In our class last Friday with Dr. Alexis Amaye we did group work. For this we were given a product of a healthy drink with the extract from special leaves only found in Madagascar. We had to figure out the expenses and profits of this product. This was more challenging then I was expecting but when we all put our entrepreneurial thinking at work it helped us come up with creative ideas of getting the job done efficiently. Halfway through the task Dr. Alexis Amaye add an additional challenge to our task and we were forced to rethink our methods of completing the task.  Finally, we had to present our work to the class. This helped us practice our presentation skills which will be useful to have in the future. Overall, I found the session last Friday was very interesting and we practiced and lots of skills such as teamwork and presentation skills and we learnt how to use entrepreneurial thinking.

In response to Colin I would agree that we used willingness, tendency and willingness to make mistakes in our teamwork in our class last Friday.

I found Dr. Alexis Amaye’s session very productive. Alexis allowed us to work together in groups of 5 or 6 to sell a certain product. She allowed us to plan what we have to take into consideration before researching deeper into what the task we have complete. We then had to research as best we can to understand all the steps in selling this product. Then we had to get up in front of the class and Alexis and try sell our product ‘Dragon’s Den’ style. We had to explain each of the steps taken into account before coming up with our final profit or loss figure. Alexis then quizzed us on why we did what we did at certain steps. I found this part enjoyable as we watched other classmates talk and see their interesting ideas also.

In response to Padraig’s Entry I agree that the group session brought on the entrepreneurial mindset. This allowed us to consider what an entrepreneur must think of when trying to complete a task.   

My group consisted of Leigh, Luke, Evan, Cain and myself. We were given the glass manufacturing problem. We had to produce a certain number of windows + PVC doors and find a way to export them to Britain and negotiate around the trade barriers that we were faced with, especially with Brexit. It was a testing challenge as neither of us had knowledge of the market or procedures that had to be undertook to produce such products. We were lucky that we had Luke in our group as he was an Engineering student last year which helped in places. For example, his chemical knowledge gave us insight into the raw materials that were needed. In the middle of our group discussion, Alexis came up with a problem for each of the original problems. She told us that throughout the year there was a fire in the warehouse and half of our stock had been burnt. This didn’t have the desired effect on the group Alexis would have wanted as we had brushed aside the new problem with ease. I think this can be related to Lori Greiner’s idea that “Real magic comes from a brilliant idea combined with willpower, tenacity and a willingness to make mistakes.” I think this can be likened to our problem of the loss of stock. We could have given up, but we pushed through and found a contingency plan to counteract the new challenge, showing great tenacity and willpower.

When we were finished, we had constructed a business plan that would win over our buyer Alexis who acted as the other side of the deal. Alexis was a tough customer and squeezed and poked each aspect of our plan. She praised us on how our plan was structured and that we had clearly defined each department and each role that we had. This was down to leadership and like the last time I enjoyed taking the lead on some aspects of the plan. As I said before I like to talk and not listen. With saying that, everyone in the group had an input and this also helped us to reach our end goal. This experience has also taught me that I wouldn’t like to enter this industry or market. There are a lot of variables that must be controlled and there are a lot of things that can go wrong, and thus I have learned that it is not for me. 

With response to Karl, I would agree that the climate for entrepreneurs is not present for a majority of billion dollar ideas and hence why we loose so much innovation on a daily basis, this is where the Govt. must step in to norture a entrepreneurial friendly climate.

I 100% agree with Lori Grenier’s quote that it takes much more than just an idea to become successful and make money. It boils down to a lot of hard work and energy. The idea is only a stepping stone to turning it into a feasible product/service, and to do so requires determination and an ability to learn from mistakes. 

This quote reminds me a lot about our session with Alexis Amaye on Friday the 2^nd of November. Working in a group thought me a lot about how sometimes people’s opinions can differ from your own and you must find a way to accept other people’s views and work with them. I also learned that at times you are forced to adapt to change due to unforeseen circumstances, which can prove quite challenging. The talk also inspired me to become more innovative and take notice of things that I believe to be a nuisance, which could possibly be easier to use or of better quality. But on the other hand, I learned that entrepreneurship takes a lot of determination and willpower and is not just as simple as coming up with an idea. Capital plays a huge role in terms of whether an idea becomes commercialised or not. 

In response to Karl’s entry, I thoroughly agree that there have been many ideas that had the potential to make millions, but the people who generated them, for numerous possible reasons, could not bring them into commercialisation.  Usually this is true due to the large capital investment needed to produce, package and distribute products to large markets. 

In response to Dylan’s entry, I also found the questions and answers session at the end of the presentation rather enjoyable and I felt I provided competent answers to Dr Amaye’s questions.