WORKSHOP ON ENTREPRENUERSHIP

Dronacharya College of Engineering, Gurgaon in association with EzSwype Business Solutions (P) Ltd. organized a workshop on 11th September 2015 to motivate the students for being a Job creator instead of Job seeker. Mr. Pulkit Gupta, Co-Founder and COO of EzSwype Business Solutions (P) Ltd took the session and it was attended by 25 students of CSE Department.

Mr. Pulkit Gupta talked about India’s needs new entrepreneurs for its sustainable development and the opportunities that are available to them. He interacted with the students and asked them the reasons of why they want to be entrepreneurs and what they want to achieve being an entrepreneur. He explained the pre-incorporation stages of a business. Firstly one should have a clear idea of three things before initiating a business:

Ideas generation: Idea Generation is the foundation of the process of discovering new sustainable business opportunities. Looking at things from a different angle is the first step to innovate and invent new solutions. This activity aims to boost participant’s creativity and help them to develop creative ideas that make a difference. Idea Generation is a process of deliberately brainstorming. There are a number of tools and considerations that can help generate powerful ideas. These tools have been shown to be particularly relevant to the pursuit of sustainability-driven ideas. The speaker also provided participants with important considerations for the development of sustainable products/services and will bring their attention to the major opportunity areas for sustainable businesses.

Revenue generation: Mr. Gupta said that an accurate understanding of revenue generation also affects how a company will run. The number of employees, company supplies and physical assets affect how much revenue the business generates. Before calculating the net income of a company, the aforementioned expenses need to be subtracted from the revenue generated from sales. He also explained that good bookkeeping is essential to ensure that all revenue generation is properly noted. Revenue generation affects the various types of government reporting and insurance requirements that companies are required to comply with. This also affects taxes that are owed to the government based on revenue.

Understanding the market economies: Mr. Pulkit Gupta said that a startup can sustain only if it can cope with competition. The arena in which competition takes place is the industry in which a company and its rivals vie for business. Each industry has a distinctive structure so understanding the industry, now and in the future, is a core discipline in strategy formation. Another crucial aspect is to register sharply different levels of average profitability in the long run.

In the next session discussions were made on the various set back that a new entrant faces when entering into the market. Mr. Gupta motivated the students that one should be prepared to deal with such adverse situations while starting an entrepreneurial project. He gave examples of noted people who have faced obstacles in their startups before making it big. He also said that it is important that one should be convinced with their idea and be confident in their capabilities before starting off a new venture.

Mr. Gupta added that the students are keen, energetic and have a lot of potential in them; they just need proper guidance and mentoring to be a successful entrepreneur. He motivated students to follow their dreams and posed confidence in them. He discussed with the students about their reservations and uncertainties of entrepreneurial career and satisfied their queries.