YETP 2.1 English

Table of Contents
ACKNOWLEDGEMENTS ............................................................................................................. 2
INTRODUCTION ......................................................................................................................... 3
LESSON PLANS
Lesson 1: Welcome and introduction - What is entrepreneurship? ........................................ 6
Lesson 2: Entrepreneurship assets and deficits and Defining expectations ............................ 8
Lesson 3: Feasibility Study Steps 1 & 2 Make a business choice and Conduct market
research .................................................................................................................. 11
Lesson 4: Feasibility Study Step 3 Define business operations and the three types of
costs ........................................................................................................................ 15
Lesson 5: Feasibility Study Step 4 Calculate the cost per unit, determine the selling
price and estimate sales income ............................................................................ 18
Product Cost Table ............................................................................................................. 22
Determine the selling price and calculate the profit per unit............................................ 26
Estimate sales income ....................................................................................................... 26
Lesson 6: Feasibility Study Step 5 Decide if the business is a good idea ............................. 27
S.W.O.T. Decision Table ..................................................................................................... 29
S.W.O.T. Analysis Table ..................................................................................................... 30
S.W.O.T. Flow Chart ........................................................................................................... 31
Business Idea Checklist ...................................................................................................... 32
Entrepreneurship Questionnaire ....................................................................................... 33
Lesson 7: Realities of entrepreneurship ................................................................................. 34
Lesson 8: Marketing ................................................................................................................ 36
Lesson 9: Accounting .............................................................................................................. 39
National Sandwich May Income & Expenses..................................................................... 43
National Sandwich June Income & Expenses .................................................................... 43
National Sandwich July Income & Expenses ...................................................................... 43
Example Daily Cash Journal ............................................................................................... 44
Lesson 10: Finding community ressources ............................................................................. 47
Lesson 11: Business plans ....................................................................................................... 51
Lesson 12: Action planning ..................................................................................................... 56
Action Planning Worksheet .............................................................................................. 56
Example Action Planning Worksheet ................................................................................ 59
Lesson 13: Distribution of certificates .................................................................................... 61
Evaluation .......................................................................................................................... 62
Attendance List .................................................................................................................. 63
Example certificate ............................................................................................................ 64
APPENDIX
i : Creativity ............................................................................................................................. 65
ii: Stock management ............................................................................................................. 70
Daily Sales Record, Stock Notebook, & Inventory Sheet ................................................... 73
Daily Sales Record, Stock Notebook, & Inventory Sheet Practice ..................................... 74
ACKNOWLEDGEMENTS
The Youth Entrepreneurship Training Program (YETP) was conceptualized and inspired by Peace Corps Guineas
long history of entrepreneurship activities and an increasing demand to provide Guinean youth with the necessary
skills to initiate businesses, make healthy and productive life choices and reinforce professional skills in the work
place. YETP Version 2.0 represents a collaborative and evolving effort to create a program that responds to the
unique needs of Guinean youth. It incorporates feedback and lessons learned after nearly a year of implementing
the original YETP Version 1.0, and draws from contributions from a number of partners who have made this
program a success.
First and foremost we thank Philip Rush, the original Youth Entrepreneurship Training Program (YETP) Coordinator.
Philip worked closely with several Peace Corps Volunteers to edit and compile the program, including Juliette
Keeley, Ravi Solter, Mary Tellers and Janice Williams. In addition, we cannot thank our local partners enough for
serving as vital sounding boards in creating a curriculum adapted to the youth experience in Guinea.
We thank the Bok Centre de Formation Professionnel (CFP) for its willingness to provide facilities and input during
the trial run of the program. We offer a special thank you to Mr. Abdoul Karim Cond, Center Director and Mr.
Alhassane Koulibaly, Professor of Heavy Engine Mechanics, as well as the students of the Bok CFP who
enthusiastically participated in the initial lessons. Their passion to learn about entrepreneurship, make positive life
choices and take the initiative to create their own association (LAssociation des Jeunes Etudiants la Recherche de
Connaissance du CFP de Bok (AJERC)) to search for knowledge provided the indispensible youth-based input that
was critical to developing the program. We would also like to thank International Foundation for Education and
Self-Help (IFESH) Volunteers Ibrahima Camara and Djalimatou Diallo for their support and participation.
Since YETP 1.0s introduction, a number of people have played a tremendous role in implementing and revising the
program. We would like to thank all of the past YETP participants and facilitators whose indispensable feedback
has helped us to enrich the program, guiding us to more precisely and effectively meet the needs of Guineas
youth. Particular thanks to our partnerships with CECOJE Kindia and AGUIDEP for their tenacity and dedication to
YETP since its beginning. Thanks to Kenny Lawrence, who retooled the Feasibility Study Steps 1-5 and drafted
the original Finding Community Resources and Creativity lesson, Amanda Malzacher who drafted Stock
Management and Meghan McCormick who drafted the Business Plans session. Particular thanks to Hillary
Braseth, who designed the cover page for both Versions 1.0 and 2.0.
We are very grateful for the thoughtful input and constructive editing of Associate Peace Corps Director, Kristine
Schantz. Without her help drafting the Small Project Assistance (SPA) Proposal and the YETP background paper, the
program would have never been realized. Also special thanks to Peace Corps Program Assistant Mariama Diallo for
her editing contributions. And finally, we appreciate the United States Agency for International Development
(USAID) for their financial support of the project.
Philip Rush
YETP Coordinator
May 2012, Version 1.0
YETP Steering Committee
April 2013, Version 2.0
Christopher Austin
General Coordinator
Kenny Lawrence
Volunteer Outreach Coordinator
Chelsea Erola
Monitoring and Evaluation
Coordinator
Amanda Malzacher
Partnerships Coordinator
Meghan McCormick
Technical Advisor
INTRODUCTION
Youth Employment and Enterprise Development in Guinea
Small enterprise development is cited as a priority in the Government of Guineas Five-Year Socio-Economic Development Plan
(2011-2015) in an economy where 90% of businesses are classified as small or medium. A lack of technical support is cited as
1
one factor impeding small and medium enterprise (SME) growth.
Formalizing informal sector activities in order to fuel economic development and combat unemployment remains a priority for
2
the Guinean government. The informal sector is estimated to employ 86% of the working population and constitutes nearly
3
50% of Gross Domestic Product (GDP).
Youth employment, professional development, entrepreneurship and civic engagement remain national priorities as defined by
the Guinean Ministry of Youth and Youth Employment, with 74% of the population classified as youth (15-35 years old, as
4
defined by the Guinean Government) and 55% under the age of 20.
Education, training and decent employment remain central priorities for the Guinean Government, with an overarching aim to
assist youth in becoming responsible, engaged and well-rounded citizens in order to participate in national development and
5
regional integration.
Unemployment affects 15% of those with a secondary-level education, 42% of those completing technical schooling and 61% of
those with a university degree. Additionally, 70% of those under 25 years old (regardless of educational level) are unemployed.
Unemployment and under-employment are explained by a disconnect between the Guinean economy's needs and the training
and education offered to youth, and further reinforced by a limited number of employment opportunities in the private and
6
public sectors.
Many of Guineas small business operators are considered necessity entrepreneurs due to a lack of other suitable work
options. Despite the fact that these informal business activities drive the Guinean economy at a household level, there exists
minimal training and support to promote entrepreneurial development. In Guinean formal education, entrepreneurship is not
offered until the university level; however, in order to be effective, entrepreneurial spirit and skills would ideally be cultivated
from a much younger age.
The Goal of the YETP
There are many initiatives and structures promoting entrepreneurship in Guinea and the region. The goal of the YETP is to
create a national curriculum that draws from diverse experiences and resources to address the unique needs of Guinean youth.
It aims to provide basic training in business development skills and essential life skills necessary to become an active and
contributing citizen. The YETP can be adapted as necessary and used by a variety of economic actors working in different
contexts to promote entrepreneurship.
YETP has already made great strides in preparing Guinean youth to become successful entrepreneurs. Within the first year over
400 participants graduated from courses taught anywhere from university classrooms to small groups of community members.
Internet cafes, modern brick factories, and organic farms are all examples of businesses that have been launched following
successful completion of the YETP. Additionally, these participants are using existing Guinean funding opportunities to launch
their businesses, which has been a major success for the sustainable financial approach promoted by this program.
What is the YETP?
The YETP consists of a series of lessons promoting not only basic business skills development but also the life skills necessary to
succeed as an entrepreneur in Guinea. The training program mixes hands-on, community-based activities with a traditional
training session format. The following list provides a brief introduction to the contents of each lesson:
Lesson 1 lays out a basic understanding of entrepreneurship and the traits of a successful entrepreneur.
Lesson 2 helps participants to self-identify existing entrepreneurship resources within the community
Lessons 3, 4, 5, and 6 are dedicated to teaching the YETP Five-Step Feasibility Study Process. The process helps
participants to self-identify existing entrepreneurship resources within the community and sets expectations for the
rest of the program.
Ministre du Plan, Plan Quinquennal de Dveloppement Socio-conomique (2011-2015), December 2011.

Ibid.
3
African Development Fund, Republic of Guinea Results-Based Country Strategy Paper (2005-2009), June 2005.
4
Ministre de la Jeunesse et lEmploi des Jeunes, Plan Stratgique de Dveloppement de la Jeunesse et du Sport, September 2011.
5
Ministre du Plan, Plan Quinquennal de Dveloppement Socio-conomique (2011-2015), December 2011.
6
Ibid.
2
Lesson 7 examines the realities of entrepreneurs in local communities, how to work in teams and gives participants the
opportunity to make a presentation in front of the group.
Lesson 8 introduces basic marketing practices.
Lesson 9 provides a simple method of accounting practices through the use of hands-on exercises.
Lesson 10 provides participants with tools to self-identify personal and community resources to initiate their
businesses, including information on Micro-Finance Institutions.
Lesson 11 teaches how to assemble the essential parts of a business plan
Lesson 12 helps participants develop an action plan to start their business by writing goals and objectives, assigning
roles and developing a timeline for starting up the project.
Lesson 13 provides time to reflect on what participants have learned and to award certificates
Appendix i provides a variety of participative activities to promote creativity and innovation among participants
Appendix ii introduces a system to manage the entry and exit of stock as well as inventory
Implementing the YETP

The YETP aims to facilitate hands-on entrepreneurship learning and discovery. It is designed so that trainers and students
embark on a journey together, where trainers facilitate the development of business ideas, practical application of concepts and
tools, and ultimately, the realization of a small business. It is best to implement the training program over several weeks in order
to develop knowledge at an even pace while exploiting the benefits of learning through hands-on application. However, it can
also be taught in a condensed form during an abbreviated period of time as well.
The program should be implemented in a manner that adapts to individual ability, varying comprehension levels and educational
background. It is preferable to keep class sizes between 15-20 students. A modest class size permits trainers to address general
questions, while being flexible enough to work with individuals when needed.
Participants should attend all classes, complete homework assignments and arrive to class on time. Excessive tardiness and
incomplete homework assignments should be considered grounds for removal from the program. However, it is up to the
trainer to decide whether or not a participant should be allowed to continue and/or to reward a certificate at the end. Use the
attached attendance sheet to help verify individual participation and homework completion.
The release of version 2.0 also marks the launch of the Participant Manual. The Participant Manual compliments and enhances
the YETP for its participants, outlining lesson goals, objectives and homework assignments for participants, highlighting key
facts, as well as providing designated space for planned lesson activities. The bottom line is that participants will spend less time
writing and more time discussing, participating and learning. We suggest that trainers make copies of the Participant Manual,
having participants pay to cover the cost. To make YETP more accessible, however, the language in this Trainer Manual assumes
the participants are not using the Participant Manual as it is a supplementary product, not required. Usage of the Participant
Manual is encouraged, but rest assured that the YETP will be a highly effective curriculum with or without it.
Target Groups
In the Guinean context, youth are classified as those between 15-35 years of age. The YETP is designed to address this
population; however, the ideas apply to almost all Guinean entrepreneurs. The program is envisioned to be taught in a variety
of settings as described below:
High School and University levels as an after school activity (although post High School is highly recommended) ;
Vocational trade schools in order to complement technical training with entrepreneurship and employment readiness;
Community youth associations, such as Centre dEcoute, des Conseils, et dOrientation pour Jeunes (CECOJE);
Community-based groups and institutions, including womens groups, Micro-Finance Institutions, nongovernmental
organizations and agricultural cooperatives.
Participant Selection
There are a number of ways to approach the selection of participants. Trainers can develop an application process wherein
potential participants are required to write a short description that explains their motivation to participate, knowledge of
entrepreneurship and future goals. The application also serves as a way to assess participant literacy. Trainers can also work
with teachers, professors and peer educators to identify potential leaders and enthusiastic individuals from existing student or
youth groups.
In high schools, teachers can play a vital role in identifying particularly motivated students and helping align a training schedule
with ongoing classes or other school activities. Within the Maison de Jeunes and CECOJE, trainers can collaborate with peer
educators to create entrepreneurship focus groups. In vocational schools and at the university level, the YETP can be taught as a
complementary subject to each field of study. The program can help students create income generating activities during their
time at school and also prepare them for life after graduation by combining their technical expertise with newly developed
entrepreneurship skills.
With regards to literacy, YETP assumes that participants will come to the program with elementary mathematics skills and basic
French fluency. However, the program can be adapted to varying levels of literacy and translated to local languages as
necessary.
Trainer Qualifications
YETP trainers do not necessarily need a background in entrepreneurship to teach the program. However, they should possess a
university level degree or a combination of professional and life experiences that equates to a level of knowledge sufficient to
understand training concepts, facilitate discussion and lead a class.
Trainers are expected to set a positive example for program participants. This includes preparation of lesson materials in
advance, arriving to class on time, being polite and respectful of a diversity of opinion, and dressing professionally.
YETP Resources
The program is designed so that trainers can teach lesson content using existing resources and infrastructure. If the trainer
decides to use markers, flipcharts and tape, s/he should purchase these materials with assistance from participants and or
partnering community structures.
Lesson References
Lesson 1: What is Entrepreneurship?
Activity 2 was adapted from The New Project Design and Management Workshop Training Manual, Session 1, Success Stories in
the Community: Characteristics of Effective Projects, Peace Corps Office of Overseas Programming and Training Support, Peace
Corps, 2003.
Lesson 2: Entrepreneurship Assets and Deficits
Activities 1, 2, 3 were adapted from The New Project Design and Management Workshop Training Manual, Session 2, Assets and
Deficits: Identifying Our Resources and Expectations, Office of Overseas Programming and Training Support, Peace Corps, 2003.
Lesson 8: Marketing
Activities 1, 2, 3, 4 were adapted from the Guide Scolaire du Cours de Gestion, Marketing, Peace Corps Senegal, 2001.
Lesson 9: Basic Accounting
Activities 1, 2, 3 were adapted from the Programme Promotion de lEmploi des Jeunes en Milieu Urbain (PEJU-GTZ), Guide 3
Comptabilit de Base et Calcul de Couts, Agence de Dveloppement et dEncadrement des Petits et Moyennes Entreprises,
2009.
Lesson 10: Finding Community Resources
Activities 3, 4, 5 were adapted from Les Produits Crdits de CAFODEC Finance, CAFODEC, 2012.
Lesson 13: Action Planning

Activities 1, 2, 3, 4, 5 were adapted from The New Project Design and Management Workshop Training Manual, Session 7 &
8,Office of Overseas Programming and Training Support, Peace Corps, 2003.
Appendix
II: Stock Management
Activities 2, 3, 4, 5, 6 were adapted from the Guide Scolaire du Cours de Gestion, Gestion des Stocks, Peace Corps Senegal, 2001
& Grer Mieux Votre Entreprise, Gestion des Stocks, Bureau International du Travail, 1996
Peace Corps Guinea

Youth Entrepreneurship Training Program (YETP)
Lesson 1: Welcome and Introduction - What is entrepreneurship?
Duration: 120 minutes
Session Overview: (Write out on a flip chart or
blackboard)
1. Welcome, introduction & interest in
entrepreneurship.
2. Introducing entrepreneurship and the wall of
success.
Materials Required:
1.
2.
3.
4.
5.
6.
7.
8.
Large open wall

