By ARDHENDU SAHA MBA-2010 REG NO-8011 AMITY GLOBAL BUSINESS SCHOOL

THE BIG IDEA The Art of Start offers a definitive guide for anyone who dreams of starting anything. The Art of the Start will provide with everything an individual need to know from raising money to fostering a community.

Five Important Thing An Entrepreneur Must Accomplish Make Meaning Make Mantra Get Going Define your Business Model Weave a MAT

MAKE MEANING The best reason to start an organization is to make meaning. Meaning is not about money, fame or power. Instead, meaning is about making the world a better place, increasing the quality of life, righting a wrong and preventing good from ending.

Meaning of Meaning Make the world a better place. Increase the quality of life. Right a terrible wrong. Prevent the end of something good.

MAKE MANTRA Instead of a mission statement, take your meaning and make your own mantra. A mantra is defined as a sacred verbal formula repeated in prayer, meditation, or incantations such as an invocation of god or a magic spell. Examples of mantras include Disney’s “Fun family entertainment”, and Nike’s “Authentic athletic performance.”

Examples of Some Good Mantra Authentic athletic performance (Nike). Fun family entertainment (Disney). Rewarding everyday moments (Starbucks). Think (IBM). Winning is everything (Vince Lombardi’s Green Bay Packers).

GET GOING Start creating your product or service and commence delivering to your customers. Forget about writing long business plans or creating complicated financial projections. Instead build your prototype and launch your website.

Key Principles of Get Going Think Big Find a few Soul mates Polarize People Design Different Use prototypes as marketing research

DEFINE YOUR BUSINESS MODEL Define your customers and their needs. Come up with a sales mechanism that will earn you more money than what you are spending. Three principles to develop your business are Be specific, Keep it Simple, Copy Somebody.

WEAVE A MAT (Milestones, Assumptions, and Tasks) Compile a list of the milestones you need to meet, assumptions that are built into your business model, and the tasks you need to accomplish to create your organization.

MILESTONES Prove your concept Complete Design Specification Finish a prototype Raise Capital Ship a testable version to customers Ship the final version to customers Achieve Break-Even

ASSUMPTIONS Product or service performance metrics Market size Gross margin Sales calls per salesperson Conversion rate of prospects to customers Length of sales cycle Return on investment for the customer Technical support calls per unit shipped Payment cycle for receivables and payables Compensation requirements Prices of parts and supplies Customer return on investment

TASKS Renting office space Finding key vendors Setting up accounting and payroll systems Filing legal documents Purchasing insurance policies

THE ART OF INTERNAL ENTREPRENEURING Large number of aspiring entrepreneurs currently work for big companies. Internal Entrepreneur must innovate, position, pitch, write business plans, bootstrap, recruit, raise capital, partner, establish brands, make rain, and be mensches.

RECOMMENDATION FOR INTERNAL ENTREPRENEURS Put the Company first Kill the cash cows Stay under the radar Find a Godfather Get a separate building Give hope to hopeful Anticipate, Then Jump on, Tectonic shifts Build on what Exist Collect and share data Let the Vice President come to you Dismantle when done Reboot your brain

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