“Business Model: Getting it Right”, a workshop for start-ups and budding entrepreneurs, was hosted by Jaipuria Institute of Management, Jaipur on 9th November 2013. The workshop was organised by Tata First Dot (TFD) powered by the National Entrepreneurship Network (NEN) and aimed at helping participants assess opportunities they come across in life and turn them into a winning business plan. Clearly, the theme proved to be a hit with participants as they turned up in large numbers from 13 campuses in Jaipur and Hissar.
Jaipuria Institute of Management has always strived to promote leadership and entrepreneurial qualities among its students. The workshop seemed to be in tandem with this goal and helped participants understand the perspective that investors have when putting their money in a start-up. The importance of creating a business model that not only works for an enterprise, but for the investor too, was also stressed upon during the workshop.
The organisers had done their best in putting together a workshop that had eminent industry personalities sharing their ideas and experiences with the participants. Ms. Preeti Singh (Network Manager, NEN) and Dr. Sheenu Jain (Chairperson, Centre for Entrepreneurship & Skill Development, Prayaas) at Jaipuria Jaipur were at the helm of the workshop and ensured that the participants stayed highly motivated and engaged through the day’s proceedings.
Dr. Jain set the ball rolling by talking about the emotions that all new entrepreneurs and start-ups go through. She hit the nail on the head when she said, “We get married to our ideas. We don’t even think about whether they are really feasible or not. There is no such thing as a good idea or a bad idea; you should work on your idea and see how it can be developed further by using a structured framework.”
The realistic and practical approach towards start-ups was taken forward in the panel discussion chaired by S. Mahatha (Area Manager Commercial Vehicles, TATA Motors). Mrs. Archana Surana (Founder, Arch Academy of Fashion) and Mr. Ajay Datta (Founder, Data Infosys Limited) were the other members on the panel and they sought to address the key challenges that are often faced by start-up companies.
Through their vast experience in the field, the panellists offered valuable insight and suggestions to participants, who seemed to lap them up. “We all are Limited Edition people and it’s up to us to decide whether we want to follow money or whether we want the money to follow us,” said S. Mahatha, amidst huge applause from the audience. Mr. Datta was of the opinion that entrepreneurs needed to have hearts of steel, and he expressed a wish that the participants would work on that.
Mrs. Surana, on the other hand, believed, “In entrepreneurship, you should have an attitude of giving. You should keep on trying and working on your idea, talk to people, explore your idea and refine it.” Dr. Jain then went on to talk about the work carried out by Prayaas and how through different initiatives it tries to inculcate entrepreneurial skills among students.
The learning from the workshop was given a practical turn when three start-ups presented the challenges faced by their ventures to the panel. It was a unique open mentoring session that ended up being a huge learning experience for participants. The highly successful event ended with the seal of approval from Dr. Prabhat Pankaj, Director, Jaipuria Institute of Management, Jaipur, who appreciated the efforts of Tata First Dot and NEN in conducting a workshop that had a lot to offer to its participants.