Dr David Bozward

Category: Resources

Entrepreneur resources from David Bozward

  • Brewing Success: Business Idea, Model Development, and MVP Testing in a Coffee Shop Venture

    Brewing Success: Business Idea, Model Development, and MVP Testing in a Coffee Shop Venture

    The process of starting a business is intricate, involving various stages from conceiving an idea to launching a viable product in the market. This blog post outlines this critical process of ideation, business model development, and market testing, using the example of setting up a coffee shop.

    Stage 1: Conceiving a Business Idea

    Every business journey begins with an idea, the seed that has the potential to grow into a fully-fledged, successful venture. Often, the most successful business ideas emerge from identifying a problem and then creating a solution for it.

    Let’s consider the idea of setting up a coffee shop. The idea could have been sparked by a lack of quality coffee places in your area, your passion for coffee, or the desire to create a cozy place for people to meet.

    When ideating, it is essential to consider market trends, personal interest, and industry knowledge. Research might involve reviewing industry reports, talking to local coffee drinkers, or analyzing the competition. A good coffee shop idea should offer something distinctive, whether it’s the finest quality beans, exceptional customer service, or a unique ambiance.

    Feasibility is another crucial factor. You should ask: Can I realistically open this coffee shop with my current resources and skills? Is there a sufficient customer base in my area?

    Stage 2: Developing a Business Model

    Once you have your coffee shop idea, the next step is to develop a business model around it. This model provides a blueprint for how your business will create, deliver, and capture value.

    A tool like the Business Model Canvas is helpful to map out key components of your model. The value proposition of your coffee shop could be freshly roasted, organic coffee beans sourced directly from farmers, thus offering exceptional taste and promoting fair trade.

    Identify your target customers (for example, local residents, office workers, students), and plan how you will reach these customers, such as through social media marketing, local advertising, or word-of-mouth.

    Your cost structure might include expenses like rent, utilities, salaries, and cost of goods sold (like coffee beans, milk, and pastries). Revenue streams will primarily come from selling coffee and other items, but you could also consider other income sources such as selling merchandise or hosting events.

    Stage 3: Testing the Market using a Minimum Viable Product (MVP)

    After you’ve established your business model, it’s time to test your idea in the market. In the context of a coffee shop, an MVP could be a pop-up stand or a small kiosk in a high foot-traffic area where you can start selling your coffee and get initial customer feedback.

    This MVP stage allows you to validate your coffee shop idea before investing significant resources into full-scale shop development. It provides an opportunity to test your product on real customers, gather feedback, and refine the product accordingly.

    During the MVP testing phase, your key metrics could be daily sales, customer reviews, and repeat customer rate. This feedback loop should continue until you reach a point where you’re confident your full-scale coffee shop will be well-received by a wider audience.

    Conclusion

    Coming up with a business idea, developing a business model, and testing the market using an MVP are integral stages in any successful business journey, even for a coffee shop. While the process can seem daunting, each step provides an invaluable learning experience, equipping you with insights and confidence to launch a product that resonates with the market, ultimately paving the way for a successful and sustainable business.

    here’s a list of resources that can help you with these tasks, ranging from idea generation and business model development to MVP testing:

    Business Idea Generation

    1. Google Trends: Use Google Trends to identify trending topics and potential business opportunities.
    2. Entrepreneur: Offers a guide on how to come up with a business idea.

    Developing a Business Model

    3. Business Model Canvas: This tool can help you visualise your business model and understand how each component interacts with the others.

    1. Entrepreneur: A guide to creating a solid business model.

    Market Research

    5. Pew Research Center: Pew provides a variety of research and data on various sectors that can help with market research.

    1. U.S. Small Business Administration: Offers resources for market research and competitive analysis.

    Minimum Viable Product (MVP) Development

    7. Lean Startup: Outlines the Lean Startup principles, which is a methodology that involves creating and testing MVPs.

    1. Product Hunt: A platform where you can launch your MVP and get feedback from a community of tech-savvy early adopters.

