Enterprise Lecture 3: Value-What are you worth?

• Check documentary-' a century of sell'

Whats the value of your creativity?

• Drucker (1985)- argued that innovation is the tool of entrepreneurship. In addition, both innovation and entrepreneurship demand creativity. Creativity is a process by which culture is changed. New songs, new ideas, new machines are what creativity is about
• Mihaly (1997)- Creativity is the ability to made or otherwise bring into existences something new, whether new solution to a problem a new method or device, or a new artistic object or form. Creativity is the act of seeing things that everyone around us sees while making us sees while making connections that no one else has made

Philip Kotler- book in marketing

C-creating
C-communicating
D-Declining
V-Value
T-To a target market
P-For a Profit


Insight- Maslow's hierarchy of need



Where is the money?

Greatest human needs= greatest market potential

• food industry
• housing
• utilities
• Medicine
• Transport
• Construction
• Insurances
• Water
• New Technology

Reduced human needs= Lower market potential

• Organic Farming
• Holidays
• Home insulation
• health spas
• Luxury sports car
• conservation
• religion
• swimming pools
• alternative technologies

Where does the money go??

A Value proposition



E.g BBC Mission and Values


Our Mission- to enrich people's lives with programmes and services that inform, educate and entertain.

Our Vision- To be the most creative orginisation in the world

Our Values- Trust is the foundation of the BBC. we are independent, impartial and honest. Audiences are at the heart of everything we do....

Enterprise Lecture 2: Ideas and Opportunities

Ideas are not necessarily the same as opportunities

So, how do you translate ideas into opportunities

Opportunity:

-Environmental factors merge
-The right conditions
-The right place the right time

The wrong time?

P-Politicians ( could not see any benefit)
E-Economics ( were fragmented)
S-Society has no need
T-Technology too primitive


Opportunity =

Political Changes
Economic Changes
Technological Changes
Social Changes

Economical Changes- Aware?
Do you have an informed opinion on it?
Read a broadsheet newspaper once a week?

Political Changes- Politics are local, national and international
Trade laws. Tax breaks, Human right legislation

Technological Changes- aware?
Do you know about the latest thinking or just what you see in the shop
WIRE, the Economist, The Guardian

Social Changes- Do you know what is affecting everyone or just what effect you?
Work-life balance
Eco-aware?
Debt recovery
Grow you own
Ageism

What kind of creative are you?

Evolutionary Vs. Revolutionary
Manager Vs. Opportunist
Cautious Vs. Risk Taker

- understanding you approach
-get together with someone with the opposite trade?



What is Creative Entrepreneur?

1- Owner Entrepreneur- Interior Design
- Project Manager
- Coordinator
- Collaborator

2- Owner Manager- Creative with assistant
- Small practice of creatives
- Cooperative
-Retail

2- Owner Worker- Artist
- Craft person
-1 man band

Where do opportunities come from?

• Trends
• Technical Development
• Political Change
• Economic boom or slump
• Human need
• Problems
• Research

Where does the creative fit it?

• Project Management
• Know who to find the right people
• know where to source stuff
• Can work with a team
• Gets along with all kinds of people
• optimistic
• Communicates well

Project Management Skills

1. Define the problem
2. Build confidence
3. Problem solving
4. Risk analysis
5. Physics resources
6. Planning
7. Human Resource
8. Quality control

= COMMUNICATION

How do I know if its a good opportunity?

Look at your competitors

• How many are there?
• How well are they doing?
• Why do they do well?
• What could you improve upon?

Enterprise Lecture 1: How to get yourself 'out there'

Design Council: Government in conjunction with designers. Keep track of the design industry in the UK. they also keep stats on Designers/ designs.

87% of design businesses employ less than 10 people

16% of design companies are in the North of England

Only 23 % of design companies are in London

57% of design companies say they collaborate with other companies or practitioners on client briefs

28% of designers are free-lance.

What is marketing?- 'The management process responsible for identifying, anticipating and satisfying customers'
Marketing roles:

1 Identify customer needs to develop products
2. Develop pricing strategies
3 Promote products to a target market
4 Identify distribution networks
5 Add Value to your product through customers benefits
6 Monitor performance of the products

( this is case...I , as a graphic designer, am the product? )

Identifying Customer needs to develop product.



Add Value

For example, Amazon.co.uk

they added extra functions on the website to add value to their products

-recommending other books, look inside, rate and review, bundles, etc



Value Proposition



tips for value proposition
- make it short
-be specific
-use your customers language
-Pass the 'gut feeling' test



Basic Principles of Marketing:

Product
-the service you offer
-the work you produce
-your creative input

Price
-relative pricing level
-daily rate
-royalty
-free

Place
- the best location to sell it
-sales environment
-services you offer

Promote
-marketing methods
-branding
-value proposition