Entrepreneur Bootcamp - What everyone needs to know to be an Entrepreneur!

Key learning from my First Bootcamp

This course was funded by AIB and was a real blessing to us budding entrepreneurs and start-ups. Our entrepreneurial spirit was definitely fuelled by this in-depth Bootcamp which covered marketing, ideation, and risk. Big thanks to Noel, Muireann, and Phil from the Entrepreneurs Academy. 

Breaking the ice..

The day began with an introductory and we were split into three groups, and we met with three facilitators throughout the day. From the get-go, the pace was fast, exciting, engaging and entertaining. And that's what I particularly loved about the course leaders- their humour and anecdotal tales. Here's some take-home points to help you in your business. 

A day of three succinct parts

Part 1 with Muireann

With her main focus on the marketing of the business, she emphasised the three currencies of getting the customer which were; spending time, money and the customer experience offered. Part of this is really exciting and delighting your customer. Some thoughtful way of adding value can really go the extra mile such as a small token, a card, or to extra small service can really delight customers.  What complimentary service or product can you provide to add 'WOW'?

Part 1: Marketing with Muireann

Marketing Monopoly: How would you allocated €2500, in 5 units of time

Think outside the box!

Three currencies to get your customer- time, money, customer experience

Positive vibes throughout the course! How can we not be encouraged? 

Quick break for a complimentary photo... I'm not convinced it looks like me in the photo, but it is! Anything that is free, I urge all entrepreneurs to grab with both hands. There was a professional photographer on hand to take business photos throughout the day. Wonderful!

    

Part 2 with Phil

We looked at what makes an idea great by simplifying it. An idea must be looked at from all angles, as perception is different from person to person. 

What is important is recency and relevance

People learn differently. Some are visual, auditory, kinesthetic, or read/write. Also, we need to understand that different people have different characteristics, especially when presented with a situation. Pragmatists, activist, reflectors, and theorists all look at things differently and react accordingly to their mindset. We need to bear this in mind when presenting a new product or service to the market.

A balance needs to be found between ideas and opportunity. Ask yourself..

'Is there an opportunity that serves the idea?'

My team and I listed our service and product differentiators. These were key components that make a product great. 

Other important points were:
1. Always being aware of scalability and selling self. We need to assure that we ourselves are fit for purpose at all times.
2. Know your numbers - Being cost-effective means that money saved, is money earned. It is imperative to know our numbers and to know our supply chain, value chain, margins and markup to apply this. If we don't know our numbers, we don't how to save and where. Simple!
3. How we penetrate the market is essential to our business model and growth. Have a plan- always. Ask yourself if your offering is value-focused or price sensitive and price accordingly in terms of features, advantages, and benefits. A Toyota does not offer the same as a Ferrari, but both are drivable. Think Penny's versus Brown Thomas!
3. 3R's of Aftercare : Repeat/ Referral/ Retention

Part 2 with Phil

Part 3 with Noel   
'Sometimes you fail, sometimes you learn - not lose'

Business is a journey and the business model changes with which you must adapt. A business is often born from a passion of the business owner, and it is often family and friends that have fears for you. Do not let fear put you off! Take the risk, especially if it feels right.

Noel repeated the finances aspect again. Knowing numbers were and are, seen as an integral part of a business success. To increase margin, the price needs to be increased or cost lowered or both.

Yes - but what is the other 50% ?? KNOW THE RISK

Take a chance!

With 850,000 spent per hour, 24 hours a day by the Irish Consumer online, we need to embrace the massive opportunity online that exists. 

Finally, they left us with a powerful phrase

'Strength comes from overcoming things you thought you could not do'. 

Get in touch with any marketing queries you may have. 

Let's elevate your business to the next level.

Contact me on 051 391350.

Dream Big 

My Toastmasters Debut 17th November 2017

Last night, I presented my very first Toastmasters speech to the DLS Communicators Group in Waterford. The first speech a new member delivers is known as an 'Ice-Breaker'. So-called as you literally break the public speaking ice! My speech was named 'Dream Big' and I delivered a synopsis of my life in three parts covering my dream, during the dream, and dream maintenance. The dream theme was summarised at the end. 

In my speech, I recalled my dreams as a young girl. My daydreams and night dreams were very much the same. I always wanted to be my own boss. I dreamt of walking down a work corridor with authority and purpose. I saw myself greeting all my employees and smiling at them. It was a busy, happy work environment that I loved being part of and leading. 

My dreams

I recall my dreams as a young girl. My daydreams and night dreams were very much the same. I always wanted to be my own boss. I dreamt of walking down a work corridor with authority and purpose. I saw myself greeting all my employees and smiling at them. It was a busy, happy work environment that I loved being part of and leading.  My parents have their own business, so this ambition possibly stemmed from them.

At school, I was always artistic and a dreamer. I never knew what I wanted to be when I grew up. As time went on, I also became aware of my love for business organisation. For my Transition Year work experience interview, I recall dressing in my mother’s red skirt suit, white blouse and stiletto heels. When I arrived at the school, the teachers gasped at what I was wearing. I tried not to take any notice either, when I met all my school friends dressed in plain, black trousers and blouses. Very neutral, whilst I stuck out like a sore thumb in this rouge ensemble! When the teachers asked what job I was being interviewed for, I confidently replied ‘Managing Director’. They informed me it was not a role that one is interviewed for, so I settled for a senior manager/director role instead.  Following the interview, I exited the building leaving as red as the suit I wore!

This all eventually led to studying Business Studies in WIT, where I achieved my degree in Economics and Finance. However, the lack of creativity within my subsequent financial roles, pushed my dream aside and left me longing. Did I want to fulfil a career in finance? I didn’t think so. And that got me thinking...

The Dream Started…

When the recession began to take its toll, I went off traveling to South America and Australia. It was then I looked within and questioned my career choices. I returned to WIT to pursue a Masters of Business Studies in Marketing. Returning to study was something I never imagined doing again. Particularly as I knew it involved many class presentations. However, it was a worthwhile experience. It turned out that it was quite a successful time for me and I achieved a first-class honour. A step taken towards realising my dream.

I set up my business Efitz Marketing this year with a great vision. A vision of making it big. A large corporate operation and me being the boss. I can still picture the tall buildings, my heels clicking on the pavement as I make my way to the office, meeting clients and reviewing my employees work. Being the boss. 

However, what I have learned was that dreams need maintenance. 

Dreams need goals and I needed steps to achieve my goals. A step I took was that I began writing my goals down since January 2017. Denzel Washington famously said that, “Dreams without goals, are just dreams and they ultimately fuel disappointment”. I can happily say that I have since crossed off a few to date this year and that they fuelled my drive further.

Continual learning and self-improvement were other areas I needed to focus on. I am an introvert person who has had a fear of public speaking. This is a necessary skill required in my line of work which has been holding me back far too long. So here I am today, conquering that fear. Taking the steps. To living the dream.

I’m certain many more steps will be needed to be taken, goals will change and develop. But my dream remains constant.

Just after receiving my Ice Breaker Award

To Conclude

I concluded my speech about my dream, and then broke the dream into stages of before, during and dream maintenance. I found that the dream I dreamt is only the tip of the iceberg, and completely underestimated the work is that required to realise it. For Eleanor Roosevelt stated, 

         “The future belongs to those who believe in the beauty of their dreams”.

For I will dream big, and wear whatever colour suit I want.

Get in touch with any marketing queries you may have. 

Let's elevate your business to the next level.

Contact me on 051 391350.