GUERNSEY LAUNCH DAY 15 JAN 2020
Lydia Chambers Coordinator
Running Order • Before your first sale • Welcome • Social media • Mentors • Mentor & team • Teamwork planning • Break • Questions • Sales & Marketing • Lunch • Getting ready to sell • Product workshop • Finance
Mr James Principal Designate Victor Hugo College
Working in teams Ove Svejstrup, Associate Partner
What is Teaming? A group of people with a full set of complementary skills required to complete a task, job or project. A team needs; • Communication • Leadership • To work towards a common goal • Mutual interest • A good attitude • Positivity
What makes a successful team? 1. Meet your deadlines A good team player is someone the team members know they can depend on. 2. Be honest Share your ideas! Be someone who supports the team but also bring new suggestions to the table.
What makes a successful team? 3. Adapt quickly As problems arise find solutions and change plan together to make things work, catch up regularly to understand if things are going well or if they need to be changed. 4. Appreciate others The best teams have a mix of characters and skills. Recognise each others strengths and use them. Believe in your product and be proud of it.
What makes a successful team? 5. Avoid Politics 6. Genuine commitment Don’t let yourself get distracted by Great team players take the time to make issues that aren't crucial to your the plan a success plan/project/product. 7. Reliable A great team player is constantly reliable, day in and day out, not just some of the time. You can count on them to get the job done, meet deadlines, keep their word and provide consistent quality work. Make a plan and stick to it!
What we don’t want to see A team that performs well together gets rewarded together!
Your support network Parents Teacher mentor Team Corporate Mentor
The Mentor relationship The interactions between you and your designated Corporate/teacher mentor during the challenge will support performance to help achieve success and answer your questions and queries as they arise. Your mentor is giving up their time to support you, please be on time and use them to your advantage. Ask questions!
Remember
Good luck to everyone involved!
Teamwork Exercise Build a free standing tower
Break & Team Photographs
Proud sponsors of SALES & MARKETING 19
THE WORLD’S LEADING INTELLECTUAL PROPERTY MANAGEMENT AND TECHNOLOGY COMPANY SUPPORTING INNOVATION We power the ideas of the world’s most innovative and disruptive companies through our technology and services, helping our customers manage their intellectual property in a more efficient and profitable way. 20
PRODUCT SALES & MARKETING 21
USE THE HANDBOOK! 22
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SALES & MARKETING – The basics SALES MARKETING All the activities that lead to the All activities that help spark selling of goods or services. interest in your product. Salespeople are responsible for Marketers use market research and managing relationships with potential analysis to understand the interests of customers and providing a solution for potential customers and are customers that eventually leads to a responsible for running campaigns to sale. attract people to the product. WORK TOGETHER FOR BEST RESULTS 24
SALES & MARKETING – The basics SALES PLAN MARKETING PLAN Must include details about the sales Lays out what the product is, its price, process, team structure, target market, who it'll be sold to, and where it will be and goals. Plus, the sales plan outlines sold. This is also known as the 4Ps of the action plan, tools, and resources marketing: • Product that will be used to hit these targets. • Price • Place • Promotion WORK TOGETHER FOR BEST RESULTS 25
SALES & MARKETING – The basics SALES GOALS MARKETING GOALS The focus is to hit sales volume Look at all ways to promote the goals. product. Sales management calculates how Marketing departments are much their department, teams, and responsible for pricing the products individual salespeople need to sell to and communicating how the product meet the goal. fills customers' needs and wants. WORK TOGETHER FOR BEST RESULTS 26
SALES & MARKETING – The challenges SALES SUBJECT MARKETING I have a product that I need to sell. My I have a product that I need to sell. My aim is to ensure that it meets aim is to persuade someone to buy it customers’ needs Price can often be my biggest problem. My aim is to understand what people Buyers tell me that our prices are higher want and what they will pay for it. I want to make sure we don’t sell too cheaply than others Promotions need not only be about Promotions which promise discounts are price . There are other ways of the most effective influencing the buying decision M y strategy is to pull customers towards My strategy is to push products out the our product (generate interest in our door (get all products sold) products) 27
SALES & MARKETING – Top Tips Enthusiasm • Enthusiasm for your product is important – but make sure it’s not blind enthusiasm! Choose your customers wisely • Your product is not going to be the right fit for every single customer. Spend your time and energy pursuing the customers who need (and are happy to pay for) exactly the product that you offer. Be a problem solver • The most successful teams will be those that focus on their customers’ needs and find innovative ways to solve their customers’ problems. Market your product before it’s ready. • Don’t wait until you product is perfect. Let potential customers know your product is coming.. This way, when the product is ready, so are customers! Reward loyalty or interest • Word-of-mouth testimonials and loyal customers are better than any sales team you could put together. Reward and encourage these customers 28
SALES & MARKETING – Top Tips BE CURIOUS. BE PASSIONATE. BE UNIQUE. BE RESILIENT. 29
Team planning time What does this mean for your business? Start filling in your Business Plan
Getting ready to sell
Market Day Saturday 29 Feb 10.00 am – 1.00 pm
Sales Locations
Sales Locations • Think about where your customers go – Town – Beau Sejour – Le Friquet – Sporting events – Offices – Other ideas? • You must ask permission in advance • How many times can you sell?
Market Square
Market Square Pitches • Must be booked direct with Bailiwick Estates – Emails to request pitch need to be sent to – sophie@bailiwickestates.com • Free of charge • Keep all entrances and exits clear, remove rubbish
Half Term
Production Guidelines
Production Guidelines
Private Banking Profit & Loss The bread and butter of your business
Calculating Profit and Loss • How to work out your profit and loss • How to create a profit and loss spread sheet Costs first – need to know cost per unit £ + £ + £ + £ = £ What other costs? Wages, transport, power etc. Price next – what price can you sell each unit for? How set price? How many? Profit = Revenue – Cost (per unit) Before you start – plan for Profit, or fail as a business… 43 Offshore - Company Confidential
How to create a profit and loss spreadsheet… Week Week Week Week 4 Week 5 Week 6 Week 7 Week Week 9 Week 10 TOTAL 1 2 3 8 MONEY IN (Revenue/Sales) MONEY OUT ( Cost / Expenditure) GROSS PROFIT Revenue - Cost OTHER EXPENSES* NET PROFIT TOTAL NET PROFIT = Total Gross Profit – Other GROSS PROFIT – Total OTHER Expenses EXPENSES. Don’t forget to deduct the £100 initial loan as an expense when calculating your net profit for your total 10 -week period. 44 Offshore - Company Confidential
Finance task Questions to answer: • How much will it cost to make / buy the product? (all costs) • What will your selling prices be? • How much profit will you make? 45 Offshore - Company Confidential
Team planning time What does this mean for your business? Start filling in your business plan
Before your first sale ……
Before your first sale
Social media
Social Media
Why use social media in business? • The human face of your business online • Takes advantage of natural web user behaviour • Almost half of web users turn to social media when making a purchase (reading reviews / comments / ratings / promotions) Source: Digital Insights IMPORTANT NOTE: Make sure your parents are happy for you to use social media to promote your business
Why use social media in business? Facebook • 1.9 billion users • 75% of users spend 20 minutes or more on Facebook each day Twitter • Over 300 million Twitter users Instagram • Over 600 million Instagram users • 53% of users follow brands Source: Social Media Today & Tracx
Facebook • How to create a Facebook page: visit www.facebook.com/pages/create
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