Think Enterprise Issue 41

READ INSIDE

COMMITED TO SUPPORTING OUR TROOPS IOEE SIGNS THE ARMED FORCES COVENANT

FOSTERING SUCCESSFUL CONNECTIONS

THE POWER OF COMMUNITY IN ENTERPRISE

CCBED SPEAK ABOUT FUTURE PLANS AND DELIVERY

FEATURE ARTICLE

LEARNING FROM YOUR HOBBIES

SARAH TROUTEN, IOEE CHIEF EXECUTIVE

Welcome to our September edition of Think Enterprise, with this month being synonymous with a return to education, this month we provide some insights as to how you can further develop your skills.

This month we hear from one of our long standing centres CCBED who have recently re-approved as an Academy and have great plans for supporting their learners. We also welcome a new international centre, Origin Training - based over in Bahrain and we look forward to supporting Origin and their learners in their enterprise journey.

We provide a recap on national employability day and highlight some of the exciting activities our centres and academies undertook to celebrate. We were delighted to attend a number of these and would like to thank everyone involved for their support on the day.

Active Listening is a key skill to develop as educators, mentors and business owners and on page 12 we provide some useful tips on developing this vital skill.

Finally we hear from IOEE Fellow, Valentina Lorenzon, who shares her insights on how taking on new hobbies can develop your wider skill set.

So that’s it from us here at IOEE, so sit yourself down with a cup of coffee and enjoy the sunshine with Think Enterprise!

CENTRE FOR CAPACITY BUILDING AND ENTERPRISE DEVELOPMENT, CONTINUE TO CHAMPION ENTERPRISE AND EMPLOYABILTIY

At the IOEE, we are proud to support a wide range of centres, delivering a variety of enterprise and employability qualifications to their learners.

CCBED, the Centre for Capacity Building and Enterprise Development, has recently reapproved as an IOEE academy, and are continuing to deliver employability qualifications to their learners. This is great news for students and established entrepreneurs alike, as it means that CCBED will continue to deliver high-quality enterprise education and training as an approved IOEE academy.

CCBED has been delivering enterprise education and training since 2015, and their aim is to provide students with the skills, knowledge, and confidence to start and grow their own businesses. They offer a range of courses and programmes, including workshops and short courses. These programmes cover a wide range of topics, including business planning, marketing, finance, and leadership.

With their reapproval as an IOEE academy, CCBED has demonstrated their commitment to excellence in enterprise education.

The IOEE is the UK’s only dedicated learning institute providing recognition, accreditation and qualifications in enterprise learning. The IOEE academy status, and programme recognition, is widely recognized as a mark of quality in the field of enterprise education. CCBED’s reapproval means that their programmes and courses have

education. They have decided to deliver a selection of SFEDI regulated qualifications.

In addition to their reapproval, CCBED has also announced plans to increase their delivery. They aim to deliver more courses and programmes, and to reach more students and entrepreneurs than ever before. This is great news for anyone looking to start or grow a business, as it means there will be more opportunities to access highquality enterprise education and training.

They recognize that entrepreneurs need to be able to make a living from their businesses, and that enterprise education and training should reflect this. To this end, CCBED is working to develop courses and programmes that focus on practical skills, such as marketing, planning and understanding business finances, that are essential for running a successful business.

CCBED have experience in delivering the Level 1 Award in Passport to Enterprise and Employment to a range of learners who wished to develop their employability skills. The Level 1 Award in Passport to Enterprise and Employment is a qualification that allows learners to learn new skills and develop existing skills, by providing them with new knowledge and asking them to reflect on their own practices. The qualification contains a range

of employment, self employment and personal development units, creating a well rounded enterprise qualification.

CCBED chose this qualification, so their learners could learn all of the foundations skills an enterprising person would need to begin their career in enterprise. Units CCBED have delivered include, developing an enterprise character, problem solving at work and understanding how to market your business.

CCBED’s commitment to enterprise education is commendable, and their plans for the future are exciting. Aspiring entrepreneurs and business owners can look forward to even more opportunities to develop their skills and knowledge, thanks to CCBED’s reapproval as an IOEE academy and their plans to increase delivery in Bristol and across the West of England.

If you are an educational organisation, and you want to learn more about IOEE academy status, programme recognition or delivering a SFEDI qualification, get in touch with us : IOEE Recognised - Institute of Enterprise and Entrepreneurs

Entrepreneurs need to be able to make a living from their businesses

S F E D I ® D I R EC T

SOCIAL MEDIA LEVEL 2 FUNDED QUALIFICATION FREE LEARNING MATERIALS

We are very pleased to announce the launch of new materials and content which is being made available at no charge to all SFEDI centres and IOEE Academies. The learning materials have been mapped against SFEDI Awards Level 2 Award in the Promotion of Products and Services Through Socal Media which currently has funding confirmed for this academic year.

The qualification is suitable for all learners looking to gain skills and knowledge in social media, whether they are going on to start a business or seeking employment.

