To create a work opportunity for themselves, a group of 10 teachers wanted to start up their own language school in Nicaragua. SIFE University of Groningen helped them by providing support and advice. Our help mainly consisted of doing market research, writing a business plan, advising them on steps to take, and creating a website. We had several skype conferences with them in which details were discussed concerning the business plan and the website. Our expertise was useful in the fields of cost, marketing, and competitor analysis.
With our help, the teachers gained a lot of confidence - they developed a detailed business plan, got a clear view on their own project and understood the working method. In fact, they acquired such knowledge, that they were asked to help with the foundation of more schools in the city of San Carlos.
So the students of our team provided a small group of people with basic knowledge of entrepreneurship, market economics, cost analysis, marketing and competitor analysis, and then the people that we provided with this knowledge could pass this on to others!