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E-Cell Objectives:
E-Cell Vision:
E-Cell Mission:
―To foster and sustain the spirit of Entrepreneurship amongst students across the emerging
entrepreneurs and provide them with a platform to convert their ideas to businesses. We
aim to foster the Spirit of Entrepreneurship amongst the masses at large.‖
About E-Spire:
Contents
DIRECTOR’S ADDRESS
04
ENTREPRENEURSHIP @ CAMPUS
05
I would like to congratulate the team at SITM who has taken this initiative in launching this news letter.
I challenge all the students at SITM to think out of box, think beyond or simply look around you and be
very observant, understand painful areas in the lives of an average person and think of solutions to
help him, I am sure SITM students will come up with several new ideas and that is the first step on the
way to be an entrepreneur. I wish lots of luck and grand success to this initiative.
5
Entrepreneurship
someone could be more creative than the other in
their problem solving ability or someone might
@ Campus
simply have a broader set of definitions as to
interpretation of rules. The only prerequisite to be
creative is that people need to expose themselves
Speakers: to more creative avenues. Therefore Creativity
can’t be taught but it can be nurtured.
Mr Jishnu Debnath
[jishnudebnath@gmail.com] The speakers shared with students about their
experience with Arsh. Arsh is not just a community
Mr Amol Chavan but it is much more, it is the way of life, the Arsh
[amolchavan@gmail.com] way of life. They had many events such as Rs. 50
game, Movie screenings, Panel discussion with
Venue: C hall entrepreneurs and venture capitalists, Business
Date: 16th January 2010 Plan competition, idea generation workshop, social
Event Timings: Started at 1.20 pm & Ended at entrepreneurship, internships as startups and the
3.15 pm Green Movement –Haritima. The event like Rs. 50
game helps in taking out the new innovative ideas
Compiled By: of one and helps in teaching that to be successful
Ayushi Patni, MBA-TM 1ST Year Entrepreneur you have to be street smart. In the
Neha Isawe, MBA-TM 1ST Year game there were instances like one team sold a
business plan to a car distributer and the
distributer later had a meeting with them so they
“Man can’t discover new shores get transformed from just students to business
consultants.
unless he has the courage to lose
sight of the shore.” One of the speakers, Mr Jishnu Debnath, while
analyzing the main features of the entrepreneur,
Whenever we think about the word
said that there are only 3-4% truly novel &
innovative ideas and the rest is just the repetition
Entrepreneurship, the first question which comes of the same old things. Most of us think that to be
in our mind is “What is Entrepreneurship?” Well it an entrepreneur we need to come up with a truly
is more than a buzzword it means a lot. By new and innovative idea, but this is true only in 3-
Entrepreneurship we mean creating something of 4% cases for rest it is not. You can go for
your own, doing something for ourselves. It is Enhancement of features such as DOS to
nothing but Self Motivation. To become WINDOWS, Mechanical watch to Quartz watch and
entrepreneur what you need first is Self many more or Extension of features such as pen
Motivation, courage to take risk and confidence in with torchlight. Apart from enhancement and
one’s ability. extension you can go for Specialization also, that is
creating a niche such as low cost airlines (Ryanair,
Entrepreneurship not about making money it’s a
Easyjet), Boutique financial advisory etc.
way of life!!!
watching a movie, snuggling into a pillow; think Like the territorial rajas of the past, businessmen
about making something for someone who is today rule vast empires, maintain a watchful eye
somewhere out there waiting to be happy. inside and outside their boundaries, and protect
their turf against invaders.
And remember “Entrepreneurship is not a rocket
science”.
8
What It Takes To Be
and potential threats. Then your analysis will
help you discover whether your idea has any
an Entrepreneur
holes that need patching.
use it as a selling tool in dealing with important But sometimes the businesses fail.
relationships including your lenders, investors
and banks. Your business plan can uncover The entrepreneur is ultimately the secret of the
omissions and/or weaknesses in your planning success. For many successful business owners,
process. One must avoid long- term failure was never an option. Armed with drive,
projections. Place some reasonable limits on determination, and a positive mindset, these
individuals view any setback as only an
long-term, future projections.(Long-term means
opportunity to learn and grow. Most
over one year.) Better to stick with short-term millionaires possess average intelligence. What
objectives and modify the plan as your business sets them apart is their openness to new
progresses. Too often, long-range planning knowledge and their willingness to learn
becomes meaningless because the reality of whatever it takes to succeed.
your business can be different from your initial
Why Do Businesses Fail?
concept.
