TOPIC: NEO ENTREPRENEUR STRATEGIES

PREPARED BYIMK KUNDARA VISHNU.P ANISH .AR DHANU .SJ MOB: 9995872496 9645386677

. More young entrepreneurs have been come up. The recent entrants in the field of industrial organization are intrapreneurs who emerge from within the confines of an existing enterprise. But an intrapreneurs who enters a full-fledged enterprise and who is having higher education. The strategies discussed here can be adopted both by a new entrant into the market. enters as a highly specialized person. as its accountant.ABSTRACT Present scenario is that entrepreneurs are having a favourable climate for starting a business and there have been a lot of successful entrepreneurs too. office manager and finance controller. This presentation focuses on the strategies adopted for successful new entry of an entrepreneur and the growth of the entrepreneur. The entrepreneur who is lacking in higher education is always prepared to work on behalf of the enterprises.

Willingness to fail 5. Hirachand. Strong sense of basic ethics and integrity 4.ENTREPREUNER An entrepreneur is an owner or manager of a business enterprise who makes money through risk and/or initiative. Strong leadership qualities 2. Birla and many others is the history of modern entrepreneurship in India. and traditions of Indian people. Highly self-motivated 3. who has the initiative. The history of Indian business house of Tata. Understand the value of a strong peer network History The early history of entrepreneurship in India is reflected from the culture. Competitive spirit 8. However India famous for its brilliant people never lacks innovators. . Serial innovators 6. Basically an entrepreneur can be regarded as a person. Krilosker.many invaders came to India because India provide most luxurious item to the existing world It is the Britishers who. skill and motivation to set up a business or an enterprise of his own and who always looks for high achievement TRAITS OF A SUCCESSFULENTREPRENEUR 1. for their ulterior motives force fully destabilized the then self sufficient Indian economy. Know what you don't know 7. The “balijatra” festival being held at Cuttack ever year is the reminiscence of past glorious international trade of Orissa people . customs. Walchand. Ambani.

tour operator market opportunities such as construction services that make homes more senior- .Recent trends 1.4 million. making the total $12 billion. a record. and that by 2020. says Toon van Beeck. to $114. by the end of 2014. will be better than ever. travel agencies will bring in 3. supermarkets with lower shelves and wheelchair-compatible shopping carts. 2. domestic trips will rise 1. A lead researcher at Boston College's Sloan Center on Aging and Work. and sales and tech support by phone for seniors. Rockefeller once declared. employers will have to consider alternative work arrangements and other ways to accommodate them." A plethora of industry reports indicates that travel and tourism are back. Some experts even expect a boom in entrepreneurship as healthcare reform takes effect. and. rather than travel the worn paths of accepted success. you should strike out on new paths.7 million. consider this set of glowing forecasts for 2014: International trips will jump 5.4 trillion.5 percent. senior analyst at research firm IBIS World.2 percent.3 percent more revenue. "If you want to succeed. 80 percent of North American-born workers will be older than 50. Revenue is expected to reach nearly $1. A recent study by the Center for Work-Life Policy found that 62 percent of working boomers expect to stay in the labor force for at least nine more years. John D. to 627. Travel and tourism . to 94. by seniors. As boomers age toward retirement. Retired age group The 76 million-strong demographic is making headlines for providing a slew of friendly.8 billion. hotel revenues will go up by 4.4 percent.

private online shopping? The first to really socialize were online flash sale sites. heavy Face book users spent an average of $67 online during the first quarter of the year--compared with less than $50 for the general netizen. These sites rely heavily on online conversations to drive sales. Net marketing Nearly half of all Americans are now members of at least one social network and spending more money while they're at it. because a recent Media Post study revealed that 59 percent of consumers rated "personal advice from friends" as the most influential source of information for their purchase decisions.5 billion. Rue La La and Daily Candy‟s Swirl mimic designer sample sales. Research shows that social media users spend.7 billion. Smartly so. according to recent research. From these reviews we can find that their in a good trend for tourism in recent years 3. Sites like Gilt Group. . to $4. and even the RV parks and campgrounds industry will experience a 1.Revenue will grow 5 percent. brands or products on social networks. In fact. Gone are the days of one-way. and 51 percent of Twitter users reported they follow companies. on average. one and a half times more time online than the typical web surfer. to $3. where steep discounts are offered to members for a limited time. offering luxury fashion for a fraction of the price. double from just two years ago. E-commerce has gone social.5 percent revenue increase. HauteLook.

