After unpacking Market Development, Distribution Strategies, Digital Marketing, Customer Development, Funding Strategies,… It’s time for our entrepreneurs to determine the best direction and framework for their fashion business. How? By translating their investment opportunity in a document called: The Business Plan. Successful companies see business planning as a continuous activity enabling them to set long-term and short-term goals and objectives. An extremely useful tool when it comes to raising additional capital for expansion.
That’s why the last week of Threads, is all about creating a winning business plan.
Altivex Creative Foundry Managing Director, Mushambi Mutuma started the module with an interactive discussion on the foundations of a Business plan. From the practicality of each step, understanding the opportunities and more.
“Express the value your fashion business is adding in everyday life.” – Altivex Creative Foundry Managing Director @mjmutuma. #ThreadsbySB.
To ensure a business plan is on track and running smoothly, a good project management process is vital. That’s why the execution strategy was unpacked with #ThreadsbySB founders Desiree Brouwer & Tania Habimana.
Entrepreneur & EOH Mentor Wendy Beetge then took the lead. Revealing the crucial Company information needed such as Ownership and structure, Market trends and more.
When it came to the Finance section, Khodani Netshifhefhe, Khoroni Consult Managing Director paved the way. Explaining the best practices from assets and liabilities, Income projections to Sales forecast.
“Use a cash flow analysis to identify, in a timely manner, cash flow problems as well as cash flow opportunities” – Khodani Netshifhefhe. #ThreadsbySB
The entrepreneurs then unpacked the top tips on how to construct a winning business plan thanks to Vuyisa Qabaka, Founding Partner at Entrepreneur Traction & Uprise.Africa.
“The man with the gold makes the golden rules. Choose your investor wisely.” – Vusiya Qabaka. #ThreadsbySB
As you know, the entrepreneurs will soon have to present a business case in front of a panel of judges. That’s why Fabio Petroni, Director of Programs at #ThreadsbySB academic partner E4Impact hosted the last module. Demonstrating the content our entrepreneurs need to complete their final assignment. From the business overview, strategy formulation process to the risk analysis.
That’s it for this week on Threads, The Business of Fashion Accelerator Program, Stitched by Standard Bank. Stay tuned to uncover more insights – driven by Mercedes-Benz.