The first day of session on 28th June was successfully ended where two professional speakers Sixit Bhatt and Prayas Upadhaya had contributed their meaningful words to the participants talking about what entrepreneurship is and how challenges in the business time period should be tackled with. Having a positive feedback from participants and more to be learned on coming days, first day session had ended almost on 6 pm.
Talking about the second day of ‘Nabil Nari Udhyami Seed Camp’ on 29th June, 2019, the session started as usual with the registration and interaction over breakfast. Interaction session covered the reflection of recent day learned materials and things to be discussed on present day. After a break and reflection interactive session, on around 9:00 am the first speaker of day was presented. He was Bibhusan Bista, a co-founder and CEO of Young Innovations. Mr. Bibhusan Bista had talked about BMC (Business Model Canvas). Business Model Canvas is a strategic management and lean startup template for developing new or documenting existing business models. Firstly he talked about what business model is in 30 sec and then talked about how organization can create, deliver and capture its values. He focused mainly on connecting suppliers and customers which is the major target for every business people. Talking about various aspects of BMC such as value proposition, establishing relationships, identifying the risk which is through hypothesis creation at first and brainstorming market distribution strategy, he enabled participants to create a complete and robust business model. He basically focused on 1:3 model. For better understanding on BMC and its preparation he talked about his company. However, he had been repeatedly talking about identification of our users and customers and for that it is necessary to prepare customer segmented data base as it would help to position customers.
In addition, he had also talked about value proposition. Value proposition means what customers care about and get from services. Adding to his points he said that before creating a value, any business person should get to understand the customers well and then first pinpoint their pain, recognize the solution or gain from that pain and then finally make a decision. He also talked how channel is important. In meanwhile of his session, teams were given to create the first draft of your business model canvas which most of them hadn’t considered previously. Bibhusan Bista and Ruchin Singh co-ordinated with the team for building BMC. At the end, Bibhusan Bista ended his session with a saying that ‘ every entrepreneurs should think that they are helping the country’.
Next session was from the Narottam Aryal, executive director of King’s Colleges. At the beginning he started with ‘don’t assume in a start-up’. He talked about basic qualities any business man should have such as more organized, human centric, high on emotional intelligence, patience and nurturing. Nari or ‘women’ is necessary I every team because they in nature holds all those characteristics as well women leaders are known as a better leader. After that he talked about the lean start up. Lean start up is all about learning more quickly on what works and discarding what doesn’t work. It means ideas should not be planned finally it should be tested, validated and experimented frequently. He says, before launching it is necessary to conceptualize. He focused on methodology of developing business and products where he says that job of a business man is to find the need and solve the expectations of the customers. But before that always start up with base or minimum capital and then build only your minimum viable product which is created from hypothesis. Only after hypothesis testing and feedback from your customers you should move on and if you cannot get into the heart and mind of your customers means you think you cannot get return from your investment then it is better to not to spend money and think of other ideas. Developing a product cycle , he has explained that rather than taking huge and rapid decision firstly discover if a proposed business model is viable or not which is possible through hypothesis creation.
Session of Narottam Aryal was ended in around 1:00 pm and after that 1-2pm was launch time with networking where team members, mentors and organizers sat together and discussed the opportunities and challenges of their BMC.
After the launch, the final session for a day was of Udgum Khadka, an Educational designer and faculty of Marketing and Entrepreneurship. The major focus of Mr. Udgum Khadka was prototype building. He said that prototype building helps to bring idea into life. The major objective of prototype building is to visualize and understand the ideas, abstract idea to tangible products and have quick and cheap planning. Through his speech and some examples he explored the various ways to develop prototypes as well as various resources and challenges of bringing the ideas to life. The session ended on 4:00 pm.
A short coffee break was done for half an hour after that. And then from 4:30 – 6:00 pm teams are given time to prepare their final BMC with the guidance of their mentors and learning from the day sessions. Once they completed their BMC, they had presented their idea and given feedback by speakers. In this way at the end of the day, participants had known about BMC, Value proposition and Prototype building and preparing the BMC they were able to answer the challenging questions about the practicality of their ideas. In gist, the second day had been more focused on preparing the final draft of the ideas each team had which was more fruitful.