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Published byRandolf Hicks Modified over 9 years ago
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THE ART OF STARTING BY SACHIN UPPAL ROLL NO- 8063
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Five most important things an entrepreneur must accomplish : Make meaning Make mantra Get going Define your business model Weave a MAT
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Make Meaning Entrepreneurship begin with a process of self-examination. Meaning is not about money, power, or prestige. The meanings of “meaning” are to Make the world a better place. Increase the quality of life. Right a terrible wrong. Prevent the end of something good.
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Make Mantra Mission statement of an organization. No success- No money- No mission statement.
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Starting it correctly You should always be selling—not strategizing about selling. It’s not how great you start—it’s how great you end up. Observe these key principles of getting going: Think big Find a few soul mates Polarize people Design different Use prototypes as market research
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Define Your Business Model To do this you need to answer these questions: Who has your money in their pockets? How are you going to get it in to your pocket? They are a useful way to consider the reality of starting an organization.
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Weave Your MAT MAT stands for Milestones Assumptions Tasks. There are seven milestones: Prove your concept. Complete design specifications. Finish a prototype. Raise capital. Ship a testable version to customers. Ship the final version to customers. Achieve breakeven.
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Tasks They are necessary to build an organization. They include: Renting office space Finding key vendors Setting up accounting and payroll systems Filling legal documents Purchasing insurance policies
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Thankyou
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