Business Ideas and personality traits of an entrepreneur

Today MYIDentityforwomen conducted an interactive session on how women can become entrepreneurs.

Mr.Parthasarathy, entrepreneur, mentor threw light on many topics.

He also discussed various business options that women can start.

He talked about 'Lakshmi syndrome'. This is referred to the concept that when there are so many oppurtunities around us, we fail to see them and search for an ideal one.

The following are the some of steps that needs to be taken into mind before starting any venture.

1. Gap analysis and research: What is the requirement in today's world. There are so many businesses that give us solution, still there are so many gaps that are not addressed. Identify that gap and research on that.

2.  Brainstorm the ideas with your friends, relatives, colleagues. Get their inputs. You will be amazed at the questions that they are asking on that product or service whatever you are launching. This makes you ready to answer questions from anywhere.

3. Assess what skills you have to produce that market or service and if you have the expertise to do it. Personality traits plays a key role here.

4. Build a solution model based on your research and collect data on how to actually implement it.

5. Prepare a project report that talks about the implementation, cost and the Return on Investment.

6. Start selling your concept to Venture capitalist, angel investors or banks to get your funding.

Solar business - 1

How to get into Solar business?

Everyone must be hearing about solar panels and going eco-friendly. My opinion is that since the Sun God shine on us abundantly we should make use of the resource optimally.

If you have been thinking that solar business is only for men then here are the inputs to think otherwise.

Women can get into production of solar panels, maintenance of installation and also market for orders.

You either market for solar panel installation or you can into production.

When you are marketing for solar panel installations, its easy as you get a referral fee or commission from the installation team. That depends on the size of the project. Small installation small amount, big one, big amount.

Your job is to just give contacts of people who will be interested in solar installation.

Who are the potential people that you can contact?

Building owners, apartment owners, schools, colleges.

Before you contact people for installation, remember to have lot of information in your hand. You should have statistical data on the following

1.       What is the cost that will be incurred to setup a solar panel for their requirements?

2.       What will be the savings that the owners reap if the panels are installed.

3.       What will be the maintenance routine?
       What are the schemes that govt gives subsidy for installation?
     
       More info on my next post.
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