E-CELL, IIIT SONEPAT
Fundamentals Of
Entrepreneurship Important Concepts to know before starting a company. linktr.ee/ecelliiitsonepat
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House Rules While waiting for others to come in, here are some rules and reminders to keep in mind
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Please be respectful in the YouTube live chat
Feel free to type your questions in the chat box
Be Attentive because there will be a quiz at the end
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Introduction to Today's Webinar In this session, you will learn about all the important things you need to know to start a company starting from USPs to the stages involved in building up a startup.
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Our Speakers
Rishi
Vaishnav
CSE 2021 - 25
CSE 2021 - 25
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Quote of the day
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Mistakes to Avoid
Webinar Outline
Fundamental Concepts
Stages Of a Growing Startup linktr.ee/ecelliiitsonepat
What is ENTREPRENEURSHIP What is ENTREPRENEURSHIP? Who are ENTREPRENEURS? What is an ENTREPRISE?
Mistakes To Avoid Before moving on lets talk about some mistakes we should avoid while building our own startup
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Common Mistakes Unable to cope with Intense Competition Lack of funds Flaws in business model
What not to do!!
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Some Start-up Failures Jabong.com was an Indian fashion and lifestyle e-commerce portal founded by Praveen Sinha, Lakshmi Potluri, Arun Chandra Mohan and Manu Kumar Jain.
Jabong Hike Messenger, also called Hike Sticker Chat, was an Indian freeware, cross-platform instant messaging (IM), Voice over IP (VoIP) application.
Hike
Fundamental Concepts These are the key points one should keep in mind before starting a company, Unique Selling Proposition
Marketing
Business Model
Investments and Investors
Co-founders and Team
Patents
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Unique Selling Proposition Definition.... What you sell does not have to be unique but the message you choose to focus on has to be unique
Why "you" vs The Competition What makes you special than the rest of the competitors
Let's Assume...
Why "you" vs The Competition
Have USP 1. Confidence 2. Certainty 3. Knowledge Broker
No USP 1. Insecure / In your head 2. Hoping 3. Just another Realter
What do consumers want? Time
You are a real-estate agent...
Money
Certainty Make Save
How can we make our own USP What It Shouldn't Be
What It Should Be
A specific offer
List all the differentiators of your brand and what you sell. (get specific)
A header copy (of home page or motion)
Research you competition ( look for gaps to introduce your own product)
Compare your most unique angles against your audience’s needs
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Business Models Definition.... A plan for the successful operation of a business, identifying sources of revenue, the intended customer base, products, and details of financing.
Revenue?? Target Audience?? Pricing Model??
Common Business Models Business to Business (B2B) A Business-to-business refers to business that is conducted between companies, rather than between a company and individual consumer.
Business to Consumer (B2C) A business-to-consumer, or B2C, business model is one in which a company sells a service or product directly to a consumer.
Common Business Models Freemium
Here a company offers basic or limited features to users at no cost and then charges a premium for supplemental or advanced features.
Subscription Subscription business models are based on the idea of selling a product or service to receive monthly or yearly recurring subscription revenue.
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Co-Founders and Team Do I need a co-founder?
Why should I get Co-Founder?
Cant I just hire a CMO?
Co-Founders and Team IMPORTANCE OF A CO-FOUNDER
Business person + A Techie Expertise Investors support Downside is....
ROLE OF A CO-FOUNDER Capacity.... Product person + Marketing Person
Bring new solutions / ideas
Co-Founders and Team WHAT IF YOU HIRE INSTEAD? Money, credibility, attraction
Market Salaries
POWER TIPS TO FIND A CO-FOUNDER Dating-like-recruitment
Sell the Idea and Opportunity Show them that you embrace feedback.
Wont work over time
Realize Co-Founding is a 7-10 year commitment
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Marketing Definition.... The action of promoting and selling products or services, including market research and advertising.
Reach?? Stratergies?? Advertising Platform??
Common Strategies
All you need to know regarding marketing!!
Viral Marketing Publicity Stunts Search engine optimisation Social Media Marketing Traditional Offline Adds
APKI REACH KITNI HAI
Common Strategies Engineering as Marketing Word of Mouth Offers and Sales Affliate Marketing Reviews and Testimonials
REACH!!!
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Investment Stages and Investors Startup vs Business 90% Business are not fundable.
Why would investors invest.
Stages of Investments BOOTSTRAP
Our own money 2 Forms of a company...
SEED FUNDING
Prerequisites Angel Investors.
Proprietorship Limited Liability Partnership (LLP)
5-30 Lakhs Per Angel
Stages of Investments SERIES FUNDING Serious Money
INITIAL PUBLIC OFFERING Company goes Public
Rounds A, B, C, D...... Sequoia Capital, Lightspeed Venture Partners, Nexus Venture Partners
Venture Capitalists
Investment Banks
JP Morgan & Chase, Morgan Stanley, Goldman Shacs, CitiGroup
To Summarise
Bootstrap
Seed Funding
Initial Public Offering
Series Funding
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Patents Definition.... Licence conferring a right or title for a set period, especially the sole right to exclude others from making, using, or selling an invention.
What can u Patent? Product
Conditions for filing It should be "New"
Must be non-obvious
Process Capable of Industrial Application
Now that we have learn about all the key fundamentals about startup, we will learn when and how to implement them while building our own startup
Stages of a STARTUP Pre-Seed Stage This phase of analysis is crucial for the detection of a real problem in the niche market in which the startup wants to act.
Seed Stage What is primarily sought in the seed phase is to validate the business model.
Stages of a STARTUP Early Stage The early stage indicates the beginning of a phase in which the idea is left to evolve until it becomes a product or service in the market.
Growth Stage In this stage there will be upward figures in terms of new customers, recurring customers, and billing. This is when the team starts to grow, and recruitment begins.
Stages of a STARTUP Expansion stage This stage is it to consider more ambitious goals, for example, internationalization, expansion to other sectors or hiring new professionals.
Exit phase This phase is not mandatory and does not always take part among startups. However many a times its seen that people sell some percentage of their start up at this stage at a very high valuation.
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Feedback Form
Quiz Questions
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