Dr David Bozward

Category: Blog

  • Entrepreneur E-Learning

    Over the last two weeks I have been developing a new online service for Entrepreneurs, an eLearning site providing courses in Sales, Marketing and how to start a Business. Further course are planned in the Autumn 2011.

    Entrepreneurs are amazing people, yet have certain traits that make them hard to work with. First of all they are time limited, by the very nature of starting a business and also very geographically diverse. Secondly, they tend to have very little money and I feel wrong in taking too much money from people who should be investing in their businesses. Thirdly, they tend to learn in different ways.

    So we have designed these courses to fit their entrepreneurial needs…

    The design of the courses ensures the pace of the course is dictated by the entrepreneur. The can take as long as they desire and also review, redevelop and re-understand the course element in the context of their business.

    The core cost of running course is training, venues and organizing everyone and everything to be at the right location at the right time. ELearning allows us to have the course starting any time and always open. The entrepreneur also does not have to travel and therefore has more time to spend on their business.

    One aspect we do lose with online course is the loss of the real face-to-face networking which is so important when learning, knowing there are others who have the same problems. This we will fix using LinkedIn.

    One important lesson which the internet is very aware of, if content is free it has no value. Everything known to mankind is available on the internet, however it’s the application of knowledge is where value lies. As an entrepreneurs we understand this. The courses develop knowledge through the application of this knowledge, in an entrepreneurial way.

    For many years I have know that there are three type of learning styles (Fleming’s VAK/VARK) model:

    1. Visual
    2. Auditory
    3. Kinesthetic or Tactile

    Kinaesthetic learning is a learning style in which learning takes place by the entrepreneur actually carrying out a physical activity. This means we have incorporated an element of developing their business in every course.

    These courses are now in beta release and having our first set of beta-entrepreneurs from UK Universities through and if you would like to join then please email me.

  • Apprentice: G is for Growth

    In the last week I have read about three European G-countries, Germany, Greece and Great Britain and thought how would they do f they were teams on the Apprentice. These are three very different countries within the European Union having three very different experiences with the current economic opportunities. So lets have a bit of fun during this blog, and it’s just that.

    So picture this: The third teams are lined up and told they have taken over a small business and this business needs to start growing by increasing their sales and revenue. The target is €7bn.

    The teams then go off, brain storm, SWOT analysis and then run around phoning each other,..etc etc until they have to pitch.

    The first to pitch to the customer is Great Britain, they first take the client sight seeing and act out some poetry by one of the worlds most famous authors. They show the customer around the birthplace of the author and create one of the best relationships with the client. Then it pitch time with the Project Manger takes centre stage, who then went on to tell the client how to do business, about business ethics and what is wrong with the client’s shop. The client provided €1.6bn in sales. These sales are good, but will not help the project manager develop the growth required in the business in the short term.

    The second to pitch along the European high street is Germany and again did a little sight seeing but lower key. The pitch from the project manager is very powerful and business like, this time after some exchange of ideas and a common approach to long term development did €10.3bn in sales. This has placed this team on one of the best growth paths of any business and a sure winner. You would expect no one in this team to be going home this week.

    The third country Greece is currently closed for business did not receive the customer. The project manager had a team meeting to agree to receive €270bn in investment without providing any equity. They also reduced the wages of everyone in the team, agreed to sell some assets and decided to make the other teams pay part of their earnings to them over the next 30 years. The customer is current looking at this team as an equity investment opportunity, when the team is ready to do business.

    Then we move back into the boardroom to receive the feedback from the customer. Germany will be a long-term partner, customer and investment opportunity. Greece has developed an innovated yet unorthodox approach to business, however the customer believes there are long term opportunities. Then we come to Great Britain, the customer did not like their approach to business and thus the low sales, the pitch was heavy handed and the customer did not see a long term business future. Someone in this team will be out this week, the Project Manager has to decide who will be coming in with them to answer why this task went wrong.

    In the words of Lord Alan “And then one of you will be going home.”