Flipchart or Blackboard
Markers or chalk
Tape
Tables
Chairs
Notebook
Pens or Pencils
Objectives:
1. Demonstrate a basic understanding of entrepreneurship.
2. Cite traits of a successful entrepreneur.
Trainer Preparations:
1. Tear sheets of flipchart paper in half for Wall of Success exercise. Make sure to have enough paper for each twoperson group.
Time
30 mins
Activity Number/Title
1. Welcome, introduction & interest in entrepreneurship
Activity Details
Welcome, Introduction & Interest in Entrepreneurship:
Introduce yourself as the instructor and your experience with entrepreneurship.
Time
90 mins
Give participants the opportunity to introduce themselves individually and a chance to talk about why
they are interested in entrepreneurship.
2. Introducing Entrepreneurship & The Wall of Success
Activity Details
Introducing Entrepreneurship (A group discussion about their understanding of entrepreneurship in Guinea):
Ask the participants what they think entrepreneurship is. When there are no more responses, write the
following phrase: The definition of entrepreneurship is the act of organizing and operating an income
generating activity, and taking a financial risk to do it.
Pose the following questions and encourage participation for entrepreneurship specifically in Guinea
(30 minutes)
Does anyone practice business in your family?
What are some examples of entrepreneurship in your community?
Which businesses are the most successful in your community? Why?
Wall of Success (An exercise where participants describe examples of an entrepreneur or business that has
succeeded in their community. As examples are described, the trainer notes down the qualities of the
successful business):
Step I: Sharing Stories Building a Wall of Success (45 minutes)
Have participants work in two person teams. Give each pair a half-size sheet of flip-chart paper and a
marker to describe a successful entrepreneur or business. Allow the pairs approximately 10 minutes
to do the assignment and suggest that they use words, symbols or drawings to capture the essence of
the business.
Ask each pair to introduce themselves and tell their individual success story. Allow approximately 2 to
3 minutes per pair for the sharing. After they finish, have them tape their sheet on the designated
wall.
Trainer Note (a): The purpose of this first processing is to allow people to reflect and celebrate, not to
analyze and interpret.
Trainer Note (b): While participants are sharing their success stories, note down all the characteristics
or qualities of successful entrepreneurs/businesses that they mention. Write each characteristic on a
strip of paper or a large-sized sticky note (only one item per note or strip). Keep the notes to yourself
until all pairs have finished telling their stories.
Step II: Identifying and Listing Characteristics of Successful Entrepreneurs (15 minutes)
Move to the front of the room and post the header Characteristics of Successful Entrepreneurship
on the wall. Explain to the group why you were taking notes and then present all of the characteristics
you noted (on the paper strips or Post-It) from their stories. Introduce the items one by one, placing
them in logical order or groupings.
Once you have finished showing participants this initial list, ask them if they can think of any
additional characteristics they want to add. When they are finished, add any other essential items you
think are still missing, such that you have a good master list. Allow a few minutes for clarifications and
place a check mark beside any controversial items to revisit at strategic points during the workshop.
Trainer Note (c): The list should include several of the following characteristics. Fill-in missing items to
enhance the discussion:
o
o
o
o
o
o
o
o
o
Be associated with other individuals

Have a good idea for a business
Commit yourself to efficient management practices
Have good relations with other individuals
Be able to find financing
Work in group settings
Have a good place to practice business
Research people who can help the business start up
Be willing to share with others
Read the following statement aloud to summarize:

Everything that you have listed are your own entrepreneurial observations! You already have an
idea of entrepreneurship and the necessary characteristics to be a successful entrepreneur.
Entrepreneurship is a huge opportunity to respond to a need, create employment, help your
community, create competition, and improve the job market; all while being your own boss and
pursuing a personal interest! With this program you will learn the tools, skills, and necessary steps to
start a business and be a successful entrepreneur!
Homework (Write out on a flip chart or blackboard if not using the Participant Manual)
Task(s):
No Homework
Peace Corps Guinea

Lesson 2: Entrepreneurship assets and deficits & Defining expectations
Session Overview : (Write on a flip chart of blackboard)
1. Create Asset Maps.
2. Create Deficit Maps.
3. Summary discussion and program expectations.
Materials Required:
1. Flip chart or Blackboard
2. Markers or chalk
3. Tables
4. Chairs
5. Masking tape
Objectives:
1. Examine existing entrepreneurship resources using a balanced approach.
2. Identify entrepreneurship resources.
1. 2 blank flipcharts for each break out-group.
2. Markers.
3.
Time
10 mins
Activity Number/ Title

1. Introduction
Activity Details
Raise the following question and facilitate a discussion: As an entrepreneur, is it important to understand
the environment around you? Why or why not?
When all of the responses are done, explain that it is essential to understand the environment around you.
What is available?
What isnt?
What are the opportunities to take advantage of?
What are the threats to avoid?
Time
40 mins
Throughout the entrepreneurial process, it is important to always keep your surrounding environment in
mind in order to make good decisions and be prepared to meet the unique needs of your market. The
activity that we will do today is called Assets and Deficits Mapping and it will help you understand the
positive and negative aspects of the environment in which you work.
2. Creating Asset Maps
Activity Details
Asset Mapping:
Divide the class into groups of 3-4 people. Once settled, have the groups select a single recorder.
Using a notebook, have each group make a list that combines all the participants individual skills
and knowledge that they bring to the Youth Entrepreneurship Training Program.
Give them about 10 to 15 minutes to work. Then stop them and ask them to listen for further
instructions. On a blank flipchart, draw the following scheme, building it from the inside out, as you
describe what to put in each space:
National
Local
Individual
1. In the inside square, write all the individual entrepreneurial skills in your group. Use the list you
have just created.
2. In the outside square, add all the local associations or groups in your community that could assist
you in creating a small business for example, womens groups, religious groups, schools, NGOs,
etc.
3. In the last space around the edges, list all of the national institutions with whom you have
connections for example, ministries, foundations, the Peace Corps, etc., that might be able to
assist in the creation of a small business.
Distribute blank flipcharts and markers to each group. Give them 20 minutes or so to work.
Ask them to list the names of the people in the group on the chart somewhere and to post
their flipcharts along one wall, next to each other.
Have the groups report out their assets maps:

o
Ask each group to report a few items from the centertheir individual skills and
capacities.
Then ask for some examples from the second layercommunity or local resources.
Finally ask for some examples from the outer layer national resources.
Raise the following questions or comments to encourage discussion:

1. As you look at all the individual and group skills, connections to organizations and associations, how
does that make you feel about this group? (Proud, capable, empowered, etc.)
2. We can call these flipcharts assets maps or strength maps. Who created them? You did; this means
that you are aware of your own strengths.
3. Is it important for entrepreneurs to work together with one another and the surrounding
community? Why or why not?
Trainer Note (a): When participants do an inventory of their capacities or skills and identify their linkages to
one another or to groups and institutions, a creative process begins to happen in which people start
thinking and sharing ideas for businesses. As YETP facilitators, we can help people develop ideas into
businesses, and mobilize assets by connecting individuals to groups, groups to institutions, institutions to
institutions, and so on. Sometimes, the best thing we can do is help people who know link up with those
who want to learn.
Time
40 mins
3. Creating Deficit Maps
Activity Details
Deficit Mapping:
Ask participants, in their groups, to do a second map. This time, they should focus on deficits,
issues, or problems that might affect a potential entrepreneurship project:
1. In the center block, list skills or knowledge needed for carrying out an entrepreneurship project
which individuals in your groups lack. Issues could include lack of creativity, insufficient
training, or lack of work supplies.
2. In the next block, list issues or problems in the local community that might hinder completion
of an entrepreneurship project, such as limited finances for the community as a whole;
uncooperative leaders, lack of transportation, lack of paved roads or lack of electricity.
3. In the outer block, list national level issues or problems that might hinder completion of a
project, such as lack of communication resources, lack of means to discover new ideas, or lack
of compatible goals of ministries or NGOs, and so on.
When they have finished, have them post these new maps next to the others and share some of
their observations. Ask them the following questions:
1. Did it feel different to do the two maps? If so, how was it different?
2. How do you feel about the two different visions of your group?
We oftentimes concentrate on what we are lacking, rather than all we have to help us move forward in life.
In doing an exercise like an Assets Map, we realize that there are actually a lot of resources at our disposal
to help us.
3.
4. Where normal people see deficits, entrepreneurs see opportunities. If there isnt stable electricity in your
community they see an opportunity to install a solar panel farm. If they dont know how to do accounting,
they find a friend who can help them. Entrepreneurship involves seeking out creative solutions to address
problems or needs.
Time
30 mins
4. Summary Discussion and Program Expectations
Activity Details
Summary Discussion: (15 minutes)
Summarize the discussion by asking the group: What was the point of making these maps? The
group should come up with at least the following:
o Realize how much we each have to offer.
o Realize how many resources we have at our disposal.
o Not focus on what you lack or need.
o Provide a balanced perspective on entrepreneurship strengths and weaknesses.
Explain to participants that in this program we want to reinforce that it is more positive to:
o First, build on strengths and existing resources, because it empowers participants.
o Second, acknowledge that resource deficits may exist.
o Third, have participants self-identify their entrepreneurship goals before we try and assist
them.
Defining Expectations: (15 minutes)

Building on this theme, ask participants: What do you expect or want from the Youth
Entrepreneurship Training Program? Give participants a moment to think first, and then give each
person a chance to speak. List their responses on flipchart paper. Clarify any expectations that will
not be met by the program.
Wrap up the session by stating: We, the trainers, will do our best to meet your needs. But lets not
forget that everyone here is a resource. The program will accomplish what we want if we all put in
our best efforts. Are we ready? Okay, here we go!!!
Task(s):
1. Go into your community as an entrepreneur. Observe the associations, the products and the people that exist
in your community and note 10 assets not discussed today. All of your observations can be an asset for you as
an entrepreneur. Also observe the frustrations, the needs and what is lacking in your community and note 10
deficits not discussed today. All of your observations assets and deficits - can fuel entrepreneurial
opportunities.
10
Peace Corps Guinea

Lesson 3: Feasibility Study Steps 1 & 2 Make a business choice and Conduct market research
Session Overview: (Write out on a flipchart or
blackboard)
1. Introduction to the feasibility study.
2. Make a business choice (Step 1).
3. Conduct market research (Step 2).
Materials Required:
1.
2.
3.
4.
5.
Flip chart or Blackboard

Markers or chalk
Tables
Chairs
Masking tape
Objectives:
1. Understand the importance of a feasibility study in entrepreneurship.
2. Choose a business idea.
3. Assess personal entrepreneurial readiness.
1. Write out statements on three flipcharts or on the blackboard.
Time
15 mins
1.
Introduction to the feasibility study
Activity Details
Why conduct a feasibility study?
Ask participants why planning is important before undertaking a business. Write answers on a
blank flipchart or blackboard.
Time
85 mins
After all answers have been exhausted, produce a new flipchart with the following bullet points.
Have participants read the points out loud:
o Many businesses fail due to a lack of adequate planning, foresight, participatory analysis, selfevaluation and engagement.
o A feasibility study is a tool to evaluate whether or not a specific business is possible and if it will
be profitable.
o A feasibility study requires careful analysis of all aspects involved in pursuing a new business.
Produce a flipchart that shows a snapshot of the YETP Feasibility Study. Summarize the five steps
and ask if there are any questions:
o Step 1: Make a business choice
o Step 2: Conduct market research
o Step 3: Define business operations and the three types of costs
o Step 4: Calculate the cost per unit, determine the selling price, and estimate sales income.
o Step 5: Decide if the business is a good idea
Explain that in this program, participants will have the chance to walk through each of these steps
with a business idea they choose. In order for them to fully benefit from the program, everyone
will need to be proactive and engaged in learning from the community around them. Today we will
cover steps 1 and 2 of the feasibility study.
2. Make a business choice (Step 1)
Activity Details
Deciding on a Business: (5 minutes)
Write out the following statement on a flipchart or blackboard and have one of the participants
read the text out loud:
o There are many reasons why people choose to sell a certain product or service. When
considering a product or service, its important to draw from past experiences, use all possible
resources, have a strong awareness of the environment around you and embrace creativity and
innovation.
Brainstorm potential business ideas: (60 minutes)
Have participants break out into three to four groups and designate a recorder and speaker.
o
Once formed in groups, have them think of the most popular products and services that are in
the community noting in their notebooks. Once finished, have each group report their list
and explain why the products are so popular.
11
Mention that knowing which products are popular and why is an important entrepreneurial skill.
Its also important to identify other entrepreneurial opportunities by identifying products/services
that dont exist in your community, products/services that do exist but could be better or different
and which products/services exist in another community and could be successful in yours. Staying
in the same groups, have participants continue the work they have already started by answering
the following questions.
o
o
o
o
o
o
o
What products or services do people need (clothing, food stuffs, soap, etc.)?
What products or services do people want (candy, toys, make-up, hair products, etc.)?
(Products that people desire- and do not need- are still appealing to the entrepreneur.)
What products and services are not available in the community? (If a product is unavailable
this does not mean a demand for it does not exist.)
What products/services have you observed in another community that do not exist here?
What products consumed in this community come from another community?
How far do people travel for the products/services they want?
What are sources of frustration in your community?
Choosing a business activity: (10 minutes)

Have participants come back together as a full group. Based on the brainstorming activity, ask each
individual to think of three business activities that could be feasible in their community.
Ask participants to read their three ideas to the class. What does the class think about their ideas?
Determining entrepreneurial readiness (consider the following): (10 minutes)
Ask a few leading questions to get participants thinking about their readiness to launch a business.
Write answers on a flipchart or blackboard. For example:
o
What are some factors and personal skills youll need to consider before starting the business
you have chosen?
Once the group has exhausted all its ideas, write the following on a new flipchart or blackboard and
provide examples where appropriate:
o
Practical aptitude: Am I capable of producing the products and (or) services of my business? If
not, where will I find the necessary training?
Psychological aptitude: Am I determined to progress, take risks, remain motivated, make

decisions, and maintain a healthy family situation?
Financial situation: Do I have my own funds to start my business? Am I ready to invest them
into my business? Are there other sources of financing? (i.e. bank, family, friends, co-workers?)
(Note: If the business idea is too big for the available financial resources, is there a way to start
off smaller, and grow the business over time?)
Trainer Note (a): Its important for participants to understand how these feasibility study steps relate to
their potential business. To help reinforce participant comprehension, you will use National Sandwich as a
concrete example to illustrate the real life applications of these lessons throughout the rest of the program.
This example is most effective when told as a firsthand account.
National Sandwich
For me, I work at the market. Im there every day. After my entrepreneurial training I started to think and
observe like an entrepreneur. Because I work at the market, I also eat my lunch each day at the market.
After a few months, I started to become frustrated with the lack of diversity in lunch options. There are
always the same options: rice and sauce, beans, and t. In fact, Id like to eat something different every
once in a while, but there arent any options. Im frustrated! But as a result of my training, I know that a
frustration can be an entrepreneurial opportunity! So I ask myself the questions listed above to see the
opportunity. I know that an improvement is needed, and when Im visiting other towns I see that
sandwiches are very popular! In fact, sandwiches dont exist here, but I observe community members who
travel to other towns just for the trendy restaurant options. That could be an entrepreneurial opportunity!
Time
30 mins
3. Conduct market research (Step 2)
Activity Details
12
Brief Introduction: (5 minutes)

Introduce this activity by explaining that the participants began this process in Step 1 when
deciding which business activity to pursue. This activity allows participants to further examine
customer demand by conducting market research.
Ways to collect information: (25 minutes)
Ask participants to contribute ideas for ways that they could collect market information
on their business. Write the answers on a flipchart or blackboard.
Explain that in order to conduct a basic survey of consumers, one has to go through the following
process:
1. Visit your potential market as an entrepreneur rather than a consumer.
2. Entrepreneurs must ask if customers would want their product/service. (In order to do this,
entrepreneurs have to meet with as many customers as possible. This will provide a wide range
of perspectives.)
Ask members of the community (family, friends, religious leaders, traditional leaders, the
mayor, the Director of Micro-Projects, the Prefect)
Research or reflect on products and services available in the surrounding communities
Observe local businesses
3. Find out if other businesses sell your product:
Where?
How many?
How are they organized?
Ask participants the following question: If other businesses sell similar product(s)/service(s), why
might a customer buy from you instead? How can you be different? Write answers on a flipchart
or blackboard, fill in any answers that havent been mentioned:
For example, the competitor:
o Is not well organized
o Takes too long to deliver the product
o Charges too much for the product/service
o Does not have a good work ethic
o Does not have enough supply to meet the demand
o Does not have good customer service
o Does not have a good relationship with the community
o Is located too far away
o Does not do any marketing
Explain that entrepreneurs must consider whether they can do a better job than their competitors.
You should reflect on your value proposition why your business exists, how you are different, if
you offer a solution to a need, the reason a client would buy from you instead of someone else.
Differentiation and creativity are essential for entrepreneurs. Dont forget: to be an entrepreneur
is to be original!
This research cannot be completed sitting in the classroom. Entrepreneurs have to go out and
actively engage with community members to collect information.
Trainer Note (b): You will use National Sandwich to illustrate the importance of market research.
Again, this is most effective to explain this example as if it is a firsthand story.
National Sandwich
So, I have an entrepreneurial idea and Ive made my choice. Now, I must see if theres a demand! So I
start my market research. I go to the market where everyone eats, and I observe possibilities for
improving on products and services offered. In fact, the little restaurants have employees who are rude
and slow, there isnt a menu so I dont even know what to ask for, and the places are dirty. After my
observation, I start to talk with a lot of people at the market. I ask my colleague, Mr. Bah, Mr. Bah, what
do you think about the options to eat at the market? He says, You know, actually, I dont like the
options that are here. Im always frustrated with the service, and the quality isnt very good. So, I ask
again, And what do you think of sandwiches? He responds, Ah I like sandwiches! I wish that there
were options like that here! So I know a demand exists with Mr. Bah. Now, because Im an
entrepreneur, I have to be motivated and determined to talk to A LOT of people. I have to see if there
really is a demand for my product in the community. Also, after talking with a lot of people, I have an
idea about my target clients and their desires/needs. After some weeks of conducting market research, I
13
have an idea of my competitors and how I can be different, and I think that there really is a demand that
exists for unique food options - sandwiches in particular!
Trainer Note (c): Take this time to explain to the participants the importance of completing their homework. They are
here because they want to become great entrepreneurs, but what is the point if they arent willing to put in the time
and effort to practice what they learn in class? Each homework is essential to participant comprehension and future
class discussion. They arent going to get anything out of this program if they dont do it!
Task(s):
1. Presentation of your entrepreneurial idea. You will present your business and the following aspects at the
beginning of the next class:
o The main product or service of the business
o The potential clients
o How the product or service will be sold
o How the product or service responds to a need
o The main competitors
o How your product or service compares to your competitors
14
Peace Corps Guinea

Lesson 4: Feasibility Study - Step 3 Define business operations and the three types of costs
blackboard)
1. Presentation of business ideas.
2. Define business operations.
3. Explain the three types of costs.
Materials Required:
1.
2.
3.
4.
5.

