First Steps to Establishing a Successful Business

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Taking the first steps towards a successful business

To help the budding business graduates understand the phases of entrepreneurship development, Institution’s Innovation Council, Brainware University, conducted a workshop on Entrepreneurship Development Phases on December 24, 2020 at 4pm.

Our key speaker Ms.Sriparna Guha (Assistant Professor, Department of Management, Brainware University) initiated the discussion on the basic difference between entrepreneurs, businessmen and industrialists. She then focused on the entrepreneurial requirements, the prospects and possibilities which come with entrepreneurial ventures in the contemporary world. “Capital is a primary requirement if you want to launch a business. Generally we suggest first-time entrepreneurs to secure funding from government sources since the interest rates are relatively low,” she said.

She familiarized the participants with the essential steps required in order to launch a successful entrepreneurial venture. “One needs to be persistent, creative, and goal-oriented. The journey is going to be a tough one so you need to motivate yourself and your team,” she advised.

Guha suggested that the participants keep updating their skills to follow a realistic approach for achieving sustainable success in their business endeavors. She emphasized that it is important to recognize the gap in the market and the budding entrepreneurs should avoid “being a straggler to successfully capture the market”.

The speaker ended the discussion with a few case studies in order to motivate the students and advised them to “dream big, start small and act now”.