iit karagpur entrepreneurship awareness drive - by shakir ali founder & ceo of e-merchant...
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IIT Karagpur, Entrepreneurship Awareness Drive - By Shakir Ali Founder & CEO of e-Merchant Digital Hyderabad. It encourages students to opt for entrepreneurship over job. start ups, young entrepreneurs.TRANSCRIPT
Everyone in the world has at least one talent, one passion, one hobby that can become profitable if they used correctly.
Entrepreneur
An entrepreneur is an individual who organizes and operates a business or businesses, taking on financial risk to do so. Risk Taking Ability
Capacity to Develop, Organize and Manage Business with its Risks to Make Profit
Entrepreneur
Entrepreneur Qualities
Dreamer Inner Drive to Succeed Innovator Ability to Organize Passionate Risk Taker Decision Making Continuous Learner & Openness to
Change Negotiation Skills Strong Belief in Themselves
Traditional Start-Up Model
Post- StartPre-Start
Startup Lifecycle
GREATER SIGNIFICANCE AT GLOBALLEVEL UNDER CHANGING ECONOMIC SCENARIO.
BE A PRIME MOVER.
Challenges and Opportunities
Indian Specific EntrepreneurChallenges
• Family Challenge
• Social Challenges
• Technological Challenges
• Financial Challenges
• Policy Challenges
So what makes for a successful start-up?
What is a start up?
Startup = Experiment
Money is a renewable resource. Time is not !
Fresh Ideas
"Alone one cannot do much, but together we can bring big
change into this world"
“Bring Like Minded People on Board”
Add flavor to Fresh ideas with
...market research
&
Business Plan
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)
Barriers to Startups Financing Hurdles• Lack of seed funds /early stage
funds Lack Management Education Lack of skilled manpower Cultural factors• Lack of status• Lack of steady income• Peer Pressure• Relatives/ Parental pressure
Easy Life in Multinationals Lack of Awareness Regulatory Framework
Why do Entrepreneurs Fail ?
Wrong Motivation
Poor Management
No Mentorship and Lack of
Experience
Failure to Change with the Times
Inadequate Goal-Setting
Starting up has nothing to do with age. Internet and mobile allow young blood to take entrepreneurship
as these domains are less capital prone
The Indian startup space has gained momentum over the years and various factors like
•an opening up mindset•support structures coming up •and funds being poured in
have been helpful.
Entrepreneurship Statistics
30% of students enrolled in these top entrepreneurship programs have started a business.
23% of students who started are still in business.
“66% of job growth comes from small business.”
“90% of innovation comes from small business.”
General Advice
Be passionate!
Reject Negativity
Always Strive for Improvement
Challenge yourself.
Have a balance.
Is in your Hand
“The purpose of a good education isn’t actually what you’ve learned”.
BUT….
How & What you can CONTRIBUTE from your learning
On Indian Internet Opportunity
Internet penetration is only 10% in the country till now. When 800 million people start using internet that is the opportunity.
There is a good chance for startups in India. In fact, 40 per cent of the startups in Silicon Valley are (run by) Indian entrepreneurs.
Internet as One of Life's Fundamental Resources
AirWaterInternet
One of every three college students and employees surveyed globally (33%) believes the Internet is a fundamental resource for the human race
Internet
Digital Media helps you for new Business Startups
..the Internet has turned what used to be a controlled, one-way message into a real-time dialogue with millions.
Set your Website Goal
A website without a goal is like a ship without a rudder
Don’t try and appeal to everyone
You will only dilute you Impact
Increasingly, the mass marketing is turning into a mass of niches
How E-Merchant Digital Will Help SMEs and
Entrepreneurs ??
Increasingly, the mass marketing is turning into a mass of niches
The Business
There’s No Finish Line
Launching is not the end … it’s only the beginning. Now you have to build a business!
“If you leave and everything stops, you don’t have a business, you have a job.”
You need to be systematic in replacing yourself while still ensuring that everything keeps moving.
Stay Focused
Focus on your users Marketing to new users Improving the product for current users Providing great support for current users
Focus on revenue and numbers Accounting should be solid, watch out for cash flow! Make sure you have an instinctive feel for what actions Correlate with what numerical results
Continuously Improve
If you stand still, your competitors will pass you by
There is a never ending list of improvements and fixes and upgrades you can make. Be prepared for this
Improving isn’t always ‘adding’, sometimes it’s removing stuff or streamlining
Sometimes we still needJugaad Technology
Keep Things in your Control otherwise….
Getting $$$ is not easy
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