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29 a-earthsoft-be enterpreneur
 

29 a-earthsoft-be enterpreneur

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Earthsoft Foundation of Guidance (EFG) is working as an NGO/NPO for students - Education & Career ...

Earthsoft Foundation of Guidance (EFG) is working as an NGO/NPO for students - Education & Career
guidance and for Professionals for soft skills enhancements. I am working on speading , sharing
knowledge; experience globally.It has uploaded important presentations at http://myefg.in/downloads.aspx.
Also https://dl.dropbox.com/u/83265908/Links-events.xls has links for all ppt files.

Read http://tl.gd/jm1gh5

Be mentor using your education, knowledge & experience to contribute for a social cause & do conduct
free training/ workshop seeking help of existing platforms like rotary,etc
Kindly spread to your friends.Thank you!

- Earthsoft Foundation of Guidance
Let us make earth little softer..

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    29 a-earthsoft-be enterpreneur 29 a-earthsoft-be enterpreneur Presentation Transcript

    • Earthsoft Foundation of GuidanceEdge-Aggressive-Reliable-Trust-Honesty-Soft-Obedient-Fun-Transparent Making earth little softer
    • About usEarthsoft Foundation of Guidance (EFG) has uploaded followingpresentations at http://myefg.in/downloads.aspxAlso https://dl.dropbox.com/u/83265908/Links-events.xls has linksBe mentor using your education, knowledge & experience tocontribute for a social cause & do conduct free training seekinghelp of existing platforms. Kindly share with your friends•Motivation for higher study, Planning for study, Educationguidance, Career guidance, Career available after SSC & HSC•Personality development – 3 files•How to prepare resume, Tips to attend interview successfully•Religion related –To understand basic religion, Do &Don’t tips•Health related - Be vegetarian, Be healthy•Corporate - Project management, Assertiveness, Ownership - Effective communication•Finance - To avoid speculation in stock market•Social - Women empowerment, Choosing life partner Making earth little softer
    • Index Making earth little softer
    • Problem definition• Define a problem• Who are the stake holders• Population of actors who are suffering• Since when problem continuing• What is the cost of the problem• What is the current alternative• Quote from analyst regarding the need• To define the nature of product/service opportunities available while attempting to resolve those problems Making earth little softer
    • Vision• To specify vision statement leading to solution of the problem• Change one can witness post implementing the solution in future• Vision involves the foresight needed to acquire the necessary expertise to organize & mobilise the resources, to accomplish the desired results Making earth little softer
    • Gems of Wisdom Making earth little softer
    • Sources of opportunities• Technological change• Public policy shifts• Changes in public opinion• Changes in taste• Social and demographic change• Need of a day• Comfort• One umbrella solution• Scarcity• Desire Making earth little softer
    • Potential sources of ideas• Brainstorming – Individually or in groups/teams• Own personal experiences • What businesses have been done in the past? • Have you started businesses before? • What was learnt from success and failures?• Innovation and invention – A flash of individual inspiration• Spotting trends and anticipating their impacts on people’s lives Opportunity• Surveys Yes No Yes Idea No Making earth little softer
    • Generating business ideas• Copying ideas from other countries• Taking a scientific approach, working in a laboratory• Spotting flaws and errors in existing products – Can something be done better?• Noticing a gap that is not currently being produced• Wanting to do something different & may be big• Ambitions• Willingness to invest funds• Deep understanding of problems around & desire to solve those using technologies Making earth little softer
    • Creation of Ideas Education Knowledge Experience Connection Information Intelligence Creative thinking, ideas, Opportunities Making earth little softer
    • To start a business• Value proposition?• What are differentiators?• Reaching to customers?• Build long term relationship?• Revenue stream?• Profitable? Making earth little softer
    • To start a business• Know yourself & what is important to you• Set goals & Plan to achieve• Be a rising star - try to be always on top• Brand yourself, know strengths & saleable skills• Balance work, family, life enjoyment, pressure• Be ready for change• Be entrepreneur - Think starting your own, implement what you think is right, grow as much to build empire, convert idea into business• Create achievable business plan Making earth little softer
