Connect with us

How to

Intro: Understanding Business Case

Published

on

A business case is a written or verbal value proposition that is intended to educate a decision maker and convince them to take some kind of action. It shows a clear path to an attractive return on investment (ROI). An embodiment of research/arguments intended to convince a business owner or decision maker to approve some form of action. The business case explores all feasible approach to a given problem and enables business owners to select the option that best serves the organization. It is a deciding factor if the project should go ahead or not.

business case presentation

To add to the above, in a business case, all relevant facts are documented and linked together into a cohesive story that has to convince the decision maker. The What, Why, How, When, and How Much are very relevant factors contained in a Business case. These are very convincing questions that when answered in a business case, can easily facilitate decision making.

Read Also: Using International Business Theories To Dominate The African Business Environment

Adding more light, it can be short or comprehensive but concise so that many can read and understand properly. The goals of a business case are always to express  measurable, immediate, midterm and long term substantial benefits to the proposed business or project. For example, if a Restaurant’s manager notices that the business doesn’t make enough money on Sunday evenings to cover operational costs, presenting that fact to the owner may be compelling enough to make the business case stating reasons with fats why the Restaurant should close in the evenings on Sundays. Ref: Whatis.com

The purpose of a business case is to provide the maximum amount of information required to facilitate a decision to perform some activity that will somehow impact the product, its customers or the business.

business case presentation: What is business case
Furthermore, a Business case is also meant to qualitatively and quantitatively rationalize an investment of market needs, proposed solutions and economic outcomes. The document is real and it lives to evolve from the Executive summary, through Feasibility studies to industry research, and business strategic Analysis to  Market research.

In a good Business Case, Questions like “Should we start or ignore this Business opportunity”? “Is the Business Opportunity Valid”?, “Does it Drive profit”?, “How much does it cost to embark on this Business opportunity”?, etc… should all be answered and evaluated in a Business Case.

To conclude, as mentioned above, a good business case should be comprehensive making use of data analytics. It is recommended to incorporate the outcomes at every decision point and highlights in the Business Case with a Link to the research, analysis and background information. With all that been said, a Business case is completed and archived with the decision that was made. So the next decision point gets created and the former one becomes the base.

Continue Reading
Advertisement
Comments

Afro Success Stories

African Entrepreneurs creating Jobs and Employment in Their Communities – Olasupo Abideen

Published

on

By

african entrepreneurs

Olasupo Abideen ” My greatest achievement is being a 25yr old employer who employs 35 people and has trained 475 Others” as one of african entrepreneurs.

Meet Olasupo

I am a 25year old one of Nigerian african entrepreneurs, founder/CEO of OPAB Gas with over 6 years of transnational experience leading and working with diverse teams to facilitate youth empowerment, development projects and youth involvement in policy. I am a UNESCO ESD Young Leader, a WEF Global Shaper and a Fellow, Young Africa Leadership Initiative.

Since receiving the $5000 Seed Capital in December 2018, my Company has created employment for thirty-five (35) University undergraduates (through our Work Student and Student Ambassadorship Program), opened ‘four (4) new Gas stores’, and trained ‘four hundred and seventy-five (475) unemployed youth and corps members‘ (through our #Gasprenuer Initiative). As a means of giving back to the community, we have also helped ‘five (5) kids’ return to school through our #StreetToSchool programme for our Community.

My Humble Beginnings

I watched my mother walk long distances to gather firewood and buy coal to cook for my family in my growing up years in my village in south-west Nigeria, where I was raised. It wasn’t peculiar to my mother; this was commonplace for all families. We all knew it wasn’t safe. We knew that if it made them this uncomfortable, there was no way it was safe, but we didn’t know there were alternatives. After all, this is how our grandparents and their parents before them lived.

It bothered me to see my mother’s red eyes, and the wet eyes of other women in our rural community bothered me a lot. Even though I did not know until recently that cooking with firewood is equivalent to smoking 400 cigarettes per hour, and is one of the three causes of mortality among women and children, I knew there had to be something I could do, but I couldn’t figure it out; or better put, I did not have enough education nor access to information to figure it out.

 

My Business Idea

The Idea to start my business came from a need that I identified and solving that problem meant a business opportunity. As a student of chemistry at the University of Ilorin, I was exposed – through volunteering – to MDGs (and subsequently SDGs), and I took a keen interest in clean, renewable energy, that could be used instead of orthodox fuelling options, and one of them was Liquefied Petroleum Gas.

After a long time of advocacy for SDGs, as an undergraduate, my SDGs advocacy and youth development organization, Brain Builders International, signed an agreement with the Kwara State University’s Community Development and Entrepreneurship Centre to train young Nigerians african entrepreneurs on the Sustainable Development Goals, their benefits, and ways toward actualisation.

I noticed that every time I took the 55min trip to Kwara State University to facilitate these training sessions, I would encounter students carrying gas cylinders: either going to fill Gas in Ilorin or coming back from Ilorin after filling Gas. I later learnt that the only cooking gas supplier in the community at that time was exploiting the students by using a manual scale that could be manipulated and also selling at a rip-off price.

 

Solving the Problem

In 2017, I took a soft loan from a friend, added some of my own moneyand after conducting intense market research, filing necessary papers, and satisfying ethical and professional standards, we opened our first OPAB Gas station. The services we offered hinged on three things; convenience, safety, and trust. Students could now focus on academics, as we did not only sell gas at the standard rate, but we also offered pick-up and delivery services. We used safe measures alongside a digital scale to address the issue of trust. Within three months we had broken even.

The TEF Intervention

In 2018, I applied for the Tony Elumelu Foundation Entrepreneurship Programme but was only selected for the GIZ list to be one of the 210 beneficiaries of the training and $5000 funding. The training provided by the foundation on business planning, financial intelligence, scalability, among others could only be likened to a mini MBA.

Immediately after the training myself and my team we started discussing how to dominate the market in which we operate and capture new markets.

With the seed capital, we were able to expand our business.

 

Our Growth and Milestones as one of african entrepreneurs

  • Expansion: We have expanded the business to 6 stations in two townships to target the student populations and made over $25,000 since receiving the seed capital from the foundation.
  • Employment: Staff strength – 2 (in 2017), 35 people (2019).
  • Gas on Wheels: We now own delivery vans and offers delivery services
  • Digitization: We now take orders on the business’ website in both cities where we operate.
  • Introduced Customer Loyalty service
    • Health safety card – to educate users about safety measures.
    • Customer reward: Points reward system.
    • Holiday Promos
  • we also have a few impact initiatives that we run.
  • OPAB Gas has trained 450 Youth Corps members, unemployed youth in Kwara State on the economic merits of the Gas economy and the many opportunities that abound in the sector.
  • In line with the UN SDGs, OPAB student work experience – an internship programme where we train students. During this internship, they work on Sundays for a stipend. They then receive N10,000 for every 1000kg of gas sold.
  • OPAB gas student ambassador scheme – delivery service.

 

The Future

The vision for OPAB Gas has always been to solve energy availability and ease of use for everyone across Nigeria so we are constantly working on ways to reach out to more Nigerians.

Our OPAB telemetry solution will allow people to monitor and manage their gas usage, notify them when it is almost finished, connect them to the nearest gas stations and pay for gas with existing mobile money applications.

 

 

Contact Details

Website: https://opabgas.com

Instagram: @opabgas_

Phone call/WhatsApp: 07068775529.

Continue Reading

Trending