Idea, Entrepreneurship Opportunities, Business Model and Business Plan
BY Dr. Satya Ranjan Acharya Dr. Amit Kumar Dwivedi Associate Professor Associate Professor Entrepreneurship Development Institute of Entrepreneurship Development Institute of India, India, Ahmedabad, Gujarat Ahmedabad, Gujarat Agenda
● Idea ● Business Idea ● Evaluating Ideas ● Opportunities and Business Model ● Business Plan Format
A Person who have an idea and dare to start that idea
Entrepreneur
Dr. Satya R. Acharya ([email protected]) Market Driven and Technology Driven Entrepreneurship
● Market Driven : Identifies a market need and explores technology with which to exploit it. ○ known demand with technology ● Identify a technology and explore market need towards which it can be exploited . ○ Unknown demand with unknown technologies
Traditional /Market Innovation driven
Market Local or regional Global Innovation Not necessary Fundamental Ownership Familiar , little external Distributed and large external
Rate of growth Linear Exponential
Dr. Satya R. Acharya ([email protected]) Idea….. “Creative thinking inspires ideas. Ideas inspire change”
• Define the problem or opportunity • Involve the right people • Your Connection with the Problem Dr. Satya R. Acharya ([email protected]) Problems can be solved …
Italy, for thirty years under Technological the Borgias, they had Solution warfare, terror, murder, and bloodshed, but they produced Michelangelo, Idea/ Leonardo da Vinci, and the Problem Renaissance. In Switzerland, they had brotherly love, and they had 500 years of Social democracy and peace. And Solution what did that produce? The cuckoo clock……
Dr. Satya R. Acharya ([email protected]) NO Idea Looking Idea for R&D Labs Problems
Covid 19 Dhaman- Patent 1”
150 professionals from Jyoti CNC and other allied 26 Face Mask prepared by the technology companies have worked round the clock to accomplish this support from ATIRA mission of designing and developing the first prototype within Ahmedabad Textile Industry's Research Association the stipulated time frame.
Dr. Satya R. Acharya ([email protected]) 5/19/2020 8 Dr. Satya R. Acharya ([email protected]) Business Opportunities: Illness & Wellness
Healthcare Ayurveda Yoga & Meditation . Manufacturing . Production . Centres on Web- . Services Delivery . Consulting Portals . Hospitals, Clinics, . Trading . Channels Pathologies . Manufacturing . Web-Pages . Wellness Centres . Branding . Videos . e-YOGA Consulting
Dr. Amit K Dwivedi ([email protected]) Opportunities Contd: Skill & Education Skill Development E-Learning and Executive Education . Migrant Labourers MOOCS . Employees . . Un-Organised Sector . Schools Corporates . Factory Workers . Professional . Entrepreneurs . . Farmers Courses Managerial Officials . Homemakers . Higher Education . ITIs/Polytechnics . Teachers . Trainers . Consultants
Dr. Amit K Dwivedi ([email protected]) Opportunities: IT, R&D & Database Security
IT & Software Health Related Management & . IT & Software Research & Security . IT Tools for Industry Development . Office Data . IT Packages for . Virus & Bacteria Management Management . Food Habits . Work from Home . ERPs/MIS for SMEs . Data Informatics . Clients Management . Taxation and . Personalized Security and Accounting Human Data Surveillance . Forensic Security Software
Dr. Amit K Dwivedi ([email protected]) Opportunities: E-Commerce, Social Media & Video Conferencing
E-Commerce Social Media & Video . Online Food Delivery Networking Conferencing . Online Vegetable . Old Age People . Office work Delivery Networking . Classroom Teaching . E-Kirana . E-Library for . Examination . E-Medicine Elders/Children . Monitoring activities . Online Industrial . Yoga and Mediation Gods Delivery Communities . E-Transport
Dr. Amit K Dwivedi ([email protected])
Business Venture Business Idea Prototype Hackathon Pitching Idea
13 Dr. Satya R. Acharya ([email protected]) Grow Leaf - Device for localized Irrigation, Weed Control, and localized Pesticide Delivery
An agronomic device that performs localized irrigation, weed control, and localized pesticide delivery. Localized irrigation and pesticide delivery saves water and reduces pesticide use. Each sandwich structure provides water and pesticide for one or more rows of plants.
https://drive.google.com/file/d/1Uijxax9uaX0FK_Lt4Rw_ vyNRe7rXenzg/view Dr. Satya R. Acharya ([email protected]) Screening Ideas: Are they Opportunities?