* Failure to anticipate market trends. Lack of
Business Plan Format market research when entering new markets,
results in poor sales and return on investment.
The Business Plan format is a systematic
assessment of all the factors critical to your * Overspending. Spending too much on
business purpose and goals. frivolous luxuries instead of products and
services that improve the bottom line.
A Vision Statement: This will be a concise
* Poor cash flow control. Paying creditors too
outline of your business purpose and goals.
early, buying too much stock or giving
The People: By far, the most important customers payment terms that are too long.
These can all lead to a lack of working capital
ingredient for your success will be yourself.
and cash flow problems.
Focus on how your prior experiences will be
applicable to your new business. * Failure to listen to customers. Listen to your
customers and adapt accordingly.
Your Business Profile: Define and describe
your intended business and exactly how you * Lack of innovation. Some businesses never
change, but they lose their market share when a
plan to go about it. Try to stay focused on the
new company comes along with a new way of
specialized market you intend to serve. doing things
Economic Assessment: Provide a complete * Loss of financial support or investment. If an
assessment of the economic environment in investor pulls out, you may find it hard to
which your business will become a part. attract another one in time, and
Explain how your business will be appropriate
* Reluctance to seek professional services.
for the regulatory agencies and demographics
with which you will be dealing. Finally if all care is taken and all rules of the
game are followed, it does not take much to
Hence a effective business plan must include a become a successful entrepreneur.
a sound business concept, understanding of the
market, a healthy, growing and stable industry,
capable management, able financial control, a
consistent business focus, a consistent business
focus and include plans for conducting business
online.
10
Author:
Navsangeet Kaur
The Train to
business? Especially if your interest lies in
social entrepreneurship and you enjoy
travelling!
Entrepreneurship Well then here‘s something – I take great
pleasure in introducing the phenomenon called
as “Tata Jagriti Yatra “that is sweeping the
nation !
We saw some 13 live business models, met 25 And yet so many challenges await us,‘ points of
entrepreneurs and got to know the real pain‘ waiting for entrepreneurs to resolve and
challenges that our country faces and some of create real wealth that contributes to an
the solutions that worked and made money too! emerging super power!
Author:
Harjot singh
The E-Way
view of the forest in which your company
operates. A business plan can provide you and
your management team with an objective basis
for determining if the business is on track to
meet the goals and objectives you have set.
Business plan is a valuable management tool
that can be utilized in a wide variety of Steps in Preparing your Business Plan:
situations.
In most companies, business plans are used at a Listed below are the steps you should follow in
minimum to: preparing your business plan, whether you are
• Set the goals and objectives for the company’s writing it for the first time or rewriting it for the
performance. twentieth.
• Provide a basis for evaluating and controlling
the company’s performance. STEP 1—IDENTIFY YOUR OBJECTIVES
• Communicate a company’s message to middle
managers, outside directors, lenders, and Before you can write a successful business plan
potential investors. you must determine who will read the plan,
what they already know about your company,
Setting up Business Plan what they want to know about your company
and how they intend to use the information they
The business plan for an early-stage company will find in the plan. The needs of your target
is, in many ways, a first attempt at strategic audience must be combined with your
planning. communication objectives—what you want the
An entrepreneur should use a business plan as a reader to know.
tool for setting the direction of a company over Once you have identified and resolved any
the next several years, and a plan should set the conflicts between what your target audience
action steps and processes to guide the wants to know and what you want them to
company through this period. Many know, you are ready to begin preparing a useful
entrepreneurs say that the pressures of the day- business plan.
to-day management of a company leave them
little time for planning, and this is unfortunate STEP 2—OUTLINE YOUR BUSINESS
because, without it, an owner runs the risks of PLAN
proceeding blindly through the rapidly
changing business environment. Of course, Once you have identified the objectives for
writing a business plan is not a guarantee that your business plan, and you know the areas that
problems will not arise. you want to emphasize, you should prepare an
But, with a thoroughly thought-out plan, a outline based on these special requirements.
business owner can better anticipate a crisis The outline can be as general or detailed as you
situation and deal with it up front. Further, a wish, but typically a detailed outline will be
well-constructed plan can help avoid certain more useful to you while you are writing your
problems altogether. All in all, business plan.
planning is probably more important to the
survival of a small and growing company than STEP 3—REVIEW YOUR OUTLINE
a larger, more mature one.
