Entrepreneurship And Start Up

Problem Identification of Entrepreneurial Opportunities

An entrepreneur is always aware of the changes in the market or business, reacts to them,
and seizes an opportunity. An entrepreneur has a passion, determination, pressure handling
ability, and is innovative. Determining a consumer’s key concerns is the first stage in
producing a new product for entrepreneurs.

What is an Entrepreneurial Opportunity?

• The concept of a company should be unique; it should help the business to survive.
• Moreover, we need more than just a concept to establish a business.
• Most young businesses begin by identifying and clearly describing
an entrepreneurial opportunity and then attempt to craft a strong vision after
recognising the existence of the opportunity.
• Opportunities are perishable; they require work and must create some customer value.
• The point at which recognised consumer demands meet the practicality of delivering
the demanded services or products are entrepreneurial opportunities.

What is Problem Identification?

• Problem identification is a fundamental way of identifying the problem at hand so that
we can comprehend the objective that we are trying to achieve or the issue we are
trying to address. Problem identification allows us to go to the source of the issue,
learn how it affects us or others, and develop a viable solution.
• Sometimes, deep research and development can identify problems, whereas problems
can be identified by chance at other times.
• The process of problem identification should help in clearly stating the problem. It
should also help identify the target group of people facing this problem.

Importance of Problem Identification

• Problems arise from time to time, and the client expects an immediate solution. The
entrepreneur solves the problem by introducing new items or services. The
entrepreneur is usually the one who recognises the issues.
• Learning the concept of problem identification is crucial for all entrepreneurs since
without identifying a practical problem, no effective product can be produced.

Some reasons which define the importance of problem identification are as follows:
1. The entrepreneur can use problem identification to identify the market’s needs and
challenges and introduce new products.
2. Problem identification helps in developing creative abilities.
3. Once the problem is identified, it boosts the number of jobs created in the economy.
4. An increase in the number of jobs leads to a boost in the country’s national revenue.

Entrepreneurial Opportunities/Idea Generation

• Every company’s idea should be established on a thorough understanding of the
market and the market’s requirements.
• Customers, or those who might desire to buy the goods or services, can be referred to
as the market. The market is different in each location. When we understand the local
market, we may notice several business opportunities that we may have previously
overlooked.

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• The first step is to generate as many ideas as possible and create a list of all potential
business prospects. Next, we can go through the list and select the idea(s) that seem
the most practical and profitable.

What is Idea Generation?

• Idea Generation can be defined as the deliberate process of generating, developing,
and transmitting abstract, tangible, or visual ideas for a problem.

• Idea generation is based on idea fields. Idea fields are the well-structured frames of
reference that guide the idea generation process.

• There are various methods for generating ideas, including polling local area
businesses or questioning current business owners. We will look at a few different
techniques that help in Idea generation
.
Getting Ideas from the experience of already successful entrepreneurs:
• Whenever a person needs an idea for their business, they should always look for
someone who has already gone through establishing a successful business.

• There are always many questions in the entrepreneur’s mind, and they should make
sure they get their answers from successful business owners.

• These questions can be regarding the kind of idea that these businesses initially
invested in, from where they got those ideas, how they found the profitability of the
ideas, and how they developed those ideas into businesses.

Drawing from personal experiences:

• Examine your list of interests, experiences, and connections. Is there anything you can
learn from your prior experiences and use to start a business? Examine each of your
experiences like a customer in a marketplace.

• Have you ever spent an entire day looking for something you could not locate in any
store in your area? Consider the items and services you have always wanted that are
difficult to obtain. If many people require that item or service, that can be
an entrepreneurial opportunity.

Opportunity Screening:
• Opportunity screening in entrepreneurship is an essential technique.
• In this technique, we can utilise our business environment screening skills to develop
new business concepts in our locality.
• Take a look at the list of local businesses in your locality that already exist.
• Opportunity screening in entrepreneurship is an attempt to comprehend and analyse
which of the existing markets can offer the best entry chances and whether or not
those identified entrepreneurial opportunities are viable in the long run.

Consider all the resources and establishments in your area while brainstorming startup
ideas. You should consider the following factors:
• Availability of natural resources
• Availability of talented and skilled labour

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• Import substitution
• Trade fairs and exhibitions

Brainstorming
• Brainstorming is an organised constructive interaction in which a group of people get
together to develop a variety of unique business ideas to address requirements or
solve some problems.
• They begin with a phrase or a subject and then note down everything that immediately
springs to mind about that topic, even if it seems irrelevant or strange.
• Good ideas might emerge from concepts that may seem strange at first.
• Brainstorming is most effective when done in a group.
• Even after establishing a successful business, most big companies generate business
ideas for intrapreneurial and entrepreneurial opportunities through brainstorming.

Conclusion
• Every opportunity that can be converted into a business is known as an
entrepreneurial opportunity.
• Identifying ideas and converting them into opportunities is a long but required
process.
• No successful entrepreneur can skip this step if they want to exist in the market for
long.
• They need to undertake different techniques such as screening of opportunities, or
they can generate business ideas for intrapreneurial and entrepreneurial opportunities
through brainstorming sessions.

