An online workshop on the topic “Business Plan and lean canvas-Tools for uncertain world” was carried out by Dr. Suparn Sharma, Associate professor of School of Business and coordinator, Entrepneurship Development Cell, Shri Mata Vaishno Devi University in an event organised by Shri Mata Vaishno Devi University Technology Business Incubation Center(SMVDU TBIC) for the students and budding entrepreneurs in the region. The event was attended by more than 50 participants and organised under SMVDUTBIC’s flagship programme, “100 Startups J&K”; recently launched by Honorable Vice Chancellor Shri Mata Vaishno Devi University.
Dr. Sharma shared that especially when India is witnessing more inclination towards entrepreneurial aspects, it is extremely important to devise a strategy and create a basic business plan which can be transformed further. He also emphasised on the reasons why few startups suffer due to lack of business plan and financial forecasting. Financial planning for a business is the integral part of the blueprint to be prepared. The capitalists, banks, investors deep dive into such areas in order to make future investments.
Nowadays, the world of business has witnessed the replacement of traditional by modern methods. Product life cycle are getting shorter, models are constantly changing due to which new business model canvas has made an entry in the field. A wise and effective use of canvas really helps in growth of business.
The session was concluded with an open intercative discussion with examples of startups. The aim of conducting such workshops is to encourage open dialog among the entreperenurs of the region and faciliatte them thoroughly. To know more about these and other programmes one should visit the official website www.smvdutbic.org