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Tips for LSE entrepreneurs

The best ideas often start in idle conversation, as the experience of LSE researcher Dr Aleksi Aaltonen  shows.

In 2011, the Department of Management scholar was chatting with friends about the difficulty of keeping his weight under control while working such long hours on research projects and not finding the time or motivation to exercise.

Together the friends - previous co-workers and like-minded entrepreneurs - embarked on a hobby project to develop an activity tracker app for a smartphone.

The hobby turned into a prototype and then something more serious, resulting in the ground-breaking activity tracking app Moves .

The app tracks the user's movements throughout the day, as long as their phone is switched on, and makes the user more aware of his or her activity level, encouraging them to exercise more. Unlike the many sports tracking apps already on the market, the product is unique in that it doesn't require the user to switch tracking on and off.

Apple thought it was such a good idea it named Moves the best fitness app in 2013. Facebook was similarly impressed, purchasing the company behind Moves in April 2014.

There's no magic formula for entrepreneurial success, Dr Aaltonen says, but Moves met some very basic requirements: it was unique, well-made, and met a genuine need.

In this video, Dr Aaltonen, a Visiting Fellow in LSE's Department of Management since 2006, provides some tips for LSE's entrepreneurially-minded students.

Posted 27 May 2014