EP101x – Do Your Venture | Prof.

Suresh Bhagavatula
Week 2

Hi everyone and welcome to week 2.

This is the week where you are going to spend a lot of time looking for ideas for your venture.
Let this be a fun week.

We are going to introduce you to multiple techniques that you could leverage to come up
with this large list of ideas, please spend time, please take this exercise very seriously, even if
you've already had a venture that you would like to take forward.

So here is what I suggest, there are two kinds of people.

So, one set of people, who have no idea as to, what they would like to do? And therefore, this
particular week is going to be quite interesting for them.

But there would be another set of participants who are coming into the course with a
definitive idea of what is it that they would like to start with?

For the second set of people, I would urge you all to complete this exercise, as seriously as
possible, because you never know in this process, you may come up with an idea better than
what you currently have, or you may come up with the flavour of the idea that may be
interesting for you.

Welcome to week-two.

Meeta Varma: Talking about the ideation process I think it’s a very crucial process whether
you have an idea, or you have multiple ideas, or you have no idea at all. Better devote yourself
completely to the process to come up with the right idea.

Anushka Shetty: There should be a good balance between what you think you're good at?
What you think you want to do? And what the world thinks you should do? What I mean by
that is, when I started off, you have certain ideas on what you think will work? You may have
no skills or no idea of that particular domain, but you still think that, that domain seems to
have a lot of scope. You know, like you have these random notions in your head, for example,
AI or ML and you know it seems to be the in thing, it seems to be the hard topic trending or

© All Rights Reserved, Indian Institute of Management Bangalore

 EP101x – Do Your Venture | Prof. Suresh Bhagavatula
Week 2

like IOT, you really have no skills in it, but you think their scope and therefore you want to do
it.

The other thing that can happen is, you think you are really good at something, but you don't
really, you haven't really ever tested it out or worked at it. So, to balance all of that out, you
need to take a very practical approach. So, when you generate ideas it's a very, very important
to think, who you really are? What are your skillsets? And also, who is in your ecosystem?
When I say who is in your ecosystem, it's extremely important to dip into your networks ,
because entrepreneurship is pretty much about that. How much can you spread? How much
can you dig in, to the people who you already know? Therefore, I would strongly recommend
when you're thinking of random ideas check on these three boxes; Who you are? What you
know? Who you know? Extremely important.

© All Rights Reserved, Indian Institute of Management Bangalore