Application by Financial literacy and Entrepreneurship

Who is an entrepreneur?
An entrepreneur is a person who
starts a business based on a new
idea, taking financial risks in the
hope of earning a profit.
 Qualities of an entrepreneur

Innovative
Visionary and
a leader
Flexibility
Confident
Optimistic

Risk bearer
Open minded
Rewards

• Control
• Excitement
• Freedom
• New skills
• Rational income
• Impact
Risk involved
No steady income

No personal time Investing personal

and health savings

Interest in your Success – An add on

product responsibility

Emotional risk
What is entrepreneurship?
Entrepreneurship is the process of setting
up a business, taking it from an idea to
realisation. It is the ability and readiness
to develop, organise and run a business
enterprise, along with any of its
uncertainties in order to make a profit.
Let’s begin with the journey
towards Entrepreneurship!!!
Application by Financial literacy and Entrepreneurship
Steps towards entrepreneurship

Step 2: Business
plan Im
e ss pl St
s in bu em ep
Bu sin en 3:
1: dea e s t at i
t ep i s p on
S la o
n f
 Introduction to Business Idea

An idea is the first milestone in

the process of building a
successful business.
The important characteristics of
a promising business idea are
Innovation, sustainability,
scalability and so on.
 Business Idea

Innovation:
Innovation means generating a new idea with which you can start a business
and achieve a substantial amount of profits. Innovation can be in the form of a
product, i.e., launching a product that no one is selling in the market.
Innovation means “doing new things or doing the things that are already being
done in a new way.”
 Business Idea

Sustainability:

Sustainable entrepreneurship refers to discovering,

creating, and utilising entrepreneurial opportunities that
contribute to viability by generating social and
environmental gains for society.
Business Idea

Scalability :
Scalability allows a business to grow
and generate revenue without being
held back by its structure or lack of
resources. As a company's sales
volume increases, it can maintain or
boost its efficiency.
Business Idea

SWOT analysis – where you

assess the strengths,
weaknesses, opportunities and
threats of your business and
competitors.
 Business Idea
Sectors to be mentioned for the business idea.
• Health sector
• Pharmaceutical sector
• Banking sector
• Educational sector
• Technology Sector
• Lifestyle Sector
• Beauty and Skincare sector
• Other sectors
 Business Idea

Reason for selecting the sector of the business:

• The key problem of the business selected.

• Inspiration to choose the business.
• The pieces of evidence to support the research work done.
 Business Idea

• Define your business and its objectives.

• The nature of the business idea.
 Product Based
 Service Based
• A description of the goods and services you want
to deal with.
 Business plan meaning
 A business plan is the formal written expression of the
entrepreneurial vision, describing the strategy and operations
of the proposed business.

 A business plan lays out a written road map for the company
from marketing, financial and operational standpoints for
achieving the business goals.

 A business plan is a document that brings together the key

elements of a business that include details about the products
and services, the cost, sales and expected profits.

 It is a blue print of business model.

 Business plan

• Business
structure.

• Financial • Selling
Plan. Strategies.

• Marketing
Strategies.
 Business plan may include:

Business structure.
• The rationale of why the business idea is unique.
• Impact of the business on society at large.
• Impact on the social and environmental cause.
• Proposal for the sustainability of the business.
• Reason on why the brand will stand out in the market.
• The value of the business/company after 5 years, projection and
forecast.
• Company name and logo: the reason for choosing the same.
 Business plan
Business Structure:
Organisational Structure
Teacher Managing Director – Governing body 1

Students Chief Executive Officer (CEO) 1

Chief Operating Officer (COO) 1

Chief Financial Officer (CFO) 1

Chief Technology Officer (CTO) 1

Chief Marketing Officer (CMO) 1

Group Members 7

Total 13
 Business plan

Selling Strategies:
• What your core product or service?
• Who are your main customers?
• Why they should choose you and your product or service
over your competitors?
• How will you sell your Product and services?
 Business plan

Marketing: Marketing is a strategy that businesses do

to advertise their businesses. Every
business entity needs to understand such
a strategy and how to employ it.
• Marketing helps to boost the sales.
• Marketing creates revenue options.
• Set better goals for your business.
• Build a Reputation for your Brand.
• Improves Decision-Making.
 Business Plan includes:

Market Research and Analysis:

• Who are your customers?

• Who are your competitors?
• What’s the size of the market you will serve?
• How will the market grow in next few years?
 Business plan

Marketing Strategies:
• Know your Buyer’s tastes and preferences.
• What is your Marketing Budget?
• What are your Performance Goals?
• What’s your Unique Selling Proposition?
 Business plan
Financial source:
• Capital is cash, machinery,
equipment and other resources
invested by the owner in the business.
• Banks and other financial
institutions provide loans.
• Investors ready to invest in your
business for part ownership.
 Business plan
Financial Plan:
• What are your projected sales weekly, monthly,
quarterly and yearly?
• What will your cash flow look like – Credit and Cash
transactions?
• How much profit do you expect to make monthly and
quarterly?
 Implementation of Business plan

Implementation of plan:
• How will you put those plans into action?
• What milestones will you use to show progress in
your plan?
Various types of startups or business

• Sell Hand made products like soaps,

candles, creative paper bags.
• Sell digital products like eBook’s, videos,
music.
• Become a You tuber and create your own
content.
• Sell your photographs online.
• Publish your own books.
• Become a social media influence.
• Dance Choreographer
Various types of startups or business

• Sell zero-waste products.

• Create custom clothing.
• Start a virtual event planning company.
• Become an online coach.
• App developer.
• Logo designing.
JOURNEY TO BE A FUTURE BILLIONAIRE

Level #1: Formation of groups

Level #2: School-level selection

Level #3: Selection by the Angels

Level #4: Final Selection by the Chairman – Mr Raghav Podar

Level #5: Implementation of Business Models

Level # 6: Performance Analysis

 Annexure 4: Pointers for the selection of Business Model : Level #4
 What are your business goals?
o Short term goals
o Long term goals
o Financial goals
o Employee development goals
o Problem solving goals
o Social impact
o Environmental impact
 Who is your target audience?
 What will be your positioning in the market in the beginning?
 How big is the market in this segment?
 How much market can you cover?
 Annexure 4: Pointers for the selection of Business Model : Level #4

 How much has been covered by the competitors?

 How will you ensure repeat orders or purchases from your current buyers?
 How are you going to reach out to your audience?
 How will you manage your income?
 What are the top three resources required to start your business immediately?
 How will you allocate the investment amount to production, marketing and reserves?
 What research did you conduct to get more information about your business idea?
Explain the techniques used for your research.
 Which sales promotion techniques will be used? Explain the same in detail.
 Annexure 4: Pointers for the selection of Business Model : Level #4

 How much money will be allocated to reserves?

o Capital reserves
o Revenue reserves
 What will be your marketing plan?
 Explain the cost structure.
 What will be the pricing structure of your product or services?
 Compute the expected gross margin.
 Compute the expected net margin.
 State the capital required for the commencement of the business.
 How much money will be allocated to reserves?
o Bank
o Financial department
o Others
 Marks
Parameters Maximum score
Obtained

Market/Scope of market 10
Potential/Vitality of ideas 10
Ease in Business Model 20
Costing Structure 10
Profitability 20
Sustainability 10
Uniqueness in Problem solving 10
Brand position 15
Marketing plan 15
Ease in Diversification 10
Year on year growth plan 10
Social impact 5
Environmental impact 5
TOTAL 150