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Orientation To ENTREPRENEURSHIP. Yogesh Misra, Faculty of Engineering & Technology Mody Institute of Technology & Science (Deemed University) Laxmangarh [Raj.]. Contents Occupation (2) Businessman / Business vs Entrepreneur / Entrepreneurship (3) Characteristics of entrepreneur

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Orientation

To

ENTREPRENEURSHIP

Yogesh Misra, Faculty of Engineering & Technology

Mody Institute of Technology & Science (Deemed University)

Laxmangarh [Raj.]

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  • Contents

  • Occupation

  • (2) Businessman / Business vs Entrepreneur / Entrepreneurship

  • (3) Characteristics of entrepreneur

  • (4) How to start a business?

  • (5) Steps in writing a business plan

  • (6) Do,s and Don’t do’s

  • (7) Facts based on A Study by National Knowledge Commission

  • (8) Some success stories

  • (9) Some exiting careers

  • (10) Role of government

  • (11) Role of academic institutions

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A professional is person who is paid to undertake a highly skilled task. Examples : medicine, nursing, law and 

engineering 

Professional

A person in the service of another under any contract

Employee

Occupation

(An activity through which we get income to run our family)

A businessperson is someone involved in a activity for the purpose of generating revenue

Business

An entrepreneur is an owner manager of a business enterprise who makes money through innovation

Entrepreneur

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ENTREPRENEURSHIP highly skilled task. Examples : medicine, nursing, law and 

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Characteristics of entrepreneur
Characteristics of entrepreneur highly skilled task. Examples : medicine, nursing, law and 

  • Information seeking

  • Learning nature

  • Goal setting

  • Commitment to work

  • Systematic planning and monitoring

  • Moderate risk takers

    Most important : INNOVATIVE IN NATURE

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Some advantages some disadvantages
Some advantages highly skilled task. Examples : medicine, nursing, law and Some disadvantages

  • You are your own boss.

  • Enjoy the profits from your efforts

  • Sense of pride in your business.

  • Flexibility in your work schedule.

  • Will need to put in long hours.

  • Need money to start.

  • Have to keep up with

    government rules and regulations.

  • May lose money.

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WWW.PPTMART.COM highly skilled task. Examples : medicine, nursing, law and 


  • ENTREPRENEURSHIP IN INDIA highly skilled task. Examples : medicine, nursing, law and 

  • Rapid growth in past 20 years

  • Entrepreneurship Environment - Economic libralization, end of license raj and easily accessible of finance.

  • Survey by the Deloitte group - India ranks 2nd globally

  • India - Leading economies by 2050.

  • A democratic open society, a strong technology base, an increasingly youthful population (50% of India is 25 years and younger), a sizeable market of a large number of customers.

  • In this situation, India enjoys enormous potential for the creation of wealth through knowledge.

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Building a successful venture highly skilled task. Examples : medicine, nursing, law and 

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How to Start a highly skilled task. Examples : medicine, nursing, law and Business

Step 1: Get Inspired

Step 2: Do Your Research

Answer these questions in your market research :

Is there a need for your products/services?

Who needs it?

Are there other companies offering similar products/services now?

What is the competition like?

How will your business fit into the market?

Step 3: Make a Plan

“who fails to plan, plans to fail“

It gives clarity about what we want to achieve and how.

It helps in seeking financial support from an investor or financial institution

Step 4: Plan Your Finances

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How to Start a highly skilled task. Examples : medicine, nursing, law and Business

Step 5: Choose a Business Structure

Step 6: Pick and Register Your Business Name

Step 7: Get Licenses and Permits

Step 8: Set Up Your Business Location

Step 9: Choose Your Accounting System

Step 10: Promote Your Small Business

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STEPS IN WRITING A BUSINESS PLAN highly skilled task. Examples : medicine, nursing, law and 

(1) EXECUTIVE SUMMARY

(2) COMPANY DESCRIPTION

(3) PRODUCTS / SERVICES

(4) MARKET ANALYSIS

(5) MARKET STRATEGY

(6) MANAGEMENT SUMMARY

(7) FINANCIAL ANALYSIS

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(2) COMPANY DESCRIPTION highly skilled task. Examples : medicine, nursing, law and 

(The company description outlines vital details about your company, such as where you are located, how large the company is, what you do and what you hope to accomplish)

Company name (use Ministry of Corporate Affairs www.mca.gov.in)

Ownership/management team

Location

Company history

Mission statement

Products/services and target market

Objectives

Vision statement

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MISSION highly skilled task. Examples : medicine, nursing, law and 

A clear statement that represents the purpose of your company.

