• Not small business management• Not just startups• Not just for-profit firms

• Is the act of creating a new and innovative enterprise

• Developing an idea • Applying creativity• Initiating and innovating• Creating a new value

“It’s a way to think, a way to learn and a way to succeed”

• take control of his future• self employed• compete with themselves• believe success/failure lies in their

control

• strong motivation• excitement• desire for fame• wish to inspire and develop• vision

IdentifyingOpportunit

y

Developing

Plan

AssembleTeam

Funding &Support

• General market research

• Segment research

• Pricing models

• Competitive research

• Financial models

• Business plans

• Attract and retain the best talent

• Complimentary skills and personalities

• Term sheets• Make sure

you have more than enough resources to pursue vision

• The success formula

• Everyone should be… - a team player- a hard worker- curious- flexible- good at listening

• Need to have…- creative people- managers- domain experts

• Fundamental issues:- Who is the market? What are their needs?- How does your product meet these needs?- How much can you expect them to pay?- What is the long term strategy?- Who are your competitors ? How are you better?

• Goods• Cash• Network

• Be organized• Effective• Professional

• selling to the wrong people.• spending too much money.• spending too little money.• putting on a fake front.• going against your intuition.

• uncertainty of having a regular income

• loss risks in self invested money• getting out of business

Dhirubhai Ambani Ajim PremjiRatan Tata Vijay MaallyaSubroto Roy Shobhana BhartiaVerghese Kurien Dr. Pratap ReddySubhas Chandra L.N. Mittal

• One of the fastest growing economies

• Huge pool of technically skilled workforce

• Cheap cost of labor• Large increase in disposable incomes

• Poor governmental support• Poor working culture• Poor business ethics• Lack of infrastrucure

• World Entrepreneurship Week –UK• Entrepreneurship Week –USA

- internet based campaign- encourage enterprise in youth to

seize overlooked opportunities.

• Lunar Boom Town – Wikiversity- collaborating students with

designing and revising business models

The skills embodied in entrepreneurship are really life skills—some would say survivor skills—required in today’s global, hypercompetitive world.