    Market Testing

    9. SurveyMonkey: Allows you to create surveys for market research and customer feedback.

    1. Google Analytics: Use Google Analytics to measure website traffic and understand user behaviour, which is especially helpful for businesses with an online component.

    These resources will provide you with a solid starting point on your journey to start a business, providing crucial insights and tools to help you succeed.

  • Cultivating a Green Revolution: Embracing Hemp Agriculture in the UK for an Environmentally Entrepreneurial Society

    Cultivating a Green Revolution: Embracing Hemp Agriculture in the UK for an Environmentally Entrepreneurial Society

    Introduction

    In recent years, there has been a growing global awareness of the need for sustainable and environmentally responsible practices in various industries. One area that holds immense potential for driving positive change is hemp agriculture. Hemp, a versatile and eco-friendly crop, offers a plethora of benefits for both the environment and the entrepreneurial landscape. In this blog, we will explore the reasons why the UK should embrace hemp agriculture to support a greater environmentally entrepreneurial society.

    1. The Ecological Benefits of Hemp Agriculture

    Hemp is a remarkably sustainable crop with a minimal environmental footprint. Its growth requires minimal water, and it can flourish in diverse soil types, reducing the strain on precious resources. Moreover, hemp cultivation does not necessitate the use of pesticides or herbicides due to its natural resistance to pests and weeds. As a result, hemp agriculture promotes healthier ecosystems, reduces soil degradation, and protects biodiversity. Supporting hemp cultivation in the UK can significantly contribute to the country’s efforts in achieving its environmental sustainability goals. (Reference: [1])

    2. Carbon Sequestration and Climate Change Mitigation

    Hemp has a unique ability to sequester carbon dioxide from the atmosphere at a rapid rate. During its growth, hemp absorbs substantial amounts of CO2, making it a powerful tool in combatting climate change. By integrating hemp agriculture into the UK’s farming practices, the country can enhance its carbon sequestration efforts and reduce greenhouse gas emissions. This not only contributes to global climate goals but also creates opportunities for carbon credit trading, benefiting environmentally conscious entrepreneurs. (Reference: [2])

    3. Diversified Economic Opportunities

    Embracing hemp agriculture paves the way for a diversified and sustainable economy. Hemp offers numerous applications, from textiles and building materials to biofuels and biodegradable plastics. These industries present immense entrepreneurial potential, encouraging innovation and the growth of eco-friendly businesses. By fostering a thriving hemp industry, the UK can create jobs, attract investments, and position itself as a leader in sustainable innovation. (Reference: [3])

    4. Circular Economy and Waste Reduction

    Hemp is a renewable resource that promotes the principles of a circular economy. All parts of the hemp plant can be utilized for various purposes, leaving minimal waste. Hemp-derived products, such as biodegradable packaging and compostable materials, can help reduce the mounting problem of single-use plastics and contribute to waste reduction. By supporting hemp agriculture, the UK can take significant strides towards a more resource-efficient and waste-free society. (Reference: [4])

    5. Strengthening Rural Communities

    The cultivation of hemp offers economic opportunities for rural communities. Hemp farming requires relatively low input costs and can be cultivated on smaller landholdings, making it accessible to a wider range of farmers. By encouraging the growth of hemp agriculture, the UK can revitalize rural economies, provide sustainable livelihoods, and bridge the urban-rural divide. (Reference: [5])

    6. Supporting Research and Innovation

    Investing in hemp agriculture fosters research and development in sustainable technologies and practices. Entrepreneurs and scientists can collaborate to explore novel uses of hemp and develop cutting-edge applications that benefit society and the environment. Government support for research initiatives can accelerate innovation and position the UK at the forefront of sustainable solutions. (Reference: [6])

    Conclusion

    Hemp agriculture holds immense promise for the UK, supporting the country’s transition towards an environmentally entrepreneurial society. By embracing the ecological benefits of hemp, the UK can drive positive change, combat climate change, and create economic opportunities for sustainable businesses. Through collaborative efforts between entrepreneurs, farmers, and policymakers, hemp agriculture can revolutionise industries, reduce environmental impact, and pave the way for a greener, more prosperous future.