Markers or chalk
Tables
Chairs
Masking tape
Objectives:
1. Demonstrate comfort in presenting business ideas.
2. Establish all aspects necessary for the business to function.
3. Understand the three types of costs.
1. Blank flipcharts
Time
30 mins
1. Presentation of Business Ideas
Activity Details
Individual Presentations
Have a number of participants come to the front of the class and present their business ideas.
The idea should correspond to the questions from the homework.
Time
30 mins
2. Define business operations (Step 3)
Activity Details
Determine how the business will operate:
Open the session by explaining that once a business idea has been chosen and the demand is
confirmed through market research, the entrepreneur must now examine how the business will
function. This includes determining the operations of the business, or specifically outlining
everything youll do to run your business effectively. This will help you determine all the costs
involved in starting and running your business.
Ask the following question: What are some expenses/costs you would come across in running your
business? Write the responses on a flipchart or blackboard.
Complete the list with the following considerations for determining the operations of a business.
These questions can be a method to uncover all costs required to start a business. Emphasize that
facility costs, rent, electricity, and water are oftentimes overlooked but are actually an important
part of almost any business operation. Provide examples where necessary:
o
What type of facility is necessary to house your business?
o
o
What materials do you need to produce your product/service?

Who will do what to make the product/service? How many people are involved?
o
o
o
Does the product require packaging? What kind?

What transportation do you need to move your materials and/or to sell your product?
If applicable, how many items will you make in one production cycle?
Trainer Note (a): Once again we will draw on our example of National Sandwich to illustrate the three types
of costs.
National Sandwich
After I saw a demand for a more professional" restaurant, and in particular one that sells sandwiches, I
researched and reflected on all of the costs necessary to start and maintain my business.
In addition, explain that youve decided that one way to be different is to have a comfortable, friendly, and
professional atmosphere: a clean building that always has electricity, paintings, a television, packaging and
labels, etc. In order to accomplish this, youll need many things (Write all of the following costs on the
flipchart or blackboard, relating each cost to one of the previous questions).
15
What type of facility is necessary to house your business?

Building construction, License, Insurance (monthly)
What materials do you need to produce your product/service?

Bread, Avocados, Onions, Tomatoes, Maggi, Oil, Salt, Pepper, Mayonnaise, Plates,
Refrigerator, Silverware
Who will do what to make the product/service? How many people are involved?
Employee(s) (salaried)
Does the product require packaging? What kind?

Packaging, Labels
What transportation do you need to move your materials and/or to sell your product?
Transport Maggi from Kindia
Time
60 mins
Anything else? What about our professional atmosphere?

Utilities (rent, water, electricity), Generator, Gasoline, Paintings, Chairs, Tables, Television,
Marketing (monthly), Marketing (initial)
3. The three types of costs (Step 3)
Activity Details
Continue Step 3 while explaining that once you have detailed what is necessary in order for your
business to function, you have to start to separate these things into 3 categories - The Three
Types of Costs :
1. Start-up Costs
2. Direct Costs
3. Indirect Costs
1. Start-up Costs
Start-up costs constitute one-time fees that shouldnt be included in the calculation of the price of
the product
Explain that responding to the following questions can help determine start-up costs:
To start my business, will I need or have
o Machinery or equipment?
o Construction costs?
o Furniture required to start up my business (tables, chairs, pens, pencils, desks,
notebooks, paintings, a generator, etc...)?
o Legal demands?
o Initial marketing costs?
Explain to the participants that accurately calculating start-up costs is important so that you have a
clear idea of your initial financial needs. This can help you know whether or not the scope of
your business is realistic and/or what additional resources youll need to make it so.
Trainer Note (b): Use the National Sandwich example to have participants identify its start-up
costs.
National Sandwich
Small Activity: Give the participants five minutes to examine the original list of costs you shared
for National Sandwich and pick out which are start-up costs and why. The final list of start-up
costs for National Sandwich: Building Construction, Paintings, License, Chairs, Tables, Marketing
(initial), Refrigerator, Generator, Silverware, Television, Plates.
2. Direct Costs
The direct costs change according to the volume of production/service. They include the product
materials, transport, packaging, etc. If you sell 10 units of product, the direct costs will be
different from 30 units of product.
16
Trainer Note (c): Use the National Sandwich example to have participants identify the businesses
Direct Costs.
National Sandwich
Small Activity: Give the participants five minutes to again examine the original list of costs you
shared for National Sandwich and pick out which are direct costs and why. The final list of direct
costs for National Sandwich: Bread, Avocado, Onion, Tomato, Maggi, Oil, Salt, Pepper,
Mayonnaise, Packaging, Labels, Transport Maggi from Kindia.
Ask the participants if these aspects change according to the production volume of the sandwiches.
They should respond Yes!
3. Indirect Costs
The indirect costs are the required administrative costs to make the business function. They dont
change when the volume of the product or service changes. The indirect costs include utilities
(rent, water, electricity), worker salaries, commercialization, loan payments, etc... If we sell 10
units of the product, the indirect costs will be the same as if we sold 30 units.
Trainer Note (d): Use the National Sandwich example to have participants identify its Indirect
Costs.
National Sandwich
Small Activity: Give the participants five minutes to again examine the list of costs you shared for
National Sandwich and pick out which are indirect costs and why. The final list of indirect costs for
National Sandwich: Utilities (rent, water, electricity), Marketing (monthly), Insurance (monthly),
Gas, Employee salaries.
Trainer Note (e): Point out that indirect/direct costs may vary by business. For example, if
electricity costs change in direct proportion with your level of production, this may actually be a
direct cost. Similarly, if employees are paid based on their production level (a tailor paid per
article of clothing made) rather than a set number of hours each week (for example, a tailor paid a
monthly salary regardless of how many articles of clothing he makes), this may also actually be a
direct cost.
Ask the following questions: Why do you think its important to be aware of classifying these three
different types of costs?
Afterwards, explain to the participants that being aware of and classifying these three types of
costs is important in order to make accurate financial plans (as we discussed with the start-up
costs) and also to accurately calculate the selling price and estimate sales income, which we will
do next class!
What are your costs? (5 minutes)
Ask participants to reflect on the costs concerning the functioning of their business (participants can
work in groups or individually).
Assist the participants if there is any confusion.
Task(s):
1. Exercise Define your business operations by responding to all the questions provided in todays session.
Youll likely find that youre missing a lot of information needed to answer these questions.
You should go out in the community and conduct research to make sure that you collect accurate
information about your business costs.
2. Categorize each cost as Start-up, Direct or Indirect.
17
Peace Corps Guinea

Lesson 5: Feasibility Study Step 4 Calculate the cost per unit, determine the selling price and estimate sales income.
blackboard)
1. Review of Step 3.
2. Calculate cost per unit.
3. Determine selling price and calculate the
profit per unit.
4. Estimate sales income.
5. Work in class.
Objectives:
1.
2.
3.
Materials Required:
1.
2.
3.
4.
5.

Markers or chalk
Tables
Chairs
Tape
6.
Understand the importance of obtaining production cost per unit in deciding the selling price.
Determine the selling price while considering potential clients, the competition and the cost of their product/service.
Understand how the estimation of sales income will help you plan.
4.
1. Write out statement on determining the cost of your product.
2. Create a product cost table on a flipchart.
3. Blank flipchart for writing out how to determine the selling price.
4. Blank flipchart for writing out the steps to estimate sales income.
Time
10 mins
1. Review of Step 3, Define Business Operations and the Three Types of Costs
Activity Details
Define Business Operations and the Three Types of Costs review
Explain that it is vitally important to understand how your business will operate in order
to move on to the next step. Business operations and their associated costs are a central
part of determining the cost of your product, which we will see shortly.
o Ask for a couple examples of business operations from the homework.
Time
40 mins
Ask if there are any questions or comments regarding how to determine business
operations. Respond as necessary.
Ask if there are any questions regarding the three types of costs. Respond as necessary.
2. Calculate Cost per unit (Step 4)
Activity Details
Obtaining wholesale prices: (10 minutes)
Write the following on a flipchart or blackboard. Have one of the participants read the text out
loud.
Obtain wholesale prices for your product material(s) by asking for price quotes from several
wholesalers. Do not settle for one price. Oftentimes, you can lower the price of your product by
practicing competitive bidding between suppliers.
Try to find at least three suppliers who can provide you with pricing for each different item.
Calculation of cost per unit :
Explain to the participants: Each entrepreneur has to confront a classic problem when they set their price.
If it is too high, you discourage the clients, but if its too low, you wont earn a profit. Today, well approach
this problem by calculating the unit cost.
The direct and indirect costs are included in the calculation of product cost. The goal in calculating costs is
to find the production cost to the entrepreneur per unit. If you have many products/services in your
business, you have to find the cost for each unit. For example, with National Sandwich, we have to calculate
the cost for each sandwich on the menu (the ingredients will be different for each sandwich). The cost per
unit is calculated as follows:
Direct Costs per Unit
Indirect Costs per Unit
Total Cost per Unit
18
Before starting the process of calculating the costs, write the following on a flipchart or blackboard.
Ask one of the participants to read the text out loud:
Why calculate the unit cost?
1. To establish your prices.
If you know the total of your costs, you can then establish your selling prices to obtain a profit.
2. To minimize and control your expenses.
If you know all of your costs, you will be able to find the best means of producing and selling your
goods and services.
3. To make better decisions concerning your business.
Knowing the costs of each of your products or services in detail will help you make better sales
decisions in order to obtain a sufficient profit.
4. To plan.
Knowing the details of all of your costs well will help you plan. For example, you need to know all
of your costs before being able to plan your sales and costs or your liquidity flow.
Calculate the Cost per Unit Step 1 : Direct Costs Per Unit (10 minutes)
Unveil the uncompleted Product Cost Table (found on page 22) on a page of flipchart paper.
Trainer Note (a): We will use National Sandwich as an example to fill out our Product Cost Table.
National Sandwich:
We are now ready to calculate the price of our first sandwich, Syli Sandwich! Refer to the completed
Product Cost Table on page 24 to see the list of direct costs, their quantities and prices.
Please keep the following information in mind when filling out the Product Cost Table:
The specific product is Syli Sandwich one item on the menu of National Sandwich. The
ingredients will be different for each sandwich therefore we would fill out a different Product
Cost Table for every type of sandwich we offer.
We will complete the table with a quantity of 10 sandwiches (the stated quantity of each ingredient
is however much it takes to produce 10 sandwiches). Why? Because often times the quantities
that we use to make just one product are too small and therefore difficult to calculate.
For this example, we determine we want to ship Maggi in from Kindia. Regarding the
transportation costs, we only want to know the cost for 10 sandwiches:
o For this example, we find that it costs 10,000 GNF to transport 500 cubes of Maggi
o Therefore transportation is 20 GNF per cube
o We decided that we need 2 cubes for 10 sandwiches
o Therefore transportation cost for 10 sandwiches is 40 GNF
Divide the total direct costs for 10 sandwiches by 10 to find the price per sandwich
Calculate the Cost per Unit, Step 2 : Indirect Costs Per Unit: (15 minutes)
There are 4 Steps to find the indirect costs per unit (we will call them Steps A-D):
A. Calculate the total indirect costs per month.
B. Find the hours of operation per month.
C. Estimate the amount of product sold per month.
D. Calculate the indirect costs per unit.
In order to find the total direct cost per sandwich, we used one specific quantity, but to find the
total indirect costs per sandwich we will use a forecast of the total sold.
Trainer Note (b): We will use National Sandwich as an example to fill out Figures 1 - 4 (found on
page 23, with the completed examples found on page 25).
National Sandwich
We now want to calculate our indirect costs per unit. Please keep the following information in mind when
calculating the indirect cost per Syli Sandwich:
Step A: To calculate the total indirect costs per month
o Refer to the completed Figure 1 on page 25 to see the list of indirect costs National
Sandwich will incur
19
o
o
Step B:
o
o
Step C:
o
o
o
o
Step D:
o
o
For this example, we also decided that we will spend 30,000 GNF each month for our
marketing efforts.
We also decided to have an employee present when were open (apart from us). We will
pay our employee 5,000 GNF per hour. We are open 338 hours per month (refer to Step
B). 338 hours x 5,000 GNF = 1,690,000 GNF.
Find the hours of operation per month
Fill out Figure 2, found on page 23, with the participants.
We will assume that we are open 13 hours a day (9-22h), 6 days a week (Tuesday through
Sunday). Finally, we want National Sandwich to be open 26 days a month. This means we
will be open 338 hours per month (13x26).
Estimate the amount of product sold per month
Fill out the uncompleted Figure 3, found on page 23, with the participants.
At this point, we have to make an estimation of the amount sold. From our market
research and the demand, we project that we will sell an average of one sandwich every
15 minutes that we are open. This is an average; when we are really busy, we could project
that we will sell one sandwich every five minutes and when business is slow, we sell one
sandwich every 30 minutes, and so on.
This is just a projection and it wont be perfect, but with an intelligent projection we can
be sure that all of the indirect costs will be accounted for and that we will be profitable.
In order to find the sum of the product sold per month, multiply the hours of operation
per month by the estimation of the amount sold per hour.
Calculate indirect costs per sandwich
Divide total indirect costs per month by the estimated amount of product sold per month
to find the indirect costs per unit
Complete Figure 4, found on page 23, with the participants
Calculate the Cost per Unit, Step 3 : Total Cost per Unit (5 minutes)
Add the Direct Costs per Unit and the Indirect Costs per Unit
During the explanation, fill out the table with the participants while using the example of National
Sandwich.
Time
20 mins
3. Determine the selling price and calculate the profit per unit (Step 4)
Activity Details
Brief introduction:
Explain that in order to determine the selling price you have to speak with potential customers,
study your competition and consider the calculated cost, determining the selling price for each
product.
Also consider, how much do you expect/ hope to earn in a month through your business? Six
months? A year?
Write down the following points and explain their significance:
When speaking with potential customers, what is an acceptable price level for your product or
service from your point of view?
When considering your competition:

o What are your competitors prices?
o If your price is higher than your competitors, why will the client buy from you?
Trainer Note (c): We will now use our National Sandwich example to calculate our selling price for one Syli
Sandwich.
National Sandwich:
Explain that with our value proposition, the competition (the options for food that already exist)
and the demand that exists (from our market research), 8,000 GNF for our sandwich is an
acceptable price for our clients. Moreover, we can decide if the 2,345GNF is a good profit or not
based on our own personal needs. With a cost of 5,655 GNF, that will be a profit of 41% per
sandwich which is very desirable for our business! Therefore, with this information, we can be
confident in our price of 8,000 GNF.
Ask the participants if they see the connection between calculating cost per sandwich and
determining the selling price. Why is it important to make responsible decisions regarding costs?
20
Time
20 mins
4. Estimate sales income (Step 4)
Activity Details
Brief Introduction:
Write out the following statements on a flip chart and have a participant read them out loud.
o
To estimate sales income, we should consider how much can be sold daily, weekly, and
monthly.
Estimating sales is a risky part of business, but also allows you to see if your potential
income is desirable.
It is possible to determine costs fairly exactly. Nevertheless, the volume of sales will
always be an estimate. Its important to estimate sales income following different best
case and worst case scenarios to ensure that different possibilities are taken into
account.
Estimating sales income will also help you better manage your finances, including planning
for repaying start-up cost loans, estimating when your business will become profitable
and knowing when to hire another employee.
Trainer Note (d): We will now use National Sandwich to estimate our sales income following Figure 5 on
page 26.
National Sandwich:
Using the Estimation of Sales Income Table as an example, write out the steps for estimating daily,
weekly, and monthly income, filling out the Estimation of Sales Income Table on a black flip chart.
In case there is any confusion regarding the difference between income and profit: income is the
money that will come from sales while profit is the money you have after you pay your expenses
(direct and indirect costs).
Time
30 mins
5. Work in class
Activity Details
Begin filling out the product cost table:
Have participants create Product Cost Tables for their own business idea and fill them in where they
can. Students can either work individually or in groups.
Respond to any questions.
Task(s):
1. Exercise
Visit with wholesale vendors to obtain prices of your product/services materials.
Conduct the calculation of cost per unit (direct and indirect costs) for your own business.
Determine your selling price:
o Visit with potential customers.
o Consider your competitors price.
o Consider the cost per product/service.
Estimate your daily, weekly and monthly sales income using different scenarios.
21
Product Cost Table

