Starting with Start-ups

Posted by: Mihir

Over the last semester, MiMs studied Entrepreneurial Management – all you need to know when innovating and aiming to launch your own start-up. This module has been full of real-life knowledge that I found useful as we studied cases which were debated extensively in class and had an entrepreneur speak to us each week regarding their journey and lessons learnt. This included how to finance ventures, value an idea and create the ideal team.

Perhaps the best example of practical application was the ‘Discovery Project’ that teams undertook to come up with an innovative idea that addresses a pain point in the consumers lives and design and develop a business model to fill that market gap. Culminating weeks of market research and brainstorming was a Tradeshow presentation at London Business School where entrepreneurs from the LBS Incubator program judged the ideas.

Winning ideas included a student discount app for establishments near universities, self defence mobile accessory for women and a website to help people undertake courses for personal development.

What I most enjoyed through this whole experience was actually going through the processes that are required before beginning a business and being able to understand what are my strengths and weaknesses throughout the journey. Since we worked in a team, we were able to balance the skills required to design the product, undertake market research, and produce a financial forecast and business model.

This is just one example to showcase why I feel the MiM is a great degree in management because it does not only cover the theory and frameworks for business but also equips you with the practical information required to apply this knowledge.

3 Responses to “Starting with Start-ups”

  1. avatar Anthony Markus says:

    I found the real world case studies to be extremely helpful, nice summary.

  2. avatar Shachi says:

    I find the MiM program interesting.I have persued my bachelor’s degree in pharmacy and I have an inclination towards marketing. I donot have any substantial work experience except for internships. I would like to know if MiM program can help me to set my foot in pharma or cosmetic industry.

  3. avatar Fathi says:

    It’s really a clear process from beginning, with just an idea that needs studies to finish with a great product, as you said all that won’t come overnight, it needs some patience, work and good network with the right people, I’ve found this last, the most important, business idea or business creation can’t succeed with real network of people who understand their work and know exactly how to collaborate.