Business Plan Visualization and Achieving your Business Goals

Success begins in creating an effective plan to reach goals. Our goals could be aiming for a
promotion, doubling our business revenue, losing weight, or quitting a bad habit. Our vision
and goals give us purpose and guidance.

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Step 1: Understand the core business elements:

Focusing on each business element is important if you’re aiming for permanent, lasting
improvements that help reach your goals.
Here are the elements and why they’re important:
• Time and Energy Management: Managing your time and energy well lets you
accomplish more in a short period of time, and that will lead to having more free time
which allows you to focus on other important goals.
• Business Management: The purpose of effective business management is to assist
business leaders with decision making. Business management is all about being able
to lead your brand closer to your goals
• Talent Development: Developing talent provides the skills and opportunity to
improve your business competencies and scalability.
• Technology Utilization: In the present age, the utilization of technology is important
to be a step ahead. Make an effort to learn new applications and tools; doing this will
do wonders for you and your brand.
• Productive Collaboration: Collaboration enables team members to share knowledge
and be more productive and efficient. Plus, teamwork promotes positive company
culture, which leads to a better overall performance
• Business Finance: Every entrepreneur knows the importance of investing and
spending wisely. The importance of business finance depends on its capability to
maintain business operations without spending too much while also securing funds for
future investments.
• Client Clarity and Experience: Clarity provides various experiences for your
clients, including a pleasant, low-effort interaction for your prospective and active
clients. This is vital because 94% of customers who experienced low-effort
interactions will most likely engage the services of that same business again.
• Marketing: The goal of every entrepreneur is to earn money, and marketing is an
important channel to make it happen. It helps businesses sell products or services.
Marketing is what drives sales.
• Business Development: Business development improves sales, helps a brand expand
through raving fan connections, and promotes your value one conversation at a time.

Step 2: Ask “what can I IDEOS to improve the business”:

• So, what in the world is IDEOS and why is it important to your business?
• IDEOS used when assessing each area of a business.When you ask yourself “what
can I IDEOS?”you will uncover time, money, and energy drags.
• Through collaborative discussions with your team, you will devise ideas to eliminate
the drags and allow your team and business to rise up and grow.
• And the bonus is this will help you adopt a habit of always thinking of new ideas to
boost the business.

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Step 3: Document each idea into an online white board:

• As soon as you take note of your ideas, your brain tends to take it more seriously.
• We all have bright ideas, but how often do we forget them before we can take
productive actions?
• A vital step in between having great ideas and doing the necessary actions is by taking
the needed steps from inside your head to the outside.
• One practice you can do is to document them in a notebook or an online white board,
that turns it from subjective to objective.

Step 4: Prioritize the ideas and assign a leader to each:

• After recording your ideas, the next step is to implement a plan to turn these ideas into
productive actions, which will provide the best results.
• Assign a manager or a leader for each of them so you can get the assistance you need
to create positive outcomes from your ideas.
• Ask these leaders for updates and feedback on what else can be done to improve the
workflow.

Step 5: Go!
• Just go for it! If you know you have the right improvement plan for your brand, don’t
hesitate to act.
• Your visions and ideas won’t mean anything if you don’t do anything with them.
Implement the best plan, take calculated actions, and always be open to making any
adjustments.

Industry 4.0

Industry 4.0 is the integration of data, artificial intelligence, machinery and

communication to create an efficient industrial ecosystem that is not just automated but
intelligent.

• Industry 4.0 is the realization of the digital transformation of the field, delivering real-
time decision making, enhanced productivity, flexibility and agility.

• Manufacturers are integrating new technologies, including Internet of Things (IoT),

cloud computing and analytics, and AI and machine learning into their production
facilities and throughout their operations.

• These smart factories are equipped with advanced sensors, embedded software and
robotics that collect and analyze data and allow for better decision making.

• This digital technologies lead to increased automation, predictive maintenance, self-

optimization of process improvements and, above all, a new level of efficiencies and
responsiveness to customers not previously possible.

• Using high-tech IoT devices in smart factories leads to higher productivity and
improved quality.

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• Replacing manual inspection business models with AI-powered visual insights

reduces manufacturing errors and saves money and time.

• With minimal investment, quality control personnel can set up a smartphone

connected to the cloud to monitor manufacturing processes from virtually anywhere.

• Industry 4.0 concepts and technologies can be applied across all types of industrial
companies, including discrete and process manufacturing, as well as oil and gas,
mining and other industrial segments.

The Nine Pillars of Industry 4.0

1. Internet of Things (IoT)
2. Big Data and Analytics
3. Artificial Intelligence (AI) and Machine Learning
4. Cyber-Physical Systems (CPS)
5. Additive Manufacturing (3D Printing)
6. Augmented Reality (AR) and Virtual Reality (VR)
7. Cloud Computing
8. Robotics and Automation
9. Digital Twin

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Predictive maintenance can be carried out based on the data collected. This is cost-efficient
and safer than the conventional routine maintenance method.

Simulation

• In Industry 4.0, it can be used to simulate a virtual environment of the factory itself
with the real time data and analyze the productivity before a change in the factory can
be made.
• This helps engineers to visualize the design in a much better manner consequently
helping them identify problems and obstacles in the early stage.