Why are you starting this business?

VISION

What are you creating?

What will your business look like in one year, three years, and five years?

OBJECTIVES (Set goals for the business)

Goal should be:

Specific & Measurable

With in reach

Time-based

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(3) PRODUCTS / SERVICES highly skilled task. Examples : medicine, nursing, law and 

(The products or services section of your business plan should clearly describe what products and/or services you're selling with emphasis on the value you're providing to your customers or clients)

This section can be broken down into following parts:

Brief comparison to similar products or services in the market

ii. List of your price points

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(4) MARKET ANALYSIS highly skilled task. Examples : medicine, nursing, law and 

This section should include following parts:

Industry Description :

Detailed statistics that define the industry size, growth rate and trends.

Target Market:

Who is your ideal customer? Age, gender, income level and lifestyle of target customers.

How you intend to reach the market.

Competitive Analysis:

Who is in your competition?

What are the strengths and weaknesses of the competition?

What are the potential roadblocks preventing you from entering the market?

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(5) MARKET STRATEGY : highly skilled task. Examples : medicine, nursing, law and 

(This section can be used as a blueprint for all of your marketing activities)

(I) Product:

(i) Brand name

(ii) Packaging

(iii) Quality and Warranty

(II) Promotion:

(i) Advertising and Marketing budget

(ii) Promotional strategy, Publicity and public relations

(iii) Sales force and Sales promotion

(III) Price:

(i) Pricing flexibility Pricing strategy

(ii) Retail price, Seasonal Price and Wholesale (volume) price

(IV) Place:

(i) Distribution centers and Distribution channels

(ii) Order processing and Transportation

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(6) MANAGEMENT SUMMARY highly skilled task. Examples : medicine, nursing, law and 

(This section demonstrates expertise of the team and resources behind your company)

This section should include following parts:

(I) Business Structure

(II) Management Team

(III) Other Personnel

(IV) Personnel Growth Plan  : What are the salaries of each person to be involved with the company for the next three years?

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  • (7) FINANCIAL ANALYSIS highly skilled task. Examples : medicine, nursing, law and 

  • (This section should contain the data for financing your business now, what will be needed for future growth, and an estimation of your operating expenses)

  • This section should include following parts:

  • Balance Sheet: 

  • (II) Profit and Loss Analysis

  • (III) Personnel Expense Forecast

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(1) EXECUTIVE SUMMARY highly skilled task. Examples : medicine, nursing, law and 

(The executive summary is the first section of your small business plan that is typically written last. It provides an overview of all of the other sections in the business plan)

Executive summary should highlight at least one important statement from each of the

other sections in your business plan.

II. If the reader only reads the executive summary, he or she should have a very clear

idea about your business, your goals and your strategic plan for accomplishing your

goals.

III. The executive summary should also include basic information about your business

such as your business name and location, description of your business and its

products and/or services, your management team and mission statement.

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highly skilled task. Examples : medicine, nursing, law and Enthusiasm without knowledge is not good; a person who moves too quickly may go the wrong way.”Do’s DON'TS

  • Start saving money for operating your business.

  • Learn your business by working for someone else in the same business first.

  • Consider the advantages of operating a family business.

  • measure your skills and training against potential competition.

  • Test market your product or service before starting or expanding.

  • Make "for" and "against" list describing the business you are in or considering.

  • Talk to lots of people for advice.

  • Make a comparative analysis of all opportunities you are considering.

  • Quit your job before you have completed start-up plans.

  • Consider operating a business in a field you do not enjoy.

  • Risk all the family assets. Limit your liabilities to a predetermined amount.

  • Be in a hurry to select a business.

  • Select a business that is too high a risk

  • Neglect to learn the negative aspects of an intended business.

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QUESTIONS highly skilled task. Examples : medicine, nursing, law and 

(Q) What motivates a person to become an entreprenuer?

(Q) Does motivation to become an entreprenuer is different in male and female?

(Q) Does motivation to become an entreprenuer vary with the age?

(Q) Does motivation to become an entreprenuer vary with the experience?

(Q) Which one is most suited finance option for entreprenuers?

(Q) What is the importance of education for an an entreprenuer?

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Some Facts Based on a Study highly skilled task. Examples : medicine, nursing, law and 

by

National Knowledge Commission

(2008)

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Entrepreneurship Pyramid in India highly skilled task. Examples : medicine, nursing, law and 

(in terms of sectors and numbers of people engaged)

Level 1:Agriculture and other activities: Crop production, Plantation, Forestry, Fishing, Mining, etc.

