The latest episode of The Entrepreneur’s Diary podcast had the privilege of having a seasoned business analyst as a guest. Parastoo Jalili is renowned for her expertise in evaluating business plans and mentoring entrepreneurs. Our discussion explored essential aspects of entrepreneurship, from crafting strong business plans to understanding customer psychology and fostering effective company culture.

The podcast is hosted by Savonia student Kelvin Aliche.

Crafting a Strong Business Plan

Parastoo emphasized that a strong business plan combines clarity, innovation, and feasibility. It should address a genuine market need, backed by thorough research and realistic financial projections. Moreover, adaptability is key—a good business plan evolves with market feedback.

Entrepreneurs without an MBA can still succeed by leveraging passion, resourcefulness, and a willingness to learn. Parastoo highlighted traits like resilience, curiosity, and adaptability as crucial. Before drafting a business plan, aspiring entrepreneurs should focus on deeply understanding their product, market, and unique value proposition.

Common Challenges in Starting a Business

In Finland, entrepreneurs face challenges such as navigating regulations, building networks, and securing funding. International markets add cultural and logistical hurdles. Parastoo stressed persistence and the value of local resources like business incubators and mentorship programs to overcome these barriers.

Understanding Customers: The Role of Psychology

Knowing customers’ physical and psychological needs is pivotal. Parastoo underscored the role of customer psychology in shaping purchasing decisions. Entrepreneurs must understand their audience’s motivations and preferences to develop products and marketing strategies that resonate.

Building a Positive Company Culture and the Importance of numbers in business

Parastoo defined effective company culture as one rooted in trust, transparency, and mutual respect. A positive culture aligns with organizational values and fosters collaboration. Leadership plays a critical role in setting the tone, which helps attract and retain talent.
Parastoo highlighted the crucial role of financial literacy for early-stage entrepreneurs. Strong financial skills are essential for budgeting, forecasting, and decision-making. She recommended developing a solid understanding of key metrics and seeking professional guidance when needed.

Key Advice for Entrepreneurs and conclusion

Parastoo’s key advice for entrepreneurs was to “Stay curious and resilient.” She encouraged embracing challenges as opportunities for growth, seeking feedback, and building a strong support network to navigate the ups and downs of entrepreneurship.
Parastoo Jalili’s insights provide invaluable guidance for entrepreneurs. From crafting adaptable business plans to understanding customer psychology and fostering positive company culture, her advice highlights the importance of combining knowledge, adaptability, and resilience to achieve success in business.

The Entrepreneur’s Diary podcast author:

Kelvin Aliche, kelvin.aliche@edu.savonia.fi

Co-Producers:

Matti Laitinen, Innovation advisor, matti.laitinen@savonia.fi, Business Center North Savo
Suvi Suutarinen, Mynursie Oy
Jussi Nivamo, Savonia University of Applied Sciences

Podcast has been done in Collaboration with Business Center North-Savo – Check out the support activities for entrepreneurship and innovation

Business Center Pohjois-Savo: www.bcpohjois-savo.fi

Entrepreneurship and innovation skills in Savonia: https://www.savonia. fi/study-degree/information-about-study/innovation-competence/