Earthsoft Foundation of Guidance

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About us
Earthsoft Foundation of Guidance (EFG) has uploaded following presentations at http://myefg.in/downloads.aspx Also https://dl.dropbox.com/u/83265908/Links-events.xls has links Be mentor using your education, knowledge & experience to contribute for a social cause & do conduct free training seeking help of existing platforms. Kindly share with your friends Motivation for higher study, Planning for study, Education guidance, Career guidance, Career available after SSC & HSC Personality development 3 files How to prepare resume, Tips to attend interview successfully Religion related To understand basic religion, Do &Dont tips Health related - Be vegetarian, Be healthy Corporate - Project management, Assertiveness, Ownership - Effective communication Finance - To avoid speculation in stock market Social - Women empowerment, Choosing life partner
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Index

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Problem definition
Define a problem Who are the stake holders Population of actors who are suffering Since when problem continuing What is the cost of the problem What is the current alternative Quote from analyst regarding the need To define the nature of product/service opportunities available while attempting to resolve those problems

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Vision
To specify vision statement leading to solution of the problem Change one can witness post implementing the solution in future Vision involves the foresight needed to acquire the necessary expertise to organize & mobilise the resources, to accomplish the desired results

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Gems of Wisdom

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Sources of opportunities
Technological change Public policy shifts Changes in public opinion Changes in taste Social and demographic change Need of a day Comfort One umbrella solution Scarcity Desire
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Potential sources of ideas

Brainstorming Individually or in groups/teams Own personal experiences What businesses have been done in the past? Have you started businesses before? What was learnt from success and failures? Innovation and invention A flash of individual inspiration Spotting trends and anticipating their impacts on Opportunity peoples lives Yes No Surveys
Yes No
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Idea

Generating business ideas

Copying ideas from other countries Taking a scientific approach, working in a laboratory Spotting flaws and errors in existing products Can something be done better? Noticing a gap that is not currently being produced Wanting to do something different & may be big Ambitions Willingness to invest funds Deep understanding of problems around & desire to solve those using technologies
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Creation of Ideas
Education Knowledge

Experience

Connection

Information

Intelligence

Creative thinking, ideas, Opportunities

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To start a business
Value proposition? What are differentiators? Reaching to customers? Build long term relationship? Revenue stream? Profitable?

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To start a business
Know yourself & what is important to you Set goals & Plan to achieve Be a rising star - try to be always on top Brand yourself, know strengths & saleable skills Balance work, family, life enjoyment, pressure Be ready for change Be entrepreneur - Think starting your own, implement what you think is right, grow as much to build empire, convert idea into business Create achievable business plan

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Getting started
Think of something you need/want Think of something others need/want Figure out whats broken and how can you fix it Find out whats working for other companies and apply it in a new way Invent a new technology and figure out how to apply it Think of a marketing/growth strategy and then fit a product into it

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Gems of Wisdom

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Solution
To specify solution, preferred graphical How is solution solving the problem To capture all the actors involved Is solution Life changing? Path changing? Stylish? Simple to adopt? Difficult to copy? Unique in its kind? Affordable? As well as not very costly? Reachable?
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Anything innovative?
Product or Services

Business Model

Idea?

Process

Technology
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Key features
Key pointers could be Availability Predictability Cheaper Comfortable Eazy to use Secured Technology savvy Efficient Changes it will bring

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Benefits expected

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Business model
A business model is a blueprint that describes future organization & forecasts of the growth. This can be from a quarter to several years How an organization intends to create value Business model components The mission Strategic resourceswhat we need Partnership networkwho we will work with Service interfacehow we connect to clients, donors, etc. Need to check opportunity & threat (Supply & demand)
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Influences
Customer need

Legal Business Model

Technology

Competition

Social
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Business model framework

What it offers to various customers What is the capabilities for creating, marketing, and delivering the value What is relationship capital with the goal of generating profitable & sustainable revenue
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Features
Business Plans is as simple as possible, more effective & interesting forecast of business idea, defines strategies, balancing and gaining edge utilising the strengths over the weaknesses The main motive of a business is profit. Business men dont rush unless they forecast & address the weaker areas first. It should reflect the realistic goals Where you want to be? How? How much time? How clients would be better served? How the quality of the product & services be improved
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Goals & Objectives

Goal The purpose towards which organisation is directed to achieve (generic action), may not be measurable Objectives - Something that one's efforts or actions are intended to accomplish the target or purpose (Specific action),measurable & tangible Five-year specific & measurable goals objectives. Market share Revenue & profitability

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Goals & objectives

Definition of success Intermediate goals and success measures Evidence that goals can be achieved Timeline Start of the enterprise Incorporation date, if any Hiring, space, and equipment acquisition Start of service delivery Beginning of cash flow from fees, grants, and donations Enterprise growth milestones Goal attainment
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Mission Statement
Mission is the process of defining objectives and developing strategies to reach those objectives A clear statement of long-term mission of your organisation To use the words that will help direct growth of your organisation Be concise as possible.

