Entrepreneurship in the Media

As part of Global Entrepreneurship Week, I attended an evening discussion on Entrepreneurship in the Media at Channel 4.

As i arrived, with a glass of champagne in my hand, from what i gathered most of the guests attending were from the creative industries, as well as some entrepreneurs.

On the panel of guest speakers included Charlie Muirhead, Inma Martinez, Jon Kingsbury,
Marc Ortmans, Marcus Liassides and _____. The panel was chaired by Tom Ilube.

This was the first event I attended at Channel 4, but it seems like the orhgansiation is serious about working more on entreprenruhsip and especially froma cretaive contetcs perspective, which of course would help add value to the channels coverage of business news.

Global Entreprenurship Week 2011

by Yousef Alikhasi

Global Entreprenurship Week 2011

I attended two events, botht he great british christmas show and also at channel 4

The man behind BlackBerry, Swiffer and Scion on how to do branding right

By Connie Loizos

In the brand-naming world, Sausalito, Calif.-based Lexicon has become legendary for its work over the last 30 years, and no wonder. It named the Pentium chip for Intel, the PowerBook for Apple, the Swiffer for Procter & Gamble, and Dasani for Coca Cola. As a recent New Yorker piece about the firm observed, Lexicon also managed to transform Research in Motion’s bland, corporate, painstakingly matter-of-fact smart phones into caressable little devices, all with the word Blackberry.

It’s not an easy trick to pull off, says Lexicon founder David Placek, who believes a good brand has to blend numerous variables, including resonance, pluck and the ability to tell a service or product’s story, often in just a few characters.

Following Netflix’s now-famous Qwikster debacle, I called Placek to learn more about his job, and how both big and small companies might do a better job of selecting brands for themselves. Our conversation has been edited for length.

Q: Let’s start with a really annoying question. Why can’t you just tell a client, ‘I’m going to give you 25 great names, and you’re going to love one of them.’ That tactic seems to work just fine for Don Draper.

A: Ha. I think a number of clients might think like that. For us the role of a name is to help someone tell a story, to break [consumers’] habits, to convey something new — all in a world with trademark protection and the need to work fairly well across a number of languages. That’s saying nothing of needing an available URL.

In our work sessions, we might show our clients 25 names, but it’s really treasure hunting, a way for us to go back and forth and see what will get attention and general interest and get something new into the market. Most people don’t appreciate how hard this is, and how valuable this word, their brand, will be to them in the future.

Q: What do you say to the Columbia Business School professor in the New Yorker piece, who argues that a brand is just a starting point for a brand, and that Amazon would have been just as successful if it had been called Nile?

A: He’s an academic, and he’s absolutely wrong.  First, Amazon takes the claim of the world’s largest river. It’s also the assembly of those letters — the sound of it, the ‘z’ in there. And Jeff Bezos connected the name so beautifully to the world’s largest bookstore. Think about it. The idea of a bookstore is kind of boring, but Amazon is a place where there’s a lot going on and a lot of interest.

What brand names do very well is establish an idea as quickly and as efficiently as possible, and Amazon, as a brand, was much more effective in establishing this new force in the marketplace than Nile could ever have been. Nile is smaller in sound, it’s technically a shorter river, and it’s frankly boring — nothing against the Egyptians.

Q: What other brands have really knocked it out of the park, in your view?

A: I think Zynga is just a really good name for a company that’s about wanting to give the world permission to play. It’s saying something new and telling a story. It’s efficient and punchy and unique without seeming to try too hard.

I really like Groupon, which is very practical and just took idea of coupon but found a way to convey that it’s something new. I love iPhone, which tells you without trying too hard that this isn’t just a phone. Another brand that I like is Raystream, which is a video compression service whose name projects sun and streaming. The company was formerly called Interdom, a slow-moving name that sounded like someone was calling from downstairs. But the company bought Raystream and smartly adopted its name.

Q: And names you don’t like?

