Thursday, 12 September 2013

Innovation and Entrepreneurship Camp Reflections by Johanna Lim Ziyun

-3 things that I have learnt from the EE Camp.
1) I learnt that to start a business, you need to know the trend in the market and the 4Ps (Price, Product, Promotion and Place) as this is important in order for you to make profits and at the same time, know your customer's needs. 

2) The second thing I have learnt is teamwork. No matter what happens, we have to stick as a team. Like the elevator pitch competition, before that was the preparation and it was a little chaotic but I had fun. I finally understood the meaning of teamwork, working together. It is not just one solo job but everyone counts.

3) The third and final thing I learnt is that it takes time to start up a business and to get it on the market. You have to choose the right product and find the correct target audience. It also takes a lot of effort and determination to continue the business, the going may get tough but we have to persevere until it is over. 

-2 experiences that I have gained from the EE Camp.
1) It was from the Carousell talk, at a young age (around 20 to 22 years), they had already started up a lucrative business. Sui Rui sacrificed his masters degree and Marcus sacrificed his job at Oracle. The experience shared by them left me a deep impression of business. In life, you have to make sacrifices for the things you want to achieve. 

2) The other experience would be the Foodlingo talk. The presenter, Wei Ting, worked at a food business when she was Primary 2. She 'upgraded' herself to working at a factory when she was Secondary 1. She had to juggle between school and the business. In the end, she had 3 food ventures and is planning to set up a cafe on her own in time to come! I believe that she has given me the will and encouragement to become an entrepreneur. 

-1 lesson that I can apply towards the upcoming IE Bazaar.
The lesson that I can apply towards the upcoming IE Bazaar would be that in business, there are a lot of factors to consider and we have to take risks, although the risks may be high, if we have a dream, we should just go for it! Apart from that, for the upcoming IE Bazaar, I will plan the costs and market the item or service that we are going to sell. Marketing is important as you will be able to attract customers and gain more profits. 

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