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Shri Siddheshwar Devasthan Trust’s

Shri Siddheshwar Women’s Polytechnic, Solapur.
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Information Technology Department
• Accredited and Re-accredited by NBA, New Delhi.
• Recipient of MSBTE Best Laboratory Award with prize of Rs.50,000/- for Hardware
Laboratory.
• Recipient of ISTE Best Polytechnic Project Award for project name “Home Automation by
Android Application based Remote Control”.

Course/Subject Details :
Name : Entrepreneurship Development (EDE)
Semester : Fifth semester of MSBTE Curriculum
Program : Information Technology (IT)

Ms. Jadhav K.D.

(Lecturer, IT Dept)
 z Syllabus:
5.1 Unique Selling Proposition(USP): Identification,
Developing a Marketing plan
5.2. Preparing Strategies for handling business:
Policy Making, negotiation and Bargaining
techniques.
5.3 Risk Management: Planning for calculated risk
taking, initiation with low cost projects, integrated
futuristic planning, angel investors, venture capitalist.
5.4 Incubation Centers: Role & Procedure
• Unique Selling • Unique Selling
Proposition is the
Proposition (USP)? essence of what makes
your product or service
better than competitors.
• In online marketing,
communicating
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your USP clearly and
quickly is one of the
keys to getting potential
customers to convert on
your site.
What is USP?
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 A USP is the one of fundamental piece of

any solid Marketing Campaign.
 Simply stated, it is a summary of what
make your business unique and
valuableTo your target market
 It answers the question: How do your
business services benefit your clients
better than another else can?
 Identification of USP
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 The unique selling proposition (USP) is the factor

or benefit that makes your product different—
stand out—from other equivalent products on
the market.
 Identifying your USP takes quite a bit of time
and research, but without the research, you are
selling just another commodity.
 Developing a marketing plan
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Marketers have a saying: “If you don’t know where

you’re going, any road will take you there.”
Without planning and a sound strategy, how can
you know where you are going or what you need
to do to get there?
Step 1: Document Your Business Goals

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Before jumping into the tactics and execution, your marketing team should ask the leadership team to define their
business goals for the next 1-3 years. Your goals can be externally focused, internally focused, or perhaps a mix of both.

When developing goals (at the business level or otherwise), write them in the SMART format that ensures accountability.
SMART stands for Specific, Measurable, Attainable, Realistic, and Time-bound and represents business goals such as:

Increase product line revenue by 30 percent to $2 million in the next 12 months

Double revenue through distributors in the next two years

Increase profitability from 25 to 30 percent by the end of the year

Step 2: Develop A SWOT & Set Your Budget

Ultimately, you want marketing that provides a consistent flow of high-quality leads to help fuel new sales opportunities
and drive growth. You want your technical target audiences and customers to be happy to hear from you and not dread
it. And you have a limited budget and tight bandwidth.

The way to achieve all of this is to use a smart marketing approach that builds a marketing strategy and execution plan
aligned to your business goals and starts with:

A SWOT of your current marketing program - strengths, weaknesses, opportunities, and threats in terms of your
competitive position, target markets, target audiences, current positioning/messaging, the maturity of your offerings,
channel partners, etc.

Marketing resources and budget - a rule of thumb for spending on marketing is 6-to-12% of gross revenue with higher
spending in the early phases as you establish your marketing foundation.
Step 3: Define Your Target Personas

You probablyz know the profile of your most valuable prospects and the sales process your
company uses to convert them from leads to opportunities to customers. However, as your
company grows, you won’t know each prospect’s unique situation, and one message won’t work
for all. You’ll need to customize your marketing approach by creating buyer personas.

Buyer personas are fictional representations of your ideal customers based on demographic data,
online behavior, and your educated speculation about personal histories, motivations, and
concerns. For example, you may define one of your personas as VP of Engineering Vince, a
business executive who cares most about cost and long-term support. A second persona could
be Engineer Elliot, an engineering manager or senior staff engineer who is an expert in your
technology area and wants to do a deep dive into the technical capabilities of your product or how
you deliver a service. Elliot greatly influences Vince, but Vince makes the final decisions. Vince
and Elliot have very different concerns.

The first step in creating your buyer personas is to brainstorm who they could be. Once you have
your full list, identify the ones who have similar needs or roles and consider merging them. From
here, prioritize your list of personas by considering their impact on the final purchase decision,
their relationship to your company, and the size of the audience persona group. Once you’ve
finished brainstorming, create your actual personas.
Step 4: Develop Your Marketing Goals

Armed withzyour business strategy, areas of greatest opportunity, and defined persons,
you are now ready to create your marketing goals. Goal setting is critical to aligning your
marketing organization, narrowing your focus, and setting your overall marketing strategy

Documenting your goals ensures your team is aligned around your top marketing
priorities and what you expect to achieve through your marketing efforts. Your goals can
be externally focused, internally focused, or perhaps a mix of both.