  • What makes a good entrepreneur? – Advantage

    I often have to look at new businesses and see if it is ready to move to the next step, sometimes this is investment, sometimes it is getting the first customer and other times it may be ready to have a mentor. For each of these the critical element is “Is the entrepreneur making the most of their advantage?”

    This advantage is diverse but it is important that as an entrepreneur you look inside and see what are your strengths and how can you maximise these in the world we live in. These strengths can always be developed with new skills and abilities. The next evaluation is the team you have in you business and what are their strengths. Then you should start looking at the business, its brand, its products, its location and the processes that you have developed. This provides a very powerful advantage that your business can project into the market to develop loyalty, awareness and revenue. This advantage is very important to understand and evaluate to ensure they are real.

    This internal search for the core assets of your business, is the most important aspect of creating a deliverable vision based on your strengths, and not on your competitors. Many entrepreneurs see the world in a different way and therefore create new products, services and experiences which no other person have ever thought of. This need to generate a new solution drives their creativity to develop a new alternative future for man kind, they have vision.

    If you want to see examples of this, then watch “Drangon’s Den” where the investors will only invest in businesses they understand how they can add value, how they can use their advantage to their strength. It’s not about the money, it all about their core strengths when choosing to invest. If we take a look at “The Apprentice” we see the challenges playing to the hosts advantage, when they were developing their business they had core advantage, like selling on products for a profile. Successful people understand their strengths and how much they are worth and how they can get the most out of what they have. So ask yourself this important question.

    We don’t have all the resources in the work when we are developing our business and therefore resourcing is always an issue. However once you know what you are good at, the rest by definition must require some extra resources. This is always a major issue for young and inexperienced entrepreneurs as managing other people is normally out side their mind or skill set. Handling diverse people within a business is an issue as creative people are motivate in a different way to sales people. The one advantage you will always have is you are an entrepreneur who started the business, you have the drive, vision and strength to lead those in your business. This is your advantage, use it.

  • Sometimes Entrepreneurs have to look back to move forward

    Over the last two years I have been very fortunate to engage with some of the most amazing people who are on an adventure, to boldly go into business…. taking their first entrepreneurial steps… starting their personal business brand.

    These mostly young people are the future and their local community welcomes them which is very satisfying in this time of virtual worlds, social networking and globalisation. They are generate interest wherever they go.

    The first thing I must emphasise is the diversity of ideas, the amazing breath of business diversity which people have. I know its obvious but it not every day you can sit with a forest management company, a tailor and a technology business. So I thought I would share just a few:

    Forest Direct, a family run businesses that manage forests, developing relationships with real people, their land, the trees that live on them. Each part of this tri-relationship takes many years to foster as traditions and the cycle of the seasons is well established. New methods and technology provides opportunities, which has helped, www.Forestdirect.webs.com

    Crowd source learning from dabbler, that aims to break down the barriers between those who have knowledge and those that need it, ensuring we can learn from the most inspirational person. The internet ensures a level playing field: education and our personal development in one site. www.dabblerr.com

    Squid London, a dynamic and technology advanced design company which distributes via the world’s museums. Emma-Jayne Parkes and Viviane Jaeger the two co-founders are true inspiration in the development of a fashion label.  www.squidlondon.com

    SaferMinicabs which is in the early stages of launch has looked at the problems of safely booking a mini cab and how this entire process can be safer using modern mobile phones, GPS and the internet.  www.saferminicabs.com

    Suits that fits has developed an amazing innovative business model which ensure more people get a share and creates social good through tailoring. The innovation within their business model, processes and quality is truly amazing.  www.asuitthatfits.com

    Graduate Junction started out around two years ago serving the post graduate community and quick built a very loyal and active following.  This year they launched Linkhigher, www.linkhigher.com which is meeting the demands of both the post-graduate and the employer, who want highly knowledgeable people, as shore winner.