A: I’m sure there are a lot of them. The hotel chain Extended Stay is about as flat as it comes. There’s no color to it, no hope of comfort. If you’re going to stay at a hotel for two or three weeks to do an audit of a company, could anything sound more bleak than heading to the Extended Stay? It’s right out of the old Soviet Union.

Q: What do you make of startups that use non-U.S. domains to create a brand, like dlvr.it?

A: We’re certainly looking at these names. I think it works in cases where it’s not forced. Bit.ly is fortuitous, for example.

There’s such a scramble to get a .com., .net [or] .biz, and people are understandably trying to avoid paying hundreds of thousands of dollars or getting into a dispute over a URL. My best advice here is to find a natural break in the word, like bit-ly. The mind will [remember that]. If you make something awkward or hard to spell or it’s overly clever, it won’t work and you’ll only be doing your competitors a favor. You want them to be jealous of your brand name, not to think: ‘We can beat that.’

Q: Do startups face any challenges that are distinct from big companies that are choosing a new brand?

A: Larger companies have more money and that may help when it comes to launching and sustaining a new brand. But after that, it’s all the same. It’s the challenge of: What’s the strategy? What’s the story? Whether you’re a three-person startup or an organization with 10,000 employees, it’s really the same process, which is nice in that the playing field is pretty even.

Q: Do you think the name Qwikster would have been given less grief it it hadn’t come out of Netflix?

A: My own opinion — and Netflix isn’t a client — is that they underestimated the value of the Netflix brand and the equity that brand has. So they made a change in business strategy and a change in name. If it had been maybe leaked out that ‘we’re thinking about this service, like Netflix Q or Netflix Quick’ — that [might have been less disastrous]. But all of a sudden, it was, ‘We’re doing this,’ and people thought, ‘Wait a minute. Are they pulling a fast one on us?’

Q: Interesting that you suggest Netflix Q. Should a big brand spinoff ideally reference the parent brand?

A: No, I don’t think there was anything inherently wrong with Qwikster. The brands don’t have to connect through. Just look at Procter & Gamble: They have dozens of brands. With Netflix, it was just a question of how it was managed. Of course, there was also debate about whether it was the right thing to do in the first place.

Q: You’ve talked about boiling a company’s story down to one name. Is it insanely broad to ask how you do that?

A: It’s block and tackle stuff. What are you doing? What’s the benefit? What’s the competition out there? If everyone is descriptive and highly suggestive, then you don’t want to be there. So you take out a territory; ‘We’re not going to describe this’ service or product.

Then it evolves around: What’s our personality? How do people feel when they use this service or when they are wearing this product? And you start to get qualities or sounds. When we created Swiffer, we thought: What does this product sound like? You’re swiping, you’re wiping. It’s easy and swift and — boom — Swiffer. But that wouldn’t have come out of an objective where people said, ‘It’s a more effective cleaner and saves people time.’

The same was true with Blackberry. People’s blood pressure goes up when you talk about email, so we went for simplicity and usefulness and a little bit of joy.

Q: It used to be that products were very descriptive, like Mr. Coffee. Do you think they’ll go retro again, sort of as children’s names have?

A: I think that’s possible. As tech moves along and we make a leap from one technology into another, there’s an opportunity to be descriptive in nature. Then it fades away, and people again have to create Zyngas and Pentiums. Think about the earlier search engines. You had InfoSeek and WebFinder. Then we got so much clutter that people couldn’t sort it out. It’s then that you began seeing Google and, more recently, Bing. I’m sure we’ll have some new, ultra-intelligent search technology, and the cycle will start anew.

Q: Any thoughts on uniformly lowercase names, or names that input a capital letter mid-word?

A: As for inputting a capital letter, we did that with PowerBook, to sort of add emphasis and strength to it. I know from a reporter’s standpoint, it’s probably a little bit of a hassle. That’s true on the client side, too. But in fact, we tell them to try and police it, to remind people — and reporters — that PowerBook has an inner cap ‘B,’ for example. You can train people to respect a design mark.