You can find this workbook along with many other free resources within the SFEDI Awards hub or if you’d like to discuss your delivery in more detail please contact Jonathan.harper@sfedi.org.uk

www.sfediawards.co.uk/centre-hub

2023

Employability Day Recap

Employability Day 2023 took place on the 30th June, and provided an opportunity for employment support organisations and employers to celebrate all things employability. From skills development to employment offers, on the job training and personal development support for future employees, Employability Day provides employers and future employees with a day of reflection and support.

As part of Employability day 2023, the IOEE attended three local events. Firstly, we attended a Job Fair at Darlington’s Dolphin Centre, where we had the opportunity to engage with a some of our academies, such as Enterprise Made Simple and Darlington College. Both institutions were actively promoting the development of employability skills and exploring self-employment as a potential career option for potential learners. The second event we attended was a careers fair run by PeoplePlus in Middlesbrough. We had an insightful conversation with a careers coach from PeoplePlus about top employability skills and the diverse avenues available for individuals seeking skill development. The final event we attended was the RIFT Lunch and Learn. The event was designed as a networking opportunity, for start up owners and enterprising students. It was an inspiring experience as numerous success stories emerged from business owners.

Key Takeaways: The need for employability training is apparent, and employability day highlighted certain skills that are particularly important to employers. Focusing on skills such as communication skills,

digital literacy, customer service skills and problem solving skills could make candidates more successful in their job search.

Understanding your customer: this skill was highlighted as one of the top employability skills, due to the nature of the positions being offered to potential employees. At both employability fairs, there were many employers seeking customer service advisors, front of house staff, to interact with their customers and support them. Understanding your customers is one of the most important skills to learn, when entering a customer service role. Knowing who your customer is, what they need from your business and how they will access your business, will provide you with invaluable insights that could give you the competitive edge. In our Passport to Enterprise and Employment qualification, learners will have the opportunity to select the Understanding your customers unit, in which they will learn how to identify a customers needs and how to provide customer care. We have recently designed a fully comprehensive workbook, which provides the learner with the learning content and assessment activities that are required to pass the unit.

Digital Literacy: Another skill that is particularly important to have in todays job market, is digital literacy. Specifically understanding marketing or the use of social media or data analysis. There were a number of employers at the Darlington Job Fair seeking talented employees to work on their social media platforms. Understanding what social

media platforms are available to you, how to use them effectively and efficiently, and how that may lead to more sales, is an important skill to have in 2023. Many businesses are now focusing on their social media profiles, creating content taht appeals to their audience to gain more traction and make more sales. As a free marketing tool, there are no signs that businesses will stop using social media as their method for marketing. Learning which platform is best for the business you work for, and how to create content that appeals to your customer, is a very valuable skill to develop. If you are interested in providing social media training to your learners, we offer a couple of qualifications with a focus on social media.

Within our level 1 Award in Understanding Enterprise qualification, you will find the unit Principles of Social Media for Business Use, in which learners will develop their understanding of social media and how it can work within a business context. The unit focuses on creating engaging content, understanding which platforms may be right for your business and identifying trends on social media.

Our level 2 award in the Promotion of Products and Services Through Social Media provides learners with a more in depth approach to understanding the uses of social media, the importance of creating a social network and how creating engaging content could lead to more sales.

Communication Skills: One of the often overlooked skills, communication skills, are perhaps one of the most important whether you are working for an existing business or creating your own. The ability to communicate your ideas clearly, effectively and concisely is beyond valuable. Developing your communication skills could help you speak in a more direct manner, prepare more engaging presentations, identify the needs of your potential clients in a more efficient way as well as having positive effects in your personal life. Networking and communicating without customers, employers/ employees and supply chain are some of the most important elements of running or working in a business, and so developing your communication skills should be a priority when seeking employment.

Our level 1 Award in Passport to Enterprise and Employment qualification could be of use here. In this qualification, one of the most popular units, Communication Skills, allows learners to develop their communication skills through reflective activities and self-discovery. This unit allow learners to reflect on their own practices and then equips them with the knowledge needed to develop their methods of communication.

Engaging with this event has highlighted the increasing interest among job seekers in developing their skills and exploring self-employment opportunities. This reinforced the need for comprehensive skill-building programs and resources that empower individuals to take charge of their professional journeys, whether they work for themselves or an employer.

Furthermore, conversations with our academies underscored the importance of offering diverse pathways for skill development. Providing guidance on progression routes to further education or employment can significantly enhance an individual’s prospects and instil confidence in their abilities.

Lastly, the RIFT Lunch and Learn event demonstrated the power of networking and the impact of success stories on inspiring and motivating aspiring entrepreneurs. The IOEE recognizes the value of such events in fostering connections, sharing experiences, and creating a supportive environment for business owners.

We enjoyed engaging with our academies on Employability Day 2023, as well as engaging with employers in the area. The Employability Day events really highlighted the importance of skills development, diverse opportunities, and supportive networks in shaping successful career journeys. We look forward to what our academies plan for Employability Day 2024 and hope to attend many more events next year.