    References:

    [1] “Hemp Agriculture: Sustainable Farming for a Greener Future,” World Wildlife Fund (WWF).

    [2] “The Carbon Sequestration Potential of Hemp,” National Hemp Association.

    [3] “The Versatility of Hemp and its Economic Potential,” United Nations Industrial Development Organization (UNIDO).

    [4] “Hemp as a Catalyst for the Circular Economy,” Ellen MacArthur Foundation.

    [5] “The Role of Hemp in Rural Development,” International Labour Organization (ILO).

    [6] “Supporting Research and Innovation in Hemp Agriculture,” European Industrial Hemp Association (EIHA).

  • Six reasons why Environmental Sustainability is The Core of a Startup’s Business Model

    Six reasons why Environmental Sustainability is The Core of a Startup’s Business Model

    Introduction

    In recent years, the concept of environmental sustainability has gained significant attention and importance across various sectors. As the global community faces pressing environmental challenges, integrating sustainability into business models has become imperative, especially for new startup businesses with a view to longevity. This blog explores the significance of environmental sustainability as the core foundation for a startup’s business model and discusses the benefits it offers to the business, the environment, and society as a whole.

    1. Meeting Consumer Expectations

    Today’s consumers are becoming increasingly aware of environmental issues and are actively seeking products and services that align with their values. By incorporating sustainability into their business models, startups can tap into this growing market segment and gain a competitive advantage. A business that prioritizes environmental sustainability can attract environmentally conscious consumers who are willing to support and promote eco-friendly initiatives. This not only helps the startup gain customer loyalty but also opens up opportunities for expanding their customer base.

    1. Cost Reduction and Efficiency

    Environmental sustainability and operational efficiency often go hand in hand. By implementing sustainable practices, startups can optimize their resource usage, reduce waste, and cut down on unnecessary expenses. For instance, adopting energy-efficient technologies, implementing recycling programs, and minimizing water consumption can lead to substantial cost savings in the long run. By being mindful of resource consumption and waste management, startups can create leaner and more efficient operations, ultimately improving their bottom line.

    1. Innovation and Competitive Advantage

    Integrating environmental sustainability into a startup’s business model fosters innovation and creativity. Startups that prioritize sustainability are more likely to explore alternative and eco-friendly solutions in their product development and operational processes. This drive for innovation can lead to the development of groundbreaking technologies, products, and services that offer unique value propositions. By staying ahead of the curve and embracing sustainable practices, startups can differentiate themselves from competitors and establish a strong market presence.

    1. Attracting and Retaining Talent

    Environmental sustainability is a value shared by many individuals, particularly the younger generation entering the workforce. Startup businesses that incorporate sustainability into their core values and business model are more likely to attract top talent. Talented and passionate individuals are increasingly seeking job opportunities that align with their personal values, including environmental responsibility. By creating a sustainable work environment and demonstrating a commitment to environmental stewardship, startups can attract skilled employees who are motivated to contribute to the company’s success.

    1. Building Long-Term Resilience

    Environmental sustainability is not only about short-term gains; it also provides long-term benefits by ensuring the resilience and viability of a startup business. By embracing sustainable practices, startups can reduce their exposure to environmental risks and regulatory uncertainties. As governments and international bodies tighten environmental regulations, businesses that fail to adapt may face penalties or reputational damage. On the other hand, startups that proactively integrate sustainability into their business models are better prepared to navigate changing regulations and capitalize on emerging opportunities.

    1. Strengthening Stakeholder Relationships

    Environmental sustainability is not just a matter of corporate social responsibility; it is also about building strong relationships with stakeholders. Startups that prioritize sustainability can engage with customers, suppliers, investors, and communities in a more meaningful way. By communicating their commitment to environmental sustainability, startups can foster trust, strengthen partnerships, and attract socially responsible investors. Moreover, by actively engaging with the local community and supporting environmental initiatives, startups can establish themselves as responsible corporate citizens.