    • Getting started• Think of something you need/want• Think of something others need/want• Figure out what’s broken and how can you fix it• Find out what’s working for other companies and apply it in a new way• Invent a new technology and figure out how to apply it• Think of a marketing/growth strategy and then fit a product into it Making earth little softer
    • Gems of Wisdom Making earth little softer
    • Solution• To specify solution, preferred graphical• How is solution solving the problem• To capture all the actors involvedIs solution• Life changing?• Path changing?• Stylish?• Simple to adopt?• Difficult to copy?• Unique in its kind?• Affordable? As well as not very costly?• Reachable? Making earth little softer
    • Anything innovative? Product or Services Business Idea? Process Model Technology Making earth little softer
    • Key featuresKey pointers could be• Availability• Predictability• Cheaper• Comfortable• Eazy to use• Secured• Technology savvy• Efficient• Changes it will bring Making earth little softer
    • Benefits expected Making earth little softer
    • Business model• A business model is a blueprint that describes future organization & forecasts of the growth.• This can be from a quarter to several years• How an organization intends to create value• Business model components • The mission • Strategic resources—what we need • Partnership network—who we will work with • Service interface—how we connect to clients, donors, etc.• Need to check opportunity & threat (Supply & demand) Making earth little softer
    • Influences Customer need Legal Technology Business Model Competition Social Making earth little softer
    • Business model framework• What it offers to various customers• What is the capabilities for creating, marketing, and delivering the value• What is relationship capital with the goal of generating profitable & sustainable revenue Making earth little softer
    • Features• Business Plans is as simple as possible, more effective & interesting forecast of business idea, defines strategies, balancing and gaining edge utilising the strengths over the weaknesses• The main motive of a business is profit.• Business men don’t rush unless they forecast & address the weaker areas first.• It should reflect the realistic goals• Where you want to be? How? How much time?• How clients would be better served?• How the quality of the product & services be Making earth little softer
    • Goals & Objectives• Goal – The purpose towards which organisation is directed to achieve (generic action), may not be measurable• Objectives - Something that ones efforts or actions are intended to accomplish the target or purpose (Specific action),measurable & tangible• Five-year specific & measurable goals objectives. • Market share • Revenue & profitability Making earth little softer
    • Goals & objectives• Definition of success• Intermediate goals and success measures• Evidence that goals can be achieved• Timeline• Start of the enterprise• Incorporation date, if any• Hiring, space, and equipment acquisition• Start of service delivery• Beginning of cash flow from fees, grants, and donations• Enterprise growth milestones• Goal attainment Making earth little softer
    • Mission Statement• Mission is the process of defining objectives and developing strategies to reach those objectives• A clear statement of long-term mission of your organisation• To use the words that will help direct growth of your organisation• Be concise as possible. Making earth little softer
    • Mission related• What will the enterprise do, and what will it not do?• What does ―value‖ mean for this enterprise, and how is it measured?• What is this enterprise’s unique innovation or adaptation?• What is competitive advantage• What is gap between demand & supply• What constitutes ―success‖ for this enterprise? Making earth little softer
    • Gems of Wisdom Making earth little softer
    • Business Concept• Define concept & key technology• Market Segment• Customer base: B2B, B2C• Primary revenue source: Product Sales, Service• Secondary revenue sources• Scalability• Captive or service oriented• Overhead: Low, Medium, High• Investment till breakeven• Duration till breakeven, stable, grow & sustain• Losses if closed before breakeven• Profitability expected after stability Making earth little softer
    • Business Concept• Benefits for customers• Differentiators for customers• Strategic or nice-to-have• Value added services• What is sensitivity for the business – Cost, Quality, Services, Distribution, Trust?• Exit strategy: IPO, Buyout, Private & Profitable Making earth little softer
    • Business Detail• To specify detailed flow chart• Try to capture processes, actors & entities• Product or service• Performance characteristics• Cost characteristics• Delivery mechanism Making earth little softer
    • Business Detail Solution Unfair advantage Problem Unique value proposition Customer segment Key activity Channels Cost structure Revenue stream Product Market Making earth little softer
    • Business Detail Key activities Customer relationshipKey Partners Unique value proposition Customer segment Key resources Channels Cost structure Revenue stream Making earth little softer
