Experience 1 : failure of my first venture as an entrepreneur

During the first year of Irma I had been a part of Jooz-i which is a juice selling start-up of Irma. I was a part
of it for nearly 5 months and during these 5 months we could not succeed to make it a profitable venture.
So after that I keep on thinking why we failed as a startup at the first place, and I could see various issues
in our business planning which lead to the overall failure of the venture:

1 concept ( a brief overview including company structure, employees and their roles, A brief description
of products and services the company plans to provide along with their USPs, the nature of the business
and its short- and long-term goals) was not well defined.

2 . Organization (a detailed report how the company may operate was required) clarity was missing.

3 Market Analysis ( STP and 4ps analysis of our target audience , DNPEST and competitor analysis was
required to have a though analysis of our market )

4 strategy (detailed plan for execution and what we are likely to do to achieve further growth) had to be
defined Operations and procurement processes were not well defined/codified / no service blueprint
made to ensure consistency in our services

5 Financial analysis (thorough analysis of the numbers of the business, like break even analysis and 5 year
growth projections etc.)Every day sales requirement and targets had to be defined. Also product margins
and 5 year growth projections had to be decided accordingly.
Since we failed to have a sound B-plan at the first place we failed miserably as a business.

Experience-2:
I have done my SIS internship in BAIF working with various FPOs and co-operatives of member WADI
owners, analyzing the entire kesar mango value chain (sourcing- procurement- processing –logistic and
transport- sales and forward linkage) of these co-operatives, making B-Plan for them and solving their
entrepreneurial issues at ground level.
I had made visits to Amalsad , Gandevi and a few other successful co-operatives in the proximity and
compared their functioning based on the above 5 points (concept, market analysis, strategy , financial
analysis with my co-operative and a huge difference was observed in their clarity of their business among
the members. Successful co-operatives had focus on patronage centrality, domain centrality and member
centrality of the co-operative. Here the measure of success is not just the profits it generate but also the
value that the co-operative creates for its members. Member control and professional management is
required for developing such successful co-operatives and FPO entities. And hence a sound B-plan and its
effective implementation is requires at the first place for these FPOs to be successful.

Entrepreneurship has been my passion always and I want to continue working with FPOs in future. Hence
this course becomes very essential for me as I will get to work with these FPOs under your guidance which
will help me learn from you the fundamentals of business planning , implementation and risk management
- both commodity and financial. It will help me improve my skills end knowledge as an entrepreneur and
this learning will help me in my future ventures.