Tuesday, June 23, 2009

ET Power of Ideas mentoring

Mentoring in Power of Ideas was much awaited phase of the contest. I would say ET has done very remarkable job in managing 254 entrepreneurs. My personal experience of this phase:
My mentor was based in Washington DC. He is the CTO of Care fusion Inc.
We started(& ended up) with the template provided by Indian Angel Network for final B-Plan. After first review of the presentation he pointed out two things:
1. Separate out your product and services
2. There is lot of redundant text. reduce it.

So our initial presentation of 37 slides was reduced to 21 slides after first review and 10 hours of input from me and Mayur.
We reduced the text in each slide by 50%.
My mentor took pain of calling me in the early morning(for him) to discuss marketing plan and business model.
We changed business model and marketing plan as well.
so after 1st review and 1st telephonic conference presentation got clarity in terms of ideas and their implementation.
Then we were asked to use pictorial representation rather than plain text in some slides.
next we discussed financial statement and use of proceeds. Financial statement lacked clarity in terms of no. of sales unit and expenses on hardware.

according to IAN out of total 254 b-plans 10-20% ideas are 'investible'. But I can say it was a life long experience for all 254 participants.

3 comments:

ReferenceBuddy said...

Bigger idea is in mentoring ...
All the best for tough ride ... :)
sir,
y sud u not share the same on our official IIITM Blog(because ur idea is not personal anymore,it's of a national importance now, and ofcourse 1st venture of IIITM incubation center :))
http://iiitm.blogspot.com/

Maansi..... said...

Gentlemen!!!
I here take a pleasure to congratulate you people as it was a commendable job done by you people... this is not only with regard to your college but you represented one of the candidates of the country a learning to all the individuals who aspire for the same and also for the ones who've never thought of reaching these heights.....
I wish i could convey this to people across the wioorld..
I am proud of you all and i am glad that i could read the blog and realize that their are people yet in the country who aspire to bring revolutions against all odds and make a difference.....
I salute your contribution...
Thanks for the insights....
All the best!!!!!

gaurav said...

Kudos Pranjal Sir....Reading ur blog and particularly this ET mentoring section left me in bliss.
This would always be an source of inspiration to all of us.....and probably students elsewhere too.
I once again congratulate you on this.