Entreprise week event

5% Idea 95% Effort (LetterChocBox)

During Entreprise week i attended 2 events. My favourite one was the second one i attended which was called 5% Idea 95% Effort. At this event a young entrepreneur called Nicolas, gave a presentation of how his business succeeded. Nicolas is from a familly with a entrepreneurial background, and therefore had a lot of knowledge businesswise. He started his first business at 22 and then went on in the alcohol industry couple of years later, where he became bankrupt. However one day he came with the simple idea of sending chocolates through post for any special occasions. This idea was just an idea that any one could have thought of. He invested a lot of money to make this product and to bring it onto the market, and very rapidly demand for his product grew. One year on, he has a turnover of a million pound a year and is currently exporting his product to 20 countries. He is expecting his turnover to be 4 times higher next year (4 million). He has no high costs as his company is virtual, and has no staff. This company is run by four people. (his friends and familly). He told the audiance that "the reward is very big however in order to get that level of reward he has to be constantly working". He has also said that "an entrepreneur has to take risks in new ideas, if you don't take risks you don't have a chance to move up the ladder." The presentation in that Nicolas did included designs of his products, costs he had, The way he marketed and advertised his product, how he is marketing his product in other countries than the U.K. language barriers that he had managed to pass, The way he outsources to keep his business going and reducing costs inmensly. And at the end of the the presentation nicolas told the audience that he brounght samples of his product however he only had 20. He therefore threw them around the room, and the lucky ones would catch em, talking about lucky i managed to catch one, which i shared with the freinds.

By going to this event, it has really made me ware of the real world and how things can be achieved if business rules were followed appropriatly and used cleverly. This entrepreneur is the cleverest person i have met in my life so far. listening to him and his success has made me think businesswise, i have started saving which i never used to do and i take money more seriously. I have already started to think about what i could do after my degree, ways of earning money. This person has really inspired me to think, to be more aware of the business suroundings, and to save money on the long run.

Conclusion:
Nicolas, the entrepreneur, is a very successful businessman who made his success by purely using his brain. Thinking of a simple idea that any one could have thought of, and using his brain cleverly to minimise costs to a maximum, he is now a very wealthy man from being a man in debt due to the failure of his alcohol business. In conclusion, he has inspired me to think more and to look at things in different ways. This person was successful by using his brain, and maybe if more people started using their brains then they could be more wealthier and the world would be a better place.