Program in Riga

September 28 - November 12, 2016

September 28, 17.00 - 20.00 / 1st Meeting: getting to know each other and a little bit on innovation

Participants will have the possibility to get to know each other by presenting their business ideas.

October 5, 17.00 - 20.00 / The Business Model: business modelling and strategic planning

Many companies are built based on some interesting or creative ideas. However, to establish business, significant investment of time and resources is needed, and this is a difficult stage to get through. Every company has its own unique products, skills and customers. But they all follow similar business rules, and managers search for the same answers:

  • Where do we earn money and where do we spend it?
  • Where shall we invest and where shall we save?
  • Which products shall we develop and for which customers and markets?
  • How do we organise own team, partners and ourselves?

The workshop will include a short overview of theory, several best practice examples, discussions about typical situations and practical work on participants’ business ideas. 

October 12, 18.00 - 21.00 / Marketing: strategy and positioning

We can find businesses, which are solely run, however this program focuses on working in teams. Participants must learn how to work in teams, communicate with team members, partners, and clients. This class will also cover roles and responsibilities of team members, personal SWOT analysis. Participants, who will not have their business idea will be included in other teams.

October 17, 18.00 - 21.00 / Mentoring Session 

October 19, 17.00 - 20.00 / Market Research: effective analysisThis workshop will focus on maximising gathering data whilst minimising the time it takes. The objective is to empower participants to select the best data gathering methods to support their decision-making when developing strategies and during their day-to-day business activities. The workshop is very interactive with participation in teams. Proven methods are discussed and participants are encouraged to challenge and modify the processes for their own specific markets.

October 26, 17.00 - 20.00 / Networking

When we have defined the product, its potential and the target audience, the next step is to start telling people around us about it. Establishing contacts and maintaining them is called networking. Often this process is taken for granted, but a lot of projects are delayed in their development or even not developed at all due to a shortage of networking skills.

During the lecture and seminar, we will learn and practice the following networking skills: approaching people we don‘t know, the short talk, talking about ourselves and building the first contact. We will cover the most common errors that spoil the first impression. We will continue our lecture and seminar with the skills needed after the first contact is made: how quickly to approach people after the first meeting, how long to wait for an answer, how much time to give a person to actually answer and when to remind them about yourself. Additionally, we will cover the basics of business etiquette, business negotiations and business correspondence.

November 2, 17.00 - 20.00 / From Motivation to Sales Results

The class is focused on understanding and enhancing motivation. Who am I? What am I capable of? How is self-motivation created? How to overcome failure?

This class will also address business etiquette - appropriate clothing, accessories, hygiene instruments. Additionally, presentation skills when speaking about oneself and your product. We will form the structure of the sales model, train phone marketing and how to overcome objections from clients, solve conflicts and close deals.

November 7, 18.00 - 21.00 / Mentoring Session 

November 9, 17.00 - 20.00 / Finance Management

Sound financial management is one of the key factors behind a successful business. Students studying to become entrepreneurs and managers need to understand the difference between accounting for tax purposes, management accounting and financial management. This is as important as understanding the purpose and benefits of reading a balance sheet, a profit and loss statement and a cash flow report.

A good way to obtain knowledge, understand when to use one or another financial document and make one’s own conclusions is learning via one’s own experience. This can be done by solving relatively simple exercises that are specially made for this purpose. You will have the opportunity to try this out. No calculators needed, no complicated math, not even a spreadsheet. While sometimes it might seem that doing macroeconomic calculations with millions and billions is more important, try simple ones and prove you understand the basics.

November 12, 10.00 - 15.00 / Final Day of the 1st Part: Business idea pitching at "Bear's Cove"

We will cover how to present business ideas, train pitching, prepare 7-minute presentations. Participants will present their ideas to the expert and investor panel and will be invited to comment on fellow participant presentations.