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29 Sep, 2023

Expert Talk on “Preparation of Business Plan”

School: School of Management Studies

Towards the professional development and student enrichment, School of Management Studies, CT University organized an expert talk on “Preparation of Business Plan”. Prof. Naresh Sachdev, Head of Entrepreneurship Development Cell at PCTE Badowal was the guest speaker. He has over 30 years of professional and academic experience. The session was attended by students and faculty members of School of Management studies. The session was very informative for the students about how to prepare a business plan and its importance for budding entrepreneurs. He expressed that, “A good business plan leads to success of an entrepreneur. To be an entrepreneur and to make the start-up a successful one, there needs to be some purpose, passion, dire need and drive. Nowadays, profits are exponential and are not the only purpose of starting a startup or new business. Making money is not a problem but giving solution to a problem is a problem which is resolved with the help of good business plan. The purpose of a good business plan is alignment of team, operating plan, communication, investment capital, expansion capital, merger/acquisition process. To prepare a business plan, the pitch line needs to be attractive enough and it must include all the important points e.g. unique selling propositions (USPs), SWOT analysis, targeted audience, competitive analysis, future plans, milestones, team style, and most importantly, nowadays, pitch on social media.” He enlightened the students about the opportunities in the market where in a person needs passion and internal drive to be a successful entrepreneur. He provided various real life examples of entrepreneurs who achieved success through their strong and effective business plan. Dr. Hemant Sharma, Pro VC CT University was also present in the session and gave vote of thanks to the speaker.

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