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Mission related
What will the enterprise do, and what will it not do? What does value mean for this enterprise, and how is it measured? What is this enterprises unique innovation or adaptation? What is competitive advantage What is gap between demand & supply What constitutes success for this enterprise?

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Gems of Wisdom

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Business Concept
Define concept & key technology Market Segment Customer base: B2B, B2C Primary revenue source: Product Sales, Service Secondary revenue sources Scalability Captive or service oriented Overhead: Low, Medium, High Investment till breakeven Duration till breakeven, stable, grow & sustain Losses if closed before breakeven Profitability expected after stability
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Business Concept
Benefits for customers Differentiators for customers Strategic or nice-to-have Value added services What is sensitivity for the business Cost, Quality, Services, Distribution, Trust? Exit strategy: IPO, Buyout, Private & Profitable

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Business Detail
To specify detailed flow chart Try to capture processes, actors & entities Product or service Performance characteristics Cost characteristics Delivery mechanism

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Business Detail
Solution Problem Key activity Unique value proposition Channels Unfair advantage Customer segment

Cost structure

Revenue stream

Product

Market

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Business Detail

Key activities Key Partners Key resources Unique value proposition

Customer relationship Customer segment Channels

Cost structure

Revenue stream
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Business Detail

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Attributes
List 5 competitive attributes Draw a graph for expected performance Decide Eliminate, Reduce, Raise or Create

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Edge
Edge over your competition is your strengths. This also a key feature. Special achievement & knowledge in team may be a key differentiator and can result into growth Special viewpoints and ideas Core competencies Education or experience

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Serviceability
Commitment statement on serviceability Parameters to measure Defining numbers for pathetic, poor, bad, ok, good, better, excellent services Client is God. Profit and salary of all employees come from their money. Always attempt for the best of the client services Communication Advices Response Time Suggestions Delivery schedule & Quality
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Customer Profile
Characteristics of customers Value proposition Decision maker How desperate for solution?

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Potential customers
One time or every time effort to grab new customer Pull or push type? Probably most important feature of the business. Understand Who are customers? Whom to target and how? Know the users mind Who could they be the potential customers Why would they be customers?

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Competition
Significant competitor name Focus of their business Competitive advantage of your organisation to define differentiators Weaknesses Weakness and how we exploit it Strengths Strength and how we address it

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Competition & trends

Target market value Additional prospect base Existing organisations, their attributes Significant competitors Total competitors Trends Past, Present, Expected To capture & review changes in market share, leadership, players, market shifts, costs, pricing, or competition that provide the opportunity for success of your organisation

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Gems of Wisdom

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Milestones
Stage 0 : discuss with close friends & expert, seek views, make a judgement & decide Market survey & feasibility study Stage 1: Founding the Business Team, Incorporation, legal documents Managing funding Hiring Ground work, basic systems, building initial product, offer services for selected geography Beta test and rework product or pilot Initial product offering Marketing activity
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Milestones
Stage 2: Developing the Business Manage funding Crank up marketing activity Aggressively obtain customers Begin offering second product or expand service offering in various geographies Emphasize customer acquisition Entertain any acquisition offers that arise Stage 3: Stabilizing the Business Bring in efficiency in operation & management Manage funding, cash flow, profitability File for IPO, step towards exist policy
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Marketing Plan
Target Market, Segment or Demographics Distribution and sales channels Franchisee or own sales and marketing offices Pricing and positioning This is most critical decision & iterative mechanism Branding and strategic position Media & advertisement : Web / Magazine/ Inserts/ NEWS paper/ Trade Shows/ Billboards/ TV/ Radio Marketing, franchisee, sales team development

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Resource plan
Technology requirements Personnel / Resource requirements Infrasturcture requirements - Building, Furniture, Internet, Communication devices Financial, Distribution, Promotional, Legal
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Financial Plan
Pricing Model Preferably at least for 5 years To forecast direct & indirect cost To consider every small possible expense Use conservative price point, may be input as a result of feasibility study Detail price evolution over time, iterative mechanism Stabilized gross margins Gross revenue, net income and growth by year Cash flow and capitalization needs Say no to business If margin is less than 25%!
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Financial summary
Monthly plan from 1st year to 5 years Revenue Percentage and absolute profit Accumulated profits/loss Headcount Customers count Cash flow, capitalization needs, assets Other details Accumulated profits/loss till stabilisation phase Month of breakeven & accumulated profits/loss Maximum accumulated loss % margins post stabilisation
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Team
Most important one point Have right people at right slot Gather the gems Know the strengths of the people & work with those List Board of directors & CEO Vice presidents or Head for various divisions Previous accomplishments & track record Domain wise number of years of experience

