A Journey of a Thousand Miles

Searching for the Perfect "Green" Product

Think Outside the Box

The Art of Innovation

UCT

The Genesis Project

Wednesday, July 31, 2013

Riana's "holiday" entrepreneurial lessons

Individual learning:
Being a group- and business member has resulted in large amounts of personal growth and learning. As an individual I have constantly been forced to act beyond my comfort zone and my usual way of getting things done. Working with many different suppliers forces an individual to grow up very quickly and not to allow others to walk all over you. I have learnt that one has to keep business relationships strict and professional and act in a manner that forces suppliers to take you, as individual, seriously. I cannot be the shy and conservative girl that I am with friends and family. I have to tell a supplier exactly what it is that I want, demand what I have paid for and not settle for second best or something that was rushed and completed half-heartedly. If I ordered and paid for the best, the best service is what I deserve. I have to be in control of myself and my actions as a representative of the business as this will affect the success or failure of the business.

Group learning:
Being part of a group has proven to be very challenging this semester. As we approach the end of our course and business year, many of the group members seem to be less and less motivated about our product and the success of our business. The lack of enthusiasm and motivation make it very difficult to work in a group setting at times and this is reflected in the completion of group work and assigned academic tasks. It has become evident to me that as a group member, I should always attempt to motivate my team members through showing them my own enthusiasm about the work we are doing and being an example of how motivated all group members should be. Being in charge of the production process gives me the benefit of seeing our ideas and product come to life. This gives me an advantage over the rest of the group members and makes it very easy to be enthusiastic and motivation. I have learnt that it is my responsibility to keep the rest of the group informed regarding the progress of our production process and that this may help keep the group motivation levels high.

Business learning:
Being responsible for the sourcing and production process of our business has proven to be a very challenging yet rewarding process. There are so many little unforeseen factors that go into this process and there is so much that can go wrong. This role has taught me to sit down and establish each and every factor that goes into one production cycle of the business. It has become evident that each factor of the production process is just as important as the next and that all the factors should be taken into consideration at all times. If one step during the production process is delayed the entire outcome of the finished garment is affected and this could ultimately affect the success or failure of the business. It is important to monitor all suppliers and the progress of current orders and requested jobs that form part of the production process. It has also become evident that the business should always identify and establish a back-up plan and make alternative arrangements should one of the orders go wrong or a problem arise with one of the suppliers in the production chain.


So How Was Your Vac?


How was the vac you ask? Well firstly it ended nearly three weeks ago. Although my brain didn't seem to work that out until last  Friday. Well at least some of the team have been keeping things going while the rest of us had a bit of an all fall down post exams. A big thank you goes out to Bianca Riana and Craig for their diligence in keeping the Azura project going.

From the last month or so I have learnt that I have to be more careful with my personal resources. I burnt out rather badly at after exams and have really struggled to get my motivation and energy levels back to where they were during the early part of the year. This has left other members to pick up my slack. Fortunately for me they have been able to do so but my loss of motivation and drive has cost the team time and energy at a rather crucial juncture. I have learnt that there are always far more steps to getting something done than there seem from the outset and the importance of managing and coordinating those steps as efficiently as possible. I am learning that I need to communicate more effectively as a member of our team.

I have learnt how dangerous a lack of communication can be for the team as a whole. Leaving issues unaddressed can negatively affect the team’s motivation and moral. This is an issue we need to work hard at as a team because at the moment it seems to be causing problems in the group as well as complications and delays for the business. I have learnt that these issues need to be dealt with quickly too or they can become harder t deal with as a continued lack of communication only serves to alienate group members further. Considering how little time we have left any delays now impact seriously on the timing of several important upcoming events. I have learnt that when group members become passionate about a section of work or part of a project they will go above and beyond what is expected of them.  

It has become clear to me that while I have been struggling for motivation the business has carried on regardless. The lesson here has been that time and business wait for no man. There are always deadline that need to be met and processes that will need to be managed. As a leader if you drop the ball you need people of character in your team who are able to catch it before it’s too late.