On lowercase names, I don’t know that it materially affects anything. I’m not a designer, and I suspect [lowercase letters] have a tendency to weaken the overall impression of a name. But generally speaking, it probably doesn’t have any real effect on what the name communicates. I think in most situations, [lowercase names] are trying to communicate gentleness and calmness. I also think that it’s designers trying to be designers.

Original Source: http://blogs.reuters.com/small-business/2011/11/02/the-man-behind-blackberry-swiffer-and-scion-on-how-to-do-branding-right/

McDonald’s sets out to pick the teams to serve food at the London Olympic Games

By David Woods

McDonald’s has launched its first Olympic Champion Crew Super Team event at its Strand restaurant near Charing Cross Station in London, to select the squad to work in its restaurants at the London 2012 Olympic and Paralympic Games.

The Olympic Champion Crew Super Team events, running throughout November at some of the UK’s busiest McDonald’s restaurants, have been designed to select McDonald’s best employees from across the country to work at the four Olympic Park restaurants for the duration of London 2012.

Crew members will have to demonstrate their speed, customer service and ability to work as part of a new team in a fast-paced environment to deliver the ultimate customer experience to Games spectators.

Former England rugby player and coach Clive Woodward gave participants advice on how to have the energy, stamina and teamwork needed to produce their best performance under pressure. In appreciation of his attendance, McDonald’s is making a donation to Team GB.

Jill McDonald, CEO at McDonald’s UK, said: “Events such as this challenge are helping us seek out our very best people to work in our Olympic Park restaurants during next year’s Games. Being able to use our years of experience in customer service to help make London 2012 the best Games ever is something I am hugely proud of. At events up and down the country, our crew members will be put through their paces in order to compete for the once-in-a-lifetime opportunity of serving customers, athletes and visitors at the Games next summer.

“Their performance will need to be world-class in order to meet the challenge of the Games. We are looking for those people who epitomise McDonald’s team spirit, adapt to new environments quickly and can deliver the best possible customer service.”

Clive Woodward, director of sport for the British Olympic Association (pictured), added: “This programme is a great example of the efforts some sponsors are going to in order to play their part in ensuring visitors to the Games get the best possible experience. By equipping employees with these skills, McDonald’s will not only ensure high levels of customer service at the Games, but it will also leave a lasting legacy for the hospitality sector across the UK.

“I am delighted that as part of the Olympic Champion Crew programme, McDonald’s will not only offer opportunities to its crew but also extend support to Team GB, helping athletes prepare for the Games.”

Over the past year, restaurant managers have been nominating their strongest employees for a chance to work at London 2012. Following over 100 selection events across the UK throughout November, a squad of 2,000 employees will be chosen from the 12,000 shortlisted.

Orignal Source: http://www.hrmagazine.co.uk/hro/news/1020405/mcdonalds-sets-pick-teams-serve-food-london-olympic-games

MBAs focus on entrepreneurship

By Lucy Tobin

Working for yourself is ever more appealing as jobs vanish. As a result, the content of online MBAs is shifting.

The MBA used to be the preserve of the senior manager – the best way to clamber up the career ladder to a lucrative boardroom position. Then came the recession, and thousands more business men and women at every stage in their careers were adding the three letters after their name in a bid to boost their employability. A few years on, MBAs are more popular than ever.

But with corporate life now involving 12-hour-plus days and stressful job insecurity, today, for many, the motivation to do an MBA has changed. The growing lure of life as an entrepreneur means MBA courses are shifting to include modules on creating a start-up. The Tomorrow’s MBA study, an annual report commissioned by the Association of Business Schools, which represents the UK’s business schools and management colleges, reported on the trend for the first time this summer. “For years,” it said, “the focus for many MBA students has been banking, finance and consulting. This is shifting; entrepreneurship may be the trend of the future.”

The research found that more than 30% named entrepreneurship as one of the most important pieces of content in an MBA programme, the first time it featured in the top five student choices.

