Entreprenuer Slide No 1

ENTREPRENEURSHIP
BS-311
Lecture 6
Creating & Starting New Venture & Joint Venture
By: Muhammad Nawaz

Lecturer, Institute of Business Studies.
KUST.
Topic: Creating & Starting New Venture & Joint Venture
Outline
What is Venture?
Information Needs
Planning as part of the Business Operation
What is The Business Plan?
Who should write the Plan
How do potential leaders and investors evaluate the plan
Presenting the Plan
The Entrepreneurial process to start a new Venture.
Step-By-Step Approach for starting a new Business
What is Joint Venture?
Features of Joint Venture.
Course: Creating & Starting New Venture & Joint Venture BS-311--Instructor of Entrepreneurship, Muhammad Nawaz, Lecturer, Institute of Business Studies, KUST----Email:
Muhammad.Nawaz@kust.edu.pk
What is Venture?
 A business enterprise or speculation in which something is risked in the hope of profit; a

commercial or other speculation.
 An undertaking involving uncertainty as to the outcome, especially a risky or dangerous

one.
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Information Needs
 Market Information
 Operations Information Needs
The entrepreneur may need information on:
1. Location
2. Manufacturing operations
3. Raw materials
4. Equipment
5. Labor skills
6. Space
7. Overhead
Planning as part of the Business Operation
 The planning process helps an entrepreneur identify exactly what needs to be

accomplished to build the venture, and what human and financial resources are required to
implement the plan.
What is The Business Plan?
 A business plan is a written document prepared by the entrepreneur that describes all
the relevant external and internal elements involved in starting a new venture
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Who should write the Plan

 The business plan should be prepared by the entrepreneur.
 However, he or she may consult many sources. Lawyers, accountants, marketing consultants,
and engineers are useful supplemental sources.
How do potential leaders and investors evaluate the plan
 Because the business plan should address the needs of all the potential evaluators,
software packages and Internet samples should be used only to assist in preparation.
 Suppliers
 Customers
 Lenders
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Presenting the Plan
 It is often necessary for an entrepreneur to orally present the business plan to investors.
The Entrepreneurial process to start a new Venture.
It is useful to break the entrepreneurial process into five phases;

1. The Idea Generation
2. Opportunity Evaluation
3. Planning
4. Company Formation/Launch
5. Growth
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Step-By-Step Approach for starting a new Business
These can be divided into three stages:
1. Pre-launch Stage
2. Launch Stage
3. Post launch Stage
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What is Joint Venture?
When two or more persons join together to carry out a specific business venture and share the
profits on an agreed basis it is called a 'joint venture'.
Features of Joint Venture.
1. Joint venture is a special partnership without a firm name.
2. Joint venture does not follow the accounting concept 'going concern'.
3. The members of joint venture are known as co-ventures.
4. Joint venture is a temporary business activity.
5. In joint venture, profits & losses are shared in agreed proportion. If there is no agreement
Regarding the distribution of profit, they will share profit equally.
6. Joint venture is an agreement for polling of capital and business abilities to be employed in some
Profitable venture.
7. At the end of venture, all the assets are liquidated and liabilities are paid off: if necessary the assets
And liabilities could be shared by co-ventures.
8. Joint venture always follows cash basis of account
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References
Recommended Text Books:

1. Robert D. Hisrich % Michel P. Peter “Entrepreneurship” (McGraw Hill) 5th Edition
International edition
2. Bruce A. Kirchott “Entrepreneurship & Dynamic Capital”
3. Zafar Altaf (Croom Helm) “Entrepreneurship in the Third World”.
4. http://www.crectirupati.com
5. https://mithunjadhav.files.wordpress.com
6. https://www.iare.ac.in
7. https://www.zeePedia.com
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Thank You . . .
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ENTREPRENEURSHIP

By: Muhammad Nawaz

 A business enterprise or speculation in which something is risked in the hope of profit; a

 An undertaking involving uncertainty as to the outcome, especially a risky or dangerous

 The planning process helps an entrepreneur identify exactly what needs to be

What is The Business Plan?

Who should write the Plan

How do potential leaders and investors evaluate the plan

The Entrepreneurial process to start a new Venture.

It is useful to break the entrepreneurial process into five phases;

Step-By-Step Approach for starting a new Business

These can be divided into three stages:

Recommended Text Books:

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