On September 30th and October 1st 2024, PRIME Meghalaya hosted its fourth bootcamp for Cohort 4.0, bringing together a group of dedicated entrepreneurs at Green Dale Homestay in Tura. Over the two-day program, participants immersed themselves in essential aspects of business growth, focusing on Entrepreneurial Finance, Operational Basics, and Target Setting.
Day 1: Demystifying Entrepreneurial Finance
The bootcamp kicked off with an in-depth session led by Shri Debapratim Das, Senior Mentor of IIMCIP, who guided participants through the basics of entrepreneurial finance. Over seven hours, entrepreneurs worked through concepts like revenue, sales, and profit calculations—equipping them with the tools to navigate their business finances confidently.
The session covered critical sub-topics in finance:
- Cash Flow Projection – Techniques for projecting cash flow accurately.
- Cash Flow Management – Practical tips for tracking and managing expenses.
- Financial Statements – Understanding balance sheets and liquidity to maintain financial clarity.
To end the day, participants engaged in a hands-on exercise where they calculated revenue and learned step-by-step methods for balancing a balance sheet—emphasizing the value of financial accuracy in building sustainable businesses.
Day 2: Strategy and Planning
The second day began with a recap led by Shri Pankaj Baruah from IIMCIP, revisiting key learnings on the “ladder of success” and effective growth strategies. Pankaj also introduced Operational Planning Basics, guiding entrepreneurs to align their resources—Machine, Manpower, and Material (the 3 M’s)—for optimal impact. He then walked the group through the Business Model Canvas, a strategic tool to streamline business planning and bring products to market effectively.
Later in the day, Subir Singha from IIMCIP led a session on Business Planning and Target Setting, using practical examples to show how to set quarterly projections for revenue, market rates, staffing needs, and raw materials. His insights on target setting offered participants a solid approach to monitor progress and meet business milestones.
The bootcamp concluded with interactive activities and feedback sessions, allowing participants to apply what they learned and help shape future bootcamps. PRIME Meghalaya’s 4th Bootcamp provided Cohort 4.0 with a strong foundation in finance, operations, and planning—critical skills that will support these entrepreneurs as they grow their ventures and make a meaningful impact in their communities.