Academics confirm the shift. With many new start-up ideas involving the internet, where entrepreneurs need to move fast to avoid having their idea copied, it’s little surprise that demand for distance-learning MBAs – which are easier to juggle alongside incubating a business idea – is soaring. For example, at the University of Liverpool, the largest provider of wholly online degrees in Europe, more than a third of its 7,500 internet students are enrolled on MBA courses and entrepreneurialism has become a growing component.

“Over the past two years, we’ve introduced modules in social enterprise, entrepreneurial work in emerging markets, and entrepreneurship because students have become increasingly keen on them,” says Alan Southern, director of e-learning and senior lecturer in management.

Durham University’s business school saw enrolment in its online global MBA rise by over 200% for the 2011 intake. Warwick University, which offers modules in entrepreneurial finance and new-venture creation, innovation and creativity, also confirms a strong growth in demand. On its course, students develop their own business plans through a final project, which could be further developed into a career. “Our enterprise stream benefits from links with Warwick Science Park and Warwick Ventures, responsible for commercialising the university’s research,” says Jon Lees, executive director of the MBA course.

That practical element is a key attraction, adds Southern at Liverpool. Nick Jenkins, for example, the founder of online greeting card business Moonpig, dreamed up his personalised card idea while studying for an MBA at Cranfield University. Other entrepreneurial MBAs include John Scully, former chief executive of Apple, and Meg Whitman, president of eBay.

Nick Jenkins dreamed up his personalised greeting cards when studying for an MBA at Cranfield University Photograph: Micha Theiner/eyevine

 

Growing trend

And the enterprise trend is spreading to traditional MBAs: the London Business School’s full-time MBA programme includes six entrepreneurship electives; Cass Business School offers Entrepreneurship: From Start-up to Success, and Innovation and New Product Development, among its MBA options.

Heather Short, who is in her 40s, is studying an MBA at the University of Portsmouth. “I was sure it would lead me to something exciting,” she says. “And it has.” Short was working in networking marketing when she saw a product being used overseas that she thought had “huge potential” in the UK and embarked on an MBA to find out how to be more entrepreneurial. “I now have the theory to back up my business experience,” says Short. “There is definitely a shift from people doing MBAs to climb the corporate ladder to those keen to learn skills for a start-up. The MBA recognises this by having an entrepreneur’s masterclass, but there could even be a course in its own right.”

Likewise Shaun McCormick, 38, was working in senior management for a pharmaceutical giant when he enrolled on a distance learning MBA at the University of Leicester. “The course content challenges your thought process, and the strategic and creative thinking made me look at just about everything I was doing,” he says. “I kept asking myself ‘why not set up a business with the ideas you are generating?'”

At the beginning of the recession, when McCormick was made redundant, he did just that. He now runs three businesses, including consultancy Tacit Pharma, which advises firms on procurement strategy, sales, regulation and new business generation. “The MBA helped my understanding of all the factors that impact on a business and how best to navigate to grow. My MBA experiences helped me launch, finance and grow the companies, find new markets and customers and create jobs.”

Developing economies

Much of the current demand for online MBAs stems from students living in developing economies. At Bradford University, MBA course organisers introduced a module in entrepreneurship in April, partly to appeal to an international audience. Some 40% of the university’s distance students live in developing countries. “Traditional international business strategy-type modules have been augmented by more focused ones, such as Managing International Business in Emerging Economies,” explains spokesman Jonathan Muir.

That’s true, too, at Liverpool. “Nine in 10 of our online student population come from overseas, where there’s also a strong demand for entrepreneurial education,” says Southern. “But it’s a different type of need, so we’ve responded with modules on starting up a business in emerging economies like Brazil and China. It means our online MBA is just as valid for someone thinking about becoming an entrepreneur in Germany, the UK or Nigeria.”

Original Source:

http://www.guardian.co.uk/education/2011/nov/14/mba-entrepreneurs-start-up-skills

Easyjet profits from business travel

A boost in the number of its business and European travellers helped Easyjet report increased profits for 2011.

