Business starts with an idea

15:01, April 14, 2021

Students of GSEM learned how to transform an idea into a business model

Especially for the 3rd year students of the International Economic and Business programme, Irina Golovina, an entrepreneur, business consultant, franchise expert and tracker in the accelerator of the Sverdlovsk Venture Fund, came to the International Business Planning course with a practice-oriented master class. This event was held under the auspices of the project “Guide to Finance. Advice from UBRD "

Irina Golovina told the students how to create a business project, how to move from an idea to an implementation plan, and even the first financial results. Irina considered business as a general system with all important processes, showed how to structure and describe business processes. The speaker also shared her experience in creating startups and developing businesses in various fields.

«Young people are very actively involved in the process and it is clear that they are interested. Many are already thinking about their business projects. It is important for students to develop the thinking of an entrepreneur, as it allows them to look for solutions in many non-standard and difficult situations. Also, understanding the algorithm for starting a business removes unnecessary fears and illusions about starting their own business», - said Irina Golovina

Within the framework of the meeting, students generated ideas, identified a value proposition for the request of the target audience, created a business model and calculated the financial component of startups. Students developed projects in various fields from online educational projects to an ecological farm in the Urals, as well as come up with logos, slogans and creative banners to pitch their ideas to potential investors.

Students appreciated the interactive presentation of the material, and noted that the speaker explained many financial issues in an understandable language.

«It was very exciting to take a master class on entrepreneurship with the support of UBRD in the 3rd year. It is useful to get practical experience in creating and developing a business plan, advice where and to whom you can turn for help in entrepreneurship, as well as feedback on the invented project» - Ilya Smetanin.

«The event was very interesting! I especially liked the part about real business projects. It is always pleasant to learn how theoretical business skills may be used in practice» - Igor Chekhomov.