    Conclusion

    Incorporating these six benefits of environmental sustainability as the core foundation of a startup’s business model is a strategic decision with far-reaching considerations. By aligning with consumer expectations, startups can attract a growing market segment and gain a competitive edge. The integration of sustainability leads to cost reduction, increased operational efficiency, and fosters innovation, setting startups apart from their competitors. Furthermore, a sustainability-focused approach helps attract top talent, build long-term resilience

  • 20 Business ideas and the resources needed from AI

    1. Online tutoring service: website, computer, internet connection, teaching experience
    2. Virtual event planning: computer, internet connection, event planning software, organizational skills
    3. Social media management: computer, internet connection, social media knowledge, creativity
    4. Home cleaning service: cleaning supplies, transportation, cleaning experience
    5. Personal chef service: cooking supplies, transportation, cooking experience
    6. Virtual bookkeeping service: computer, internet connection, accounting software, bookkeeping experience
    7. Graphic design service: computer, graphic design software, creativity
    8. Lawn care service: lawn equipment, transportation, lawn care experience
    9. Mobile car detailing service: car detailing supplies, transportation, detailing experience
    10. Pet grooming service: grooming supplies, transportation, pet grooming experience
    11. Bicycle rental service: bicycles, rental space, liability insurance
    12. Personal shopping service: transportation, fashion knowledge, communication skills
    13. Online clothing boutique: website, clothing inventory, shipping supplies
    14. Virtual fitness coaching: computer, internet connection, fitness knowledge, coaching experience
    15. Mobile car washing service: car washing supplies, transportation, washing experience
    16. Digital marketing agency: computer, internet connection, marketing knowledge, creativity
    17. Mobile app development: computer, software development knowledge, creativity
    18. Travel planning service: travel knowledge, communication skills, organizational skills
    19. Home renovation service: construction tools and equipment, transportation, construction experience
    20. Virtual interior design service: computer, internet connection, interior design software, creativity
  • The process of discovering an idea and making it an opportunity

    The process of discovering an idea and making it an opportunity

    I have had many business ideas over the years and the vast majority of them I have not acted upon, for various reasons. Sometimes it’s time, money or the fact I don’t have the core skills or resources to make this work. In this blog we are exploring this cognitive process which everyone undertakes to investigate the opportunity. The aim is to support you in using this best practice when discovering a business opportunity.

    The process of discovering a business idea is a varied and complex one and may occur over several years or during a split second. However, we can summarise some of the key mechanisms which occur during this mental process. An idea is just that and needs to be added to and then validated to make an opportunity.

    The nascent entrepreneur enters the process with three sets of characteristics which can be split into Sociological factors, Demographic factors and Psychological factors. The Demographic factors are Age, Gender, Education level, Marital Status, Occupation, Population Growth, and Migration. These Sociological factors are Religion, Family, Network, Income & Wealth , Transport, Social Mobility, and Household Composition. The Psychological factors are Need for achievement, Need for autonomy, Internal Locus of control, Risk-taking propensity, Entrepreneurial Self Efficacy, Creative & innovative, and Motivational.

    These characteristics form the basis from which the nascent entrepreneur sees, finds and more importantly validates the business idea and the potential opportunity. This prior knowledge and competency in entrepreneurship sets the nascent entrepreneurs on the path. The trigger for this to occur varies, from long term intention to a point in time when either the need or the opportunity presents itself. The entrepreneur will bring forth a range of capitals which will be used to resource the venture these we term the Startup Entrepreneur Capitals. These can be brought down to Financial, Intellectual, Experiential (Human), Social, Cultural, Spiritual, and Material. These set what resources could be used in the first instances to start the business. After the business is started you can find new resources.

    Once the basis for the idea is found, the next stage is to analyse if it is exploitable? On a cognitive level, the nascent entrepreneur needs to understand the probability of success based on the personal investment available of resources to facilitate enough time to get the venture to profit. Then we need to understand will the venture be profitable enough to compensate for their opportunity costs.

    Once the nascent entrepreneur has validated an opportunity for them, they then need to scope it to understand the trajectory of the business and the potential scale. The required scale of a business is dependent on the industry and market and the ability of the team to manage it.

