Jake Baker – Reflective Essay

“To be, or not to be? That is the question.” William Shakespeare.

Introduction

The start-up module has finally allowed me to answer William Shakespeare’s question, after endlessly debating it through University.  Do I or don’t I start up my own business after University? The answer is an undoubtedly yes! This module had developed both my soft and hard skills better than any other module. It has helped build strong foundations from which I can achieve my goal of setting up a health, fitness and adventure business.

During this module I have realised the harder you work on a business the luckier you get. That’s why I have worked very hard on setting up Simplex and as a consequence we returned a fantastic profit from the ICE CAP. Working hard during this module was easy, as I could see developments in both myself and the product. I was able to put theory into practice and make my learning worthwhile.

There has been four key learnings points throughout this module, that have been developed though; taking the Ice Cap to market, learning from mentors, learning from module leaders, making mistakes and by identifying my weaknesses. Learning from the above will be essential when achieving my goal of setting up my own successful business.

Creativity & Passion

Through the product creation phase I learnt that in order to develop a good product or service, you need to be passionate about the subject. I found it extremely difficult to be creative and passionate about others interests. Simplex consisted of five students all with vastly different passions. However the diversity in the group taught me that in order to be creative under pressure and with others interests, I had to talk about others ideas constructively and Look for Inspiration in their areas of interests. Allowing me to identify how I can align my passions with an idea that initially turns me off. By linking the idea of Ice Cap with my love of traveling, I could relate my interest and therefore created passion for the product.

This has improved my ability to create passion and therefore creativity in others interests. This is important when starting my own business, as I will need to develop a number of different creative solutions in a number of subject matters. It will also improve my interpersonal skills while networking and seeking business partners.

 Strengths:

  • Ability to listen to ideas and understand people’s perceptions
  • My creativity and excitement in personal interests

Weaknesses:

  • Stubbornness not to take others ideas over mine
  • My lack of ability to articulate my ideas

Meeting

Leadership & Management

I experienced a steep learning curve in leadership. At the beginning I managed the project like the rest of my modules, with a democratic Laissez fair approach. I did not realise that the rest of the group wanted to be managed. I thought by doing this I would be overbearing, as it was only a University module and not a “real business”. I was very wrong. As soon as I realised the group needed managing we started to see results.

As Managing Director I learnt how different people prefer different management styles. For example some members of the group liked to be told exactly how the job should be done, while others like to be given the objectives so they can go off and do it on their own. Two management styles appeared during Simplex’s stat up, paternalistic and democratic. I learnt how to adapt my management style to each individual. Although I lead a team to a profitable business with a fantastic product, my biggest failing as a Managing Director was not taking it seriously enough. There were many periods where I should have exercised more authority over the group, to ensure we kept on track and maintained momentum.

The lesson I learnt on management that will be implemented into my future business is, leadership and management regardless of the size of the project should always be taken seriously. Also that different people needed to be managed differently in order to get the best out of them.

Strengths

  • My natural leadership ability and feeling confident doing so
  • Emotional awareness allowing me to see how others want to me managed
  • Once a decision is made, I have tenacity and make it happen and accept responsibility if it does not go to plan.

Weaknesses

  • Taking leadership seriously
  • Leading 24/7 and accepting that it is not a 9 to 5 job

Group 1

Presenting

Yet again presenting in this module has been a fantastic learning opportunity. The key learning points are;

  • Present a clear message that informs the listener of the business idea.
  • The importance of appearing and sounding confident while presenting.
  • Confidence and clarity of message is key to listener’s engagement and understanding. By looking confident it helps listeners listen to your message rather than looking at how nervous you are.
  • I learnt how important it is to practice the presentation before hand, this improves delivery and allows the message to be packaged in an engaging manner. Helping to sell both yourself and the product.

The skills I have improved while presenting will allow me to better sell my business ideas after University. By combining innovative Ideas with a well delivered pitch, I will be able convince the listeners and gain buy in and support. I now understand the significance of the how the first 30 seconds of a business or sales pitch, are the most important. These skills will help me when negotiation deals with suppliers, gaining finance, selling the idea and making people believe in my future business.