The Importance of Active Listening

Active listening is an important skill to have in any profession, especially if it revolves around working in a team. But what is active listening, and why is it so important?

Active listening is the ability to listen to a speaker, understand what it is they are saying and to reflect, then respond to what they are saying. Active listening goes beyond listening to what someone is actually saying. Active listening takes it a step further. It involves reading body language, listening to the little details and piecing together all of the sentences to find some potential hiddendetails. This is an especially important skill if you wish to be a team leader.

Why is active listening important? Active listening is important as it is a skill that can be used to build trust, develop relationships

and improve the efficiency and effectiveness of your team. If a member of your team is coming to you for advice or to provide you with support, it is up to you to listen to what they say and show that you understand what they are telling you. You need to show this person that you understand them, what they are saying and show you are proactive in finding an outcome / providing support. If you can actively listen and be proactive when communicating with your team, they will find comfort in confiding with you. Not only will active listening develop a sense of trust, it can help build stronger relationships. Whether with your team, new business partners or a customer, actively listening to someone can really make a difference when it comes to interacting with them. Showing that you are interested and care about what the speaker is saying

will allow them to be more open.

In the workplace it is important that things run smoothly and effectively. Your ability to listen to the people around you, and actually understand what they are doing, will help things run like clockwork. So how can active listening be beneficial in your career?

Well, active listening helps to reduce misunderstandings. When you listen to others, you get an understanding of what they are doing. Active listening takes it a step further and requires the listener to ask questions and be proactive to make sure the speaker is heard and understood. By asking questions, you are able to get all of the details you need to avoid any misunderstandings or confusion. A team leader that actively listens can assign new tasks, find more suitable work for their employees and assist their team if and when they need it.

Poor listening makes way for conflict, being unable to listen to what people have to say may irritate people and ultimately cause a breakdown

in relationships. Conflict in the workplace can damage productivity, efficiency and enjoyment so it is really important to listen to the team and be proactive in your response.

It is also important that you know, active listening doesn’t require you to constantly agree with your team or clients. Of course, there will be times when your active listening will result in a disagreement. By actively listening you may be able to pick up on those small details you may have missed before, and be able to ask more questions or disagree with statements.

Active listening is a skill, and a tool for you to use in your day to day interactions. Your active listening shouldn’t stop once you have left your workplace. You can use this skill wherever you are, interacting with a whole range of different people.

Active listening can make a great difference when it comes to first impressions too. Afterall you only have one chance to make a first impression, so why not make a good one!

When you are interacting with your clients or colleagues for the first time, there will be new

people to meet that you will be working with. It is important that you make a good first impression with these people and by actively listening to them, you will be able to pick up on smaller details about their personal lives, work lives or tasks they enjoy completing. You can then use this information to develop closer bonds with these people, assign tasks to your team and to ask the suitable team member for the best advice with tasks you are unsure of. They may even do the same back, because if you are known to actively listen to people, you come across as someone who cares and genuinely wants to find a solution.

When it comes to your clients, active listening will be crucial to the success of your business. Whether you’re a business owner, a mentor or a team leader, being able to actively listen to people will enable customers or clients to get the

product they actually need. This could lead to repeat custom which would benefit you in the long run, so it really does pay to go that extra mile and really listen to someone’s needs.

Retaining information, asking questions and understanding what you are being asked are all valuable skills that fall into active listening. Active listening shows that you are able to take in information and use what is being said to push forward with your work and maybe even take your work to another level.

Finally, your ability to actively listen helps you to prevent missing important information. As an active listener you can understand the whole message the speaker is trying to put across, with that you become more engaged and are able to absorb more details than before. Even as a leader it is important that you retain details that are crucial to your team as they may

require the same assistance you needed so long ago. When you are able to absorb information through conversation, you may develop the ability to anticipate future problems. Active listeners make sure they are correct in their understanding so they can gauge on whether the problem actually exists. Importantly, you’re allowing yourself to develop an entire sense of the problem and evaluate all the different aspects, this will enable you to detect problems on your own and tackle issues as they arise.

Active listening is an important skill for everyone to have, no matter where you are in your career and personal life. Being able to genuinely understand eachother, and provide support based on those little details is really important. In the workplace, it can make you stand out and really bring your team closer together, knowing there is someone who actively listens and cares about what is

being said.

Being aware of this skill is just the first step in improving your communication skills and personal presentation.

One role, where active listening is a crucial skill, is mentoring. You will need to use active listening skills each time you meet with a client to identify your client’s needs, understand the best way in which you can support them and understand how the business support you provide may affect the business you are supporting. By undertaking one of our mentoring qualifications you will be prompted to develop your active listening skills as well as learn the relevant knowledge and techniques that a mentor uses. To find out more about our online mentoring qualification, and how you can improve your active listening skills, head to our campus here: https://campus. ioee.uk/courses/award-inenterprise-mentoring/

Mentoring Showcase

We speak to Donna Bridgewater, owner of Bridgewater Photography, and Geoff Luxton, an experienced mentor about their experiences with the IOEE/UK Finance mentoring programme.