1. Direct Costs per Unit
Calculation of Costs: Name of Business
Product: __________________________
Direct Cost
Quantity: ________________________
What we need
How much (quantity)
Cost for
______________
(quantity)
Materials
Packaging
Transportation
Total Direct Costs

(per designated quantity)
Total Direct Costs

per Unit
22
2. Indirect Costs per Unit

A.
B.
C.
D.
Calculate the total indirect costs per month.

Find the hours of operation per month.
Estimate the amount of product sold per month.
Calculate the indirect costs per unit.
Figure 1:
A. Calculate the total indirect costs per month:
Indirect Costs
per Month
Cost per Month
Total Indirect Costs per Month
Figure 2:
B. Find the hours of operation per month:
Hours open:
~ hours per day
~ days per week
Hours open per month
~ days per month
Figure 3:
C. Estimate the amount of product sold per month
Hours open per month x
Estimation of product
= Estimation of product
sold per hour
sold per month
Figure 4:
D. Calculate the indirect costs per unit:
Total Indirect costs per month
=
Indirect costs per unit
Estimation of units sold per month
3.
Total Cost per Unit
Direct Costs per Unit
Indirect Costs per Unit
Total Cost per Unit
23
Product Cost Table National Sandwich

Calculation of Costs: National Sandwich
1. Direct Costs per Sandwich
Product: __Syli Sandwich________
Direct Costs
Materials (Ingredients)
Packaging
Transportation
What we need
Quantity: __10 Sandwiches_________
How much (Quantity)
Cost for
_10 sandwiches __
(quantity)
Bread
5 loaves of bread
15,000 GNF
Avocado
5 avocados
5,000 GNF
Onion
5 onions
2,500 GNF
Tomato
10 tomatoes
5,000 GNF
Maggi
2 cubes
500 GNF
Oil
.25 kilos
1,250 GNF
Salt
.10 kilos
50 GNF
Pepper
.10 kilos
50 GNF
Mayonnaise
1 kilo
10,000 GNF
Packaging
10
1,000 GNF
Labeling
10
1,000 GNF
Maggi (coming from

Kindia)
2 cubes
40 GNF
Total Direct Costs

(for 10 sandwiches)
Total Direct Costs

per Sandwich
41,390 GNF
4,139 GNF
24
2. Indirect Costs per Sandwich

A.
B.
C.
D.
Calculate the total indirect costs per month.

Find the hours of operation per month.
Estimate the amount of product sold per month
Calculate the indirect costs per sandwich.
Figure 1:
A. Calculate the total indirect costs per month:
Indirect Costs per month
Cost per month
Utilities (rent, water,

electricity)
20,000 GNF
Marketing
30,000 GNF
Insurance
10,000 GNF
Gasoline
300,000 GNF
Employee Salaries
1,690,000 GNF
Total Indirect Costs

per month
2,050,000 GNF
Figure 2:
B. Find the hours of operation per month:
National Sandwich is open:
~ 13 hours per day (9h 22h)
~ 6 days per week (Tuesday Sunday)
~ 26 days per month
Trainer Note (e): In order to find the total

direct cost per sandwich we used one
specific quantity (10 sandwiches). In order to
find the total indirect cost per sandwich, we
will use our prediction of the amount sold
338 hours per month
Figure 3:
C. Estimate the amount of product sold per month:
338 x 4
1,352 Sandwiches sold per month
Figure 4:
D. Calculate the indirect costs per sandwich:
2,050,000 GNF per month
=
1,516 GNF per sandwich
1,352 Sandwiches per month
3. Total Cost per sandwich
4,139 GNF
1,516 GNF
5,655 GNF per sandwich
25
Determine the Selling Price and Calculate the Profit per Unit
Selling price per unit
Cost per unit
Profit per unit
Determine the Selling Price and Calculate the Profit per Unit National Sandwich
8,000 GNF
5,655 GNF
2,345 GNF
Estimate Sales Income

Figure 5:
Daily, Weekly, and Monthly Sales Income:
Daily Sales Income = Price per unit x # units sold per day
Weekly Sales Income = Daily Sales Income x # days worked per week
Monthly Sales Income = Daily Sales Income x # days worked per month
Estimate Sales Income National Sandwich

Daily, Weekly, and Monthly Sales Income for Syli Sandwich:
Daily:
52 sandwiches x 8,000 GNF = 416,000 GNF of income per day
x 2,345 GNF = 121,940 GNF
of profit per day
Weekly:
6 (days per week) x
416,000 GNF of income = 2,496,000 GNF of income per week
6 (days per week) x
121,940 GNF of profit
Monthly:
26 (days per month) x
26 (days per month) x
= 731,640 GNF of profit per week
416,000 GNF of income
10,816,000 GNF of income per month
121,940 GNF
3,170,440 GNF
of profit
of profit per month
26
Peace Corps Guinea

Lesson 6: Feasibility Study Step 5 Decide if the business is a good idea
blackboard)
1. Review of Study Step 4.
2. Introduction to S.W.O.T. Analysis and the
Business Idea Checklist.
3. Work in class.
Materials Required:
1.
2.
3.
4.
5.

Markers or chalk
Tables
Chairs
Masking tape
Objectives:
1. Analyze business on many different levels.
2. Decide if a business idea is feasible.
3. Decide whether or not to invest money in a business.
1. Design a flipchart that shows the S.W.O.T. Decision Table.
2. Design a flipchart that shows the S.W.O.T. Analysis Table.
3. Design a flipchart that shows the S.W.O.T. Flow Chart.
4. Design a flipchart that shows the Business Idea Checklist.
Time
30 mins
1. Review of Step 4 Calculate the cost per unit, determine the selling price and estimate sales income
Activity Details
Calculate costs, selling price and estimate sales income review:
Ask for volunteers to present what they found for their homework. Ask the participants what
challenges they came across in accomplishing Step 4.
Time
30 mins
Explain that we cannot know whether or not a business idea is feasible without calculating the
product cost and sale price of the product. Each process represents a critical aspect of the
feasibility study, which we will see shortly.
Ask if there are any further questions or comments regarding how to determine the cost of your
product or service.
Ask if there are any further questions concerning how to calculate the selling price.
Ask if there are any questions about how to calculate the daily, weekly, and monthly sales income.
2. S.W.O.T. Analysis Strengths, Weaknesses, Opportunities, Threats (Step 5)
Activity Details
Introduction:
Explain that this is the last step in the Feasibility Study. There are still many more steps to go
before getting the business up and running smoothly, but this is the final decision prior to investing
in the enterprise.
The YETP utilizes a S.W.O.T. Analysis and Business Idea Checklist to help the entrepreneur verify
that the business idea is sound. These tools are meant to assist the entrepreneur to think critically
about his/her decision prior to starting a business.
The S.W.O.T. Analysis considers strengths, weaknesses, opportunities and threats across financial
aspects, physical aspects, technical capacity, the market, social environment, supply of raw
materials and production processes and information.
Test idea with a S.W.O.T. Analysis:

Introduce the S.W.O.T. analysis by explaining that participants have to know whether the project is
competitive and profitable. The S.W.O.T. analysis helps to evaluate (and eventually decide) whether
or not to pursue the business idea.
Write the following bullet points on a flipchart or blackboard and have a participant read them out
loud:
o S.W.O.T. examines the strengths and weaknesses within the enterprise and your personal
situation that could affect the enterprise.
27
S.W.O.T. considers the opportunities and threats outside of your enterprise and helps to
evaluate the situations outside of your influence that you can either utilize to your advantage,
or avoid. The result of the S.W.O.T. analysis will permit you to:
Continue your project and make your feasibility study complete;

Make modifications to the business; or
Abandon the project completely.
The S.W.O.T. Decision Table is envisioned as a verification tool to make sure that all aspects of the
feasibility study have been utilized and verified.
o Produce a flipchart that shows a blank S.W.O.T. Decision Table. Explain the four quadrants
using examples.
When conducting your S.W.O.T. analysis, it should be carried out in terms of your financial
situation, physical aspects, technical capacity, the market, social environment, supply of raw
materials, production processes and information.
o Produce a flipchart that shows the S.W.O.T. Analysis Table. Explain the quadrants using
examples.
National Sandwich
Show participants an example of the analytical process of National Sandwich.
o Explain the direction of decision-making using the examples.
Time
20 mins
3. Business Idea Checklist (Step 5)
Activity Details
Filling out the Checklist:
Write out the attached Business Idea Checklist on a flip chart or blackboard. Have participants copy
it into their notebooks if not using the Participant Manual.
Have participants think about the business decision based on their background research, the
S.W.O.T. Analysis and the sum total of responses in the table. They can write an X in the
appropriate box and (or) make remarks as necessary.
Time
40 mins
4. Work in class
Activity Details
Have participants fill in the S.W.O.T. Decision Table for their business:
Assist participants in starting the analysis. Students can either work individually or in
groups.
Respond to any questions.
Task(s):
1. S.W.O.T. Analysis:
Finish the S.W.O.T. Analysis.
Fill in the Business Idea Checklist.
Based on the S.W.O.T. analysis and results of the Business Idea Checklist, decide whether or not you want
to continue with the business.
2. Entrepreneurship Questionnaire:
Conduct the Entrepreneurship Questionnaire with an entrepreneur.
28
S.W.O.T. Decision Table

Business Idea:
Strengths
(positive factors to capitalize on)
Weaknesses
(negative factors to eliminate)
Opportunities (to seize)
Threats (to avoid / to consider)
29
S.W.O.T. Analysis Table
Financial Aspects
Owner capital
Proforma Cash-flow Statement
Have I met investment
requirements?
Is the project profitable?
Risk
Technical Capacity
Capacity to manage technical
aspects of the business/product
Age/experience
Personnel management
Physical Aspects
Building
Workshop and machines
Site
Means of transport
Infrastructure and services
Market
Profile of target market
Marketing strategy of your
competition
Characteristics of product(s)
Difference of quality
Supply & Demand (past, present,
future)
Social Environment
Do consumers accept the
product?
Is there a particular prejudice,
appreciation or aversion to the
product?
Supply of Raw Materials

Are the sources adequate in terms
of quantity, quality and price?
Will new material be available to
the enterprise?
Will material supply continue to be
adequate?
Information
Is there enough information to
produce, sell and manage my
product?
Is information available in
enough time to implement
corrective actions?
Production Process
Will the product be manufactured
in bulk?
Is the labor intensive?
Will the process be executed as a
production chain or a continue
process in-house?
30
S.W.O.T. Analysis National Sandwich

Financial Aspects
Business Idea: National Sandwich
Strengths
(positive factors to
capitalize on)
Weaknesses
(negative factors to
eliminate)
Owner capital
Pro-forma Cash-flow Statement
Have I met investment
requirements?
Is the project profitable?
Risk
Physical Aspects
Capacity to manage technical aspects

of the business/product
Age/experience
Personnel management
Threats
(to avoid / to
consider)
Do consumers accept the product?

Is there a particular prejudice,
appreciation or aversion to the
product?
Information
Is there enough information to

produce, sell and manage my
product?
Is information available in enough
time to implement corrective
actions?
Profile of target market

Marketing strategy of your
competition
Characteristics of product(s)
Difference of quality
Supply & Demand (past, present,
future)
-I know most of the

potential clients
Weaknesses
(negative factors to
eliminate)
- I dont have a lot

of experience as an
entrepreneur
-I dont have a lot
of personal funds
-I have a good work

ethic
-I am friendly
Supply of Raw Materials
Strengths
(positive factors to
capitalize on)
Market
Social Environment
Opportunities
(to seize)
Business Idea: National Sandwich
- I have a specific
plan
Technical Capacity
Building
Workshop and machines
Site
Means of transport
Infrastructure and services
Are the sources adequate in terms

of quantity, quality and price?
Will new material be available to
the enterprise?
Will material supply continue to be
adequate?
Production Process
Will the product be manufactured

in bulk?
Is the labor intensive?
Will the process be executed as a
production chain or a continue
process in-house?
Opportunities
(to seize)
Threats
(to avoid / to
consider)
- There are not a

lot of options for
food in the market
-The population is
used to the existing
food options
-The quality of the

products and
services of my
competitors are
the same
-The population
does not
understand the
benefits of having
different options
-My friend has

experience with a
business
31
Business Idea Checklist

Business Idea:
Decision variables
Yes
No
Remarks
Have you decided which product or service to sell?

Based on your research, will this activity allow you
to make a profit?
If your research indicates a potential loss, is there
any way of making this business successful?
Have you identified your customers?
Do you know your competitors?
Have you established the price of your
product/service? Is it competitive?
Have you found a site for your business?
Have you decided the type of marketing to carry
out? Have you calculated the price?
Have you decided the legal basis for your
business? Do you have appropriate information
concerning the procedures to obtain a business
license?
Have you identified the skills you will need, their
availability and the costs?
Have you calculated the initial capital necessary?
Have you calculated a sales and cost estimate for
at least six months?
Total
32
Entrepreneurship Questionnaire
We are following an entrepreneurship training program for young people in Guinea, and we would appreciate your
assistance in answering a couple of questions.
1. How long have you been an entrepreneur?
2. Why did you get into business?
3. Was there someone or something that aided you along the way to becoming successful? What was it?
4. How did you decide to start your business?
5. How did you find the funds to start your business?
6. What factors are important for your success?
7. What challenges are you trying to cope with at the moment?
8. What are the biggest challenges you have had to meet as an entrepreneur?
9. What do you consider advantageous or non-advantageous as an entrepreneur?
10. What advice would you give to a young person who wants to become an entrepreneur?
11. Would you be available to be a guide for a young entrepreneur?
12. Do you have any other advice you might want to impart as an entrepreneur?
Thank you again for your time and your ideas!
33
Peace Corps Guinea

Lesson 7: Realities of Entrepreneurship
blackboard)
1. Feasibility study presentations and focus groups
on questionnaire findings.
2. Presentation of group findings.
Materials Required:
1.
2.
3.
4.
5.

Markers or chalk
Tables
Chairs
Masking tape
Objectives:
1. Demonstrate an understanding of the opportunities and challenges of local entrepreneurs in Guinea.
2. Practice teamwork.
3. Present information in front of an audience.
1. 2 blank flipcharts for questionnaire break out-groups.
2.
Time
50 mins
1. Feasibility study presentations and focus groups on questionnaire findings
Activity Details
Feasibility study presentations: (20 minutes)
Based on the S.W.O.T analysis and results of the business idea checklist from the feasibility study,
have participants briefly summarize their findings and decisions on whether or not to continue with
the identified business.
Trainer Note (a): Once the participants have all presented their findings and decisions, for those who
have decided not to pursue their business venture, be sure to state the importance of coming to that
conclusion that it is exactly the point of a feasibility study and that it should not deter them from
trying it again with another business idea. It is better to come to that conclusion before moving
forward.
Listing questionnaire findings:

Count off by numbers. Organize the activity so that participants form entirely new groups. Groups
should be three to four members each.
Divide groups according to their assigned numbers. Once settled, have the groups select a recorder
and presenter.
Trainer Note (b): The chosen individuals should not have been a recorder or presenter previously.
Have participants take out their Entrepreneurship Questionnaire homework.
Using two flip charts or a notebook, have each group combine their questionnaire answers into one
master list following the numbered questions. Each person in the group should contribute three
answers to each question. If group members have the same answers, put a checkmark by the
answer to indicate that it has been cited more than once. For example:
11. Would you be available to act as a guide for a young entrepreneur?
o
Responses:
Yes
No
Time
40 mins
2. Presentation of group findings
Activity Details
Group Presentations:
Invite the first group that is willing to present their list to approach the front of the class. Inform the
groups that the designated speaker should present the findings; however, if group members want to
add something, they are invited to, as long as they do not dominate the presentation.
Trainer Note (c): The trainer should take notes as each group presents its findings. Note down
34
common themes so they can be discussed at the end.
When they have finished, have groups post their flip charts on an open wall. Alternatively, if there
are no flip charts, have the groups turn in their presentations so the trainer can verify themes during
the presentation period.
Raise the following questions or comments to encourage discussion:
1.
As you look at all the different qualities raised by real entrepreneurs, how does that make you
feel about becoming an entrepreneur?
2.
What were some ways entrepreneurs found capital to start a business?
3.
How were entrepreneurs assisted on their way to creating their enterprise?
4.
What were some important factors that contributed to becoming a successful entrepreneur?
Trainer Note (d): Make a point that this training program will provide participants all the necessary
tools and information to effectively start and operate a small business in Guinea. However, it is up to
the individual to seize opportunities and pursue his or her dreams, just like the entrepreneurs you
encountered on the ground.
Homework (Write out on a flip chart or blackboard if not using Participant Manual)
Task(s):
1. Find three different ways businesses practice marketing in your community. List the type of business and
methods of marketing they use.
35
Peace Corps Guinea