Strengths:

  • Confidence
  • Ability to catch the audience attention
  • Improvisation

Weaknesses:

  • Articulation
  • Ability to present an idea clearly
  • PowerPoint

 Sales

The start-up module has helped identify my love for selling. I learnt that I have a natural ability to sell a product. My personable non-pushy approach helped me sell 40 Icecaps. I had to leave my inhibitions and establish a mental resilience to rejection. I learnt it could take up to ten no’s to get one yes. Without resilience to rejection I would have never made a sale because I would have been scared of being turned away or embarrassed. It is important to connect to the customer and identify how the product can improve their life. It was essential to highlight a problem that the product solves and our customer can relate too. Without this, I experienced customers walking away and making excuses not to buy the product before I had finish my sales pitch.

I will take resilience to rejection, embarrassment and the ability to overcome nerves to my future business start-up. I learnt in order to make a sale you have to be persistent and professional. I have also learnt to identify different scenarios of how my product or service can solve a customer problem. By identifying multiple scenarios I can adapt my sales pitch to different customers and make a stronger impact. The sale of the Ice Cap have taught me to employ sales people with a personable personality with few inhibitions.

Strengths:

  • Resilience
  • Personable
  • Energy

Weaknesses:

  • Nervous
  • Articulation of sales pitch

IMG_1891

Learning Curve

In addition to the four core learning points, I have learnt that failure and making mistakes is essential to progression. There have been multiple mistakes made during the life cycle of Simplex, including:

  • Accepting poor quality product samples
  • Not taking leadership seriously
  • Poor negotiations with manufactures

Making mistakes is acceptable if you learn from them. Without making mistakes you do not progress because you are not taking enough risk. This module has allowed me to take risks in a safe environment and learn from my mistakes, allowing me to develop my entrepreneurial and business skills. By making mistakes, I have enhanced my knowledge on a variety of topics which I will use during the start-up of my future business.

Thomas A Edison once said when inventing the filament light build “I have not failed. I have just found 10,000 ways that won’t work.” If by making 10,000 mistakes means I can own and run my own business then let it be.

The skills I have learnt during this module have expanded my skillset and understanding of start-ups. The core skills of creativity & passion, leadership & management, presenting and sales have improved my chances of developing a successful health and fitness/adventure business. Early stages of a start-up require a well-rounded person that can adapt to multiple job roles. I believe this module has given me the skills to do so. As well as answering the question, should I start a business? The module has helped me identify my strengths and weaknesses, motivating me to development myself further. Ultimately this experience has pushed me to take risks and step away from my comfort zone. To make life an adventure and embrace the highs and lows that my own business will bring.

Can Cap 2

Mock 1

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Final Count Down

We surpassed our break even point and started to make a profit at Kingston Trade Fair. Only 18 units were sold at the fair due to poor weather, it was freezing cold and raining. Not the  ideal weather to sell a product which one of its main objectives is to keep a drink cold.

Nevertheless Simplex has officially made a profit! Our journey from rags to riches (Ha!) has been one hell of a ride. Lots of lessons have been learnt and news skills have been developed. Our endeavors have resulted in the following achievements:

  • 100 Units Sold
  • £283.16 Sales
  • 47.2% Profit Margin
  • Sold in 6 county’s (Spain, Pakistan, Dubai, Denmark, Norway & UK)
  • 231 Facebook Likes  

We still have a long way to go to make Aprils target of 200 units, but nothing is impossible. The biggest lesson I have learnt so far through participating in the Young Enterprise Award is perseverance and determination is the key to achieving your goals. In the months I worked my hardest the luckier I became.

It would have been easy to admit defeat when our products arrived from China and they were not 100% leak proof or when we didn’t win any awards as Kingston University product fair. But we persevered and our core objective to break even was achieved. Not only that we have made a profit, secured external shareholder capital, gained sponsorship and developed an original product that has not been sold in the UK.

I truly believe that this module has highlighted that the best way to improve and develop personal traits such as Self Belief, Passion ,Flexibility and Vision is to set up and run your own business. When life throws you lemons during your own business venture you learn how to make fantastic lemonade on your own, however when life throws you lemons in a corporate office job it takes 6 weeks for you to find out what someone wants you to do with the lemons.

Why You Should Own Your Own Business 

There are literally one thousand benefits of owning your own business. The link below shows you a handful:

20 Reasons to Start Your Own Business

This module has taught me that setting up your own business is difficult, regardless of the scale or size of the operations. What makes the business is the individuals within it; there are certain traits that people need in order to develop a successful business.

A list of theses traits can be found below:

The 7 Traits of Successful Entrepreneurs

For me the biggest benefit of setting up your own business is the personal traits you develop and the personal development you can achieve. This surpasses the amount of money you can make, the sharper and better developed your entrepreneurial traits are the more money you will make.

