You have an incredible business. You know it. Your family and friends know it. Yes, you deserve to make it to the shortlist of the GoGettaz Agripreneur Prize Competition! BUT… There is one thing standing in your way… the GoGettaz application form.
This important document is not just your entry-ticket into the competition. It is the first chance you have to impress the application evaluators, and the best chance you have of convincing the judges that you are worth the investment.
When you hit that “SUBMIT” button on your application, you must be 100% sure that it will make a good impression. Let’s look at a few tips and tricks that you need to keep in mind when you complete your application form for the GoGettaz Agripreneur Prize Competition.
If you have already started your application, and you are procrastinating because it seems a bit intense, ask yourself, “What would I want to know before I will feel confident about investing US$50,000 into a business?” Do you feel ready to impress? Then use these Tips and Tricks to make an impact.
Don’t miss the deadline
It might seem obvious, but every year we get hundreds of queries from GoGettaz who missed the deadline. You can save your application and return to complete it later, but remember, at midnight Central African Time on 6 June 2022, the application window closes. That means applications close at 11pm in West Africa and at 10pm in Western Sahara. Don’t let the clock catch you.
You will do better work if you are not in a rush. Set aside some time to finish, polish, and submit your application long before the deadline. It is worth the effort.
Be as clear as you can!
This is good advice for your GoGettaz application AND for every other business interaction you will have in your entire life. Investors, financiers, and potential partners all want to know the same things: “What do you do?”
When you get your message across clearly and quickly, it makes all your business relationships easier. If you can’t explain what you do clearly, it may look like you don’t really know your business.
Don’t know where to start? Use the Business Model Canvas to design your story. It will help you understand your business model and it is a great tool to tell your story effectively and compellingly.
Collaborate to stand out.
The GoGettaz application form is a chance for you to stand out from the crowd. But it can be intimidating. The good news is you don’t have to complete it on your own. Business greatness is achieved when people collaborate, and the same is true for the GoGettaz application.
Ask your co-founders and business partners to help you complete the perfect application. They will bring their expert knowledge to the table and together you can find the most effective way to communicate what you do.
Even if you are a solo entrepreneur who is just starting out, it is a good idea to ask your friends or family to read your application before you submit. A second pair of eyes is invaluable for spotting small mistakes, and an honest second opinion will tell when your answers are difficult to understand.
Keep the criteria in mind
Just like a school project, your application will be evaluated. Each of the five evaluation criteria count 20% for a total of 100%. Your job is to ensure that it is easy for the evaluators to understand how your business addresses each of the criteria.
- Innovation (20%)
- Market potential and traction (20%)
- Social and Environmental Impact (20%)
- Business model (20%)
- Founder and team (20%)
GoGettaz is looking for innovative businesses. Are you challenging the status quo? What are you doing that is different from how things have been done in the past?
Innovation is vital to food systems change. It has become abundantly clear that the way the world has been producing food has damaged the planet in a very big way. We need sustainable African solutions that leap-frog those legacy problems to build a smarter future.
Make it easy for our evaluators to label you as an innovator.
Market potential and traction
Numbers are important here.
What are your projections of market size and what share of the market will you be able to capture? How do you get to those numbers? They don’t have to be 100% accurate but be realistic. Yes, agrifood in Africa is a trillion-dollar opportunity… and everyone is going to get really worried if you say it’s ALL going to be yours in five years.
We know researching markets in Africa can be difficult. Our evaluators aren’t looking for exact numbers. They are looking for the thinking processes behind the numbers.
Do you have a handful of actual customers? Great! Even if you only have a small number of customers now, it can indicate your potential to grow. Mention how you plan to scale up.
Are you brand new and don’t generate revenue yet? Then write down how you will generate revenue in the future. Do you have discounts or introductory services you are using to test the market? Tell us about it.
Social and environmental impact
Social impact has to do with people and your community. How many jobs are you creating by directly employing people? How many jobs are you sustaining indirectly by sourcing from local farmers and suppliers, by supporting other providers, or in your distribution network of informal traders and retailers? Are your products tackling big issues like alleviating poverty and malnutrition in your community?
Environmental impact is a big concern in the agrifood industry. What makes your business model more sustainable that your competitors? Is your business contributing to a healthier natural environment? Are you building or using climate-smart technologies or renewable energy?
If you are making a positive impact, our evaluators want to know about it.
The Business Model Canvas and the Business Model Navigator. Use it. You can thank us in your award speech.
As with your market potential and traction, our evaluators want to see that you did your research and that you understand the business you are in. They want to see that you understand your industry segment, the people you are serving, and the competitors you are facing. How are you different from your competitors, and what motivates your business model choices?
Founder and team
One thing that the pandemic taught us is that businesses must pivot to survive. As market demands shift successful businesses change to stay relevant. That is why the people working in the business is so important.
Your GoGettaz application is a chance to highlight the amazing people in your business. Our evaluators want to see if they have the complementary skillsets to grow the business and tenacity to turn the business around, if needed.
Tell us how you and your team have overcome obstacles and why they are the best group of people to take the business forward.
The most important question: How will you invest the $50,000?
Be as specific as possible in your breakdown. How you choose to spend the money to grow your business tells our evaluators a lot about your priorities on the journey to scale.
How detailed should you be? Well, it doesn’t have to go into the nitty gritty… show us you understand what your business needs. What are the 5 to 7 big things that will impact your business most? Divide the $50,000 into chunks and tell us why your specific investment choices will bear fruit and how it will support your journey to scale.
Like 2019 winner Bonolo Monthe says, “Believe in yourself.”And, of course, remember that important deadline. The 2022 GoGettaz Agripreneur Prize Competition is open for entries until midnight, Central African Time, 6 June 2022. Go on! Start your application today! Or even better: use these tips and tricks to COMPLETE your perfect application, right now!