How not to fail - Enterprise Lecture

Entrepreneur rollercoaster, getontherollercoaster.com
-uninformed optimism
-informed pessimism

5 reasons why businesses fail
1. Failure to adapt to a changing market
-keep up
-be informed
-understand your macro and micro environments
-SWOT your competitors/other practitioners
-PEST your environments
-NESTA -website - marketing
-design week magazine/website
-specialist info what is going on
-jobs

visual arts
-daily rate
-research for dissertation
-legal advice
-jobs and opportunities

2. Failing to continually market yourself
-marketing communication mix

£. Not seeking professional advice when you need it
-collaborate
-identify people who you need (strengths) get them on board and excited
-patience
-execute ideas better than anyone else
-exploratin
-reflection
-travel - find out about community
-dinf different entry ways to your passion
-know yourself
-be willing to say no

Creative Choices
Frank Design
-integrity
-communication
-cultural awareness
-professional skills and organisation
-think like an artist
-problem solve
-creative solutions

Artist
-place
-community
-exhibition
-time management
-2nd job
-network - share idea - meet like minded people - don't lose direction

4. Inadequate Accounting Records
-get accountant - in partnership - share burden
-professional help

5. Disregarding or misenterpreting financial records


PRESENTATION
-Business Plan

1. Demonstrate your product or service
-features and benefits
-target customer - segmentation
-skills and capabilities
-legal status
-SWOT/PEST analysis
-marketing principle - and apply them to a strategy
-problems setting up a business (last 4 lectures)

2. what resources will you need
-equipment
-space
-stock

3. Why will people buy from you?
-unique selling point
-competitors/other practitioners or examples of similar projects
-look at their S&W
-say what opportunites this presents you
-compare prices

4. Marketing Plan
-3 effectice and innvoative methods - explain

5. How much will it all cost
-start up costs
-overhead costs - next 12 month
-direct costs (materials and labour)

Powerpoint
-no more than 10 slides
-visual aid - not a crutch
-hold your notes in your hand
-marketing plan
-costs
-include all points
-do a fab pitch
-get high marks

Interviews
-to get that job
-the business/employer want to hire someone and make a profit, grow the business
-imagine their risk
-right interview technique
-employer watches their competitors
-talk to eachother and know what they are up to
-aware of their environment
-knows what their USP is
-looking for someone who can make a difference
-looking for passion and awareness
-find out who their competitors are
-conduct a SWO|T analysis on them and come up with some opportunities from you findings
-ask them aboout their competitors at interview to show you have some business capabilities
-see what competitors have - say what you have to give the advantage - and weaknesses
-take an interest
-read 3 serious newspapers before the interview (Yorkshire Post, Guardian, Design Week)
-see if you can identify any issues that may be affecting their industry at the moment
-ask them about things that are affecting their business in the world/ industry
-what about Japan
-VAT
-do they have customers abroad

Artsmis
East Street Art
Umbrella - rent a space
the unit - office based in middle of city
Round Foundry Media Centre
Old Broadcasting House - co-working space, network, open plan office
Leeds College of Art
Pop-up Shop
MADE - student market