“Entrapreneurship & Career

Development”
An interactive workshop on Entrapreneurship and Career
Development organised by Department of Management Shivalik
Institute of Professional Studies.

Time :-11:30AM-01:00PM ORGANISED BY :

Date :-13 Jan 2023 DEPARTMENT OF

MANAGEMENT Venue :- Seminar Hall -1
(SIPS)
OLD BUILDING Written by :Richa Rushali
Dr. Suchita Gera (Associate Dean School Of Business Studies)
Dr. Suchita Gera is working as an Associate Dean, School of Business Studies, Himgiri Zee
University, Dehradun. She has 14+ years of experience in academics with great expertise in
Marketing Management.

She has also published / presented numerous papers in International / National Journals, Seminars
and Conferences and patents in National and International. Her teaching philosophy is characterized
by a student- centered approach focused on experiential and inquiry- based learning. She is
committed to providing students with a challenging and supportive learning environment that
encourages critical thinking, creativity, and innovation.

She has been awarded with Awarded Nari Ratan Award by Verbert on 5 th March 2023, awarded
Siksha Ratan Award by UIJIR Academic Research Foundation on 5th September 2022 in
appreciation and recognition of outstanding contribution in Academics and “Appreciation Award” as
Faculty for dedication and contribution made to the university in August 2021 in Himgiri Zee
University. She has been receiving a various appreciation letter for delivering exceptional expert
session. Her credentials include Ph.D (Management), MBA and B.Com
Entrepreneurship Development:
Entrepreneurship Development is the process of improving the skills and knowledge of
entrepreneurs through various training and classroom programs. The whole point of
entrepreneurship development is to increase the number of entrepreneurs. By doing this, the pace
at which new businesses or ventures are made gets better. On a wider level, this makes room for
employment and improves the economy of a business or country. The steps below will explain
how to create an effective entrepreneurship development program and how to go about
enhancing it.

How to be an Entrepreneur:

Make Sure Entrepreneurship Is What You Really Want

If you are thinking of starting a business because you lost your job and are having trouble finding
a new one, then think about doing a better job search. Hire a career coach or get some training.
Starting a business is much harder than getting a job, so it’s worth the extra effort to look for
employment in a better way, if that’s your true preference. Also, think about whether you have
what it takes to start a business in these terms: No one will tell you what to do (except your
customers). You have to be self-motivated, willing to make many sacrifices, and be able to last
for the long term while your business goes from startup to maturity.

Decide What Kind of Business You Want

Franchise or independent? Service or manufacturing? Brick-and-mortal retail or online?
Consumer or business-to-business? There are dozens of different types of businesses, each with
its own benefits and drawbacks. Like to work with the public? A retail store might be right for
you, but you will face the tradeoff of having a lot of overhead (rent and utilities for example).
Want to keep your business small with low overhead, and sell your expertise? Being a consultant
might suit you, but there are only 24 hours in a day and that could limit your income.
Research Your Idea
The most important thing to remember if you are considering starting a business is this: It’s not a
race. People who rush get penalized in the marketplace much more severely than people who
take their time. You may hear the words “first-mover advantage” – the idea that you get a big
head start by being out with a product before anyone else. But that idea is overblown, especially
for small businesses. Emerge too soon and you could squander precious resources.

It’s far better to methodically, diligently research your idea. Is anyone else doing it? What’s the
competition like? Do consumers and businesses have viable substitutes if they don’t choose your
product? Does your product really solve a pesky problem? Is the demand going to be great
enough in the future, not just for a year or two? Once you’re completely convinced you have the
virtual better mousetrap, then you can proceed.
Write a Business Plan
With the dozens of business-plan-in-a-box resources available online, there is no longer an
excuse not to write (not think, write) a business plan before you launch your business. Why write
a plan even if you are the only person who works in the business? Because it forces you to
answer critical questions that you must not ignore if you want to have a strong chance of success.
It doesn’t have to be long. Make it a single page if you don’t have the patience to do more. But it
should answer these questions:

What is the purpose of the business?

Who are my customers?

What problem does my product / service solve?

Who is my competition and why is my product / service’s advantage?

How will I price, position, market and support my product?

What are my financial projections for the business for the next 3-5 years?
Choose a Business Structure
According to small business CPA Michael Hanley, “The foundation for tax planning begins even
before your first day of business operations. Of all the decisions a business owner will make,
very few will have as great an impact as entity selection.

Deciding whether to become a Sole Proprietorship, a Partnership, a traditional Corporation, an S-

Corporation, or a Limited Liability Company (LLC) will have a long-lasting effect on the future
tax implications of your business. You can learn about the benefits and tradeoffs of each plan in
a number of places and there are excellent, brief books on the subject, too.
Assemble Your Team
While your team consists mainly of employees, think more broadly. You will need trusted
advisors including an attorney, a tax accountant, an insurance advisor / agent. You may want to
consider hiring a Virtual Assistant who’s experienced in startups to handle the administrative
tasks that come with launching a business.
Handle the Paperwork
Along with starting a business come a variety of paperwork requirements that can’t be
overlooked, including:

Filing for applicable licenses and registrations from your state’s government. Get guidance from
your state’s Office of Taxation website on which forms you will need to complete.

If you form a minority or women-owned business, you may qualify for special government
programs that can provide startup capital.

Purchase appropriate business insurance.