Horizontal and Vertical Integration

• Horizontal integration takes networking among the cyber-physical systems and

enterprise systems to an unprecedented level.
• Every device and system at the same level of manufacturing in the same facility or the
other is connected with each other.
• As this enables communication between systems in different facilities, jobs can be
planned and adjusted by the machines themselves.
• Downtime at a facility can be compensated by overtime at another facility with no
human intervention whatsoever.

Industrial Internet of Things

• An ecosystem in which all the sensors and actuators with the ability to function
separately and communicate with every other element is called IOT.
• Industrial IOT is the same but with increased ruggedness to survive the harsh
environments of the industry.

Autonomous Robots

• Autonomous robots transfer raw materials, half-finished and completed goods in an

easier, faster and smarter way.
• They operate based on a complex logic algorithm, meaning they don’t require any
preset path to carry out their duties.

The Cloud

• Cloud is a remote system that can be accessed provided from anywhere using the
internet.
• Communication among machines themselves and between machines and humans are
hugely backed by cloud services.

Cyber Security in Industry 4.0

Safeguarding the data and performance of the server is the sole purpose of cybersecurity.

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Augmented Reality

• Today remote repair instructions can be sent to literally any part of the earth with
internet accessibility.
• It helps technicians to enhance their skills by practicing high end repairs and
maintenance over and over again using augmented reality.

Consider for example, we have an equipment worth of some million dollars needing some
form of maintenance. Before carrying out the job on the actual equipment, a training session
can be conducted. Once the technician is confident enough to be impeccable, he can do the
same with the actual equipment. It is a win-win situation. We don’t lose our equipment;
Technician does not get embarrassed messing up the job.

Additive Manufacturing and 3D Printing

• Companies are already using additive manufacturing techniques like 3D-printing to

make prototypes and Proof of concepts.
• The flexibility of Industry 4.0 allows us to design complex designs which are nearly
impossible with conventional manufacturing processes.

What is dark manufacturing?

Lights-out manufacturing sometimes also called the dark factory, or dark manufacturing
refers to the idea of fully automated production without the on-site presence or intervention
of human workers, with the name derived from the assumption that automated equipment
does not need the lights on in order to operate.

Illustrate Technology based Products/Services

There are numerous technology-based business ideas that you can consider, including:

1. Mobile app development: With the increasing usage of smartphones, there's a high
demand for innovative and user-friendly mobile apps.

2. E-commerce platform: You can build an online store to sell products and services, or
create a marketplace platform to allow others to sell their products.

3. SaaS (Software as a Service) products: You can create and offer cloud-based
software solutions for various purposes such as project management, customer
relationship management, accounting, or any other business needs.

4. Artificial Intelligence (AI) solutions: You can develop AI-based solutions for
businesses that need data analysis, automation, or customer service.

5. Virtual reality (VR) and Augmented reality (AR): You can create VR or AR-based
applications for entertainment, education, or training purposes.

6. Blockchain-based solutions: You can develop blockchain-based solutions for data

security, supply chain management, or financial transactions.

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7. Internet of Things (IoT): You can create IoT-based solutions for home automation,
health monitoring, or industrial automation.

8. Cybersecurity solutions: You can offer cybersecurity solutions to protect businesses

and individuals from cyber threats.

Explain Social Entrepreneurial Initiative

The process of social entrepreneurship initiative development covers several stages: context,
processes and results.

• Social Entrepreneurs are individuals who are willing to create positive changes in
society through their innovative ideas and efforts.

• They run their business or organization to achieve their goals by helping society.
Their motto to start a business venture is primarily to help society and have no great
intention of making personal profits.

• Their success is not always measured in terms of profit alone. A small change in the
society out of their efforts is a success too.

Design Thinking

The process of redefining problems, understanding the challenges faced by users, and coming
up with an innovative solution is known as design thinking.

• Through the design thinking process, we first work on breaking down the business
problem into smaller aspects and then start thinking from the base level to come up
with various solutions.

• Solutions are compared with each other, and depending on the situation, the most
suitable solution is selected.

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Why do entrepreneurs need design thinking?

A majority of the entrepreneurs that get effective growth have added innovation in their
businesses.

1.Long-term strategy planning:

• Problems such as poverty eradication, sustainability, healthcare, and education are

examples of wicked problems.

• As an entrepreneur, it is important as part of your long term planning and business

strategy to consider these aspects as well.

• In the design thinking process, we often ask questions about how one might be able to
solve these problems in the future.

• It encourages innovation and helps in the ideation session.

• Taking out time to set goals and how to overcome any shortcomings is key to
becoming a successful entrepreneur.

2.Allows divergent thinking:

Incorporating a design thinking process can help you track and measure your progress and
outcomes. It also allows you to evaluate feedback from various entrepreneurial activities.

3.Incorporate a process model:

• Design thinking follows an approach that allows divergent and convergent thinking.
• This is typically associated with imaginative thinking, originality, curiosity, and
exploring various possible outcomes.
• Convergent thinking revolves around bringing these ideas together to come up with a
single solution.

4.Be curious and observe:

• Design thinking is all about observation.