1. What important customer problem can you solve? 2. How are you going to do it? 3. How many customers are there that are willing to buy from you? 4. Why can only you provide the solution? 5. How can you defend against others? Ask these questions BEFORE somebody else does!
15 Dr. Satya R. Acharya ([email protected]) Opportunities and Business Model Dr. Amit K Dwivedi ([email protected]) Business Model Canvas Copyright — Strategyzer AG, Dr. Amit K Dwivedi ([email protected]) Value Proposition Canvas Copyright — Strategyzer AG, Dr. Amit K Dwivedi ([email protected]) Business Plan Business Planning
In the end, every startup is different. But in the beginning every startup is the same.” ― Richie Norton
“Going into business without a business plan is like going on a mountain trek without a map or GPS support – you’ll eventually get lost and starve!” ― Kevin J. Donaldson
Dr. Satya R. Acharya ([email protected]) The Basics of a Business Plan
● Executive Summary ● Company Overview ● Market Environment ● Marketing and Sales Strategy ● Operations ● Financial Plan
Dr. Satya R. Acharya ([email protected]) Your Business Plan Will... ● Discuss a particular market opportunity. ● Examine the markets that you will compete in, and explain who your customers will be. ● Describe the products or services that your company will provide. ● Your competition, and how you will defend against it. ● The operation that you will put in place in your company. ● The management team that will implement the plan. ● The size and profitability of your company.
Dr. Satya R. Acharya ([email protected]) Executive Summary
The written version of the “60 second pitch.”
Many people who read your plan, will only read your Executive Summary...
...and then they may read your financials.
NOT an introduction, but a short version of the whole plan
Dr. Satya R. Acharya ([email protected]) Company Overview
Explanation of history, structure, and
organization Mission of your statement. company. Goals and objectives. Relevant skills
Context Context and expertise Values and of vision management team. Directors.
Relationships People with experts in
the field. Strategic Direction Strategic
Dr. Satya R. Acharya ([email protected])
Market Environment
• The number of •Stay up to date •Find out who are •Potential opportunities firms with changes in competitors consumer behavior •what they are •Threats • The market and priorities offering, and what share of the •Knowing who your their strengths and largest firms target audience is weaknesses are. • The nature of and what they •This will identify the need from your areas you need to costs (includin business g the potential compete in, and
•Listen and respond Competition give you a platform for firms to to changes in the for differentiating exploit Markettrends market to help you yourself. economies of save money
MarketStructure scale •Stay relevant in your target • The degree to marketplace which the
industry is Opportunities/Threats vertically integrated
Dr. Satya R. Acharya ([email protected]) Marketing and Sales Strategy
● Products or services offered. ● Follow-on products. ● Intellectual property or other defendable positions. ● Market research. ● Marketing plan. ○ Brand strategy. ○ Distribution strategy. ○ Product strategy. ○ Pricing strategy. ○ Promotion.
Dr. Satya R. Acharya ([email protected]) Operations
● Practical details required to meet the plan. ● Facilities. ● Manufacturing or out-sourcing. ● Personnel. ● Varies widely depending on type of business.
Dr. Satya R. Acharya ([email protected]) Financial Plan
Three key reports, in a five-year plan:
○ Income statement.
○ Balance sheet.
○ Statement of cash flows.
Dr. Satya R. Acharya ([email protected]) Thank You