Recently, I participated in an Entrepreneurship Development Program.
So what is an E.D.P?
Well it is just a programme- containing a classroom with some essentials, in the form of guidelines projected for us to become better entrepreneurs of tommorow.
For us it was a motivational training session, of 3-4 weeks duration. It was set on the guidelines of prevalent socio-economic conditions, for us to identify business oppurtunities. On the basis of our initial business idea they help us prepare a stable business model to present before the investors. These entrepreneurship programmes are very helpful for budding start-ups.
Objectives of EDP:
The major objectives of the Entrepreneurship Development Programmes (EDPs) are to:
- Develop and strengthen the entrepreneurial quality, i.e. motivation or need for achievement.
- Analyse environmental set up relating to small industry and small business.
- Select the product.
- Formulate proposal for the product.
- Understand the process and procedure involved in setting up a small enterprise.
- Know the sources of help and support available for starting a small scale industry.
- Acquire the necessary managerial skills required to run a small-scale industry.
- Know the pros and cons in becoming an entrepreneur.
- Appreciate the needed entrepreneurial discipline.k. Let the entrepreneur himself / herself set or reset objectives for his / her enterprise and strive for their realization.
- Prepare him / her to accept the uncertainty in running a business.
- Enable him / her to take decisions.
- Enable to communicate clearly and effectively.
- Develop a broad vision about the business.
- Make him subscribe to the industrial democracy.
- Develop passion for integrity and honesty.
- Make him learn compliance with law.
Ours was conducted by the Young Indians under the name of Yu-Start (E.D.P name), and we were a team of four- all segmented to research and work on our plan. While one looks after the legal affairs of the business, the other needs to construct a finance model for the investors to seek out the profit from our business idea in the near future. The third looks out on how the organization will conduct it’s business idea and the fourth looks out for the competition and marketing strategy of the business. This is how we worked out for the month transforming only an idea into a well constructed business plan ready to be presented before the investors. The mentors train us in polishing our skills and abilities to become better entrepreneurs.
Thus, the concept of practical environment the entrepreneur is about to step into is clarified to some extent in his mind a person needs to establish and run his/her entreprise.