RYSEC 2010

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

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o A detailed business plan containing an explanation of your idea and what you want to do

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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 in
your thought process.

Key elements required

1. Need Analysis 7. Marketing Strategy
2. Product or Service 8. Operations
3. Market Summary 9. Key Risks
4. Revenue Model 10. Team Qualifications
5. Social Value or Impact Analysis 11. Financial Summary
6. Resources Required

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/ charity
etc.?
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 not
solved?

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o What is the strategy that you propose which will be different to those currently adopted by
others and what is the increased effectiveness?
o What is the motivation for the beneficiary organization or community to be involved and
adopt 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 service
delivered 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 receive
revenue, 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 with
differentiation?

5. Social impact or value analysis

Your business must produce social value once it is in operation. Have in mind the kind of impact your
product or service will have on your customers.
o What is the social impact and value benefit of this project?
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o Who or which group in the community will feel the direct impact of your business? Is this
impact 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 your
target 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 to
get 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 and
beneficiaries to make project sustainable and effective?

What systems and platform you have to encourage ideas and contribution by
beneficiaries of the project?

How do you capture the ideas and contributions and best practices to benefit the
project in the future?
o Other resources

Do you need any specific resources (e.g. equipment, real estate, manpower), and are
they currently available?

How long will you need to get started?

Does the beneficiary organization NGO or community have access to the resources to
implement the project?

7. Marketing strategy

A key step towards getting your business off the ground is to have a sound marketing strategy. Let
the 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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o How would you get the community and volunteer support for this project, if necessary?
o What is your marketing budget? Weighed against the potential benefits reaped?

8. Operations

Plans will remain as plans without proper execution. You need to decide what needs to be done, and
who is going to do what.
o What are the roles that need to be filled in your business?
o Are there any specific systems that will be required for operations?
o Can these roles be filled by one person? If not, how many?
o How will the allocation of work and responsibility be like?
o What kind of structure for communication and work flow process is needed to be efficient and
cost effective?
o How easy and methodical are your operations so that they are trainable, learnable and
transferable for adoption by the beneficiary?
o What are the resources (Manpower, Infrastructure, technology and funds) required to make
the project scalable for a greater reach and impact to society?

9. Key risks

Business owners that hope the best, but prepare for the worst have the highest chance of survival.
Identify the possible risks and obstacles you will face.
o What or who are the risks your business faces?
o Short term or long term risks?
o Is your business able to overcome these risk factors, and how?
o Can you potentially transform these risks to opportunities, and how?

10. Team qualifications

Every business will eventually boil down to its people. Give us a bit of background history about your
people, and why you are qualified to start this business.
o Tell us a little more about yourselves.
o What are your relevant experiences?
o Why are you best placed to run this business?

11. Financial summary

Last but not least, you need to work out a financial summary that tells us when you expect to start
making profits, and how much you will need as seed capital at the beginning.
o What is your funding requirement to get started?
o What is the funding requirement for three years and what are the revenue sources?
o How would you raise the funds required through capital infusion/sales revenue sources in an
effective manner?
o How would you get public support for initial capital funding?

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o How would you ensure that major part of each donor dollar reaches beneficiary in
service/kind?
o Who are responsible and accountable for the funds –source and use of it?
o What control systems are in place to ensure accountability to all concerned?
o What Govt. regulatory requirements are there to implement the project?
o How would you ensure that you maintain a code of ethics/conduct and compliance?
o What are your projected profits? Losses? Expenses?
o What will be your cash inflows and cash outflows?
o What key assumptions did you have to make to come up with your finances?

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© 2009 Rotary Youth Social Entrepreneurship Challenge