This week, we need to really keep our nose to the grindstone (not like the cartoon below, though) and CHOP through a number of tasks. We again have four main areas of focus for our tasks, but this week’s focus is refinement. Below is a big picture look at what we will be doing:
- Completing the oral presentation (PowerPoint AND talking points) by Wednesday
- Make sure to base everything on what we’ve included in the written business plan AND the competition rubric
Trade Fair competition artifacts:
- Impact Marketing
- Newsletter
- Company Website
- Day-to-day operations
- Upkeep of website
- Trade Fair Banner
- Payroll
- Display Board
- Acquiring sponsorships to subsidize cost of Gatlinburg trip
Just like last week, we will be doing these tasks throughout the week, so our clear targets again will be:
We can apply concepts to operate a start-up business
We can create a business plan presentation
You will all be assessed on the quality of your work as well as how well you work with one another. Making sure your final decisions are in the best interest of the organization is of the utmost importance, so please be sure to focus on the big picture rather than individual preferences. The better we work together, the prettier our bottom line will look at the end of the year.
Here’s a breakdown of what each group will do and who is responsible for each task:
Business Plan Competition Team:
Review the Oral Presentation Rubric and finish the PowerPoint and talking points for our Oral Business Plan. Remember to focus on our purpose and work to include every detail required in the rubric, as well as additional information we included in our written plan (Company Vision, Specialization of our products, etc.).
Feedback from last week’s work:
- Catchy introduction: I love the picture you paint in your introduction. Practice this opening and you will have the attention of the investors
- Accuracy of data: Sadly, I don’t think you got this far in your preparation. EVERY TEAM MEMBER NEEDS TO KNOW ABOUT THE MARKET CONDITIONS AND WHY OUR BUSINESS WILL SUCCEED. Review with Michelle our current market conditions. You will sound very educated if you can use this information when addressing questions from investors
- “Feasibility”: Again, this hasn’t been addressed yet, so focus on asking for the business. This year, we can earn up to 5 extra points if the judges are willing to invest in our organization. That said, make sure to include a slide in which we ask the judges if they are willing to invest, and if they are not certain, be sure to ask if there is anything they wish to know that would help them come to a definite decision
Trade Fair Competition Artifacts:
Your initial creation has a great background and includes a lot of company information. Create at least one more option for our class to choose from so we have options on what to submit. Don’t be afraid to think outside the box. Maybe something simple, like the “Got Milk” posters described in the rubric or something outrageous like the “Your Wife is Hot” idea we discussed. Just make sure to keep everything professional and appropriate.
Your artifact is complete. We will need to review your work to revise some of the writing (syntax, grammar, etc.) AND the aesthetics (enlarging font, adding some color and company logo throughout the file). Your choice of topics was strong. We might want to add to it. That will be our focus this week.
Company Website Competition and Banner Creation
IT has done a fabulous job of having almost everything finished for the website competition. As it stands, we will have to get a shopping cart built into the site to have everything ready for the judges.
In addition to the website, we now have to design and create our banner for the trade fair. Please use the old Pick-It Sweets & Treats banner for inspiration. Our banner will need a design, our contact information (including that web address), and some eye-catching designs. Complete this project by Thursday and we can review on Friday.
Day-to-Day Operations:
Employees who are not focusing on the business plan presentation or competition artifacts have to carry the load of maintaining our business and keeping things running smoothly. Remember, just because we have these deadlines for the Trade Fair doesn’t mean we don’t still have a business to run. After all, without a successful business, how can we really speak so confidently about ourselves in the business plan? Without a strong business, what good will all these strong marketing artifacts really do to keep customers once we’ve gotten them in the door?
That said, we need our remaining employees to complete our typical operational tasks. Employees need to be paid, orders need to be filled, sales calls need to take place, and all of our financial transactions need to be recorded. With fewer employees, this means there will be zero downtime, so make sure you work diligently on the upkeep of our brand. See below for a breakdown of tasks and responsibilities:
Tasks and Responsibilities:
- Contact Local Businesses for Sponsorship
- Please utilize the list of Clarksville Young Professionals we met this summer to reach out to potential sponsors. As a sponsor, they could help our class in many ways, including:
- Donating supplies, equipment, or money
- Guest speaking
- Helping judge business plan presentation practice next week
- Maintain accurate inventory records – Sales and Finance
- Check our wholesale marketplace to update inventory records and update each sales transaction
- Journalize purchase of inventory in our Cash Payments Journal
- Keep records of who’s present and pay each employee accordingly
I know this is a lot of work, but this class is handpicked specifically because you are all capable of accomplishing these tasks better than anyone else in the school. Take pride in this and put your best effort into getting these tasks done. When these tasks are done, you will have a lot of things to add to a personal portfolio that will help you with your college and scholarship applications.
I’ll see you soon!
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