Level 2:Trading services: Wholesale and retail trade.

Level 3:Old economy or traditional sectors: Manufacturing.

Level 4:Emerging sectors :IT, Finance, Insurance and Business services, Construction, Transport-Storage-Communications etc.

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Registration of new companies according to nature of economic activity

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Motivation to become an entrepreneur economic activity

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Motivation variations according to gender
Motivation – Variations according to gender economic activity

For female entrepreneurs the most important motivating triggers are:

Independence = 25% & Identification of a marketable idea = 25%

For male entrepreneurs the most important motivating triggers are:

family background = 24% & Independence = 21%

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Motivation variations according to age
Motivation – Variations according to age economic activity

For entrepreneurs less than 35 years age the most important motivating triggers are:

Market opportunity = 27% & Independence & Family background = 22%

For entrepreneurs greater than 35 years age the most important motivating triggers are:

Independence & Family background = 23% & Idea driven = 22%

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Motivation variations according to work experience
Motivation – Variations according to work experience economic activity

  • Among those who had work experience, 53% started enterprises in fields related to those in which they had previously worked.

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Start-Up Phase Finance economic activity

An angel investor is an rich individual who provides capital for a business start-up, usually in exchange of ownership equity.

Sources of self-finance

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Bank Finance at different stages of business economic activity

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Importance of Education for Entrepreneurship economic activity

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Importance of Education for Entrepreneurship economic activity

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Importance of Education for Entrepreneurship economic activity

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Some economic activity

Innovations

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M. Nagarajan  Pradesh(Lemon cutter) Tamil Nadu

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Swayambhoo Sharma, Madanlal Kumawat, Chandan Agarwal(Modified hand pump with tap and attachment for filling animal trough) Rajasthan/Delhi

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CA Vincent  Agarwal(Floating soap) Kerala

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Brahmam, Ajmeri Agarwal (gas-operated iron)

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Remya Jose Agarwal (Washing-cum-exercise machine) Kerala

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Abhishek Bhagat Agarwal (Automatic Food Making Machine) Bihar

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Some Agarwal

Success

Stories

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Infosys Agarwal

Mr. Narayan Murthy

(1) Started in 1981 by seven people

(2) Start-up investment US$ 250

(3) 65 offices and 59 development centers in India, China, Australia, , Poland,

UK, Canada and Japan

(5) Total employees 127,779 employees as on December 31, 2010.

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Lizat Papad Agarwal

(1) The organisation started of with a sum of Rs.80.

(2) Founded by 7 sisters in Mumbai.

(3) Now 73 Branches and 27 Divisions in different states all

over India.

(4) Sales of over Rs.650 crores with exports itself exceeding

Rs. 29 crores.

(5) Over 42,000 sisters working in organisation .

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  • Dabbabala Agarwal

  • Originated by Mr. Mahadeo Havaji Bachche with about 100 men.

  • Started in 1890

  • Total area coverage: 60 Kms to 70 Kms

  • Employee Strength: 5000

  • Number of Tiffin's: 2,00,000 Tiffin Boxes i.e 4,00,000 transactions every day.

  • Time taken: 3 hrs

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Bansal Classes Pvt. Ltd. Agarwal

  • Started by Mr. V K Bansal in 1981 with one enrolled student

  • 2. Bansal Classes has produced more than 12000 IITians

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Founded By: Mr.Karsanbhai Patel Agarwal

  • Finished his B.Sc. in Chemistry at age 21 and worked

  • as a lab technician.

  • (2) In 1969 set up Nirma .

  • (3) Total employee 14,000 (in 2004).

  • (4) Turn-over Rs. 2500 crore.

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Started on 18 August, 1973 Agarwal

Mansukhbhai conceived an idea of presenting a substitute of “Pan”

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Shahnaz Husain Agarwal

(1) Started in1977 from her house.

(2) Start-up investment of Rs

35000.

(3) Presence in over 100 countries

650 salons around the world

(in 2002).

(4) Employing about 4200 people.

(5) The net worth of the Group

was $100 million.

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Kiran Mazumdar-Shaw Agarwal

  • Started M/s Biocon Ltd. in1978 from her garage.

  • (2) Start-up investment of Rs 10,000.

  • (3) 7th largest biotech employer in the world

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Subroto Roy Agarwal

(1) Founded SAHARA group 1978

started with three workers

(2) Small deposit para-banking business.

