SME ONESOURCE - STARTING NEW VENTURE - KEY PRESENTATION

What it takes to start a venture?

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SME OneSource Collaborative Eco-system

You want to start a new venture because-you have an

IDEA/CONCEPT ?Or a PRESSINGNEED?

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Why New Venture?

Question yourself / othersWHY New Venture orthis IDEA/CONCEPT?

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Why new venture…?

To fulfill the need (Self & Others) – in case of pressing need To make your dream come true To make more money To build business for next generation To sell the business for a value To create more jobs & livelihoods To contribute Country’s GDP To be occupied in something to kill the time To use your competencies to help others ……………………………..?????

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Venture around CORE COMPETENCY

Whatever is the objective, vision, mission, goals, etc., with which you want to start a new venture,

Let us be honest and accept

“there is NO one size, fits all”So, work around your CORE COMPETENCY in defining your

BUSINESS / VENTURE and stitch the idea or concept around it…

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SUSTAIN THE RISKS

Mistakes – mistakes – mistakes

How many times mistakes can happen to learn from the MISTAKES?

Check the SUSTAINABILITY factor (Cash surplus & Minimum Profits to sustain)

and RISK APETITE(Identify Risks & document Risk Mitigation plan)

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Mentor or Consultant

Mistakes of others to learn from – irrespective of whether

they are successful or not….. ?? WHO ?Mentor or Consultant ..!!!Only mentor with specific business expertise can share his/her mistakes..!!

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Mentor or Consultant

Whom to look for in the initial stages of setting business?

Mentor or Consultant ..!!!First comes - Mentor who gives a different perspective to grow TANGIBLY!! & Mentors supports emotionally (family, friends, colleagues, etc.,)

Next comes - Consultant “who asks to be paid is not a mentor” So ---- define tangible results to be delivered, if you engage a consultant with specific expertise..

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Mentor - Mentee

Mentor – Mentee …!!The mentor-mentee relationship isn’t just great for building confidence and

learning more about your venture, but is a relationship you can hopefully

capitalize on to help you TANGIBLY GROW your own business.

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Dream Venture to Reality

6 Key Ingredients of successful business to support your

CORE COMPETENCY (to produce or create or service) and make your

DREAM VENTURE A REALITY

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ASK – ALWAYS SEEK KNOWLEDGE

ASK FOR WHAT YOU WANT – Always Seek KNOWLEDGE with your MENTOR Knowledge about what? Business & Regulatory requirements TECHNOLOGY requirements PROFESSIONAL Services (Regulatory, Business Process, etc.,) Sales & Marketing (competition, opportunities & markets) Finance & Funding (source of funds and type of funds) Human Resource (planning, skills, retention & SUCCESSION)

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Entrepreneurship – To be True and Successful

Entrepreneur must carry the BATON to ensure SUCCESSION

Whether you BUILD “A” BUSINESSOr BUILD “AN” ORGANIZATION

What is TRUE ENTREPRENEURSHIP ??When an Entrepreneur is said to be SUCCESSFUL??

Entrepreneurship is the JOURNEY..that never stops…

Write to us at [email protected]

for on-going mentoring