I have also seen that what may seem like a relatively simple process can be far more complicated than it first appears and it is important to have done good research and know exactly what is required before making deadlines and goals. Planning is essential, mishandling a single step can stop the production process for days and backlog all other areas of a business until it is sorted out. At the same time there are processes within the business that can be run in parallel to the production process. Being able to do this effectively is a good way to save time and energy but it needs to be well planned and executed efficiently to make sure that there are enough resources (time, money and energy) to keep all processes running together.  

Reflections post-vac

Over the past two months we have been on a break from academics, which gave us the amazing opportunity to just focus on our business. Here are my reflections on my individual, group and business learnings.

INDIVIDUAL LEARNINGS
Over the past few months my most significant learning has been the realization of how determined and committed I am to become a successful entrepreneur and establish a sustainable Genesis business. After exams ended, all but one of my fellow group members left Cape Town or decided they were not going to work and communicate with their fellow shareholders. I dedicated my holiday to Azura and worked constantly on developing our product and establishing our business. Although I felt let down by the majority of the Azura shareholders, I made a decision to not let this hinder my development as an entrepreneur. Upon commencing university, I realised just how much personal growth I have gone through and how much I have learnt about starting a business as a result of my passion and commitment to our business.

 

GROUP LEARNINGS
During our holidays I felt neglected by and disappointed in most of my group members due to the lack of communication and contribution. A major learning for me with regard to working with a group of people was how to ensure my feelings did not progress to anger that could be taken out on my group members. Despite the fact that their behaviour was not acceptable, I realized that I have to lead by example and motivate them to get back on board. This learning was fuelled working alongside Riana this holiday and realizing how important it is to work with people who share your passion and commitment. The task was significantly less stressful when working effectively as a team.

 

BUSINESS LEARNNGS
In our business endeavours over the past few months I have learnt many lessons with regard to business. The most significant of which is the first thing that we were told when we joined the Genesis programme, the importance of networking. While working on product development and setting up the production department in a field in which I have no expertise whatsoever, my most important tool was my ability to network. Whether it be in sourcing suppliers or manufacturers, all of our partners have been secured via a referral from a personal contact or from one of the contacts I made in these endeavours. What has been even more significant, is realizing the extent that people are willing to help young entrepreneurs if they can relate to the passion that drives you. This has been such a motivating experience and fuelled my passion as an entrepreneur even further.
Until next time,
B

Reflections from Last Semester

We are now in the second semester of our entrepreneurship course and I am thankful that I survived the first act.  As I reflect on how far I have come on this journey, I realize that the greatest lessons I have learned are not found in any text books. In the class room, I was equipped with academic tools to becoming a successful entrepreneur. For example, I learned about Steven Covey’s 7 habits of highly effective people and how to use multiple strategies to solve complex business problems. However it was outside the classroom and in the college of the “hard knocks of life” where I became aware that Entrepreneurship is a journey of continuous discovery, renewal and learning. After a series of events that occurred over the winter break, I learned that the ability to be transparent while maintaining good relationships based on honesty and trust is supremely important for any entrepreneur. At the end of the day, Entrepreneurship is a state of mind and a function of the heart.

One topic that stood out for me last semester was Blue ocean strategy.  In class, I learned how companies were able to make competition irrelevant by using the four-action framework of eliminate, raise, reduce and create. Instead of competing in over-crowded ‘red ocean’ industries, a wiser business strategy was to create a Blue Ocean of uncontested market space. The blue ocean strategy was particularly important because my Genesis group and I used it to excel in Cake Sale 2.  In Cake Sale 1, my group made the mistake of selling boerewors rolls. There were at least two other groups selling it and the market was saturated with this food item. As a result, we were operating in a red ocean with multiple competitors and our sales were lower than expected. However in cake sale 2, we decided to change our menu and serve gourmet wood fire oven pizza.  We had no competition because there were no other teams selling pizza. By using a blue ocean strategy, my team succeeded in making competition irrelevant, catering to a niche market and getting high profit margins. Thanks to the blue ocean strategy, we were able to make almost double the amount of money we generated in the previous cake sale. The important lesson I learned as a group is that it is always wiser to work smarter instead of harder.