(3) Today having presence in housing,

entertainment, media and aviation.

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Ekta Kapoor Agarwal

Started her television software business at the age of 19.

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Sunil Mittal Agarwal

  • In 1970s, he set up a small bicycle

  • business in Ludhiana.

  • (2) In 1986, incorporated Bharti

  • Telecom Limited (AirTEl)

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Sabeer Bhatia Agarwal

(1) July 4, 1996, first email service by HOTMAIL.

(2) In 1997 Microsoft purchased HOTMAIL in $400million.

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Some Agarwal

Exiting

Opportunities

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Copywriters Agarwal

(1) Prepare text for advertisements, marketing brochures, press releases, TV and radio commercials, catalogs and packaging labels, etc.

(2) Writing talent.

(3) High demand, as most business owners do not possess the skills and time to prepare highly effective copy.

(4) Alliances with advertising agencies, graphic artists and public relations firms.

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Alcohol Free Club Agarwal

The benefits include:

• Less investment capital required to start and operate the business.

• Fewer government regulations, and substantially lower liability insurance premiums.

• Less competition within the industry, and a clear definition of the target market.

• Increased choices in terms of operating location.

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Health Taxi Agarwal

(1) Purchase, lease or rent a suitable mode of transportation.

(2) Contact local doctors.

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Self Defence Agarwal

  • Potential customers: Kids, students, single mothers, housewives, executives traveling overseas, government employees, celebrities, sports figures, politicians, school teachers , security guards, etc.

  • (2) Training can be conducted in a group format or on a one-on-one basis at your school location or the clients locations, including their homes, businesses, or offices.

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Stress Management Agarwal

(1) Target customers are individuals seeking to reduce or eliminate stress from their daily lives.

(2) Corporate clients.

(3) Business place – Home, rental office or client's business or home location.

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Role of Government Agarwal

(1) Information source for start-up entrepreneurs.

(2) World-class infrastructure.

(3) Public Fund for new entrepreneurs.

(4) Polices to encourage innovation among smaller

institutions and companies.

(5) Recognition and reward for Entrepreneurship.

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Role of Educational Institutions Agarwal

(Entrepreneurship is treated as an extra-curricular activity, resulting in a narrow impact on limited numbers of students)

(1) Integration of subjects on entrepreneurship in the formal education systems

(2) Case studies of real life situations in the curriculum.

(3) Linking vocational education with mainstream education.

(4) Student-led activities related to entrepreneurship in campus.

(5) Business plan contests.

(6) Industry-Institute interaction.

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Name of Institute Agarwal

Place

Activities

National Institute of Small Industry Extension and Training (NISIET)

Hyderabad

Training, research and consultancy services

Indian Institute of Entrepreneurship

Guwahati

Training, research and consultancy services

National Institute of Entrepreneurship and Small Business Development (NIESBUD)

New Delhi

Coordinating and overseeing activities of various institutes /agencies engaged in entrepreneurship development

Integrated Training Centre (Industries)

Nilokheri

Conducts EDP course

Institute for Design of Electrical Measuring Instruments (IDEMI)

Mumbai

Render services to the instrumentation industry

Central Institute of Hand Tools

Jalandhar

Aims at rapid growth of the hand tool sector

Hand Tool Design Development and Training Centre

Nagaur

Assistance for improvement in productivity, betterment in quality, high value addition

Central Tool Room

Ludhiana

Provides services in the area of consultancy, tool design and manufacture and technical training

Central Tool Room and Training Centre

Kolkata

Training, design and manufacture of complicated precision tools for the telecom industry and other common facility services

Central Institute of Tool Design (CITD)

Hyderabad

Training, CAD/CAM centre to train post-graduate trainees, automatic process control unit, and so on

Product-cum-Process Development Centre for Sports Goods

Meerut

Training, process and product development of sports goods, R & D

Product-cum-Process Development Centre for Essential Oils

Kannauj

Modernise and upgrade technology status for the essential oils and perfumery industry

Product-cum-Process Development Centre

Agra

Provide better technology to small-scale foundry and forging units, process and product development, and provision of design for melting equipment, testing facilities

Electronic Service and Training Centre

Ramnagar

Training, technical and consultancy services

Centre for the improvement of Glass industry

Firozabad

Development and adoption of new technologies and products

National Small Industries Corporation

New Delhi

Supply of machinery, marketing assistance, training

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Thanks Agarwal

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