P R O J E C T P U R P O S E & S C O P E O F W O R K
Focus on key themes
Against the backdrop of the general trends outlined earlier, we chose to focus on three key themes that relate to common trends running through many of the insights from the data analysis and focus groups carried out. The common trends focus on the needs of business skills development; the mentorship and coaching needs; and the role finance plays in the growth and prospects of ESOs and entrepreneurs. The first theme reflects the needs for practical business skills training. Incorporating skills training into offerings for ESOs and entrepreneurs is a choice that must become embedded into how AfriLabs think about its support to the African ecosystem. Similarly, ESOs and entrepreneurs may require internal alignment to adopt a posture of openness to the training supports, including a readiness to provide honest and ongoing feedback. For ESOs and entrepreneurs, this is an inwards focus on strengthening the core of their venture. The second theme is the mirror image of the first. After expressing an inward need in building business capacity, it is essential for ESOs and entrepreneurs to look outwards to understand the markets in which they operate. As expressed by ESOs and entrepreneurs, this understanding can be best obtained through coaching, mentorship and networking. The third theme centers on sustainability. Without a sustainable business model, a business is always at high risk of failing. As much as business development training, coaching, mentorship and networking are needed, they should be supple- mented by sustainable business practices support to increase the chances for entrepreneurs and ESOs to sustain and grow their business. In general, ESOs, entrepreneurs and investors needs are expressed in a way that can be summarized within the framework of inward and outward work. Inward work focuses the core business skills needed to sustain and grow a business. Outward work is linked to the climate in which they operate and the resources that can contribute to their growth such as mentorship, coaching, networking and finances. These three themes come in form of two types of support, namely inward support and outward support.
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N E E D S A S S E S S M E N T R E P O R T
Trends and insights from ESOs, entrepreneurs, and investors
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