• Being curious as to how things are, why they are a certain way, and trying to come up
with solutions to this curiosity is what makes you as an entrepreneur very unique.
• It will eventually build empathy in you and that is one of the key aspects of design
thinking.

What Is a Target Audience?

Your target audience refers to the specific group of consumers most likely to want your
product or service, and therefore, the group of people who should see your ad campaigns.

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Target audience may be dictated by age, gender, income, location, interests or a myriad of
other factors.

The Benefits of Knowing Your Target Audience

• This information will define every marketing plan and strategy you execute.
• Airing an ad might seem like a great way to be seen by as many people as possible,
but it is also expensive.
• Knowing that your target audience reads a certain publication or watches a certain
show means that your ad will be seen by fewer people, but the right people
• For example if you sell running shoes, ads in running magazines may be a better fit
for your target audience. Selecting the right media is essential for achieving marketing
ROI on your efforts.(ROI means Return on Investment (ROI) A calculation of the
monetary value of an investment versus its cost.)
• In addition to increasing ROI, understanding your target market allows you to build
relationships and better communicate with consumers.
• You can develop creative that speaks to specific personas, and develop brands that
coincide with the interests and values of those most likely to purchase the product.
• This is especially important at a time where consumers expect every ad to be
personalized and highly targeted.
• In fact, 80 percent of consumers say they are more likely to do business with a brand
that offers personalized interactions.

What Are the Types of Target Audiences?

Target audiences can be segmented further into categories that reference, intent, location,
interests, and more.

Interest:

• Separate groups out based on their various interests, including hobbies and
entertainment preferences.
• This can help you make data-driven, highly personalized messaging that allows you to
connect with your audience in meaningful ways that can help drive brand loyalty.

Purchase Intention:

• Define groups of people who are looking for a specific product, such as a new
entertainment system or car. This will help you understand your audience’s pain
points so you can create tailored messaging that addresses their needs.

Subcultures:

• Subcultures refer to groups of people who share a common experience, such as music
genres or entertainment fandoms.
• By understanding some of your target audience’s motivations, you can better
understand who you’re trying to connect with.

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The Difference Between Target Audience and Target Market

• A target market is the set of consumers that a company plans to sell to or reach with
marketing activities.
• A target audience is the group or segment within that target market that is being
served advertisements.
• This makes the target audience a more specific subset of a target market.

7Ways to Determine Your Target Audience

1.Analyze Your Customer Base and Carry Out Client Interviews

• One of the best ways to determine who your target audience is to look at who already
buys your product or service.
• How old are they, where do they live, what are their interests? A good way to learn
this is through engaging on social or distributing customer surveys.

2. Conduct Market Research and Identify Industry Trends

• Look at the market research for your industry to determine where there are holes in
service that your product can fill.
• Look at trends for similar products to see where they are focusing efforts, then hone in
further on your products unique value.

3. Analyze Competitors

• Marketers can learn a lot by looking at competitors to see who they are commonly
selling to, and how they go about it.
• Are they using online or offline channels?
• Are they focusing on the decision maker or the supporter?

4. Create Personas

• Creating personas is a great way to drill down into the specific segments that make up
your target audience.
• Personas allow you to determine the general demographics, personalities and needs of
your target consumers.
• Personas are created based on data, surveys, digital engagements and any other
information marketers can pull from to give a more complete view of the buyers.
• This might include favorite hobbies, television shows, publications, etc.
• It is recommended that marketers develop between three and five personas.

5. Define Who Your Target Audience Isn’t

• There will certainly be consumers who are close to your target demographic, but who
will not act on messaging.
• Try to be specific in determining who your audience is and who it isn’t.

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6.Continuously Revise

• As you gather more data and interact with customers, you will get an increasingly
accurate understanding of your target audiences.
• Based on this information, you must constantly optimize and hone personas to
achieve the best results.

7. Use Google Analytics

• Google Analytics offers extensive data about the users visiting your site.
• This information can be leveraged to determine key insights such as what channels
your target audience is coming from or what type of content they’re engaging and
connecting with the most, allowing you to make more data-driven decisions during
the media planning process.

Disadvantages of Target Audiences

• Although target audiences are a great tool, marketers should remember that additional
opportunities may exist in the marketplace.
• If bands need to reposition themselves, they may better connect with a different
demographic.
• There may also be use cases for products that haven’t been considered.
• Combining target audiences with analytics tools can help identify some of these
missed opportunities to further capitalize on them.
•
Problem Identification

1.Observation:

• Observe your surroundings, daily activities, or work processes.

• Look for inefficiencies, pain points, or areas that could be improved.

2.Feedback:

• Seek feedback from users, customers, or stakeholders.

• Analyze complaints, suggestions, and comments for potential problems.

3.Data Analysis:

• Analyze data and metrics related to your field or industry.

• Identify patterns or trends that may indicate underlying issues.

4.Brainstorming Sessions:

• Conduct brainstorming sessions with a diverse group of people.

• Encourage open discussion to uncover problems and challenges.

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5.SWOT Analysis:

• Evaluate strengths, weaknesses, opportunities, and threats.

• Weaknesses and threats often highlight potential problems.

6.Market Research:

• Stay informed about industry trends and changes.

