SME Times News Bureau | 06 Jun, 2011
Entrepreneurs need to evolve business plans to meet the changing environment and cater to the needs of real customers, founder of investor group Indian Angel Network (IAN) Mohit Goyal said recently.
"Good business ideas must cater to the real customer needs, entrepreneurs need to evolve business plans to meet changing needs, identify business risks and evolve a de-risking strategy," Goyal said while launching an entrepreneur's campaign here.
An Indian Institute of Technology (IIT)-Chennai alumnus, Goyal said entrepreneurial ecosystem in the country had been evolving well over the last decade thanks to efforts of successful entrepreneurs.
"Growth of first generation entrepreneurs in India is no longer constrained by lack of funds with bodies like Indian Angel Network funding early stage projects. In addition to funding ideas, the IAN members also mentor them in their early phases," he said.
Goyal said entrepreneurs must find co-promoters with complementary skills so that they can challenge each other's ideas and improve their businesses.