Lesson 8: Marketing
blackboard)
1. Introduction to marketing.
2. The 5 Ps of marketing.
3. Case Studies using the 5 Ps.
Materials Required:
1.
2.
3.
4.
Flip charts or Blackboard

Markers or chalk
Chairs
Masking tape
Objectives:
1. Grasp the importance of marketing.
2. Define the 5 Ps of marketing.
3. Understand what to consider under each P.
4. Practically apply the 5 Ps to real business situations.
1. Create flipcharts that list the 5 Ps, their definitions and their corresponding questions.
2.
Time
30 mins
1. Introduction to marketing
Activity Details
Presenting homework:
Have participants form groups of three to four and designate a recorder and speaker. Once in their
groups, have them list all the marketing techniques they observed from their homework on a
flipchart. Come back together as a large group and call on participants to share their findings.
Introduction/Overview:
On a flipchart, present the following definition of marketing: Marketing is the practice of
understanding the wants and desires of your customers, to gain the attention of potential clients
and inform them of your product. Thus, the key aspect is to know more about the preferences,
aversions and expectations of your customers than your competitors.
Time
30 mins
On a flipchart or blackboard present the following phrase: The customer is always right! Ask what
that means to them? Bridge this phrase with the definition of marketing. Write down answers on a
flipchart or blackboard.
2. The 5 Ps of marketing
Activity Details
The 5 Ps:
Explain that in this lesson we will examine how to market a product by learning about the 5 Ps of
marketing. Ask participants if they have ever heard of the 5 Ps of marketing. If so, can anyone
name them? List the responses, if any. Explain that the 5 Ps of marketing are the following :
1. Product- Refers to the goods or services that respond to the needs of the client.
2. Price- Means to fix a price that your clients are ready to pay and to be sure that the price is
attractive, all toward the aim of earning a sufficient profit.
3. Promotion- Refers to informing the public of your enterprise and inciting those clients to
purchase your goods or services.
4. Place- Refers to the location where your enterprise is situated.
5. Personnel- Signifies how your employees represent the company and how they interact with
the clientele.
Explain that an entrepreneur who practices good marketing skills always aims to satisfy his/her
clients using a mixture of marketing approaches. In order to do so, one has to consider several
questions relative to each P.
Produce flipcharts that list the Ps, their definitions and their associated questions. Provide
examples of situations that apply to each question. When finished presenting each flipchart, post
the flip chart somewhere in the room so participants can refer to it during the case study exercise.
36
Product:
How can my product respond to the wants and desires of current or potential clients?
How can I improve my product?
Is my product adaptable to market demand? Can the product be improved?
Is my level of production sufficient to satisfy the level of demand of my clients? Do I avoid
production surpluses?
Price:
Are my clients able to pay for the product? (Consider the means of your clients and price
offered by the competition)
Can I attract more clients with special offers? (10th product free, price reduction during
certain periods of the year, etc.)
Promotion:
What means do I have at my disposal to inform the public of my product and its quality?
Are the means of communication convenient for my target clientele? (Consider the most
appropriate avenues for getting out your message)
o Place:
Is my product easily accessible to customers?
How might I be able to get nearer to my customers?
How might I be able to distribute the product more effectively?
Is my shop/workplace well lit, clean, well organized and attractive to the eye?
o
Time
60 mins
Personnel:
Does each employee adequately represent the enterprise and its image? For example:
Knows the product(s) and the price(s)
Responds well to the needs and questions of customers
Conducts him/herself professionally
Is well-dressed
Is effective at his/her work
Understands how to sell and communicate well.
3. Case Studies using the 5 Ps
Activity Details
Case Study Exercise (50 minutes)
One by one, present the following case studies to the group. Ask participants to come up with
creative solutions to these problems using the 5 Ps of marketing. Supplement participant
responses with the following examples.
Trainers Note (a): Remind participants that a successful entrepreneur uses all the different aspects
of marketing to improve his business, not just a few.
Case Studies:
1. You have never done marketing for your tourist site. Cite a couple effective ways you might be
able to inform the public of your enterprise.
Example: Promotion, approach the local radio station or the national tourist office. You
could also make flyers to hand out to potential customers.
2. The health inspector says you must close your restaurant because it is not clean. What could
you do to re-open the restaurant?
Example: Place, create an environment and system that show the health inspector how
you will maintain a clean restaurant. Promotion, repaint the restaurant and create signs
demonstrating the new clean start to clients.
3. Many of your clients ask you to open your business earlier in the morning. Others want you to
stay open later in the night. Knowing you cannot stay open more than the 10 hours you work
already, because of a lack of workers, what do you decide to do?
Example: Personnel, close during the slow part of the day but open earlier and later.
4. Your competitor lowers his price below yours. If you lower your price, you will not make any
profit. What will you do?
Example: Price, make special offers to attract more clients. Promotion, demonstrate how
your product is superior to your competitors.
37
5. You have a coffee bar; however, your regular clients become clients of your competition. How
will you regain them as your clients?
Example: Promotion, bring back your old clients by offering special deals during certain
times of the year. Product, ask your regular clients if there are any products that are not
available that they desire. Place, make your business more inviting by purchasing tables
and chairs, showing movies and selling food. Personnel, train your employees to better
respond to the needs of the customers.
6. You stocked a lot of a product that doesnt seem to please your clients and they dont buy the
product. What will you do?
Example: Promotion, inform clients of the benefits of the product. Offer a couple samples
for people to try. Place, present the product in a way that is more visible or looks nicer.
7. There is already a bakery that sells bread. You want to open a bakery that sells different baked
goods. How will you decide which baked goods to prepare and sell?
Example: Product, ask your competitors clients what other baked goods they would like to
purchase. Promotion, make a sign promoting your own baked goods.
8. A local merchant buys your vegetables and those of your neighbor to sell in another city. You
think the merchant does not pay enough for the product. What will you do?
Example: Product, ask your neighbor how much the vendor is paying for the same product.
Price, conduct research into the market price in the city where the vegetables are sold.
9. You make honey. You want local boutiques to sell your honey. What would you say to local
merchants to convince them to sell your honey?
Example: Price, offer boutique owners special deals for buying a certain quantity.
Promotion, create pamphlets and other marketing tools to explain how honey is obtained
and its benefits to the consumer. Product, present the product in a way that shows its
superior quality (in a clean bottle, free of insects, etc.)
10. You just opened a cyber caf and photocopying center. You set your prices higher than the
competition because you believe you have better computers than the rest. However, you find
that customers are not coming in to use your services. What could you do to attract
customers?
Example: Promotion, bring in customers by giving free internet services for a short period
of time and offer computer trainings. Price, justify the higher prices by demonstrating the
superior level of quality and service in comparison to your competitors.
Trainer Note (b): Use our National Sandwich example to have participants generate ideas on how to
implement the 5 Ps.
National Sandwich
Now that we understand our potential clients demands, our competitors, our value proposition, and the
price of our product, we will create a marketing plan for National Sandwich!
For each of the 5 Ps, ask participants find at least three ways National Sandwich can better market itself
to the community. Write their responses on a blank flipchart.
Task(s):
1. Speak with an entrepreneur about marketing. Ask him/her how s/he approaches marketing. Assess whether or
not the business adequately addresses the 5 Ps. Come to class with a description of the business and an
assessment. If the business is deficient in any one of the areas, provide a brief description of how the business
could improve its marketing practices.
38
Peace Corps Guinea

Lesson 9: Accounting
blackboard)
1. Explain the importance of accounting for
entrepreneurs.
2. Introduce and practice a daily cash journal.
3. Briefly analyze the operations of a small
enterprise using accounting as a tool.
Materials Required:
1.
2.
3.
4.
5.
6.
Student note books

Pencils
2 Flip charts or Blackboard
Markers or chalk
Tables
Chairs
Objectives:
1. Understand the importance of accounting.
2. Complete a daily cash journal.
1. Write out statements on flip charts.
2. Ensure each student has a notebook to create daily cash journals.
3. Use daily cash journal examples for reference.
Time
20 mins
1.
Introduction to accounting
Activity Details
Ask the participants the following question:
What type of problems will come if we dont have an accounting system for our business?
Write the answers on a flipchart or blackboard. Add the following elements if theyre not mentioned:
o Incapacity to buy new stock/ supplies
o Inability to plan and save for future projects
o Infrequent payments to workers or debtors
Why is accounting important?
Write out the following statements on a flipchart or blackboard. Have participants read them outloud:
Most small enterprises do not need a complex system of accounting; rather, all that is
necessary is an introduction to a basic set of procedures that serve to record financial
transactions.
Most entrepreneurs have problems tied to recording their daily transactions because they lack
simple ways to put accounting into practice. Thus, many entrepreneurs are incapable of
supplying information regarding their revenues and expenses, and they never know whether
their enterprise is actually profitable or not.
Write out the following information on a separate flipchart or blackboard. Have participants read it outloud:
Accounting consists of recording all financial transactions, notably:

o The entry of funds into your business
o The exit of funds from your business
The money that stays in your business is the difference between the two.
Accounting Documents
Receipts and other articles that record transactions are called accounting documents. They constitute proof
of transactions that have taken place within your business. Accounting documents that are well managed
and concise will aid you in finding and solving problems within the enterprise. Use them for:
Cash Control
Verifying the operations of your enterprise
Proving to other structures (e.g., banks) how well your business operates
Planning future projects
Reorienting the business to make improvements as necessary
39
Trainer Note (a): Use the National Sandwich example for the rest of the lesson to illustrate how to record
financial transactions in a daily cash journal.
National Sandwich
Weve completed the feasibility study and are confident that our business, National Sandwich, will be
feasible and profitable theres a demand that exists, we have a plan on how we will be different than our
competitors, we have our price, we have our marketing plan, and we found our start-up financing from our
contacts So, were almost ready to start! And when we start, we have to have an accounting system in
place to register all of our financial transactions.
Time
90 mins
2. How to create & calculate a daily cash journal
Activity Details
Formatting your cash journal:
Explain that for purposes of starting a small business, a simple cash journal is all that is necessary to
conduct accounting.
Here are the aspects concerning keeping a cash journal:

o Date note the date from each transaction
o Item Number number each transaction so you can easily reference it
o Description describe each transaction
o Income constitute all of the money made by the business, such as the turnover, loans, etc
Its the funds that enter the business
o Expense Everything that is paid by the business, such as worker salaries, rent, electricity or
water bills, primary materials, etc Its the funds that leave the business.
o Balance - the result of the difference between income and expenses. Its the money that
remains in your business.
Each page contains 32 lines, plus the page total, report of the preceding page and the cumulative
total.
Trainer Note (b): Show the group an example of a Daily Cash Journal provided in the training
manual on page 44. Have participants create their own daily cash journal based on the example if
they are not using the Participant Manual.
Trainer Note (c): We will now return to National Sandwich to account for our transactions during the month
of May.
National Sandwich
Filling in the cash journal for National Sandwich for the month of May:
Pass out the document titled, National Sandwich Income & Expenses if not using the Participant
Manual. Alternatively, you can write it on a flip chart or blackboard.
Have participants record the income and expenses for the month of May in their cash journals.
Participants can work in pairs if they would like, but each individual must complete their own
journal.
Make sure all participants have recorded the information correctly.
Trainer Note (d): Follow the example daily cash journal for May on page 45 to ensure students have
recorded information correctly.
Calculating Income/Expenses:
Once finished recording the information, have participants calculate daily balances.
The balance is the result of the difference between income and expenses.
Calculating Page Total, Report (Total of Preceding Page), and Cumulative Total:
Page Total: Add the column Income, add the column Expenses, subtract the page total of Income
from the page total of Expenses. The result is the Page Balance.
Trainer Note (e): We will return to National Sandwich to understand how accounting can help us learn
more about our business.
40
National Sandwich
When theyre done with the month of May and have discussed the results, explain that accounting tells a
story about a business. So, whats the story with National Sandwich? What do they see? Do they foresee
any problems? Will we be profitable? Their responses should include:
We are profitable! (the overall income is greater than our expenses, a profit of 640,000 GNF)
We see sales income, but its not too much more than our current purchase of raw materials,
therefore it doesnt change
Not bad for the first month! Lets continue!
Filling in your cash journal for the month of June:
Have participants record the income and expenses for the month of June in a new cash journal.
Note that if the participants want to add the balance of the previous month in the first line, they
can. It is simply important and necessary that they keep the balance from the previous month.
Make sure all participants have recorded the information correctly.
Trainer Note (f): Follow the example daily cash journal for June on page 45 to ensure students have
recorded information correctly.
Calculating Income/Expenses:
Once finished recording the information, have participants calculate daily balances.
The balance is the result of the difference between income and expenses.
Trainer Note (g): Follow the example daily cash journal for June on page 45 to ensure students
have calculated the balances correctly.
Calculating Page Total, Report (Total of Preceding Page), and Cumulative Total:
Page Total: Take the sum of the Income column et the sum of the Expenses column. Subtract the
Expenses Page Total from the Income Page Total. The result is the Total Page Balance.
Report (total of preceding page): Take the Cumulative Total from the preceding page.
Cumulative Total: Take the sum of the Page Total and Report (total of preceding page).
Trainer Note (h): Follow the example daily cash journal for June on page 45 to ensure students
have calculated the balances correctly.
Trainer Note (i): Looking at National Sandwich, we will see how accounting can even help us make smarter
business decisions!
National Sandwich
One more time, ask the participants to look at National Sandwichs story. What do they see? Are there any
problems? Are we profitable? Their answers should include:
We have a loss this month! The expenses are more than our income. Why?
o 600,000 GNF is larger than our expenses. 600,000 for employees? We can see that we
have 1,000,000 GNF of sales income, and taking into account our other continuing
expenses (rent, materials, bills) the salaries are a very large percentage of the transactions.
This is an example of how accounting can help us to make responsible decisions.
Currently, we can see that we dont have the money to spend 600,000 for the
employees. We should decrease that expenditure.
If we have two employees, maybe we should try to only use one. Not easy to do,
but these are the decisions that entrepreneurs have to make.
o Weve spent 300,000 GNF to buy a bike. That wont be a continuing expense. Its another
example of how accounting can help us to make responsible decisions. With accounting,
we can see that our sales income is relatively stable. But there are potential clients that
exist in the surrounding communities, so we made the expense to purchase a bike in order
to increase our sales income. Now we can bring our sandwiches there and increase our
clientele, and also be different than our competition.
Accounting is like that: we can see when our income is stable and understand that
maybe we can make a purchase in order to grow our operations buying more
equipment, hiring more employees, opening another restaurant, etc
Itll be a large cost at the moment, but with time our operation will be bigger with
more income!
41
Ask the following questions to help participants analyze how National Sandwich might improve its business
practices:
What expenses might the entrepreneur want to reconsider?
What do the figures imply about the operations of the business?
o Does the restaurant seem to run efficiently?
o Is it profitable?
What does this tell you about the significance of accounting?
Task(s):
1. Complete a daily cash journal for the month of July. Record income, expenses and daily balances. In addition,
calculate the page total, carry the report from the preceding month and calculate the cumulative total.
Dont forget to start the month of July with the balance from June!
42
National Sandwich Income & Expenses

National Sandwich recorded the following income and expenses during the months of May,
June, and July. Fill them into your Daily Cash Journal.
May 17
Start up funds 1,450,000 GNF
Start up supplies & equipment
purchased 1,000,000 GNF
Business license purchased
60,000 GNF
May 19
Sales income 300,000 GNF
Insurance payment 350,000
GNF
May 23
Raw materials purchase
300,000 GNF
May 25
May 28
300,000 GNF
June 1
Worker salaries 600,000 GNF
June 4
Water & electricity bill 200,000
GNF
June 9
June 15
300,000 GNF
June 21
Rent 100,000 GNF
June 23
June 26
Buy bike for 300,000 GNF
Start a new page for the beginning of each month

July 1
Sales income of 500,000 GNF
July 3
Worker salaries of 300,000
GNF
July 4
200,000 GNF
Electric bill at 80,000 GNF
July 10
July 15
Primary materials purchase
200,000 GNF
July 21
Rent paid 100,000
July 23
43
Example Daily Cash Journal

Daily Cash Journal:
Date
Item Number
Month:
Description
Income
Expenses
Balance
Page Total
Report (Total of Preceding Page)
Cumulative Total
44
National Sandwich Daily Cash Journal - May

Daily Cash Journal: National Sandwich
Month: May
Date
Item
Number
Description
5/17
Startup funds
5/17
Startup supplies & equipment purchased
5/17
Business license purchased
5/19
Sales income
5/19
Insurance payment
5/23
Sales income
5/23
Raw materials purchased
5/25
Sales income
400,000
640,000
5/28
Sales income
300,000
940,000
5/28
10
Income
Expenses
Balance
1,450,000
1,450,000
1,000,000
450,000
60,000
390,000
300,000
690,000
350,000
200,000
340,000
540,000
300,000
240,000
300,000
640,000
Continue with this balance for the next month
640,000
Page Total
2,650,000
2,010,000
640,000
Cumulative Total
2,650,000
2,010,000
640,000
National Sandwich Daily Cash Journal - June

Date
6/1
6/1
6/4
6/4
6/9
6/15
6/15
6/21
6/23
6/26
Item
Number
1
2
3
4
5
6
7
8
9
10
Description
Sales income
Workers salaries
Sales income
Water and electricity bill
Sales income
Sales income
Rent
Sales income
Bike Purchased
Month: June
Balance
740,000
600,000
140,000
100,000
240,000
200,000
40,000
300,000
340,000
200,000
540,000
300,000
240,000
100,000
140,000
500,000
640,000
300,000
340,000
Continue with this balance for the next month
340,000
Page Total
Cumulative Total
Income
100,000
1,200,000
2,650,000
3,850,000
Expenses
1,500,000
2,010,000
3,510,000
-300,000
640,000
340,000
45
National Sandwich Daily Cash Journal - July
Month: July
Date
7/1
7/3
7/4
7/4
7/4
7/10
7/15
7/21
7/23
7/26
Income
Item Number
1
2
3
4
5
6
7
8
9
10
Description
Sales income
Workers salaries
Sales income
Electricity bill
Sales income
Sales income
Rent
Sales income
Balance
500,000
840,000
300,000 540,000
200,000
740,000
200,000 540,000
80,000 460,000
100,000
560,000
200,000
760,000
200,000 560,000
100,000 460,000
300,000
760,000
Continue with this balance for the next month 760,000
Page Total
Cumulative Total
1,300,000
3,850,000
5,150,000
Expenses
880,000
3,510,000
4,390,000
420,000
340,000
760,000
46
Peace Corps Guinea

Lesson 10: Finding community resources
blackboard)
1. Introduction to finding community resources.
2. The Quota Exercise.
3. Micro-Finance Institutions overview.
4. The micro-finance environment in Guinea.
5. Options for MFIs.
Materials Required:
1.
2.
3.
4.
5.

