That was the first meeting with two students, quite possible future Business Moguls from Bangor University. The timing was perfect – spring, everything was flourishing, new ideas inclusive. Young, ambitious, enthusiastic students, Mike and Jason (not real names) wanted to play with a business idea. The reason I say “to play”, it was just a thought, not attached to anything real yet. The excitement for me was to see how hungry for business those guys were and if they were prepared to act.

Mike and Jason were both from London and that’s where they wanted to run their business in the future, one day after graduation. I understood the meeting purpose for them was to discuss the initial idea and explore the notion.

What makes your company unique?

At the start of our session it was just more of an exploration – what would you like to achieve? What are the benefits for your customers? What’s in it for you? During the discussion they made certain clarifications for themselves and created even more questions, wondering which ways or options were preferable. Covering different angles in the initial discussion played a fundamental role in checking how committed they were to their own idea and if they were convinced in its unique significance.

Values

I was interested in what their values were and if they were going to present and honour them in their business. I had a warm feeling and an extra burst of energy to help when they explained how they would like to make this business authentic, honourable, socially useful with the profit coming along the way.

Out of the idea a business concept was forming with more clarity as we explored it further. I could see both of them were becoming more enthusiastic, getting out their notepads and taking notes. I could observe how their focus was sharpening. The sparks were flying showing the business mindset in action.

Now

It is not possible to create a proper business strategy in two hours coaching session, given the lack of experience of these two students. So, it was a logical move to start gaining the experience…

While we discussed the benefits of business in future, it was a natural impulse to ask: Why not now? Why wait if the project is so exciting? We moved to the point – what would be essential if they started now while they are still at University? What would be the learning curve?

I invited both Mike and Jason to talk equally and answer all the questions, asking them if they plan to be equal partners. It transpired that while Mike was happy with any communication, Jason was not keen on public speaking. They were supportive of each other and recognised the importance of personal growth to achieve success in business.

A number of inquisitive questions, search for answers and innovative thinking created massive energy with desire and passion for actions!

Actions

From the initial business idea, we progressed to the specific date to launch the business. That was the moment when it started to feel real. The eyes of two students were shining with excitements, more notes were taken, more questions were asked as we moved with the strategy. They took their instincts and gut feel and use them for the decision-making process to move forward.

The rewarding part of entrepreneurial minds was creating a strategy for the first event. They planned immediate steps taking into consideration the big picture. The name of the business, logo and the first promotional campaign were all beautifully crafted there and then. Business name and logo already existed for another project, they managed to adapt it afresh, to their own amusement. That was the power of motivation!

“What would be the one reason people will want to come back?” The answer was “We’ll make it great!”

Action plan for the first event was in place. “We’ll send you an initiation” was an extra confirmation of the event happening.

I was so pleased how swiftly in a couple of hours Mike and Jason decided to implement their idea and see the outcomes, to learn from them. They just wanted the taste of business.

Business mindset

If you ask me was their idea revolutionary or one of a kind. The answer will be – not really, the business concept does exist. The way they approach it might be different. From their point of view the idea is innovative. It is the way they see it. I suggested them a few sites for exploration, to compare, to learn, maybe adopt something while developing and polishing their business.

The most valuable outcome what we have achieved during this first meeting – we started building a business mindset.

Business Club for Implementing Ideas.

Reflecting on the meeting now, it was surprising that two guys created an idea from scratch not checking if anything similar existed, so it was a massive learning curve for them to find out and study about similar ventures and to apply the useful information. The young ambition is great, though it is highly unlikely that it can compensate for the lack of experience. That’s why the idea to start now and gain that valuable experience was so appealing.

What would be even more productive is the meeting of young ambitious entrepreneurial minds and experienced seasoned skillful forces. How beneficial it could be for both sides to learn and recharge each other.

Certain things might be absolutely obvious for any businesses, then simply overlooked when we go with our daily tasks. Meeting people at the start of their business journey could be a wake-up call to refresh on personal skills and gaps.

I am setting up a Business Club for Implementing Ideas and build a bridge for entrepreneurial cooperation. It is my hope that by creating a Business Club for students, young entrepreneurs and seasoned business people we can establish a foundation for envisioning fresh ideas, building exciting businesses and recharging existing business to flourish. This collaboration is bound to be beneficial for both sides.

Get in touch if you are interested to participate:  info@kogancoaching.com