“Do. Or do not. There is no try.” – Yoda, Jedi Master.

Market Strategy

Guest speakers from VISA gave us very good insight on how to take our product to market. The following eight steps were highlighted as foundations to formulate a market entry strategy.

1: Be clear about your customer & Target Market

2: Understand the best distribution method

3: Know the Decision Maker

4: Tailor you message

5: Avoid competing on price

6: Think USP be prepared to work on a trial basis

7: Exceed Expectations

8: Measure, evaluate and learn.

Step One

Currently we are focusing on B2C sales in order to gain customer feedback that will be used to improve and enhance our understanding of the real critical success factors that our customers value about our product. The features and benefits that converts a “hummm its alright” to “DAMN, THAT PRODUCTS GOOD!” By understanding what our customers truly value about our product we boost our ability to deliver on step four, five and six.

Corporate Sales

Once we understand what our customers love about our product, we plan to roll out our cooperate sales strategy. Forming a B2B sales team that sells the ICE CAP to businesses as a marketing material. By listening to our customers we will be able to persuade the corporate decision maker on why we add value to their marketing strategy. Delivering a knock out sales pitch on our USP’s and critical success factors combined with evidence that the general consumer loves our product backed and strong B2C sales figures; How could the decision maker turn us down?  

Step Four 

By understanding how our product has an effect on all stakeholders such as the procurement officer, marketing manager and the businesses target audience we give ourselves the tools to effectively tailor our message. Depending on who we speak to this message can be tailored to have maximum impact using a 12 pound glove of persuasion filled with real consumer feedback. It improves our chance of a sale once we have identified who the real decision maker is.

Step Five, Six & Severn 

when we have identified what makes us so special we give ourselves better odds at delivering on step Five, Six and Severn. We build our confidence and enthusiasm that can be used to deliver a passionate pitch on why our product is the best and why we don’t have to compromise on price to gain their business. We will be able to convince the decision makers that our product is better then anything out their, by showing our depth knowledge and understanding on how our product truly impacts on their stakeholders.

Although today hasn’t pinpointed everything we need to know about how we actually take our product to market. it has given us the tools to be build a strong foundation of which to work from.

Kingston Uni Product Fair

Product fair 2

The product fair was a dream!

We managed to sell 15% of our stock meaning we only have to sell 60 more units to break even! Simplex sold the most amount of units out of all of the teams during the product fair. We also received some fantastic feedback on our product and our customers gave us really good ideas on where to sell the product. Two great ideas that emerged were selling to hospitals or care homes and to brand our product for corporate use.

Despite our fantastic sales we failed to secure the best sales pitch prize. We didn’t receive any feedback on how well our sales pitch went or why the winners won the prize. This makes it very difficult to understand how to improve our sales pitch. That being said we sold a large amount of units so our sales couldn’t of been that bad?

I did learn a lot about our stall set up! We managed to get sponsored by Sign Art UK, they provided us with two banners that were designed by us. The banners were fantastic and they made us stand out from the crowed. However, the front of our stall was a bit of a mess. The idea was to create a story board of people using our product and highlight the different types of situations our product can be used. The idea was fantastic however we failed to execute. The front of the stand was made 30 minuets before the fair using resources we found at university. This was poor management and in reflection we should bitten the bullet and scrapped  the images and settled with a plane white front.

 

Effective Product Stall layouts 

For our next product fair I want the team to really stand out and look awesome so I have done some little research.

CRAFT FAIR SECRETS – HOW TO MAKE A GREAT CRAFT FAIR DISPLAY

Craft fair secrets highlights 14 points on how to create a great fair display. For our next fair I will be following two key points; make a mock up at home and pick the right props. If we had made a mock up at home we wouldn’t of had have the problem with the front of the stall. We would of recognized it wasn’t as effective as we initially though and changed it. By creating a mock it would also reduce our set up time and maximized our window for sales. Creating a mock would have also given us the opportunity to play around with our props and help maximize how we make our stall stand out.

Below I have added photos of stalls I believe work very well.

 

 

 

THE ICE CAP

The product has finally arrived from the far lands called China! and they look the part! We made the order on the 15/12/2015 for 200 can coolers with a frosted background and logo. We provided the manufacture with the images and they sent us a picture of a sample after paying $30 for a screen printing set up cost. After accepting the sample the shipment arrived on the 8/01/2016, not too bad at all.

The neoprene can cooler is awesome, the quality is fantastic and its everything we imagined it to be. Short delivery time, efficient contact with the manufacture via email and consistent quality.

