PRESENTATION-BUSINESS IDEA AND

ITS EVALUATION

PART-I ENTREPRENEURSHIP IN A

CHANGING ENVIRONMENT

TRENDS IN ECONOMIC DEVELOPMENT

IMPORTANCE OF HUMAN RESOURCES

TECHNOLOGY AS A RESOURCE

HIGH DEGREE OF COMPETITION

IMPORTANCE OF INNOVATION

GOVERNMENT AS STIMULATOR

ENTREPRENEURIAL/INTRAPRENEURIAL DEVELOPMENT

QUALITY AS A GOAL

INNOVATIVE CAPITAL FORMATION

SUPREMACY OF THE CUSTOMER

COLLABORATIVE RELATIONSHIPS-ACADEMIA/INDUSTRY

WOMEN ENTREPRENEURS

MANAGERIAL SKILLS

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WHO/WHAT IS AN ENTREPRENEUR

“AN INDIVIDUAL WHO BEARS THE RISK OF OPERATING A BUSINESS IN THE FACE OF UNCERTAINTY ABOUT FUTURE CONDITIONS”

ENCYCLOPAEDIA BRITTANICA

“AN ENTREPRENEUR IN AN ADVANCED ECONOMY IS

AN INDIVIDUAL WHO INTRODUCES SOMETHING NEW

IN THE ECONOMY- A METHOD OF PRODUCTION NOT

YET TESTED BY EXPERIENCE IN THE BRANCH OF

MANUFACTURE CONCERNED, A PRODUCT WITH

WHICH THE CONSUMERS ARE NOT FAMILIAR, A NEW

SOURCE OF RAW MATERIALS, NEW MARKETS AND

THE LIKE----TO REFORM OR REVOLUTIONIZE THE

PATTERN OF PRODUCTION BY EXPLOITING AN

INVENTION------”

JOSEPH SCHUMPETER

INNOVATION

NEW QUALITY

NEW MKTS

NEW PRODUCT

NEW SOURCE OF SUPPLY

CHANGES IN ORG

CHANGES IN MKT

CHARACTERISTICS OF AN ENTREPRENEUR

DRIVER OF CHANGE

CALCULATED RISKS

SUCCESS/FAILURE

PLANNING ACTIVITIES

IS PROGRESSIVE

NEW TECHNOLOGY FOR IMPROVEMENT

CUSTOMER NEEDS

CREATING VALUE

OPPORTUNITIES

MGT AND ADMIN

TODAY ENTREPRNEUR-------

PERCEIVES OPPORTUNITIES FOR PROFITABLE INVESTMENT

OBTAINS NECESSARY INDUSTRIAL LICENCES

ARRANGES INITIAL CAPITAL

PROVIDES PERSONAL GUARANTEES

SUPPLIES TECHNICAL KNOWHOW

PART II-YOUR CURRENCIES

IF YOU HAVE BUILT CASTLES IN THE AIR, YOUR WORK NEED NOT BE LOST;THAT’S WHERE THEY SHOULD BE. NOW PUT THE FOUNDATION UNDER THEM

HENRY THOREAU

ASK YOURSELF------- WHAT IS IT THAT DRIVES YOU? WHAT ARE YOUR CURRENCIES? Are they--- MONEY RECOGNITION COURAGE VICTORY ACCEPTANCE HEALTH

TAKE ADVANTAGE OF ---- A DISCERNING EYE ABILITY TO ASSESS A BUSINESS RISK DURABILITY EARLIER ON GOOD PLANNING-FINANCIAL AND OPERATIONAL

MILESTONES PROFESSIONAL PRESENTATION AND COMMUNICATION. TEAM ORIENTED APPROACH

“FORGET ABOUT BEING RICH: BE RICH IN YOUR HEART, IN YOUR SOUL, IN YOUR MIND”

RAY KROC

WATCH OUT FOR----- SHORT TERM THINKING UNFORGIVING NATURE WITH STAKE HOLDERS EMOTIONAL INSTABILITY LONER MENTALITY LACK OF BALANCE SELF- ABSORBED PEOPLE ACRIMONY LOSS OF FOCUS FEAR OF MAKING TOUGH DECISIONS

