Top Five (5) Key Success Factors to run successful Enterprise Development Programmes (ESDPs)
- There must be buy-in from the Executive Management of your organisation for the programme to run successfully. Without the buy-in from key stakeholders, the programme will hit a brick wall every time key decisions need to be made.
- There must be a budget allocated to procure products and services from the enterprises and suppliers being developed. It is not enough to just train and develop the beneficiaries on entrepreneurship skills. They also need access to markets that will ensure their growth and sustainability in the long run.
- Funding needs to be made available for the growth needs related to purchases of new equipment, marketing collateral, cash flow and even access to mental wellness services. It is not enough to point out their development requirements, they also need to be supported with the right tools to do so.
- Coaching and mentorship should be included in the ESDP. In this manner, the enterprises will be ‘hand-held’ through their growth and development journey.
- The ESDP must be tailor-made for each enterprise and entrepreneur’s unique development needs. While some development areas may be common, there is no one-size-fits-all development approach.
TTF’s focus on ESDP means that clients gain access to Subject Matter Experts who will review and formulate their ESD strategies, design programmes that integrate into their corporate strategies, and skillfully execute them through the employment of project and programme management tools, techniques, and methodologies. TTF’s solutions for ESDP include advisory services, the recruitment and selection of suitable beneficiary SMEs, entrepreneurship skills training and development, tailor-made holistic support for the SMEs, coaching and mentorship, and facilitating access to markets and funding. Contact The Transformation Firm for your organisation’s tailor-made ESDP.