The budget airline announced a pre-tax profit of £248m for the year to 30 September, in line with expectations, up from a profit of £154m in 2010.

The improvement was led by a 11.8% increase in passenger numbers, with one million more people using the airline for business travel.

In September, Easyjet announced a £150m special dividend for shareholders.

The special dividend brings the total cash return to shareholders to £195m, or 45.4 pence per share, for the year.

Easyjet chief executive Carolyn McCall said the results were achieved, “despite the headwinds of higher fuel costs and a weak and uncertain economic outlook”.

The airline saw a £100m increase in fuel costs during the year, but said it had managed to offset this through efficiency savings.

Despite the downturn in the eurozone, forward bookings for the Christmas period were in line with the previous year – with about 45% of seats now booked.

The airline also improved its punctuality with 79% of flights arriving within 15 minutes of their scheduled time, an improvement on the rate of 66% in 2010.

Easyjet has been in dispute with its founder, Sir Stelios Haji-Ioannou, over the airline’s expansions plans.

Sir Stelios and his family own 38% of the shares in Easyjet, but in September he said was planning to set up a new airline called Fastjet.

Original Source:

http://www.bbc.co.uk/news/business-15732969

Global Entreprenurship Week

Days after David Cameron announced plans to support small and medium-sized businesses through a new funds package, the fourth Global Entrepreneurship Week is launched. The event aims to highlight the importance of entrepreneurs, celebrate entrepreneurial businesses and encourage people to launch their own ventures.

The Prime Minister announced a £95million boost to the Regional Growth Fund to support firms looking to invest in new capital assets. It is expected to create at least 4,000 jobs and unlock £500million of new investment.

Cameron also underlined the importance of supporting the ‘crucial’ role of women in enterprise. ‘If women were setting up new firms at the same rate as men, we’d have 150,000 more start-ups in the UK every year,’ he said.

Home Secretary Theresa May recently announced a mentoring scheme for women wanting to start a business. Cameron added: ‘Small businesses are already doing incredible things, but we urgently need more of them to follow that boldness. We need this to be a country where more people think, “I can start my own business and I can sell to the world”.’

Global Entrepreneurship Week was started in 2008 by the Enterprise UK charity and America-based entrepreneurship organisation the Kauffman Foundation, and is sponsored by Royal Bank of Scotland.

Throughout this week a huge number of events will be held around the country. These include the Entrepreneurs Festival, a business ‘boot camp’ for tech start-ups and entrepreneurs being held by the Tech City Investment Organisation.

Entrepreneurs will have the opportunity to take part in mentoring sessions and showcase their business to potential investors. The British Library will be holding a ‘Question Time’ for entrepreneurs as well as speed-mentoring sessions, while a number of debates and conferences will be held at venues, including the House of Commons and Birmingham Science Park.

The Confederation of British Industry’s Growing Business awards will be held tomorrow to mark the start of the week. The Women of the Future awards, held in association with Shell, will take place on the Wednesday and recognise the achievements of women aged up to 35.

David Higgins co-founded recruitment firm Harvey Nash and later floated it in 1997. He has since set up Inception Partners, a leadership and advisory firm in London. David was one of the judges in the Growing Business Awards.

‘It is encouraging to see, both through the awards and events such as this week, that there are a huge number of very talented and innovative people out there, who are building the companies of the future,’ he says.

‘The more support and guidance they can access, the more likely they are to achieve the success the economy needs.’

Entrepreneurs taking part in the various events include Doug Richard, the former Dragons’ Den TV star and founder of School for Startups; Martha Lane Fox, co-founder of lastminute. com; and Paul Lindley, founder of Ella’s Kitchen.

By Helen Loveless

Original Source: http://www.thisismoney.co.uk/money/news/article-2061061/Global-Entrepreneurship-Week-The-inspiration-start-venture.html#ixzz1dhiO03EX