“STARTING YOUR OWN BUSINESS IS MORE THAN JUST A PROFESSIONAL PATH– IT IS A WAY OF LIFE”KALIEL ISAZA TUZMAN

ENTREPRENEURIAL TRAITS

RISK TAKING INNOVATION

VISION

VALUES

ORG SKILL

OP EXCELLENCE

ETHICS

CHARACTER

PROFILES OF NON ENTREPRENEURS

SHOTGUN SAM IDENTIFIES NEW PROMISING BUSINESS OPPOR-

TUNITIES-RARELY

FOLLOWS THRU

SIMPLICITY SUE TYPE WHO THINKS

BUSINESS IS A SERIES

OF SIMPLE SOLNS

PRIMA DONNA PAUL IN LOVE WITH HIS OWN IDEAS-

DOES NOT GIVE

OR ACCEPT HELP

RALPH THE ROOKIE THEORETICAL

UNDERDOG ED ATTENDS SEMINARS-NOT ACTION-

ORIENTED

INVENTOR IRVING IS CONCERNED MORE WITH

INVENTION

THAN WITH

PRACTICAL USE

PARADIGM SHIFTS IN ORGANIZATIONAL DESIGN

VERTICAL

STRUCTURE

HORIZONTAL

STRUCTURE

ROUTINE TASK

EM-

POWERED

ROLES

FORMAL

SYSTEMS

SHARED

INFO

RIGID

CULTURE

ADAPTIVE

CULTURE

COMPETI-

TIVE

STRATEGY

COLLABORA-

TIVE

STRATEGY

PART III CHOOSING AN IDEA

CHOOSING AN IDEAIMPORTANCE OF CHOOSING MORE THAN ONE IDEA

WEIGH INTRINSIC CAPABILITIES OBJECTIVELY

AMOUNT OF EXPERIENCE AT HAND

DEGREE OF PROFITABILITY IN THE PROJECT

LOCATIONAL ADVANTAGES

IMPORTED/INDIGENOUS RAW MATERIAL/MACHINERY

AVAILABILITY OF WORK FORCE

TECHNOLOGY

ADOPTION PROCESS

AWARENESS

INTEREST

EVALUATION

TRIAL

ADOPTION

SWOT ANALYSISEDUCATIONAL BACKGROUND

KNOWLEDGE OF FINANCE AND MARKETING

FINANCIAL STRENGTHS

COMMITMENTS

EXPERTISE AND INTEREST

PERSONAL QUALITIES

PRIOR EXPERIENCE

CONSUMER BEHAVIOUR

WHAT DO PREOPLE/ORGANIZATIONS BUY

WHAT DO THEY WANT AND CANNOT BUY

WHAT DO THEY BUY AND DON’T LIKE

WHY DO THEY BUY

WHERE DO THEY BUY

WHAT ARE THEY BUYING MORE OF

WHAT ELSE MIGHT THEY NEED BUT CANNOT GET

CHANGES IN PRODUCTS

LARGER/SMALLER/HEAVIER/LIGHTER/FASTER/SLOWER.

CHANGE OF COLOUR,MATERIAL AND SHAPE

ALTERING QUALITY/QUANTITY

INCREASING MOBILITY/ACCESS/PORTABILITY/

DISPOSABILITY

SIMPLIFYING REPAIR/MAINTENANCE

AUTOMATION/CONVENIENCE

NEW FEATURES/ACCESSORIES/EXTENSIONS

IMPROVING USABILITY/PERFORMANCE/SAFETY

BROADENING/NARROWING RANGE

IMPROVING QUALITY OF SERVICE

LOCATING IDEAS/SUGGESTIONS

FRIENDS/RELATIVES

ONE IDEA TO SPARK A BETTER ONE

EXISTING ENTREPRENEURS

TRADE MAGAZINES

KEEPING UP WITH CURENT EVENTS

INVESTIGATING OTHER MARKETS

R AND D

GOVERNMENT

TASKS AT HAND

DISCUSS PRODUCTS/SERVICES WITH PROSPECTIVE CUSTOMERS

ASSESS MARKET USING DESK AND FIELD RESEARCH

ANALYSE COMPETITION

CONSIDER START UP STRATEGIES

PREPARE INITIAL FINANCIAL PROJECTIONS

PREPARE SIMPLE ACTION PLAN

CRITICALLY EXAMINE IDEA FROM ALL ANGLES

SUBSEQUENT STEPSDETAILED MARKET RESEARCH

PRODUCT RESEARCH/DEVELOPMENT TESTING

START UP AND DEVELOPMENT STRATEGIES

OUTLINE BUSINESS PLAN

IDENTIFY KEY RESOURCES/COMMUNICATION NEEDS

SELECTION OF COMPANY NAME/LOGO, METHOD OF OPERATION

LEGAL ASPECTS

PROFESSIONAL ADVICE

SKILLS AUDIT

OPERATION WITHIN EXPERTISE/RESOURCES

SMART TARGETS

SIMPLE PLAN

EXTERNAL INFLUENCES(PESTLE ANALYSIS)