    I have also worked with many universities and see great sparks of enlighten entrepreneurship. These come from staff, students, student societies and the local community. Again I wanted to share some great examples:

    Some of the course work done in universities is amazing and one of the best examples is from Brunel University, who create “250 Innovative Ideas: made in Brunel” each year. This beautiful book, which provides a snapshot of the work done in the student’s final year projects of engineering, design and multimedia students.  This demonstrates the true ability of our graduates and how Britain still leads the world in good design. http://madeinbrunel.com

    My First Million which was developed at Hertford University is one of my favourite learning tools for young people. The student watches video from the Dragon’s Den and other TV shows, once they have seen this, they decide if they want to invest. Then they see if the Dragon’s did and if a computer sim would. This creates a great learning experience and also starts to make us all aware of the learning potential of TV. http://www.myfirstmillion.tv

    Some projects at Universities are about the community and the understanding we all have. The University of Plymouth created a book called “We Love Looe” which is a great children’s book which engaged and informed about the local surroundings. http://www.amazon.co.uk/Love-Looe-You-Will-Too/dp/1841022500

    I have also looked for a less complex model of what makes an Entrepreneur, something which can be easily presented, understood and allow the student to start on their journey. This was found at the University of Huddersfield, developed by, John Thompson and Bill Bolton. The Focus, Advantage, Creativity, Ego, Team and Social aspects of the entrepreneur or the FACETS model.  http://www.efacets.co.uk

    I would like to thank you all for the inspiration and encourage you to keep the flame truly ignited in your entrepreneurial brand. In developing my next venture, I will take these learning’s with me.


  • The changing world provides us business opportunities

    In the news recently Nokia and Mircosoft are teaming up. This is good news for both of these companies as they may now focus on what they both do best. One will make hardware which receives radio signals, which a person can use to communicate. The other will make an operating system which everyone can use. Surely a great day for the consumer, even though they have some development to do before we get our hands on the goods!

    I can remember using my first mobile phone, it was a Motorola (1981) and you needed a motor vehicle to transport it. It was a carphone, you could even buy it in a special warehouse. Motorola really did dominate the first generation of mobile phones and no one, not even they expected ever to fail.

    Then we moved to the second generation (GSM) and the Illinois based company just could not believe what was happening, even when their European executives told them. As with a lot of businesses they did not innovate fast enough, they did not see where the market was going and they just lost touch with their potential customers. They expected business as usual.

    Nokia took over billion dollar market, they had better phones in terms of functionality and also in terms of diversity of style. The mobile phone became a consumer item, sold in supermarkets and everyone had a cupboard full of them at home.

    Then we did the 3G thing, which cost a lot of money (in terms of licence bids and infrastructure). Whenever this happens companies become risk adverse and they try and control the business models, partners and also the consumer. The greedy operators were taxing everyone 50%, application, SMS and event the payment solution. The cosy manufacturer-operator-regulator friendship was working. Yes, the regulators all want to keep the status as it keeps them in a job too. So somthing had to change…

    Then Apple and Google, who are always looking at markets in a fresh way, thought this has to stop. The internet has largely been free from regulations, so devised a plan to attack.  Providing us, the consumer with better handsets, services and business models.

    As a business owner-entrepreneur you must understand that everything everyday changes. You have to both believe in the change and want the change. Be the master of change and feed from it. Just because you are doing well today, providing a great product, there is out there, somewhere in cyber space, someone looking at your business wanting part of the action.

    Be faster at creating change than any other business!

  • What is your motive for starting a business?

    I recently asked 256 entrepreneurs what their motive was for starting their businesses and found the greatest motive was independence with 31%. In second was money with 25%. These are very powerful drivers which can motivate someone to for many years, delivering results and further ambition. The motive for starting a business is so important in getting the business to launch and grow. So having a powerful motive can be as relevant today, tomorrow and for a long time into the future is important, as being an entrepreneur is all consuming, so much of the time.

    Independence with 31% was the most popular choice. This motive is a fundamentally driver which we see in so many entrepreneurs. When it comes out in their personality, its arrogance, ego, self esteem and an amazing believe in their products. However, wanting to be independent of others, and make one owns way is so important to us as human being that it is not surprising it’s the main reason to starting a business.

