Business Ideas

How To Put A Business Idea Into Action

Set Squared, the world’s number one university business incubator organized a workshop in Basingstoke, Hampshire on Entrepreneurship in the first week of July 2017. The workshop was a hands on experience on how to turn an idea into a successful and profitable business.

The workshop brought together entrepreneurs from across the United Kingdom who were trained to use a customer discovery canvas to identify the problems they were looking to address. Participants then undertook various exercises aimed at understanding the problems facing consumers, estimating the market potential of their vague ideas and then finally pitching their business potential to a group of investors.

Held at the Apollo Hotel in Basingstoke, the workshop began on July 3rd with registrations after which the participants were organized into different groups. Participants were then encouraged to interact with other members of their group through team building exercises so that they could form a cohesive unit for the duration of the workshop.

This was then followed by individuals setting up their customer discover canvases on which they would being working for a solution. The canvas is a written tool which helps startups hone their business models. Individuals spent a large part of their time at the workshop improving and honing their canvas model. You can take a look at the free tools available at https://steveblank.com to hone your business model. These tools are sufficient to come up with a comprehensive business plan that would get you funding.

On the second day, participants presented a pitch of their reworked business idea to a panel of investors from across the globe. Once the pitch session was completed each participant got to spend five minutes with investors and mentors. In these sessions participants were given personal feedback based on the content of their pitch decks.

The second day of the workshop ended with the best pitcher being given an award for his presentation. The event was attended by close to 20 entrepreneurs who were at different stages of developing their startups.

The well organized event was conducted by Set Squared, a University Business Incubator which has in the past decade partnered with more than 1000 startups and helped them collectively raise US$ 1 billion in investment. The program was funded by a generous grant from the Europan Union’s Regional Development Fund.

You can apply to attend their next free training workshop at http://info.setsquared.co.uk

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