Introduction chennai


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Introduction chennai

  1. 1. Business Plans and Business Models
  2. 2. IntegrativeIntrapreneurEntrepreneur
  3. 3. Session Flow1. Introduction, entrepreneurship & idea scrutiny2. Ideation to business models3. Business plans
  4. 4. Content• Frameworks• Examples• Cases• Exercises
  5. 5. EntrepreneurJoseph Schumpeter - an innovator playing the role of a dynamic businessman adding material growth to economic developmentTimmons - Entrepreneurship is the process of creating or seizing an opportunity and pursuing it regardless of the resources currently controlled
  6. 6. Reasons for Growth of Entrepreneurship• Industry Structure• New technologies• Deregulation and privatization• Formation of new business communities• Increasing demand for variety• Government incentives and subsidies• Increasing flow of information
  7. 7. • Easier access to resources• Entrepreneurial education• Return on innovation• Entrepreneur as a Hero• Self-employment is highly valued• Rising dissatisfaction at job• Acceptance of ex-entrepreneurs in the job market
  8. 8. Impact of Entrepreneurial Firms• Job Creation• Economic growth• New Technology• Serving small markets
  9. 9. Why Start a Business?• Control• The idea• Flexibility• Money
  10. 10. Pros & Cons• You are the boss • You are alone• All profits are yours • All decisions are yours• There will be great variety • All losses are yours in roles and tasks • Work may not be• Increases self confidence satisfying• Work can be very • You will need to put in satisfying long hours• Success will give you • Lack of success will effect immense satisfaction self esteem • Exiting the business is difficult • Pressures will affect social and family life
  11. 11. Entrepreneurial CharacteristicsTimmons:1. commitment and determination;2. leadership;3. opportunity obsession;4. tolerance of risk, ambiguity and uncertainty;5. creativity, self-reliance and ability to adapt; and6. motivation to excel
  12. 12. Bianchi1. being an offspring of self-employed parents;2. being fired from more than one job;3. being an immigrant or a child of immigrants;4. previous employment in a firm with more than 100 people;5. being the oldest child in the family6. being a college graduate
  13. 13. Entrepreneurial Skills• Creativity and Opportunity Evaluation• Real-time Strategy and Decision Making• Comfort with Change and Chaos• Teamwork• Evangelism, Selling, Negotiation, and Motivation through Influence and Persuasion• Oral and Written Communication• Basics of Start-Up Finance, Accounting and Law
  14. 14. Entrepreneurial Attitudes• Comfortable with lifestyle changes• Willingness to break / bend / stretch laws• Patience to start small• Prepared to make enemies• Comfort with confrontations• Dealing with failure• Willingness to learn
  15. 15. Types of Entrepreneurs1. Early starters2. Experienced3. Mature1. 1st generation entrepreneurs2. From Business families3. Minority entrepreneurs4. Women Entrepreneurs
  16. 16. 1. Novice2. Serial3. Portfolio
  17. 17. Reasons for Entrepreneurial Failure• Lack of experienced management• Few trained or experienced manpower• Poor financial management• Rapid growth• Lack of business linkages• Weak marketing efforts• Lack of information• Incorrect pricing• Improper inventory control• Short term outlook
  18. 18. Startup Genome Report1. Founders that learn are more successful2. Startups that pivot (once or twice) raise more money3. Investors who provide hands on help have little effect4. Solo founders take longer to scale5. Balanced teams are good (business/tech)6. Successful founders are driven by impact
  19. 19. Startup Genome Report7. Founders overestimate value of IP8. Startups need 2-3 times longer than expected to validate market9. Startups overestimate market size10.Premature scaling is the most common reason for failure
  20. 20. Startup StagesDiscovery Validation Efficiency Scale
  21. 21. Idea checklist• Why innovative ideas?• Technical feasibility1. What is the product/service?2. Who is your market?3. How will you communicate with the market?4. How will you make money?5. How will you defend? Why you?