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Planning for a venture


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Published in: Economy & Finance, Business

Planning for a venture

  1. 1. Planning for a New Venture Bivin Jose Department of Psychiatric Nursing MB CN, Kothamangalam
  2. 2. Introduction • Venture: Risky start-up or enterprise company. • Venture Planning is a personal assessment of feelings & the feasibility of a venture. • The Venture Feasibility process examines the key factors in any venture.
  3. 3. Meaning • Venture refers to a risky start-up or enterprise company • New ventures are business plans that gives an opportunity or chance to set up a company/ business on the basis of innovative ideas • It is build upon customer driven ideas or technology
  4. 4. Key factors in venture concept planning 1. Which venture concept produces the most sales, the best margins, the highest net profit and the lowest breakeven? 2. Which model requires the least investment by entrepreneurs and others? 3. Which concept requires equity as opposed to debt financing? 4. Which produces the highest "Return on Investment" and the best liquidity? 5. Which model requires the entrepreneur to give up the least equity?
  5. 5. Factors in Venture Planning o Entrepreneurial mindset & skills o Possible risks & dangers o Speculations on investment yields o Reputation status of the firm o Possible refutation
  6. 6. Process of VP Idea Concept Development Venture Feasibility Analysis Initiating New Changes Business or Operational Plan Budget vs. Actual/New Plans. Venture Development Monitoring Progress
  7. 7. Process of VP Define the project Identifying the venture impasses Develop simple budget & business plan Do feasibility study Plan for physical facilities Consider fiscal sponsorships Legal aids when necessary
  8. 8. High growth business development Rapid growth Initial growth Start up Continues growth
  9. 9. Keys to good venture planning • Focus on one venture at a time in one business area at a time. – Discover the opportunity first, and then evaluate how to exploit it. – Develop three cases good, bad & likely for each scenario of a venture concept. – Identify what type of venture you want. Each type has an entirely different model, implementation and end result. Each demands a different entrepreneurial approach and each requires different management and style.
  10. 10. Keys to a Good First Venture Founder's alignment with the mission Available product Guaranteed or qualified customers Advantageou s Cash Flow Equity Control Lifestyle of High Profit smaller business Supportive local environment Relevant Experience Routine concept Neutral State and Federal Environment Low Overhead
  11. 11. Venture proposal checklist • Proposals functions as an important tool in avoiding any future problems in any ventures • They help to prevent – – – – Acting on impulses Proceeding with half-baked idea Disastrous outcomes Exposing the fear that certain facts could spoil what may seem to be great idea • There are 2 versions – Short version – Long version
  12. 12. Items in the Venture proposal checklist • • • • • • • • Framework of the plan Appendices, attachment etc Main issues under the key section Work program assignments based on the framework & lists Key sections in a logical order Critiques from the advisor Summary & conclusion Evaluation strategies
  13. 13. Areas for VP in Nursing service Institution based care Process oriented Procedure driven Based on mechanical & manual intervention Provider driven Treatment based Reflective of late stage intervention Based on vertical clinical relationships
  14. 14. Areas for VP in Nursing service o Mobility based on multiple settings o Outcome driven o Best- practice oriented o Emphasized by technology and minimally invasive intervention o User driven o Health based o Geared for early intervention o Based on horizontal clinical relationships -Porter-O‘ Grady (2003)
  15. 15. Risks in new ventures • Market risks – Market strength to support the venture – Trends in the market – Structure and distribution of the market competition • Operational risk – Problems related to delivering the quality products on customer-satisfaction • Financial risk – Changes in the financial projections/predictions
  16. 16. Resolution of risk Market Analysis & Revise Financial model Operation model
  17. 17. References 1. Jogindra Vati (2013). Principles & practice of nursing management and administration, I ed., New Delhi, Jaypee Brothers Medical publishes (P) Ltd. 2. Deepak K, Chandran S & Kumar M (2013), A comprehensive textbook on nursing management, I ed., Bangalore, Emmess Medical Publishers. 75112 3. Booyens WS(2007), Dimensions of nursing management, II ed., Cape Town, Zebra Publishers. 137-139