How to set up and run a virtual business

Evolution map

This month I was delighted to be asked to be guest speaker on a module called Innovation and Enterprise at London South Bank University in my role as one of The Learning & Development Manager’s for SimVenture Evolution.

The Innovation and Enterprise module focuses on enterprise, entrepreneurship, innovation, creativity and business development. Students are using SimVenture Evolution to acquire the knowledge and skills required to set up and run a small business.

The aim of the module is to introduce students to the idea of a business start-up and enable them to appreciate the different areas within such an organisation, the consequences of decision making within the context of a small business and the different interpersonal and technical skills needed within a small business to make it operational. The module addresses issues such as business decision making and planning, team working, networking and entrepreneurial behaviours and characteristics.

During the two-hour workshop I coached students through the simulation starting with market research to assess the overall market conditions. We then moved onto to evaluating and exploring the competition, customer feedback, demographics and segmentation to work out our position in the market. We then moved onto analysing our own product and looking at ways of making it more attractive in the market place. The students then carried on with the aim of trying to make as much profit as they could whilst operating the whole business efficiently.

I loved the way students worked with each other and there was a lot of conversation and discussion in the room which is one of the many positive outcomes of this type of experiential learning.

We finished off the session with a discussion about which entrepreneurial skills and behaviours the students had developed and I was really pleased that they really understood what they had learned.

If you’d like me to speak on one of your courses, please contact me at lesley.strachan@simventure.co.uk. If you’d like to know a bit more about SimVenture Evolution here’s a link to a short video.

 

Lesley Strachan (MBA) is an Award-winning coach| consultant| speaker| trainer and adviser and is based in Hampshire, UK. She is also a Certified Jack Canfield Trainer in The Success Principles and uses her creativity and experience to inspire others through teaching, mentoring and coaching all over the world and has loads of fun doing it. Lesley has over 30 years of experience working in the corporate and education sectors as well as years of experience as an Entrepreneur. Her areas of expertise include: personal life coaching, communication training, leadership training, corporate training, health and wellness, and educational consultancy. Lesley is also a mentor for young people for EBP and an Enterprise Adviser for The Careers and Enterprise Company

Lesley’s latest book is due out soon called “The Ultimate Guide for Parents: How to help your kids become self-confident, happy and passionate.” Pre-Order Lesley’s Book and watch a mini webinar which explains what the book is about.

 

Lesley Strachan Consulting and Training

“Getting you from where you are to where you want to be”

Award winning Coach| Consultant| Speaker| Trainer| Adviser

Tel: 0044 (0)7739 172447|Email: lesley@lesleystrachan.co.uk

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