Doing market research does not have to be DULL

Dear Year 10


Here is the Year 12 Questionnaire that they sent out to all staff yesterday.


Here are the results from it.


Today we will be ending it to all parents.


Why is research so important to their business ?


cookyourlook.is a Year 12 Young Enterprise Business.  This is their current market research survey

BTEC Grade Calculator

Dear Year 10


this link will allow you to calculate what you have so far and what you need o achieve your overall target grade across the four units in Year 10 & 11.


Why not spend a few minutes monitoring your progress to your own targe:


https://qualifications.pearson.com/content/demo/en/support/support-topics/results-certification/understanding-marks-and-grades/using-the-next-generation-btec-nqf-grade-calculator.html


Enjoy


Mr T

P1 Part 2 Outline how national factors in the business environment can impact on a start up business.

Dear Year 10


now that we have looked at the local factors we now need to add into our presentation a consideration of the national factors that will impact on our start up business.


National Factors to consider

National factors theory powerpoint

National factors structure guide



This resource might help in considering the NATIONAL FACTORS in greater detail here

Some more political factors to consider here


Don't stop here - aim for that B grade


For those looking to gain a MERIT on this Unit 1 here is your extension challenge for this piece of work:

M1 Explain how changes in the current business environment are likely to impact on a start up business

Top Tips from the Exam Board

"Learner needs to outline how the business environment can impact on a start-up business"

To do this properly you need to do some research and make sure that you include the references for it and you can use this document here and the structure guide here




Where to research and find information:

Sources of information, e.g. broadsheet and local newspapers, professional and trade

journals, websites, business networking organisations

Make sure that the sources you use are reliable and unbiased


This resource here is a summary of what changed in the last budget.  Have a read and identify anything that might impact negatively or be some support when you consider launching your business


IMPORTANT NOTE
Don't forget to include a discussion on the impact of these factors that you identify on your selected group of customers that you intend to target if they are relevant to your business proposition



The deadline for this P1 M1 is Wednesday 26th May 2018

P1 Considering the local and national factors that impact on a business start up

Dear Year 10


We are now entering the final stage of  the PASS tasks for Unit 1


P1 asks you to consider the local and national factors.  The business environment that a business needs to be able to understand and deal with if it will be successful.

This is your Presentation that will inform your audience about national and local factors in the business environment and how they affect a start up business.  I am not expecting you to present this but is does need to be a powerpoint and the resources below are designed to help and support a successful outcome:

P1 Outline how the business environment can impact on a start up business
Local Factors to consider

Local factors powerpoint - you will probably notice its full of visual examples to support the points you make

Local factors structure guide or blank template


This resource might help in terms of considering the LOCAL FACTORS and location here and here

National Factors to consider

National factors powerpoint

National factors structure guide



This resource might help in considering the NATIONAL FACTORS here

Some more political factors to consider here


Don't stop here - aim for that B grade


For those looking to gain a MERIT on this Unit 1 here is your extension challenge for this piece of work:

M1 Explain how changes in the current business environment are likely to impact on a start up business

Top Tips from the Exam Board

"Learner needs to outline how the business environment can impact on a start-up business"

To do this properly you need to do some research and make sure that you include the references for it.




Where to research and find information:

Sources of information, e.g. broadsheet and local newspapers, professional and trade

journals, websites, business networking organisations

Make sure that the sources you use are reliable and unbiased


This resource here is a summary of what changed in the last budget.  Have a read and identify anything that might impact negatively or be some support when you consider launching your business


IMPORTANT NOTE
Don't forget to include a discussion on the impact of these factors that you identify on your selected group of customers that you intend to target if they are relevant to your business proposition



The deadline for this P1 M1 is Wednesday 28th March 2018

P5 & P6 for Unit 1

Dear all


our next deadline is this week for the attached challenge.is P5 & P6 the Investors report click here


Make sure that the same revenue forecast that you create is used in the second table and make sure that you calculate your start up and running costs first on the document here


Good luck and hit that deadline 15th March for 10R Period 5 and 16th March for 10P Period 5.


Mr T

P4 Getting the market Research for my Business Plan

Hi Year 10


Remember this is the initial business plan template here


This powerpoint here will help you do more this research fully and think about the things that you might need to identify for the plan.


Don't forget you still have to completed your 10 question survey and received at least a dozen responses so that the results can tell you what it is that you need to know to launch a successful business.


