The word ‘Entrepreneurship’ has never resonated much with me. I have always pictured myself as that person who goes on to work for big noble firms,  continuing with and improving what others have already started, and finding fullfilment and purposeness through that.. But creating something new and doing startups? Not so much. Although I have a feeling that this course will change my viewpoint…

One negative perception that I’ve had of entrepreneurship is that people go into it almost solely because of the fame and money. However, having read some of this course’s articles (i.e. Thomas Oppong, ‘Don’t Just Start a Business, Solve A Problem’) and after today’s lecture about Idea Generation, I am starting to get a different perception. Sure enough, I still think money accounts for a big part of all the reasons people become entrepreneurs, but I have also come to realize that what many entrepreneurs actually want to do is to make the world a more efficient (and in most cases better) place through solving recurrent problems in various areas. I believe that the best ideas and creations must come from those who foremostly just want to solve a problem, not triggered by any other factors such as money or fame. Because, at the end of the day, doing something out of one’s passion, belief and self-initiated purpose is what creates meaning. And meaning is what can truly create an endless drive that is essential for success.

Another misconception I’ve had about entrepeneurship is that, the idea and the product all have to be really big, or at least become that really quickly. Maybe it’s because that majority of the time, small startups don’t get as much attention as the ones that have become very big and successful. Or that I don’t pay enough attention to them… But after today’s lecture, I strangely got very excited just by knowing that you should/can start small and find a solution to a problem that serves “only” a smaller (core) group of people. It actually makes a lot of sense – one step at a time, right? And you don’t have to go very drastic with the product – small changes and improvements suffice 🙂 Next time, I will no longer be dismissive about ideas that come to my mind. I will get on with it and think, ‘who else can benefit from this idea?’ and ‘how cna I take this one step further?’

So, what’s upcoming now is to generate a good idea sketch. Good to learn that brainstorming from scratch might not really help. However, Idea Generation is just the beginning. I read somehwere that a sound business plan and execution are just as important, if not more. So, with that said – I am looking forward to the upcoming lectures!

/Yuwei (Yuwzhng), Team Dreamgineering

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this post is designed to function as a gateway for all future work, ideas, and thoughts of the Group “Dreamgineering” during the Course “ME2603 Entrepreneurship”.

Members are: #Linpeter, #Danny Huang, #Yuwzhng, #Raquel Calles, #L.Boldin.

Our first meeting took place on Friday, 5/9/14, during which we discussed suggestions for a group name, upcoming assignments of the course, possible visits to certain events dealing with Entrepreneurship and our further course of action regarding the next 2 months.

We will keep you updated.

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Okay, this summer I took a minimal step towards preparing myself for the entrepreneurship course at KTH during this fall: I decided to listen to a Swedish podcast about entrepreneurship.

This was a motivational factor for me, it got me going and discussions at the dinner table, at the barbeque and at the beach got more intense and ideas started to sprout. This was not always greeted with enthusiasm; therefore I chose to mix my energy and thoughts about entrepreneurship with exercise, both in the way of cycling and running. But I always included this podcast-series.

I would like to share the essence of these podcasts, because they are rather lengthy and the hostesses often wander off in their thoughts. The fact that these podcasts are in Swedish makes in inaccessible for some of the foreign students taking this course and so it seemed like a valid idea to grab the good stuff and write about it. For those who would rather listen to it themselves can find the link below:

I would like to start with sharing a paraphrased quote from this podcast, which is the first thing that comes to mind when I hear the word ‘entrepreneurship’:

‘Entrepreneurship is not only working with something which you wish would exist, but also, that you want to work with.’

I believe that this quote is especially important to the students participating in this course, and the projects that we are about to embark on – what is missing in your life, can you build a business around that and do you want to work in that business or industry?

Back to the podcast, hosted by two women has found their calling. Sophia, one of these women, works with a startup that books complete vacations; this includes flights, transfers and hotel. What is special about this business is that it is heavily reliant on information: you can specify what type of weather or temperature you desire, how your budget looks like and such – and this serves as a basis for recommended locations and hotels that would match your wants and needs. Of course there is also the possibility to just brows through different destinations.

One obvious question for Sophia and her startup is where to start and where to focus: how will her clientele book their flights, will they come with pre booked tickets and will they need complementary information – perhaps guidance is what will be the most demanding and at the same time the least profitable?

In this episode Sophia has received feedback from a number of Facebook groups where she has sought feedback on her idea (this is also an important note for when we wish to seek feedback on our own ideas!). At first glance there is inconsistency in the feedback. Instead of going into detail, let me just state that the inconsistency is priceless and provides Sophia with a new split to analyze her company, the direction they are taking and how the clienteles psyche work.

With this feedback in her baggage, and after discussions with her business advisor, she decides to change direction of her project – she pivots.

Now this is a word that we are going to hear, and use and get quite sick of from time to time. This is self-explanatory in the context, because it is to turn around your/its own axis. And that is just that: to turn around and change direction.

Okay, so this is something we need to embrace, and use to its full potential. Because, like it or not, the question of pivoting is something we need to ask ourselves whenever there is the slightest bump in the road. And hopefully, just hopefully, we can tweak our idea, to pivot our business, in order for it to align with something we want to work with and not simply something that we would wish to see in our lives.

I’ll follow up with further posts about the issues, laughs and breakthroughs presented in this podcast as the course continues, hope this has been of some value!

BR Ludwig

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Due to many questions I have received,  and based on few requests,  I have started this platform for you. Please sign up and start to blog your activities. How?

1.Each team member will blog individually and tag with group name.

2.If you do not have a group, until you have blog individually. As soon as you join a group, blog posts after you joined to a group should be tagged with group name.

3. Topics are already provided to you. You can also blog about lectures, guests, anything you find relevant to our lecture.

4. Please comment, discuss with your friends but everything should be in constructive manner.


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