• Identify emerging issues or unmet needs in the market.

7.Role Playing:

• Imagine yourself in different roles related to the problem.

• Consider how someone else might approach the issue.

8.Cross-Industry Inspiration:

• Look at solutions from other industries.

• Consider how those solutions could be applied to your problem.

9.Crowdsourcing:

• Seek ideas from a broader audience through surveys or online platforms.

• Leverage the collective intelligence of diverse individuals.

10.Random Stimulus:

• Build a simple prototype to explore and refine your ideas.

• It can help you visualize and test concepts quickly.

Visualizing and Implementing Business

• Define Your Vision and Mission
• Market Research
• Business Model Canvas
• SWOT Analysis
• Create a Business Plan
• Financial Planning
• Build a Team
• Develop a Brand Identity
• Set Up Operations
• Marketing and Sales
• Customer Relationship Management
• Monitor and Evaluate
• Adapt and Innovate
• Legal and Regulatory Compliance
• Scale and Expand

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• Risk Management
• Sustainability and Corporate Social Responsibility
• Feedback and Continuous Improvement
• Network and Partnerships
• Celebrate Achievements

Dark Factory
A dark factory is a fully automated industrial production site that requires little to no human
intervention.
The term "Dark factory"comes from the fact that these facilities can operate without heat,
light, or other environmental needs.

Mahatma Gandhiji’s 7 sins

1. Wealth without Work

2. Pleasure without Conscience
3. Knowledge without Character
4. Commerce without Morality
5. Science without Humanity
6. Worship without Sacrifice
7. Politics without Principle

Social / Industrial Problems

• Technology based Products and Solutions

• Campus to Company example
• Company to Company example

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Innovation in Entrepreneurship
• Ideate
• Innovate
• Incubate
• Project Identification
• Project Report
• Project Evaluation

Design Thinking
Design thinking is an iterative and human-centered problem-solving approach
• Empathize
• Define
• Ideate
• Prototype
• Test
• Launch / Implement (Iterate)

Market Study Methodologies

• Focus Groups
• Surveys
• Consumer Research &Social Media Listing
• Interviews
• Experiments and Field Trails
• Observation
• Competitive Analysis
• Public Domain Data
• Analyse Sales Data

Social Media Marketing

• Social media marketing is the use of social media platforms to connect with your
audience to build your brand, increase sales, and drive website traffic. This involves
publishing great content on your social media profiles, listening to and engaging your
followers, analyzing your results, and running social media advertisements.
• The major social media platforms (at the moment) are Facebook, Instagram, Twitter,
LinkedIn, Pinterest, YouTube, and Snapchat.

Completion Evaluation and Strategy Development

• Analyze Your Industry, Market, and Competitors

• Define a Unique Value Proposition (UVP)
• Set SMART Objectives aligned with Your UVP
• Choose Your Competitive Positioning
• Segment Your Market and Tailor Strategies
• Conduct a SWOT Analysis

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Activity Mapping

• Activity Mapping is a way to identify service coverage gaps by listing all Stakeholders
activities and locating them geographically.
• A Business plan is a strategic document that outlines a company's goals, strategies, and
time frames for achieving them. It's a roadmap for business growth and a tool to secure
funding.

Risk Analysis

• Risk analysis is a process that involves identifying and analyzing potential future events
that may adversely impact a company.
• It helps companies understand what may occur, the financial implications of that event
occurring, and what steps it can take to mitigate or eliminate that risk.
• Risk analysis is made up of three components: risk assessment, risk management, and risk
communication.
• Risk assessment is the process of identifying hazards that could negatively affect an
organization's ability to conduct business.

Business Model Canvas

• A Business Model Canvas (BMC) is a singlepage template that outlines a business's goals
and objectives.
• It's a strategic management tool that can help business owners and other stakeholders
develop new business models or evaluate existing models.

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M.S.M.E.

• Ministry of Micro and Small and Medium Enterprises

• ODOI ~ One District One Idea
• Development of Innovation Clusters
• K-DISC Govt of Kerala
• OLOI ~ One Local Self Govt One Idea
• OIOP ~ One Institution One Product
• Triple Helix Model ~ Govt, Industry, Academia

Knowledge Management Model of Community Business:

• Thai OTOP Model ~ Community Led Local

• Resource Oriented Business Models
• OITA Model of Japan
• OVOP Model ~ Chinese and Vietnamese Models of
• SME’s Globalization
• OTOP ~ One Tambon One Product
• OVOP ~ One Village One Product

Types of Enterprises
Size-Based Categories:

• Small Scale Enterprises

• Medium Scale Enterprises
• Large-Scale Enterprises

Ownership-Based Categories:

• Private Enterprises
• Public Enterprises
• Cooperative Enterprises

Industry-Based Categories:

• Manufacturing Enterprises
• Service Enterprises
• Tech Enterprises

Profit Orientated Categories:

• For-Profit Enterprises
• Nonprofit Enterprises

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Ownership Structure
It refers to the proportion of ownership, control, and rights within an enterprise.
• Single Ownership (Sole Proprietorship)
• Partnership-Private Limited Companies (Ltd.)
• Limited Liability Partnership (LLP)
• Co-operatives

