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October 22, 2014 / cbkingston

Friday’s Class: Campaign Report, Business Ideas/Markets

1) Report your campaign stats, along with why you think it behaved the way it did, what you could improve, etc. This is informal, and needs to be short (2-3 minutes). The combined team presentations are meant to take only 30 minutes in total. Presenting this from someone’s blog post is ideal.

2) Have your target market in mind for your business. I’m going to be introducing the partner companies who can provide manufacturing capabilities to you. Please investigate them beforehand: http://cricut.com and http://robofold.com and have some questions in mind. You do not have to use these resources, but at least one team should be using one of these businesses—minimum of one team using Robofold and another team using Cricut.

3) Business ideas: it was mentioned before but worth noting again that there are rules associated with your business ideas. This can be found on the module blog here: https://macekingston.wordpress.com/business-rules/ Please review this before your business idea/market is reviewed on Friday. Some tips:

a) Your target market should be accessible to your team. For example, don’t pick astronauts as your main customer, unless you can have access to them for feedback, user testing, etc.

b) The business needs to turn a profit before the end of March.

c) MONEY. No more than £1000 can be put into your business collectively. Instead, it’s assumed you will start with very little funds and then grow organically. No member can invest more than another member of the team. No one can own more than £25 worth of stock in the business. (Yes, you can sell shares, will discuss this on Friday in more detail).

d) Your first product must be made before Dragon’s Den, which is the first Friday of December. Note: don’t make a large amount, as the Dragon’s may give you feedback that will impact your product design/idea. The goal is that by the first week of December, you have identified through trial and error all of the difficulties in manufacturing your product.

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