Business Plan Preparation – Idea Evaluation

The BMS students of IndSearch, on 22nd July 2017 were given the golden opportunity to interact with Dr Vikas Peshave, a professional with 28 years of work experience. He has also been awarded with the title of Certified Mentor jointly by National Entrapreneurship Network, Stanford University U.S.A. and London Business School.

To begin with, Sir asked the students how they perceived entrepreneurship as a concept. He then explained how entrepreneurs are not necessarily only business owners, but idea developers in any field.

To inspire the students to become successful entrepreneurs, Sir gave a very important guideline and checklist for the students to adhere to. This included a set of 5 very important questions that have to be answered satisfactorily. The questions are as follows:

  • Which customer problem will my product solve? How critical or painful is the problem?
  • Who will buy my product?
  • What is my business model?
  • What is unique in the product?
  • How are you going to defend your product?

To motivate the students even more, Peshave Sir gave the students an example of Hivare Bazaar and how the place was transformed into a developed place. This gave the students an idea of how entrepreneurial skills can bring about a drastic transformation.

Later, to put students into action, Sir made the students come up with new product ideas and classify them as good or bad based on the guidelines he had provided.

This interactive session really gave the students a different outlook to working and will definitely help them develop working skills in a different way.