GOVERNMENT ENGINEERING COLLEGE, HAVERI
IMPACT LECTURE SERIES 2024
ENTREPRENEURSHIP & STARTUPS
SACHIN KUMAR PATIL
ENTREPRENEURSHIP
SUCCESSFUL ENTREPRENEURS
RITESH
Founder and CEO of OYO
Rooms
AGARWAL
Sachin Bansal & Binny
Founders of Flipkart
Bansal
Bhavish Aggarwal
Founders of Ola Cabs, Ola Electric, Ola
Krutrim
Ratan Naval Tata
Indian Industrialist
N. R. Narayana Murthy
Co-founders of Infosys
Mukesh Dhirubhai
Chairman and Managing Director of Reliance
Ambani
Industries.
The act of creating a business or
organization.
Involves innovation, risk-taking, and the
drive to succeed.
ENTREPRENEURSHIP
Entrepreneurs identify opportunities and develop
solutions to problems.
THE ENTREPRENEURIAL MINDSET
Opportunity Recognition
Identifying unmet needs or problems in
the market.
Innovation & Creativity
Developing new solutions or approaches.
Risk-Taking
The willingness to take calculated risks to
achieve goals.
Persistence & Determination
The ability to overcome challenges and
keep going.
DEVELOPMENT
STAGE
ION LA
T Building your
IDA GE ea product or service ST UNC
L A id
VA ST our tial and creating a pr Brin AG H
od gi E
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THE STARTUP JOURNEY
IDEA
Understanding and pinpointing a specific problem or gap in the market that needs a
solution.
Observation
Pay attention to daily challenges and
inefficiencies in various contexts (e.g.,
personal, professional, social).
Feedback
Engage with potential customers through
surveys, interviews, and focus groups to
understand their pain points.
Research
Study existing products and services to
identify shortcomings or areas for
improvement.
Trends Analysis
VALIDATION
To test and validate the business idea, ensuring that it solves the identified problem and
meets market needs before significant resources are invested.
Building a Minimum Viable
Product Market Validation
Identify core features. Methods
Develop rapid prototypes. Pre-orders.
Launch quickly. Crowdfunding
campaigns.
Landing pages
Metrics to Monitor:
Testing and Feedback Customer Acquisition Cost
User Testing.
(CAC).
Collecting Feedback Customer Lifetime Value
Iterating Based on
(CLV).
Feedback Conversion rates.
DEVELOPMENT
Transforming the validated MVP into a fully functional product ready for the market.
Full-Scale
Development
Building the Team • Planning and road
Hiring Key
mapping.
Roles • Agile methodology.
Team
• Technology stack.
Collaboration Operational
Processes
• Automation.
Quality Assurance (QA) • Security.
• Testing (unit, integration, • Customer
system, UAT). support.
• Feedback integration.
Technical Infrastructure
• Cloud services (AWS, Google Cloud,
Documentation Azure).
• Technical documentation. • Databases.
• User documentation. • DevOps practices.
LAUNCH
The Launchpad stage is the critical phase where the product is introduced to the market. It
involves executing the go-to-market strategy, attracting initial customers, and setting the
foundation for scaling and growth.
Marketing and
Pre-Launch Preparation
• Finalizing the Product Promotion
• Creating a Launch • Go-to-Market
Plan Strategy
• Building Hype and • Content Marketing
• Post-Launch
PR and Media
Awareness
Outreach
Activities
Launch Day Execution • Gathering
• Coordinated Efforts Feedback
• Engaging with the • Continuous
Audience Improvement
• Tracking and • Customer Support
Analytics • Scaling Operations
GROWTH
To expand the startup's market presence, increase user base, and achieve sustainable
revenue growth. This stage focuses on scaling operations, optimizing processes, and
establishing a strong market position.
Scaling the
Financial Management and Business
Investment • Product Scaling
• Revenue Growth • Operational
• Investment and Funding Scaling
• Financial Planning
Marketing and Customer
Acquisition
• Advanced Marketing Strategies
• Customer Acquisition Channels
• Customer Retention and
Engagement
• Engagement Strategies
• Feedback Loop
Founded in 2007 by Sachin Bansal and Binny Bansal.
Flipkart started as an online bookstore and grew into India's leading e-
commerce platform.
KEY SUCCESS FACTORS
Solving a logistics challenge
Focus on customer experience
Understanding the Indian market
Adaptability and innovation
Strategic partnerships
KEY SUCCESS FACTORS
Addressing a Pain Point
Leveraging Technology
Founded in 2010 by Bhavish Aggarwal and
Focus on Affordability Ankit Bhati
Ola revolutionized the Indian transportation sector
Building a Strong Network
by offering a convenient and reliable app-based cab
Localization and Cultural Understanding booking service.
Strategic Marketing and Brand Building
Adaptability and Expansion
KEY SUCCESS FACTORS
Comprehensive Restaurant Information.
Founded in 2008 by Deepinder Goyal and
Mobile-First Strategy Pankaj Chaddah.
Focus on User Experience Zomato started as a restaurant discovery platform
with user-generated reviews and menus. It has
Strategic Partnerships since evolved into a leading online food delivery
Data-Driven Approach service in India and many other countries.
Adaptability and Expansion
Venturing Beyond Food Delivery
SACHIN KUMAR PATIL
+91 - 9980565650