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Partnerships
Interested Parties Investor - Lead Investor organisation Investor - Venture organisation Law Firm & Attorney Name Experienced in aggressive venture planning

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Risk & Issues

Risk likely issue in future, probability < 100% Issue A problem to be solved Manage the risk by mitigating & solve the issue Financial risk Legal risk Talent risk Environmental risk
Political and governmental Economic Demographic

Description

Issue/Risk Mitigation
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Barriers
To list likely barriers What is plan to overcome the barriers To categorise the barriers like social, government, financial, legal, talent, mental, resources, finance, machinery, communication, etc To specify level of control & grip to address

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Time management
Manage time well Plan the work and work out the plan Consider efficiencies of various systems to be dealt with & which are out of your control

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Keep revisiting
Keep revisiting BP & revising as you go in details, make it dynamic Keep loopholes as minimum Get it reviewed Make another BP as a Plan B, so that anytime you can seek in more resources or change the variables

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Measure success
Keep measuring progress on monthly basis Set the process & system List the experiences and possible improvements

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Expansion Potential
Plan to expand business by way of additional Customers Products Services Franchisees Geographies Define measurable target quarterly & increase it till saturation Plan to improve on quality of the product & services

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New Potential segments

Is there a new market ? How do you plan to grab a new target market ? Define quarter wise segments to be tapped Is there any growth in specific sectors ? How can these be tapped ? Any specific segment wise strategy needed?

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Gems of Wisdom

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Manage change
Aim for sound business model & its execution Manage implementation & change To keep evaluating, learning and redesigning To manage improvement

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Gems of Wisdom

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Common pitfalls of B Plan

Failing to communicate realistic goals Failing to anticipate problems, lack of evident commitment or dedication to the venture Lack of experience Failure to demonstrate market niche

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Summary
What is the venture ? Why is it new and important? Who will benefit from it, and how? How will the idea be executed? Who is the social entrepreneur, and what unique skill, service, or background does he or she (or they) bring to the venture? What kind of support for the enterprise is needed, and how much of it? How much will be the margins? What will constitute success?
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Next Steps
To specify immediate, short term and long term needs & actions

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Checklist
How determined am I? Am I an expert in the business domain? Would I be able for form a team of experts? Am I willing to invest my own money? What would happen to me if business doesn't work? What are the risks to my career & life? Am I comfortable taking direction from others? Would I be able to work with partners? Am I in accounting & keeping track of profits? Am I good in relationship management? Do I have patience to work within the systems?
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Successful business
Entrepreneurial skills of Entrepreneurs Skills of the individual owners Importance of market research External factors offering opportunity to develop a product idea Importance of spotting a gap

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Q&A
To address any question or doubt To encourage frank discussions

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Reference business proposal

Taxi service
https://dl.dropbox.com/u/83265908/Earthsoft-City%20Cab%20Proposal.ppsx https://dl.dropbox.com/u/83265908/Earthsoft%20%20Travel%20cab%20proposal.xls

Training across India

https://dl.dropbox.com/u/83265908/Earthsoft%20Foundation%20of%20Guida nce-%20Proposal%20for%20NSDC.ppt https://dl.dropbox.com/u/83265908/Proposal%20for%20Soft%20skill%20dev elopment%20-%20India%20NSDC.xls

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Good to refer
http://www.slideshare.net/tosime/how-to-write-a-business-plan - Excellent http://www.boardofinnovation.com - ok http://www.slideshare.net/colinraney/planningness-2011 - ok www.companieshouse.gov.uk http://www.canadabusiness.ca/eng http://www.slideshare.net/infe/web-20-business-models-270855 excellent http://www.slideshare.net/joestump/starting-your-startup - Excellent http://www.entrepreneur.com http://www.referenceforbusiness.com http://www.sba.gov http://www.carnegielibrary.org http://www.slideshare.net/vinaya.hs/business-plan http://www.slideshare.net/arnabray/business-planning-startup-strategies www.bdc.ca http://www.slideshare.net/startmeupryerson/rabbani-bdc-start-ups-2

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Gems of Wisdom

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Thank You

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