Ask the Expert | Business Plans: Getting It Right

Group Description:

A Business Plan precisely defines your business, identifies your goals, and serves as your firm’s resume. The importance of a comprehensive, well thought-out Business Plan cannot be over-emphasized. Much hinges on it: outside funding, credit from suppliers, management of your operation and finances, marketing of your products etc. To exactly determine what goes into it is, therefore, critical.To help you with this task, and answer any questions you may have, we have this week Amit Grover, Founder at Nurture Talent Academy.

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Discussion opens: Tuesday, May 10, 2011 | 10:00 am

Discussion closes: Friday, May 13, 2011 | 6:00 pm

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	Entrepreneurs Posted by Hitesh Jhanji 5 weeks 1 day Comments (0) \| Post a Comment
	frnds suggest me plz how to start a business i want more intrest in dat.. Plz suggest me frnds Posted by Bhanu Kothapally 38 weeks 2 days Comments (0) \| Post a Comment
	Sales and Marketing skills Posted by Sindhu Gopalakrishan 49 weeks 6 days HI, I have a startup business , an IT consulting firm. Need indepedent marketing consultants to h help me on the sales and marketing. Would appreciate inputs from friends from this group . Thanks Comments (2) \| Post a Comment Hi, I represent Valuemart Retail India Ltd, a Bangalore based company. Valuemart Retail offers B2C solutions, RFID Solutions, POS Technology, Smartcards and Web basedsolutions for Retail sectors. We are not into marketing, but provide technology solutions to get better customer satisfaction in the service you provide. It helps in retention of customers & creates loyalty. It helps in automation of many of your daily functions. It will bring down your workload. We have more than 25000 share holders in Bangalore as our company is listed in Bangalore & Bombay Stock exchange. We will be expanding our base, i.e people who can be your potential customer in the future. We would like you explore many more viable options which would benefit your company in the long run.To begin with we can start of by Listing your complete company profile in our portal.By doing so you can extend your reach to greater number of customers. As a start up company you will need to be as aggressive as possible & get more mileage. We can explore many more viable options if we can sit for a round of discussion. Hoping to hear from you soon. Take care Regards Prabhakaran 9844386213 Posted by Prabhakaran Krishnan on 28 Nov 2011 - 01:08:49 Hi this is Manoj Hujband i have just join this group i found topic sale and marketing topic for IT Consulting firm i just want you to help with some stuff or web addresses might be help u most in marketing,branding, sales etc some intresting information you will gate from here because i have also Software business startup same problem i have getting during my startup but i got some of the good stuff from here Software Business Blog 1) http://blog.avangate.com/5-tools-to-boost-software-sales-in-2011/ 2) http://www.softwareceo.com/page/softwareceo- industryresearch;jsessionid=22C45E5A1CC501A8FD9BCBC2C8C8DB04 Thank you Posted by Manoj Hujband on 07 Jul 2011 - 01:24:58
	How to find the data for writing a business plan? Posted by Tejas Bhavsar 1 year 2 days Hello I am Tejas Bhavsar from Mumbai. I have started a Education startup company, Signa Education. I am not an IIT or IIM graduate, therefore my expertise on raising fund through VC or Seed funds is very limited. Comments (5) \| Post a Comment Thanks Sir , I will always think How to match the working style with the IIT/IIM graduate by learning not reading in IIT/IIM (which is not possible now) vimal amrev Posted by Vimal Amrev on 26 May 2011 - 07:40:09 Realy helpful advice now I can improove my Business Imagery(Business Plan), I call it. vimal amrev Posted by Vimal Amrev on 26 May 2011 - 07:36:41 IIT, IIM has nothing to do with entrepreneurship or business. Just believe in yourself, and if you feel you lack something (IIT/IIM name), then do something about it rather than procrastinate. After 30 years, you should not tell yourself that you did not become an entrepreneur because you did not have a IIT IIM tag. All the best, Amit Posted by Amit Grover on 21 May 2011 - 03:32:49 Hi Tejas, Business Plan starts with a list of assumptions, and then the entrepreneurs duty is to validate the assumptions in the market. You can use data based on your experience, competitors info, market research or gut feeling to arrive at the answers to your problems. The aim should be to start somewhere, keep moving quickly and keep learning and correcting the business plan as you learn more. You should not depend on outside agency to inform you about your market and your consumers, specially at this early stage. All the best, Amit Posted by Amit Grover on 21 May 2011 - 03:30:32 I am still waiting Expert's advice as I am also facing similar type of problem and not an IIT , IIM graduate but having burning desire to become a successfull ENTREPRENEUR , sooner vimal Amrev Gola Gokarannath Lakhimpur Kheri (U.P.) Posted by Vimal Amrev on 18 May 2011 - 07:01:12 View all comments