Capital Structure

• Share Capital ~ Debt ~ Preference Share

• Capital ~ Vendor Finance

Source of Finance

External Sources of Finance:

• Equity Financing ~ Debt Financing
• Alternative and Specialized Financing

Internal Sources of Finance:

• Retained Earnings ~ Depreciation Funds
• Working Capital ~ Sale of Assets

Company Registration
• Choose Business Structure
• Select a Unique Name
• Prepare Documents
• Obtain DIN (Director Identification Number)
• Get DSC (Digital Signature Certificate)
• Submit Application
• Receive Certificate
• Complete Post-Registration Formalities

Organization Structure of Startup

A startup's organizational structure defines how tasks are divided, grouped, and coordinated
within the company.
• Founding Team ~ Functional Departments
• Advisory Board / Board of Directors
• Teams & Roles ~ Culture & Values

Recruitment & Management of Talents for Startup

• Talent Acquisition ~ Onboarding
• Performance Management
• Retention Strategies ~ Talent Analytics

Startup Team Building

• Identify the Right Talent
• Foster collaboration
• Align with Company Vision

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Startup Job Titles and Job Roles

• Founder
• Co-founder
• CEO
• CTO
• Product Development
• Marketing
• Sales
• Operations

Start-up Organizational Structure

Founder(s) / CEO ~ Leadership Team:

In smaller startups, this might be a flat structure with the founders overseeing key functions.
As the company grows, roles may become more specialized.

Chief Operating Officer (COO):

Manages day-to-day operations.

Chief Technology Officer (CTO):

Oversees the technology and product development.

Chief Marketing Officer (CMO):

Manages marketing & branding efforts.

Chief Financial Officer (CFO):

Handles financial planning and management.

Do’s for Startups

• Prioritize Culture
• Continuous Learning
• Open Communication
• Adaptability

Don’ts for Startups

• Avoid Micromanagement
• Neglect Talent
• Overextend Resources
• Ignore Feedback

Do's for Startups

• Research: Research your market, legal requirements, and competitors.

• Have a plan: Have a clear idea of what you want to do and why.
• Create a business plan that acts as a roadmap for your business.
• Build a team: Have a partner and build your team early.

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• Focus on the problem: Identify the need that your product or service is
• trying to address.
• Use automation: Use automation and free marketing programs.
• Be clear: Be clear about your values and don't get carried away by
• positive feedback.
• Monitor progress: Monitor your cash flow and don't rely too heavily
• on a single client or income stream.

Dont's for Startups

• Don't jump on bandwagons.
• Don't get carried away by positive feedback.
• Don't underestimate the value of legal assistance.
• Don't ramp up too soon.
• Don't outsource jobs you can do yourself.
• Don't disagree with the customer.
• Don't believe that a vision alone will build your business.
• Don't disregard your customer.
• Don't fail to understand your industry

Preparation of Project Report

• (DPR - Detailed Project Report)
• Define Project Objectives
• Outline Project Scope
• Detail Methodology and Approach
• Provide Cost Estimates
• Highlight Stakeholder Involvement

Project Plan
• Establish Project Goals
• Define Tasks and Activities
• Allocate Resources and Timelines
• Identify Dependencies and Milestones
• Set Monitoring Strategies & Evaluation Mechanisms

Feasibility Analysis
• Assess Technical Feasibility
• Evaluate Economic Viability
• Analyze Legal and Regulatory Compliance
• Consider Market and Demand Analysis
• Determine Organizational Procedure Operational Feasibility

Investment Plans
• Estimate Initial Capital Requirements
• Identify Sources of Funding
• Outline Financial Projections
• Evaluate Return On Investment (ROI)
• Develop Risk Mitigation Strategies

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Procedural Requirements for Setting up SME(Small And Midsize Enterprise)

• Understand Regulatory
• Guidelines & Compliance
• Complete Necessary Documentation & Approvals
• Ensure Adherence to Local, State, & National Regulations

No Objection Certificate
• Pollution Control Board
• Submit Detailed Project
• Information & Project Plan
• Comply with Environmental
• Standards & Regulations
• Implement Pollution Control
• Measures & Technologies

Financial Organization& Finance Management

• Establish Clear Financial Goals & Strategies
• Monitor Cash Flow, Expenses, & Revenue Streams
• Seek Financial Advice & Expertise When Needed.

Funding Methods
• Available for Startups in India
• Self-Funding
• Crowd Funding
• Seed Funding
• Venture Capitals
• Angel Funding
• Personal Networks

Innovation Grants and Patent Support System by Kerala Startup Mission, Govt of
Kerala
• Avail Financial Support for
• Innovative Projects and Startups
• Access Resources and Expertise for Patent Filing and Protection
• Engage with Kerala Startup Mission's
• Network of Mentors and Industry Leaders
• Navigate The Patent Application Process with Guidance and Assistance

Virtual Startup Incubation

• Opportunities in India and Abroad e.g. VIP-WE by Startup India
• Self-Funding Access Digital
• Incubation Platforms for Startups
• Online Mentorship and Expert Guidance
• Engage in Virtual Networking Events and Pitch Sessions
• Explore Cross-Border Collaboration and Market Access

