Reflections- Learning Launch

Challenges

In August 2005 I started a small business selling eggs. My business is located in Maseru urban area  and it started with 300 point of lay chicks and currently have 1500 chicks. May challenge is expand  the business in other places so as to grow and increase sales. What is more challenging about this  expansion is the availability of finance as my business is small and it is not so easy to get access to  enough external finance  such as banks loans as they require so much security to get enough  finance. Secondly other easily available sources of finance such as loan sharks are expensive interest  wise. This leaves me with no option but to rely on business retained profits and my own personal  assets. This challenges resulted from the fact that I have ran out of space and I need large sums of  money to finance this expansion particularly for acquisition of land whether through renting or  buying as this appeared to be the costly part as compared to shelter and cages and buy new stock of  chicks and their food.

Selection

From the research myself my team conducted I learned in the rural areas part of Lesotho there is  high demand for eggs particularly from schools feeding program. Secondly, I have learned that there  are individuals who own plenty of land in rural areas. So, from the learning launch that l learned in  this course I decided to seek someone who have a field and enter into a 50:50 shareholding  partnership to run poultry farm with. The idea is not only to find space but also to gain experience in  running a jointly owned business.

Application

As the first step to the learning launch, I concentrated on investing or gathering more information  about available different sources of external finance to different types of businesses. For this to  happen I consulted the Small and Medium Enterprises training held by Basotho Enterprise  Development Corporation (BEDCO) because of its responsibility regarding development of Small and  Medium Enterprises in Lesotho. I also attended training facilitated by the same corporation on  business management. This tested whether the access to external sources of finance is the main  challenge for my business expansion.

Insights

Through application of learning launch tool, I have managed to identify my assumptions and  designed launches to tests them.  I also expected that approaching the already existing partnerships,  combined with attending business management training will provides me better ways of growing my  existing business. Although, the training helped a lot in gaining more information about how to grow  the business and increase sales, the partnerships that I approached were reluctant to provide helpful  information despite me telling them about my intentions. Nonetheless, from what I have learned  from the insights that growth of the business depends on the discipline of treating it as a separate  entity, I am confident to run a jointly owned business as guided lawful agreement despite the actual  results differing slightly from my expectations that expanding to other places is the only way to grow  the business and increase sales. So, going forward I will continuously revisit this insights and  incorporate them into future launch designs.

Approach

Given the fact that I have already conducted research and attended a number training sessions and  proofed that there are people who own land and are willing to enter into jointly owned business, I  really need to enter into the partnership business so as to have more reflection for the learning  launch approach. As already mentioned I will continuously review the above mentioned insights  such that I can incorporate them into my future plans for this business. This is to ensure that any  future launch designs really reflect the insight gained, development made and come closer to the  convincing solution ready for full rollout.


Reflections- Learning Launch Challenges In August 2005 I started a small business selling eggs . My business is located in Maseru urban area and it started with 300 point of lay chicks and currently have 1500 chicks . May challenge is expand the business in other places so as to grow and increase sales . What is more challenging about this expansion is the availability of finance as my business is small and it is not so easy to get access to enough external finance such as banks loans as they require so much security to get enough finance . Secondly other easily available sources of finance such as loan sharks are expensive interest wise . This leaves me with no option but to rely on business retained profits and my own personal assets . This challenges resulted from the fact that I have ran out of space and I need large sums of money to finance this expansion particularly for acquisition of land whether through renting or buying as this appeared to be the costly part as compared to shelter and cages and buy new stock of chicks and their food . Selection From the research myself my team conducted I learned in the rural areas part of Lesotho there is high demand for eggs particularly from schools feeding program . Secondly , I have learned that there are individuals who own plenty of land in rural areas . So , from the learning launch that l learned in this course I decided to seek someone who have a field and enter into a 50:50 shareholding partnership to run poultry farm with . The idea is not only to find space but also to gain experience in running a jointly owned business . Application As the first step to the learning launch , I concentrated on investing or gathering more information about available different sources of external finance to different types of businesses . For this to happen I consulted the Small and Medium Enterprises training held by Basotho Enterprise Development Corporation ( BEDCO ) because of its responsibility regarding development of Small and Medium Enterprises in Lesotho . I also attended training facilitated by the same corporation on business management . This tested whether the access to external sources of finance is the main challenge for my business expansion . Insights Through application of learning launch tool , I have managed to identify my assumptions and designed launches to tests them . I also expected that approaching the already existing partnerships , combined with attending business management training will provides me better ways of growing my existing business . Although , the training helped a lot in gaining more information about how to grow the business and increase sales , the partnerships that I approached were reluctant to provide helpful information despite me telling them about my intentions . Nonetheless , from what I have learned from the insights that growth of the business depends on the discipline of treating it as a separate entity , I am confident to run a jointly owned business as guided lawful agreement despite the actual results differing slightly from my expectations that expanding to other places is the only way to grow the business and increase sales . So , going forward I will continuously revisit this insights and incorporate them into future launch designs . Approach Given the fact that I have already conducted research and attended a number training sessions and proofed that there are people who own land and are willing to enter into jointly owned business , I really need to enter into the partnership business so as to have more reflection for the learning launch approach . As already mentioned I will continuously review the above mentioned insights such that I can incorporate them into my future plans for this business . This is to ensure that any future launch designs really reflect the insight gained , development made and come closer to the convincing solution ready for full rollout .