23 Aug 2017

Youth have been encouraged to develop a unique value proposition for their businesses as this will help them stand out from the rest.

Speaking during a one-week Youth Development Fund (YDF) post training workshop in Letlhakeng recently, the executive director of Mwami Group, Dr Anthony Mwami informed them that being unique from competitors could help ones business attract customers and be sustainable.

He said most of the time people wrongly placed making profit as the top priority in business which often leads to collapse. Dr Mwami said unique value propositions include knowledge of what customers needed as well as building a good reputation of ones business in the minds of customers.

“One of the main objectives of going into a business is to create and keep customers through such things as good customer care and reliance. When you start a business you must also have a specific target for a market,” he said.

He said flexibility was also a requirement as customers had the habit of changing preferences, and that the business should always be ready and willing to be flexible to meet customer needs and interests.

Dr Mwami also advised the youth to invest their money into assets rather than liabilities such as vehicles. For her part, the chief executive officer of the Mwami Group, Ms Botshabelo Ontse also stressed the need for boldness in business, and encouraged the youth to always start small and grow with time rather than aiming too high at the beginning.

“What government did for you by funding you should be seen as just a springboard for your businesses, the rest of the effort should come from you to ensure that your businesses succeed,” she said.

Giving a testimony of her journey in the bakery business, Ms Ontse advised the youth that challenges were a daily part of a businessperson’s life, and that they  should not be detered.

Giving the objectives of the workshop, Letlhakeng Sub-district programmes coordinator, Ms Felicity Nyoni said that the workshop was meant to equip the YDF post funded beneficiaries with entrepreneurial knowledge and skills for better business sustainability.

She also said they wanted to impart knowledge and get feedback on the ministry’s policies and guidelines regarding YDF projects operations as well as share and exchange knowledge, skills, experiences and challenges in projects operations. ENDS