17 Mar 2017

CEMSies sharing their experience with running own business

Dear CEMSies,

we are glad that our 2nd CEMS Alumni professional event this time related to Entrepreneurship attracted a wider audience of both CEMS students and alumni.

The event that took place on 16th March 2017. We got three speakers, who shared their stories and experience from running their own businesses.

It was highly inspirational to learn about different business concepts varying as much as: photo-voltaic distribution, VIP travel agency, pet food, fresh organic food, young coconuts and running courses for women. Below you can find a few key notes from the evening.

Key messages for new entrepreneurs: 

  • There are thousands of ideas, only the execution makes the difference
  • Consider all three parts: IDEA - RELATIONSHIPS - SYSTEM (in business and also in life)
  • Don't try to reinvent the wheel, get inspiration the new trends, from abroad 
  • Consult with a senior expert, pay for specialists' advice 
  • Prepare a higher budget 
  • Do the things professionally since the beginning
  • Focus on people, don't try to do everything on your own
  • Be yourself, honest and authentic :-)

Mindset change from a corporate world to own business:
  • In your own business: You are the work. Work doesn't come, you need to create it.  
  • Corporate systems and processes work in own business only after reaching a certain size 
  • Use the great opportunity in corporations to learn from senior colleagues. Build your network

Key challenge as seen by all speakers: 

  • People - i.e. finding the right business partner, co-worker or employee. Running a business with friend can be very tricky, though can work, if everyone is completely open, honest and able to make a difference between friendship and business relationship

We would like to thank to all speakers as well as to all participants of the this event.  

We are looking forward to seeing you on our next professional event that take place on 29th May 2017 this time related to the the topic Burnout and how to avoid it.  

Kind regards from the CEMS Alumni Board,

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