Thursday, 10 April 2008

Entrepreneurship Seminars - Setting up a Business

The next part of the seminar was delivered by Sally Reah, a woman who finished a Graphic Communication degree to end up designing jewellery.
I found this especially interested as I wanted to learn more about careers indirectly related to my degree. She had a very nontraditional path in becoming a business owner. After University she went travelling which became her source of inspiration for making jewellery. She then had a stall in a market in Ibiza and after that, one in Devon. This is where her business started to take structure.
I felt that she was interesting to me because I also am planning to travel after University and use the experience I gain in my work.
When starting off, she became popular through word of mouth rather than business cards. I thought this might be very difficult as she only had a small-sized stall but it appears word of mouth and looking after your existing customers is the best way to keep a steady base of customers that will accumulate. After a base was accumulated she then started to join local design groups and forums. It was surprising that she waited so late to start networking. Her next step was to setup e-commerce. I feel that she was aware her approach was not very plan-based and tactical. However, she was still successful but it took a long time.
For me, I would prefer a more planned structure approach to make a living but it does go to show that you don't always need to be constantly expanding, as long as you are generating enough money and happy.
She went on to talk about the art community which she is involved in. She stressed that it was very important to stay connected to the culture and developments of your area as its very easy to lose touch and this could make your business unsuccessful.
I found this part of the day interesting as it had a more personal touch to it as opposed to the rather serious side of business that the day would be heavy in. I feel that this was because she was passionate about her jewellery and this showed through her products. In all, the main point I got from this lecture was that it's important to enjoy your work and care about the customer's opinion because this is a very important building block that needs to be in the foundations of a business.