BIESS PROGRAM 2019
We are here to change your mindset so that you can create social and economic value wherever you choose to live and work. This program will prepare you for global scale opportunities while contributing to the local economy at home, in the Balkans!
Topics covered in the BIESS 2019
From Idea to Success – What does it take?
50-80% of people in surveys confirm they have had at least one idea they thought would make a good business, yet under ½% ever try. When asked why the most common answer is not risk or money—its that they didnt know how. They key to success in any undertaking is an entrepreneurial mindset, a way of proceeding that eliminates risks, and a focus on learning and trying.
Every successful innovation starts with a need. Human-centered design equips you with a mind-set that enables good observation to find good ideas and turn them into effective and sustainable solutions to everyday problems people face. The key to human-centered design thinking is to observe the ordinary this is where the best ideas come from.
Doing your homework getting to know what your users and customers want and finding ways to help them is what market validation is all about. It asks for continual questioning and iteration, but finding out that your initial idea has been reshaped by the feedback is oftentimes a very good sign that you’re on the right track.
Team & People Development
In any enterprise, it’s all about the people. Investors look for investable teams first, business plans second. What to do about forming a team, developing agreements, sharing the ownership—all are critical to get right.
Never say there is no competition! There is always competition. Competition brings out the best in products and the worst in men. Learn how to overcome barriers to your entry, and how to erect them against competitors who will try to follow you.
The calculus of risk, and management of it over time, is the drama of building an enterprise. Any new idea starts out as little more than a bundle of risk. De-risking ideas is the central goal of entrepreneurial execution, and there are proven methods to do it well.
Ideas can be valuable property—sometimes even the most valuable assets of a company. But only if you create intellectual property and protect your rights with diligence and care. Its a tough and competitive world, so entrepreneurs are best prepared when they are best educated about how to manage their intellectual property assets.
Dwight Eisenhower said, In preparing for battle, I have always found that plans are useless, but planning is indispensable. There is no one formula for developing a plan for your business, but there are universal things you need to consider, and you ignore them only at your peril.
Marketing & Sales
They may complement each other, but marketing does not equal sales. Being a good salesperson can be taught, but requires willingness to do your market research, communicate, and put yourself into your customers’ shoes in order to see how you can meet their needs. Sales is arguably the most important function in an enterprise—only sales produce revenue.
Few enterprises can launch without some kind of financing from the outside. But there are many sources—venture capital is hardly the only way to start a company. How to attract and work with investors is one of the most important skills for any new enterprise.
Presentations & Communication
Ideas and execution plans can be flawless, but without effective presentation and communication success is impossible. How to persuade people to care and act is critical to success in almost any endeavor. There are proven techniques for communication and persuasion that can be learned by anyone.
Its been said social value and business success are mutually exclusive—that you have to choose between nonprofits for social value or for-profits for success. We emphatically disagree. Nonprofits need to find sustainable success and for-profits should be able to point to a social value in what they do.
Bureaucracy & Entrepreneurship
The entrepreneurial and administrative skillsets are in many ways opposite, and are often oppositional. But we live in a world where both exist and both are needed. The goal is to find ways to work constructively together.
Accounting and Operations
Upon arrival at business school, many students ask, “What subject is most important to my success in business?” Most experienced business people answer, “Accounting!” Anyone in an enterprise that involves activity and money needs to know three important things: how well have they done in a given period in the past? Where do things stand today? Where do they appear to be headed? Bookkeeping and accounting address these questions. The only way you can effectively manage a business is with good accounting systems and reports.
Whether you know it or not, people negotiate with you every day. Too many of the aspiring entrepreneurs are stunned to learn they will need to negotiate effectively for virtually everything they seek, because people on the other side are going to be relentlessly negotiating them. And if you don’t know it, the odds are someone is taking advantage of you. Unfamiliarity and inexperience with the negotiation is one of the greatest obstacles facing first time entrepreneurs.