With the crash in the investment in the 2016, burning money just to get traction (Downloads, GMV, Number of Orders etc) became unfashionable and investors started looking at operational break-even and sustainability. We saw some startups even ran out of money and crash. Some smart ones with good amount of money still in the bank realised that it is not possible to raise money like before and meet the cost of just buying such traction with the margins they make either shrank in reach or completely pivoted their biz model. It became pertinent for entrepreneurs to bootstrap and sustain as long as possible on existing funds.
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With this in mind, as a part of start-up education initiatives, Jaarvis Accelerator in collaboration with CoworkIn hosted a Masterclass Workshop on Bootstrapped Business Plan on 23rd July 2016, which we felt was the need of the hour today for all existing as well as upcoming entrepreneurs. This masterclass was conducted by Anil Chhikara (Principal, Jaarvis Accelerator) who brings with him immense entrepreneurial experience working with own and multiple startups. It was one of a kind, hands-on bootstrapped business plan building experience for young entrepreneurs which gave them an insight on how to control the cash inflow and outflow from a business or an enterprise perspective. It also gave them a lucid idea about how much funds to ask from VCs or Investors in order to utilize the same in an efficient manner.
About: A hands-on open to entrepreneurs to create their own bootstrapped build business plan to minimise the costs, focus on break-even and utilize cash efficiently.
Session 1 was about The Money Plan Hustle. How much money does one’s business really need and when? Often we hear startups or entrepreneurs ask for money for their business but these figures can be confusing or unpractical. Startups tend to sometime ask way more money than they actually require or the other way around. In this session we showed and demonstrated them what is the actual money they would require by creating a sample biz plan. This included all the costs their company might incur during its course in sales, marketing, manpower, infrastructure, technology etc.
This was followed by Lunch & Networking.
Session 2 was about creating your own Bootstrapped Business Plan. In this session we provided a basic template and everyone present were required to have develop their business plan from the scratch to understand how much money do they need, when do they need and how soon can they be cash flow positive on a monthly basis.
Jaarvis Accelerator is looking forward to do a series of similar workshops and events Pan India and we encourage young entrepreneurs to come get inspired.
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About The Author:
Sayantan Dasgupta is the Corporate Communication Manager for Jaarvis Accelerator.