Greetings from entrepreneur café! After busy year end closing time, we are back with a series of workshops, seminars, Webinars for startups and entrepreneurs.
What it takes to make an idea a business; what it takes to sustain and scale; what it takes to make your idea, startup market ready, success ready and investor ready.
These are common questions that most of the startups ponder over. The lack of guidance and support takes their focus off from the core product feature’s development.
A curative workshop on Operations Strategy and Model by Mr Indraneel Mazumdar highlighted some of the most essential advice and learnings that fellow budding entrepreneurs could implement.
He has been instrumental in making more than 25 companies sustainable, scalable and successful and together they are worth more than 10000 crores now. His 29 years of experience and expertise has been effectively utilized by many startups and enterprises for scaling up and growth. He was a consultant and development director for many malls in India such as Phoenix, Inorbit, VR etc.
He had 3 essential key elements to deliver.
Extensive research beyond the world of internet adds significant vigor to an entity’s market analysis and so does it helps in understanding an entity’s market to a much more deeper extent. Google isn’t always a very reliable source when it comes to market research which involves a lot of legit data to be collected. This can be considered as the primary or the thumb rule to starting any business. Extensive research beyond Google is what will give you correct and accurate data.
Where to sell
This is something which most start-ups stumble upon. Identifying key markets and who would actually buy my product is probably the most important aspect of any venture. My research tells me that my product would sell best outside any college which may not be the case. A proper outreach to my target audience would require the knowledge of where I could actually sell my product.
You have got 30 seconds to pitch!
This is something which doesn’t happen overnight. We know our product. We probably understand the workflow of our venture in a cut throat global environment but can we really pitch an overview of our product within 30 seconds? This not only adheres to pitching investors but it could as well create a lot of value for the venture in the form of ideas and any form of expertise which the latter individual possesses. Practice pitching your product to anyone and everyone you know.
It was a pleasure having him with us on the very evening of 14th May with a lot of his expertise and experiences shared with budding entrepreneurs at Goodworks Cowork. An after session interaction with Mr Indraneel rendered a lot of valuable advice and positive vibes into the spirit of entrepreneurship.
Ambition is the steam that drives men forward on the road to success. Only the engine under full steam can make the grade. -- Maxi Foreman
(This blog has been provided by Soumyadip Bhattacharya. He is currently pursuing B.E. in electronics and communication and an active startup enthusiast. He have been associated with several companies and organisations over the last two years in the field of marketing and business development)