    • Business Detail Making earth little softer
    • Attributes• List 5 competitive attributes• Draw a graph for expected performance• Decide Eliminate, Reduce, Raise or Create Making earth little softer
    • Edge• Edge over your competition is your strengths. This also a key feature.• Special achievement & knowledge in team may be a key differentiator and can result into growth• Special viewpoints and ideas• Core competencies• Education or experience Making earth little softer
    • Serviceability• Commitment statement on serviceability• Parameters to measure• Defining numbers for pathetic, poor, bad, ok, good, better, excellent services• Client is God. Profit and salary of all employees come from their money.• Always attempt for the best of the client services • Communication • Advices • Response Time • Suggestions • Delivery schedule & Quality Making earth little softer
    • Customer Profile• Characteristics of customers• Value proposition• Decision maker• How desperate for solution? Making earth little softer
    • Potential customers• One time or every time effort to grab new customer• Pull or push type?• Probably most important feature of the business.• Understand Who are customers? Whom to target and how?• Know the users mind• Who could they be the potential customers• Why would they be customers? Making earth little softer
    • Competition• Significant competitor name• Focus of their business• Competitive advantage of your organisation – to define differentiatorsWeaknesses• Weakness and how we exploit itStrengths• Strength and how we address it Making earth little softer
    • Competition & trends• Target market value• Additional prospect base• Existing organisations, their attributes• Significant competitors• Total competitors• Trends – Past, Present, Expected• To capture & review changes in market share, leadership, players, market shifts, costs, pricing, or competition that provide the opportunity for success of your organisation Making earth little softer
    • Gems of Wisdom Making earth little softer
    • Milestones• Stage 0 : discuss with close friends & expert, seek views, make a judgement & decide• Market survey & feasibility study• Stage 1: Founding the Business• Team, Incorporation, legal documents• Managing funding• Hiring• Ground work, basic systems, building initial product, offer services for selected geography• Beta test and rework product or pilot• Initial product offering• Marketing activity Making earth little softer
    • Milestones• Stage 2: Developing the Business• Manage funding• Crank up marketing activity• Aggressively obtain customers• Begin offering second product or expand service offering in various geographies• Emphasize customer acquisition• Entertain any acquisition offers that arise• Stage 3: Stabilizing the Business• Bring in efficiency in operation & management• Manage funding, cash flow, profitability• File for IPO, step towards exist policy Making earth little softer
    • Marketing Plan• Target Market, Segment or Demographics• Distribution and sales channels• Franchisee or own sales and marketing offices• Pricing and positioning – This is most critical decision & iterative mechanism• Branding and strategic position• Media & advertisement : Web / Magazine/ Inserts/ NEWS paper/ Trade Shows/ Billboards/ TV/ Radio• Marketing, franchisee, sales team development Making earth little softer
    • Resource planTechnology requirementsPersonnel / Resource requirementsInfrasturcture requirements - Building,Furniture, Internet, Communication devicesFinancial, Distribution, Promotional, Legal Making earth little softer
    • Financial Plan• Pricing Model• Preferably at least for 5 years• To forecast direct & indirect cost• To consider every small possible expense• Use conservative price point, may be input as a result of feasibility study• Detail price evolution over time, iterative mechanism• Stabilized gross margins• Gross revenue, net income and growth by year• Cash flow and capitalization needs• Say no to business If margin is less than 25%! Making earth little softer
    • Financial summaryMonthly plan from 1st year to 5 years• Revenue• Percentage and absolute profit• Accumulated profits/loss• Headcount• Customers count• Cash flow, capitalization needs, assetsOther details• Accumulated profits/loss till stabilisation phase• Month of breakeven & accumulated profits/loss• Maximum accumulated loss• % margins post stabilisation Making earth little softer
    • Team• Most important one point• Have right people at right slot• Gather the gems• Know the strengths of the people & work with those• List Board of directors & CEO• Vice presidents or Head for various divisions• Previous accomplishments & track record• Domain wise number of years of experience Making earth little softer
    • Partnerships• Interested Parties• Investor - Lead Investor organisation• Investor - Venture organisation• Law Firm & Attorney Name• Experienced in aggressive venture planning Making earth little softer
