#EntrepreneurChat – Is it time to shake up your business strategy?
The business environment around us is constantly changing. Successful organizations have to learn to adapt or face the prospect of their competitors ‘eating’ into their market share. The ability to navigate ‘new waters’ is important to all entrepreneurs – whether you are a sole trader or have 1,000 employees! In today’s article, Adeyinka shares steps aspiring entrepreneurs can utilise to ensure their businesses succeed in spite of a changing internal and external environment.
Let’s take a look at Burger King. Once ranked number two on the list of top fast food chains, it now finds itself number 5 in the top 15, according to Business Insider. In 2012, the top 15 fast food chains ranked in the nation had a combined $115 billion in sales. It may sound like this is a good thing for Burger King with sales of $8.4 billion and 7,231 locations right? The fact is that they are losing market share to Wendy’s, Starbucks and Subway which is reason for concern. Additionally, Burger King have Taco Bell in the number 6 spot nipping at their heels. So what has Burger King done? They are now one of the first fast food chains to come to market with turkey & veggie burgers – tapping into the health conscious and vegetarian consumer market. Like Burger King, every business, whether large or small needs to be able to recognize when it’s time to shake things up.
It is not the most intellectual of the species that survives; it is not the strongest that survives; but the species that survives is the one that is able best to adapt and adjust to the changing environment in which it finds itself.
Dr Leon C. Meggison misquoting Charles Darwin
The Entrepreneur’s Corner: Time Management for Busy Entrepreneurs
You’ve taken the plunge and started working on transforming your business from an idea to reality. Things are going well, customers are taking interest, new ideas for expansion but growth comes with its own pains. How do you keep up the pace? How do you grow your business and manage the responsibilities that growth entails? In today’s article, Adeyinka Ojo, a business consultant, shares some ideas to enable you deal with time pressures on your journey to success.
Entrepreneurs are a special breed. You have a 24/7 job. If you are like me, your mind rarely shifts from your business. In the first few weeks of starting my business, I discovered that there never seemed to be enough time in a day to get everything done! Surprisingly, I also realised, from talking to other entrepreneurs that I was not alone. I recently spoke with an entrepreneur in another country and marveled at the commonalities in how we work – which is pretty much non-stop.
Knowing that your job as a small business owner requires you to wear many hats and work long hours – some of my best ideas come into my head between 2:00 – 4:00 am! – you may ask yourself ‘How can I keep up with this pace and avoid burnout?’
Here are four tips that you can use to keep yourself on track.
Career Options for Life Science Graduates – Part II
In last week’s post, Emmanuel discussed several career options and pathways for life science graduates and for anyone interested in a career in the life sciences. In part I , the following areas were discussed; Teaching, Lecturing, Research, Transition to medicine, Business management and entrepreneurship and Sales. In part II, we will now conclude on other career options including non-traditional career routes that are open and might be of interest to life science graduates.
Graduate School (PhD & Professional Doctorate) – whilst a number of life science graduates are interested in transitioning to medical school, a larger number of life science graduates proceed into postgraduate studies. This might be studying for a MSc degree, Masters by way of research or Masters Philosophy (MRes or MPhil) or a PhD. There has been an increase in the numbers of graduates embarking on postgraduate studies in the life science subjects in the UK perhaps due to difficulties in finding jobs upon graduation or the hope of better job opportunities with a higher degree. To embark on postgraduate studies in the UK, a minimum of a 2.2 is required i.e a GPA of 2.5 – 3.0 (dependent on University). With a 2.1 (GPA 3-3.5) classification, life science graduates are able to apply directly for PhD studies in the UK and in other countries. More universities in the UK now offer professional doctorate degrees which are equivalent to a PhD but focuses on the context of the workplace or practice of the applicants. Graduate school in the UK and USA are slightly different in the structure and modalities (we will expand on this later on in the future). We do encourage graduates to consider postgraduate studies as a great option however not before exploring the range of opportunities available to them first! After all, not everyone in a great career or job in the life sciences is a masters or PhD holder.
