5 Top Reasons Why You May Not Win Tony Elumelu $5000 Grant 2019

#TEF2019

As a Fellow/Entrepreneur of The Tony Elumelu Foundation – 2016 Set.
Here is my opinion/advice on why people fail with their application processes and never get to be selected or win the $5000 grant.

Please, keep the following information handy. It will help you a great deal. I sincerely want to hear your success story on your selection for the Tony Elumelu Entrepreneurship Programme #TEF2019.

Reason 1: LATE SUBMISSION
Please note, these are my opinion base on personal observations. I have discovered that when the portal opens for registration. Alot of people rush in and starts the registration process, running the session 1 and 2 and then they save and promise (not me) but themselves to continue later tomorrow but eventually comes back two days to the deadline for fear or whatever. Because 150,000 people can register for the programme and only 75,000 will eventually submit. What’s the point of starting what you can not finish?
Don’t do that please. The Grant is becoming more competitive. Applicants increase in number yearly. So, this year will not be different. Infact, the numbers of applicants will multiply this year because the programme is gradually coming to an end … running for 10 years only.
My advice… be among the set that registers and submit within the first week of the portal opening. Won’t guarantee your selection, but gives you an 80% edge over latecomers, most especially when you have a killer-idea.

Reason 2: UNREALISTIC FINANCIALS
If you are already in business – that is your idea is one, two or three years old (but not more than three years). Then, you must be able to articulate accurate figures of what you are selling, including your cost of operation, selling price, profit margin and all other vital information. And if you are at the idea stage. Your financial assumptions must make sense – reasonble projections not building a castle in the air e.g I will make 1billion after 5month (what are you selling…human spare parts?) Be realistic – what are you selling, how much are you selling, profit after sales etc.

with Omoni Oboli at the TEEP 2016 forum

Reason 3: LACK OF IMPACT MEASUREMENT

The Tony Elumelu Foundation is not an investment company who want to share profit with you. And so, they are concern about your impact dimension. How many lives will you touch – and how are you touching them. So, be clear to explain your impact metrics. How many people will you impact directly and indirectly? Add the numbers, they matter. You will have better chances if you impact 100 people and above. #DontLie winks

Reason 4: DISCONNECTED STORY
Story writing is a crucial part of the application. Because it somehow exposes your humanity and connection level in the process. It shows whether you own the idea/business or copy something on Google to apply with. It show’s if you truely care about impact of just the money.
So, it’s not enough to have a great idea or business. If you must win the $5000, you must have a great story to back up your idea to really win.

Reason 5: ZERO VALUE PROPOSITION
This is big and that is why is last on my list. If your value proposition is weak, senseless, or both. Forget winning the grant. If what your idea or business is offering is what 2000 other persons are offering then no point applying – just go and work for the other guys. So, you have to bring something unique to the table. Alot of people can be running a catfish farm – what’s different about yours? The difference is the key to a successful application. SO, FIND IT.

And my bonus .…. infuse technology to your idea and or business no matter what it is. The selection committee kind of care about tech-inclusiveness in your idea/biz. So don’t ignore it. Be it a website, mobile application, whatever software. Just add it. Most especially in your marketing plan.

And don’t forget the read HOW TO APPLY AND WIN THE TONY ELUMELU $5000 GRANT for full guide and support.

So, success all the way.
If you got any question… drop it in the comment below, will be glad to answer and help you out.

If you need special services for the application process. Reach out to me asap.

Cheers

6 thoughts on “5 Top Reasons Why You May Not Win Tony Elumelu $5000 Grant 2019

  1. I appreciate this write up, especially looking at the fact that you’ve been there before, this is eye opener. Thanks so much

  2. This is a very good write up and I found it helpful……pls can u drop ur whatsapp number for further conversation?

  3. Thanks for finding the information helpful. You can reach me on whatsapp via 07038649165! Don’t forget to subscribe for my email update. Keep Thriving!

  4. I can’t thank you enough my brother for your good heart and good work towards seeing that others become successful, ur type is scarce but God will take you higher and higher…. U are are a leader…. Kudos and God bless you dearly

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DANIEL AJUMOBI™

I'm an Independent Certified Personal Development Coach and Capacity Building Advisor located in Lagos, Nigeria. I am the CEO and Founder of The DANIEL AJUMOBI Company Ltd, a parent company to a group of startups including DanielAjumobi.com & Jumoby.Shop

Launch DateJanuary 1, 2019
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