After working in banking for nine years, Hugo Santos decided to begin an MBA to gain new skills.
Despite coming from a financial background, he is an active member of Manchester Business School's Entrepreneurship Club. Hugo explains the insight and the industries that facilitate becoming an entrepreneur.
What are your club’s main aims this year?
Our club has three priorities this year:
The first is to bring guest speakers who can share their experiences and inspire the group. The second is to keep members informed about relevant events, such as conferences, speakers and competitions. Finally – to become a place for the improvement of ideas, where members can share their thoughts in a safe environment, knowing that the group will help them by sharing their own experiences [too].
Who was the most exciting speaker you had this year?
We had Glyn Powditch, CTO and co-founder of Dream Agility and an MBS alumnus. He not only shared his business experiences, but showed how it is possible to be an entrepreneur without giving up a regular job, and introduced some of the tax benefits of investing in a new company in the UK, with the SEIS (Seed Enterprise Investment Scheme).
Why did you decide to begin an MBA program?
All my work experience was in the same company – nine years in banking, and even thought it was a good job, I knew I did not want to do it forever. I was looking for new challenges, to learn about a new companies, markets or industries, and the MBA is good for supporting a career change.
What is the key to entrepreneurial success?
I believe that an entrepreneur needs to aim to solve a problem, not create a product without a target audience in mind. And of course, be passionate about your idea – that will keep you motivated during the journey, and [be] resilient – handle the challenges and [do] not give up.
What area of business do you think is best to start-up as an MBA entrepreneur at the moment?
With the growing usage of smartphones, businesses targeting mobiles are very attractive at the moment. But there are opportunities everywhere, and the best area to start your business is where you identify a problem waiting to be solved, and preferably in an area that you know well, and are interested in.