On October 16th, in the UTSC Library Makerspace (a free resource for staff, students, and faculty at the school), The Hub at UTSC held a start-up preparation event as part of its series of events leading up to the Pitch Competition!
Hub mentor, Luki Danu discussed different types of entrepreneurs (intrapreneur, side-preneur, freelancers), emphasizing that you should avoid becoming a “want-repreneur” – someone with a great idea that never takes action to make the dream happen. Luki gave tips on how to find a niche and make your product/service stand out from the competition. He really focused on the cultivation and refinement of entrepreneurial ideas and how to form those ideas into a concise business pitch.
The most important of these tips is that feedback is essential, so make sure you run it by as many people as possible! And don’t forget that mentors and peers at The Hub more than happy to listen to your ideas and give feedback on anything pertaining to your entrepreneurial ambitions!
Gray Graffam, The Hub’s Director, added that success is not an objective concept, as everyone has their own goals, and success is just a matter of reaching them. Gray also shared a great method for narrowing down a target market by imagining a person, giving them both physical and personal traits, and then finding out how many people like that are actually out there to buy your service – a research technique known as Persona Research.
A huge and somewhat tricky part of all this is research, fortunately the UofT Library is here to help. Sarah Shuja, the UTSC Entrepreneurial Resources Librarian, gave a brief explanation of what the library offers, including a seminar series which teaches how to access and evaluate industry reports, databases, and more, while adding to your co-curricular record.
Once again, food was provided and there was an excellent opportunity for mingling and networking! There was such a wide range of people and teams to collaborate with. Ideas ranged from the most useful and fashionable backpack to affordable cannabis oil to music therapy and anything in between!
Our next event is on Tuesday, October 30rd, and will include a makerspace orientation required to utilise the facilities! Be sure to check out our upcoming events and don’t forget to submit the required materials by November 1st to part-take in the main event, the Pitch Competition on November 10th!
— story by Amanda Taylor, Social Media Specialist, The Hub