GUERNSEY LAUNCH DAY 15 JAN 2020 Lydia Chambers Coordinator - - PowerPoint PPT Presentation

GUERNSEY LAUNCH DAY 15 JAN 2020

Lydia Chambers

Coordinator

Running Order

• Welcome
• Mentors
• Teamwork
• Break
• Sales & Marketing
• Getting ready to sell
• Finance
• Before your first sale
• Social media
• Mentor & team

planning

• Questions
• Lunch
• Product workshop

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?

A good team player is someone the team members know they can depend on. Share your ideas! Be someone who supports the team but also bring new suggestions to the table.

• 1. Meet your deadlines
• 2. Be honest

What makes a successful team?

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.

• 3. Adapt quickly
• 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

Don’t let yourself get distracted by issues that aren't crucial to your plan/project/product. Great team players take the time to make the plan a success

• 6. Genuine commitment
• 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

Corporate Mentor Parents Team Teacher 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

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Proud sponsors of

SALES & MARKETING

THE WORLD’S LEADING INTELLECTUAL PROPERTY MANAGEMENT AND TECHNOLOGY COMPANY

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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.

SUPPORTING INNOVATION

PRODUCT SALES & MARKETING

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USE THE HANDBOOK!

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SALES & MARKETING – The basics

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WORK TOGETHER FOR BEST RESULTS SALES All the activities that lead to the selling of goods or services. Salespeople are responsible for managing relationships with potential customers and providing a solution for customers that eventually leads to a sale. MARKETING All activities that help spark interest in your product. Marketers use market research and analysis to understand the interests of potential customers and are responsible for running campaigns to attract people to the product.

SALES & MARKETING – The basics

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WORK TOGETHER FOR BEST RESULTS SALES PLAN Must include details about the sales process, team structure, target market, and goals. Plus, the sales plan outlines the action plan, tools, and resources that will be used to hit these targets. MARKETING PLAN Lays out what the product is, its price, who it'll be sold to, and where it will be

• sold. This is also known as the 4Ps of

marketing:

• Product
• Price
• Place
• Promotion

SALES & MARKETING – The basics

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WORK TOGETHER FOR BEST RESULTS SALES GOALS The focus is to hit sales volume goals. Sales management calculates how much their department, teams, and individual salespeople need to sell to meet the goal. MARKETING GOALS Look at all ways to promote the product. Marketing departments are responsible for pricing the products and communicating how the product fills customers' needs and wants.

SALES & MARKETING – The challenges

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I have a product that I need to sell. My aim is to persuade someone to buy it I have a product that I need to sell. My aim is to ensure that it meets customers’ needs

SALES SUBJECT MARKETING

Price can often be my biggest problem. Buyers tell me that our prices are higher than others My aim is to understand what people want and what they will pay for it. I want to make sure we don’t sell too cheaply Promotions which promise discounts are the most effective Promotions need not only be about

• price. There are other ways of

influencing the buying decision My strategy is to push products out the door (get all products sold)

My strategy is to pull customers towards

• ur product (generate interest in our

products)

SALES & MARKETING – Top Tips

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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

SALES & MARKETING – Top Tips

BE CURIOUS. BE PASSIONATE. BE UNIQUE. BE RESILIENT.

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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

Profit & Loss The bread and butter of your business

Private Banking

Offshore - Company Confidential

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Calculating Profit and Loss

• How to work out your profit and loss
• How to create a profit and loss spread sheet

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… £ + £ + £ + £ = £ What other costs? Wages, transport, power etc. Costs first – need to know cost per unit

Offshore - Company Confidential

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How to create a profit and loss spreadsheet…

Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 7 Week 8 Week 9 Week 10 TOTAL MONEY IN

(Revenue/Sales)

MONEY OUT (Cost / Expenditure) GROSS PROFIT Revenue - Cost OTHER EXPENSES* NET PROFIT Gross Profit – Other Expenses TOTAL NET PROFIT = Total GROSS PROFIT – Total 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.

Offshore - Company Confidential

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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?

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

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

Instagram

• Instagram is a community built on the power of visual

storytelling

• Showcase your products and services in a rich, visual

context

• Create a new business profile, choose a relevant name
• Add a profile picture, keep it simple. Your logo would

work well

• Edit your images and videos to give them that

unmistakable instagram look that people respond to

Instagram

• Use hashtags e.g.

#studentbusinesschallenge

• Search for Guernsey businesses

and people and follow them. If their content is relevant, like it and comment

• Fuel your other marketing

channels, automatically push your content to Facebook and Twitter

Twitter

• Create a Twitter profile
• Follow local businesses and people, hopefully they’ll

follow you back

Action Plan

ACTION PLAN

Use this template at the launch event to work out what you need to do over the next few weeks. It is a good idea to complete this at the same time as you are writing your business plan so you cover all aspects of your business. What needs to be done? Who will do it? When will it be done by? Market Research Talk to your potential customers to find out what they think of your product or service so you can make any modifications Find out what your competitors are doing and how much they charge for similar products or services Marketing Design your logo Set up social media accounts Work out what other promotions you can do Production Find equipment and ingredients needed for your product / service Get hold of any packaging you need

Planning Time……

• 1. Complete participation & proceeds

agreement

• 2. Agree team roles
• 3. Start filling in your business plan
• 4. Think about trading standards implications
• 5. Create your action plan

Questions

Mrs Coffey

Executive Headteacher

Lunch