Who said Innovation was hard work?

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So as part of my course I got the chance to take part in a university-based competition where students from different university enter a business idea to either win £250 or £1000. Team Memoby failed to win any of the prizes but that’s ok because I understand where we went wrong, I’ll talk about that in my last post. That main thing I got out of the whole experience was that everyone has a skill that is useful, everyone has the optional to do great things but it all boils down to confidence, self-belief and determination. I believe that its not just products or services that can be innovative but also people and there process of work. This theory was very clear in the final presentation of the Bright Idea competition where we had the most amazing guest Shed Simove, let me just tell you that this guy is innovation in a nut shell.

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Shed Simove

Let me give some back ground information for those of you that don’t know who Shed Simove is. Shed is a 42-year-old British performer, entrepreneur, author and producer that has taken the world by storm with his innovative, fun and experimental gadgets that leave you laughing and asking questions. His focus for the last 3 years has been to create books and novelty products. The list below shows some of the things Shed has work on that have helped him reach his current status of success.

 

2001 – posed as a 16 year old schoolboy for a documentary on Channel 4

2006- Worked for Celebrity Big Brother 5

2007- legally changed his name by deed poll to GOD

2008- Launched is own currency name The Ego

2011- wrote a novelty book, ‘ What every man thinks about apart from sex’

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I believe that Shed really proved that people could also be innovative. I describe innovation as a process, you think different, act different and produce something different. To be innovative could both be complicated but very simple, you have to take risks, because risk allow for greater rewards. However in saying that taking risk could also give you a huge loss, me personally, I welcome a loss if it means one day ill get a big reward, you have to go through a lot of crap before you find the piece of gold.

Tips on how to help the innovation process

  1. Look beyond the clouds to see the sun– sometimes things are not what they seen. You have to be willing to look beyond what you eyes will show you. With the right mind you can change anything.
  2. Questions are you’re friend – As long as you have questions, ask them. Questions are the best way to learn, you wont know unless you ask. Also questions can lead to some great connections.
  3. Soak it up like a sponge – No matter how old, educated or important you are, learning new things will always make you better. There is always someone out there that could teach you something new, be will to soak it up and lean.
  4. Grow like a strong tree- as time moves and trends come and go you have to be willing to change with the time and develop.
  5. Who said you can’t- You can do anything you set your mind to. If you always listen to the negative things people say you will probably fail. Keep pushing and keep trying, its all in good time.

 

 

Simove, S. (2014) Shed Simove the ideas man, Available at: http://shedsimove.com/(Accessed: 12th April 2014).

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Blog Fest, Uni life and so much more

 

Hi guys, would you believe that this is my first post of 2014, time literally ran away from me and I’ve been chasing it since December 2013. This years has already been so busy that it’s left me in a continuous state of ‘work mode’ but never the less my excitement for not only finishing but also seeing the combination of all my hard work is pushing me to continue through this final step. It is now April and all my taught classes have ended then in September I hand in my last ever piece of work, it’s hard to believe that I’ve been doing this for a whole year.

I’m so ready to move on to the next part of my life and see new experiences come by. Also in the words of my famous strategy teacher “once you have a masters, you’re pretty much a master of the universe” I completely believe that 100%

My first week back in to the Mace Design a Business class was so interesting and intriguing because it offered insight into how other people saw me as a blogger and a serious writer. I was entered into a competition called Blog Fest 2014, where a group of other bloggers read each other’s posts and voted for the best Blogger and best blog post. Would you believe that I came fourth out of 35 for best blogger and had one post that was a top favourite? This one session really showed me how to continuously grow and be better than what I previously was. From the comments of the other bloggers I learnt that I am unique, as a writer I have a voice that is very different which helps me stand out. This is an important skill to have when starting a business because when it comes to marketing, having a unique way to present the service or product can truly elevate who and how people approach the business.

This Is very true for the Memoby product, we deliberately wrote in a style that is both light hearted and fun but also very thought provoking. We focused on using two different styles of writing, expository writing and descriptive writing.

Expository writing is used to help effectively explain what the Memoby product is quickly and accurately. It wasn’t a place for us to give our personal opinion on the product, but rather give facts and statistics about not just the product but also the research we did to produce the product.

Descriptive writing is used as a form to be more creative and opinionated within the Memoby brand. This was by far the best way for us to truly allow consumers to understand what our product is about. We created stories and used words that allowed the imagination to become very creative.

 Hub Pages (2014) Four Different Types of Writing Styles: Expository, Descriptive, Persuasive and Narrative, Available at: http://hunbbel-meer.hubpages.com/hub/Four-Types-of-Writing (Accessed: 11th April 2014).

 

Remember when writing you always want to leave a great or lets just say important impression. The product might be amazing but if you can’t make people love the products based on how you present it in terms of your writing skills then they wont fair well in the long run.