Last semester, I learned about the competitive advantage of Nations by Porter. This really opened my eyes to what it takes to transform companies into world class global competitors. By identifying key factors that competitive nations have in common, Porter was able to come up with a framework for nations to gain competitive advantage.  One salient point that fascinated me about this topic is the fact that competitive nations usually become great because they have a shortage or challenge in a certain area that drives them to be innovative and look for a solution. On the other hand, nations endowed with an abundance of resources or ideal conditions have a tendency to become lazy. Porter’s framework is very essential and can be applied to our genesis business as well. This is good news for our Azura business because this means that our obstacles and challenges have the potential to position us as leaders and innovators in this year’s Genesis project. As a business that has been plagued with quite a few setbacks in the past (such as lack of resources or shortage of man-power to name a few) we have learned that mistakes WILL happen and things will go wrong. But it’s how you handle the mistakes that make all the difference. By turning our failures into leanings and using them as stepping stones to future success, our business like Porter states, will continue to improve and gain competitive advantages in this new semester Till next time, Anim.

Tuesday, July 30, 2013

Post vacation considerations


After such a long vacation break, one can only imagine the amount of reflection actually done by each team member, and I thus would like to share my experiences and resolutions that I have come to. However I would like to look at three aspects of learning, namely individual, group and business leaning.


Individual Learning
 

During the vacation, one had much time to think and reflect on their progress during the year. It is hard to put into writing all I have gained at this moment; however there are many things that I have learnt about myself. The rest of the lessons will only be unveiled to me during the course of my entrepreneurial career. This would prove to be the benefits that are gained from learning by doing, or action based learning as it is famously referred to in one of our courses. By the time you realize that you have learnt something, you find that you already doing it. As odd as that might sound, it has been something I have come to appreciate.

To be a successful entrepreneur is no easy task, and requires an intense conviction in order to be truly successful. The only way one can be truly certain of the road they intend to travel, is if they follow their heart. Thus the saying entrepreneurship needs to come from the heart. The pursuit of riches should never be the reason of becoming an entrepreneur, as when times are tough and the money is dry, the fire and aspiration to continue can will dwindle. However going through various courses and lessons learnt throughout the year I have realized that this is something I am passionate about. Having always had the entrepreneurial spirit, I was always put off by the fears of not having the safety of a guaranteed paycheck and not being certain of where the next source of income will come from. But something struck within me in this year that has made me realize that with the right discipline and mental attitude, one need not be scared of the challenges that lie ahead but rather meet every challenge with eagerness to achieve something that would leave a lasting impression in those who it affects. This has made me confident in my abilities and potential to make a change in our country.

This does not go to say that I have not realized any weakness within me as every human is flawed. However what has really struck me the most has been my incapability to let people into my world. This is a major weakness within me which can be attributed to my lack of communication. As this is something I have seen within myself, I owe it to myself to try over come this short coming.  A team is only as strong as its weakest link. Having dropped the ball, and seeing the effect it has had one my fellow team mates. I realized that even the greatest intentions can cause the greatest harm.  Going forward into the year I would like to dedicate myself to communicating with other people.

Group Learning

I would like to see my group learning as two fold. Firstly what I learnt from my group, and secondly what my group learnt from each other. The greatest lesson from this is that in the current environment we live, one has to always expect “black swan” events. From all the downs we experienced from each other, suppliers, sponsors. The group has matured in the way we started responding to situations, and this could have only been gained by being put through such situations and the experienced gained from each situation.

What I learnt about working in a group is that, group members don’t bite.

Business Learning

As an entrepreneur, you are your business.

Even in its simplicity this sentence has come to mean a great deal in my business learning process, and I have come to understand it in many ways. I recall from the experience that we as a business experienced upon completion of exams. The individuals in the business went their separate ways due to various reasons, whether be to deal with private issues, complete vacation employment programs or plain simply on holiday. This can be expected from anyone from time to time. However when looking at the ramifications of such actions, it is plain to see that the business, either went on holiday, or the business went to deal with private issues. Every moment we spent away from the business, valuable time was lost, and as the saying going time is money, the opportunity cost of time taken off your business, can be the difference between turning a profit and running a loss.

