Talk given by me to students at Sri Venkateshwara College in South Campus in New Delhi. It was the inaugural meet on entrepreneurship conducted by E Cell of the college, I was there courtesy TiE New Delhi
Entrepreneurship Opportunities In India
Lt Col Vishal Sharma (Retd)AgendaWho is an Entrepreneur?Startups v/s Multinational.Barriers to Startups in India.Why should you start on your own?DNA of a Startup GuyStarting Up from GroundAnatomy of a Business PlanStartup Ecosystem available in IndiaFunding OptionsOpportunitiesWhy do Startups Fail?
2Who is an Entrepreneur ?Wikipedia introducesEntrepreneuras a loanword from the French language that refers to a person who undertakes and operates a new venture, and assumes some accountability for the inherent risks. Being in business or being an entrepreneur is about taking risks and confronting challenges3Differences between a Big Company and a Startup Venture
ActivityBig CompanyStartupStayRadissonWith a RoommateRecruitmentMaFoi/ ABC / Word of mouth ,infecting peopleBrandingSuperBowl/ T 20Innovative StrategiesCollaborationThroughLegal DepartmentHelping others who may never help you backProcessesVery Structured and MatureOrderlyChoasLearningSpoonfedFend for yourselfCafTaj / CCDRoadside Tea StallResourcesPlentyAlways ConstrainedMarketGeneralNichePitchLong and DescriptiveShort ,to the pointBusiness PlanProbably250 pages20 pages onyour idea4Barriers to StartupsFinancing HurdlesLack of seed funds /early stage fundsLack Management EducationCultural factorsLack of statusLack of steady incomePeer PressureRelatives/ Parental pressureEasy Life in MultinationalsLack of AwarenessQuality Technical ManpowerRegulatory Framework
5Ease of Doing Business Rankings
6Source : http://www.doingbusiness.org/economyrankings/Why would you still do it?Become your own boss. Be in-charge of your destiny.Because you believe in yourself.Because you believe in the idea.Because you believe that you can change the world.(People may think you are crazy)
7This telephone has too many shortcomings to be seriously considered as a means of communication. The device is inherently of no value to us.Western Union internal memo1876
I think there is a world market for maybe five computers.Thomas WatsonChairman, IBM19438DNA of an EntrepreneurRisk TakingPassionateNatural Leader InnovativeOptimisticSelf confidentPatient but PersistentWilling to slog it out for your dreamEthicalHas a flair for Marketing
9Do you need an MBA?CEOMBASteve Jobs, AppleNoYunJong-Yong, SamsungNoAlexeyB. Miller,GazpromNoJohn T. Chambers,Cisco SystemsYesMukeshD.Ambani, RelianceNo10Source : http://hbr.org/2010/01/the-best-performing-ceos-in-the-world/sb1If top 4 of 5 CEO in the world dont need an MBA Degree to run a multi Billion dollar empire, would you need one to start a Business?Starting OutIdeaBusiness Plan Build a TeamMake the Product / Offer the servicesSales and MarketingLearn and AdaptExpansion and Growth11Business PlanExec Summary.What Product / Service?What is the Market Size?Advisors / Team?Why would your Product / Service sell?How will you tell this to the customers?How will you make money?How will you reach the customers?Funding and Financial Projection.Use of Funds.Timelines.Research Data/ Team Resume.
12EcosystemIncubation CentresIIM AhmedabadIIM BangaloreIIM LucknowIIM KozhikodeIIM CalcuttaSP Jain Institute of Management and ResearchBITS PilaniIIT KharagpurIIT MadrasTENET IIT MadrasIIT BombayIIT KanpurIIT GuwahatiIIT DelhiNirma LabsK.J. Somaiya Institute of Management Studies and Research, MumbaiThe ICFAI Center for Entrepreneurship Development, HyderabadMudra Institute of Communications, Ahmedabad (MICA)FMS DelhiEntreprenership Development Institute of India (EDI), AhmedabadCenter for Innovation, Incubation and Entrepreneurship (CIIE), IIM-AWadhwani Center for Entrepreneurial Development, HyderabadJSS InstitutionsNITIEScience and Tech Entrepreneurs Park at NIT TrichyICRISATKongu Engineering CollegeSociety for Innovation & DevelopmentTechnoparkSource: http://ecosystem.pluggd.in/index.php/incubators-in-india13Web Helphttp://www.yourstory.in/http://www.proto.in/http://www.pluggd.in/http://www.nenonline.org/http://delhi.tie.org/MagazinesDARESiliconIndiaBooksArt of StartStay Hungary Stay FoolishCrossingthe ChasmFunding OptionsRelatives / Friends/Family/ SavingsBanks Loan / DebtGovernment FundsVCs
Source:15Why do Entrepreneurs FailWrong MotivationPoor ManagementNo Mentorship and Lack of ExperienceFailure to Change with the TimesInadequate Goal-Setting