Can Cap 5.png

HOWEVER!!!!

The second part of our product the important bit, didn’t work as well as we hoped. Our initial order was for 10 sample units to check the quality and make sure they worked. The samples took 1 week from order to arriving at SIMPLEX HQ (Flat 15 Kingsnympton Park). On the products arrival we tested them out on beer cans. The test was semi successful, the product didn’t keep in 100% of the contents of the can. A few droplets of beer escaped the cap, however due to the approaching deadline of the Kingston product fair we agreed to order more units.

We asked the manufacture to add a rubber seal on the cap slider and around the bottom of the cap. This would prevent leakage and ensure quality for our customers. We ordered 200 green caps as the manufacture told us we had to order 5000 units to have any other colours  manufactured. We was told that we had to manufacture 5000 units per colour and that if we was to order 200 units we had to have green. FINE!

That was until I opened the box a week later…… We revived the following colours in the following quantity’s:

Blue: 4

Green: 16

Orange: 60

Pink: 120!!!!!!!!

The manufacture royal screwed us over. Not only was 55% of our stock made of pink caps that we never asked for the manufactures never fitted the seals. So we have a half baked product that we need to shift. I emailed the supplier and expressed my discontent and his reply was apologetic, he also offered to refund us if we shipped the product back to China. This wasn’t an option due to our low purchase cost and high shipping cost back to China. Also the product fair is in 4 days.

 

Can Cap 2Ice Cap 9

What I have learnt

  • Never accept a sample your not 100% happy with. Regardless how cool they look.
  • Don’t order from a Chinese manufacture that you have not built a trusting relationship with if your deadline is within 2 – 3 weeks.
  • Establish exactly what the manufacture is offering and their requirements as a manufactures.
  • As a team we should have put the samples under rigorous testing before we ordered in bulk. We should have developed a set of criteria for the sample to meet in order for us to agree on its suitability.
  • DEVELOP A CONTINGENCY PLAN IN CASE OF FAILURE

 

Sell Sell Sell!

We have around 4 weeks to Identify, organise and arrange our points of sale before our products arrive from china. Our mentor has given us the objective to start selling units by the 14th of January.

Rachel Elnaugh highlighted at the Enterprise Insight event, the importance of the 3 legged business model and how it aids business development.

The Three Legged Business Model:

  • Sales & Marketing
  • Operations
  • Developing Value

This highlighted the importance of how all three legs have to be strong and well developed in order to be successful. This being said as we have a target to sell by the 14th of January I need to get cracking on where were going to sell the product!

Our initial thought was to sell our product to friends and family, independent stores and online. Then Rachel Elnaugh said it is important to first sell your product to a niche, then build from there. The talk has made me think we need to make our points of sales more specific in order to sell to our target audience:

  • Students
  • Travellers & Commuters
  • Beach Bums
  • Shoppers

We need to make sure our marketing attracts our target audience and make sure its position in high traffic areas that exposes our product to our intended customers. To understand what needs to be done to sell our product I searched why Apple’s branding and sales secrets.

This is what I found!

7 Reasons why your brand will never be as awesome as Apple

So basically I just have to do the opposite and I’m there! The best piece of advice that will help identify the appropriate point of sales and how to attract my customers though branding is point 5 ” You need to grow a pair”

Taking risk! I don’t know where exactly the product is going to sell best or what type of branding our customers prefers. The best thing about the module is that we can try everything until we find something that works. We aren’t expected to be experts in sales and distribution. We are encouraged to try new things and make mistakes. This is how were going to find out where and how to sell our product, through trial and error.

This week I will take with me the importance of the three legged business stool and to try things out if I haven’t got the answer!

As good old Albert once said “Insanity: doing the same thing over and over again and expecting different results.”

Into To The Dragons Den

The dragons den presentation went extremely well! After hours or preparation and endless research on mastering the art of presenting, we nailed it.

Before the dragons den I had no experience presenting to a panel of judges and I have never pitched a product. Despite this, the panel seemed really engaged with the pitch. The content of the presentation convinced the panel we had a good product. The feedback was excellent! The judges told us “You have a real business here, I think you will make money.”

In order to prepare myself for the pitch I looked at the “18 Presentation Tips” supplied to us by the lecturer. There were 3 tips that really stood out to me and helped present in front of the panel.

