DTI trains youth in Dinagat Islands with entrepreneurial skills
DINAGAT ISLANDS -- The Department of Trade and Industry - Province of Dinagat Islands (DTI-PDI), in collaboration with the Municipal Social Welfare and Development Office and the Local Youth Development Office of the local government of San Jose, concluded the Youth Entrepreneurship Program: You Can Be Your Own Boss (YEP! BYOB) Workshop. on July 16 -19 at the Justiniana function hall in Brgy. Justiniana Edera, San Jose, Dinagat Islands.
The four-day workshop focused on equipping youth participants with essential life and entrepreneurship skills to start and manage a business. On the first day, participants were guided through self-assessment to determine their potential as successful entrepreneurs. They learned the importance of having a vision and mission statement and setting SMART (specific, measurable, achievable, relevant, and time-bound) goals. Tools for identifying business opportunities in the community and empathizing with customers were introduced like community mapping and empathy mapping, along with an introduction to the Business Model Canvas through a collaborative activity.
The second day centered on business operations, where participants engaged in activities designed to enhance critical thinking and problem-solving skills. They explored various marketing strategies, focusing on the marketing mix, which includes the four Ps: product, price, place, and promotion. Through interactive workshops, the youth learned to develop effective marketing plans, analyze pricing strategies, and choose appropriate distribution channels to reach their target market. They also discussed promotional techniques for attracting and retaining customers. Additionally, the sessions covered supply chain management, quality control, and the importance of efficient business processes.
The third day shifted focus to 'My Team and Resources,' emphasizing teamwork and managing finances. Participants learned how to create organizational charts, which helped them understand the structure and roles within a business. They also discussed the financial aspects of running a business through the Business Expense Savings Training Game. This interactive exercise provided them with basic knowledge of bookkeeping and financial management, teaching them how to track expenses, manage budgets, and make informed financial decisions.
The workshop's first three days had been dedicated to equipping the participants with the skills and knowledge needed to develop their business pitches. While the final day featured a business pitch competition where participants presented their business ideas, incorporating comprehensive elements such as operations plans, marketing plans, organizational plans, and canvasses for the business model. Participants detailed their operations plans, outlining the processes, logistics, and resources required for efficient business management. Their marketing plans showcased strategies for reaching their target audience, including promotional tactics, pricing strategies, and distribution channels. They also presented organizational plans, illustrating the structure of their teams and the roles and responsibilities within their businesses.
The Business Model Canvas offered a visual summary of their business models, highlighting key components such as value propositions, customer segments, revenue streams, and cost structures. The panel of representatives from the DTI, Department of Labor and Employment, Department of Science and Technology, and the Provincial Cooperative Development Office, who are crucial in the development of micro, small, and medium enterprises (MSMEs) in the province, evaluated these presentations. Their feedback and support were vital in fostering entrepreneurial growth and driving economic progress in the province.
The YEP! You Can Be Your Own Boss Workshop empowered the youth of Dinagat Islands with the skills and knowledge necessary to pursue entrepreneurial ventures, contributing to the economic growth and development of the community. (DTI-Dinagat Islands/PIA-Dinagat Islands)
