BRIGHT SPARKS! Student Enterprise Awards 2013/2014

SERENA BRYANS SERENA BRYANS Student Enterprise Co-Ordinator

The search for Bright Sparks starts here... National competition to encourage secondary-level students to set up their own mini companies...From Hair Accessories to Pamper Hampers...From Personalised Hurleys & Personalised Hoodies... Using the Latest Technology or Soap & Water

What’s Involved? Research and sell a product or service Keep Accounts Write a Business Report Set-up an exhibition stand and compete

Fingal County Finals

Why set up your own mini-company? Opportunity to make a profit Real-life experience of researching and running your own business Become a young entrepreneur!

Junior Category First Year Intermediate Category Second and Third Years Senior Category Transition, Fifth and Sixth Years

The Timings... Sept/Oct Brain-storm & research Nov/ Dec Market Days Jan/Feb Submit Business Report

Starting Your Business Examples: Spotting a trend & producing a relevant product

The Improved Broom

The Inventor – Sam Houghton

Creative Thinking Techniques Brainstorming: Generate as many ideas as possible All ideas are acceptable The crazier the idea, the better Assumption Smashing: What happens when assumptions no longer exist? Discontinuity: (disrupt your own patterns) -watch different TV programmes (Discovery Channel) -read different magazines (New Scientist) -visit different websites

Useful Websites Fingal Student Enterprise Programme

You have your idea...Now what? Primary Research (own research) -Questionnaires/ Phone surveys/ Interviews -Mystery Shopping / Focus Groups Secondary Research (from a third party) -Published sources (already in the public domain) -Central Statistics Office ( -Golden Pages/ Independent Directory -Relevant Trade Associations -Internet

Not such a great idea after all Colgate Colgate decided to use its name on a range of food products called Colgate’s Kitchen Entrees. Needless to say, the products did not take off and never left U.S. soil. For most people, the name ‘Colgate’ does not exactly get their taste buds tingling!

What’s Next? When you have gathered and analysed your research, write down the results (and keep a copy!) You can start planning your business around key areas: -Customers -Customer Profile – who are your customers? -Competitors -Competitor Analysis -Mystery Shopping -Product -New Product Development -Quality / U.S.P. (unique selling point) -Product Range

Planning Your Business Price -Pricing your product/service -Price Promotions (e.g. Buy 1, Get One Free) Place -Distribution of product/service -Internet/ E-commerce Promotion -Advertising -PR, Direct Marketing, Promotional Activities Human Resources - Assign roles and responsibilities Finance -Budget -Expected sales

What are the Judges looking for? Product/Service 50 Marks Marketing 30 Marks Innovation 50 Marks Risk Management 20 Marks Business Report 30 Marks Finances 20 Marks Exhibition Stand & Interview 30 Marks Personal Development 20 Marks

Winners from each category, represent Fingal at the National Student Enterprise Awards. April 2014 in Croke Park. Competing against winners from all other County and City Enterprise Boards.

The search for Bright Sparks starts now... Start observing the world around you Identify trends….translate those trends into meaningful products or services that would be important to Irish consumers Do your homework, ie your market research! Plan your business and build your team Get Feedback from your customers to improve your product or service!

It’s YOUR business, so enjoy the experience, have some fun along the way…and enjoy any profits!