The Tree Tips:

  • “Slow Down”

Slowing down my presentation allowed me to think about what I needed to say and allow for dramatic pauses and clarity of speech. A result of slowing down the presentation was that the panel could make appropriate notes and follow the flow.

  • “Get Practice”

The group practiced the presentation together around 20 times. The message I had to present, cemented in my head and auto pilot took over. This made me confident about the final presentation as I had the content down to a T. However I had to be careful I didn’t get complacent and forget to emphasise the key points and make it dramatic to entice the listeners.

  • “Have Fun”

Having fun was the most important tip that helped the group and I to relax and enjoy the experience. Making the presentation fun reduced the amount of pressure we initially put ourselves under, making our message clear and hopefully captivating.

Sharpening the Spear

After our feedback and being told we had a real product that could make money, I wanted to improve my presentation skills so I could ACE the next presentation and get some of that Young Enterprise money!

A very dated but useful video I found was “The Presentation Secrets of Steve Jobs”. Steve Jobs is a fantastic presenter that engages and lures his listeners in to what he has to say. Not only that, he helped set up one of the world’s most valuable businesses.

The video can be found below:

The Presentation Secrets of Steve Jobs

Two “secrets” of the video I would like to take forward to our next presentation are:

  • Set the theme

Next time I would like to set the theme at the begging of the presentation to get the audience excited about what’s to come.

  • Buzz words

I need to use more amazing, super doper, fantastic, awesomely epic buzz words in my presentation! This will make our product sound more exciting and retain the listener’s attention.

Below is a like to buzz words I hope to use in my next presentation.

Buzz Lightyear to the Rescue

 

Eureka!

We have smashed through our creative barriers and have now developed a fantastic idea for a product! After applying the steps of how to remain creative under pressure we identified three potential product ideas.

We arranged a meeting with our mentor to discuss the options. His feedback was vital in our decision. He liked all of our ideas and told us to go away and look at the following three areas.

  • Manufacture
  • Competitors
  • Time-scale feasibility

After the group conducted some lengthy research we made our decision…  THE ICE CAP!

The Ice Cap is a a two part product. A re-sealable cap that fits your average drinks tin and is a tailored can warmer.

My only concern was that the group wasn’t passionate about the product. After attending the Enterprise Insights presentation, I identified that it is vital to be passionate in order for a start up to be successful.

As the “Managing Director”, I sat the team down and fired them up. The group seemed motivated to start the project and passion started to ignite for the product. I don’t think the product itself ignited the passion but what motivated the team was the ownerships of roles within the start up.

I wanted to know if it is a necessity to love the product in order to sell it; and after a lot of researching I have come to the conclusion you don’t have to!

Below I have attached some fantastic articles on why loving your product isn’t important.

http://mywifequitherjob.com/why-you-dont-have-to-love-what-you-sell/

http://jebblount.com/love-what-you-sell-to-sell-it/

Don’t get me wrong, the team doesn’t dislike the product, it’s just they aren’t completely excited about it. That being said, we believe in the product. All of us agree it solves a problem and deserves a space on the shelves.

As the “Managing Director” it is up to me to lead the team to success. If we can’t find passion in the product we have to find excitment in doing the best in our marketing, accounting, logistics and sales activities! Empowerment in each discipline, emphasising to take ownership and managing effectively should drive us to success, not the excitement and deep passion in the product.

To improve my motivational management skills, I have turned to Ted Talks. It is extremely important for me to be able to motivate people in order to be successful in the future.

The Video below has given me a better understanding on the theory of motivation.

Understanding the theory of motivation and developing my knowledge of both intrinsic and extrinsic motivation should help me to manage the group effectively.  By learning what motivates the group, we will hopefully achieve  excellent branding, advertising, supplier relations, networks, account management and much more. I believe that this is all achievable without a personal passion in the product.

Back To The Drawing Board

I am constantly told that “Ideas are cheap” and that everyone has them. Lecturers say its the execution and implementation of the idea which is important.

Well yes ideas are cheap but that’s because a lot of them are absolute rubbish! How do you effectively implement and execute poor ideas, stay motivated and remain positive? When it feels like frustration will lead to burnout and inevitably failure.

During week 4, one of the exercises consisted of randomly selecting two words from a pile. Then as a group we had a minute to develop a business idea/product made from the chosen words. The ideas were then pitched to the rest of the class.

Each group stood up and pitched their idea and not one, in my opinion was a decent business idea. Proving to me that ideas are cheap!

