Dr David Bozward

Category: Inclusive Entrepreneurship

There is a growing emphasis on diversity and inclusion in entrepreneurship programs, aiming to provide opportunities for underrepresented groups such as women, minorities, and individuals with disabilities to foster a more diverse and equitable startup ecosystem.

  • Be faster at creating change than any other business!

    In the news today Nokia and Mircosoft are teaming up. This is good news for both of these companies as they may now each do 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!

    I can remember using my first mobile phone, it was a Motorola 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.

    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 the 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(loans). 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%, applications, 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.

    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.

  • Maximising the value of your mentor

    With over 40,000 mentors in the UK, we certainly have a great resource for entrepreneurs. However, as with many things in life, it’s about the process of using the resource rather than the sheer numbers which ensures the benefit.

    After managing a national mentoring solution for over two years, with over 400 mentors, 4200 mentees the key factors are developing an environment of trust, openness and diversity on one hand and on the other accountability, skill development and action orientation on the other.

    The first step is to set the limits, boundaries and scope for the mentor/mentee relationship. In many cases this will be their first mentoring experience and as such they both need to know what each person should and should not expect. This then allows them to reduce the amount of storming before the norming and hopefully bring about productive business growth. This involves providing an education seminar followed by a selection workshop which creates enthusiasm and drive for the new relationship.

    Every relationship has a start, beginning and end and understanding this is also very important in ensuring everyone gets the most form it. The best business mentoring matches the mentee’s stage of business, the industry sector and the location of the user. Having more than one mentor is also important for younger mentees as it ensure they do not rely on one person and seeks advice from many quarters, thus forming their own opinion.

    All organisations needs to know what is happening with their customer at any one time and therefore statistical collection is important for both reporting and improving the service. This is why online mentoring solutions are important in being able to manage, monitor and report the status of the network. I have also seen that our mentee target audience has become accustomed to adding their life onto the internet and getting feedback, where else would they do it?

    Mentors help create such amazing companies and get a lot out of the experience and this is the main reason many organisation are now considering adding their employees to these schemes, helping develop their staff to understand both other business leaders but also understand how business itself works.  Therefore a structured approach for your mentors is benefiting in many ways.

    If you do not have a mentor then please go and find one.

    If your business does not conduct mentoring for all staff then please implement it and it will create an amazing amount of value and loyalty.

    If you want to give something back then join a mentoring scheme and enjoy all the new entrepreneurs you meet.