Forensics – Ever watched CSI, Bones, Law and Order or other US or UK TV Crime Drama? If you have, you’ve probably imagined yourself as a forensic scientist or cool scientist, paleontologist or anthropologist of some sort. In our experiences dealing with prospective students interested in life science subjects we often find those interested in the area of forensics simply because of the television dramas. As scientists, we do welcome the interest created by such shows though we occasionally advise the young enthusiastic kids that life as a scientist is not usually or always as glamorous as the television dramas show. To embark on a career in forensics, a good degree in biomedical, biological or forensic science is a starting point – it’ll also help to study some chemical science or molecular biology during your degree. I (Emmanuel) remember interviewing for a role as a forensic scientist with the forensic science service (FSS) many years back and was presented with a very technical laboratory based practical alongside the formal interview. Thus, you will need good laboratory or technical skills to go with your degree.
Advisory and Consultancy – Do not be surprised about this, there are several advisory roles open to life science graduates globally. Several companies offer roles for Scientific Advisers, Medical Advisers, and Life Science Advisers. To be eligible for these posts, you will need a good honours degree (2.1 and above) with other skills such as good communication, analytical and presentation skills among others. Consultancy is also another area open to life science graduates and whist this is not a very common option for recent graduates, postgraduates (often PhD graduates) and experienced life science professionals work as consultants either on short term projects or in full time roles.
Scientific & Medical Communications – Life science graduate, not-interested in laboratory work but very capable when it comes to reading, analysis, interpretation, presentation and writing scientific or technical material? If yes, then a life in scientific or medical communications might just be the right career path for you. The terminologies for these roles are often interchangeable and sometimes these roles are also referred to in the same context as healthcare communications and medical writing. Many scientific organisations especially the biopharma sector contract some of the technical writing to medical communications firms who employ life science graduates to produce reports, study designs and writing of core scientific and general materials. This is a highly sought after career hence it is very competitive albeit with good remunerations. As usual you will be required to have a good honours degree and in some cases a postgraduate qualification and evidence of your ability to write including ability to design online materials which may or may not include blogging. Some Universities offer MSc degree programmes in Science Communication which is open to people of other disciplines which offers intensive training on different ways to communicate science and graduates from such degrees go on to practice in different environments including media, journalism and politics. For a good example of a MSc Science communication degree, click here
Recruitment – who is better at recruiting a science graduate than a science graduate? Working as a recruitment specialist or adviser for recruitment firms or other organisations that employ science graduates such as career departments at Universities and Colleges is also a good career path. Several friends have embarked on the journey into recruitment and have found it informative and interesting. working as a recruiter can be difficult for many reasons but it is also a great career as you get to interact with many job seekers as well as companies and imagine how much you learn about some of the clients and their products when you work as a recruiter (the science is never lost outside the lab!)
Government and Politics – surprised about this? Don’t be! Following our involvement with events run by the UK Biology professional scientific societies we became more aware of the possibility for scientists to work directly or in close association to government and politicians. In the UK for example, the biology societies have a designated representative in parliament who acts as a liaison or link between government and the respective societies. Also, members of parliament (senators or the like in other countries) have scientific advisors in their staff who can advise them on matters relating to science within their constituencies. In recent years, the Parliamentary Office of Science and Technology (POST) have offered fellowships with research councils, learned societies and charities to sponsor PhD students and Post-doctoral candidates for about three months to carry out parliamentary placements. This offers experience for the fellows to learn about politics and policies also creating opportunities to work closely with politicians and law makers.
Life Science Solicitors – with the rising interest in medical ethics and law and with increasing discourse in genetics, climate change, assisted suicide and genetic modifications (GM) this is another interesting option for life science graduates. This would require undertaking a Masters degree or PhD degree in Bioethics and Medical Law or Jurisprudence. To embark on a career in this area, an undergraduate degree at 2:1 or above is required in the life sciences or other subject areas such as social sciences, law or medicine among others.
