JERSEY LAUNCH DAY 17 JAN 2019
Lydia Chambers Coordinator
Running Order • Welcome • Working with mentors • Mentors • Q&A • Teamwork • Lunch • Break • Social media • Marketing • Branding • Selling • Before your first sale • Getting ready to sell • Action plan • Finance • Q&A
Mr Hughes Headteacher Haute Vallee
Working in teams Kirsty Mackay, 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; • Leadership • To work towards a common goal • Mutual interest • Communication
Your PART-TO-PLAY in Teaming? 1. Meet your deadlines A good team player is someone other team members know they can depend on. 2. Be honest Be someone who supports team but also bring new suggestions to the table.
Your PART-TO-PLAY in Teaming? 3. Adapt quickly As problems arise find solutions and change plan together to make things work 4. Appreciate others The best teams have a mix of characters and skills. Recognise each others strengths and use them
Your PART-TO-PLAY in Teaming? 5. Avoid Politics Don’t let yourself get distracted by 6. Genuine commitment issues that aren't crucial to your Great team players take the time to make plan. the plan and team 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.
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 a designated Corporate/teacher mentor during the challenge will support the teams’ performance to help achieve success and answer your questions and queries as they arise.
Remember
Good luck to everyone involved!
Teamwork Exercise Drop the ball
Rebecca Pitcher Assistant Marketing Manager OGIER
What is Marketing? It’s about getting the right product to the customer at the right price, in the right place and at the right time. Making your magnificent idea a reality!
The Marketing Mix
Marketing is all about your customers Market research gathers information about customer needs and preferences. Type of Research Ways to obtain research Primary Research Interviews (Research you collate Surveys / Questionnaires yourself) Focus Groups Secondary Research Company reports (Research already compiled Government Studies and analysed) Public information sources eg gov.je Don’t forget to find out about your competitors too!
Promotion = communication
Case Study: The Ogier brand story
Good luck!
Production Guidelines
Production Guidelines
Sales Locations
Market Day Date to be confirmed
Sales Locations • Think about where your customers go – Town – Ransoms – Bus station – Offices – Other ideas? • You must ask permission in advance • How many times can you sell?
Pitches in town
Brook Street Between Jack Wills & Hamons Charing Cross By the Toad 58
Halkett Street At the Side of Boots Don Street Opposite Accessorize 59
Pitches in town • Must be booked through the Challenge – Emails to request pitch need to be sent to – studentbusinesschallenge@gmail.com • Cost £12.50 for full day or £6.50 for half day – Full days are from 9.00 am until 5.00 pm – Half days are from 9.00 am until 12.45 pm or from 1.15 pm until 5.00 pm
Pitches in town Booking opens at 8.00 am on the Monday morning 2 weeks prior to the date required Week Sales Date Booking opens at 8.00 am Week 1 Sat 26 Jan Mon 21 Jan Week 2 Sat 2 Feb Mon 21 Jan Week 3 Sat 9 Feb Mon 28 Jan Week 4 Sat 16 Feb Mon 4 Feb Week 5 Sat 23 Feb Mon 11 Feb Week 6 Sat 2 March Mon 18 Feb Week 7 Sat 9 March Mon 25 Feb Week 8 Sat 16 March Mon 4 March Week 9 Sat 23 March Mon 11 March Week 10 Sat 30 March Mon 18 March
Paul Savery Profit & Loss The bread and butter of your business
Learning Points Today 1. Explain how to calculate PROFIT and LOSS 2. Practical session demonstrating the criticality of pricing strategy 3. Show you how to create a PROFIT and LOSS spreadsheet 63 Offshore - Company Confidential
1) Calculating Profit and Loss Costs first – need to calculate cost per unit... e.g. A cheese and pickle sandwich... £ + £ + £ + £ = £ Cost of 2 slices of bread, plus butter, plus generous portion of cheese, plus spoonful of pickle, plus cost of paying someone to make the sandwich, plus packaging costs... Total Cost per Unit 64 Offshore - Company Confidential
1) Calculating Profit and Loss Revenues/Income/Sales Simply the Price per Unit sold (£) X the Number of Units sold.... = Total Income Profit Profit = Total Income – Total Costs Profit per Unit = Sale Price per Unit – Cost per Unit 65 Offshore - Company Confidential
Pricing Strategy Exercise Introduce special guest – Professor of Pricing to help guide us through this session On your tables you will find: 1. A sheet which provides you with a table team colour – Green, Red or Blue. Check 2. This sheet also contains details of the price at which your team can Buy 2 separate items, which we’ll tell you about in a minute. Please do not share this info beyond your table. – Check 3. A pile of sheets marked “Buy” – one each – please take one now. 4. You should each now know the price at which you are allowed to buy item 1. All you need to do, when asked, is to hold up your Buy card if you, personally, would want to buy Item 1 at that price. If you think it’s too expensive - do nothing. 5. Item 1...... Green – Blue - Red 6. Item 2.... Green – Blue – Red 7. Prof of Pricing runs the calcs – next page... 66 Offshore - Company Confidential
3) Profit and Loss Spreadsheet Starting with £100 LOAN... It’s important to track your INCOME (revenue made) and EXPENDITURE (costs incurred) regularly REMEMBER: INCOME minus COSTS equals PROFIT 67 Offshore - Company Confidential
How to create a profit and loss spreadsheet… Week Week Week Week 4 Week Week 6 Week Week Week Week TOTAL 1 2 3 5 7 8 9 10 MONEY IN (Revenue/Sales) MONEY OUT ( Cost / Expenditure) GROSS PROFIT Revenue - Cost OTHER EXPENSES ( renting pitch, printing, travel etc ) NET PROFIT TOTAL NET PROFIT = Total Gross Profit – Other GROSS PROFIT – Total Expenses OTHER EXPENSES. Don’t forget to deduct the £100 initial loan as an expense when calculating your net profit for your total 10 -week period. 68 Offshore - Company Confidential
Pricing Strategy Exercise Back to the Professor of Pricing and friends to help guide us through the outputs.. 1. Item 1...... Green – Blue - Red 2. Item 2.... Green – Blue - Red Lessons?.... 69 Offshore - Company Confidential
Planning Time…… 1. Complete participation & proceeds agreement 2. Agree contact with your mentor 3. Agree team roles 4. Start working on your business plan 5. Think about trading standards implications
Questions
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
Facebook • Like other relevant Facebook pages • Recruit your friends and family, encourage them to like comment and share your posts • Create events, they’re a great way of improving the visibility of what you’re doing • Think about video as well as images. People engage very well with video and it’ll help you stand out from the crowd
Facebook • Constantly improve, use the reporting insights and identify which posts work best and replicate
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