| Workshop on Startup Basics How to get started |
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On 11th October 2022, a workshop on " Startup Basics: How to
get started " was organized by E-Igniters, ISIM's E-cell, TEIIC- The Incubation
Cell, and the Institution's Innovation Council. The resource person for the
workshop was Mr. Sumit Srivastawa, Founder of Startup Chaupal. Mr. Sumit said that startups are the lifeblood of our economy and innovation across the globe. They create jobs, new products, dreams, and disruption. They are led by entrepreneurs who work hard to bring their ideas to life. Often overshadowed by failure, they persist and can change the world. We feel that entrepreneurs are heroes that need to be celebrated and, more importantly, supported by a community of fellow founders. But Jobs are also the lifeblood of any economy. So job and entrepreneurship are both two sides of the coin. Mr. Srivastawa stressed that one should prepare thoroughly before starting a business but realize that things would go awry. To run a successful business, one must adapt to changing situations. He also said that conducting in-depth market research on the field and the demographics of potential clientele is a significant part of crafting a business plan. With various couplets and stories, he highlighted that a business plan is a living document that maps out the details of your business. It covers what the business will sell, how it will be structured, what the market looks like, what is the plan to sell the product or service, what funding one will need, what the financial projections are, and which permits, leases, and other documentation will be required. Mr. Sumit concluded the session by sharing that, at its core, a business plan helps one prove to oneself and others whether or not the business idea is worth pursuing. It's the best way to take a step back, look at the idea holistically, and solve issues years down the road before one start getting into the weeds. |
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