09 Mar 2017
Developing entrepreneurial skills at the ‘LBS Enterprise for Schools’
50 pupils gathered from four Schools to take part in the LBS Enterprise for Schools challenge and design a learning app. The year 10 pupils are all studying GCSE Economics and Business and the competition gave them the opportunity to practice their entrepreneurial skills.
A day full of energy as they were exposed to LBS entrepreneurs, entrepreneurial thinking and the challenge to create and pitch a business of their own. The students were given talks and workshops over the course of the day to help them develop their app idea.
‘Some of the students experienced a taster coaching session and were full of innovative and entrepreneurial ideas. The students reflected on their life and talked about their future goals and ambitions. They learned about life coaching and the importance of believing in yourself and your abilities. The team that came second were inspired by the session and used their creativity to design their app’ Sharon Wilson, Strategy & Entrepreneurship Manager at LBS and founder of Life-Unlock.
Each team was supervised by LBS volunteers helping them to present their idea.
‘I was very impressed by the pupils. They came up with great ideas for the app and they also did a fantastic job presenting their proposed solutions’ said one of the team captains Emese Mandzak, Digital Campaigns Manager at LBS.
The day’s packed agenda included a Faculty keynote from Jeff Skinner, Executive Director of the Deloitte Institute of Innovation and Entrepreneurship. Jeff’s opening talk emphasised the importance of exposing new venture ideas to the ‘market’ as soon as possible and taking the advice of pitch competition judges with a pinch of salt. He took the example of a student who had written to him asking to ‘judge’ her business idea – to import Argentinian ‘Pinguinos’ to the UK.
Jeff resolutely refused to do so, instead challenging the would-be entrepreneur – as he challenged the 50 students – to identify ways in which they might identify and test potential weak-spots in the venture.
The bottom line was, ‘get out of the building’ and start testing your venture out on those you really need – suppliers, customers and investors – putting their feedback way ahead of any judges!
Read more about the event here.