In today’s COMM 101 class, we had the opportunity to interact with three Sauder Alumni: Paul Davidescu (Tangoo), Paul Gill (Naked Coconuts), and Jennifer Martin (Sip Soda).
The applicability of COMM 101’s course content was heavily emphasised by the Sauder Alumni. For example, Paul Gill mentioned that he used the PEST analysis to determine whether or not it would be advantageous to enter the US market. The PEST analysis enabled him to become aware of the political issues he would face with his products as he sources his supply of coconut oil from the Philippines–he would have to go through many security checks and be approved by the FDA. Similarly, Jennifer Martin stressed the importance of maintaining a professional relationship with your supplier. To not be deceived by them and to know when their help is not necessary, which would enable you to reduce your cost of production. Paul Davidescu encompassed the concept of passion over money. He currently does not have a proper revenue stream from Tangoo, yet he still strives to improve it because he is passionate about it, not because of money he could earn.
Today’s class has completely changed my perceptions on entrepreneurship. I have realised that I currently do not have the desire to become an entrepreneur not because I lack the intention, but because I have not found that special something that I feel the most passionate for. Although it may take several years for me to realise where my passion lies in, I look forward to discovering it in the future.
Image sources:
http://www.sipsoda.com
https://tangoo.ca
http://www.nakedcoconuts.com