Whilst we highlight a range of career paths open to life science graduates, this is by no means the end of it. With the range of skills developed by life science graduates, there are undoubtedly other areas graduates of life science disciplines have found themselves so do not despair if you have not found something on here for you. if after reading this article, you have identified a career path that interests you, we would encourage you not to hold back and to chase your dream career.
For further detailed advice on Life Science Career roles and challenges, look out for our career profiles pages from people who have had success transitioning from University to professional life. To contribute an article, please contact us on @AspProfHub
The Entrepreneur’s Corner – Graduate Rejects
When you think about the term ‘entrepreneur’, what comes to mind? Major business oligarchs? Wealthy business moguls? Well think again! The idea of entrepreneurship is no longer a forlorn and unachievable dream. In the United Kingdom, there is a major drive to embed entrepreneurship into University curricula. In today’s post, we had the pleasure of interviewing Derek and Keara Mafohla, founders of ‘Graduate Rejects’, a social enterprise with the aim of improving educational standards for young children in Zimbabwe.
APH: Can you tell us about your educational and professional background?
DM& KM: The founders of Graduate Rejects are siblings Derek and Kearabiloe Mafohla. Derek is currently an undergraduate student at the University of Greenwich studying Computer Science whilst Keara Mafohla is a final year student at the University of the West of England studying Biomedical Science.
Can you give an overview about your business or enterprise?
Initially we formed Graduate Rejects as a charity in November 2011 but in January 2013 we adopted the social enterprise model.
Photo Credit: Nelson Vinod Moses
When we began, we concentrated on a small community in Tshabalala, Bulawayo the second largest city in Zimbabwe. We noticed that there was little educational activity within the community which left children and young adults engaging in drinking and other activities that made no contribution to a successful future. We (Graduate Rejects) decided to donate books to local schools and libraries with the hope of developing and encouraging a reading culture within the community.
What was the inspiration behind your business?
Our love for children and knowledge of the poor education systems they were exposed to were our biggest inspiration. Some schools in Zimbabwe have outdated educational systems and infrastructure. The resulting impact is that children fall into a cycle of attending school for a minimum of 11 years but failing to study further or achieving good grades. We are of the belief that if we are able to encourage proper and more modern ways of studying, children who cannot afford a good education can adopt self-study techniques. Importantly, we embrace the importance of a holistic approach to meeting the educational needs of children.
How important has social media and networking been to your business?
Interestingly for the past year we have been trying to raise money to build a website for our enterprise. We greatly acknowledge the importance of social media as it has helped us promote our work. Twitter, Facebook and Instagram have been our social media platforms of choice since they are free and easy to set up. We engage with a lot of people whenever we write any posts but also we are constantly seeking to learn from others who are interested and willing to share with us.
What are the challenges, if any, you face?
We come from a politically volatile country and whatever form of business or charity you choose, you have to bear that in mind. Shipping costs for the books we donate has always been and remains our biggest challenge. We find that many people are willing to donate books to us but the costs to ship the books are often prohibitive. We are self-funded and that also presents its own challenges. We also think finding the right model for children and adults to get actively involved to further improve study is often tricky but we are dynamic and open to ideas on how to actualise this.
Have you made any mistakes and what lesson(s) did you learn?
Expecting things to work accordingly! It is important to remember that things do not always go to plan but to remember that obstacles do provide an opportunity for personal development and learning.
Finally, what advice would you give aspiring entrepreneurs?
In our experience so far, we suggest that if you are considering starting a business or social enterprise, keep a journal and document all your activities. This provides ‘fodder’ for reflection which is a useful learning tool. Finally, don’t give up when you are faced with challenges.
Please can you share your contact details
We can be reached on:
Facebook: Graduate Rejects Enterprise