STEP-BY-STEP GUIDE ON HOW TO ANSWER DIAMOND BANK BET5 QUESTIONS

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Step-By-Step Guide on How to Answer Diamond Bank BET5 Questions

 

This is a step-by-step guide, tool-by-tool and topic-by-topic on how package your business idea or concept for year 2015 Diamond Bank Building Entrepreneurs Today BET5 program.

This is a premium content for members of the Association of Small Business Owners of Nigeria – ASBON. To join ASBON, please call 08022633050

In this simple but step-by-step guide on how to package award winning BET5 business concept that makes you stand out from the crowd, I took time to explain everything in a simple way that you can easily comprehend. You can login to watch the video. The purpose of this guide is to explain everything you need to know or have to package an investor-grade business concept for BET5 and also to package a simple but very effective video pitch that convey your business value that sells you.

I took time to explain the tools you can use to produce that innovative and creative 60seconds video pitch. I also give link to watch sample video pitch and what you should capture in your pitch.

In addition to that, I took time to explain questions like Describe your business in detail, market potential, your duties, how to answer question on goals in the next five years and many others.

Diamond Bank Building Entrepreneurs Today BET 5 is for existing business for at least 3 month in the following categories- Agriculture, Fashion, information technology. There is a space to select others if your business category is not listed

Top 50 businesses will be selected and provided with extensive training, mentoring and advisory by the Enterprise Development Centre with the top 5 businesses winning 3 Million naira each.

Without wasting much time, let’s me delve into the main thing. The first section requires you to enter your personal details but first let’s run through all the questions

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Personal Data

  1. Name
  2. Phone
  3. Email
  4. YouTube Video Url
  5. Company Name
  6. Address
  7. Date of Birth
  8. Marital Status
  9. Next of Kin
  10. No. of Household Members
  11. No. of Dependents
  12. Nationality
  13. Country of Residence*

Business Information

  1. Nature of Business*
  2. Is this business registered?*
  3. Years in Business*
  4. Designation*
  5. Give one sentence description of your duties in your business
  6. Total no. of employees

19a. Male Employees*

19b. Female Employees*

  1. Initial Capital*
  2. Source of Initial Capital*
  3. How much sales have you had in the last one year?*
  4. Annual profit in the last one year?*
  5. Describe your business in detail, this should include your market     Potential (Not more than 250 words)*
  6. Are you still under paid employment?*
  7. Mention the organisation (if applicable)
  8. How will the bet program benefit you?*
  9. Mention your top five competitors*
  10. If you project your company in the next five years, where do you see it?*

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Educational Background

  1. (Start with highest qualification and include degree in view)

Schools Attended | Qualifications | From (E.g. 1999) | To (E.g. 2012)*

  1. Any professional quailfication? (Give details)
  2. Any previous scholarship? (Give details)
  3. How did you obtain information about the program?

I will not bother answering personal questions because I believe you can easily answer them

The major question under personal section is where to upload your video pitch and you need to produce your video first before coming here. So let’s see how we can achieve that

YouTube Video Url

Here you are to enter your video url you uploaded to Youtube.

This is how to achieve this. Your video doesn’t have to be taken in the studio, or with super powerful camera. It doesn’t have to be capture with the best camera, but it should convey a compelling message about your product or service in a way that it sells you by explaining the value of your business opportunity. .

The Video Pitch

Your video pitch is short summary statement you make to deliver a compelling message about your product or service. It is usually very short video and should be compelling.

Purpose of Video Pitch

To communicate the confidence you have in your business

If you deliver your pitch and your confidence doesn’t come across, how can you expect to confidently sell your idea to potential investor or those that would vote for you?

Different Types of Business Pitches

There are about 4 different types of business pitches, there are:

  1. The Elevator Pitch
  2. The Video Pitch
  3. The One-Page Pitch
  4. The On-stage Pitch

But since BET5 wants you to create 60 seconds video pitch to share your concept, I will focus on The Video Pitch here to save time.

The Video Pitch

Your video pitch should be a short video and it should not be more than 60 seconds and within the 60 seconds, you should be able to sell yourself by explaining the value of your business opportunity.

Since it is a video pitch, your video allows you to include your voice, images of your product, testimonials from your customers, music if need be, customer review just to mention a few.

Your video should be fun, creative or innovative. Adding a video pitch that is innovative and creative will help you stand out from the crowd, as well as increase your likelihood of having your pitch viewed and voted for. It’s difficult to share your personality and passion in writing, so take advantage of video.

Like I said before, you don’t need state-of-the-art video camera and equipment to capture your video, your phone camera is enough to handle this. So just use your phone to capture this. What is very important is the message and the value you are going to share.

Tools and Method to Capture Your Video Pitch:

Camera Phone/ Video Camera: If you have a phone that has camera and can record video, you can use the camera to capture your pitch. Ask someone to help capture you while you are delivering your pitch. You can write your pitch on a cardboard, computer screen or piece of paper and read from there. But let the cardboard be behind the camera.

If you can afford the service of a professional camera man, you can engage one to give you a professional shot and help you to edit it.

Using Computer Webcam:

Your computer can also give you a nice video capturing without you having to spend a dime on other tools or service of a professional camera man. In fact using your computer webcam is the easiest because you can do this by yourself. Just put on your webcam and use it to capture yourself while you are talking. You can edit it and the end to suit you.

Check out my video on how to use webcam and PowerPoint to capture your pitch

Screen Recorder

Another way you can capture your video pitch is by using screen recorder and capturing software like Camtasia, camstudio, Animoto etc, You can use PowerPoint to prepare your slide before pitching

PowerPoint Slide/Presentation

If you don’t have camera to capture your video pitch, you can use PowerPoint to prepare your slides that include your message, your product images, testimonials, music etc, and convent it to video. The beauty of using PowerPoint is that you can use it to record your slides and your voice while explaining what the concept is all about and delivery an excellent pitch.

I recommend you use PowerPoint 2010 to record your slide. After preparing your slide, recording it, you use ‘save as’ to save your recording in Windows Media Video (wmv) format.

Online Video Tools

There are couple of video creating tools online that you can use to insert your voice, images, texts, graphics etc to produce some nice and simple 60secs pitch video.

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Other questions under the personal details are: Company Name- where you are to enter your company name,

Address– You enter your address. It can be your home or office address.

Date of birth: Here you enter your date of birth.

Marital Status: You selected the one that best describe your status

Next of Kin: Here you enter who is your next of kin

No. of Household Members: How many people are in your household, just enter the number here

No. of Dependents: Here you mention the number of people that are not working but depend on you or the family to survive.

Nationality: Which country are you from, mention it here

Country of Residence: Which country are you currently residing, mention it here.

This is a premium content for members of the Association of Small Business Owners of Nigeria – ASBON. To join ASBON, please call 08022633050

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