New venture management refers to undertaking the risks involved in experimenting with new business opportunities, such as launching an entirely new product or service. The basic goal is to look beyond existing business conditions in a market by testing new ideas and actions to promote entrepreneurial growth. Some key steps in new venture management include developing goals, defining a target market segment, creating a marketing plan, writing a business plan, determining financing needs, and managing the business to achieve objectives. Common challenges are risks related to growth, technology, market competition, financing, and management teams. However, new venture management also fosters entrepreneur creativity and contributes to economic and job growth.

1. ENTREPRENEURSHIP
AND PROJECT
MANAGEMENT
NEW VENTURE
MANAGEMENT
PRESENTED BY
M.BHARATHI

2. CONTENTS
what is new venture management?
steps for new venture management
Challenges occurred in new venture
management
conclusion

3. NEW VENTURE MANAGEMENT
• Venture management is an innovative and
challenging business practice, referring to the
undertaking of the risk that is involved in
experimenting with new business opportunities. It
generally involves launching an entirely new
business product, service, or practice. Venture
management might also focus on introducing
some innovation in existing products or practices.

4. The basic motive behind any venture
management program is to look beyond the
existing business uncertainty in a particular
market. This is typically done by
experimenting with new ideas and business
actions. The primary aim is then to enhance
entrepreneurial activity by exploiting new
areas of growth.
AIM OF NEW VENTURE
MANAGEMENT

5. BEFORE STARTING OF NEW VENTURE WE SHOULD
KNOW CERTAIN THINGS
What is the nature of your new product or service?
How do you know there is a need for your new product or
service?
Who are your competitors? What makes your new
product/service any different or more needed by customers?
What is the basic purpose of your organization? (This is your
mission statement.)
What type of organization will your new organization be? For-
profit? Nonprofit?

6.  What will be the legal description of your
organization?
 What will you name your new organization, or new
product/services?
 Might you carry out your organization primarily over
the Internet? Might you carry out your organization
primarily by working from home?
 Do you have an overall approach for how you will
organize your organization?

7.  How can you minimize the likelihood of employee
litigation against you?
 What can go wrong that would really hurt you and
the new organization?
 What insurance coverage do you need?
 What is the basic purpose of your organization? (This
is your mission statement.)

8. STEPS FOR NEW VENTURE MANAGEMENT
1. Develop your personal and company goals
2. Define a viable market segment for your
product or service.
3. Develop your marketing plan.
4. Write your initial version of the business plan
5. Determine your financing needs.

9. 6. Form your key teams: founders, management, and
directors.
7. Finalize your financing needs and create your formal
business plan.
8. Develop a marketing strategy to obtain financing for your
company
9. Market your plan successfully, attracting capital on your
terms.
10. Market your product/service and manage your business to
achieve your goals

10. CHALLENGES
1. Growth risk
2. Technology and production risk
3. Marketability and compete risk
4. Financial risk
5. Team and management risk

11. CONCLUSION
Even though there exist challenges regarding
new venture management , it always try to
brings the creativity of an entrepreneur as well
as it helps to increase the employment and
economic conditions of the country