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Want to become Enterpreneurship

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  1. 1. By An Aspiring Entrepreneur (Gaurav Manchanda) Entrepreneurship
  2. 2. ENTREPRENEURSHIP : <ul><li>“ Most of what you hear about entrepreneurship is all wrong. It’s not magic; it’s not mysterious; and it has nothing to do with genes. It’s a discipline and, like any discipline, it can be learned.” </li></ul><ul><li>Peter F. Drucker </li></ul>
  4. 4. Why Start A Business? Control Others Survey by Padgett Business Services USA Inc.
  5. 5. Types of Skills Required in Entrepreneurship Change-oriented visionary Marketing (Selling) Using Technology Innovative Interpersonal Monitoring the Environment Risk Taking Leadership Oral Communication Inner Control Planning Writing Personal Business Management Technical
  6. 6. Entrepreneur Process Diagram Motivation to make a difference Spotting & Exploiting Opportunities Finding the required resources Using networks extensively Overcoming Obstacles Controlling the Business Financial, Social, Aesthetic Capital Showing determination in the face of adversity Managing Risk
  7. 7. Entrepreneurship Process The Idea Realizing the opportunity Engaging the idea & opportunity Exploiting the opportunity to build something of value The Inventor The Opportunity Spotter The Project Champion
  8. 8. Three Aspects of Entrepreneurship <ul><li>1. The identification/recognition of market opportunity and the generation of a business idea (product or service) to address the opportunity </li></ul>
  9. 9. Three Aspects of Entrepreneurship <ul><li>2. The marshalling and commitment of resources in the face of risk to pursue the opportunity </li></ul>
  10. 10. Three Aspects of Entrepreneurship <ul><li>3. The creation of an operating business organization to implement the opportunity-motivated business idea </li></ul>
  11. 11. India's PEOPLE – ITS STRONGEST ASSET Based on IMD World Competitiveness Survey
  12. 12. A large pool of skilled people... Note: Survey results: 1=low; 10 = high Source: IMD world competitiveness Yearbook 2003 ...with high end qualifications... ...and extremely cost efficient Availability of skilled labour, 2003 Availability of qualified engineers, 2003 Total compensation for manufacturing workers, 2002
  13. 13. CONFIDENCE: INDIA INC. GOING GLOBAL Source: Literature Review Overseas Acquisitions by India Inc ($ US Million)
  14. 14. A snapshot of Indians at the helm of leading Global businesses The Co-founder of Sun Microsystems (Vinod Khosla), Creator of Pentium Chip (Vinod Dahm), Founder and creator of Hotmail (Sabeer Bhatia), Chief Executive of McKinsey & Co. (Rajat Gupta) President and CFO of Pepsi Cola (Indra Nooyi) President of United Airlines (Rono Dutta) GM of Hewlett Packard (Rajiv Gupta) President and CEO of US Airways (Rakesh Gangwal) Chief Executive of CitiBank (Victor Menezes), Chief Executives of Standard Chartered Bank (Rana Talwar) Chief Executive officer of Vodafone (Arun Sarin) President of AT & T-Bell Labs (Arun Netravali) Vice-Chairman and founder of Juniper Networks (Pradeep Sindhu) Founder of Bose Audio (Amar Bose) Founder, chip designer Cirrus Logic (Suhas Patil ) Chairman and CEO of Computer Associates (Sanjay Kumar) Head of (HPC WorldWide) of Unilever Plc . (Keki Dadiseth) Chief Executive Officer of HSBC (Aman Mehta) Director and member of Executive Board of Goldman Sachs (Girish Reddy) Chief Economist of the International Monetary Fund (Raghuram Rajan
  15. 15. Entrepreneurship <ul><li>Some advantages </li></ul><ul><ul><li>You are your own boss </li></ul></ul><ul><ul><li>Enjoy the profits from your efforts </li></ul></ul><ul><ul><li>Sense of pride in your business </li></ul></ul><ul><ul><li>Flexibility in your work schedule </li></ul></ul>
  16. 16. Entrepreneurship <ul><li>Some disadvantages </li></ul><ul><ul><li>Will need to put in long hours </li></ul></ul><ul><ul><li>Need money to start </li></ul></ul><ul><ul><li>Have to keep up with government rules and regulations </li></ul></ul><ul><ul><li>May have to mark hard decisions (hiring, firing, etc.) </li></ul></ul><ul><ul><li>May lose money </li></ul></ul>
  17. 17. Checklist for Aspiring Entrepreneurs <ul><li>Do it for passion not money </li></ul><ul><li>Do something you know about </li></ul><ul><li>Don’t give up too early </li></ul><ul><li>Have a mentor </li></ul><ul><li>Have appropriate funding </li></ul><ul><li>Be a good cash manager </li></ul><ul><li>Build sales first </li></ul><ul><li>Don’t try to rush </li></ul><ul><li>Be wary of bad advice or suppliers </li></ul>
  18. 19. Questions & Answers ???
  19. 20. <ul><li>Thank You </li></ul>