This workshop training is tailored towards all employees approaching retirement shortly, or in a few years’ time; they will confront real economic issues after their years of employment in their respective organizations. The course shows that retiring from corporate employment needs not become a calamity. It also introduces participants to post-retirement Entrepreneurship, as they are taken through an orientation of “entrepreneurial personality” which, rather than being characterized by a propensity for risk taking, will among other things focus on one thing – “opportunities maximization.”
Delegates will learn a number of entrepreneurial logics and be made to dig deep into ideas - underlying a product or service they could think of venturing into, prepare such ideas, getting started, and keeping it going with commitment.
The workshop will also give the participants ways to:
- Identify their talents and personal capabilities that they can utilize elsewhere
- Restructure their lives
- Implement a successful financial life plan
- Invest wisely
- If desired, start and run own business and become successful entrepreneurs
- Where needed, get new satisfying employment.
General Retirement Orientation
- State of the economy and prospects faced in retirement
- Coping with severance from corporate employment
- Choice of what to do next.
- Types of investments currently available in Nigeria
- Guidelines and advice on selecting investment types.
Can You Run Your Own Business?
- Planning a new business
- Business development process.
- A random walk through simple businesses suitable for retirees
- The disciplines for business success
- Preparation of a business plan
- Legal requirements for business.
Nurturing a Business for Profitability
- Structure for a retiree’s business
- Marketing knowledge and selling skills to propagate the business
- Attention to the financial health of the business – capital and cash flow.
- How to Choose an Entrepreneurial Endeavour to Pursue
- The courage to take the leap.
- Capital for the business - the seed money to get started
- A sample Business Cash Flow Projection
- A sample Profit & Loss Account.
- The art of positioning the business
- How to monitor trends to shape the business to success
- A sample business model
- How to grow the business – making the business prosper.
Selling and Marketing
- A sample sales plan
- How to reach the potential customers
- Promoting the business – publicity, website advertisements, mobile advertisements, other media.
The Product/Service Pricing Principles
- Pricing a highly differentiated product/service
- Pricing an undifferentiated product/service
- Pricing a “Must Have” product/service
- Pricing a “Substitutable” product/service.
The Retiree’s Job Description as a Business Owner
- Managing time as a business owner
- Decision making
- Decision implementation
- Managing meetings
- Paper work.
Finding the Right People
- The art of recruiting
- Productivity culture
- Quality and safety culture.
Keeping the Company Legal
- How to go about a Partnership business, if one is being considered
- How to become a Merchant, if trading is being considered
- How to start a Production business, if manufacturing is being considered
- How to start a Service business, if service is being considered.
Locating the Business - the considerations.
Investment specialists will be brought in to give investment orientation, current opportunities and guides to the participants.
Health and Leisure
- Ageing gracefully.
- Balancing work and health.
- Health guideposts.
Who Should Attend
- We recommend that employees attend this workshop programme at least three years prior to retirement. By so doing, they are afforded the luxury of time to do everything necessary in good time.
- It’s essential that female employees or the partners of male employees attend before their pension age even if they intend to work past this age.
- If they don’t, they risk losing lots of money to pension by failing to have paid sufficient national insurance contributions.
- We do urge employers to allow partners, other family members or a friend to accompany the retiree. This is because retirement will affect all those they interact with. Whether family or friends, our pre-retirement workshop course has various topics that will interest everyone.