An Introduction to Entrepreneurship and Ideas Generation
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1 An Introduction to Entrepreneurship and Ideas Generation Wednesday, 10 October 2012 Clare Griffiths
2 Agenda Introduction and agenda Intended learning outcomes Speed networking An overview of beepurple Entrepreneurship and enterprise skills Generating ideas for new businesses Innovation in business Next steps Useful links
3 Intended Learning Outcomes Knowledge An understanding of the concepts of creativity, innovation and entrepreneurship An understanding of how to generate ideas Skills Think creatively Generate ideas (for new products, services and projects) Work in groups Communicate with team members Work under pressure, and to tight deadlines
4 Speed Networking
5 Review of the First Workshop
6 What do beepurple do? Enterprise skills development workshops Entrepreneurship master classes One-to-one business support sessions 5-day business start-up summer school, UltraViolet Annual ideas competition Innovation and charity challenges Open mic nights Networking sessions with local SMEs
7 What s in it for you? You can enhance your employability; You can start to build and develop your professional network; You gain the necessary support (from the enterprise team and other beepurple members) to develop your entrepreneurial ideas; You create your own employment!
8 Some of our student and graduate ventures
9 Entrepreneurship and Enterprise Skills
10 Entrepreneurship What do you mean by that? Making positive changes? Taking calculated risks? Setting up a business? Doing things differently? Making money?
11 Entrepreneurship What do you mean by that? Having an idea (Creativity) Turning it into reality (Innovation) Entrepreneurship
12 Enterprise skills What are they? Why are they important?
13 Generating Ideas
14 Sources for generating ideas for new ventures! Research has shown that there are four main sources for generating business ideas: 1. Invent something new 2. Copy someone else s idea and improve it 3. Spot a gap in the market/answer an unmet need 4. Use your own skills and interests
15 How do I come up with ideas for new ventures? Use the needs, market, skills, and passion matrix; Look at other people s businesses, and improve them; Reflect on your own experiences as a consumer; Read through newspapers, magazines, and online directories for inspiration; Look at a product or service, and apply it to a different industry or setting; Use the gap analysis technique; Use word association/random words stimulus.
16 The Needs, Market, Skills, Passion Matrix Needs Market Skills and Capacity Passion
17 The Gap Analysis Technique How can you get from A to B, doing something which roughly falls between walking and riding a bike? A B
18 All you need is an idea... a good one!
19 Generating Ideas for New Products, Services, or Community Projects Group Exercise 1. Split into groups. 2. You have 10 minutes to develop an idea which uses some of the skills, interests, and hobbies of your group members. 3. Find out what the skills, interests and hobbies are of each group member, and then brainstorm with your group, to come up with an idea for a new product, service or community project. 4. When prompted, tell the other students about your group s idea.
20 Generating Ideas for New Products, Services, or Community Projects Group Exercise 1. Split into groups. 2. You have 10 minutes to develop an idea using the random words as a prompt. 3. Once you have read the words, brainstorm with your group, to come up with an idea for a new product, service or community project. 4. When prompted, tell the other students about your group s idea.
21 Redundancy Books Imagination Blogs Websites Paper Sports Technology Tables Poverty Black hole Blue Communities Pets Environment Magazines Table cloth Sofa Children Yellow Snacks Celebrities Obesity Jam jars Feet Drinks Walking Cardboard Boxes Evacuation
22 Innovation in Business
23 What is innovation? 1. Generating ideas A process: The management of ideas and change 5. Creating value 2. Selecting Ideas TURNING IDEAS INTO REALITY 4. Testing ideas 3. Analysing ideas HAVING IDEAS
24 Products and Services Communication Processes Partnership Work Where can a business innovate? People Business Model Use of Technology
25 Products and Services
26 Products and Services
27 Processes
28 People
29 Use of Technology
30 Use of Technology
31 Business Model
32 Business Model
33 Partnership Work
34 Communication
35 Products and Services Communication Processes Partnership Work Where can a business innovate? People Business Model Use of Technology
36 Next Steps
37 Vision Products and Services Benefits and Impact What s in it for you? What are you selling? What s in it for your customers? Customers and Competitors Who are you selling to? Who is already doing it? Marketing Activities How are you going to tell people about what you do/sell? External Environment What s happening in the world that could affect your business? Operations and Risks Where and how are you going to do this? What could go wrong? Me and My Team Who s going to help you with this? Costs and Income What money is going to be coming in and out of your business?
38 Start-Up Check List There are lots of things you will need to do, before you start your own business. These are the key areas of work you need to carry out and/or consider, before you start up. Write some form of a business plan Carry out some market research Address all the legalities (e.g. Register with HMRC and with Companies House, if necessary) Calculate how much funding you need Plan your marketing carefully Protect your intellectual property
39 Useful Links
40 Business Support Organisations Beepurple University of Brighton s Entrepreneurship Network Shell LiveWIRE Supporting young entrepreneurs/business start-ups Revenue and Customs Business Link Online support for business of all sizes Intellectual Property Office Official body for protecting IP Springwise.Com An Inspiring Database of Innovative Products/Services Unltd Supporting Social Entrepreneurs To Turn Their Ideas Into Reality
41 Keep in contact! Clare Griffiths Business Development Manager (Entrepreneurship) Phone: Mobile: Website: Like us on Facebook and follow beepurple on Twitter too!
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