The focus of this article is how you can benefit from free BDSP programs in Nigeria. At the moment, there are lots of programs that aim at helping business owners improve their businesses. Some of these programs are sponsored by some states and the federal government. While international donor organizations sponsor other programs.
. One thing all these programs have in common is that they provide Business Development Services (BDS) to their beneficiaries.
In the case of existing businesses, the BDSP is supposed to find out what is stopping the business from growing. Then, assist the business owner in solving the problem.
If it is a start-up business, the BDSP can help the owner identify the right business idea and solve other issues related to starting a profitable business.
As a BDSP, I have been privileged to work on some international donor-funded programs. I have seen businesses on the verge of closing down rebound during these programs. These businesses created jobs, increased revenue, and became profitable after the BDSPs intervention.
While some participants benefit from these programs, others do not benefit. It is really sad to see people miss out on the opportunity to work with highly qualified BDSPs. This is because the participating BDSPs were carefully selected by donor organizations.
When some beneficiaries see that there is no money, they refuse to be actively involved. They do not understand that the benefits of working with a BDSP far outweigh getting money.
So, if you are privileged to participate in any international donor-funded program or government program, here are three simple things you should do to get all the benefits.
Table of contents
- Give your BDSP correct information about your business.
- Be actively involved in preparing the work plan for your business.
- You should implement the action plan for your business.
Give your BDSP correct information about your business.
Firstly, you have to give your BDSP the correct information about your business. You do not lie to your doctor, do you? (Hopefully not). That is the same way you should not hide information from your BDSP.
Your BDSP needs all the information about your business to find out what is stopping your business from growing. I am usually amazed when business owners hide things. When this happens, I typically find out the company’s actual situation. Then, I have to start the diagnosis process for the business all over again.
If you give your BDSP the correct information, they can design the right work plan for your business.
Be actively involved in preparing the work plan for your business.
Secondly, you should agree on the plan of action with your BDSP. The work plan is the activity/activities you will undertake to solve the challenges faced by your business. Your BDSP can not design the work plan on their own. Therefore, it is good practice for you to be involved in preparing your work plan.
You should note that your BDSP will not implement the plan directly. Instead, you will be the one to implement the plan with the support of the BDSP.
The BDSP may make calls on your behalf or do some research for you, but you have to do most of the work. For example, you have to set up social media accounts for your business yourself.
Please cooperate with your BDSP if you are serious about improving your business.
Your BDSP is not a magician.
You should implement the action plan.
Thirdly, you must implement the recommendations given to you by your BDSP. For example, when you see a doctor, you have to take all the drugs recommended by the doctor and follow your doctor’s instructions if you want to get better.
If you want your business to improve, you should also give your BDSP regular feedback on the work plan. The feedback will help the BDSP fine-tune the work plan to achieve greater success in your business.
Recommended Reading: How to use the services of a BDSP to grow your business.
Finally.
It is a privilege for you to be selected to participate in a government or international donor-funded project. Therefore, you should make the most of your time on the project. If you were to contract the BDSPs on these programs directly, you would have to spend a lot of money.
Most people apply for government or donor sponsored programs because they think they can get grants or single digit loans.
However, money is not the first thing you need in your business. The suggestions made by your BDSP are crucial to improving your business.
I tell my clients on sponsored programs that one of my assignments is to close any gap. in their businesses. Then, the business can use grants or loans it gets effectively.
One last word, remember to cooperate with your BDSP. Your BDSP is there to make your business grow.
If you are interested in getting more tips on how to start and grow your business, join us in our Facebook community https://web.facebook.com/groups/smartretirementbiz I look forward to answering your questions there.