    The business then requires to be designed by the nascent entrepreneur. However, with no or little experience in designing a business, they need to connect the opportunity with their vision, the businesses mission and set the strategy and objectives to meet.

    Once they have thought this out they can start modelling the business, through tools like the business model canvas and potentially developing a business plan.

  • Exploring the business model trends for agri-food

    Exploring the business model trends for agri-food

    The food we eat is one of the most important aspects of our lives, besides clear water to drink. 

    In 2020, there are an increasing number of trents which we see in the agrifood market place which are coming together and making us rethink the consumption model for meat and more importantly the entire diet humans consume on the planet. Let’s highlight a few.

    The science behind the types of food we need is changing as we see the standard “post second world war” diet increasingly puts populations into obesity and early death. The understanding of macro and micro nutrients and what a balanced diet is has led to less meat consumption and also the rise of veganism throughout the western world(veganuary). The amount of information (some mis-information) available on good food diets (also sustainable consumption) is rising which allows people to research their own, create personal plans and develop better understandings, leading to a more diverse range of food consumption patterns.

    The welfare of animals requirements is growing as consumers demand better, which is driving up costs, the use of antibiotics and larger farms to maintain profitability. Biosecurity is an issue as Swine Flu, Bird Flu, SARs and Covid-19 all shown this global issue is not going away, so further research and understanding to mandate our food security is needed. The processing of meat is a major issue and the WHO has declared processed and cooked meats a carcinogen. 

    The relationship between land, its value, productivity and product type is reducing as technology allows these connections to be removed. The cost of labour is increasing, costs of health and safety in the (farm) workplace and the continued mechanisation, automation and ultimately robotization/AI replacement is increasing at a faster and faster pace.

    The percentage cost of food per household has over the last 50 years gone down, so consumers are increasingly looking for provenance of their food and understanding the benefits of finding diverse and local sources, through Veg and Meat Box schemes and buying directly. These short supply chains have proved more resilient and sustainable and technologies such as BlockChain, E-payments and direct messaging have proven themselves.

    The cost of carbon used in the production of food has come into public sectiny. Many countries require and industries have to account for the complete lifecycle of their products. Therefore within the agri-food sector this would then bring in creation, processing, transport, packaging and waste disposal which would currently make it unsustainable.

    The western world subsidises food through (In the UK its currently £3.4bn a year through CAP, which is around £56 per person per year which no other industry sector gets (pre Covid-19)) based on a post second world war model. This is based on the amount of land and food groups, which is a broken link to production already highlighted.

    The connection between farms and the environment is currently being explored as the next subside system(post-Brexit). The rural environment has been created by our farming methods and food requirements. These food requirements have changed and are changing fast so will result in changes to the rural landscape. The public’s perception and requirement of the rural landscape is under researched (are they happy with greenhouses the size of a small town or forests surrounding all villages. The options to decrease the environmental impact of the populations activities and their acceptance public debate.

    These trends are making the very business model of food development and consumption change very quickly and it’s important we discuss them as a community.

  • UK Entrepreneurs Policy Wish List 2019

    UK Entrepreneurs Policy Wish List 2019

    The UK is one of the best places for entrepreneurs to start a business but it still has a number of issues which needs to be resolved if this is to continue post Brexit.
    The UK government has stated in its Industrial Strategy white paper “Our ambition to make the UK the best place to start and grow a business requires us to safeguard the things we do that already contribute to our success, and to act where necessary to make us even more attractive.”

    So what action is needed to help Small Businesses?

    The Patient Capital review industry panel identified the real issues and stated stated that “opportunities remain for improvement across the ecosystem, particularly with respect to the transformational development of some of these start-ups into large-scale businesses, where the proportion of UK start-ups which scale into large businesses lags significantly behind the US. This indicates that many UK-based businesses are unable to reach their full potential and either remain “stuck” in a mode of incremental growth, or accept a trade sale as the most convenient exit, both of which are ultimately to the detriment of the UK economy, tax receipts and job creation.”
    … so I thought I would brainstorm an 11 point action plan for the UK government to act on in 2019, my:

    UK Entrepreneurs Policy Wish List 2019.

