Workshop held to reignite entrepreneurial spirit

Strong plan, right team are the decisive factors between success and failure.

KARACHI:

Business start-ups are not as easy as perceived and without entrepreneurial passion the impact will be negligible on the market, speakers stressed at a workshop titled ‘The nuts and bolts of a start-up: A workshop for entrepreneurs’.

To jump into the business battlefield, one must have a clear vision and a plan for the start-up. The three prerequisites for business start-ups are: evaluate the market, build a strong team and choose a committed co-founder.

Danish Munir, a computer engineer, with his colleague, Abdul Rahman, shared ideas and planning for start-ups in the workshop at the T2F, where students and others attended to clear their minds on how to realise the dream of entrepreneurship.

“We are here to solve an unsolved problem and to fulfil a passion,” Munir told the participants who were keen to jot down tips on how to start a business. “Why a pan wala (owner of a betel leaf shop) cannot start a company or expand his business,” he asked. “A business is meant to mature in weeks or months not in years,” he said.



Speakers said that without the entrepreneurial spirit, the right team and a smart product, it would not be wise to take the initiative.

“What are you trying to change? What problem are you trying to solve? Does your idea meet an unmet need? Is it a product or a service? What is your compelling vision?” they asked the participants and discussed in details that without thorough business planning the business is bound to fail.

At a location of a new start-up, Munir said that it was crucial to know the target market and their strengths and weaknesses. “You must be actually able to quantify the demand for the product/service and to do this one must research and evaluate the market before going all in,” he added.

It was urged that without committed co-founders and dedicated team members, a new business cannot grow smoothly. “You must make sure that others also get their share,” Munir urged. “Do not haste in choosing your team.”

He advised that the perfect team can be the decisive factor between success and failure.

Published in The Express Tribune, January 27^th, 2013.

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