	Is writing a business plan worthwhile? Posted by Prashanth John 1 year 5 days Will it be worthwhile to create a Business plan, I think its only useful as an exercise for your own benefit. It is highly unlikely anyone will ever read it besides you because who really has the time or attention span? What will be the best way to present my business to a VC? Comments (1) \| Post a Comment Hi Prashanth, I think you have asked the question and given the answer yourself. Yes, writing a business plan is worthwhile, and its more important for yourself, rather than anyone outside. More importantly, business planning is even more essential rather than just writing a business plan. The best way to present your business to a VC will be to follow the guidelines and templates that they give, and tailor your plan in that format - most VCs have listed these details on their websites. Also, its a good idea to meet personally, and show your company's product/customers/team and financials. All the best, Amit Posted by Amit Grover on 21 May 2011 - 03:37:17
	My Business Plan Imagery, HOW TO MOVE FORWARD FROM HERE ? Posted by Vimal Amrev 1 year 5 days Startup :www.tinkutones.com Comments (2) \| Post a Comment Hi Vimal, To find a good web developer, you can post this requirement on startup groups including NEN etc., and also try contacting individuals who you feel have the right skillsets - but first you should identify what skillsets you need. Also, in your free time you can try coding yourself - if u r a good learner, it may not be a bad idea to start doing and learning on your own till you get someone better on coding. All the best, Amit Posted by Amit Grover on 21 May 2011 - 03:43:46 Now I am facing some basic problems and want to know how to overcome and make my Imagery into REALITY. From where collect some servey data regarding mobile ringtones business in INDIA and the number of Mobile users in INDIA ? How to choose web Application developer ? How to check feasibility of my IDEA ? Marketing Issues will come Later. Give me the direction to move and think forward as this is my first (TO BE STARTUP) venture. VIMAL AMREV GOLA GOKARANNATH LAKHIMPUR KHERI (U.P.) Posted by Vimal Amrev on 12 May 2011 - 02:45:54
	How to move to convert an Idea into working product or service ? Posted by Vimal Amrev 1 year 1 week One day I got an Idea and want to convert that imagery into functional product but Don't know Where and How to begin with. Should I write a BUSINESS PLAN first ? But in most business plan we have to consider PROFESSIONAL TEAM . But I want to know HOW to build that TEAM ? I am a POST GRADUATE in chemistry but Love ENTREPRENEURSHIP. SO please guide me and to many more who GOT the IDEA but think they have not the required resources to make it LARGE. vimal amrev Gola Gokarannath,Lakhimpur Kheri(U.P.) Comments (2) \| Post a Comment Thanks Sir, I have tested my Idea on my friend circle (My target customers)because confidentiality reasons but gain some insights , how they love to use my product/service and how they would love to pay,the user interface and many more suggestions.So I think I have started moving towards my startup but still faced lack of systamatic approach towards my startup. Now I am facing these questions to be answered....... 1.How to choose web application developer ? 2.How and from where seek information about existing ringtones business fraternity as I want to start in ringtone market ? and many more questions come anytime to me related to betterment of service. Should I get MENTOR for my startup to speedup the execution of my IDEA ? GUIDE Me........ Thanks Vimal Amrev Gola Gokarannath Lakhimpur Kheri (U.P.) Posted by Vimal Amrev on 10 May 2011 - 03:14:34 Hi Vimal, The first step in converting an idea into a product is meeting potential customers. The insights gained from them will help you visualize the design, performance, pricing etc. for your product. It will also give you some perspective of whether what you have in mind matches your customers' requirements. We often make the mistake of believing that idea is worth everything, and no need to ask the customer what she wants or that the idea may be copied! The next step is to make few measurable goals and put timelines to achieving them - for example, making 1st workable prototype in 30 days. That gives you more sense of whether the thing works or not. At a later stage, when you are ready for commercialization, you can make a formal business plan and figure out your team requirements, finance etc. Making a business plan when you have only the idea will not make sense, as there will be too many unknowns. All the best, Amit Grover Founder, Nurture Talent Academy Posted by Amit Grover on 10 May 2011 - 12:33:23