Review your outline to identify the areas that,
Performance Benchmarks based on your readers and objectives, should be
A business plan can also be used to develop presented in detail or summary form in your
and document milestones along your business‘s business plan. Keep in mind that your business
path to success. In the heat of daily operations, plan should describe your company at a high
you may find that taking an objective look at level and that extremely detailed descriptions
the performance of your business is difficult. are to be avoided in most cases. However, you
Often, the trees encountered daily obscure your must be prepared to provide detailed support
14
Author:
Vinay Acharya
MBA-TM, 1st Year
SITM, Pune
15
Waterman of
water through Rain Water Harvesting. He
initiated the first rain water harvesting project
in Kutch and now Gujrat is following his
Rajasthan techniques for Rain water harvesting.
important attribute about his personality is his level but has successfully exploited various
‗NEVER SAY DIE ‗attitude. tools of media to promote its ideology. The
newly constructed website will further
Valuable Promotion propagate his unique concepts about water
Mr. Singh works for a mission and doesn‘t give management in the state. One can log on to
up until it gets accomplished. After his projects www.tarunbharatsangh.org for details and
in Alwar and other parts of Rajasthan he has latest updates on the organisation.
joined the Save River Ganga Campaign. The
World Watch report said that Ganga and other
rivers will run dry for a part or all of the dry
season by the year 2025. Tarun Bharat swiftly
took note of the issue and launched a
Snapshot of the website
nationwide campaign maintain an unaffected
flow of the river Bhagirathi in Uttarakhand.
Under the leadership of Mr.Singh, TBS
mobilized religious leaders, environmentalists,
media persons, political parties, NGOs etc to
highlight the importance of pollution and
encroachment free flow of River Ganga.
Rajendra Singh‘s brainchild Tarun Bharat is A person who has Mahatma Gandhi as his idol,
one organisation that works at the grass root DYNAMISM as his forte and HUMILTY in
his pocket has to be one in a million.
Author:
Era Jain
Innovative Indian This year, Nagpal, who first earned Rs. 5,000
off the internet at 13, started Limespace
teens turn cash rich Networks, a website-hosting firm that caters to
35 customers. A student of commerce and IT at
entrepreneurs MMK College in Mumbai, Nagpal has already
made it to a list of top international bloggers
aged 21 or under on Retireat21.com, a forum
for internet entrepreneurs.
By siliconindia news bureau
Monday,18 January 2010, 06:55 hrs Another teen entrepreneur is Mumbai based 13-
year-old Monik Pamecha, who runs a website
Bangalore: At a time, when teens are glued to etiole.com, a networking site for 'geeks' called
the computer screens playing games in the iluvtech.org and URL shortening service
virtual world, there is a new breed of Indian hop.im. Pamecha's sites are so popular that they
teens who are busy managing their own are regularly visited by Public Relation
ventures in the real world. For example, executives of gadget companies who deliver
Mohnish Nagpal runs a blog 'Sensonize.com,' their latest products at his doorstep in
through which he makes money online by anticipation of a review on his five-year-old
advising people on how to make money online. blog, Etiole. Pamecha has recruited 26 other
Coming back home after college, Nagpal starts authors from around the globe. Each gets paid
working at 5.30 pm when his target audience in from the advertising income generated by the
the U.S. wakes up and logs on to the internet, website traffic they attract. Apart from reviews,
reports Economic Times. Pamecha posts technology tips. Now, Pamecha,
a student of Lilavatibai Podar School in
Mumbai, is all set to launch a media-sharing
website also.
engineering and starting a business venture in Rs. 10 per hour and pocket money of Rs. 25 a
the manner of Silicon Valley start-ups. month, I needed to maximise every opportunity
I got," he says.