    Money came in second with 25% of the vote. Having a great number of celebrity entrepreneurs in the press we are seeing more young people see that this route is the one to both fame and riches. Yet very hard work is needed to achieve a successful business, even more work to keep it going and even more again to become amazing rich. So many of our glamorously famous entrepreneurs forget to mention years of hard and long hours which created their work ethos. Hard work will never be glamorous or fashionable but without it money will never be teaming up with you.

    Create Opportunities with 17% of the vote came in third. These people are innovators and business minded individual who have seen opportunities in the market which they can fulfill. This is a growing trend as social enterprise and philanthropy grows especially in time of hard unemployment and low economic growth. I would expect this to be second within a few years, based on the young people I meet who are starting businesses.

    Want to Make a Difference achieved 14% of the vote can be split into two areas: Make a social difference or making a difference to one’s own life.

    A New Challenge came fifth with 13%. All entrepreneurs are looking for a new challenge and this group could not relate to the other four. Every entrepreneur faces a new challenge every day and building that into your personality is core to becoming a successful entrepreneur.

    Starting out as an entrepreneur is deciding to take a path no one else has taken, each path is an individuals and therefore these motives are so important in maintaining this path and understanding your own reasons for continuing.  The strength to continue while everything is going wrong sets you aside from those who give up and from that day always keep looking back and wondering “What if?”  As a human being you may have only one life but as an entrepreneur you have a life time of opportunities to make your own success, whatever your motives.


  • Choosing an entrepreneurial university

    Even if you don’t what to start a business after university, you should think about leaving university with some amazing enterprise skills and experience which you can use in business, your own or someone else’s.

    The development of these skills is important in building knowledge and experience which business can use, want to use and can use. Enterprise skills are employable skills which businesses want.

    When selecting a university you need to think about what is and is not available in term of enterprise development, So what is best practice within the sector?

    The first items to investigate are student societies. So look for an enterprise society, which is a student lead organization which allows like minded students to develop ideas, network and build business relationships while in a university environment. The second society is called, SIFE, Students In Free Enterprise which allows student with social responsibility to developer both their entrepreneurial skills while helping others.

    Does the university offer an additional enterprise extra- curricular module for all students and does this create additional credits towards your degree. Employers like enterprising people and this is a great way of ensuring it enters your CV.

    Then take a good look at the careers, enterprise and innovation departments will run skills development workshops which are outside the students course. These skills should include networking, ideas creation, sales, marketing, business and financial planning.

    The entrepreneur in residence is the centre of the university enterprise culture, they have done it, started a business and don’t just speak about it. They have real experience which can be used as a sounding board which young students can use to explore, develop their ideas and find mentors which can help take the idea forward.

    There should be a place where students can just walk-in and talk about their ideas about business and have an informal chat. Is this accessible and do any of the staff know anything about business, enterprise and development of skills.

    Once the student has an idea, they are a number of options which should be made available to the student. The first point which most students needs is some funds, so the university making micro loans available can help move the idea forward. So ask what financial support is available?

    Once you have an idea, an incubator can provide a space where you can get a desk, network with others and get a lot of business start-up support in the early stages. Its important to have a support network, which you can use to develop the skills and network.

    The majority of universities will provide business start-up bootcamps which allow students over three days to develop their idea and plan the progress they need to build an idea into a start-up and then onto a growing business.

    Not everyone will want to start a business, but the skills are very important, especially when working in small business, which accounts for 97% of UK businesses.

    While at university having an internship with entrepreneur or a small business will help. Some universities offer this intern year spent developing the students’ own businesses.

    To conclude, a university which allows you to gain real experience in which you can learn by doing and network with like minded people should be your choice. This will set you up for life and is worth every pound you will have to spend.


  • Ideas Evaluation for Entrepreneurs

    One of the best skills to have as an entrepreneur is being able to evaluate ideas. Ideas are cheap and don’t actually create any value, it’s the person that acts on an idea who starts to create value. I often meet people who want to protect their idea more than act on them. However, acting on any idea doesn’t provide a great recipe for success. You have to act on the good ones which you have the skills to make into a successful enterprise.

