The second module of the Business Academy for Start-Up Entrepreneurs in Lovech was dedicated to the development of the entrepreneurial idea. The lecturer, Maria Sheitanova, is a former Executive Director and member of the Board of Directors of TOKUDA ​​Bank and the Bulgarian-American Credit Bank, a consultant and entrepreneur with extensive experience in structuring and restructuring, optimization and efficiency improvement projects.

The participants got acquainted with the path and mechanisms from the birth of the idea to its practical implementation. They tracked the stages of research, market environment, product-service, advantages and disadvantages, foreseeable risks and how they should be reflected in the business plan. They looked at the difference between a business idea and an entrepreneurial opportunity and discussed in detail various factors such as environment, industry, markets, people and risks, as well as what should be the driving motivation to overcome these challenges.

The requirements of a good business plan such as content, key points and argumentation, as well as the correct way of presenting these were among the most important topics discussed.

In the second part of the session, the Canvas business model was discussed as well as the interesting history of Starbucks. A role-playing game with the participants being divided into groups took place. Each group had to choose a different entrepreneurial idea and present how they would develop this business.

About the lecturer:

Maria Sheitanova, former Executive Director and member of the Board of Directors of TOKUDA ​​Bank and the Bulgarian-American Credit Bank, consultant and entrepreneur with extensive experience in structuring and restructuring, optimization and efficiency improvement projects. She has a master’s degree in Business Administration from London Business School and a master’s degree in Domestic Trade from the University of National and World Economy.