Over the last few years, the IOEE has been working closely with UKFinance, to provide small businesses across the UK with access to business mentoring. We have seen some amazing results come from this project and are proud to continue running the mentoring project again this year.

We recently spoke with a mentor and mentee who have been communicating for a while. We spoke to Donna Bridgewater, owner of Bridgewater Photography, and Geoff Luxton, an experienced mentor.

Donna set up Bridgewater Photography as a way to turn her passion into an income. It was important that Donna didn’t completely rely on the Photograpy business as her source of income, as it may have led to her falling out of love with the art.

In 2018 Bridgewater Photography was the Prince’s Trust Regional Enterprise winner for the West Midlands area, and the business has continued to grow ever since. Donna has experienced many highs and lows with her business, as does every business owner. Like many businesses across the world, Donna’s business was hit by the pandemic.

With social distancing in place, and gatherings

not allowed, Donna saw a significant drop in photography sessions. After speaking with Donna, we are pleased to hear that Bridgewater Photography is still running to this day.

Donna started the business, as a passionate photographer who had committed many years to studying the art of photography. After completing various teaching qualifications, Donna then went on to teach photography and teaching students with SEND.

Donna’s primary focus for her photography business is portraits and human-centred photography, but she has also created marketing material for various brands and content creators.

She sought out a mentor, feeling like it was just the right time to do so. Post-lockdown, Donna felt like she was starting up her business all over again. She told us that when you are running a business, it is all you. Keeping that rhythm going is quite challenging, and posts covid it was twice as hard. It was like you had to start up your business from scratch.

Post-lockdown, this idea of starting a business again is something we have heard quite often, from the business owners on the mentoring programme. As we emerged from lockdown, Donna decided to look for a mentor as she began

focusing on the business side of her photography business. She was matched with Geoff Luxton, an experienced mentor working at TSB, who explained the role of a mentor to us.

Geoff told us that a successful mentoring relationship is organic. A business mentor needs to listen to the business owner, understand their goals, ask them some open-ended questions and then push them to fully consider their answer, identify opportunities and set measurable goals. He went on to tell us about how mentors support their mentees to delve into their motivations. What do they want to get out of running a business? What do they want their lives to look like? What are they expecting will change and what do they want to stay the same? It is all about understanding what the business owner wants to achieve and supporting them to get there, all while maintaining that outside perspective.

We wanted to find out more about Geoff’s experience in this particular mentoring relationship. Geoff enjoyed the relaxed nature of the relationship, which enabled them both to explore what the business needed to continue, but also what Donna wanted to get out of running a business.

It was made clear, from quite early on in the relationship, that Donna set up the business out of a love for photography. In the enterprising world, we see so many people set up a business, based on their hobby or passions. But when this passion

doesn’t make them a lump sum of money and they don’t become the next Alan Sugar, their love for the activity vanishes.

This isn’t the case for Donna, who continues to love photography and her business. We are really glad to hear that Donna loves photography just as much as when she started the business and continues to experiment and practice her skill. We also love to hear that the business is developing and growing with each day, and we thank Geoff for providing Donna with valuable mentoring support.

It is great to hear that the mentoring programme has been valuable to Donna and her business and that Geoff has also benefited from learning some new skills and developing those existing skills he already had. Another mentoring relationship success story.

If you are interested in finding a mentor, and are a small business in the UK, find out more information on our site, and get in touch.

Mentoring - Institute of Enterprise and Entrepreneurs (ioee.org.uk)

Welcome to Origin Training Centre

The IOEE’s international growth continues in 2023 and we are proud to welcome Origin Training as an IOEE International Academy. Origin Training will be delivering employability qualifications within Bahrain and further afield.

Origin Training Centre has been recognized as a leading training institution in the Kingdom of Bahrain, offering a wide range of professional courses and qualifications. And now, with their new IOEE academy status, they start a new chapter offering SFEDI Ofqual regulated qualifications.

Origin Training Centre is now approved to deliver an array of SFEDI qualifications, including the Level 1 Award in Social Media for Business Use, Level 1 Certificate in Self Marketing and

Personal Enterprise, Level 1 Certificate in Gateway to Independent and Remote Working, and the Level 2 Award in the Promotion of Products and Services Through Social Media.

The Level 1 Award in Social Media for Business Use is perfect for anyone looking to enhance their digital marketing skills. In today’s technologically-connected world, social media has become a powerful tool for businesses to grow their customer base. This qualification will equip learners with the knowledge to navigate social media platforms effectively and utilise them effectively.

The Level 1 Certificate in Self Marketing and Personal Enterprise is all about empowering individuals to promote their talents and skills. This

qualification supports learners to find their confidence and realise their potential, whilst equipping them with essential skills to help them shine in the competitive job market or kick-start their entrepreneurial journey.

The Level 1 Certificate in Gateway to Independent and Remote Working focuses on the rise of remote work. This qualification is designed to equip learners with the skills needed to thrive in independent and remote work environments. Units within this qualification look at self-motivation, time management and productivity among other aspects.

