November 24: A panel discussion programme was organised on materialising ideas and making a business sustainable.  The discussion held on November 23 mainly focused on the steps to be taken gradually to sustain a venture.  

Speaking at the discussion programme titled “Are Just Ideas Enough,” Ben Britton, innovation advisor to FieldReady.org Nepal shared that innovation is not enough to run any startup.

“We should also give regular time to get inspiration from others and also get assessment from customers. Since we design products on the basis of the needs of customers, we must properly see to it if we are giving back the idea in form of the product or service to our customers,” he shared.

The panelists included Britton; Sunita Nemaphuki, chairperson of R and D Innovative Solution; Anish Shrestha, co-founder of Yellow Nepal;  and Hempal  Shrestha, co-founder of  Nepal Entrepreneurs’  Hub. Nemaphuki shared that having an idea is just an emotional start. However, with the growth we have to develop rational approach to the processes and start being very careful regarding the financial matters from the beginning. “Hiring an accountant can do a lot to maintain balance in cash flow,” added Nemaphuki.

“Idea as such are not expression for entrepreneurs. The expression is the product or the service. So, creating a viable product which actually addresses the needs of customers is very essential,” shared Hempal Shrestha.

Similarly, Anish Shrestha shared about the importance of networking for any entrepreneur. “It is important to meet people, meet media and be featured in media as well,” he said. He viewed that being popular is just a phase. Nonetheless, it is important to carry your hard work all the time to establish a sustainable business, he said.

The discussion is the second session of Spark Week 2017 organised by NEHUB. The five-day long programme which will include discussions with different players of entrepreneurial ecosystem will continue till November 26.