 

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Branding, Branding and more Branding :)

Branding is the Boss!

After a product has been produced, branding to me is the most important aspect to get right. If branding is perfect then marketing and sells will be a lot easier because the customers will come to you. My group Memoby has just stated the branding stage with the design of our logo.

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Whilst designing the logo and starting other processes we uses the system below to help us accurately develop the idea.

 

  • Brand is everything that creates an experience for the customer
  • DNA is the unique message of the business that is communicated in the brand
  • Identity is usually the visual part of the brand: logo, colours, layout, adverts, design

Source from Dr. Corrine Beaumont, Kingston University

 

It’s clear from the system below that my team has started looking at the identity of our product. Memoby is a combination of Memory and baby; we wanted our product name to be something that people would automatically associate with baby products. We also wanted to be a combination of the two main aspects of our product. We picked the style of writing including the smiley face and color because the round and smooth edges resemble the round edges of a bouncing baby. We felt as a team that after a while it would be a common association.

 While in class we looked at different companies that really created a strong branding theme without directly making it obvious. The new Virgin Atlantic Safety video is possible the most perfect use of branding based on the original company and the service they offer.

Please take a look at this link, and feel free to leave comments: http://www.youtube.com/watch?v=Hbib-A6NpW8&feature=results_video&playnext=1&list=PL1F0154B2D3972B62 

 

Memoby’s Next Step for Branding

The next step for Memoby Is to create a brand and image that we wish to be know by because that will also help us attract a certain type of customer. We will focus on ways of how to connect marketing and branding together, which will just support the strength of the product. When marketing we will use STP: Segmentation, Targeting and Positioning but stay tuned because marketing will be discussed in another blog.

 

“The keys to brand success are self-definition, transparency, authenticity and accountability.” Simon Mainwaring

How to Design a Business

Discovery session: Number one
Market research using the “User Model”

Hello everyone, just a quick recap from my last post.
If you’ve already forgotten my name is Indie and for around a year I will be sharing my journey towards achieving a master’s degree in International Business Management with Entrepreneurship. I’ll be focusing on one of my yearlong classes named Design a Business. So far it’s an amazing class because we actually get to design a business.
In small groups we aim to complete the tasks below to help in the successful creation of a company.

1, Think of product (No food, too many rules)
2, Market research (Finding out what the public want or maybe what they need)
3, Make mistakes (Before you can be successful you must first make mistakes)
4, Start again- Start steps and two again (Second time lucky)
5, Product prototype (creation)
6, Product testing (Also research!! opinions and thoughts of the general public)
7, Product prototype creation 2 (Taking what the public said and making adjustments and suitable changes)
8, Branding (Creating an image for the product. Logos, colors, product name and such things as text font all matter)
9, Marketing (Making the product known)
10, Sales (Placing the product on the market)
11, Reflection (What went well and what could be better)

Below is a breakdown of the sections above. I decided to ask myself more questions in order to answer the key questions.A good buisness plan is well thoughtout and organised and interesting.

Business idea question list

  • The Idea:
  1. What is the business idea?
  2. Who is our target audience?  (Who will benefit the most from this venture)?
  3. What are the potential problems and how can they be resolved?
  4. What are our goals
  5. How will the prototype be developed
  • Market research:
  1. What is the industry like
  2.  Who are our competitors (international and UK)
  3. what tactics do our competitors use to help in there success 
  4.  Is there another product like this in the market?
  5. Is there an open opportunity in the market right now for our product?
  6. What does the general public think of this idea?
  • Marketing and Branding:
  1. How will we create a brand and what will it be.
  2. Are we focusing on any current issues within society today (Helping to fight weight loss, depression, military etc .. etc .. etc)
  3. Other than Facebook, word of mouth, twitter, flyers and posters, how can we market for the future?
  • Product purchase/ product design:
  1. Where will the supplies for the product come from? (Samples of what we are offering)
  2. How will your product or service meet customers needs?
  3. How and where will the product be sold
  4. How will we measure our progress?
  • Finance (predictions):  
  1.  What is our starting capital?
  2. Where will we get the funds?
  3. What will the money be used for (break down; Web design, domain purchase, product…Etc.etc etc.)?
  4. What is our one year predicted sales (cash flow)
  5. Financial forecast (What could our profit be in 5 years) (loss and profit)
  6. How can we secure funds (shares, partnership and sponsorships
  • Future Ventures:
  1. How will the company grow in the future? (include finance, marketing and branding)
  2. How will the new generation change the dynamics of the company
  3. In what ways can we adapt to the change of time (stay current?)

“Opportunists seek for a chance.

Entrepreneurs make new chances.”

Toba Beta, My Ancestor Was an Ancient Astronaut