    1. Global Business Language

    • All business owners to be able to learn at least one of the top 5 business languages for free online: Top five languages: Chinese, Hindi, Spanish, Arabic and Portuguese
    • Business language and industry terms should be taught in all secondary schools
    • All schools teach Chinese as second language and not French to reflect international trade opportunities

    2. Knowledge Economy

    • Online Knowledge Centres hosted by one business focused university per region which cover topics such as:  Export, International Financial Transactions, International Legal Contracts, Global Insurance, International Taxation
    • Graduates who start businesses (and pay Corporation Tax) which employ more than 5 people (and pay PAYE) for more than 2 years get their student loan deleted
    • Creation of the national Innovation/Entrepreneurship/Export awards televised and sponsored by large businesses

    3. Business Productivity

    • All businesses must report a productivity metric in their annual accounts to companies house. This should force them to look at how to improve it, to ensure they are inline with international benchmarks
    • An industry strategy for UK low productivity industries should be set and implemented within 2 years
    • Support for increasing productivity through cloud and freemium technology platforms should be free for all SMEs

    4. UK companies should be able to create subsidiaries through UK companies house online

    5. To develop a better UK business centric culture, the BBC/Channel 4 news (government owned and run channels) to report good news stories on UK businesses and how they are exporting.

    • BBC/C4 measured on how many different UK based/citizen owned businesses they report on per year. The Total should be good news stories minus bad new stories.
    • The BBC/C4 charter to be changed to mandate promoting British Business Interests, especially British citizen owned SMEs and startups. It is currently the other way around.

    6. Government Spending (Local, County, Region Government and NHS)

    • Local governments to report on how they support SMEs through awarding smaller multiple awarding contracts
    • All local council/NHS offered contracts to be offered to SME who have registered office within 30 miles of the county/region boundary

    7. UK embassies driving UK exports

    • Set core focus of UK embassies to developing trade links and opportunities for UK businesses
    • To offer quarterly business networking sessions (<£50 per ticket)
    • To provide national reports/opportunities on monthly basis (free)
    • Set a new foreign office metric (UKP exports to that country per citizen of that country) which is reported to parliament each year

    8. Business Taxation

    • Streamline the HMRC business tax system so everything can be done online without an accountant or dedicated software. If it can’t be done delete that aspect of the tax system
    • Business rates for UK headquartered businesses set to zero for businesses less than £10m turnover
    • Business corporation tax at 12.5% same as Ireland, our neighbour

    9. SME Finance

    • British Business Bank to have focused fund for SME growth ( especially for businesses with £1m to £10m turnover)
    • Startup loans to continue with greater support in mentoring and global-export business best practice
    • CSR and charity donations to get better tax relief to encourage the long term development of a sustainable third sector

    10. All new processes post Brexit

    • For import and export to be done online within 24 hours
    • For bringing talent to UK (immigration) streamlined to 36 hours with online forms (e.g. getting Visa and NI) and pay less than £200 per person/employee

    11. Business Buildings infrastructure set for the new century

    • All new business parks/buildings have renewable energy generation
    • All new building (business+housing+retail) to have fibre broadband into the property (and not up to the curb) as the vast majority of businesses are run from home

  • 5 places to run your startup business, on the cheap

    What places to run your startup business?

    When starting out, you only seem to have costs and they keep coming in. The five set of fees are:

    1. Office space
    2. Utilities
    3. Incorporating and legal fees
    4. Accounting costs for the first year in business
    5. Payroll for employees

    So one of the main costs is office space and if we can reduce that we can survive for longer and hopefully last until we start making more money than we spend.

    1. Run your startup business from home. This won’t work for every business, but if it will work for yours it can save you a pile of cash on utilities and rent.
    2. Coffee Shop’s are happy to have you and have good wifi. You also get to meet like minded people and can invite people for meetings in the coffee shop.
    3.  Look out for a business incubator which helps startups by providing them space, mentors and events. These are normally free for a set period.
    4. Spare desk in someone else’s office. A lot of businesses have space and if you can use one or two desks in return for some form of payment, even your manpower it will be cheaper and more flexible.
    5. Find a co-working space where you can rent space as-needed for much less than the cost of a traditional commercial office which is normally looking for 3-5 years.

