Summary of my workshop at TC/1

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This was a workshop at conducted for Startup Weekend at The Coalition on 15th March 2014. Here’s a summary of what we covered:

  1. Different stages of the venture are fundamentally different – the entrepreneur has to change roles from the DOER to a MANAGER to a LEADER
  2. A good product is not the same as a good business – you have to design a business around a good product or service
  3. Personal readiness and organizational readiness are important – Check the presentation for my 10×10 scorecard on personal and organizational readiness
  4. Delegation is difficult – but critical – If you do not delegate, you will become the bottleneck
  5. Hire Rockstars – An entrepreneur’s role is to attract and retain good people – Spend 30% of your time on HR – hire people smarter than yourself
  6. Have a business plan that outlines what you want to do and how you will do it
  7. Clearly identify and align with your motivations – ensure that all founders are aligned on the goals and vision and direction
  8. Redefining your business opens new possibilities – don’t describe your business by the product or service that you currently offer – define it as the problem you solve – check notes in my presentation 
  9. Visualize your goals, milestones and activities – first define them clearly
  10. Identify key stakeholders and have a plan to engage them
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Author: Prajakt Raut

Prajakt Raut is the founder of Applyifi.com, and author of the book for startups - ‘Starting Up & Fund Raising’ Prajakt personal goal in life is to encourage and assist a 100,000 people to become entrepreneurs. _____________ Prajakt is the founder of Applyifi - an online platform that provides startups a 36-point scorecard and assessment report on the venture's investment readiness [www.applyifi.com], and helps them improve their odds of getting funded. Prajakt is also the founding partner of The Growth Labs, a platform where growth-stage companies get sharp, incisive advice from senior professionals and experienced entrepreneurs. [www.thegrowthlabs.in] Before starting Applyifi, Prajakt was the head of operations at IAN, founding member of a leading incubator, and the Asia-Director for TiE (2004 - 2007). Previously Prajakt had co-founded Orange Cross, a healthcare services company, and was part of the founding team member of Idealake Technologies. While in college Prajakt had founded a printing business and has spent over 10 years working in leading advertising agencies. Prajakt’s book, ‘Starting Up & Fund Raising’, helps startups understand an investor’s perspective, and helps them improve their odds of getting funded. The book also helps entrepreneurs understand the building blocks of a business.

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