Entrepreneurship

“Innovator, risk-taker, decision makers, people with vision”

“If you cannot find it, make it.”

Is there an entrepreneur within you ?

Occupational Basis

•Sell the skills as a labor

•Be self-employed

•Be an entrepreneur

• A fourth Option ?

Different definition of Entrepreneurship

• Economic Definition – Value Addition

• Psychological definition – Striving to achieve something – extra-ordinary drive and determination.

• Social definition – Orientation to contribute to nation-building and building of society

• Management definition – person with vision and mission

5 Ds and One Large D

• Desire

• Discipline

• Determination

• Dedication

• Devotion

DIGNITY & STATUS

Creative Process2. Preparation

Or

Conscious Search for Knowledge

3. Incubation

Or

Sub-conscious Assimilation of

Information

4. Illumination

Recognition of Idea as being

feasible

5. Verification

& Validation

Or

Test to Prove that the idea has a value

1. Idea Germination

PRODUCTION

Value addition chain

Bread delivered to Customers

Flour converted to Bread

Grain converted to flower

Grain in warehouse

Grain in

field

Intrapreneurship

• You can simple sell your labour

• Or you can become an “Intrapreneur”

Behaving like an Entrepreneur while working inside an organization.

“Dreamers who take on responsibility for innovation of any kind within the business. A

person who not only generates ideas, but also takes the responsibility of turning the idea

into profitable finished products or services, given the resources from the organization.”

Most Important Attribute for an Intrapreneur

• Think “Outside the Box”

• Impress the Entrepreneur

• Subject Knowledge

• Win internal resources

• Secure external resource

• Leverage Brand Value

• Be ready to “spin-off”

Choosing of business model

• Hardware Primary, Software Secondary.

• Improve Software and Give it its rightful place.

• Open General License for Software.

• Basic version free, pay for the advanced version.

• Advanced Version free, but time delimited.

• Software on cloud, use for free, pay only for additional features

• Software on cloud, pay as you use, SAS model.

Redesign the Business

• Cloud based Education

• Courier Business as part of Postal Business

• Take tourists in a Fighter Jet

• Mix ethanol in automobile fuel

• Do fraking to extract more oil

• Outsource labor-oriented operation to low cost location

• Buy a brand and kill it/

• Creatively destroy existing product / service

• Aggregate Common services of many companies under one entity, for example, TV Towers

Segregation between Ownership and Management• Person Oriented Companies

• Family Oriented Companies

• Institutionally owned Companies

• Public Oriented Companies

• Venture Capitalists Owned Companies

“Is Management the new labour? “

Porter’s 5 Force Model

BCG Matrix

“This is a great time to start a Start Up in India.”

Situation Analysis

You have started a new company, only 15 months old. You have 50employees working with you. You own 100% of the company. You havebagged some customers, and yours is a high tech product just gettingacceptance in the market. You had 30 days production cost as bankborrowing .

Because of delay in payment from customers you are left only with 15days cash. Yt ou are looking for cash in the market. One of your buyershave told you that he is ready to buy your plant ( after retrenchingemployees by you ) at 50% of your costs.

As an enterprenuer, what are your options to get out of thissituation? Your personal assets are already mortgaged with bank forloans taken to set up the Plant.