A business plan
workshop was conducted on Thursday at IIM Raipur by Mr. Shantanu Bhagwat, a
leading venture capitalist and advisor, who is associated with firms like
Myntra.com, Elements Akademia, and MilkMantra. Mr Bhagwat had taken similar
workshops at institutes like IIM Indore and IIT Bombay. This workshop was
organized to promote and instill the spirit of Entrepreneurship across the
state. Mr Bhagwat helped participants to conceptualize new ideas and
opportunities that are emerging.
The whole
concept of the workshop was to explain students about the compilation and
presentation of a business plan in an effective mannerso as to attract funding
from venture capitalists when starting a business of their own.
It started off
with the basic understanding of entrepreneurship andhow to decide on whether
can one become an entrepreneur or not.In the words of Tarang Singhal , a
student attendee “ Mr. Bhagwat actually helped us figure whether we can become
entrepreneurs or not.”
Mr. Bhagwat told
that entrepreneurship is not glamorous, most of the startups fail and most of
the entrepreneurs are not rich when they start. So he told that
the basic requirement of an entrepreneur is the ability to take risks, one
should learn the skills of managing risks rather than being averse to it. Rahul Khedkar, a
first year student of IIM Raipur, said “Mr Bhagwat helped us in knowing
practical problems in entrepreneurship and how to tackle them.”
He explained the
importance of understanding the perspectives of the audience of the business
plan. The plan should effectively communicate the benefits to the investors
because no one is interested in doing charity. A good investor not only brings
money but also value to the venture.
He also talked
about the constituents of a good business plan.The plan should necessarily have
a competitive landscape, industry analysis, risks and the mitigating factors.
The plan should tell about the opportunities and the idea in a clear and crisp
manner. He demonstrated all these necessities with appropriate examples.
He also
suggested that there should be direct quotes and references from various
resources and all the facts should be backed by statistics. In the words of
Manu Dhunna, another attendee from IIM Raipur, “ A case study was solved during
the workshop which helped us in learning from the real life story of an
entrepreneur.”
The cases
discussed were confidence boosters for the audience as they could actually
relate the workshop with their real life experiences. Mr. Naresh Verma
, a member of CII Chhattisgarh remarked , “ After attending the workshop I have
gained confidence to expand my business.”
Mr. Bhagwat
talked about the importance of efforts required to be put in the next 15-20
years by budding entrepreneurs as this will be a crucial
phase in the growth story of the nation.Prof. Sanjeev Prashar, Chairman of
Placement Committee at IIM Raipur thanked Mr. Bhagwat for conducting the
workshop at IIM Raipur campus and in helping participants understand the idea
of entrepreneurship so that more jobs can be created in the state and the
nation at large.
