From MBA to startup
Here is an exception. A collective of four - George Lee, Salim Rumjahn, King Cheung and Simon Leung - met while reading MBA at HKBU School of Business and, when they graduated in 2014, they started out their very own employer - Hong Kong Fire Services Co. Ltd., the primary local corporation in Hong Kong to offer an “all-in-one” hearth extinguisher rental services to households. We interviewed the four alumni to find out how they converted classroom collaboration into enterprise partnership. Turning an idea into a actual commercial enterprise It all started out with group initiatives. “The four of us were running in the equal group for path assignments and tasks since the first day of our MBA studies. There’s glaringly a sturdy rapport amongst us. And, we usually knew we ought to do some thing together to check out some of the commercial enterprise thoughts we had provide you with in magnificence,” says George. So sooner or later throughout the sector study in Xian, they simply sat down inside the lodge and determined to offer the business concept of hearth extinguisher apartment services a cross. George recalls, “Rather than making plans right down to the closing element, our gut instincts instructed us that we had got to sign up a agency first and exercise session the details alongside the manner.” And in order that they did, in just a few months’ time. With begin-ups, the chemistry among companions subjects a first-rate deal. It makes a decision whether the preliminary entrepreneurial spark may be taken ahead, growing into a promising and sustainable enterprise. “The reality that all of us come from distinctive fields and that we are able to leverage sources from George's fireplace provider system engineering agency and my virtual advertising consultancy facilitates create the synergy we want to start small and keep our charges low,” says Salim. While George is aware of about the industry, human beings and products, Salim facilitates build the internet site and social media channels for the employer, and the alternative companions, King and MBA in Hong Kong Simon, take care of growing sales techniques, photo-building and client family members of the commercial enterprise, given their knowledge in income and account management. Being the first-mover: the pros and cons Being the primary employer that gives subscription plans of hearth extinguisher condominium offerings mainly to nearby family clients, masking installation, inspection and substitute, no doubt, the crew’s “brainchild” taps right into a previously unexplored area of interest marketplace. But, is it smooth to be the primary-mover? According to the team, at the same time as maximum capability customers are aware of the need to install fire extinguishers at home for protection purpose, this kind of concept does now not routinely translate into action. Although the purchaser base is potentially massive, their new business idea does require a piece of schooling in order to thrive within the market. “Actually, for us, installation is just step one. Our enterprise concept is to ensure our circle of relatives customers know how to use fireplace extinguishers in the hour of need, and to educate them how to preserve the system properly,” George explains. Now, they promote their business in the main thru online marketing, roadshow and through phrase of mouth. Inspired by using MBA Programme Apart from bringing four of them collectively in the first region, notion from MBA programme has been a first-rate riding pressure for his or her startup. Courses on social media advertising, enterprise creativity and entrepreneurship, specifically, have ignited their entrepreneurial spirits and reshaped the manner they think of enterprise. King, whose bachelor’s degree is in psychology, says, “In a manner, the MBA programme has given me extra equipment to study the commercial enterprise international from a 3-dimensional perspective. And, it’s fun to begin a business.” For all of them, the insight received from MBA programme comes inside the shape of an intuition for spotting out commercial enterprise possibilities everywhere and a extraordinary mind-set toward entrepreneurship. As Salim stocks, “Early on, we concept of commercial enterprise from the point of view of capital, money comes first, but now we've modified the manner we take a look at it,” adding that, “Actually, it doesn’t take that much money to start a commercial enterprise; so long as you have got an awesome business idea, there are many approaches obtainable to make things work.”

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