As an Entrepreneur your life is your business and needs to be managed accordingly. Following Steve Coveys - 7 Habits of Highly Effective People is good start in following a path to principle centered leadership. This is the corner stone of any sustainable company.

Another way to look at this is that any successful company has been built on the back of hard work and creative innovation. Thus the amount of hard work you as the business owner are willing to put in, the more successful you business will be. This reinforces the notion that, you are your business. The greatest example I can think of in this would be Steve Jobs and Richard Branson. These two individuals stand by their businesses and would do all in their power to make any venture they take part in a success. Countless number of examples can be thought of when looking at these two individuals.

Sunday, July 21, 2013

Weekend Afterthoughts - July 20th & 21st

It's been good to get back to university this past week.

I've quite enjoyed the structure and introductions to the courses that await us.

As a group, we're definitely still finding ourselves and each other, and we're experimenting with a new found orderliness to the way we engage and conduct our meetings. For example, our division into departments/teams of the business and clearly defined roles and responsibilities.

It seems like everyone is on board, but I hope that we've thought everything through in implementing so that there is still room for people to feel inspired and ambitious, and creative and proactive in their approach to our business.

What definitely happened towards the end of last semester was that people experienced 'burn out'. The rush of business, projects and exams, took its tool. And during the holidays, those of us who are not used to and do not regularly operate at a fast and effective pace, recovered with a vengeance.

Upon reflecting over the weekend, I notice that I'm feeling hope in that we do not burn out as a team, and that I may stay strong and driven right until the end of the year, and beyond!

Until next time,
Craig

Laying the Table for the Muse - July 19th

Did you know that most artists don't really feel like they were the ones who 'created' their art? It's weird, but true.

In the first time running course at UCT called Creativity in Business, we were taken through quotes of various artists, musicians, poets and writers, in order to explore the creative process.

What was shown to be a common theme was the experience of encountering a 'muse'. 

Often the muse arrives without notice, bringing inspiring sounds, thoughts and visions from a mysterious place. Almost just as spontaneously as they arrived, they disappear, leaving trails and wisps of their beauty. The artist is left with the echoes that they must then recount and weave into an expression of how they experienced their visitation of the muse.

This is the process that the course hopes to take us through so that we may better be able to set the right conditions for the visitation of the muse, and recognize her when she arrives.

I'm very excited by this course because I feel that it's the first time that I will engage with some of these processes in an organised fashion and rekindle my inner artist.

We've been divided up into three streams: baking, music, and writing. Each stream will have five sessions with an expert in the field, and work to ignite the process.

I have chosen the not so obvious stream, writing. I have chosen it because I feel that writing is something that I've always enjoyed, but somehow it has become a laborious task, where the inner critic promptly shows up either early or shortly after the muse.

I think there is huge value in being able to produce written content, especially in business and online, and I hope this course will help me connect all the 'knowledge' in my head to the creativity in my heart, so that better sentences flow in the work that I produce.

Thursday, July 18, 2013

The Vibe of the Day - July 18th

Today we had two double period lectures. One called Politics of Enterprise, and the other Management Theory in Practice. I probably don't speak for the whole class when I say this, but I quite enjoyed them!

Politics of Enterprise is all about ethics and law in business - at least for the first half of the course. On the other hand, Management Theory in Practice is all about the different kinds of management styles and has three sections: organisational metaphors, organisational effectiveness, and leadership.

I'm pretty psyched about the MTIP section on leadership. I find that whole topic fascinating as there is often a very deep and personal journey of development that has to occur before one can step into their full potential as a leader. I heard a quote once that put it quite nicely: "before you can lead others, you must first lead yourself". And that's why I'm here in a way.... Yippee!

Then we watched an old but awesome documentary on Isaac Newton... Did you know that he was a absolute beast? I mean, this guy pretty much did 80% of the breakthroughs and discoveries that took us to where we are today, and was super famous... But had few friends. However, it was all compensated for by his love and passion for learning.

