Today, our beloved speaker Dr. Roland continued with his lecture on innovation and entrepreneurship. Before he started, he asked the class: ‘How are you?’ Most of us said ‘good’ or ‘fine’. He then said: ‘You all should have said I feel brand new, because it shows enthusiasm in towards your life. This positive attitude is very important to achieve success in either business or life’ He proceeded with the next question: ‘Are you ready?’ We replied with a yes. Again he said: ‘You all should have said I was born ready. This shows that you are really prepared for what is coming up next. Again this shows enthusiasm and positive attitude which all of you should have.’ This showed why I enjoy his lesson so much, because we always learn new things from him, even at the beginning of his lecture.
We started our lecture on discussing a case study named ‘Nothing Unique to Offer’. This case study involved a business man wanting to venture into a pizza business near a local university even when there are three existing competitors. After each group has presented their solution to the case study problem, he pointed out our good and bad points which have benefited everyone of us in order to practically apply the two concepts he taught yesterday, which were importance versus interesting and NABC approach (N = need, A = approach, B = benefits per costs, C = Competition/alternatives).
The lecture continued with more interactive sessions with the most interesting session being the ‘Elevator Pitch’. An ‘Elevator Pitch’ means a 30 to 60 seconds well-practiced and succinct description of our company that your mother or even your grandmother can understand during the time it would needed to ride up an elevator. It is something like the lyrics of Eminem’s ‘Lose Yourself’:
Look, if you had one shot…
One opportunity to seize everything you ever wanted…
One moment…
Would you capture it…
Or just let it slip away?
Why should an entrepreneur need to put great emphasis on ‘Elevator Pitch’? This is simply because it can help to figure out what is at the core of a person’s business. Dr. Roland continued with the three main components of Elevator Pitch: Hook à NABC à Close. Each group has to present its product with the aim to kill during Elevator Pitch. Some groups did really very good job and were praised by the speaker and the crowds.
Yesterday and today’s lectures were really very valuable as we learned to think and act like an entrepreneur. The lectures also encouraged us to allow our business idea juices to flow. Thank you Dr. Roland, for making the lectures interesting and inspiring. Kudos to you!
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