Sinéad O' Mahony
Course: MA by Research
Year of study: 2 of 2
College: Institute of Technology Tralee
Business name: Ómra Events
Sector: Event Management
Business idea: Event Management Services
Plans for September 2020:
I will be continuing to set the business up so that I will be able to work on opportunities that come my way down the line, on the side. I will be working on the business on the side/in my spare time over the course of the next few months. In September, I will get my tax return sorted and paid and I will be working on content for my social media channels. I have a list of tasks that would need to be completed before I could be fully operational (e.g., contracts, policies, website and insurance, etc.) so I plan to work my way through this list over the next few months and put each in place in a gradual manner.
Student Inc. Programme Highlights:
My highlights included learning about the importance of features and benefits and determining these for my own business, pitching, and making the pitch video which really pushed me to put my business out there – it pushed me in the best way possible and I was really delighted I had to do that in the end.
Any previous entrepreneurship experience before you joined Student Inc.?
I haven’t started any other business before this but I had completed a SYOB course for the same business in early 2020.
What connections did you make on the programme?
I have made connections with some absolutely amazing entrepreneurs with fantastic business ideas as well as extremely supportive mentors during my time on the Student Inc programme. The others part-taking in the programme have inspired me throughout and I really hope we all stay in touch and continue to support each other as it has been such a happy experience having such a supportive community to go on this journey with.
What advice would you give to someone thinking of applying to Student Inc.?
I would say that, as with most things, what you put In, you will get out. I have managed to get so much done in the three months we’ve had. There are aspects of what we have covered that I would probably not have thought of doing by myself, for example, the value proposition, the pitch, etc. If you have a business idea you want to explore, or if you have always wanted to set up a business but haven’t had the time/opportunity to yet, grab this opportunity and make the most of it. It is such an incredible opportunity to have three months to work on your business (during actual business hours!) so use it wisely and get stuck in straight away – it flies!
What was your greatest learning from the programme?
My greatest learning was doing the 5 year financial projections and working out how I will make this business work so that I am making a profit and paying myself a wage. You simply can’t rely on hoping for the best when the numbers are set out in front of you. Similarly, I would say getting used to pitching my business in a concise way, clearly specifying what I offer, has been hugely valuable and has taken more time than one would expect to perfect.