During the EDHEC Business camp, I have learned many new topics on entrepreneurship ‎which gives me more knowledge. The first thing I remember ‘Practice is important to ‎develop idea’. So, obviously entrepreneur needs to practice more and more in practical. ‎For entrepreneur, they should know what they do not know. Also should know, what they ‎know. In decision model sometimes they should act in sense.‎

Entrepreneurial Reasoning:
Three elements

1. Opportunity
What is the opportunity of your business in market? It will describe a ‎real need.‎

2. Product
Professor explained about it ‘a product that responds to a precise aspect/ ‎a precise manifestation of the opportunity’.‎

3. Business model
It simply should research is it possible to make a profit out of this ‎business plan?? This is the finality.‎

I also acquired enough idea about different business model. How Business model ‎works, importance of cash flow management. I also point out another two vital ‎reasons for business failure from professor’s lecture.

There are- 1) Not ‎understanding the business, 2) Cash-flow failure (insolvency). Cash flow nirvana: ‎Buy low, sell high, collect early, pay late- potentially perfect solvency.
As a ‎entrepreneur this model can help to deal business perfectly.‎

Some key technical points: How to write a great business plan ‎
• Numbers (Too many) versus information(Too little)‎
• Four independent factors critical to (determining?) The success of every new ‎venture, and the specific questions related to each factor.‎
• Economically viable access to customers, and the cash-flow implications of ‎the new venture idea.‎

Source: Sahlam, William A, How to write a great business plan, Harvard Business ‎Review (July-August 1997)98-108‎

Finally it is good to remember that business plan should follow KISS (keep it short ‎and simple).

But also refer to often and update and change frequently according to ‎environmental changes of business. ‎

Professor Charles Hampden-Turner from University of Cambridge delivered an ‎Indispensable lecture in EDHEC business camp. The topic was ‘Paradox and ‎Dilemma’. Personally the topic was hard for me to understand properly. But at last I ‎got a question answer what makes good leader different than common leader? The ‎answer was- ‘A good leader always have ability to take enough risk for ‎businesses’.‎

This part is for academic learning issues. But I enjoyed a lot and get a nice ‎experience from beautiful Nice. Nice city itself very pleasant. The international ‎environment in school motivated me to go ahead with my business plan.The ‎business angels were really experienced person. It was really great conversation ‎with them to have a checklist for own business plan. Overall EDHEC business camp ‎was very effective for me from different prospective.‎

I would like to thanks who were involve in selection. It’s my pleasure to attend this ‎business camp. Thank you LAUREA.‎

By Abeera Sultana