The document discusses what it takes to start a new venture successfully. It explains that the venture should be built around an entrepreneur's core competency and idea or concept. It also stresses the importance of sustaining risks through identifying potential risks and having a risk mitigation plan, as well as sufficient cash surplus and minimum profits. The document recommends entrepreneurs seek guidance from mentors in the initial stages for support and different perspectives to help the venture grow tangibly, and later potentially engage consultants with specific expertise to deliver tangible results. Overall success and true entrepreneurship, it conveys, involves ensuring succession by either building a sustainable business or organization that can continue without the founder.

1. What it takes to
start a venture?

2. 22
SME OneSource Collaborative Eco-system
You want to start a new
venture because-you have an
IDEA/CONCEPT ?
Or a PRESSINGNEED?

3. 33
Why New Venture?
Question yourself / others
WHY New Venture or
this IDEA/CONCEPT?

4. 44
Why new venture…?
 To fulfill the need (Self & Others) – in case of pressing need
 To make your dream come true
 To make more money
 To build business for next generation
 To sell the business for a value
 To create more jobs & livelihoods
 To contribute Country’s GDP
 To be occupied in something to kill the time
 To use your competencies to help others
 ……………………………..?????

5. 55
Venture around CORE COMPETENCY
Whatever is the objective, vision, mission, goals, etc., with
which you want to start a new venture,
Let us be honest and accept
“there is NO one size, fits all”
So, work around your CORE COMPETENCY in defining your
BUSINESS / VENTURE and stitch the idea or concept around it…

6. 66
SUSTAIN THE RISKS
Mistakes – mistakes – mistakes
How many times mistakes can happen to learn from the
MISTAKES?
Check the SUSTAINABILITYfactor
(Cash surplus & Minimum Profits to sustain)
and RISK APETITE
(Identify Risks & document Risk Mitigation plan)

7. 77
Mentor or Consultant
Mistakes of others to learn from – irrespective of whether
they are successful or not….. ?? WHO ?
Mentor or Consultant ..!!!
Only mentor with specific business
expertise can share his/her mistakes..!!

8. 88
Mentor or Consultant
Whom to look for in the initial stages of setting business?
Mentor or Consultant ..!!!
First comes - Mentor who gives a different perspective to grow
TANGIBLY!! & Mentors supports emotionally (family, friends,
colleagues, etc.,)
Next comes - Consultant “who asks to be paid is not a mentor”
So ---- define tangible results to be delivered, if you engage a
consultant with specific expertise..

9. 99
Mentor - Mentee
Mentor – Mentee …!!
The mentor-mentee relationship isn’t
just great for building confidence and
learning more about your venture, but is
a relationship you can hopefully
capitalize on to help you TANGIBLY
GROW your own business.

10. 1010
Dream Venture to Reality
6 Key Ingredients of successful business to support your
CORE COMPETENCY
(to produce or create or service) and make your
DREAM VENTURE
A REALITY

11. 1111
ASK – ALWAYS SEEK KNOWLEDGE
ASK FOR WHAT YOU WANT – Always Seek KNOWLEDGE
with your MENTOR
Knowledge about what?
 Business & Regulatory requirements
 TECHNOLOGY requirements
 PROFESSIONAL Services (Regulatory, Business Process, etc.,)
 Sales & Marketing (competition, opportunities & markets)
 Finance & Funding (source of funds and type of funds)
 Human Resource (planning, skills, retention & SUCCESSION)

12. 1212
Entrepreneurship – To be True and Successful
Entrepreneur must carry the BATON to ensure SUCCESSION
Whether you BUILD “A” BUSINESS
Or BUILD “AN” ORGANIZATION
What is TRUE ENTREPRENEURSHIP ??
When an Entrepreneur is said to be SUCCESSFUL??

13. Entrepreneurship is the
JOURNEY..that never stops…
Write to us at
knowmore@smeonesource.com
for on-going mentoring