Write your goals in the SMART format that helps ensures accountability. SMART stands
for:

• Specific
• Measurable • Attainable
• Realistic
• Time-Bound

For example, a SMART marketing goal could be: “Increase by 15% the number of
qualified leads passed to sales in the military market by Q4 2020”. Develop at least three,
and no more than five, SMART marketing goals.
Step 5: Create Your Campaigns & Build Your Activity Plan

Now that you’ve created your marketing goals and have a budget, you are ready to develop your activity plan.The most
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effective way to approach turning your marketing strategy into an execution plan is by using a campaign structure. You can
think of campaigns as buckets of activities focused on a common theme or goal.

With limited time and budget, a campaign approach gives you the big picture before you get into the weeds of which new video
you will produce, which white paper you will write and promote, etc.

Campaigns can run the gamut in scope. They can be anything from a major product launch to building thought leadership in a
particular segment to increasing web traffic and leads. Here are two examples of marketing campaigns and their stated goals
and KPIs:

Campaign—Lead generation and conversion

Description—Through content and partner co-marketing, attract quality leads that convert to opportunities

KPI 1—Increase leads by 35 percent to 210 per month

KPI 2—Increase lead opportunity conversion from 6 to 8 percent

Campaign—Partner marketing

Description—Develop and implement a channel co-marketing program

KPI 1—Publish at least one lead-generating piece of co-branded content per quarter

KPI 2—Generate 100 net new leads through co-marketing activities

Strategy is an evolution, and something that takes a great deal of time to develop. However, mapping out a clear, strategic
direction will ensure a cohesive marketing plan that maps to your personas through campaigns and is time bound and budget
5.2 Strategies for handling business
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Here are some strategies that take to build the best business and execute them with precision:
1. Develop a true vision :
Vision is an abstract word that means different things to different people. It should include aspirations of
what type of company you want to be. If your vision is true then you able to create a good business.
2. Define your targets :
Clear target markets give a company the ability to create an integrated sales and marketing approach. Sales
and marketing plans are executed more effectively when targets are tight.
3. Make fact-based decisions :
Fact-based decision making is a systematic process that emphasizes collection of right data, ensure quality
of data, and choose business decisions that are supported by the analysis results.
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4. Think long term :

In long term thinking is an important part of business . Before staring the business you think about what
are the goals , needs , requirements of our business. All of these considerations we have to known about a
better business future.

5. Invest time in pre-work.

If you want your managers to take strategy seriously, make them conduct research and prepare relevant
information in advance of your business development.

6. Technology that Matters.

First and foremost, technology affects a firm's ability to communicate with customers. ... When customers
use technology to interact with a business, the business benefits because better communication creates a
stronger public image.
 z Policy Making :

What is policy maker ?

A policy maker is someone who creates ideas and plans, especially

those carried out by a business or government. A mayor, a school
board, a corporation's board of directors, and the President of the
United States are all policy makers. Policy refers to the plans that a
government or business follows.
 z Why is policy making important?

• Policies and procedures are an essential component of any organization.

• Policies are important because they address pertinent issues, such as what
constitutes acceptable behavior by employees. ... Utilizing both policies and
procedures during decision-making ensures that employers are consistent in their
decisions.
 z Negotiating :

• Negotiation is a process where two or more parties with different needs and goals discuss an
issue to find a mutually acceptable solution.

• Negotiation takes place when two or more people, with differing views, come together to
attempt to reach agreement on an issue.

• It is persuasive communication .

• “Negotiation is about getting the best possible deal in the best possible way.”

• A good negotiation leaves each party satisfied and ready to do business with each other
again.
Good negotiations contribute significantly to business success, as they :
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• 1.help you build better relationships

• 2.help you avoid future problems and conflicts.

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Bargaining :
• Bargaining is a one-dimensional discussion over a single point or a series of points.

• It is a back-and-forth verbal exchange with the goal of both parties to arrive at a mutually
agreeable point in between two starting positions.

• Bargaining is about what both sides desire.

• Bargaining is an agreement between two or more parties.

 z Example Of Bargaining .

Ex- If we go to market and take some products of 1000 Rs. but the customer thinks it's
very costly and wants to make less then 800 Rs. And then the sells man makes middle part
of the cost that is 900 Rs. and gets satisfied both the sides or parties.
 5.3 Risk Management :
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Risk management is a process in which businesses identify, assess & treat risks that could potentially
affect their business operations.

 Why Manage Risk?

There are many reasons to manage risk. Some of them include:

1. Protecting public image

2. Protecting people from harm

3. Preventing/reducing legal liability

4. Protecting the environment

 Planning For Calculated Risk Taking
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Tips for Taking Calculated Risks

 Do Lots of Research :

The first tip is to do your due diligence. In order to take a calculated risk, you must understand
every little detail and nuance of the decision that you can.

 Anticipate Mistakes :

Before executing any decision, you should think about every possible outcome. Consider the
positive ones, but really focus on the negative ones.

