o
Is there any technology involved in the project proposed to deliver the product or servicedelivered through it? If yes,
o
How easy is it to be adopted by common man in the society with low skills and education?
o
Is the technology indigenously developed or is it to be sourced from outside?
o
How are the systems and equipments maintained?
o
What is the uniqueness of your concept/ social innovation? Is this original?
o
How different, better and cost effective is your concept behind the project?
o
Do you have a prototype or design or proof of concept in mind?
o
How would you involve the NGO or community to deliver the project?
3.
Market summary
You must have a clear idea what market your business is going to operate in.
o
Is there a “gap” in the existing market?
o
What are your niche focus areas and why?
o
Is there already an existing market, or are you creating a new market?
o
If it is an existing market, who are your main competitors?
o
If it is a new market, what makes you so sure that there will indeed be demand?
4.
Revenue model
In order for your business to be up and running, you need to know from whom you will receiverevenue, and how much.
o
What type of customers do you expect to purchase your product or service?
o
How many revenue streams do you have?
o
Do you have a unique revenue stream that other businesses do not have currently?
o
What is the relationship between the cause and value to keep a sustainable revenue flow?
o
What is it about your revenue model that makes it a sustainable and able to grow withdifferentiation?
5.
Social impact or value analysis
Your business must produce social value once it is in operation. Have in mind the kind of impact yourproduct or service will have on your customers.
o
What is the social impact and value benefit of this project?
RYSEC
2010
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© 2009 Rotary Youth Social Entrepreneurship Challenge
o
Who or which group in the community will feel the direct impact of your business? Is thisimpact positive or are there negative side effects?
o
Indirect impact?
o
Is there any possible impact that may arise as a response to your business?
o
How will you measure the impact of your concept to ensure it makes a difference for yourtarget beneficiary?
o
How would you measure the benefit /Value delivered to society?
o
What benchmarks (direct/ indirect) are there to show that you are achieving your goal?
o
What else will you do to ensure that the value of your project is delivered?
6.
Resources required
Before your business even materializes, you might need some help. What resources will you need toget you started?
o
Skills
What are the types of skills required?
If you do not already have these skills, how will you get them?
How will these skills get transferred as your business grows
Do you have good educational and training programs for skill development?
o
Knowledge
Do you need any specific knowledge or information before you get started?
What are your sources of knowledge, and how do you access them?
How would you promote and encourage creativity with the community andbeneficiaries to make project sustainable and effective?
What systems and platform you have to encourage ideas and contribution bybeneficiaries of the project?
How do you capture the ideas and contributions and best practices to benefit theproject in the future?
o
Other resources
Do you need any specific resources (e.g. equipment, real estate, manpower), and arethey currently available?
How long will you need to get started?
Does the beneficiary organization NGO or community have access to the resources toimplement the project?
7.
Marketing strategy
A key step towards getting your business off the ground is to have a sound marketing strategy. Letthe people out there know that you are in business!
o
Who
exactly
will you need to market your idea to?
o
What are your marketing channels?
o
How do you plan to use these channels to promote your concept and get community buy-in?
o
How do you plan to use these channels to create social and public awareness?
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