Origin has also chosen to deliver the Level 2 Award in the Promotion of Products and Services Through Social Media. This qualification is geared toward those who want to take their social media marketing skills to the next level. Learners will explore advanced strategies for promoting products and services effectively, helping them stand out on various digital platforms.

Origin Training Centre’s international recognition as an IOEE academy brings a wealth of opportunities. Their learners will receive complimentary studying membership to the IOEE, which provides them with a range of resources, tools and benefits such as mentoring opportunities and supplementary e-learning.

We spoke with Murtadha at Origin Training Centre and he told us that Origin Training Centre ensures that

their courses are accessible and easy to understand. The aim is to create a supportive learning environment where individuals can grow.

Becoming an IOEE academy was the right decision when connecting with ‘distinguished local, regional and international professional and accreditation bodies.’ Murtadha told us that getting IOEE approval and being able to deliver the SFEDI qualifications was all about adding value to their learner’s experience.

Since coming on board, they have also had two of their own programmes recognsied by us, here at the IOEE. These two programmes focus on the subject of e-commerce and e-commerce management.

We wish Origin Training Centre every success as an IOEE academy and we cannot wait to check in with you later in the year, to hear all about your first few cohorts.

If you want to find out more about becoming an academy, delivering SFEDI qualifications, or having your own programmes recognised by the IOEE, please head to our website at ioee.org.uk and get in touch with a member of the team today!

JOIN THE IOEE. GET ACCESS TO E-LEARNING GROW YOUR BUSINESS. FIND A MENTOR. SHOW OFF YOUR ENTERPRISE

IOEE.UK/JOIN

E-LEARNING COURSES. BUSINESS. ENTERPRISE ABILITY.

The Power of Community in Business and Enterprise

In today’s hyper-connected world, the role of community, in fostering successful enterprise, has become increasingly important. Building a thriving business is no longer solely about profit margins and shareholder value; it is about creating a positive impact on society, engaging with local communities, adding value for your customers and providing sustainable employment opportunities. This article explores the influence of community on businesses, emphasising the benefits of community engagement, collaboration, and shared growth.

The Power of Community Engagement

One of the fundamental pillars of a successful enterprise is a sense of community. Businesses that actively participate in and contribute to the communities they serve are more likely to establish trust, loyalty, and long-term customer relationships, than those who do not engage with their communities. Engaging with local organisations, community events, and charitable initiatives not only enhance a company’s reputation but also create a positive environment for business growth.

Community engagement also provides valuable insights into customers’ needs, preferences, and challenges. By actively listening and understanding what the community is saying, businesses can tailor their products, services, and marketing strategies to meet local demands effectively. This, in turn, can lead to increased customer satisfaction, brand loyalty, and sustainable growth.

Collaboration for Shared Success

Successful enterprises recognise that collaboration with community stakeholders, such as other businesses, community initiatives and local governments, is essential for shared success. By fostering partnerships, businesses can tap into the collective expertise, resources, and networks that communities offer.

For example, partnering with educational institutions enables businesses to nurture a skilled and qualified workforce. By providing internships, apprenticeships and training programs, enterprises can support local talent development while benefiting from fresh perspectives and innovative ideas.

Collaboration with local governments and authorities also opens doors to new opportunities. By actively participating in economic development initiatives and policy discussions, businesses can influence decisions that affect their operations and the overall business environment. Moreover, collaborating with other businesses drives innovation and expands market reach.

Community as a Source of Employment

Successful enterprises recognise their responsibility as employers within their communities. By providing quality jobs and employment opportunities, businesses contribute to local economic growth, reduce unemployment rates, and enhance social well-being.

Creating a supportive work environment, offering fair wages, and providing

professional development opportunities are key factors in attracting and retaining talented individuals. This not only benefits the business itself but also helps uplift the entire local community

Moreover, enterprises can also contribute to the local economy by sourcing goods and services locally. By supporting local suppliers and businesses, they create a positive economic ripple effect, generating employment and income for the community.

Corporate Social Responsibility (CSR) and Sustainable Enterprise

A vital aspect of community-focused enterprise is the integration of corporate social responsibility (CSR) into business practices. CSR initiatives enable businesses to address social and environmental challenges, demonstrating their commitment to ethical business practices and sustainable development.

Engaging in CSR activities, such as environmental conservation, social welfare projects, or supporting marginalised communities, not only benefits the community but also enhances brand reputation and builds customer loyalty. Consumers increasingly value businesses that demonstrate social consciousness and contribute to a better world.

It is clear to see that building, nurturing and developing this sense of community has many benefits for businesses and their owners. Whether a business owner is

aiming to build customer loyalty, or provide employment opportunities for local workers, building a strong community is a great place to start. By actively participating in their communities, businesses can create a positive impact, build trust, and foster long-term relationships. Collaboration with local stakeholders amplifies resources, expertise, and opportunities. Prioritising community employment and investing in CSR initiatives contribute to economic growth, social well-being, and sustainable development.