Anirudh Kasibhatla	Arnab Bhattacharya	Surya SHARMA
Hitesh Jhanji	SUDIP SAMANTA	Biplove Sharma
Vinod G	Ronak Sanghvi	SOUVIK PURKAIT

Picture
	Entrepreneurs Posted by Hitesh Jhanji 5 weeks 1 day Comments (0) \| Post a Comment
	frnds suggest me plz how to start a business i want more intrest in dat.. Plz suggest me frnds Posted by Bhanu Kothapally 38 weeks 2 days Comments (0) \| Post a Comment
	Sales and Marketing skills Posted by Sindhu Gopalakrishan 49 weeks 6 days HI, I have a startup business , an IT consulting firm. Need indepedent marketing consultants to h help me on the sales and marketing. Would appreciate inputs from friends from this group . Thanks Comments (2) \| Post a Comment Hi, I represent Valuemart Retail India Ltd, a Bangalore based company. Valuemart Retail offers B2C solutions, RFID Solutions, POS Technology, Smartcards and Web basedsolutions for Retail sectors. We are not into marketing, but provide technology solutions to get better customer satisfaction in the service you provide. It helps in retention of customers & creates loyalty. It helps in automation of many of your daily functions. It will bring down your workload. We have more than 25000 share holders in Bangalore as our company is listed in Bangalore & Bombay Stock exchange. We will be expanding our base, i.e people who can be your potential customer in the future. We would like you explore many more viable options which would benefit your company in the long run.To begin with we can start of by Listing your complete company profile in our portal.By doing so you can extend your reach to greater number of customers. As a start up company you will need to be as aggressive as possible & get more mileage. We can explore many more viable options if we can sit for a round of discussion. Hoping to hear from you soon. Take care Regards Prabhakaran 9844386213 Posted by Prabhakaran Krishnan on 28 Nov 2011 - 01:08:49 Hi this is Manoj Hujband i have just join this group i found topic sale and marketing topic for IT Consulting firm i just want you to help with some stuff or web addresses might be help u most in marketing,branding, sales etc some intresting information you will gate from here because i have also Software business startup same problem i have getting during my startup but i got some of the good stuff from here Software Business Blog 1) http://blog.avangate.com/5-tools-to-boost-software-sales-in-2011/ 2) http://www.softwareceo.com/page/softwareceo- industryresearch;jsessionid=22C45E5A1CC501A8FD9BCBC2C8C8DB04 Thank you Posted by Manoj Hujband on 07 Jul 2011 - 01:24:58
	How to find the data for writing a business plan? Posted by Tejas Bhavsar 1 year 2 days Hello I am Tejas Bhavsar from Mumbai. I have started a Education startup company, Signa Education. I am not an IIT or IIM graduate, therefore my expertise on raising fund through VC or Seed funds is very limited. Comments (5) \| Post a Comment Thanks Sir , I will always think How to match the working style with the IIT/IIM graduate by learning not reading in IIT/IIM (which is not possible now) vimal amrev Posted by Vimal Amrev on 26 May 2011 - 07:40:09 Realy helpful advice now I can improove my Business Imagery(Business Plan), I call it. vimal amrev Posted by Vimal Amrev on 26 May 2011 - 07:36:41 IIT, IIM has nothing to do with entrepreneurship or business. Just believe in yourself, and if you feel you lack something (IIT/IIM name), then do something about it rather than procrastinate. After 30 years, you should not tell yourself that you did not become an entrepreneur because you did not have a IIT IIM tag. All the best, Amit Posted by Amit Grover on 21 May 2011 - 03:32:49 Hi Tejas, Business Plan starts with a list of assumptions, and then the entrepreneurs duty is to validate the assumptions in the market. You can use data based on your experience, competitors info, market research or gut feeling to arrive at the answers to your problems. The aim should be to start somewhere, keep moving quickly and keep learning and correcting the business plan as you learn more. You should not depend on outside agency to inform you about your market and your consumers, specially at this early stage. All the best, Amit Posted by Amit Grover on 21 May 2011 - 03:30:32 I am still waiting Expert's advice as I am also facing similar type of problem and not an IIT , IIM graduate but having burning desire to become a successfull ENTREPRENEUR , sooner vimal Amrev Gola Gokarannath Lakhimpur Kheri (U.P.) Posted by Vimal Amrev on 18 May 2011 - 07:01:12 View all comments
