ECF Day 3 - Value Proposition - From idea to business

Monday 18th February 2019
Today marks day 3 of the programme, and there were quite a few workshops and group work sessions.

Attended a lecture - Entrepreneurship - General terms and principles
It was a fascinating and inspiring lecture because it made me think of other methods for generating business ideas. We were given a task to list problems or complaints that we experienced recently. What I liked about this task was that it made me think outside the box. Once you notice issues around you, it's easy to ask yourself how would you change this. Once you find a problem or flaw, you can quickly start brainstorming ideas. I think in the future if I ever have a creative block I will use this method for brainstorming ideas.

Group work
We had some time to discuss our list of problems in our groups. One thing that stood out to me is that a minor issue that might exist in one country has already been solved in another. Our example was public transportation in Ireland. We suggested solutions to the problems in Ireland, but those solutions already exist in other countries such as Finland. It's definitely essential researching other countries and possibly experiencing living abroad so one can see the similarities and differences in everyday life. One thing that was mentioned in the lecture previous was that it's a good idea to copy ideas from other countries. Ireland is definitely behind in some areas.


Attended a lecture - Value proposition design

This was definitely an entertaining and humorous lecture. One quote that I wrote during this lecture is spot on with how most branding, marketing and products work.
"You don't need it, but it's cool."
 When it comes to product branding and how companies sell products, they don't just sell a product, they sell a lifestyle. If I ever want to sell my own product I need to focus on branding and marketing. It's all about trying to get the people to think that they need this product. I think we are all manipulated and brainwashed by advertising from an early age. I will always remember that washing machines live longer with Calgon. We don't even use Calgon in my house. We are surrounded by advertising, but we are immune to it because we are so used to see it. It has become part of our lives.

One lecture from South Hampton gave a quick presentation, and he said something vital:

"Know what your vision is".

From past experiences, I understand the importance of this. If you don't understand your project or idea, how is anyone else going to? If you don't believe in your project, why would anyone else? I will make sure I understand my visions/ideas in the future. One thing I always do is run my ideas past my mother. She the worlds worst when it comes to technology and loses focus talking to you if you don't explain ideas to her clearly. If my mother understands my vision that a good indicator to me that I know it and I make it clear to other people.

In the afternoon I attended a creative entrepreneurship panel
It was lovely to hear the panel's stories about how they became entrepreneurs. To be honest my memory of this talk is limited because it was the end of the day and all I could think about was food. One thing that did stand out to me was the video Lee Denny showed us that promoted his music festival. My goodness, I wanted to buy tickets then and there. The filming, editing and content were well made. It made the audience desire to be there and part of the fun. Lee highlighted how companies create this illusion and another world that makes people want to be part of it. All they have to do is buy the product or go to Leefest. The reality of it is entirely different.



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