New Venture Creation: Personal and Professional Development

Running head: NEW VENTURE CREATION
NEW VENTURE CREATION
Name of the Student
Author note

NEW VENTURE CREATION
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1. New venture creation is a module that has been of significant importance, perhaps
in the lives of all of the students who have been a part of the lectures and activities that have
been a part of this course. It is for this reason why this module has been one of the most
interesting and effective sessions in the course so far. It has not only helped me
professionally, but personally as well. Personally, this course has so far helped me in
developing my creative and strategic thinking abilities. This owes to the numerous lectures
about innovation and how to find opportunities in a given market, including coming up with
competitive advantage. This is simply not just a theoretical or practical knowledge, but also
has an element of wisdom attached to it. This is because of the fact that now when I look at
advertisements and marketing efforts, I do not just view them as creative pieces. I tend to
analyze through an advertisement the market and opportunities that a particular brand is
aiming to penetrate into and the objectives and potential deliverables of the brand.
The main thing that has to be noted about my personal development in this regard is
the fact that this practice of analyzing creative selling has immensely helped my critical
thinking and analyzing skills, and to some extent, has also developed my own persuasion
skills. This is because of the reason that I always seek to make sure that the main thing that I
do while looking at advertisements or other marketing efforts is to analyze what the brand is
trying to convey to whom, and how that communication or message could be more influential
or persuasive in nature.
Professionally too, New Venture Creation has been immensely helpful in making sure
that students get their professional development in marketing and entrepreneurship to good
extent. The lectures have progressed step by step, while also going at a proper pace for the
students to understand the theories and fundamentals related to marketing for a new venture
in a perfect sequence. The course provides for a perfect ground for the students to be able to

NEW VENTURE CREATION
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understand how exactly marketing for a new venture works and how successful ventures
become successful in the first place.
Professionally, the main thing that has to be noted is the fact that this course has
taught several terms and practices that are required for the purpose of making sure that
students get to know the ideal processes in the industry to the core. Apart from that, what
really helped me in developing as a professional in the field are the required readings in each
of the week’s learning materials. One of the most valuable readings that I have done in the
course so far is related to week 2, regarding how to know if a new business idea is good. It
has not only provided me with insights of which business ideas are actually perceived as
successful, but has also helped me in getting an idea about how investors sort the businesses
in which they should be investing, and how to effectively make sure that they fund a business
idea. This is an immensely helpful for an entrepreneur, as funding is the main resource that is
required to realize an innovative plan. Last but not the least, relating to the same topic,
lectures on how to effectively pitch an idea for a funding, and also on the various ways to get
a competitive advantage in the market have helped me to gather knowledge on how I should
be going about when the time comes to start up my own business. This is why it has
immensely helped me in my professional development.
2. There have been various guest lecturers that have been present to share their
experiences in the class, regarding marketing for an entering and creating new ventures.
These have been perfect sessions for improving the conscious development of the students in
terms of entrepreneurship. The best lectures arguably have been on gaining competitive
advantage, generating ideas, pitching, and branding and marketing in a new venture. Lectures
on gaining competitive advantage have taught us in how a brand could be able to make a
difference in the market, in a way that would be able to add value to the products of the
brand. This value and uniqueness is what creates an interest in the minds of the target