Recognising and embracing the role of community in achieving success is not just a matter of ethics; it is a sound business strategy that drives growth, and secures returning custom.

Are you looking for a community of like minded business professionals? Are you thinking of joining a network of enterprising beings, and learning more about the world of enterprise and entrepreneurship? The IOEE has great membership options, with a range of benefits. From access to e-learning and online resources, to business plan templates and mentoring opportunities, joining the IOEE is a great step to developing your enterprising character.

Find out more about our membership benefits, and sign up today over on the IOEE website: Membership - Institute of Enterprise and Entrepreneurs (ioee.org.uk)

STARTING A BUSINESS IN 2023

Embarking on the journey of starting a business can be an exciting adventure filled with rewards, challenges and opportunities. If you’re considering starting a business, this article will provide you with some valuable insights and tips to set you up for success. We will explore the fundamental aspects of starting a business, that initial business idea, how to create a solid plan all the way through to ensuring customer satisfaction and business growth. Let’s dive in and discover the key steps to launching your own successful venture.

big, but start small. Starting a business isn’t a race, and while it may feel like you have to start up immediately to capitalise on the latest trend, thinking about your business idea is way more important. Take the time to identify your target market, understand your competitors, and outline your goals. Develop a clear vision. This will guide you through the potential complexities of the startup phase and ensure you lay a strong foundation for your business.

Legal Considerations:

Ideation and Planning:

Every successful business begins with a solid idea and thorough planning. Ideation, in digestible terms, is the process of coming up with that initial idea. It is sometimes referred to as brainstorming, conceptualising or creation. The key with this phase is to dream

People wince when the term ‘legal’ is mentioned, but it really isn’t as scary as it seems. Before launching your business, it is essential to ensure you comply with legal requirements. Dot your i’s and cross your t’s. Register your business with Companies House and choose an appropriate legal structure. Consider trademark registration

to protect your brand and your concept. Seeking professional advice will help you navigate these processes correctly.

Financing Your Venture:

Now we come to the nitty gritty of business. Determining your startup costs and exploring various financing options is crucial. From personal savings to loans, grants, or angel investors, weigh up the pros and cons of each funding opportunity to find the best fit for you and your business.

You could always create a comprehensive business plan to help you estimate costs and attract potential investors who believe in your vision. Your business plan really is your best friend, when starting up a business, so ensuring you write a good one is key.

Building a Strong Team:

Teamwork makes the dream work, as they say. Surround yourself with talented individuals who share your passion and vision. Having a good team around you really will make your business that much stronger. Hiring the right people, defining roles and responsibilities, and fostering a positive work culture are key to longterm success. Remember, a united team can overcome any obstacle thrown at you, so think carefully and

build up your dream team.

Marketing and Branding:

It seems there are more start up businesses now, than ever before. In a crowded marketplace, standing out from the crowd is essential. But make sure you are standing out for the right reasons. Not all press is good press, and so making sure you stand out for positive reasons should be a priority, when it comes to your marketing strategy. The strategy needs to be robust, creative, measurable and ultimately have a positive impact on your business. Every business will have a different goal, when it comes to their marketing strategy. Whether that is to create brand awareness, attract customers or drive sales.

In 2023, there are so many ways to market your business, and a few of them are free and readily available. You could use social media platforms, content marketing, and partnerships to build your brand identity and online presence.

When taking to social media, consistency and authenticity are key in establishing a strong market presence that resonates with your target audience. Procude content that your audience actually wants to see, and ensure you aren’t just posting to look busy. Your customers want to interact with a personable being, so

adding a bit of personality is a great way to build that rapport.

Embracing Technology:

In today’s tech-driven world, embracing the right tools and platforms can significantly enhance efficiency and productivity. Technology is ever changing, but it isn’t as scary as you amy think. Embrace the digital era. Utilize technology for tasks such as accounting, customer relationship management, and online marketing to gain a competitive edge. But remember to use it appropriately. Do not trust that the technology will always be right, and it will automatically do everything for you. You will need to interact with your business, and the technology is there to support you in your business journey.

Customer Focus and Feedback:

How many times have we heard the phrase ‘the customer is always right’? There is some truth in it. You want your customer to feel like they are getting what they want, and what they need. This doesn’t have to be in the form of a product or a service, it could just be better customer service than your competition. Prioritize exceptional customer service and actively seek feedback to ensure you are on the right track. Engage with your customers, listen to their needs, and adapt your offerings accordingly. Building longlasting relationships and providing value will keep your business growing.

or perish. Stay informed and agile by continuously updating your skills, following industry trends, and embracing change. Be open to feedback from customers and employees and make necessary adjustments to ensure your business stays relevant and competitive.

Starting a business in the UK in 2023 requires careful planning, attention to legal requirements, strategic marketing, and a customer-centred approach. We have mentioned a few fundamentals in this article that will help you create your business idea, and take that first step to starting your business. Remember, running a business is an ongoing journey of learning and adaptation. Stay committed, stay focused, and remember to continually learn. You can find a range of resources on the IOEE online campus, from online e-learning courses to business plan templates and so much more. If you want to find out more about our membership offer, and gaining access to the IOEE campus, head over to ioee.org.uk and get in touch today.