Markers or chalk
Tables
Chairs
Masking tape
Objectives:
1. Identify personal and community resources.
2. Demonstrate understanding of the Micro-Finance Institution services available in your community.
1. Research MFIs and other formal financing options in the local community.
2. Review the results from Lesson 2: Assets and Deficits, and Defining Expectations and Lesson 7: Realities of
Entrepreneurship.
3. Prepare the necessary flipchart papers.
Time
35 mins
2. Introduction to finding community resources
Activity Details
Review Lesson 9 - Accounting homework: (15 minutes)
Go over National Sandwich Daily Cash Journal - July, presenting the answers and answering any
questions they may have.
Introduce finding community resources to the participants in the following way:
If or when you have chosen to move forward with your business, there is still the question of startup capital. While this may seem like a daunting task, there are many resources available in the
community that may not initially meet the eye. There are financial institutions that may be a perfect
fit for supporting your venture, people in your own life (who you may not even realize), and
personal assets that can serve as valuable resources.
Refer back to Lesson 1 - Welcome and Introduction What is Entrepreneurship? and ask the
following question:
o
Refer back to Lesson 2 Entrepreneurship Assets and Deficits and Defining Expectations, and ask
the following question:
o What were some of the local associations or groups that were cited as community assets?
Refer back to Lesson 7 - Realities of Entrepreneurship, and ask the following questions:
o
o
o
Time
30 mins
What were some characteristics necessary to be a successful entrepreneur?
How were entrepreneurs aided along the way?

How did they start their businesses?
How did they find the funds to start their businesses?
2. The Quota Exercise
Activity Details
Ask the group the following:
For young students or someone with limited work experience, it may be difficult to be approved for
a Micro-Finance loan. What do you think are some other ways to identify resources? Write them
on a flip chart or blackboard.
After all the responses are exhausted, if you are not using the Participant Manual, have the
participants take out a sheet of paper and make four columns with the headings: Family, Friends,
Colleagues and Potential Clients. Give them five minutes to write five people they know under
each heading with business experience (Explain colleagues as anyone you may have worked with in
the past, formally or informally; and potential clients as a person or organization who may benefit
from your product or service).
47
Trainer Note (a): The idea of setting a time limit and quota is to enable the participants to think
outside the box to obtain answers that they may not have initially put down be sure to express
the importance of the five minutes and five names.
Once the activity is complete, make the following presentation:

Look at your list of 20 people, each of which is a potential resource for you. For each person, do
you think they know at least three people who may be interested or are a good point of contact?
All of a sudden, your list becomes 60 people who may be able to offer support in numerous ways:
o Knowledge
o Technical expertise
o Experienced advice
o Labor
o Materials
o Workspace
o Additional contacts in the field
o Capital
o Time
Time
15 mins
Value proposition If you can demonstrate to these 60 people why your idea is worth investing in,
why it responds to a need, why it will succeed and why you are the right person, there will be many
interested individuals.
Remember, it is not necessary to initiate your business as a large operation. In fact, many
businesses fail due to the fact that they start out too large, too fast. It is more prudent (and
oftentimes more successful) to start small using available means and gradually build on experience,
resources, and knowledge.
Everyone has so many potential personal resources; all it takes is some digging to discover who
they are!
3. Micro-Finance Institutions
Activity Details
Introduction discussion (15 minutes):
What do you think of when you hear the term Micro-Finance Institution?
Why might someone apply for a loan?
What types of services do you think exist at a Micro-Finance Institution?
Who do you think are the most probable recipients of a loan?
After all answers have been exhausted, produce a flipchart with the following information:
1. A Micro-Finance Institution (MFI)s primary objective is Microcredit: the issuing of short-term, small
loans at low interest rates to people with limited means.
2. MFIs serve as an alternative to classic banks, which only issue larger loans with large interest rates.
In addition, MFIs typically offer different options for loan collateral.
3. In addition to issuing loans, MFIs also offer additional services:
o Savings
o Insurance
o Business skills trainings
o Money transfers
o Managing personal finances
o Planning for the future
4. Micro-Finance is not simply banking; it is a local development tool.
Time
10 mins
4. The Micro-Finance environment in Guinea
Activity Details
Present the following information on the current MFI environment in Guinea to encourage discussion:
The Micro-Finance sector in Guinea continues to grow. Institutions and clients alike are expanding,
resulting in an increased awareness of MFI services.
MFIs make a specific plan for each client that will make reimbursements as realistic and feasible as
possible. Even though the risk is managed, Micro-Credit is not for everyone. For some, the idea of
credit particularly interest rates, guarantees, and pre-determined reimbursement periods is
contrary to religious and social beliefs.
48
When pursuing a loan, consider the following questions :

o Do I have a past experience in the field in I am searching for credit?
o Do I have an income-generating activity currently functioning?
o Do I have a specific plan for how I am going to use the funds?
o Do I have material possessions I can use as collateral?
o Do I know someone who has a stable income that is willing to sign as my personal guarantee?
Time
30 mins
The above questions are important to be prepared before going to an MFI. If you answered no to
any of the above questions, it is possible that you will not be approved for a loan. However, MFIs
will be ready to discuss with you about what you can do to be a candidate for a loan. If you have
been doing the planning process of this course and show them that you have done the work and
that you are professional, you will be a target candidate!
5. Options for MFIs
Activity Details
Explain to the participants that the following example of the different types of loans CAFODEC provides will
give an idea of the types of loans MFIs provide. Present a flipchart with the following information:
CAFODEC Loans:
1. Agricultural Loans
Targeted clients: Farmers, gardeners, breeders, sellers at the market, fish farmers, etc.
Requirements: Be a farmer/breeder, justify an experience, and have access to a domain for a

farming/gardening activity.
Examples of objectives: Buy seeds, fertilizer, materials, and other equipment designated for
farming/gardening, etc.
2. Commerce Loans
Targeted clients: Businessmen/women, shop owners, restaurant owners, artisans, truck
drivers, etc.
Requirements: Justify an experience and a business that functions.
Examples of objectives: Replenish inventory, purchase equipment, pay customs, office

reparations, business adjustments, etc.
3. Functionary Loans
Targeted clients: Anyone who can justify a fixed, regular, and stable income.
Requirements: Be salaried and justify a work contract in progress.
Examples of objectives: Buy furniture or equipment designated for recreational uses: House
reparations, television, radio, telephone, vehicle, etc.
After any discussions or questions, present a flipchart with the following information on different options
for MFIs in Guinea.
Trainer Note (b): These are the four largest MFIs in Guinea, but depending on the size and location of your
community, there may be other MFIs available. Its important to research the formal financing options in
your community so that the participants will be able to apply that information to their entrepreneurship
ideas.
1. CAFODEC
Location: 227 branches. Associations des Services Financiers (ASF) in most prefectures
throughout Guinea.
Loan Amounts:
o Minimum: 50,000 GNF
o Maximum: 15,000,000 GNF
2. Crdit Rural de Guine (CRG)
Location: 120 agencies in all prefectures and most sous-prefectures throughout Guinea.
Loan Amounts:
49
3. PRIDE Finance
Location: 14 agencies. Covering all four geographic regions and eight administrative regions in
Guinea.
Loan Amounts:
4. Finadev
Location: Eight agencies located in Matoto, Belle Vue, Nongo, Sonfonia, Kindia, Dalaba, Pita
and Lab.
Loan Amounts:
There are many other MFIs in Guinea that you can contact for more information:
Les Caisses Populaires d'Epargne et de Crdit, L'Agence Autonome d'Assistance Intgre aux
Entreprises (3AE), MECREPAG, RCCECG, NAFAYA Crdit Solidaire, MIGUI, RAFOC, and COOPEC
NAFA.
Task(s):
1. Quota Exercise - Taking your list to the street:
Looking at your list of 20 people, choose one from each of the four categories, and ask each of them for
three people they know who may have an interest in your business idea. Once you have their names,
contact information, and why they may be interested, prepare a pitch to each of them with a personal
twist to each.
50
Peace Corps Guinea

Lesson 11: Business plans
blackboard)
1. Introduction to business plans.
2. Writing a business plan.
Materials Required:
1.
2.
3.
4.
Flipcharts or blackboard
Markers or chalk
Sample Cover Page
YETP Guide Book
Objectives:
1. Understand the uses and key parts of a business plan.
2. Bring together all of the research completed during the course to begin to write a business plan.
1. Prepared flipcharts
2. Printed copy of the Sample Cover Page
Time
15 mins
1. Introduction to business plans
Activity Details
Introduction to business plans
Pose the following questions to participants and take several responses for each. Note responses
on a flipchart
o What is a business plan?
o Who should use business plans?
Time
105 mins
Reveal the following statement: A business plan is a document that brings together all the
information you discovered during your feasibility study. Who should write a business plan? You
should! In writing a business plan, the entrepreneur often gains a clear understanding of what
they are trying to do and how they will accomplish both their financial and non-financial goals. It
can be used to present your business idea to investors, lenders, prospective employees and anyone
who wants a detailed view of your business.
Explain to participants that it should be typed and presented on crisp, clean paper. It should be
written in correct and formal French (or another world language). A professional business plan is
the first step to a positive image for your business.
2. Writing a business plan
Activity Details
Introduction to writing a business plan
There are 4 main parts to your business plan. They are the Introduction, the Plan, the Financials
and the Appendix.
o The Introduction includes the Cover Page, the Table of Contents, the Executive Summary, and
the General Company Biography.
o The Plan includes the following sections: Products or Services, Proposed Location, Marketing
Plan, Clients, Competition, and Niche.
o The Financials includes the following sections: Cost, Prices and Profits, Start-Up Expenses, and
Financial Plan.
o The Appendix includes supporting documentation and charts or graphs.
Trainer Note (a): Explain that you will go into detail for each individual part and ask if there are
general questions before starting.
Writing your Business Plan

Put the participants in pairs for the rest of this section. Pause for 5 to 15 minutes after explaining
each part and ask participants to work on that part of the business plan for their project ideas. Ask
partners to check each others work and offer suggestions.
51
1. Cover Page
o At the center of the page write Business Plan.
o In the middle of the page, write the name of the business.
o In the bottom right corner of the page write your contact information including your full name,
e-mail address, phone number, and mailing address. This is how funders and other partners
will contact you so make sure it is accurate and professional.
Pass around the Sample Cover Page to give participants a clear idea.
2. Table of Contents
o Write Table of Contents at the top of the page.
o List all of the sections of your business plan and the page number on which they start.
o Section titles should be justified left and page numbers should be justified right.
Ask participants to give examples of section titles for their business plan. Explain that each
section you are discussing in detail is a section title. They may have subheadings in each
section, but they will not be included in the table of contents.
Show participants the Table of Contents in your YETP Manual as an example of proper
formatting.
3. Executive Summary
o Write this section last! After completing your business plan, ask yourself, What is the most
important information in the document? Possible topics to include are: Product description,
target customers, value proposition, revenue plan, etc.
Executive Summaries should be no longer than a page.
o Ask participants why you should write an executive summary and why it needs to be brief.
After all answers have been exhausted, explain that funders see many proposals and may
decide if the entire document is worth reading based on what they read in the summary.
o
Trainer Note (b): Do not give participants time to work on this section. If there is time at the
end of the lesson they can start it, otherwise they can work on it at home.
4. General Company Biography

o This section provides information on your qualifications and the qualifications of your team. It
answers the question, Who are you?
o This section should include your education, work and entrepreneurial history, strengths, and
why you are uniquely suited to make this project succeed. If you are working with a partner or
partners, include this same information for each team member.
o If you have worked as a team before, discuss any projects that you have started together. If
they have succeeded, why did they succeed? If they have failed, why did they fail and how will
you prevent this new venture from failing?
5. Products or Services
o This section answers the question, What are you going to do? Describe in detail all of the
products and services you will sell. Be sure to note why it has value for the consumer.
o Include your findings from all steps of the feasibility study. Valuable information can be found
in Step 1 - Make a Business Choice and Step 3 - Define Business Operations and the Three Types
of Costs.
Ex: National Sandwich will provide a solution to the lack of nutritional options in
Dalaba. We will have a menu with various sandwiches that will not only give residents
of Dalaba an opportunity for variety in their diet, but also to improve their health by
offering hearty, healthy food options. In addition, National Sandwich will have a
comfortable and enjoyable restaurant atmosphere which is also lacking in the
community.
o
Trainer Note(c): The examples in the guide are shortened to give participants a general idea of
what each section contains. When writing an actual business plan, each section should be
longer and more detailed.
52
6. Proposed Location
o This section answers the question, Where will you work, and why?
Ex: National Sandwich will be in downtown Dalaba, right outside the main market in
the Pelley-reo neighborhood. This location will be easily accessible for lunch hour
workers and dinner goers alike.
7. Marketing Plan
o You have already developed your marketing plan during lesson 8 (Marketing). Simply write up
your plan for how customers will discover your product and how your product will reach your
customers.
8. Clients
o This section answers the question, Who will buy my product?
o If you have multiple customer types, be sure to discuss each one separately.
o Be as specific as possible when describing your clients. No company will have everyone as a
client, investors are going to want to see exactly who you project will be consuming your
product/service.
Ex: National Sandwichs target clients are two-fold: workers who eat lunch every day in
the market (mainly male, age 30-65); and adult residents of downtown Dalaba who
eat dinner in the market (mainly male, single or married, with or without kids, age 2055).
9. Competition
o After completing Feasibility Study Step 2, Conduct Market Research, you should have a good
idea of who your competitors are. Include the name, location, products / services, strengths,
weaknesses, opportunities, and threats of each of your competitors.
o Remember, not listing a competitor does not mean it does not exist. If a funder knows of a
competitor that you do not list in your business plan, they will think that you have not done
your research or are not honest. In the next section you will describe why your company is
stronger than your competition so do not worry about listing that here.
Ex: One of our competitors is Auntie Mariame who sells rice with soup sauce just
outside the market. Everyone knows and respects Mariame and her sauce is tasty and
inexpensive. Her weakness is that her meals do not have much nutritional value.
10. Niche
o This answers the question, Despite the competition, why will customers purchase your
product? If you do not know what differentiates your product, you should stop here and
rethink your idea before launching the business.
Ex: With a good marketing campaign, we will convince the people of Dalaba that a
nutritional meal has a lot of value because eating it will help you avoid many medical
problems. Even if our prices are a bit higher, they will see it as a savings. Our
competitors do not have someone who studied medicine on their team and therefore
will not have the same credibility if they choose to copy our strategy.
11. Cost, Prices and Profits
o Using your work from Feasibility Study Step 4, Calculate the Cost per Unit, Determine the
Selling Price and Estimate Sales Income, list your costs, your selling price and the profit per
unit. You can do this in table form.
o Ex:
Product
1 Syli Sandwich
Cost
Direct Costs = 4,139 GNF
Indirect Costs= 1,516 GNF
Total=
5,655 GNF
Price
8,000 GNF
Profit
2,345 GNF
Ex: You can include your tables from Feasibility Study Step 4, Calculate the Cost per Unit,
Determine the Selling Price and Estimate Sales Income, in your appendix.
53
12. Start Up Expenses

o Simply copy your start up costs table from Feasibility Study Step 3 Define Business Operations
and the Three Types of Costs.
13. Financial Plan
o This section can be as simple or as complex as you desire. The more money you need to start
and operate your business, the more information you should provide in this section.
o Break-Even Analysis: How many units will you have to sell to pay back your investors?
Ex: National Sandwich took out a loan of 1,450,000 GNF. It is necessary to reimburse
100,000 GNF plus an interest of 3% for a total of 143,500 GNF per month. We know
that we have a monthly profit of 2,345 GFN from each Syli Sandwich sold, so we have
to sell at least 62 sandwiches per month. Due to our estimation of sales revenue, it will
not be a problem to reimburse our investors in the allotted time 14 months.
o 12 Month Profit and Loss Projection: Project your sales for the next 12 months and
incorporating your start up costs, operating costs, and selling price, show how much profit or
loss you will have each month and cumulatively for the first year of operations.
o
Trainer Note (d): As discussed in Lesson 5: Calculate the Cost per Unit, Determine the Selling
Price and Estimate Sales Income, it is impossible to be completely accurate when projecting
sales for 12 months. Coach your students to do their best to get as close as possible and to be
realistic.
Ex: If there are 10,000 people in Dalaba it would be nearly impossible to sell 10,000
sandwiches a day. If you are targeting only men who make up 50% of the population,
you can sell 5,000 maximum and even that is not a realistic projection.
14. Appendix
o This is a section where you can include any additional information. For example, you can
include marketing materials that you have developed, market research surveys, technical
research reports, or graphs/charts that you want to include in your plan but that are too large
to integrate into the body of the report.
Homework (Write out on a flipchart or blackboard if not using Participant Manual)
Task(s):
1. Short-term Homework: Complete the Niche section of your business plan and bring it to the next class.
2. Long-term Homework: Finish writing your business plan. After proofreading it and giving it to a classmate to
proofread, type it. When you are ready to launch your business, begin visiting potential lenders, investors, and
partners and present them with your business plan.
54
Sample cover page
Business Plan
National Sandwich
07/01/13
Salimatou Tata Sylla

Sylla@yahoo.fr
+224 628 06 18 65
BP 16, Dalaba, Guinea
55
Peace Corps Guinea

Lesson 12: Action planning
blackboard)
1. Introduction to the action plan.
2. Writing goals and objectives.
3. Identifying tasks, assigning roles and making
timelines.
Materials Required:
1.
2.
3.
4.
5.