    Just remember when looking for office space its “Location, location, location.” , which drives home just how important location is when choosing a space for your startup business.

  • 5 Sources of funding to start a business

    5 Sources of funding to start a business

    If you are looking to fund your startup and not sure where to start? Here is a quick guide to five potential sources of funding for your small business. I have tried to put them in order with the best way first:

      1. Bootstrapping: Many billionaire entrepreneurs find a way to grow without external financing so that financiers don’t control their destinies or grab a disproportionate slice of the business.
      2. Customers: Advance payments from customers can give you the cash you need, at a relatively low cost, to keep your business growing. Advances also demonstrate a level of commitment by the customer to your operation.
      3. Friends and family members:  If you’re lucky, friends and family members might be the most lenient investors of the bunch. They don’t tend to make you pledge your house, and they might even agree to sell their interest in your company back to you for a nominal return.
      4. Startup Loans: Start Up Loans is a government-funded scheme that fund your startup and mentors entrepreneurs. They have a series of delivery partners  who will help you develop a business plan.
      5. Bank loans:  Banks are like the supermarket of debt financing. They provide short-, mid- or long-term financing, and they finance all asset needs, including working capital, equipment and real estate. However, they typically are not the first place to look for funds for your startup.

    When taking loans to fund your startup from friends and family, banks or another you must, have a written agreement covering every last detail regarding the loan. This includes the loan amount, the repayment period, the amount of each repayment instalment, the interest rate if any, consequences of non-repayment etc.  If in doubt get a lawyer to help you.

  • Venture Creation – BA (Hons) Entrepreneurship Programme

    Venture Creation – BA (Hons) Entrepreneurship Programme

    In the last year I have had the amazing  opportunity to design a venture creation BA (Hons) Entrepreneurship Programme which is oriented towards students who wish to combine study towards an honours degree with the opportunity to start their own business in a supported environment with guidance from specialist lecturers, practising entrepreneurs and mentors. Over the years I have seen many programmes and wanted to create something for Entrepreneurs, the student and for practitioners.

    This is a practice-oriented degree, which focuses on the development of the students’ entrepreneurial effectiveness. This is achieved by embracing the concept of ‘learning by doing’ which ensures students are acquiring real knowledge and practical expertise to support their business start-up and business growth aspirations. There is a focus on real business experiences including master classes, enterprise events and interactions with local and global entrepreneurs. This philosophy is extended within the assessment primarily for (rather than ‘of’) learning Entrepreneurship (QAA (2012) Enterprise and Entrepreneurship Education: Guidance for UK Higher Education Providers, pp9).

    Similarly, although there is an inherent emphasis on learning within the learner’s own start-up venture, the Entrepreneurship skills acquired will be transferable to other business environments and learning opportunities.

    This BA (Hons) Entrepreneurship Programme aligns with the nation and international government agenda (The Impact and Effectiveness of Entrepreneurship Policy, NESTA 2013) and seeks to increase the number of entrepreneurs in the economy.

    A range of teaching pedagogies are adopted to ensure the curriculum enhances the learning of all students both in the startup and in group learning environments. In addition to lectures, seminars, videos, podcasts, presentations and visiting entrepreneurs, students will participate in action learning sets and interactive activities to apply learning from businesses experiences in their startup. These approaches are intended to take into account the principles of inclusivity: the types of learner, their startup business, their prior experience and expectations and how they learn and will be supported to learn effectively.

    Given the focus on developing a continued learning environment in which students develop an entrepreneurial mindset, there is an emphasis within the BA (Hons) Entrepreneurship Programme on tutoring and mentoring to support individual requirements, and also to reflect (at a meta-cognitive level) on their learning process. The programme is supported by more than 10 Entrepreneurs in Residence, regional business support agencies and local businesses.