Why Challenge Studio?
You’re probably wondering why this course is called Challenge Studio. It’s because, in this course, you’ll work on development challenges in a practical way, like in a workroom or a studio. But why is this important for you to learn as a student?
In our ever-changing world, where new technologies are constantly being introduced, and things evolve rapidly, knowing how to identify needs, problems, or challenges around you and having the skills to address them is a competitive professional and personal advantage.
In Challenge Studio, our aim is to make you a change maker and problem solver who goes beyond the classroom and is equipped with the skills to innovate, adapt, create, and be resilient. With what you’ll learn in Challenge Studio, you’ll be able to spot opportunities from challenges in the world, solve real-world problems, and contribute meaningfully to society.
Through this course, you’ll build or improve your creative, critical thinking, and communication skills, all essential for you to succeed in any career path you choose. Whether you intend to run your own business, lead innovative projects, or succeed in an established business, the skills you’ll learn in Challenge Studio will provide a foundation to hone your skills in turning challenges into opportunities and ideas into impactful solutions. This way, you don’t only enhance your career prospects, but you also learn how to be a leader and change maker.
To successfully complete this course, we’ll introduce you to what it means to think and build like an entrepreneur. Think of this as an introduction to entrepreneurship and venture building.
Principles for Challenge Studio
In this course, there are five principles that will be repeatedly mentioned in almost every lesson. These principles are not just something to read. They are your guide to success in Challenge Studio and can be applied to different aspects of your life as well. As you read them, make them a part of how you think and act as you work on your solutions. The five principles are:
- Love the Problem, Not the Solution.
- Done is Better than Perfect.
- Learn and Iterate.
- Entrepreneurship is a Team Sport.
- Fail Fast; Fail Forward.
Let’s explore each principle:
Love the Problem, Not the Solution
Focus on understanding the problem deeply before jumping into solutions. Sometimes, the problem itself changes, or there might be better solutions than the initial idea.
You may have started this course with a problem that truly matters to you. Keep that problem at the center of your focus throughout the entire journey. When you start building a solution for this problem, you might be tempted by the process of building to fixate on what the solution looks like or the effort you’ve invested in bringing your solution to life. When that happens, remember not to let that distract you from the problem. Your solution may go through multiple changes, but what should remain unwavering is your dedication to the initial problem and the people affected by it. By prioritizing the core challenge you aim to address, rather than clinging to a specific solution, you open yourself up to curiosity. This mindset encourages you to delve deeper into the root cause and gain a better understanding of the problem. By doing so, you’ll have even more innovative, creative, and effective solutions to the problem you’ve identified.
Done is Better than Perfect
Aim for progress over perfection. It's important to keep moving forward and refining your ideas rather than waiting for everything to be flawless before taking action.
Picture this: you're really hungry and want something to eat. Would you wait to cook a five-course meal, or would you make 2-minute instant noodles with a boiled egg? Similarly, when building innovative solutions, speed matters. Note that speed doesn't mean sacrificing quality. Just because you're hungry doesn't mean you'd eat paper from your notebook. The goal is to minimize delays, overcome perfectionism, and prioritize what's most important. You can always come back later to improve over time. Get your solution out into the world quickly, gather feedback, and iterate over time.
Learn and Iterate
Embrace a cycle of learning and improvement. Continuously gather feedback, adapt, and refine your approach based on what you learn along the way.
When delving into entrepreneurship, embracing the principle of learning and iterating is essential. You should always be open to feedback, tweak your strategies, and improve based on what you learn along the way. This not only helps reduce risks with your startup but also keeps you flexible in a constantly changing market. By constantly learning and making things better, you can upgrade your products or services, spot new opportunities, and get creative with your ideas. Plus, it's all about being resilient, learning from setbacks, and staying relevant in a competitive world. So, don't be afraid to keep refining your approach. It's all part of the journey towards building something awesome!
Entrepreneurship is a Team Sport
Collaboration and teamwork are essential. Success often comes from leveraging diverse perspectives, skills, and experiences within a team.
You’ve probably heard the saying “two heads are better than one” or “if you want to go fast, go alone; if you want to go far, go together”. Working with others is such a crucial part of entrepreneurship because it means you will build and collaborate with people who have diverse experiences, skills, strengths, and backgrounds that could complement and enhance your product. When you have an effective group of people working towards a shared goal, and each person contributes their skills and expertise, you will have a more successful venture. While you could still have a successful venture if you did this alone, it would definitely be a lot more overwhelming.
Fail Fast; Fail Forward
Don't be afraid to fail. View failures as opportunities for growth and learning. The key is to fail quickly, learn from mistakes, and use that knowledge to propel yourself forward.
Failure is a part of life and entrepreneurship. When things don't go as planned, use the experience to gather insights, adjust strategies, and move forward with improved knowledge. For example, have you ever received your grades for a course and realized it was lower than you expected? So might consider this failing. But what did you do after? You reviewed your instructor's feedback and used that to study harder for the next assignment. This is a way to approach failure, even in entrepreneurship. Analyze what went wrong, adapt your approach, and apply these lessons to future events for better outcomes.
Now that we have our principles laid out, let’s understand more about what we will be applying these principles to: Entrepreneurship.