IIT-E-Cell

E-Cell Meting: 7 th Feb. 2009
Session 1 = Kanwal Rekhi Vishal Gondal Arvind K singhal

Stability >< Dynamism

New Wealth Creation
Manager = Stream Liner -- Maximiser

Entrepreneur = Disrupts – Inertia

Entrepreneurs are heroes in USA
1 to 2 % have Entre.ship in genes.

1st Step = Leave job
Entre flourish when world changes rapidly
You need David Jackso to destabilise
Don’t fall in love with idea- Process is imp.
If you fall 7 times , get up 8 times.

Vision & Passion.

Like leopards.. Watch the prey & jump.Evolve—road on mountain-stay on road.
Value creation not valuation.Having a dream with sense of erality.
How do you measure progress? No star & no end. Keep challenging yourself.
One has got to be rudely honest with oneself. As to what you can & what you cannot.

For Entrepreneurs-Upside is unlimited,Downside is limited.

Great use of Washing Machine was to make Lassi.You have to find your awshing machine.

Entre must own up . Rationalising does not help, it is fior executives,

28 to 35 is the best age for Entre right upto 40.

Important thing is to provide something faster , cheaper , better. If you can’t do that, you should not be in business.

How to keep people motivated?
1) Quick success
2) You have to provide a big cause e.g. In India gaming needs to be No. 1 Entertainment(It is already so in USA & EUROPE)

Just having an idea is not enough, you have to provide a Business-case

Einstein does niot become Business-man. Business is for Hasslers.

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Panel Discussions- HOW TO SUSTAIN A STAR_UP?
GANESH-Tutor-vista
Satya
Gaurang

Investors & risk-takers are different
Presently we have to invest in consolidation.
1) Don’t plan dramatic growth
2) Runway has to be widened/exetnded

How to economise? SATYA
1) Item line by line analyse.
2) Human cost erduction
3) Reduce working capital
4) Use vendors as Financiers
5) Salesmen analysis-Who contributes to positive & negative sale?
6) Rethink business model

GANESH=
Today , to get capital for greenfield plan or paper plan is very difficult

For a running business – b. model has to be hardcore

INVESTOR-Jasmin shah
Portfolio-Cash is King
Details like travelling , Entertainment / Technology
Renegotiate everything


HOW TO GROW REVENUES?
If you look at 2 things- Incentives & accounts… You get idea of the Company

If somebody does not generate 1.5 to 2 times of cost as sale---NOT WORTHWHILE TO ENGAGE

Also gestation period to fructify the sales.

GANESH- USD 30 to 40 per hour normal cost

USD 100 per month =Tutorvista

Now instalments of USD 50 each


CORE MESSAGING- who you are?
Employees to be motivated. Even small successes to be celebrated.
Take into confidence

You can give 3 things to employees-Work , Love & Hope

How to manaeg cash-flow?Advertising is under water.
Entre-Attractive to give, difficult to get.

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Session 3 -