As I wrote on my post One Month Ago, I own you some posts about what I assimilated during the last month. Here we go.
On the 18th of April I attended an Entrepreneurship Experience event about “Dealing with Success and Adversity”, and it revealed itself as one of the most impressive talks hosted at Kingston University I listened to.
Peter Marks MD of Luminar Group, as the first speaker, told us his story of failing and raising and failing and raising again, showing that an entrepreneur should always consider 5 factors before starting a business:
- Idea. People want it? Can we actually make the right margin? Did we make enough market research? What about costumers driving?
- Risk. Be happy with it.
- Toolbox. First we need to learn how to sell.
- Work hard and be nice to people, because people are a resource as much important as capital.
- Know the numbers. Always check and keep them up to date.
Peter underlined as well that decentralization is a crucial point: we need to choose people we trust to work with, in order to give them enough freedom to comply tasks. Otherwise all the job would be necessarily performed by us.
The problem within working just on our own is that since ever we know that more brains have more ideas. If we keep us updated and surrounded by creative and smart people, they could give us more insights. Related to this, we have to improve always our networking activity. If we follow those suggestions we could constantly innovate our business.
It is fundamental to apply innovation in every field of our business, from the market to the company, from the brand to the tech side, from the communication to online presence and conversations. Moreover it is important to create places and experiences for the staff to share, because sharing knowledge thrives innovation as well.
A great viewpoint of Peter to cultivate novelty and keep the momentum going is to involve students via training, to participate to competitions and modify, correct, share, analyze, check, change. Continue to constantly change.
And what we should avoid?
All of us could and will fail, for sure. We should get used to fail. But we should never ever give up.
In addition to that, in order to avoid keeping failing without going on, we should never stop keep being updated, studying, networking, sharing and learning.
Rachel told us her story, her life. A story of great successes, and then great fails.The second speaker was Rachel Elnaugh from the series 1 & 2 of the famous TV show “Dragons’ Den”. I wasn’t a fan of the show, so I admit: I was sceptic about this speech.
She spoke about risk and going always on as well, like Peter. However, what she said which really impressed me was her idea of marketing: a magnetic marketing.
She explained that it is not just like using some focus groups, but it is an emotional marketing: we should not evenfollow the flow, but actually go with it.
She pointed that nowadays companies need to be not women driven, but female driven. Female in sense of including instead of excluding, sharing instead of splitting, embracing instead of pushing.
As entrepreneurs we should follow our soul, our desires, or aspirations, and create a business around it, because we will need passion over all, and courage.