EXERCISE 1 - MY START UP COSTS

Objective

The objective of this exercise is to introduce the participants to costs involved in starting up their businesses and make a simple budget to guide them in planning their finance accurately.

Description

1. Put participants into their mastermind groups.

2. Ask the participants to identify and discuss all the things they need to start up their businesses

3. Ask the participants to list all the things needed. They can divide the list into 3 groups: 1) What do I need to have? 2) What would I like to have? and 3) What would I love to have? This can help them to prioritise their costs.

4. Ask the participants to use Lego or other creative materials to construct items identified and discussed

5. Ask the participants to cost each item and enter it in a simple budget.

EXERCISE 2 - WHAT DO I HAVE?

Objective

The objective of this exercise is for the participants to get an overview of the means (items and financial resources) they have at their disposal. It is important to know if they can afford their start up costs or if they need to make adjustments.

Description

1. Ask the participants to make a list of the items that they already have to start the business and a list of the money they have. This also include what they have in their VSLA box or what they are able to borrow in the VSLA at this time.

2. Ask the participants to compare the budget they made in exercise 1 with what they actually have. Can they afford the things they need?