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How to Setup Business Start Operations Any Where

• Research Global Markets & Regulatory Requirements
• Leverage Digital Tools and Platforms for Remote Operations
• Build A Global Network of Partners, Suppliers, and Customers

Investor Pitch
Communication of Ideas to Potential Investors
• Craft A Compelling
• Pitch Deck and Business Plan
• Effectively Communicate Value Proposition,
• Market Potential, And Growth Strategy
• Engage Investors Through Networking
• Events, Conferences, And Meeting

Schemes by Govt Agencies

• DIC-District Industries Centre
• K-DISC-Kerala State Industrial Development Corporation
• SIDBI- Small Industries Development Bank of India
• KSIDC-Kerala State Industrial Development Corporation
• KINFRA-Kerala Industrial Infrastructure Development Corporation
• K-BIP-Kerala Bio-Industrial Park
• SFC-State Financial Corporation
• EDII-Entrepreneurship Development Institute of India

Patenting and Licenses

IPR Registry in India, International Patent
• Understand Intellectual Property Rights and Protections
• Navigate The Patent Application Processin India and Internationally
• Ensure Compliance with Licensing and Regulatory Requirements

United Nations’Sustainable Development Goals

Align Business Strategies with UN SDGs
• No Poverty
• Zero Hunger
• Good Health and Well-being
• Quality Education
• Gender Equality
• Clean Water and Sanitation
• Affordable and Clean Energy
• Decent Work and
• Economic Growth
• Industry, Innovation, and Infrastructure
• Reduced Inequality
• Sustainable Cities and Communities
• Responsible Consumption and Production
• Climate Action
• Life Below Water
• Life on Land

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• Peace, Justice, and Strong

• Institutions
• Partnerships for the Goals

Startups Addressing Global Problems

Startups around the world are actively working to address global challenges & contribute to
social & environmental impact.

• Renewable Energy: Tesla,Sunrun

• Clean Water & Sanitation: Water.org,Drinkwell
• Healthcare Access: Zipline,Matternet
• Education Technology: Khan Academy,Coursera
• Agriculture Technology: FarmLogs,AgroSmart
• Financial Inclusion: Stripe,Tala
• Climate Change Mitigation: CarbonCure,Climeworks
• Social Justice and Equality: Blendoor,Avaamo
• Waste Management: RecycleBank,Waste Ventures
• Cybersecurity: Darktrace,Cylance
• Smart Cities: Sidewalk Labs,Citymapper
• Humanitarian Aid: Field Ready,Watsi
•
Study on Startups in Kerala's

• Tech Parks and Incubators

• Cyberpark
• Technopark
• Infopark
• Connect Campus to Startup Ecosystems
• Articulate Growth Potential & Trends

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Business Model of Few Startups, Products, Founders & Organizational Structure

Business Model Analysis:

• Value Proposition
• Revenue Streams
• Customer Segments
• Channels
• Key Resources
• Activities
• Cost Structure

Product Analysis:
• Product Features
• Market Fit
• Differentiation
• Quality & Reliability

Founder Analysis:
• Background
• Experience
• Vision
• Leadership
• Roles
• Responsibilities
• Network & Connections

Organizational Structure Analysis:

• Hierarchical Structure
• Team Composition
• Culture & Values
• Decision Making Process
• Scalability & Adaptability

Strategies for Validating Idea/Product

• Novelty
• Appropriateness
• Usability
• Technology innovation
• Impact scale
• Business viability
• Clarification of stake holder
• Stake holder survey reports
• Suitability of the product
• Completion time
• Cost of the product
• Market potential
• Phase of the project

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Pitch Deck
Its a concise and compelling presentation designed to communicate key information about
your business to potential investors.
1. Introduction
• Greeting
• Company Name
• Tagline
2. Problem Statement
• Identify the Problem
• Market Size
3. Solution
• Product/Service Overview Key Features
• Processes
4. Market Opportunity
• Target Audience
• Market Trends
5. Business Model
• Revenue Streams
• Pricing Models
• Sales Channels
6. Traction and Milestones
• Key Achievements
• User Metrics
7. Market Competition
• Competitive
• Landscape
• Differentiate your Product or Service to Customers
8. Financial Projections
• Revenue Projections for the next 3-5 years
9. Funding Ask
• Specify Funding Amount
• Use of Funds
10. Team
• Team Introduction Highlight Key Members
• Emphasize Expertise and Experience
11. Investment Terms
• Valuation
• Exit Strategy for investors

Tips for a Successful Investor Pitch:

• Keep it concise and focused (10-15 minutes)
• Use Visuals (slides) - to support spoken words
• Practice - maintain a conversational tone
• Know Your Numbers - be prepared to discuss
• Be enthusiastic & passionate about your business
The goal of your investor pitch is not just to secure funding,but to build relationships with
potential investors.Tailor your pitch to your audience, and be ready to adapt based on their
interests and questions.