Quite an inspirational way to start the week, and I'm hoping the rest of the semester unfolds along the same tune.

Wednesday, July 17, 2013

What They Don't Teach You at UCT... - July 17th

We live in an over-communicated world. The average person will 'see' approximately 3000 adverts a day, and virtually not a single one will be remembered. Why is that?

I think it's because we're all focused on branding, instead of selling.

Every formal marketing course that I've come across teaches the same thing... 'brand equity this', 'brand awareness that'... preaching what works best for large corporations like Coca Cola and McDonalds. But what if you aren't a big fancy corporation and you don't plan on working inside of one?

In contrast, everything I've ever leaned from internet marketing gurus, like Jay Abraham, Eben Pagan, Jeff Johnson... is that small businesses need to focus on sales and cash-flow. Therefore they should focus on direct response marketing and forget about trying to emulate big corporations.

Some of these guru-dudes even go as far to say that branding is somewhat of a 'crutch'. They say that doing sales and actually asking someone to buy your product/service is an anxiety provoking activity where you have to face rejection. So what we do? We brand! And what happens if people don't buy? It's someone else's fault!... not us. We did good branding. No sales though...

Here's where I'm going with this:
The kind of advertising you decide to do will often communicate what is at the core of your marketing. So why does most advertising suck? Because at the core is branding. It's all, "you should buy this because we stand for family values" or something of the like.

Great advertising that actually stops you dead in your tracks is the kind that makes use of sales tactics, and understanding of the customer's fears and frustrations, and wants and desires, and then uses language that hits an emotional hot-button and asks them to take action.

I am aware that I may be leaving some unanswered bits here, but I gotta post this before 12am, and have one minute to go. Feel free to email me if you want to discuss this something though :)

One last interesting thing I heard...
"if you want people to notice your ads, don't design them like ads... design them like the things that people pay attention and lower their defenses to... i.e. news paper articles or blog posts..."

Tuesday, July 16, 2013

Mysterious Courses - July 16th

I think this is the first term that I haven't been waiting in the long line outside a course convener's office door, waiting to change my electives.

This semester we were given the options to choose two out of four courses as electives: integrated marketing communications (basically advertising), e-marketing, retail and services marketing, and project and operations management.

People will disagree with me, but I think the obvious choices are advertising and e-marketing.

Everyone wants to be a big shot CEO type-person, so has gone with project and operations management. From my perspective this wasn't the best choice, because firstly, it starts at 8am, secondly, we're sort of already learning project and operations management in practice, and thirdly, I get the feeling that it's the kind of course that would prepare you for a 'brick and mortar' business, while I'm personally more fascinated by internet and online business... I believe that we're moving out of the industrial/consumption driven economies, and into knowledge based economies.

The same logic was applied to the retail and services marketing course, and I decided to take e-marketing (no surprise here) and advertising. I think many of my peers have not fully recognized the importance of this course, as they think it's very 'airy fairy' and 'wishy washy' due to it's abstract/reflective/creative nature. In my opinion, there is nothing more vital to a business, and to the skill-set of an entrepreneur, as being able to reach inside the minds of prospective customers, and connect their product to felt wants and desires or fears and frustrations - and then communicating it effectively. Plus the work load and starting times are friendlier :)

So, just in case you're making this decision some time in the future, hopefully this will help you make the right one.

In other news, we're about to purchase our domain name. Stay tuned and watch this space... and the next one...

First Day Back! - July 15th

Hello once again, its Crazy Craig back on blog duty!

Today was our first day back at varsity, and I must say that our time table (at least mine) looks waaaay more chilled. It's hard not to get excited by the later starts, earlier finishing times and sometimes, even a weekly day off... but I know it's important to use the extra 'free time' wisely and invest it in developing our group and product.

It's pretty awesome where we are current at with our product. We're on track to having over 150 Azuras ready for sale in the next week or two. The main things to get out of the way is a photoshoot for our packaging and a final quote from our CMT. From there it's just hard selling, hard reporting, and planning launch day.

Come on baby!