    The first principle is to write your ideas down, keeping a chronological log of your ideas. This allows you to reflect on them, review them and refine them into something you can start to see true value. Idea’s have their time and place. So today, you may not have the time, money or ability to act on your idea, however in time things change and you may be well placed to make this idea a reality.

    The ability to evaluate your ideas is split into personal skills, knowledge and aptitude on the one hand and logical, systematic evaluation on the other.

    Your personal skills are constantly changing and developing, this allows you to develop as an entrepreneur and gain new valuable skills. Practical hands-on skills are one of the most value assets an entrepreneur has. The second most valuable skills are those of their team, the entrepreneurs team are core to their success and more importantly possible failure.

    Knowledge for an entrepreneur is normally based around an industry sector and this asset is the foundation to building successful businesses. Without it you have a very loose idea of what is going on around you, you have no ability to influence or act on daily news stories or gossip. All successful entrepreneurs spend a great amount of time developing this knowledge to a point whereby they can plan for guaranteed success within their sector.

    Many entrepreneurs stay within an industry. Many only look at businesses with a certain business model. Many take businesses they can run within a certain region. Everyone have a certain aptitude for business and only these business ideas will start to spark within the entrepreneur.

    At this stage in an idea evaluation you have a series of soft skills, hard knowledge and a gut feeling. These three determine if the entrepreneur can add, see and benefit from the value of the idea.

    The next is putting some form of logical plan around it which can executed to deliver on some form of business plan. The ability to look at an idea and develop a quick business plan and gut feeling on the returns allows the entrepreneur to see the merits of the idea. Who is the customer, how much are they willing to pay, what are the costs, liabilities and issues in delivery. How many staff, where and what type of people. What type of management team would be required. How much investment, money, time and skills will be required from me?


  • Developing Enterprise Skills at University

    University allows a student to start one or more of three entrepreneurial paths; Intrapreneur, LifeStyle Entrepreneur and High Growth Entrepreneur.
    The vast majority of you will follow the intrapreneur route, a path leading to a job and career within a chosen subject. While in this career you may become a manager and take on an entrepreneurial role within your organisation. If this is you, your time at university should prepare the student for this. You will need to develop your people and team working skills, general business and industry knowledge while taking your course.
    For those with who require further study, a MBA provides the ideal opportunity to learn and develop management and business thinking.
    Some of you will develop a life-style business built around your course subject or hobby which has developed through university. These people develop into the role of an entrepreneur, building friendships and confidence with time. They are not looking for fast growth, but the enjoyment of being master of their destiny or being emerged in their chosen business. The important skills to learn for this role are networking, time management and self esteem.
    Some of you will have a high growth or high technology idea which can be developed through incubation, Science Park and this is the business which universities and business support agencies like, understand and what to work with. The important skills to learn for this role are financial management, managing people and powerful presenting.
    The humble student society provides the opportunity for most students to run an enterprise which is focused on a particular sport or activity. These are great places to learn by doing and develop an understanding of how to behave in a business like environment. They have all the aspect of a small business, the focus, the polities, bureaucracy and of course customers who require service.
    All employers want their prospective employees to have some work experience. This can be found at local businesses, student union or volunteering. The development of your professional business approach is something you should master before you start your career and should be in place when requesting interviews. Developing it after is too late.
    Enterprise Activities and competitions is one way of gaining experience and being able to add it to your cv. Enter the business plan, Flux, Apprentice and Business Idol competitions which provide you with the opportunities to develop entrepreneurially.
    Every student should demand the ability to learn in an environment which is safe, secure and provides the ability to reflect on the learning. This learning enables us to move forward with our understand and hopefully building on entrepreneurial success.
    Finally my message is to learn by doing by putting yourself in situations whereby you have the opportunity to develop skills and have a few failures which will not be counted against you.

  • London Metropolitan University – Business Society Talk

    Great video from my session at London Metropolitan University – Business Society talking about the motivations for starting a business while still at university.