Creating and Nurturing New Ventures - A Journey of Exploration and Learning

As a business student majoring in Marketing at the Institute of Management Technology, Nagpur , I recently had the privilege of taking a course on "Creating and Nurturing New Ventures" by Rajiv Joshi at my institute. It was an intense and rewarding experience that helped me gain a deeper understanding of what it takes to launch and grow a successful new venture.

The content of the course was rich and varied, covering everything from ideation and opportunity assessment to business planning and fundraising. The delivery of the course was equally impressive, with a mix of lectures, case studies, group projects, and audiovisual vignettes from the entrepreneurial ecosystem. The faculty members were knowledgeable, passionate, and supportive, always willing to provide guidance and feedback.

During the course, I had a bunch of "aha" moments that made me think outside the box, analyze things deeply, and plan strategically. For instance, one of the projects required us to come up with a new business idea and develop a business plan around it. It was a daunting task, but it taught me how to identify market gaps, find target customers, test our theories, and create a viable business model.

As a learner, I evolved significantly during the course, developing new skills, knowledge, and attitudes that will serve me well in my future career as an entrepreneur. I learned the importance of being persistent, adaptable, and resilient in the face of challenges and setbacks. I also learned the value of collaboration, communication, and networking in building a successful venture.

Some of the key learning takeaways from the course include the importance of:

• Identifying and validating a customer's need before developing a product or service
• Conducting thorough market research to understand the competitive landscape and potential demand
• Developing a sound business plan that outlines the company's vision, mission, strategy, and financial projections
• Building a strong team with complementary skills and shared values
• Leveraging various funding sources, including bootstrapping, angel investment, venture capital, and crowdfunding
• Embracing innovation, creativity, and continuous learning as essential elements of entrepreneurial success

Reflecting on the course, I found the content and learning material to be particularly relevant and engaging. The case studies and video snippets provided a real-world example of successful and failed ventures, highlighting the key factors that contribute to or hinder entrepreneurial success. The course also included several experiential learning opportunities, such as the traversal of the campus looking for an opportunity to innovate, which allowed me to apply what I learned in a practical setting.

The best thing that differentiated the course from any other courses being taught in the curriculum was the gamification of the relevant topics. From the 30 Circles Exercise and Interlocking plastic bricks exercise for kickstarting our imagination and creativity to throwing a ball from different lengths in an attempt to identify our risk-taking capability, various topics were gamified to make the sessions more interactive and exciting along with simplifying the concepts the course instructor was trying to bring forth.

Looking ahead, I believe that the course has equipped me with the knowledge, skills, and mindset to pursue my career plan/path as an entrepreneur. I plan to take this journey forward by applying what I learned to my current and future ventures, seeking out new learning opportunities, and building a supportive network of mentors and peers.

In conclusion, the course "Creating and Nurturing New Ventures" was a transformative learning experience that helped me grow as an entrepreneur and as a person. It gave me the tools and insights I need to pursue my career goals with confidence and resilience. I am grateful to the faculty, and fellow students for making this journey of exploration and learning so rewarding and meaningful.