PRIME Meghalaya successfully conducted the 3rd Bootcamp for the entrepreneurs of Cohort 5.0, held on the 22nd and 23rd of July 2023 at The Shillong Club, Shillong. The focus of this two-day immersive session was on developing a robust Go-To-Market (GtM) strategy—a fundamental need for any startup aiming to reach its customers and scale effectively.
The sessions were led by Shri Sanjoy Sen, a seasoned mentor from IIM Calcutta Innovation Park (IIMCIP), who brought years of strategic expertise to the bootcamp. With a focus on practical learning, the bootcamp was designed to help early-stage entrepreneurs sharpen their understanding of three essential business fundamentals: Go-To-Market Strategy, Pricing, and Unit Economics.
Day 1: Crafting a Go-To-Market Strategy
Day 1 of the bootcamp was dedicated to understanding what it truly means to take a product or service to market. Entrepreneurs explored how to identify and understand their target customers, map their touchpoints, and develop communication strategies that resonate with customer needs.
One of the key highlights of the session was the use of the Value Proposition Canvas, a tool that helps businesses align their product offerings with the actual pain points and desires of their customers. Participants also worked through three core GtM questions:
- Who would buy my product?
- Why would they choose my product over competitors?
- How do I reach them?
Through the lens of successful PRIME-supported businesses like Fika Coffee and Boba Bae, participants examined strategies using the Growth Matrix and the AIDA model (Awareness, Interest, Desire, Action). The session also included insights into both traditional and digital promotion channels—tailored specifically to Meghalaya’s market environment—making the content highly relevant and actionable.
Day 2: Pricing Strategies and Unit Economics
The second day shifted focus to the financial aspects of business. In the first half, entrepreneurs explored pricing strategies—how customer perception, competition, and cost influence the final price point. The session covered multiple pricing models, including Skimming, Penetration, Premium, Freemium, and Bundle Pricing, helping entrepreneurs understand when and how to apply each model effectively.
In the second half, the workshop transitioned into unit economics, equipping participants with tools to evaluate the sustainability and profitability of their business models. Key concepts such as fixed vs. variable costs, gross profit, contribution margin, and net profit were broken down and explained through relatable business examples.
A particularly engaging moment was the case study of Meena Achaar Co., which demonstrated how pricing decisions are deeply linked to cost structures and long-term profitability. Entrepreneurs also learned to perform break-even analysis and ROI calculations—crucial tools for planning growth and managing risk.
A Step Towards Sustainable Scale
This bootcamp wasn’t just a theoretical exercise—it was a hands-on, mentor-led experience designed to provide entrepreneurs with clarity, confidence, and capability. With tailored frameworks, real-world business cases, and measurable tools in hand, the entrepreneurs of Cohort 5.0 are now better equipped to scale their ventures in a competitive marketplace.
As PRIME Meghalaya continues to nurture innovation and entrepreneurial growth in the state, initiatives like these bootcamps serve as a critical foundation for building a resilient startup ecosystem in the region.