Lydia Chambers Coordinator Running Order Welcome Q&A Mentors - - PowerPoint PPT Presentation

Lydia Chambers

Coordinator

Running Order

• Welcome
• Mentors
• Teamwork
• Break
• Finance
• Marketing
• Selling
• Getting ready to sell
• Working with mentor
• Q&A
• Lunch
• Social media
• Branding
• Before your first sale
• Action plan
• Q&A

Mrs Coffey

Guernsey Grammar

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;

• Leadership
• To work towards a common goal
• Mutual interest
• Communication

Your PART-TO-PLAY in Teaming?

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

• 1. Meet your deadlines
• 2. Be honest

Your PART-TO-PLAY in Teaming?

As problems arise find solutions and change plan together to make things work

• 3. Adapt quickly
• 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 issues that aren't crucial to your plan. Great team players take the time to make the plan and team

• 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.

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 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

• Build a chair / contraption to hold a person off

the ground for 30 seconds

– You have 15 balloons – You can use string – You may not use anything else

• The team that uses the fewest balloons and

holds the highest number of people off the floor wins.

Profit & Loss The bread and butter of your business

Offshore - Company Confidential

19

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

Offshore - Company Confidential

20

1) Calculating Profit and Loss

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

£ + £ + £ + £ = £

Costs

first – need to calculate cost per unit... e.g. A cheese and pickle sandwich...

Offshore - Company Confidential

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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

Offshore - Company Confidential

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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...

Offshore - Company Confidential

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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

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 (renting pitch, printing,

travel etc)

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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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?....

Kate Kirk Head of Marketing 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. Don’t forget to find out about your competitors too!

Type of Research Ways to obtain research Primary Research (Research you collate yourself) Interviews Surveys / Questionaires Focus Groups Secondary Research (Research already compiled and analysed) Company reports Government Studies Public information sources eg gov.je

Promotion = communication

Good luck!

CI Student Business Challenge 2018

Top sales & retail tips Alistair Beak, Sure Chief Marketing Officer

49

Place

Where are you going to sell?

• High street / market / stalls
• Partnerships with other retailers
• Events or places
• Online

How will people know you’re there?

• Footfall i.e. passing traffic
• Events based footfall
• Advertising or social media

50

Place

What does your stand look like?

• Clean and tidy
• Obvious what you are selling
• Pricing information
• Samples if appropriate

51

People buy from people…

52

• How do you look from a distance? Be approachable.
• Eye contact & smile!
• What is the first thing that you say?
• Do you know about your product?
• Do you believe in your product?
• Give great customer service

Production Guidelines

Production Guidelines

Sales Locations

Market Day Sat 3 March

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?

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

Webreality 11thJanuary 2018

Social media for business

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 to define your

content and ensure it is found by the relevant audience, 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

Twitter

• Write tweets that spark conversations and keep your

audience engaged (max 280 characters)

• Add your location and use relevant hashtags
• Think all the time about likes, shares, retweets and

mentions

• Who will YOU tweet…?

Marketing Material

Use time to:

• Create logo
• Design packaging
• Agree promotions
• Design display materials
• Set up social media sites

Before your first sale

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

Questions

Mrs Clark

St Sampsons