Recovering Bust out the recycle bins and reusable packaging. Best of all. Even corporations and the government are in on it. has devised an energy-efficiency "modlet" to regulate outlet power and shave as much as 20 percent off energy bills (it should pay for itself in six months).4. Chili's restaurants.7 million annually. Clear Edge Power offers a fuel-cell powered energy system that benefits smaller commercial establishments (one hotelier has lowered utility costs by 25 percent and carbon dioxide emissions by 36 percent). up from 8 percent in 2008)--but something far more relevant is brewing on the ground level. Think co. Sure. If you're not thinking about all the ways to go green. you're way behind the curve. one of ACRE's tenants. plenty of clean-tech companies are trying to make money by saving other businesses money. and federal agencies will spend $19 billion by 2015 on technologies like cloud computing and green hardware to reduce energy consumption . for instance. are installing LED lighting to save an estimated $3. clean-tech has been the darling of the venture capital community for a few years now (the sector nabbed $424 billion in 2009 and received 17 percent of all angel investment last year.

demographics. For e.  New geographical market This simply suggests selling the existing product in new locations. and Indonesia. and the entrepreneur attempts to penetrate this product or market further by encouraging existing customers to buy more of the firm‟s current products. its first sales. Thailand. Different combinations of different levels of this types of knowledge in the figure and provide a model of different growth strategies the growth strategies are     Penetration strategies Market development strategies Product development strategies Diversification strategies Penetration strategies Penetration strategies focus on the firms existing product in its existing market. .STRATEGIES A successful new entry provides the opportunity for the entrepreneur to grow his or her business.g. and built upon. New groups of customers can be categorized in terms of geographic.We use this basis for deciding on the best place to do for opportunities to grow the business. Market development strategies Market development strategies involve selling the firms existing products to a new group of customers. For eg a firm selling its product in Singapore could start selling its product in Malaysia. Opportunities for new entry are generated by the knowledge by the entrepreneur and from organizational knowledge . and based on a new product use. introducing a new product into an existing market provides the opportunity to take market share from competitors. entry into a new market provides the opportunity to service a new group of customers and new organization has a chance to make.

An Analytical Approach to business Policy for Growth and Expansion.g.Growth strategies based upon knowledge of product/or market Existing Penetration Strategies Market Product Development Strategies New Market Development strategies Existing Product Diversification Strategies New Source H. the business could grow by offering the same product to a specific demographic group. For e. age.also there is . their education. Corporate strategy. For an entrepreneur that is currently selling the firms existing product to a specific demographic group. New York: McGraw-Hill.I Ansoff. 1965  New demographic market Demographics are used to characterize customers based upon their income. a studio currently produces and sells computer games to males between the ages of 13 and 17. and sex and so on. where they live.

 New product use An entrepreneur might find out that people use its product in a way that was not intended or expected. Even though both knowledge bases appear to be new. This knowledge is an important resource in coming up with a new product.Experience with a particular customer group is a source of knowledge on the problems customers have with existing technology and ways in which they can be better served. The ranks of successful entrepreneurs are filled with men and women who refused to stop believing in themselves despite the derision of others or heart breaking failures in the past. .an opportunity for this company to expand its sales by also targeting males between the ages of 24 and 32.  Never let adversity or failure defeat you Don‟t accept the limits others or circumstances place on you.  Buck the conventional wisdom Ignore those who say” it won‟t work” or “it‟s never been done that way”. some diversification strategies are related to the entrepreneur‟s knowledge. This knowledge of product use provides insight into how the product may be valuable to new groups of buyers. Product development strategies Product development strategies for growth involve developing and selling new products to people who are already purchasing the firms existing products . In fact there are three types of related diversification that can be explained through a value added chainFor a manufacturer the opportunities for growth from as follow  Backward integration  Forward integration and  Horizontal integration Ten strategies for a entrepreneurial success  Trust your gut Successful independent-minded entrepreneurs know when to trust their gut. Diversification strategies Diversification strategies involve selling a new product to a new market.

take action now. And sometimes complete face lift is in order. Go on a treasure hunt and find an undeserved niche In the business world.  Hit ‘elm where they aren’t? “Keep your eye clear.they are not afraid to give their business a major overhaul now and then to keep pace with changes in the market place. a shift in cultural or economic trends will create a new entrepreneurial opportunities.  Just start If you have a idea for a business truly believe it will succeed and are willing to push yourself harder than you ever have before. there are plenty of ways to get customers attention without spending money on advertising. That quality can help identify your competitor‟s vulnerabilities and shortcomings. The sharpest entrepreneurs have a knack for viewing the world from the perspective of their customers.if your gut is telling you this business idea is a winner. Whenever possible set your sights on areas that your competitors have neglected or ignored. The same holds true in the business world. . Many of profiled entrepreneurs recognized emerging consumer needs and desires that signaled new market opportunities.  Exploit your competitor’s weakness and make it your strength.  Save your bucks and get noticed without expensive advertising If your start up business is on a tight budget. there is nothing more exciting than finding an undeserved niche representing a lucrative market that everyone else has failed to spot and target.  Spot a new trend and pounce Often. and hit „elm where they aren‟t – that‟s all.  Never stop reinventing your company Top performing entrepreneurs aren‟t afraid to be take chances and keep expanding their product line . Some times that shift arises from advances in technology. then take the risk and just get started .

Believe that growth and opportunity for this nation‟s economy are inevitable. We hope you can apply them toward a new venture or use them in your existing business. . Use your imagination to identify market opportunities that others have overlooked. Look at the world through the eyes of an entrepreneur.Conclusion We hope that you will find these traits beneficial for your own entrepreneurial journey and adopt them to your own strategy for business. Believe in the power of your ideas and just start the pursuit of your own entrepreneurial dreams.