We will then be in a position to revisit the Investors Report and think about the bigger VISION here


All best wishes and make sure that you get ahead in the half term


Mr T

Unit 1 Business Enterprise - P4 M4 D2 Business Plan and Research

Why should I start with the research for my business idea click here

Once you have an idea you need to do some research.  Primary research is carrying out a survey of question to find out what your customers really WANT or NEED.  This can be done as a verbal interview where you write down their replies or you could use SURVEY MONKEY or GOOGLE FORMS. Secondary research is looking at the research that’s already out there.  Remember that your research needs to focus on both the CUSTOMERS and the COMPETITION

 

1.    What did your PRIMARY & SECONDARY  research tell you here and here ? Did you carry out a survey? What the market thinks of your product and to help you find a price point

 

2.    What is your businesses product or service and more importantly what is its USP,?

 

3.    What is the suggested price that they would sell it for to get it on a shelf of a retail outlet?

 

4.    What type of promotion does your research suggest would sell it and the distribution channel it could enjoy.  Use your contacts both in and out of school to see how far the primary research can go.

 

5.    What does your competitive analysis for your product tell you? How does it compare to others in the marketplace?

 

6.    What does your SWOT analysis tell you and here

 

7.    If everything is looking positive you are now ready to consider writing your business plan but at the same time think about how you will present it for P6 using this worksheet here

 

Getting down to writing the BUSINESS PLAN click here

8.      The business plan needs to be submitted first week back after Christmas so that the DRAGONS can clearly see it before you present to them, second week back.  I have attached a few business plan examples below:

9.      Select a template from the list below that suits you or make one based on what you have discovered above

The schools own version of a very user friendly busiess plan is here

HSBC

Lloyds TSB

Barclays

Peter Jones 90 Day Model because everything changes all the time!

 

The Business Plan will include all the stuff you learnt in your P3 M3 report on how it will be successful and your P5 script.so don’t repeat this if you are using a template above.  Delete that section

Single sheet if you want your own copy here

P5 What legal structure will you use to set up your start up business?

Hi Year 10

Having considered the different businesses that you might like to set up we now need to consider the legal ways are available when setting up a business.

• Today you need to use the template found in the link below to explain what each legal set up consists of and
• Give some examples of the different types of businesses that have set up with this legal structure
• Add the advantages and disadvantages of each type before moving on to the next legal structure

The link below will take you to a template and that's what we can start to work on next.

 https://docs.google.com/document/d/1ZdNCHxBM2evfQ1jS_HU0RDmA4b6FMA4Hir25Njj9vhQ/edit

That will then lead us nicely into a business plan which will allow you to PASS P4 & P5 at the same time but just focus on the table at the top of this sheet.

Online resources

LTD & PLC’s

https://www.bbc.co.uk/education/clips/z2cpsbk

Sole Traders

https://www.bbc.co.uk/education/clips/zy2br82

Partnerships

http://www.bbc.co.uk/schools/gcsebitesize/business/aims/limitedcompaniesrev2.shtml

Business ownership - general

https://www.bbc.co.uk/education/guides/z4br87h/revision/1

I think a week is long enough to realistically complete P5 so don't delay get on with starting it today.

Deadline is P1 on Wednesday 31st January 2018 and P4 on Thursday 1st February.

All best wishes

Mr T

Preliminary thoughts

 

Before setting up a business you need an idea.  What’s yours for Unit 1?


Powerpoint 1

 

Once you have an idea you need to do some research.  Primary research is carrying out a survey of question to find out what your customers really WANT or NEED.  This can be done as a verbal interview where you write down their replies or you could use SURVEY MONKEY or GOOGLE FORMS. Secondary research is looking at the research that’s already out there.  Remember that your research needs to focus on both the CUSTOMERS and the COMPETITION

 

1.    What did your PRIMARY & SECONDARY research t and here tell you? Did you carry out a survey? What the market thinks of your product and to help you find a price point

 

2.    What is your businesses product or service and more importantly what is its USP,?

 

3.    What is the suggested price that they would sell it for to get it on a shelf of a retail outlet?

 

4.    What type of promotion does your research suggest would sell it and the distribution channel it could enjoy.  Use your contacts both in and out of school to see how far the primary research can go.

 

5.    What does your competitive analysis for your product tell you? How does it compare to others in the marketplace?

 

6.    What does your SWOT analysis tell youand here

 

7.    If everything is looking positive you are now ready to consider writing your business plan but at the same time think about how you will present it for P6 using this worksheet here

 

Getting down to writing the BUSINESS PLAN

8.      The business plan needs to be submitted first week back after Christmas so that the DRAGONS can clearly see it before you present to them, second week back.  I have attached a few business plan examples below:

9.      Select a template from the list below that suits you or make one based on what you have discovered abovethe Imberhorne template is the easisest one to use but we do have others from real banks below if you really do want to stretch and challenge yourself!

 

HSBC

Lloyds TSB

Barclays

Peter Jones 90 Day Model because everything changes all the time!

 

The Business Plan will include all the stuff you learnt in your P3 M3 report on how it will be successful and your P5 script.so don’t repeat this if you are using a template above.  Delete that section.  This report will need to be presented a week before you pitch it with your presentation during the second week back.  P4 is your initial plan so don’t make it too complicated.  P6 is your pitch an


Deadlines

P4 M4 D2 REPORTS & P6 M5 D3 P4 submitted 1^st week back. Presentations to be pitched w/c 8^th January 2018

Single sheet if you want your own copy here

P3 M3 - Unit 1 Enterprise in the Business World - Remember your aiming for a MERIT or above!