Markers or chalk
Tables
Chairs
Masking tape
Objectives:
1. Understand the five components of action planning.
2. Write goals and objectives that are S.M.A.R.T. (Specific, Measurable, Attainable, Realistic and Time-bound)
3. Identify and properly sequence tasks for each business start-up goal.
4. Assign appropriate roles for each task.
5. Make a timeline to complete the project.
1. Prepare flipcharts that define the five components of an action plan.
2. Orient yourself to the Example Action Planning Worksheet.
Time
20 mins
1.
Introduction to the action plan
Activity Details
Introduction & Components:
Open the lesson by explaining that once participants have completed the feasibility study and
identified resources necessary to get started, they are already well into the design of the business.
What is needed now is to put the business into motion. In order to do this, participants have to
prepare an action plan containing the details of how the business will start up.
Write out the following sentence and terms on a single flipchart. Have one of the participants read
it out loud:
An action plan includes the following five components:

o
o
o
o
o
Goal Statement
Objectives
Tasks
Roles and responsibilities for each task
A timeline for getting the business started
Define the following terms on a flipchart or blackboard, using the examples below to illustrate:
o
Goal Statement: States the vision and approach in terms of what is to be accomplished. These
are longer-term results of the business start-up process and include an overall time frame.
Example: National Sandwich will start business operations and produce 1,080
sandwiches within 12 months.
Objectives: Short-term results you need to meet in order to achieve the longer-term goal of
starting the business.
The objectives should be SMART: Specific, Measurable, Attainable, Realistic, and Time-bound;
When devising your objectives, answer these following questions:
Who is the target group or individuals expected to change?

What action or change is expected?
When will the desired action or change be accomplished?
How much change is expected?
Example: During June to August, 2013, National Sandwich will commence facility
construction in which building design, painting, cement and electrical installation will
take place.
56
Tasks: The concrete and very specific activities that must be completed to achieve each
objective.
Roles and Responsibilities: Which member of the team has the primary responsibility to finish
each task?
For example: Building design (Contractor), Painting (Alya Sylla), Cement (Mohamed
Bah), Electrical Installation (Contractor)
Timeline: When each task will start and finish (can be expressed in weeks or months).
Time
50 mins
Example: Under the objective of Facility Construction, several tasks need to be

executed. These include building design, painting, cement, and electrical installation.
For example: Building design (Contractor) will be accomplished in two weeks.
2.
Exercise - Writing goals and objectives
Activity Details
Goals and Objectives Exercise:
To help participants understand the difference between goals and objectives ask them to think of
several goals and objectives for their business start-up process. Call on participants to identify
these examples. Ask the class if the goals they have identified are truly goals, and if the objectives
they have identified are truly objectives. If not explain why, and how they can modify them.
Ask each participant to write a goal statement and one or two objectives for his/her business startup process in their notebooks if they are not using the Participant Manual. Allow about 20 to 30
minutes for this task. While the participants are working, move around the room to check their
work and make suggestions as appropriate.
Time
35 mins
Trainer Note (a): Some participants will have difficulty with goal and objective statements. Try to
help them draft a goal statement and at least one objective so they see the notion of hierarchy
between goals and objectives. At the same time, try not to overload them with so many elements
and guidelines that they become afraid to write. It may be helpful to post the example goal
statement/objectives on a wall that everyone can refer to while they reflect. Alternatively, if a
participant continues to struggle with a goal/objective related to the business, s/he could do a
personal goal/objective regarding his/her future.
Have participants exchange their worksheets with a partner. Ask them to read and review each
others work, discuss and clarify their logic, and share ideas and suggestions on improving the goals
and objectives with their partners.
Call the participants back together in the large group, and ask them to do a final check on the
plausibility of their goals and objectives (i.e., are they logical?). Explain this as follows:
To check the plausibility, start from the bottom of the hierarchy and work up. Look at your
objectives and ask: If we achieve these objectives, will we get the results we were hoping for in the
goal statements? Next focus on the goals and ask yourself: If we get these results, will we make
our dream/vision happen? If your answer is yes to both questions, you are on the right track. If
no, you may be missing or misplacing a piece.
Provide any further clarifications of goals and objectives as needed.
3. Action Planning Worksheet
Activity Details
Action Planning Worksheet
Begin the activity by explaining that once participants have outlined their goals and accompanying
objectives, we can now focus on tasks for each business objective, roles and responsibilities and
the timeline for completing the project.
Distribute copies of the blank Action Planning Worksheet and review it briefly with the group,
describing the overall process: identifying tasks, assigning roles, and making the timeline.
Have participants fill in the worksheet. Go around the room answering any questions that
participants might have. If certain participants finish before others, have them work on more goals
and objectives.
57
Trainer Note (b): Ask participants to consider which month in the calendar year would be the best
time to begin the project and to schedule specific tasks from that point through the end of the
project. Have them indicate the sequence and time estimates on a weekly or monthly calendar
template.
Time
15 mins
4. Summary discussion on the action plan
Activity Details
Discussion:
Have all participants reassemble and discuss the now-completed action plan for their businesses.
Build the discussion around the following questions:
o
o
o
o
What did you find most difficult about the action planning process? Goal, objectives, tasks,
assigning roles or the timeline?
What are examples of tasks you found easy to assign? Why? What tasks did you consider hard
to assign? Why?
How do you plan to encourage follow through on task delivery?
For your particular business, what might be two to three major scheduling considerations?
Homework (Write out on a flipchart or blackboard if not using Participant Manual)

Task(s):
1. Reflect on everything covered up to this point and come to the next class with any outstanding questions, as
well as the three most important things you learned.
58
Action Planning Worksheet for:
Goal:
Objective:
Tasks: What to do?

(list in sequence)
Roles: Who will do it?
Timeline: When will it start and finish?

(expressed in weeks)
10
11
12
59
Action Planning Worksheet for:

National Sandwich
Goal: National Sandwich will start business operations and produce 1,080 sandwiches within 12 months
Objective: During June to August 2013, National Sandwich will commence facility construction in which building design, painting, cement and electrical installation will take
place
Tasks: What to do?
Roles: Who will do it?
(list in sequence)
Building Design
Cement
Electrical Installation
Timeline: When will it start and finish?

(expressed in weeks)
10
11
12
Contractor
Mohamed Bah
Contractor
x
Painting
Alya Sylla
60
Peace Corps Guinea

Lesson 14: Distribution of certificates
blackboard)
1. Summary discussion on course.
2. Awarding of certificates.
Materials Required:
1.
2.
3.
4.
5.

Markers or chalk
Tables
Chairs
Masking tape
Objectives:
1. Provide feedback for the Youth Entrepreneurship Training Program.
2. Reflect on what was learned.
3. Start a business!
1. Make photocopies of course evaluation.
2. Print certificates.
Time
20 mins
1. Looking back on the YETP
Activity Details
Summarizing & processing the YETP: (20 minutes)
Open the activity by writing the following question on a flipchart, What did you enjoy about
YETP?
o Have participants share three aspects of the program they enjoyed.
o Write down answers on a flipchart and ask follow up questions where appropriate to stimulate
conversation.
Time
30 mins
Produce another flipchart that asks the following question, What can be improved about YETP?
o Have participants share three aspects of the program that can be improved?
conversation.
Produce another flipchart that asks the following question, What did you learn during the YETP?
o Have participants share what they learned.
conversation.
Trainer Note (a): Have participants complete the YETP evaluation.
After all evaluations have been turned in, thank the participants for their enthusiasm and hard
work. Explain that as a group, they embarked on a journey that took them through all the steps to
start their enterprise. They also encountered many of the challenges they would meet as an
entrepreneur starting a business. They examined difficult life situations and explored ways to avoid
making risky decisions. Taken all together, they have traversed the aspects of what it means to be a
young entrepreneur in Guinea, and succeeded!
2. Awarding of certificates
Activity Details
Have certificates ready to hand out. If necessary, use an assistant to call out names and hand the
trainer the certificates as the participants approach the front of the classroom. You may consider
implicating local authorities.
Congratulations! You have completed the YETP!
61
Evaluation
How did you find the YETP overall?
What were the most useful lessons for you? Why?
What are the lessons that need improvement and how?
Have your expectations been met? Yes or no, please explain.
What are your recommendations and suggestions for the improvement of future trainings?
62
Attendance
ListList
Attendance
Participant
Name
Lesson 1
Lesson 2
Lesson 3
Lesson 4
Lesson 5
Lesson 6
Lesson 7
Lesson 8
Lesson 9
Lesson 10
Lesson 11
Lesson 12
Lesson 13
Present Homework Present Homework Present Homework Present Homework Present Homework Present Homework Present Homework Present Homework Present Homework Present Homework Present Homework Present Homework Present Homework
Put an "X" under "Present" if the participant is present during class.

Put an "X" under "Homework" if the participant completed the homework.
63
CORPS DE LA PAIX
GUINEE
Certificat de Participation
Dcern :
Pour avoir assist la Formation sur lEntreprenariat Jeune, organise par

le Corps de la Paix en Guine,
du __ au __ (Mois) (Anne) (Lieu).
____________________________
____________________________
__________________________
64
APPENDIX
Peace Corps Guinea
Appendix i: Creativity
blackboard)
1. Introduction to creativity and differentiation.
2. Why creativity is important for entrepreneurship.
3. Conduct creativity exercises.
Materials Required:
1.
2.
3.
4.
Flipchart or Blackboard
Markers or chalk
Variety of objects
Music player and sound projector (optional)
Objectives:
1. Understand what it means to be a creative individual and the importance of being a creative entrepreneur.
2. Understand how creativity exercises can help a person to think in a creative and original fashion and how to apply
that to entrepreneurship.
3. Practice creativity exercises and realize that anyone can be a creative individual and think creatively.
1. Understand completely how to describe each creativity exercises value for entrepreneurship.
2. Choose a variety of different objects that are a good fit for Exercise #4 can be creatively adapted for different
uses.
3. (Optional): Choose a non-verbal song that can be adapted into a story and have a music player prearranged to play
the song on repeat.
Time
10 mins
1. Introduction to creativity and differentiation
Activity Details
Creativity and differentiation
Pose the following questions to participants to generate discussion:
o In your opinion, what is creativity?
o How is creativity linked to differentiation?
Time
20 mins
Once all responses are exhausted, reveal the following on a flipchart. Have a participant read the
statement out loud: The definition of creativity is the utilization of the imagination or original
ideas. One can differentiate themselves by using their own imagination and original ideas,
resulting in being truly unique.
2. The importance of creativity in entrepreneurship
Activity Details
Creativity exercises
Ask participants what they think the purpose of a creativity exercise is. Once all answers have been
exhausted, present the following statement on the blackboard or a flipchart. Have a participant
read the statement out loud:
o Creativity exercises are a way to get the mind thinking in a creative and original fashion.
Ask the participants the following: This is an entrepreneurship course, not a creativity course, so
why are creativity exercises implicated and why are they important to entrepreneurship? Once all
answers have been exhausted, produce the following statement. Have a participant read the
statement out loud:
o Creative individuals possess a large motivation to overcome obstacles and to solve
problems.
Ask the participants if they think this is important for entrepreneurship. The
participants should respond, Yes!
Explain that yes, having motivation to overcome obstacles and to solve problems in a creative way
is very important for entrepreneurship. Write on a flipchart or blackboard:
o If you are creative and think in a creative way as an entrepreneur, you can solve a problem
or seize an opportunity by:
65
Designing a new product.

Improving a process.
Being different giving a reason for a client to buy from you instead of your
competition.
Culture of Creativity
Ask participants for examples of creativity that they have observed in their own lives. Write the
responses on a flipchart or backboard.
Ask participants what they think are the different reasons creativity may be held back. Write the
responses on a flipchart or blackboard.
o Responses are not limited to, but may include:
Fear of not being accepted.
Not being confident that their idea will work.
Embarrassed to say something weird or stupid.
Once all responses to the previous question are exhausted, write on a flipchart or blackboard the
following:
o Creativity is not:
Being correct.
Being feasible.
o Creativity is:
Being completely original.
Being bizarre!
Explain to participants: When conducting creativity exercises or thinking of creative solutions in
general, do not be afraid to write down whatever ridiculous idea comes to mind! That is how you
can truly be unique, it is not writing down what is acceptable or the norm. It is after the creative
process that you will look at your ideas and think of how you can turn it into a feasible solution. It is
by being unique and weird that will make you truly different from your competition and make
customers want to buy from you rather than from others!
Time
60 mins
3. Creativity exercises
Activity Details
Conducting the exercises
Below are five creativity exercises to get your participants thinking in a creative and original
fashion. You will determine how to best conduct these exercises depending on your specific class
(number of participants, classroom size, what is available to you, etc.). If your class size permits it,
separate your students into different groups and have each group conduct a particular exercise.
Each group will present their findings when all are reassembled at the end of class, so each
participant will see the potential benefits of each exercise.
Once you have identified the groups, explain each exercise in front of all the participants before
separating (each participant will have an idea of what the other groups are conducting as well). It is
not until you have finished explaining all the exercises that the groups will begin conducting their
respective exercise.
Exercise #1: Change the Image of a Familiar Situation
Ask a participant to give you a repetitive activity that they often do (an activity such as walking to
school, preparing food, cleaning the house, doing laundry, watching television, going to the video
club, going to a marriage or a baptism, etc.). Ask for DETAILS when in the situation!
Once the participant has given details for their activity, explain that this exercise is to take that
normal situation and change each detail a different way to conduct the activity. It can be
completed in whatever bizarre way, but it has to be different.
Explain the following as an example:
o One activity that I do often is eating lunch and dinner at a restaurant. The details of
completing this activity I walk to the restaurant and when entering, I look around to see if
there is an open spot and take a seat. I then wait for an employee to come up to me and I
ask them what they have available to eat. Once I am informed, I will reflect, make my
decision, and order. After I order I will wait for my meal to be prepared and served. Once
served, I will sit and eat my meal, listening to the radio or watching television. After I eat, I
will ask the employee how much it costs, and pay. Once paid, I will take my leave.
66
Now, I will take this normal activity and change how to complete it changing each detail.
o This time around, instead of walking to the restaurant, I will have the restaurant come
and pick me up, wherever I am. When entering, instead of finding a seat and asking what
they have available, I will immediately walk back into the kitchen, bringing my own
ingredients and telling the cooks what they are going to prepare for me, and how I like it
cooked. Usually I pay the set price afterwards, but this time I have to negotiate the price
and pay before the preparation begins. Usually I sit and wait for my food, but this time
while I wait, I play checkers with an employee. This employee is really good at checkers and
if I win, I get a free cola, but of course I lose. When my food is brought out, instead of
sitting while eating, I go to the dance floor and dance while eating. I have already paid, so I
can stay and dance for as long as I want or leave whenever I want.
Explain to the participants I tried to be as creative as I could when changing this otherwise
normal task. It is not about feasibility or being correct, it is about being as different as possible. It is
now, afterwards, when I can look at my story and think if there are any feasible ideas. You know,
picking up the clients isnt such a crazy idea! Maybe that can be a way I will differentiate myself. If
my clients want to come to my restaurant, they can call me and I will have one of my employees go
and pick them up. Another reflection: Bringing in ingredients, why not!? That could be an option
to give my clients and another way to differentiate myself from competitors and have potential
clients choose me!
Have the groups conducting this exercise come up with as many different situations as they can in
the allotted time.
Exercise #2: My Frustrations!