As The Wall Street Journal says, good Ideas come from:

  • Having specialist knowledge and identifying an open opportunity
  • Solving problems that occur in day to day life
  • Develop from personal hobby’s
  • Improving existing ideas
  • Stepping into the unknown and adapting something for someone else

I was initially horrified that five business students in their last year of University, could not come up with a viable business idea of which they could act on and be passionate about. Our initial group meetings consisted of brainstorming and trying to identify our specialities and find those daily problems of which to solve. The problem we found was that not one of us could identify any specialist knowledge we had or any problems we needed to solve.

As a group we are strong, knowable, passionate and intellectual. There is no doubt we could run and set up a successfully business. However, the type of business we could successfully run is outside the realms of this module. The problem we are facing is developing a product that will do well in the Bright Minds competition and inevitably get us a good grade.

What I have learnt this week is that approaching deadlines and five over thinking students leads to non-existing problems being solved and poor product ideas. Our determination to do well is creating barriers to creative thinking. Causing us to overlook our good ideas to be replaced with the question “Will this do well in the competition”.

Approaching deadlines and the fear we will fall behind. Is causing us to ignore vital feedback that has been given to us in class and by our friends and family, on the ideas we have. Instead of thinking about creative solutions to the problems identified in feedback we are writing ideas off faster than we can blink an eye resulting in further frustration and in turn restricting the creative process.

Sharpening The Spear:

To overcome our creative block, I decided to do some research in creative thinking under pressure. The article below explains 6 steps to remain creative when under pressure. It is my intention to implement these steps with the group and hopefully we can create an idea that with do well in the competition and sell in the real world!

6 Ways to Stay Creative Under Pressure 

Tools for the future:

The ideas expressed in the article above particularly “Talk About It Constructively” and “Look for Inspiration” will help me when undergoing work that has deadlines and preventing a sense of frustration and demotivation in a group.

Here is an image that shows the three components of creativity.

May The Force Be With You

At the age of 14 it was as if Yoda had tapped me on the shoulder and said “May the entrepreneurial force be with you”. I was a money crazed, success hungry school boy with the goal to earn my first million by 20. I set up my first business in year 9 called “No Job Too Small” Homer Village’s first gardening/handy man service. It was fantastic, my main customers were the local OAP’s and they loved me. I made a small fortune while studying my GCSE’s and A-Levels. However, I realised that earning a million pounds as the village gardener was far from realistic so I started to to think about different business ideas. I had hundreds but I never had the resources, know how or contacts to start them.

I took action on some of my ideas such as “Extreme Training Performance”. A business I set up that sourced and imported fitness equipment from china and then re-branded them with my logo. I sold the fitness equipment on eBay and to personal trainers.

Untitled

I also set up “Bath In a Box” which sourced hand made natural bath products for women. The products were put together in a gift box and sold at fairs.

Both business made a profit but never took off! My entrepreneurial spirit dwindled due to not achieving my million pound goal by twenty.  I never understood why I couldn’t set up a successful business that was scalable. That was until I had my “Aha!” moment in my second Setting Up A Business tutorial!

The “aha!” Moment

I realised I wasn’t alone. There are some fantastic resources available to students and young entrepreneurs such as Networking Classes, External Business Guidance, Business Mentors, Learning Schemes, Business Competitions, Angels, Seminars and Training Programmes that I didn’t know about before. All these years I had put too much pressure to develop a successful business on my own without external help. I was a “One man Wolf Pack” fighting to succeed in the Darwinian world of business.

The Fantastic 5

With the help of in-class networking and our individual presentations, the true fantastic 5 has been formed. The group and I are excited to have a mentor outside our circle of friends and circle of direct influence, who can push us towards success.

The video below explains the importance of having a business mentor.

Peter Johnston – The Importance of Business Mentors

Tools For The Future

I will take away the importance of networking from my first two lectures. Meeting new people by stepping out of my comfort zone will allow me to gain invaluable human resources that I can utilise after graduation. The people I meet in this module and during university will help shape my future.  I will also take full advantage of existing support packages that will push me closer to success, such as business mentors and competitions.

Now I have my entrepreneurial Mojo back and a fantastic support network behind me. I have decided to push back my goal of earning a Million Pounds by 5 years. A 25 year old millionaire is better then not being a millionaire at all!

Sharpening The Spear

Below I have added some useful links on why networking is important for business.

NYSE President: I owe every job I’ve ever had to networking

Business Insider – The Importance Of Networking

Business Communication Duplicate model

http://thejmbpartnership.com/networking-outside-the-virtual-world/