Continuous Learning and Adaptation:

The business landscape is ever-evolving, and continuous learning is crucial. Adapt

Learning from your hobbies: how you can acquire new skills while having fun

Written by Valentina Lorenzon

Valentina Lorenzon is a Fellow of the IOEE, and has consistently demonstrated an interest in education methods and how, as entrepreneurs, education often starts outside of the classroom. In this edition of Think Enterprise, we welcome another contribution from Valentina. This article discusses how engaging in our favourite hobbies can support our skill development.

A recent blog published by the London School of Economics focused on the hire, fire and then rehire phenomenon, which is becoming prevalent in the IT industry, and how this has led to the creation of ‘neo-psychological contracts, in which personal and business goals are mutually dependent, in a win-win situation’. As a result, the article suggests the adoption of a protean career approach, defined as career development led by the employees themselves based on their individual ambitions rather than the organisation. This allows them to take charge of their own progression and become ‘highly adaptable and learning-oriented. It goes without saying that this is relevant and advisable not only within the IT industry but, more widely, across all sectors as a way for employees to develop fulfilling careers and, at the same time, be prepared to navigate the challenges of the new world of work. In addition, this specific mindset is arguably equally important for entrepreneurs who, especially in the early days of their businesses, need to be equipped with multiple skills and take full ownership of their

individual development as well as that of their businesses and their teams.

How can we acquire all these skills?

However, due to various time, financial and logistical constraints that characterise entrepreneurial life, it is not always easy to acquire such a wide range of skills, especially when it comes to soft skills that are difficult to measure. In particular, in our hyperdynamic, noise-rich world, we are increasingly required to have strong behavioural competencies like, for example, focus, teamwork, problemsolving, attention to detail and story-telling but, in most cases, these are not the type of skills that we can learn solely through formal training and within a short amount of time. Unlike other more technical skill sets, they often require experiential learning and regular, repeated exposure to specific situations, so our working environment might not provide enough opportunities for us to hone these skills. In addition, as a result of our biases towards a traditional way of training, we often

underestimate the role that other aspects of our life, like hobbies and interests, could play in providing valuable lessons for our work and opportunities to apply these experiencebased skills.

Start looking at hobbies as learning opportunities.

Over the last few years, hobbies have been mentioned more and more often in connection with an individual’s general happiness and quality of life. Perhaps, because they have a proven positive effect on our minds and our development, especially if they challenge us and make us experience life in a different way. We are also increasingly aware of the beneficial impact that creative activities have on performance-related outcomes, and many entrepreneurs and organisations have realised the importance of encouraging creativity in the workplace as a way to improve well-being, morale and collaborative work. From a general perspective, the advantages of learning from hobbies are varied and range from stimulating thinking and increasing self-esteem to building new relationships and engaging in meaningful and fulfilling activities. In my opinion, one of the most important and often underestimated benefits of learning from our hobbies is that it helps us develop a beginner’s mindset.

I remember, for example, when I started to study Russian and I had to learn a new alphabet from scratch; even though it was initially highly frustrating due to the fact that I had no previous transferable language knowledge to help me, it turned out to be also highly rewarding because

entrepreneurs, having a beginner’s mindset means that we are open, curious and willing to embrace innovation and creativity, even if it entails questioning our current knowledge and certainties. In other words, we are comfortable when looking at things with fresh eyes, and we have the humility to admit that there is always something new to learn.

So which hobby should you take on?

In addition to the multiple general benefits of learning from your hobbies, each individual activity provides, as well as a unique set of skills that can be invaluable in today’s workplace. We often tend to underestimate how much knowledge can be transferred from one aspect of our life to another, and we keep our work and leisure time separate in a very

compartmentalised way; instead, we should consider what we can learn from our hobbies and how we can then apply it to our daily work. This does not mean that we should choose hobbies purely based on how useful they are for our professional development; the enjoyment and fun that they bring to our day should still be the main reason why we pick them. However, we should start thinking critically about the important role that they may play in our learning process. So, what are a few examples of skills that you can learn from a hobby?

Thinking logically and analytically

Activities like playing chess, puzzles and mind games require high levels of concentration, memory and attention to detail. They also help strengthen our ability to be patient and resilient to find a solution to a problem. In order to complete the challenge, we also need to think logically, analytically and strategically.

Tolerance, respect and curiosity

Travelling and experiencing different cultures is another powerful way to develop skills that are key for intercultural leadership and managing diverse teams. These activities help us develop a deeper understanding of other cultures and a mindset based on respect, openness and curiosity towards what is unknown and different.

Communication, collaboration and intercultural skills

Similarly, learning a language encourages higher levels of sociability and pushes us to develop our confidence, particularly when speaking with people we don’t know in a different language. This may also mean that many people find themselves outside of their comfort zone. Developing our communication skills through a holistic approach also fosters a flexible and collaborative approach, as well as the ability to work across different cultures and communication styles.

