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Sales, marketing, operations and finance workshop John Alves Kate Casey John Mansfield Vidya Mishra Liz Doble Will Matthews 13 th October 2016 Procter & Gamble, Brooklands Agenda Innovation and product ideas Essentials for


  1. Sales, marketing, operations and finance workshop John Alves Kate Casey John Mansfield Vidya Mishra Liz Doble Will Matthews 13 th October 2016 Procter & Gamble, Brooklands

  2. Agenda Innovation and product ideas • Essentials for success • Break-out sessions for: • Managing Director - team leading Marketing and sales Finance Operations Break • Marketing exercise • Business planning • Finance for all • Young Enterprise support tools • Programme for the year •

  3. Innovation and product ideas Kate Casey

  4. Innovation and product ideas INNOVATION: Definition - Something newly introduced: • New Product/Service • Existing Product/Service – with a difference/edge

  5. Innovation and product ideas “New” Product Examples: Telephone 1876 • Computer / IT 1943 •

  6. Innovation and product ideas Existing Products with an Edge • How can we improve/add value to that product? • Why would customers buy our product? Remember - you can be innovative in any area of your business- product, marketing, sales, IT, operations, finance.

  7. Innovation and product ideas Product ideas and selection Brainstorm ideas - consider the team’s abilities, knowledge, contacts and resources. • Long List : 5-10+ ideas • Ask yourselves: • Is this something that people will want ? Can we make/buy enough product? Can we make a profit? Will WE enjoy doing this? Reduce: Achieve a short list of 1-3 products/service ideas •

  8. Innovation and product ideas When selecting from Short list, ask yourselves : • – What are we selling? – Who will buy it? – Where will we get it? – How much will it cost to get and timescale? – How much will customers pay/how many could we sell? Then - estimate quantities, costs, revenues (sales income) and profits • Then – Agree on your main final product or service! •

  9. Innovation and product ideas North Surrey Area - Successful product ideas • Hook – biscuit/business card holders that hooked onto your cup/glass • Bank It – an app for paperless receipts, ordered and categorised on your phone • Ignite – glow in the dark phone cases and candles • Black and Blanco – watches with interchangeable faces and straps • Glass Act – personalised designer glassware for the home • Gradient – thermal mug with compartment for drinks ingredients • Cake in a Jar ’ – Selection of Dry cake ingredients in Jars with recipe and whisk • Pholder – mobile phone holder when charging • Mugnificent – personalised beverage mugs

  10. Innovation and product ideas

  11. Innovation and product ideas

  12. Innovation and product ideas

  13. Innovation and product ideas More successful ideas • Oxygen - Oxford landmarks prints and children’s guidebook • Ceilo - c ollapsible lunch box • Thirteen - placemat/wall chart encouraging consumption of fruit and vegetables • Amazing Ginger Co - educational board game with CD • Vitamin Boom - healthy fruit drink (UK winner) • Sign4Life - sign language app (international winner) • Summit - perfume pen (UK & international winner)

  14. Innovation and product ideas

  15. Essentials for success John Alves

  16. Essentials for success • Teamwork • Commitment

  17. Essentials for success - Teamwork There’s a lot to do One person can’t do everything Think of a team sport E veryone has their own special responsibility but… Support the others too

  18. Essentials for success - Commitment One hour a week is not enough! - A board meeting is a planning and decision making meeting - Problem solving and completion of tasks must take place between meetings

  19. Essentials for success - Commitment If you agree to a task and a date the team is relying on you - deliver or warn people in advance if you can’t Don’t agree if you don’t believe you can deliver

  20. Break-out sessions • Managing Directors – Vidya Mishra • Sales and Marketing – Will Matthews • Finance – Liz Doble • Operations – John Mansfield

  21. BREAK

  22. Innovation exercise You are releasing a new range of hair care products • Your target customers are between 12 and 20 years of age • Male and female You must define • Your product name • A product strap line • Where you will sell it You have 10 minutes

  23. Business planning John Alves

  24. Business planning – writing a business plan A good business plan can turn a brilliant idea into reality

  25. Business planning – writing a business plan • Who are you? - mission/logo/slogan • What do you do? - description of business • Where do you do it? - your customers, marketplace, competitors • How do you do it? - marketing, costs, pricing policy, sales targets, premises, insurance, legal requirements

  26. Business planning - writing a business plan •Start with a short summary • Business vision (or mission statement) • Description of business • Your marketing plan - customers - market - your competitors - cost/pricing/sales analysis • Insurance/legal requirements

  27. Business plan competition! £50 Investment to be won! Send your business plan by November 4th deadline to info@yesnorth.org.uk The Young Enterprise North Surrey Board will judge all plans and announce the result online .

  28. Finance for all John Alves

  29. Finance for all - financial management Proper financial management is crucial to running a • successful company Responsibility for planning and tracking your company • finances is YOURS not your adviser, not your teacher Routine financial inputs go to the Finance Director • - all receipts and payments Key financial reports, to be reviewed regularly : • - balance sheet - profit and loss account

  30. Finance for all - financial records • ALL cash passed to the Finance Director immediately • Full details of ALL transactions to Finance Director • Finance Director to record transactions in accounting system • Receipts/invoices/share stubs to be filed by Finance Director • Bank your cash regularly • Keep any spare cash securely • Stock = cash so make sure you know how much you have! • Remember to include VAT in your calculations

  31. Finance for all - VAT and corporation tax • Value Added Tax (VAT) - applies to all purchases and sales - VAT rate is 20% - VAT to pay = VAT due on sales minus VAT paid on purchases • Corporation Tax - is paid on profit only - calculated at the rate of 10% of profit • All taxes are paid to Young Enterprise

  32. Young Enterprise support tools Visit yeonline.y-e.org.uk to: register your company • access Young Enterprise guidance • use the Young Enterprise accounting system • Visit yesnorth.org.uk to: get updated information on local events and news • book for events • upload/download files • Contact us at info@ yesnorth.org.uk

  33. Surrey North area programme Event Date Location Sat 26 th Nov Trade Fair Woking Sat 10 th Dec Trade Fair Egham Christmas Sales Dates tbc P&G Egham and Brooklands Tue 17 th Jan 5.00 – 8.00 pm Competition Workshop P&G Egham Thu 9 th Feb 4.00 – 7.00 pm Half Year Festival BoA Merrill Lynch Camberley Trade Fair February Thu 23 rd Mar 3.30 – 9.00 pm Surrey North Area Final P&G Brooklands Thu 11 th May Surrey County Final Guildford

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