For this exercise, explain to the participants that they will create a list of their own personal
frustrations.
Explain that the frustrations have to be very specific IN THEIR OWN LIVES! Frustrations such as the
political situation or overall security are not acceptable. The taste of toothpaste; that is an
acceptable frustration.
The group has a quota of creating a list of at least 30 frustrations.
Explain that once they have their list of 30 frustrations, they will raise their hands and you will give
them the next instructions.
Later, when a group raises their hands, give the following instructions:
o Of your list of 30 frustrations, come up with at least three creative solutions for the last
five frustrations on your list (25-30).
o NB: The idea of finding solutions for the last five is that these are the five that were not
immediately thought of, and may be the frustrations that are not immediately thought of
by most. These frustrations may have a real potential for finding a new, creative solution!
Exercise #3: An Ideal Day

Explain that each participant in the group conducting this exercise is going to detail their ideal day
to the others their dream day. EVERY detail from the moment they wake up until the moment
they go to sleep.
This is their dream, so they should do whatever in the world they want to do whatever, wherever,
and with whomever. It does not have to be feasible, just something they would love to do. If you
want to do Guinea, France, The United States, and Canada all in the same day, great! What are you
specifically going to do in each place?
Explain that while listening, the other members of the group have a role as well. During a
participants explanation of their ideal day, the others are going to write down at least one
entrepreneurial opportunity in their story.
o Ex: If at one point during a participants explanation of their ideal day they want to go
hiking on the cliffs by the beach because only they know the specific paths, an
entrepreneurial opportunity could be being a tour guide to help tourists discover these
uncharted areas. You have to be creative as a listener as well!
This is an excellent exercise to discover how you can creativity turn a passion into a job that you
love.
67
Exercise #4: Unknown Objects

For this exercise, you have to bring in a variety of different objects (these objects can be anything
a cup, a football, a container, a bowl, a string, etc.).
Ask participants if they have seen any examples of an object intended for one purpose being used
for another purpose.
o Ex. Tires used for soles of shoes, a game for children, etc.
Physically give each group conducting this exercise a few objects you have brought in. Explain that
they have to mentally erase all that is previously known about that object. You have to look at this
unknown object and think of at least three completely different uses for it.
o For example, when looking at a football, a veterinarian can use it to revive a sick animal
with regulated oxygen instead of using mouth-to-mouth.
When their group has identified at least three new uses for each object, they are going to vote and
choose their single best idea (only one idea for one object).
This exercise allows participants to see how to creatively change a previously instituted perception.
They can take a problem or a situation and think of solutions from a completely different,
unknown, and unique position.
Exercise #5 (Optional): Musics Story

Trainer Note (a): This exercise works best if you:
1. Have enough participants to have at least three different groups conducting this same exercise.
2. Have a separate, isolated room where the groups can conduct the exercise.
3. Have a co-facilitator: one person can facilitate this group while the other person facilitates with the
other groups.
Time
30 mins
For this exercise, you will need to bring in a music playing device (something to amplify the sound
will help). Also in preparation, you will need to choose a song without words, classical music is
preferable.
Explain to the participants that you are going to play a song on repeat and they have to create the
songs story what is happening during this song, why is it fast at some points, and slow at others?
Is it about a specific person or situation? Your task is to communicate the story through actions.
You do not have any other means of communication available, you must communicate to others
outside your group everything you want to say through only the actions you do.
Explain that the song will be on repeat, and they can listen to it a couple times and discuss amongst
their group the story the song is portraying. Once you have the story, you can practice how you will
communicate that story with a sketch.
Once all the groups have practiced, they will take turns presenting their sketch with the song, and
the other groups will have to guess the story they are trying to portray. Once all the groups have
presented their sketch, all will vote for the best.
This exercise allows participants to creatively communicate a message with limited means
available. In addition, they will be able to see how they can creatively interpret a problem or
situation personally and find a creative solution as a result.
4. End Discussion
Activity Details
Bring all the participants back together. Once all the groups are reassembled, choose one representative
from each exercise to present a summary of their groups work.
Exercise #1: Have the representative give one normal situation they changed and an opportunity
for a creative entrepreneurial difference that came from it.
Exercise #2: Have the representative explain how they had to come up with creative solutions to
their last five frustrations, why for only the last five, and any creative solutions they came up with.
Exercise #3: Have the representative explain a really creative day someone presented and at least
one entrepreneurial idea that resulted from it.
Exercise #4: Have the representative present their best object idea and explain how this exercise
can help them in an entrepreneurial situation.
Exercise #5 (optional): Have the winning group present their sketch in front of all the participants
who will guess the story they are trying to portray. Have them explain how this exercise can help in
an entrepreneurial situation.
68
After a representative from each exercise has presented their results, pose the following questions for final
discussion:
1. How do you feel after conducting the creativity exercises?
2. How can these activities, and being a creative individual, help as an entrepreneur?
3. How can being a creative individual help you in your life in general?
Homework (Write out on a flipchart or blackboard)
Task(s):
Your Enterprise = A Creative Enterprise
By conducting your favorite, a few, or all of the creativity exercises, apply creativity to your business idea. Come
up with at least three ways that your business is going to be creative, unique, and different.
69
Peace Corps Guinea

Appendix ii: Stock management
blackboard)
1. Introduce stock management.
2. Introduce and analyze the daily sales record, stock
notebook, and inventory.
3. Work in class.
Materials Required:
1.
2.
3.
4.
5.
Flip chart or blackboard

Markers or chalk
Tables
Chairs
Masking Tape
Objectives:
1. Keep a daily sales record and stock notebook.
2. Do an inventory.
3. Order the correct amount of product.
4. Critically analyze sales and future business actions.
1. Prepare flipcharts
2. Be familiar with the contents of figures 1-6.
3. Photocopy figures 1-6 for participants or use participant manual
Time
15 mins
1. Introduction to Stock management
Activity Details
Stock Management
Explain to participants that today you will be talking about stock management. Explain that stock
management is especially useful to businesses that sell a wide variety or quality of items such as a
general store. In order to present the material more clearly, you will imagine that National
Sandwich would like to start a general store next to the restaurant called National Boutique. This is
a typical general store that sells items such as powdered milk, biscuits, margarine and mayonnaise.
The material today will focus on setting up a stock management system for this general store.
Trainer Note (a): Stock management is important to a business such as National Sandwich; we will
use National Boutique in order to give a clear and simple example. Once the students understand
the basics of stock management, they will be able to easily adapt the concepts to National
Sandwich or to their own business ideas.
Present the following definition either written on a flipchart or the blackboard. Stock Management
is the system by which the business owner keeps track of the reception and sale of items, thereby
allowing him/her to order the correct amount of items, discover lost stock, and plan for the future
growth of the business. It encompasses the daily tracking of stocks, keeping a long term record of
stock, and doing periodic inventories.
Inform the students that you will present to them a system of keeping track of daily sales as well as
a how to keep a record of stock. Give them a general description of these two methods.
Ask participants why a stock management system is important to a successful business. Complete
answers with the following: It allows the business owner
o to see which items are selling well and not well
o to always have enough stock on hand, as well as not too much
o to keep track of lost stock
o to track patterns in sales
o to plan for future growth
70
Time
35 mins
2. Tracking stock throughout the day
Activity Details
System of tracking stock throughout the day
Present Figure 1: Daily Sales Record written on a flipchart or the blackboard. Guide participants
through the different parts of the table. Explain that it is an easy way to track sales throughout the
day. When an entrepreneur makes a sale, he/she should make a tick mark for each item sold. To
avoid forgetting sales, the entrepreneur should record the sale without allowing too much time to
pass.
Trainer Note (b): Do not forget to note that similar items of different sizes (i.e. Margarine 500 mg
and Margarine 750 mg) should be recorded separately.
Present Figure 2: Stock Notebook written on the same flipchart or blackboard. Explain the
different parts. Remember that
o The entrepreneur should total his sales of each item from the daily sales record at the end of
the day. He should transfer this total to the Out portion of the chart.
o The unit cost is the cost of one unit. For example, if a box that contains 10 Nescafe cans costs
20,000 GNF, the unit cost of one can is 2,000 GNF.
o In order to decide upon an order level, the business owner must take into account how much
of an item he/she can sell in the time that it will take the supplier to deliver, leaving enough
extra stock in case the supplier is late or for a particularly high sales day.
o Broken items must be included in the Out part of the records because they create a change
in stock.
Take any questions that participants have on how to fill out the two forms.
Time
25 mins
Ask participants potential benefits of using a tracking system for stock. Record participant
responses on a flipchart or blackboard titled Benefits of Managing Stock. To their responses, add
that
o The daily sales record and the stock notebook allow the business owner to always know how
much stock he/she has on hand which will avoid ruptures in stock. Clients will go to other
stores and possibly not return if a store is out of stock.
o It allows the business owner to see sales patterns, so that he/she does not order too much of
an item. When money is tied up in stock that is not selling, this is less money that the business
has to pay for operating costs or to buy other items that sell faster. In stocking a business, one
wants the minimum amount of stock as to not run out, but to also not tie up funds that could
be used for other things.
o With this system the business owner can also analyze the strengths and weaknesses of the
business. This allows him/her to decide which items to discontinue, to keep, and new items to
add to the store.
3. Inventory
Activity Details
Inventory
Explain to participants that in addition to keeping track of stock on a daily basis, one can also do an
inventory from time to time. Ask participants what doing an inventory means to them. Present the
following definition, either written on the blackboard or flipchart paper. Inventory is the system of
counting the number of items in stock, as well as checking their condition.
Present the inventory sheet from Figure 3, written on a flipchart or blackboard. Explain the
different parts of the sheet.
Trainer Note (c): The stock book should be up to date to the day that the inventory is done to make
sure that there are not any undo discrepancies between the two. Additionally, the inventory should
be done outside of normal shop hours. It is important that the quantity of stock is not changing
while the inventory is being done so no customers should be present, but if the shop is closed
during working hours, the owner will lose valuable profit and customers will lose faith in the
reliability of the business.
71
Write on the black board or flipchart paper Why is doing an inventory important? Have a
volunteer write participants answers on the black board or flipchart paper for you. Complete their
responses with the following. It helps the business owner know
o that the daily tracking of stock is correct
o if there have been thefts. (This is especially important for businesses that sell high value items.
Also, if a business is being run by someone other than the owner, it can help verify that the
business is being run correctly)
o if items are broken or have gone bad
o which items sell the fastest and slowest
Explain that the business owner can use the inventory and the stock book to find strengths and
weakness of the business. For example:
o If there a many broken items, the business owner should store his items differently.
o If items continually go missing, there could be a problem with theft or maybe the stock book is
not being kept correctly.
o If some items sell too slowly, maybe they could be better presented or are too expensive. If
changes do not help maybe the item should be discontinued to free up capital to buy other
products.
o If a certain item is very popular, the business owner needs to pay special attention that it is
always stocked.
Time
40 mins
Present several of the above examples. Ask participants to cite others. Record their responses on a
flipchart or blackboard.
4. In-class work
Activity Details
Daily sales record, stock notebook and inventory practice.
Have participants complete figures 4-6 alone or with a partner.
Come back together as a large group. Draw figures 4-6 on a flipchart of blackboard. With
participant help, fill in the blanks, explaining the steps as you go along.
Go over any questions that participants have on the process.

Homework (Write out on a flip chart or blackboard)
Trainer Note (d): Be sure to go over this homework at the beginning of the next class.
Tasks:
1. Create a page for a daily sales record and two pages of a stock book for a potential business idea. Bring these
to the next class.
2. Write out and come to class with five ideas of how an entrepreneur can use the stock book to plan for the
future and/or analyze the strengths and weaknesses of his/her business.
72
Figure 1:
Daily Sales Record

Product
Can Nescafe (50 g)
Bama Mayonnaise 16
fl oz
Margarine (750 mg)
Margarine (500 mg)
04/02/13
III
III
05/02/13
IIII
II
06/02/13
II
II
07/02/13
III
III
08/02/13
IIII
I
IIII I
IIII IIII II
IIII
IIII II
IIII II
IIII IIII
IIII II
IIII IIII II
IIII III
III
Figure 2:
Stock Notebook
Record of Stock
Record of Stock
Product: Nescafe (50 g)

Unit Cost: 7,000 GNF
Selling Price: 10,000 GNF
Order Level: 15
Date
Description
03/02/13
04/02/13
05/02/13
06/02/13
07/02/13
08/02/13
08/02/13
Report
Sold
Sold
Sold
Sold
Purchased
Sold
Product : Bama Mayonnaise (16 fl. Oz)

Selling Price : 18,000 GNF
Order Level : 10
In
25
Stock
Out Total
26
3
23
4
19
2
17
3
14
39
4
35
Date
Description
03/02/13
04/02/13
05/02/13
08/02/13
06/02/13
07/02/13
08/02/13
Report
Sold
Sold
Broken
Sold
Sold
Sold
In
Stock
Out
Total
25
3
22
2
20
2
18
2
16
3
13
1
12
Figure 3:
Inventory Sheet
Inventory Sheet
Page: 1
Date: 08/02/13
Description
Inventory
Nescafe (50 g)
Bama Mayonnaise (16 fl. oz)
31
12
Quantity
Stock
book
35
12
Commentary
Difference
-4
0
4 bottles are missing, why?

Quantity correct
73
Figure 4:
Daily Sales Record

Product
Can Nescafe (50 g)
Bama Mayonnaise
16 fl oz
Margarine (750 mg)
Margarine (500 mg)
11/03/13
IIII I
IIII
12/03/13
IIII
IIII I
13/03/13
IIII
III
14/03/13
III
III
15/03/13
IIII
II
II
IIII
I
II
II
IIII
III
II
IIII
I
Figure 5:
Stock Notebook
Record of Stock
Record of Stock
Product: Margarine (750 mg)

Selling Price: 18,000 GNF
Order Level: 10
Date
Description
In
10/03/13
11/03/13
12/03/13
13/03/13
14/03/13 Purchased
14/03/13
15/03/13
Product : Margarine (500 mg)

Selling Price : 12,000 GNF
Order Level : 15
Stock
Out Total
14
20
Date
Description
In
10/03/13
11/03/13
12/03/13
13/03/13 Purchased
13/03/13
14/03/13
14/03/13 Broken
15/03/13
Stock
Out
Total
21
25
Figure 6:
Inventory Sheet
Inventory Sheet
Page: 1
Date:
15/03/13
Description
Inventory
Margarine (750 mg)

Margarine (500 mg)
Quantity
Stock
book
Commentary
Difference
22
29
74

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Table of Contents

Ministre du Plan, Plan Quinquennal de Dveloppement Socio-conomique (2011-2015), December 2011.

Lesson 8 introduces basic marketing practices.

Lesson 11 teaches how to assemble the essential parts of a business plan

Implementing the YETP

Lesson 13: Action Planning

Peace Corps Guinea

Large open wall

Be associated with other individuals

Read the following statement aloud to summarize:

Peace Corps Guinea

Activity Number/ Title

Have the groups report out their assets maps:

Raise the following questions or comments to encourage discussion:

Defining Expectations: (15 minutes)

Peace Corps Guinea

Flip chart or Blackboard

Choosing a business activity: (10 minutes)

Psychological aptitude: Am I determined to progress, take risks, remain motivated, make

Brief Introduction: (5 minutes)

Peace Corps Guinea

Flip chart or Blackboard

What type of facility is necessary to house your business?

What materials do you need to produce your product/service?

Does the product require packaging? What kind?

What type of facility is necessary to house your business?

What materials do you need to produce your product/service?

Does the product require packaging? What kind?

Anything else? What about our professional atmosphere?

Peace Corps Guinea

Flip chart or Blackboard

Indirect Costs per Unit

Total Cost per Unit

When considering your competition:

Product Cost Table

How much (quantity)

Total Direct Costs

Total Direct Costs

2. Indirect Costs per Unit

Calculate the total indirect costs per month.

Cost per Month

Total Indirect Costs per Month

Hours open per month

~ days per month

Hours open per month x

sold per hour

sold per month

Indirect costs per unit

Estimation of units sold per month

Total Cost per Unit

Direct Costs per Unit

Indirect Costs per Unit

Total Cost per Unit

Product Cost Table National Sandwich

Quantity: __10 Sandwiches_________

How much (Quantity)

Maggi (coming from

Total Direct Costs

Total Direct Costs

2. Indirect Costs per Sandwich

Calculate the total indirect costs per month.

Indirect Costs per month

Cost per month

Quantity: 10 Sandwiches_______