Handling stress

Having a known positive effect on the release of endorphins, learning to play an instrument can improve our ability to remain calm and handle stress even in difficult situations and under pressure. Learning how to play instruments also keeps the mind alert and assists us with our ability to predict certain situations and improvise on the spot.

Goal-setting, determination, teamwork

Learning to dance can not only bring a range of physical benefits like posture, fitness, elegance and expression (that might prove useful in certain professional contexts) but also help with soft skills like determination, the ability to set specific goals and persistence in pursuing these goals. Dance is also one of many activities in which building relationships with others is based on trust, non-verbal communication and understanding. It helps develop communication, handle situations outside our comfort zone, and can be a

source of useful insights into how to build rapport almost instantly.

Creativity, focus and time management

Any activity related to the arts can help develop patience, time management and attention to detail. It also helps us understand how to channel our creativity and transfer it to other situations. Adult colouring, for example, has made a comeback in recent years and due to the often extremely detailed drawings used, it may require precision, patience and focus while being a relaxing and reflective activity.

Teamwork and strategy

Those who have played paintball before will know that this activity involves developing good listening skills, the ability to work in a team as well as to provide and receive instructions and feedback. This is highly transferable to the world of work and entrepreneurship.

Activities such as paintball also challenge a person to develop the ability to formulate a strategy and make decisions quickly. Paintballing really is an entrepreneur’s playground. In one game alone, a person will have to use all of their ‘soft skills’ to emerge victorious.

Listening, flexibility and story-telling

Probably a less popular hobby, improv acting could be a great source of learning because it is a quick-paced activity that requires good listening skills and the ability to engage with the audience and adapt to their responses as well as to learn how to tell a story in an interesting way. This is a great option for those looking to develop their public speaking, pitching or networking skills.

How to build your unique skill profile

These are only a few examples of how each hobby can help us learn a new skill or deepen our knowledge of an existing one. We are spoilt for choice and have at our disposal dozens of different activities that can help us learn something new while being beneficial to our general well-being and personal growth. Hobbies are simple but powerful tools to develop a unique skill profile, express our identity within and outside the working environment, as well as enrich our portfolio of competencies. So, I would encourage everyone to look at what you do in your free time from a different perspective and appreciate the often-underestimated role that your hobbies can have in helping you become a better leader and better entrepreneur!

IOEE signs the Armed Forces Covenant

The Armed Forces Covenant is a promise from the nation that those who serve or have served in the armed forces, and their families, are treated fairly.

The IOEE decided that signing the Armed Forces Covenant was the right thing to do, to pledge our support for fairer treatment of those who served in the armed forces. We, the Institute of Enterprise and Entrepreneurs, will endeavour in our business dealings to uphold the key principles of the Armed Fores covenant, which are:

No member of the Armed Forces Community should face disadvantages in the provision of public or commercial services compared to another citizen. In some circumstances, special treatment may be appropriate, especially for the injured or bereaved.

At the IOEE, we firmly believe in equality and fairness, and by signing the Armed Forces Covenant, we are demonstrating our commitment to supporting the Armed Forces Community. We recognize the sacrifices made by those who serve or have served in the armed forces, as well as their families, and we want to ensure that they are

treated with the respect and consideration they deserve.

By signing the covenant, the IOEE pledges to uphold the key principles it encompasses. First and foremost, we are dedicated to ensuring that no member of the Armed Forces Community faces any disadvantage when it comes to accessing public or commercial services.

By signing the covenant, the IOEE pledges to never discriminate against a member of the armed forces. We firmly believe that everyone should have equal opportunities and access to the services they need, regardless of their military background.

We understand that certain circumstances may require special treatment, especially for those who have been injured or bereaved, and the IOEE will act according to these needs where appropriate and necessary. We recognize the unique challenges and hardships that some members of the Armed Forces Community may face, and we are committed to providing them with the additional support and assistance they may require.

By signing the Armed Forces Covenant, the IOEE aims

to create a welcoming and inclusive environment for all members of the Armed Forces Community. We will actively promote opportunities for veterans, service leavers, and their families, whether it be through training, education, or employment prospects. We believe that their skills, experiences, and dedication can greatly contribute to the business world and society as a whole.

In addition to supporting the Armed Forces Community, the IOEE will also work closely with relevant organizations and government bodies to ensure that the principles of the covenant are upheld at all times. We will collaborate with key stakeholders to raise awareness and advocate for fair treatment and equal opportunities for those who have served our country.

Fairness and equal access to training and education is key to the IOEE. By working with relevant supporting bodies, and by signing the Armed Forces Covenant, we are extending this access to education into the armed forces.

The IOEE’s decision to sign the Armed Forces Covenant is a testament to our values and our commitment to

inclusivity, equality and fairness. We stand proudly with the Armed Forces Community and will actively work towards creating a society where they are valued, supported, and treated with the respect they deserve.