inspirationPosted: November 26, 2014
In one of the days Lee Sharma from Simply Do came in to talk to us about his experience and the journey of his business, also what is needed to be bringing ideas to life. What i got out of the talk he presented is that you need to be confidant and not be afraid to fail. Also off course to have an idea and most definite is to do the research and develop the idea to be able to sustain the business. The key factors for me was that if you planing to get into the business no matter what it is, you need to know absolutely everything about it. All ins and outs, specially the competition and the key aspects of what competitors do to be successful the way they are. Also i learned that it is okay to copy the successful key aspects of the competitors if they are doing well. I don’t mean products or copy writing, I mean they way attract clients, to you apply the technique they use to get customer base for yourself.
Creating a successful business takes great planing and research and even then there’s a 50/50 chance on it succeeding. However the key point of business being successful which i gathered from the lecture of Lee Sharma is
The idea of the business and the shopping list what would you need to get started.
Realizing your own skills to help you get started, what are you really good at and enjoy doing. Creating a business on your own skills/practice makes the whole business idea easier.
Also being realistic and thinking what people/customers would pay money for, what can you offer that is not already out there something unique.
Considering what is wanted
must have within the business
-Testing your ideas
Best not to rely on the first idea that pops in your head. Taking Luxe as an example, we decided to do truffles which we going to develop to perfection and to our standard we believe in. Testing out the product till we get it right.
Know your idea, ins and outs, have a good structure of business and plan, know everything about the sector you are going into, finance – count everything in and have a goal of the profit. Main sections to consider and the best place is to start for a first business ownership would be:
-Product and Service
Look into competitors, understand what works well and what doesn’t, misery shop around understand the competition.
Have an aim and be confidant to reach it. Work toward it.
How you are going to do it, step by step plan.
Legal stuff, what are you as a company and weather everything is in order.
-Inflow and Outflow
All around the business at all times.
The talk from Lee Sharma was really useful, gave me a glimpse of the business reality how its really is.
We also had a talk from Josh and Zoe Angel from M.A.D.E Cardiff which stands for Makers/Artist/Designers/Enterprise
This was a completely opposite way of creating business and i don’t mean just because its a different business over all, i think its the way they went about to create it. The way i see it they perhaps jumped into the business sector a bit too quick without considering ins and out first. However it seems like it is finally working out for them no matter how tired or how many difficulties they face up to. The business they created is based on their needs and what they want which this time worked out quite well as what they wanted wasn’t around in Cardiff. Although from my point of view basing a business on your own need not always going to work out as it did for M.A.D.E
The inspiration i have got from them is not to be afraid and follow your dream.