Enterprenuership

In: Business and Management

Submitted By udaimishra
Words 1523
Pages 7
How to prepare a Business Plan

Prof K Ramachandran Thomas Schmidheiny Chair Professor of Family Business & Wealth Management Indian School of Business, Hyderabad

Most Entrepreneurial initiatives fail
• How come backpacks, Staples, Jeans, gmail, Chic Pouch Shampoo, Nirma, Goodknight, Dell, Take aways, mobiles, share autos, mineral water (and the companies) . became run away success?

Why did they all become successful? They eliminated high customer dissatisfaction By Offering Solutions to customers’ problems

Discontent – Criticality Matrix
High Discontent

Low Criticality

High Criticality

Low Discontent

Financial Attractiveness Strategy (source, cost, availability, adequacy)

Technical Attractiveness Strategy (Existing/new technology and products/services)

Market opportunity

Marketing Attractiveness Strategy (size, Entry, Sustenance)

Entrepreneurial Capability Strategy (Attitude, Skills, Knowledge pool/network – individual/group)

Why businesses fail?
• Not spotting opportunity right • Not developing balanced tripod and sharpened diamond • Not maintaining sharpness of diamond over time • In essence, S W resource pool not matching with OT of environment • Entrepreneurs need to facilitate transformation of the “baby” through its life cycle

Rs
FLC and Capability mix at different stages
Growth

Idea Motivaton Attitude

Planning Opportunity

Stabilisation

t

S
Start - up

W O T

Write the horoscope of the enterprise

Myths about Business Plan
• Just to get funds from banks, figures bent for them • Prepared by consultants, not me • Dynamic environment, assumptions change fast • Not plan, but execution is key to success • Unnecessarily time consuming (analysis paralysis)

Why BP?
• BP is a guide map of the future • Tool to refine idea and examine technocommercial viability • Facilitates (forces)…...

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