Pakistan Software Houses Association for IT and ITES (P@SHA) conducted the first of its two week Startup Workshop session with renowned serial entrepreneur, author, coach, trainer, actuary and computer scientist Jawwad Farid on March 29, 2014 at Karachi School of Business & Leadership (KSBL).
The entrepreneurial crash course was held on two consecutive Saturdays March 29 and April 5 with a comprehensive learning plan on how to start and run a business. The workshop was designed for young entrepreneurs and focused on the effort required to take an idea from conception to commercial reality.
It was ideal for current final year students enrolled in campuses at universities in Karachi who are interested in exploring the startup yellow brick road. A group of twenty-five participants and potential entrepreneurs were selected to participate at the workshop after a thorough screening process conducted by the trainer himself.
The course focused on five key elements that one needs to understand to successfully run a new business:
- Strategic Thought
- Product Development
Jawwad Farid kicked off the workshop by explaining the “Startup Process” to the audience. He emphasized on the concept of respecting the intelligence of the buyer. Talking about failures, Farid explained why failure is a necessary first step for becoming a successful entrepreneur as he said, “The idea is to fail quickly and then move on.”
Answering the key concerns of the future entrepreneurs, Jawwad Farid highlighted that scale should never be the primary concern for a startup, while selling on the edge is the only shot for startup success.
During the second half of the session, Farid talked about profiles, pains and pitching at length. An important part of the discussion was on understanding ones customers when Jawwad Farid mentioned, “Customers like buying from people like them…knowing the customer, therefore is the key.”
Before calling it a day, Farid engaged the participants with adverts that highlighted functional and emotional consumer needs, which was one of the most interesting segment of the day.
The final session of the workshop was held on Saturday April 5, 2014 at KSBL where Jawwad Farid shed knowledge on creating a viable and sustainable business, analyzing the idea and assessing its investment potential, mapping the interaction between product development, strategy and pitching ideas along with some interesting product development exercises, creating viable executive summary and pitching guidelines.
Follow this space for updates on the final session of the Startup Workshop with Jawwad Farid.