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OE clearly show in the model what is connected to what. OE Make clear that when this pawn falls, somewhere else something will fall as well. OE That is something we really talk about in-depth. What is the motivation to start a business? OE Especially the first question; 'why do you so badly want to have your own business?' The first three years you will be in the shit. OE it is very important to realize: ‘I choose for this because, ... ‘ OE I always say; 'the financials are the foundation of your plan'. It should not be the drive OE Start with the mission, what do you want to contribute? Financials on the side, only facilitating. It is important but should not be the drive. OE When you say now, in five years I want to do this and this, it does not mean that you cannot change your plan in the mean time OE than back to the action plan, where do you want to be in 6 months, and what needs to be done in the mean time? OE When you say now, in five years I want to do this and this, it does not mean that you cannot change your plan in the mean time OE First really think about why you want to start and from there make sure you offer something that people demand. MB Its difficult to prioritize and relate those things. In the end if you can life from it is very important. It might be first the person, should he try to be an entrepreneur? Second can he life from that, and that is related to his product and the demand. MB Financials are than not the drive but just facilitating MB In general, it is important that someone remains flexible no matter what happens and keeps seeing opportunities. Real entrepreneurs do that. CS someone would have a good idea but would look weird. Then they would say; 'you are not going to bring that product to the market', that is just not going to work. CS someone has it or not, you can try to learn it, but it has to lead to something and you really have to work for it. CS It will of course be very nice, but [the social aspects] is almost optional. CS I think you have to remain realistic and that it stays useable. AP Social objectives, but it can also be environmental objectives. Often you see that there are also financial objectives related to that. Elmar Hoogendoorn 131 Sustainable Microfinance
Appendix P – Most Important Financial Social Demand Personal Satisfaction Reason to Start Network KH The financials in general, and do those ads up to profit. A real in- depth check, does this make sense? KH on the one hand the social aspect and on the other hand the more financial side, those are the two main important things. VS The entrepreneur really needs to show that he taught his plan through. He needs to know what his customers want. Show that he has done market research, searched the Internet. TB the most important thing is that he is satisfied, why does he need to make money than? TB Do not start from the financial perspective. Accepted that the financial is only there to facilitate the other aspects. Go to the costumer and employee and ask what do you really want. TB make the social aspect important. What do you want to contribute to the society? Empowerment of people, growth. Ask yourself, what do you want to achieve? TB you should only create and support a business when it clearly and explicitly has an economic, and or social and or ecological objective. I really mean that. RL the first step is to see where the demand is. Without demand, you do not even need to start. RL your network is extremely important especially when you offer a service. OE That is something we really talk about in-depth. What is the motivation to start a business? OE Especially the first question; 'why do you so badly want to have your own business?' The first three years you will be in the shit. OE it is very important to realize: ‘I choose for this because, ... ‘ MB That is very important that people do not start when is does not make sense. MB most important are a lot of personal characteristics. MB Things will go very differently than how you have planned them. In the end, the personal characteristics are the most important, how are you going to deal with that? MB Entrepreneurial capacities are important. I think that 'secretly' that is one of the most important things. MB Whether you remain an entrepreneur is whether you remain calm and see opportunities. I think those things are more important than all those other things. MB In the end if you can life from it is very important. AP For example MFI want to improve the living conditions of their costumers. How do we create insight, and how can we check whether that is really happening? AP In first instance that is really about the measurement, how do you make sure you measure something that you know how well you are doing? AP Second how do I use the information I measured in my internal business processes, to use that in a strategic way. When I see, that my customers, my microfinance customers do not get better from it, by income or assets or whatever. AP What I find important is that when you implement this at a MFI, than what is the mission of that MFI? When that is the empowerment of women, if that is your mission, than you need to be able to say something about that. AP Is that going good, how many women did we empower, what is that and how do we measure that? AP If you are a MFI that does not focus on woman, than I do not think it makes a lot of sense to measure the percentage of women. AP In that perspective, if you talk about do you measure millennium goals, which are still relatively broad. I am more specific, I sit down with them and talk about; 'what is your mission and what concrete objectives can you filter from that, and from there measure. AP you can look at several things, you can look at what type of customers do I have? Most organizations say we focus on poor costumers. Than, I want to see that. Than you will help such an organization to measure whether they are helping the right target group. Elmar Hoogendoorn 132 Sustainable Microfinance
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! ! Sustainable Microfinance Balanc
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Keywords and Abstract Sustainable M
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Condensed Table of Contents ! ! Key
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3.3 Lessons from previously develop
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List of Figures ! Figure I-1: Thesi
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List of Abbreviations BDS Business
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1. Overview This chapter serves as
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In 2007, the Dutch Ministry of Econ
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collect information or seek specifi
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In some regions entrepreneurs are a
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• What different players in the D
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2. Theory and Literature Review - M
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investors expect to gain from the f
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2.4 Microfinance in (Western) Europ
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A MFI in the survival mode can bare
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The main factors that negatively af
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that are needed in order to transfo
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According to Lämmermann, et al. (2
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2.5.6 Success of BDS Lämmermann, e
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The final conclusion relates to the
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Kaplan and international strategy c
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investments in learning will lead t
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• Derived from strategy; • Stim
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emaining drivers of the model are;
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Greatbanks and Tapp (2007) Manville
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that fail to effectively plan for t
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objectives (obligations) establishe
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Section II. Research Design The pre
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the use and usefulness of PMSs by s
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Figure 4.1: Step model of inductive
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4.5 Methods of Data Collection In o
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All eight groups are interesting fo
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must take into account with the rel
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Section III. Findings and Discussio
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KH VS TB RL OE MB CS AP Total App.
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street and within an area of 500 me
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A final aspect that is exceedingly
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For the model Stefano (2010) propos
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know a lot about this topic', often
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5.3 Summary Based on the empirical
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6. Discussion 6.1 Introduction This
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6.2.4. Sustainability Entrepreneur
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6.2.9. Network & Business Developme
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The discussion is ended with a fina
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• Since the development of microf
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Page 93 and 94: cannot be controlled by the researc
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Page 105 and 106: Based on the results from the liter
Page 107 and 108: 8. Table of contents Preface List o
Page 109 and 110: References Armendáriz, B. 2009, 'M
Page 111 and 112: Work program March April Week numbe
Page 113 and 114: Figure B-2 Simplified Strategy Map
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Page 117 and 118: Organizational Development • What
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Page 121 and 122: Appendix E - Social ! KH jobs creat
Page 123 and 124: Appendix F - Financial ! Liquidity
Page 125 and 126: OE through friends and family and a
Page 127 and 128: MB that has to do with you financia
Page 129 and 130: RL You can test it, by launching fo
Page 131 and 132: Appendix I - Internal Business Proc
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Page 135 and 136: Appendix L - Network ! Professional
Page 137 and 138: Appendix M - Business Development S
Page 139 and 140: Appendix N - General BSC model ! Us
Page 141: Appendix O - Relation and Link ! Eq
Page 145 and 146: Appendix R - Sustainability of Micr
Page 147 and 148: Appendix S - Qredits ! KH The main
Page 149 and 150: Bibliography Affleck, A. and Mellor
Page 151 and 152: Derban, W., Binner, J. and Mullineu
Page 153 and 154: the case of the tourism industry,
Page 155 and 156: Kunc, M. (2008), 'Using systems thi
Page 157 and 158: McKinsey & Company, p. 3., Availabl
Page 159 and 160: Shrader, C.B., Mulford, C.L. and Bl
Page 161: Woodworth, W. and Woller, G. (1999)
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