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Do’s to Present a Business Plan

• Understand Your Audience
• Start with a Strong Introduction
• Structure and Clarity
• Focus on Key Points
• Use Visuals Wisely
• Be Concise and Relevant
• Provide Evidence and Validation
• Address Potential Challenges and Risks

Business exit strategies:

• Business exit strategies are plans that entrepreneurs and business owners develop to
exit or leave their businesses while maximizing value & minimizing potential risks.
• Choosing the right exit strategy depends on various factors, including the owner's
goals, the nature of the business, market conditions, & overall economic climate.

Business Exit Strategies for Entrepreneurs

A startup's organizational structure defines how tasks are divided, grouped, and coordinated
within the company.
• Sale of Business
• Direct Sale
• Mergers
• Acquisitions
• Initial Public Offering (IPO)
• Management Buyout (MBO)
• Employee Stock Ownership Plan (ESOP)
• Family Succession
• Liquidation
• Franchising or Licensing
• Strategic Partnerships or Joint Ventures
• Business Spin-off
• Time-Based Exit

Key Considerations for Exit Planning:

• Timing
• Valuation
• Transition Planning
• Legal and Financial
• Advisors Process
• Stakeholder
• Communication

Describe the Policies to avoid Bankruptcy

• Financial Planning and Budgeting
• Cash Flow Management
• Debt Management
• Credit Management

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• Cost Control
• Diversification and Market Research
• Employee Training and Communication
• Regular Financial Audits

Bankruptcy
• When an organisation is unable to honour its financial obligations or make payment to
its creditors, it files for bankruptcy.
• Founder’s Do and Don’ts for Startups to Don’t Go Bankrupt

Founder’s Do's to Avoid Bankruptcy:

• Maintain Strong Financial Management
• Diversify Revenue Streams
• Manage Debt
• Prudently
• Focus on Customer Retention and Growth
• Monitor and Address
• Financial Warning Signs

Founder’s Don'ts to Avoid Bankruptcy:

• Avoid Overleveraging
• Don't Ignore
• Financial Warning Signs
• Avoid Neglecting
• Customer Relationships
• Don't Make
• Impulsive Decisions
• Avoid Procrastination and Denial

Succession Planning for Startups

• Identify Critical Roles
• Develop Talent
• Pipeline
• Establish Selection Criteria
• Engage Current Leadership
• Document
• Plans
• Prepare Successors
• Address
• Challenges
• Monitor and Evaluate
• Communicate Plans
• Integrate into Culture

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Harvesting Strategy in a Business Plan

• Sale of Business
• Initial Public Offering
• (IPO)
• Merger or Acquisition
• Secondary
• Sale
• Divestiture or Spin-off
• Licensing or Franchising
• Liquidation
• Recapitalization
• Refinancing or Debt Repayment
• Estate or Succession Planning

Succession Planning & Harvesting Strategy

Definition: Succession planning is the process of identifying and developing
internal employees to fill key roles within an organization, ensuring a smooth
transition when leaders or key personnel exit the company.

Identifying Key Positions: Determine critical roles within the organization,

such as executive leadership, that are crucial for the business's success.

Talent Development: Invest in training and developing employees who show

potential to assume key roles in the future. This may involve mentorship,
training programs, and leadership development initiatives.

Leadership Pipeline: Establish a structured leadership pipeline to identify and

groom individuals at various levels of the organization for future leadership.

Knowledge Transfer: Facilitate the transfer of knowledge and skills from

current leaders to potential successors. This may involve cross-functional
training and knowledge-sharing initiatives.

Fail Fast or Succeed (FFS) Approach

Strategy By Kerala Startup Mission
• Experiment Quickly
• Learn from Feedback
• Manage Risks
• Adapt to Changes
• Prioritize Resources
• Stay Resilient

Fundamentals of Validating Idea/Product

• Identify Target Audience
• Understand Customer Needs
• Develop a Prototype or MVP
• Gather Feedback
• Assess Market Demand
• Test and Iterate

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• Measure Interest and Engagement

• Evaluate Feasibility

Understand the Rate of Success/Failure of the Idea

• Market Research
• Customer Feedback
• Pilot Testing
• Competitive Analysis
• Financial Projections
• Risk Assessment
• Expert Consultation

Market Opportunity
• Define Target Market
• Analyze Market Size
• Identify Market Trends
• Assess Customer Needs
• Evaluate
• Competitive Landscape
• Determine Growth
• Potential
• Conduct Market Research

Scope for Commercialization

• Product/Service Viability
• Market Demand
• Competitive Advantage
• Commercialization Strategy
• Resource Allocation
• Regulatory and Compliance Considerations
• Financial Feasibility
• Stakeholder Engagement

Consultancy/Mentorship by experts of Technology

• Expertise and Experience
• Strategic
• Guidance
• Innovation and Best Practices
• Problem-Solving and Solutions
• Networking Opportunities
• Customized Approach
• Risk Management
• Skill Development

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Business and Finance

Financial Management:
• Budgeting
• Cash Flow Management
• Financial Analysis
• Risk Management

Capital Management:
• Capital Structure
• Investment Decisions
• Funding Sources

Financial Planning and Analysis:

• Strategic Planning
• Performance
• Monitoring
• Scenario Analysis

Regulatory Compliance and Reporting:

• Financial Reporting
• Tax Planning and
• Compliance

Stakeholder Engagement:
• Investor Relations
• Financial Communication

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