PRIORITIZING WORK

ACTION PLANS FOR SELF DEVELOPMENT-CPD

PPAND D PROCESSIDEA STAGE

IDEA

EVALUATION

CONCEPT STAGE

LAB DEVELOPMENT

EVALUATION

PD STAGE

PILOT PRODUCTION RUN

EVALUATION

TEST MARKET STAGE

SEMI-COMMERCIAL PLAN TRIALS

EVALUATION

PRODUCT LIFE CYCLE

INTRODUCTION GROWTH MATURITY DECLINE

DETERMINING NEED FOR NEW PRODUCT IDEA

TYPE OF NEED

TIMING OF NEED

COMPETING WAYS TO SATISFY NEED

PERCEIVED BENEFIT/RISK

PRICE VS PERFORMANCE FEATUTRES

MARKET SIZE AND POTENTIAL

AVAILABILITY OF CUSTOMER FUNDS

CASH OUTFLOW

CASH INFLOW

NET CASH FLOW

PROFIT

RELATIVE RETURN

COMPARED WITH OTHER INVESTMENTS

UNDERSTANDING OF PPAND D

CLEAR UNDERSTANDING OF AVAILABLE TECHNOLOGY AND FUTURE TRENDS

UNDERSTANDING EXISTING PRODUCTS IN THE MARKET

MARKET SEGMENTATION/TARGET MARKET

INVOLVES STUDY OF PIM, PID, PIC.

IMPACT OF PRODUCT IN THE MARKET

LAUNCH TIMING,RISK, INTENDED PRODUCT PERFORMANCE

NATURAL GOALS

COMPETITIVE ADVANTAGE

FINANCIAL PERFORMANCE

CUSTOMER RELATIONSHIP/PREFERENCE

CORPORATE STEWARDSHIP

SUSTAINENCE OF CUSTOMER BASE

FORESIGHT AND EVOLUTION

PROBLEMS AND CHALLENGES

UNCLEAR/CONFLICTING GOALS

STRATEGIC MIS –MATCH

PROCESSES AND PROCEDURES

INFORMATION/ASSUMPTION

LEADERSHIP AND MANAGEMENT

LEADERSHIP ISSUES

PERSONAL CHARACTER

MASTER COMPETENCIES

SET DIRECTIONS

BUILDING ORGANIZATIONAL CAPABILITIES

MOBILIZING INDIVIDUAL COMMITMENT

PART IV EVALUATION OF

THE IDEA

FOURTEEN BASIC QUESTIONSWHAT IS THE NEED YOU FILL AND THE PROBLEM YOU SOLVE

WHO ARE YOU SELLING TO

HOW WOULD YOU MAKE MONEY

HOW WOULD YOU DIFFERENTIATE YOUR COMPANY

WHAT ARE THE BARRIERS TO ENTRY

HOW MANY COMPETITORS/THEIR QUALITY

HOW BIG IS YOUR MKT(IN MONEY TERMS)

HOW FAST IS THE MARKET GROWING/SHRINKING

WHAT PERCENTAGE OF THE MARKET DO YOU BELIEVE YOU COULD GAIN

WHAT TYPE OF COMPANY WOULD THIS BE

HOW MUCH WOULD IT COST TO START UP

DEBT CAPITAL OR RAISE INVESTMENT-WHAT TYPE

DO YOU PLAN TO SELL YOUR COMPANY OR GO PUBLIC ONE DAY

WHAT WOULD BE THE RETURN YOUR INVESTORS WOULD GET IF THEY INVEST IN YOUR VENTURE

RAMP MODELR-RETURNR-EXIT STRATEGY

R-IS IT PROFITABLE

R-TIME TO BREAK EVEN

R-INVESTMENT NEEDED

A-ADVANTAGESA-COST STRUCTURE

A-BARRIERS TO ENTRY

A-INTELLECTUAL PROPERTY

A-DISTRIBUTION CHANNEL

M-MARKETM-NEED

M-TARGET MKT

M-ANALYSIS OF TGT MKT/SIZE

M-PRICING

P-POTENTIAL

P-RISK/REWARD

P-THE TEAM

P-TIMING

P-GOAL FIT

LEGAL ISSUESPATENTS

TRADEMARKS

TRADE SECRETS

COPYRIGHTS

LICENSING

CONTRACT

PRODUCT SAFETY AND LIABILITY

INSURANCE

SELECTING A LAWYER