After being recognized as the world's youngest
certified professional web-developer at the age The first website Gopinath created was called
of 14, today at 23, Suhas Gopinath is the Coolhindustan. "But, of course, Hindustan is
Chairman and CEO of Globals, an IT much cooler today, thanks to the power of the
consulting firm that specialises in web-related youth," he says. During his entrepreneurial
services. Gopinath began his journey at an journey, Gopinath had to face several obstacles
internet cafe in Bangalore where he struck a to gain the confidence of companies, due to his
deal with the cyber cafe owner and offered to young age and the lack of academic
run the place during lunch if internet use was qualification.
made free for him. "With internet charges at
19
“Best4U”
Authors:
DIGAL TANMOYANANDA
NEHA KUMARI
KOUSER RAOTIWALA
ASHISH HARARKE
PIYUSH RAO
PRAVEEN KUMAR ASATI
BUSINESS CONCEPT
1. Origin of idea
India, the fastest growing country in terms of new mobile connections, adds near about 14
million users each month. India currently has 14 to 15 mobile service providers and many more
are expected to enter the market. After the launch of Mobile Number Portability and having
these many numbers of players, there will incur an extreme need of information regarding
which mobile connection/plan is best suited, which is the new plan brought up by the service
provider, where to go and pay the bill, where is the store which sell handsets and which is the
new handset in the market.
MISSION: ―To become a one stop portal for all telecom queries.‖
The idea behind the Business Plan ―Best4U‖ is all about providing the mobile or landline user
the information regarding the best plan available for him/her in the market which suits him
according to his needs/usage and the other information related to mobile handset and other
services.
This information will be provided to the registered (website) user on his mail ID or on his
mobile according to his choice fortnightly or on monthly basis.
The information provided to user will help him decide and choose the best option available in
this highly clustered market. This BPLAN is going to make life easy for cellular users and will
guide him with the correct information.
Target Customer:
Our potential customers will be basically all telecom users. Among which major target segment will be
Sales Strategy:
Our sales strategy for the ―Best4U‖ will be promoting a web portal which acts as a one point
information provider point.
We will be giving ads on Radio and newspaper as well as banners will be placed at major
places in the city.
We will be distributing pamphlets along with local and national newspapers.
To target customer from working class we will go for online ads.
We will be sending promotional messages on mobiles.
Mails will be sending to the selective number of customers.
Entry Strategy:
The time when Mobile Number Portability will be launched and 3G services will be in demand. Entry
of New Telecom Service providers into the Indian Market. This will be the time when the need of
information will be most and this will be the time for us to start our business.
Growth Strategy:
Initially we are planning to start our business with the information of Pune city and after one year we
will have information of Bangalore, Indore and Chandigarh. Within a span of 3 years we would like to
cover Metros. These cities have huge number of youth crowd and corporate along with high
teledensity which is our idea of target.
Target Market:
As on 30, November 09 India has 543.42 million Subscriber base (wireless + wire line). India adds
near about 14 million users each month. As on 30, September2009
Competitors:
Competitive Advantage:
Any of the stores or service provider‘s web portals currently present does not provide comparative
information. Our USP is customized information to individuals which will suggest him the best
available plan and the comparison along with other asked information. With the coming of MNP and
3G service and in some time when the NGN services will start, there will be number of new plans and
VAS available and the comparative information about it will be in demand which will give a great
advantage to our business.
There is no entry barrier as the market is open and anyone can collect the information and can design
the solution. Currently in cities like Pune and Bangalore we don‘t have any such service provider.
Exit from the market is also easy as after a period of a year or two we will have sufficient information
collected and data and experience available, which can be used to diversify the business or to sell it in
at a better price.
Revenue Model:
Our revenue model is fairly simple. We would be getting revenue from the advertisements and
Promotional messages which would be a part of information message. Every information would be
given in terms of either:
SMS: The SMS would have few characters dedicated for Advertisements which would be a
source of revenue.
Email: Every email will have promotional Advertisements embedded in the mail.
Other major source of revenue will be the % of charge collected by handset seller on the sale to
a customer informed by our portal.
Sensitivity Drivers:
Our model is sensitive to:
What an idea!
Cell Phone as tool to detect counterfeit currency
Source:
http://www.telecomtiger.com/fullstory.aspx?passfrom=topstory&storyid=8100§ion=S176
24
Team E-Spire invites article from B Schools all across India. We are looking for
original articles related to entrepreneurship. Students can also contribute puzzles and
jokes related to entrepreneurship. References should be cited wherever necessary.
Instructions:
SUBSCRIBE!!
Get YOUR OWN COPY DELIVERED TO INBOX
Drop a mail at sitm.espire@gmail.com
Thanks,
Team E-Spire:
Siddhant Jain
Kaushal Chhaya
Hemant Gavali
Navsangeet Kaur
Manisha Panda
Vinay Acharya
Neha Isawe
Ayushi Patni
Devika Atkare