 Set Checkpoints and Goals :

Calculated risks are marked by a number of goals and checkpoints. Put these in place well before
making a decision so that you can identify when risk becomes too high for your tolerance.
o Be Willing and Ready to Pivot :
It doesn’t matter how calculated a risk is, you must be able to handle what happens. A business
decision rarely — if ever — goes exactly as planned. Sometimes the outcome will be better than
anticipated, while sometimes it will be worse. And while you can’t always control the result, you
can control how you respond.

o Learn to Love the Word “No” :

Whether it’s in your personal life or your career, learning to say no is one of the best skills you
can adopt. This is especially true when it comes to a risk or potential opportunity. If you jump at
every opportunity that comes across your desk, you won’t have time or space to take on the ones
that have a high probability of succeeding.
 Initiation
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With Low Cost Project
 What is project initiation?

Project initiation is the first phase of a project’s life cycle. It is at this point where the opportunity or reason for the project
is identified and a project is developed to take advantage of that opportunity.

 The initiation phase encompasses all the steps you must take before a project is approved and any planning begins

 Do a Feasibility study for low cost project initiation and also create A project charter & identify project objectives.

 Here the some points for low cost project initiation.

1.Project Objectives
2.Deliverables
3 Constraints
4 Assumptions
5.Exclusions
6.Schedule
7.Budget
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Integrated Futuristic Planning
 Futuristic supply chain – integrated planning approach

 Supply chain planning is core to effective supply chain management of an

organization. An integrated sales and operations planning (S&OP) plays a critical
role in a company’s ability to match supply with demand fluctuations. This paper
talks about equipping the organization towards the future of supply chain planning
through digitization and analytical interventions. It also explores the possibilities of a
hybrid model where transaction planning process could be outsourced while
retaining the core decision making needed for effective S&OP process, thus
delivering an undeniable competitive edge.
Angel investors
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 Angel investors, also called private investors, are wealthy individuals

who infuse a startup company or an entrepreneur with cash or capital
in exchange for ownership or convertible debt because they believe in
the company and think it will succeed.

 Angels are different than venture capitalist because they fund the
endeavors personally and usually want to entrepreneur and business to
succeed for more reasons than just profits.
Venture Capital
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 Venture capital is a type of private equity capital typically provided

by professional, outside investors to new, growth businesses .

 The SEBI has defined Venture Capital Fund in its Regulation 1996
as a fund established in the form of a company or trust which raises
money through loans, donations, issue of securities or units as the
case may be and makes or proposes to make investments in
accordance with the regulations‘.
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What Is Incubation Center

 A business incubator is a company that helps new and startup companies

 To develop by providing services such as management training or office space.

 The National Business Incubation Association (NBIA) defines a business

incubators as a catalyst tool for either regional or national economic
development.
 Services Provided by Incubation
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 Following are the most common incubator services :
(i) They help with business basics
(ii) They provide Networking activities
(iii) They provide Marketing assistance
(iv) Incubators help in Market Research
(v) They provide High-speed Internet access
(vi) Incubators Help with accounting/financial management
(vii) They help in providing Access to bank loans, loan funds and
guarantee programs
(viii) Incubators help with presentation skills
(ix) They link to higher education resources
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Stage of Business Incubation Development

 There are three stage of Business Incubation

Development :

(i) Physical facility support

(ii) Support service
(iii) Networking facilities
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Types of Incubators

 There are a number of business incubators that have focused on particular

industries or on a particular business model, earning them their own name.

 Majorly there are four types of incubators prevailing in the market today. These
are:

(i) Corporate Incubators

(ii) Private Investors’ Incubators
(iii) Local Economic Development Incubators
(iv) Academic Incubators
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How incubators help start-ups develop and
grow

■ Investing in start-ups

■ Connecting start-ups
to investors

■ Supplying mentorship
and experience
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Role of Business Incubation
■ Business incubation has been identified as a means of meeting a
variety a of economic and socioeconomic policy needs, which may
include
■ Creating jobs and wealth
■ Fostering a community's entrepreneurial climate
■ Technology commercialization
■ Diversifying local economies
■ Building or accelerating growth of local industry clusters
■ Business creation and retention
■ Encouraging women or minority entrepreneurship
■ Identifying potential spin-in or spin-out business opportunities
■ Community revitalization
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Major Steps as in How to Set Up an Incubation Center

 Market Research

 Identifying Team & Service Providers

 Allocation Of Resources

 Establishing Interlinks & intralinks With Industries

 Making Programs

 To Lucrative, Choose, Retain & Manage Startups

 z The Top 10 Startup Incubators In India

 Innovation and Entrepreneurship (SINE), IIT Mumbai,

 Technology Business Incubator, IIT Delhi

 Technopark Technology Business Incubator (T-TBI), Kerala

 Startup Village

 Indian Angel Network (IAN)

 Technopark TBI

 Centre for Innovation, Incubation and Entrepreneurship (CIIE), IIM Ahmedabad

 NSRCEL, IIM Bangalore

 GSF Accelerator

 AngelPrime
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Incubation Vs Accelerators
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