Hogan Lovells Application question

[Lauren]

Hi, I was wondering if I could have any advice or guidance on how to approach this Hogan Lovells application question.
Sustaining a successful and profitable practice requires both commercial awareness and innovative thinking. Tell us about something that you have done that shows you have a strong innovative or entrepreneurial spirit.

I've pasted below how I was thinking of approaching it but I am not sure whether it fully demonstrates what they are looking for. Any advice would be appreciated!

I demonstrated a strong entrepreneurial spirit in setting up my own business with three friends providing face painting and glitter tattoo services at children’s parties. As a new business, it was crucial we developed a strategy to establish a client base in an already crowded market. I was responsible for managing the range of glitter tattoos and face paints we offered, ensuring we had sufficient stock and designs which would appeal to every child. I did this by maintaining a spreadsheet which kept a record of our stock which was updated following each event. I also worked closely with our customers, requesting feedback on events which I would act upon at our future events. This formed an important component of our business strategy by adapting our products to meet customer requests. For example, I was able to differentiate ourselves from competitors by updating our glitter tattoo and face paint range to include Frozen designs to capitalise on a recent trend, meaning I was able to anticipate future demand. As a result of this development of our business strategy, six successful events were held over the year which reported high levels of parent and child satisfaction and generating an average profit of £70 per event.

 

[Fionayukey]

Hi, I am applying for Hogan as well. I think your answer is great. You have clearly set out the STAR technique. So don't worry about it.
My only advice to you is perhaps you should add some words such as initiated, recommended etc to show that you think out of the box while no one else can. For instance, I would say something like I suggested to my team to use a spreadsheet in order to keep a record of our stock - tell them why you think it's important to keep a record - was it to ensure the stock wouldn't go missing? and why is it important to keep it updated? was it to ensure that you will not face any loss? This is just my suggestion. In order to set up your own business, it is important to keep everything in check. So I hope this helps.