    • Risk & Issues• Risk – likely issue in future, probability < 100%• Issue – A problem to be solved• Manage the risk by mitigating & solve the issue• Financial risk• Legal risk• Talent risk• Environmental risk • Political and governmental • Economic • Demographic # Description Issue/Risk Mitigation Making earth little softer
    • Barriers• To list likely barriers• What is plan to overcome the barriers• To categorise the barriers like social, government, financial, legal, talent, mental, resources, finance, machinery, communication, etc• To specify level of control & grip to address Making earth little softer
    • Time management• Manage time well• Plan the work and work out the plan• Consider efficiencies of various systems to be dealt with & which are out of your control Making earth little softer
    • Keep revisiting• Keep revisiting BP & revising as you go in details, make it dynamic• Keep loopholes as minimum• Get it reviewed• Make another BP as a Plan B, so that anytime you can seek in more resources or change the variables Making earth little softer
    • Measure success• Keep measuring progress on monthly basis• Set the process & system• List the experiences and possible improvements Making earth little softer
    • Expansion Potential• Plan to expand business by way of additional• Customers• Products• Services• Franchisees• Geographies• Define measurable target quarterly & increase it till saturation• Plan to improve on quality of the product & services Making earth little softer
    • New Potential segments• Is there a new market ?• How do you plan to grab a new target market ?• Define quarter wise segments to be tapped• Is there any growth in specific sectors ?• How can these be tapped ?• Any specific segment wise strategy needed? Making earth little softer
    • Gems of Wisdom Making earth little softer
    • Manage change• Aim for sound business model & its execution• Manage implementation & change• To keep evaluating, learning and redesigning• To manage improvement Making earth little softer
    • Gems of Wisdom Making earth little softer
    • Common pitfalls of B Plan• Failing to communicate realistic goals• Failing to anticipate problems, lack of evident commitment or dedication to the venture• Lack of experience• Failure to demonstrate market niche Making earth little softer
    • Summary• What is the venture ?• Why is it new and important?• Who will benefit from it, and how?• How will the idea be executed?• Who is the social entrepreneur, and what unique skill, service, or background does he or she (or they) bring to the venture?• What kind of support for the enterprise is needed, and how much of it?• How much will be the margins?• What will constitute success? Making earth little softer
    • Next Steps• To specify immediate, short term and long term needs & actions Making earth little softer
    • Checklist• How determined am I?• Am I an expert in the business domain?• Would I be able for form a team of experts?• Am I willing to invest my own money?• What would happen to me if business doesnt work? What are the risks to my career & life?• Am I comfortable taking direction from others?• Would I be able to work with partners?• Am I in accounting & keeping track of profits?• Am I good in relationship management?• Do I have patience to work within the systems? Making earth little softer
    • Successful business• Entrepreneurial skills of Entrepreneurs• Skills of the individual owners• Importance of market research• External factors offering opportunity to develop a product idea• Importance of spotting a gap Making earth little softer
    • Q&A• To address any question or doubt• To encourage frank discussions Making earth little softer
    • Reference business proposal• Taxi service• https://dl.dropbox.com/u/83265908/Earthsoft-City%20Cab%20Proposal.ppsx• https://dl.dropbox.com/u/83265908/Earthsoft%20- %20Travel%20cab%20proposal.xls• Training across India• https://dl.dropbox.com/u/83265908/Earthsoft%20Foundation%20of%20Guida nce-%20Proposal%20for%20NSDC.ppt• https://dl.dropbox.com/u/83265908/Proposal%20for%20Soft%20skill%20dev elopment%20-%20India%20NSDC.xls Making earth little softer
    • Good to refer• http://www.slideshare.net/tosime/how-to-write-a-business-plan - Excellent• http://www.boardofinnovation.com - ok• http://www.slideshare.net/colinraney/planningness-2011 - ok• www.companieshouse.gov.uk• http://www.canadabusiness.ca/eng• http://www.slideshare.net/infe/web-20-business-models-270855 – excellent• http://www.slideshare.net/joestump/starting-your-startup - Excellent• http://www.entrepreneur.com• http://www.referenceforbusiness.com• http://www.sba.gov• http://www.carnegielibrary.org• http://www.slideshare.net/vinaya.hs/business-plan• http://www.slideshare.net/arnabray/business-planning-startup-strategies• www.bdc.ca• http://www.slideshare.net/startmeupryerson/rabbani-bdc-start-ups-2 Making earth little softer
    • Gems of Wisdom Making earth little softer
    • Thank You Making earth little softer