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Issue 5.0

EMPOWERING THE ENTREPRENEUR IN YOU Celebrating E-week!!

Every year a huge number of colleges participate in the quest for discovering and nurturing young entrepreneurs. The National Entrepreneurship Network (NEN) leads this stupendous cause by organizing an interactive week of business related fun and learning called EWeek. Over 650 institutes encourage more than six lakh students to participate in various events throughout the week giving them the unique opportunity to reflect on their role as future leaders and innovators. Ever since its inception in K.J.Somaiya Institute of Engineering & Information Technology, Entrepreneurship­Cell has been  actively  involved  in  the  annual E­Week celebrations. E­Cell  strives to achieve NEN’s vision by engaging several aspiring entrepreneurs in the world of business through a variety of events which include Campus Companies, E­movie screenings, Technopreneurship workshops, interactive seminars and several competitions. The E­Team 2012­13 put on an exemplary show at KJSIEIT that was full of amateurs exploring their talent and showcasing their aptitude for business through hands on entrepreneurial experience in crowd pulling events like Ammys, Andro­ Botics and Aluminati. E­Week’13 at E­CELL KJSIEIT brought together several of tomorrow’s leading business moguls and today’s enlightened entrepreneurs to relate, ideate and create innovation for India that will help us step into the future.

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1. How and when did you decide that you wanted to be an Entrepreneur? A. The day I realized that I’m not satisfied with my job; and the kind of work that I’m doing is not fulfilling any larger purpose was when I thought of starting my own business. It all started with the want to do something for myself. 2. Describe the growth stages of your business? A.  Protech since its establishment has always looked forward with a positive attitude for its betterment and growth. We have always tried to provide the best solutions and services for our clientele, and hugely rely on their feedback and response to keep track of customer service. 3. How did you manage to gather the funds required for your business? A. Firstly, businesses don't just require funds. There are several factors that have to be considered while building a viable and strong business. A groundbreaking idea, interest in your work and foresight come before financial security. That being said, a starting capital will automatically follow if you have the passion to back your idea. 4. How do you market your company and products? (Initially without capital and in current situation) A. We are basically a service provider, so, since establishment we follow online and web marketing/advertising which reduces our expenditure and helps us reach out to several client bases to gain appreciable returns. 5. Earlier you were an employee, how has your life changed after becoming an entrepreneur? A. Life has changed for the better, I’m more relaxed and enjoy the work that I do. But the best part about running your own business is meeting new challenges and overcoming them to prove yourself. 6. Today we hear many youngsters saying that they have a great idea but lack the necessary capital or skills or manpower, what would you like to say to them? A. If you have an idea, you can do it. Don't just look for capital or human resources; these are simply the embellishments for your business. Yes, you may be lacking in some of the skills, but these skills can be acquired or hired. Proficiency comes through experience; and Experience comes through Implementation. So it's better to Implement­Experience­Learn rather than to just think of an Idea.

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- The process of finding and hiring the best-qualified candidate (from within or outside of an organization) for a job opening. - Return on investment. The proceeds obtained from selling the investment of interest. Administrative discipline of hiring and developing employees so that they become more valuable to the organization. – The amount of money a company needs to earn to equal its running expense. Once this amount has been earned, the company starts making profit. – A company that attempts to gain an unchallengeable, privileged market position by being the first to establish itself in a given market.

He had the honour of being India's first pilot; was Chairman of Tata & Sons for 50 years; launched Air India International as India's first international airline; and received India's highest civilian award, the Bharat Ratna in 1992. J.R.D Tata was the second child of Ratanji Dadabhoy Tata and his French wife, Suzanne. As a child, his education was often disrupted due to his family’s constant movement from France to India and back. Though he missed his college education, he undertook his own education after office hours, studying books on various aspects of business. He joined Tata & Sons as an unpaid apprentice in 1925. In 1938, at the age of 34, J.R.D was elected Chairman of Tata & Sons making him the head of the largest industrial group in India. He started with 14 enterprises under his leadership and half a century later on July 26, 1988, when he left, Tata & Sons was a conglomerate of 95 enterprises which they either started or in which they had controlling interest. He founded India's first commercial airline, Tata Airlines in 1932, which became Air India in 1946, now India's national airline. When he was in his early twenties, while recovering from typhoid, he would come to his room at the Taj, throw himself in bed and study. When his sister pleaded, ' Why don't you rest Jeh, you are tired and unwell,' J.R.D. replied, ' I want to be worthy of the Tatas.'

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Making Your Own A workshop with Mr. Uday Wankawala at E-CELL KJSIEIT When it comes to entrepreneurship, most of us think of a formidable business mogul who was probably born into his job or received state of the art management education. It’s because of this mindset that we often undermine our ideas and don’t even considering giving them a second shot. The truth of the matter is the difference between a good idea and a good business is a rock solid, thoroughly researched, worked upon Business Plan.

With this in mind, before E­Week’13 began, E­CELL KJSIEIT decided to invite Uday Sir, who is our associate with the National Entrepreneurship Network (NEN) to share certain insights of B­plan making. The session covered everything from idea generation to opportunity identification and budget analysis for a B­Plan. The workshop propelled students to think like entrepreneurs and produce ideas that can create commercially viable solutions for today’s social and technical problems.

Key Learnings: ● Test Drive your Idea. Every B-Plan begins with an innovative idea. No matter how different or crazy an idea may seem, you can convert it into a successfully running enterprise by simply working on it! ● The 3C’s of your Business. Before you establish a business there are three important factors you need to thoroughly research. Customers-CompetitionCompetence. You need to have a clear picture of your potential client base, your present or future competition and your acquired or hired skills set.

● What Investors look at? You’re making a business plan which will help you appeal to as many investors as you can rope in. The three parameters every potential investor will scrutinize are, team composition, revenue projections and network. You need to show how well prepared you are to undertake tasks, reach out to the masses and ultimately earn money. ● Plan B. You’ve come up with an entire BPlan after shrewd analysis and exhaustive

.... n a l P Bs!! s e c o I n pr

research. But you’re not done yet. They call it the volatile world of business

because it truly

is unpredictable. You need to have a plan B to tackle unforeseen circumstances. A different yet equally effective method which will help you set up a business. Only then will you have a full proof Business Plan.

Editors:

Designers:

Ankita Rajadhyaksha

Anagha Shinkar

Sonal Joshi

Namita Raut

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