Task 4.0 Describe, using relevant examples, the features if successful businesses	Date to be completed: Wednesday 10rd & Thursday 11th Jan 2018
To support your presentation to the investors, you need to produce a brochure for your business that will show that you: ·         Understand what makes a successful business ·         Have a realistic plan for a business that is likely to be successful. Start your brochure by setting the scene for your business idea. To do this you need to carry out research into what makes a business successful.  Research at least three or four businesses working globally. For each of the four businesses, describe the business and the features that make them successful.  Before that you could watch the WORST PITCH TO THE DRAGONS EVER here This can be a whole range of businesses such as super markets, sports shops, clothes phone shops. You could also consider how your school is successful at educating students.  Arnold Du Toit                  Rolly Golf              Innovation or Invention  click here to see why Tanya Budd                        Hippo Hoist          Innovation or invention  click here & here to see Ross Kemp                         ASAP                      Innovation or invention  click here & here Saun Pulfrey                     Tangle Teaser         Invention or Innovation  click here to see why Duncan Goose                 One Water               Social Enterprise              click here to see why Terry the Taxi                  Taxi driver             Customer service              click here to see why Powerpoint of support here A template if you need it designed by Cyrus in Year 12 is here Easy peasey task sheet here STRUCTURE GUIDE from class HERE
This provides evidence for		P3

Deadline First week back after Christmas !

4.02 Compare the features, strengths and weaknesses of two successful businesses	Date to be completed With P3
Select two of the businesses you have researched and compare their features, strengths and weaknesses. To do this you will need to identify the similarities as well as the differences. You can present this in table format, using the following headings: ·         Features ·         How the features compare ·         Strengths ·         How the strengths compare ·         Weaknesses ·         How the weaknesses compare
This provides evidence for		M3

Its never too late to make a difference to your grade in the finance exam!

Dear Year 10

I have made a powerpoint here to help you answer the big questions for 8-12 marks which will ensure that you get that Merit or Distinction that you deserve.

I've also got you some exam skill slides here

And a formula sheet here

Good luck in the exams this week and just make sure that you answer every question and do your best.

Its been a real pleasure teaching you to finance now just do in there and do your best.

Mr T

Ten steps to succes on your L2 Finance online assesment this term

Dear Year 12 & 10



this is the page that will help you learn all the key terms, equations and the TEN topics that you have studies in this unit.  Feel free to use it wisely.


Can I suggest that you start by doing the RAG rated self assessment of where you think tou are first by clicking on the link here. That will help you focus your mind on things you do need to spend more time on and save you wasting time on stuff you don't.


Year 12 Your exam will be at the end of Week 10 lesson time TBC but it will be in one of our timetabled lessons that Friday.


Year 10 your exam will be in the penultimate week of this term (the week before the last week and likewise that will be in one of our timetabled lessons alos.

1. Key Equations that you need to know as your not given them in the online assessment
2. Fixed costs, variable costs and total costs
3. Costs Revenue and how to make and improve profits see BBC video here
4. Business Tools - Calculating the Brake Even Point 
5. Cash flow forecasting
6. Profit and Loss Accounts (AKA Income Statements)
7. Budgeting
8. Sources of Finance available to a business
9. Balance Sheets (AKA Financial Statement)
10. PowerPoint of all key topics is here

A workbook of resources and a workbook of questions is also available on student shared and as these a purchased resources I cant really post them to here! 


I have created you a revision PowerPoint here which covers all topics!


Student shared/BTECL2/Yr102017-18/Unit 2 Finance Exam and select from revision guide, revision workbook and workbook answers


and once you have got your head around the main topics why not try the online assessment by clicking  here





I do hope that you use it as it is very much what you do now that's important if you want to do well in this assessment this term as this will be an entire unit in the bag if you do and no resits which will cost you money!



Good luck and enjoy



Mr T

Balance sheets made easy

Dear BTEC Business


this page is designed to help you understand a very difficult concept very quickly.


Definition:  A balance sheet is a valuation of a company at a certain time and place.


It also shows what the company OWES and OWNS at a particular time and place.


It also tells you how the business was financed and should accurately show how the NET ASSETS and the FINANCE BALANCE


So lets start here with this PowerPoint and here and make some notes on this tough topic
Another Example of a balance sheet can be found here




1. Test what you have learnt from the power points above with this balance sheet terminology


2. My first Balance Sheet

A generic balance Sheet that covers all bases see here

3. Key Definitions


4. Key term test here

Revision resources for the whole unit here

Extended reading
What is the difference between an ordinary share and a preference share click here

The YE teams first balance sheet




Super Curricular


A brief history of Accounting


Further reading around the topic here