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Becoming A Successful Entrepreneur Nevin Cody, www.QEDtraining.ie

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  • Becoming A Successful Entrepreneur

    Nevin Cody, www.QEDtraining.ie

  • Joanne Managing Director

    QED Training [email protected]

    QED Office Antoinette

    [email protected]

    Noel Director of Training and

    IT Trainer [email protected]

    Maria Legal Issues Trainer

    Muireann Idea Generation, Marketing and

    Business Planning Trainer

    Michael Social Media/Online

    Market Research Trainer

    Phil Sales & Negotiation Trainer

    YOUR TEAM

    Rory Financial & Legal Issues

    Trainer

    Nevin Idea Generation and

    Business Planning Trainer

  • 3

  • • Next 5 Sessions • Who’s in the Room? • Mind of Entrepreneur • Ingredients of Good Idea/ Opportunity • Generation Techniques • Idea Evaluation • What next?

    This session …


    3

  • Becoming a Successful

    Entrepreneur Nevin Cody

    Creating the Best Business

    Plan 31st March Nevin Cody

    Market Research Skills

    7th April

    Bringing your Business Online

    14th April

    Essential Supports & Services foe Entrepreneur

    21st April

    OUTLINE FOR SIX TALKS

    Financial Support and Grants for Entrepreneurs

    298th April

  • NEVINCODY?Mystorysofar:✓ Retail(TraineetoRegionalManager)✓ Banking,RegionalManager✓ Coaching/Training/Consulting/Mentoring✓ Magician/Entertainer/Singer✓ Businessowner✓ 29yearsdone-XXtogo???

    ThingsI’vestudied:✓ Training&ContinuedadultEducationNUIMaynooth✓ Banking&FinanceUCD&NUI(BankingInstituteIreland)✓ Leadership/Business/Sales/Networking/Change

    management✓ Magic/Stagecraft

    ThingsIknow:x Nothingaboutyourworld✓ Loadsaboutmine

  • Introduce ourselves

    YOUR NETWORK

    What do you want t

    o get

    from this course?

  • What is an Entrepreneur?

    An entrepreneur Is a person that creates, organises

    and manages a business while trying to make a profit.

  • BECOMING a SUCCESSFUL ENTREPRENEUR

  • Self confident Creative Persistent Hard working /

    Drive / Energy

    Motivation / Commitment /

    Passion

    Need for independence

    Risk takersProblem solvers

    Goals Failure/ Feedback Desire to achieve Use initiative

    Seek personal responsibility

    Tolerance of uncertainty

    Characteristics

    Passion Planners

  • WHERE DO PEOPLE GET AN IDEA FROM?

  • INGREDIENTSTOAGOOD

    IDEA

    IDEAGENERATIONTECHNIQUES

    IDEAEVALUATION

  • INGREDIENTSTOAGOOD

    IDEA

  • HOW DO YOU KNOW IF YOURS IS AN UGLY DUCKLING!

  • QED MODEL FOR SUCCESS

  • QED MODEL FOR SUCCESS

  • QualifiedPLAN

    €conomics

    DEMAND

    QED MODEL FOR SUCCESS

  • IDEAGENERATIONTECHNIQUES

  • where do ideas come from?

  • InnovationBrandnewideaforproductorservice

    Renovation/AdaptationWaytodosomethingbetter/moreefficiently

    ProblemSolving

    PassionsWorkingonprovidingsomethingtomarketyouarepassionateabout

    Crashing

    Trends

  • Innovation 
& 


    Renovation

  • Renovation – My Urbio

    http://www.springwise.com/retail/izarzugaza/

  • THERE ARE HUNDREDS OF IDEAS OUT THERE, NOT ALL OF

    THEM GOOD ONES.

  • WWW.ITSMYSCAR.COM

  • Don’t set up a business just because you can or because

    you like it.
Look for needs, watch trends, listen for complaints, problems

    or pains. Then get creative about building a business

    around them.

    There are 100s of ideas out there – we know what makes a

    good one, where do we find them?

  • Passion
& 


    Skills

  • Passion Tara Haughton, Rosso Solini

  • PASSIO

    What skills/passions do you enjoy!

    Pick one Area!PASSION

    SKILLS

  • Skills and Passions

    Me#

  • Skills and Passions

    Me#Interest

  • Problem Solving

  • Renovation

  • First: Identify a complaint, problem or need

    ____________________________________

    Then: get creative about how to capitalise on it (brainstorm)

  • Problem Solving

    STEP 1

    Industry)

    Problem(

    Problem(

    Problem(

    Problem(

  • Problem Solving

    STEP 2

    Problem(

    Solu+on(

    Solu+on(

    Solu+on(

    Solu+on(

  • trends?

  • 81%ofshoppersconductonlineresearchbeforebuying

    Source:ForresterResearchInc.,“UKInternetUserMonitor”

  • Objective

    Consumer

    Business

    Solution

    One Third of Irish people now spend 


    20+ hours 
online weekly

    Source: Comscore & February 2010 European Interactive Advertising Association (EIAA) "EIAA Mediascope Europe 2010 & BARB (Q4 2009)

    Irish Consumers have moved online...

    Objective

    Consumer

    Business

    Solution

  • 47

  • Crashing

  • Whatiscrashing

    MyBusiness+

    BusinessModel=

    Lotsofideas!!!

  • EXAMPLE

    RYANAIR

    • LowCostModel• PricevService• PricevConvenience• AncillaryRevenue (Payforeveryelement)• Stripoutcosts• TurnaroundTime• BulkPurchase

  • EXAMPLE

    DISNEYWORLD

    • Customer Experience • Safety and cleanliness • Child perspective • Element of surprise & wonder • Story Telling • Merchandise

  • EXAMPLE

    DOCTOR+

    RYANAIR

    =??????

    DOCTOR+

    DISNEYWORLD=

    ??????

  • STATUS STORIES

    BMW museum

  • IDEAEVALUATION

  • How do I assess an idea?

  • Examples?• High Demand, Low Margin?

    • Low Demand, High Margin?

    • Low Demand, Low Margin?

    • High Demand, High Margin?

  • DEMAND

    Economics

  • What 3 things will you do now?

    1) 2) 3)

    ACTION PLANNING

  • To Recap

  • When you have an idea that solves a problem (or meets a need), the next

    steps are……..

  • QualifiedPLAN

    €conomics

    DEMAND

    QED MODEL FOR SUCCESS

  • Becoming a Successful

    Entrepreneur Nevin Cody

    Creating the Best Business

    Plan 31st March Nevin Cody

    Market Research Skills

    7th April

    Bringing your Business Online

    14th April

    Essential Supports & Services foe Entrepreneur

    21st April

    OUTLINE FOR SIX TALKS

    Financial Support and Grants for Entrepreneurs

    298th April

  • • Understanding Mind of Entrepreneur • Ingredients of good Ideas • Idea Generation • Idea Evaluation • What Next?

    Todays Objectives…


    3

  • THE END 
(and the beginning)

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