	Is writing a business plan worthwhile? Posted by Prashanth John 1 year 5 days Will it be worthwhile to create a Business plan, I think its only useful as an exercise for your own benefit. It is highly unlikely anyone will ever read it besides you because who really has the time or attention span? What will be the best way to present my business to a VC? Comments (1) \| Post a Comment Hi Prashanth, I think you have asked the question and given the answer yourself. Yes, writing a business plan is worthwhile, and its more important for yourself, rather than anyone outside. More importantly, business planning is even more essential rather than just writing a business plan. The best way to present your business to a VC will be to follow the guidelines and templates that they give, and tailor your plan in that format - most VCs have listed these details on their websites. Also, its a good idea to meet personally, and show your company's product/customers/team and financials. All the best, Amit Posted by Amit Grover on 21 May 2011 - 03:37:17
	My Business Plan Imagery, HOW TO MOVE FORWARD FROM HERE ? Posted by Vimal Amrev 1 year 5 days Startup :www.tinkutones.com Comments (2) \| Post a Comment Hi Vimal, To find a good web developer, you can post this requirement on startup groups including NEN etc., and also try contacting individuals who you feel have the right skillsets - but first you should identify what skillsets you need. Also, in your free time you can try coding yourself - if u r a good learner, it may not be a bad idea to start doing and learning on your own till you get someone better on coding. All the best, Amit Posted by Amit Grover on 21 May 2011 - 03:43:46 Now I am facing some basic problems and want to know how to overcome and make my Imagery into REALITY. From where collect some servey data regarding mobile ringtones business in INDIA and the number of Mobile users in INDIA ? How to choose web Application developer ? How to check feasibility of my IDEA ? Marketing Issues will come Later. Give me the direction to move and think forward as this is my first (TO BE STARTUP) venture. VIMAL AMREV GOLA GOKARANNATH LAKHIMPUR KHERI (U.P.) Posted by Vimal Amrev on 12 May 2011 - 02:45:54
	How to move to convert an Idea into working product or service ? Posted by Vimal Amrev 1 year 1 week One day I got an Idea and want to convert that imagery into functional product but Don't know Where and How to begin with. Should I write a BUSINESS PLAN first ? But in most business plan we have to consider PROFESSIONAL TEAM . But I want to know HOW to build that TEAM ? I am a POST GRADUATE in chemistry but Love ENTREPRENEURSHIP. SO please guide me and to many more who GOT the IDEA but think they have not the required resources to make it LARGE. vimal amrev Gola Gokarannath,Lakhimpur Kheri(U.P.) Comments (2) \| Post a Comment Thanks Sir, I have tested my Idea on my friend circle (My target customers)because confidentiality reasons but gain some insights , how they love to use my product/service and how they would love to pay,the user interface and many more suggestions.So I think I have started moving towards my startup but still faced lack of systamatic approach towards my startup. Now I am facing these questions to be answered....... 1.How to choose web application developer ? 2.How and from where seek information about existing ringtones business fraternity as I want to start in ringtone market ? and many more questions come anytime to me related to betterment of service. Should I get MENTOR for my startup to speedup the execution of my IDEA ? GUIDE Me........ Thanks Vimal Amrev Gola Gokarannath Lakhimpur Kheri (U.P.) Posted by Vimal Amrev on 10 May 2011 - 03:14:34 Hi Vimal, The first step in converting an idea into a product is meeting potential customers. The insights gained from them will help you visualize the design, performance, pricing etc. for your product. It will also give you some perspective of whether what you have in mind matches your customers' requirements. We often make the mistake of believing that idea is worth everything, and no need to ask the customer what she wants or that the idea may be copied! The next step is to make few measurable goals and put timelines to achieving them - for example, making 1st workable prototype in 30 days. That gives you more sense of whether the thing works or not. At a later stage, when you are ready for commercialization, you can make a formal business plan and figure out your team requirements, finance etc. Making a business plan when you have only the idea will not make sense, as there will be too many unknowns. All the best, Amit Grover Founder, Nurture Talent Academy Posted by Amit Grover on 10 May 2011 - 12:33:23

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Ask the Expert | Business Plans: Getting It Right