Harsh RB

ICT Academy entrepreneurship program

4 min read

Team: Beyond Borders

Our Team Charter

“We will listen before we speak, trust before we doubt, and support each other no matter the challenge.”

Team Ideas & Members

  • Team Members:
    • David
    • Gangothri
    • Harsh
    • Aarthi

Core Entrepreneurial Concepts

  • Key Pillars of a Venture:
    • Communication: Sharing the vision and working together.
    • Collaboration: Leveraging team skills effectively.
    • Creating Value: Solving a real problem for a customer.
    • MVP (Minimum Viable Product): The simplest version of your product to test the market.
  • Types of Enterprises:
    • Startup (High-growth, innovative)
    • Small Businesses / MSMEs (Often local, lifestyle-focused)
    • Social Enterprises (Mission-driven, for-profit or non-profit)
    • Family Enterprises (Family-owned and operated)
    • Student/College Ventures (Started during studies)
    • Intrapreneurship (Acting like an entrepreneur inside a large company)
  • Key Distinctions:
    • Entrepreneur vs. Small Business Owner vs. Manager

The Entrepreneurial Profile

  • Essential Traits:
    • Initiative: Starting things without being asked.
    • Creativity: Thinking of new solutions.
    • Risk-Taking: Willingness to face uncertainty.
    • Persistence: Sticking with it, even when it’s hard.
    • Leadership: Inspiring and guiding others.
    • Problem-Solving: Finding a way through challenges.
    • Resourcefulness: Making the most of what you have.
    • Customer Orientation
  • Mindset & Motivation:

    • Growth Mindset: Believing skills can be developed (vs. Fixed Mindset).

    • Motivational Drivers: The need for Achievement, Power, or Affiliation.

    • Locus of Control:

      • Internal: You believe you control your destiny.
      • External: You believe outside forces (luck, fate) control your destiny.
  • Attitude Toward Risk:
    • Risk-Adaptive: Adjusting to and embracing risk.
    • Risk-Mitigation: Finding ways to reduce potential downsides.

Business Basics: Finance Example

Here’s a breakdown of the cupcake/snack stall example.

  • Idea: A refillable snack station or cupcake stall.

  • Example Calculation (Cupcake):

    • Selling Price (SP): ₹80
    • Variable Cost (VC): ₹35 (Cost of ingredients, packaging per cupcake)
    • Contribution Margin (CM): ₹45 (SP - VC). This is the profit from one cupcake that “contributes” to paying fixed costs.

  • Key Formulas:

    • Breakeven Point = Fixed Costs / Contribution Margin
      • Example: If your fixed costs (stall rent, etc.) are 4500 / $45) just to break even.
    • Runway: Total Capital / Burn Rate (How long your money lasts)
    • Total Cost: (Quantity Sold x Variable Cost) + Fixed Costs

Activity: Applying Goal Setting (Event Stall)

This looks like an activity to practice the “Goldilocks Goal” principle: setting a goal that is not too hard, not too easy, but just right to be challenging and achievable.

You have two different approaches here:

Plan A: The Collaboration/Auction Stall

  • Goal: Collaborate with at least one potential buyer (another person/team) to share the stall at its base price (like an auction).
  • Action 1 (Feedback): Ask them why they said yes to understand our value proposition.
  • Action 2 (Marketing): Design two posters (one digital for Instagram, one hard copy). Ask friends to share on their stories.
  • Action 3 (Funnel): Create 5-10 fun/creative registration types to see what gets the best reaction.
  • Action 4 (Refinement): Get feedback from close friends on which registration type is most appealing.

Plan B: The Game Stall

  • Goal: Get 100 people to register and play our game.
  • Action 1 (Product): Offer different variants of the game to keep it interesting.
  • Action 2 (Marketing): Use posters (online and offline) and ask friends to share them.
  • Action 3 (Feedback): After each person plays, ask for quick feedback to improve the game in real-time.
  • Outcome: Create an exciting, well-organized stall that leaves visitors smiling.

Personal Development: Goldilocks Goal Example

This is a perfect example of a personal Goldilocks Goal.

  • Vague Goal: “I want to improve my communication skills.”

  • Goldilocks Goal: “I want to improve my communication skills within the next 6 months to become more confident for job interviews and professional discussions.”

  • Actionable Steps (Controllable):

    1. Daily: Read aloud for 20 minutes from books or articles to improve fluency.
    2. Weekly: On weekends, go to a public place (cafe, event) and start a conversation with at least 2 new people.

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