Trade Fair photos

A few photos from the day taken by the university photographer Ezzidin Alwan.

Many thanks to all teams for a fantastic day of learning and excitement!

The prizes on the day went to:

BEST PRODUCT – £60 PRIZE: TEAM FACILE
BEST SALES TEAM – £60 PRIZE: TEAM MASTERLY
BEST TRADE STAND – £60 PRIZE: TEAM 7THIRTY
BEST OVERALL COMPANY – £100 PRIZE: TEAM 7THIRTY

Congrats, teams! 🙂

If you have any photos from the day, please share them in our Facebook group – thank you!

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The Reader’s Digest – A pick of January blog posts

– This selection of blog posts provides an overview of your ongoing work and reflections as you have entered the second term and started selling your products in trade fairs.

The LEGO Serious Play activity has been extremely popular among MACE students, with some interesting reflections on the role of play to enhance creativity; as well as on the challenges and the enjoyment encountered in ‘thinking with hands’. How can you apply this design thinking technique to your business context? How would you materialize the vision of your company with a LEGO artifact? Here’s are some interesting reflections:

http://www.styljanje.com/?p=6759

https://ranaventures.wordpress.com/2017/01/22/the-importance-of-play-and-the-meaning-we-give-to-creativity/

Others have enjoyed Yannis’ lecture on crowdfunding and learnt about how to fund a start-up. The next step is thinking about how you can actually use this in practice in order to fund your start-up and reach a break even point. Some nice summaries:

https://mynewlife999.wordpress.com/2017/01/17/how-to-finance-that-first-step-and-get-your-hands-on-some-cash/

https://mickmace16.wordpress.com/2017/01/23/financing-start-ups-through-crowdfunding/

And finally, the start of the new year and the beginning of a term rich of new and exciting activities has spurred a lot of reflections, reviews, and propositions for the future. Some interesting lessons learned:

https://namithashanmugam.wordpress.com/2016/12/29/recapitulate/

Thanks for sharing your posts!

 

 

28 start-ups preparing for Trade Fair I

Kingston University Trade Fair
Kingston Business School Atrium
Thursday 26 January
12:30 set up
13:00 – 17:00 Trade

Let the fun begin! Next week, on Thursday 26 January, you will be presenting your products to the public for the first time. 18 undergraduate and 10 postgraduate start-up teams be participating in the trade fair. This trade fair is compulsory for all students.

The purpose of the trade fair is put you in front of your first real customers who will test your product assumptions, your skills and your entrepreneurial attitudes. Of course, we want you to sell your products too.

On the day, I will collect £10 from each team. The money will go towards cash prizes, awarded in 4 categories:

Best Product – £60 prize
Best Sales Team – £60 prize
Best Trade Stand – £60 prize
Best Overall Company – £100 prize

 

3 judges will be present on the day: Best Product judge, Best Sales Team judge, and Best Trade Stand judge. They will be visiting your stands and talking with you, and at the end of the day, they will decide on the winner.

So, it will be an exciting day with lots of learning to take on board, so make sure you prepare:

  • Have you got your product ready? Packaging? How will your customers take your product away? If your product isn’t ready – what will you do on the day?
  • How much is your product? Bring plenty of change, and a money box too. Who will look after the money? Make sure you are recording your sales and keeping your books in order. We will be recording your sales week by week.
  • Will you make a team trip to assess and consider the implications of the venue? Each team will be given two small square tables (as in room KHBS0027) but how your stands looks and what it does is up to you.
  • Your stand helps communicate your story. Whatever you put on your stand will communicate something to your visitors – you need to understand and control that communication. You need to delight your customers.
  • Unless you are a party company – you should have no balloons on the table. Unless you are selling sweets and soft drinks – you should not have any on the table. Over the years, we have seen sweets, cans, dead branches and even dead goldfish on trade stands. You do not want to advertise poor decision-making to any visitors.
  • Pinterest is a good inspiration resource – start with a simple “display design” search. Please THINK about what you want and need to communicate and TEST if what you are planning is telling the right story.

  • Do not pay for banners and similar products – this is not a corporate trade fair and what the exercise is about. However, think about business cards as items visitors are willing to take away to remember you even if they don’t buy from you on the day – what else could you use?
  • Do not spend lots of (company) money on your stand. Instead, search for smart ideas that cost little and can be delivered with effort and imagination. If you spend lots of money at this point, you will not be able to redevelop and improve. On Friday 27 January, we will be analysing your display design, packaging and branding in class and you are expected to improve based on this feedback and learning. We are in an iterative process – your learning from this trade fair will inform your next trade fair.
  • P.S. think about different sides, perspectives and heights of your stand (tables). Don’t forget that jackets and bags under the table will show (and communicate) unless you think about this part of the stand in advance too. The solution is not necessarily a tablecloth.

  • Be there on time – as you need to set up. If you are late and not already trading when our judges start their rounds, you are sabotaging yourself alongside looking unprofessional in comparison to every team that made it on time.
  • How will you dress to look the part? What is ‘the part’? Will your entire team stand at the stand the entire time? Will you be waiting for visitors to come to you or will you make an effort to go and get them come to your stand?
  • What will you do between now and next week to let everyone know there is a trade fair going on? Where will you promote? How? To whom? Promoting your own business? Promoting the trade fair?Consider how MACE team effort could benefit you all. If you don’t promote – who will you sell to on the day?
  • Talk with mentors and students from previous years!Use their knowledge and experience…
  • Don’t forget to smile.

We are starting off in the safe environment of the Business School, but you have just over a month to build your confidence and skills for the Kingston Market Square Trade Fair in March.


SCHEDULE FOR THE DAY:

12:30 Arrival, set up

13:00 Start selling

14:00 Judges start judging

16:00 – 16:15 Judges announce winners: Best Product (£60), Best Stand (£60), Best Sales Team (£60), Best Company (£100)

16:45 Clear up

17:00 End


As always, all questions are welcome. Please post them under this post as comments so that the whole class can learn from them.On Friday, we will also spend some time in class discussing your questions. There’s no such thing as a stupid question, so ask away! 

Fire up & start doing! Plan of action

Happy New Year and welcome back!

Our last session together before holidays, our Dragons’ Den, was a great experience for everyone involved, but exhausting for you – we know. We hope you’ve all had some time to recharge because now is the time to fire up and start doing. Semester 1 was training and prep but now is the time to fly the nest.

Dragons Den

Image by Fernando Trueba, 2016

Here is the plan of action for semester 2. This is the only notice needed for responsible and respectable business owners to plan accordingly. Please note all sessions are compulsory.


Friday 13 January 14:00 – 18:00 KHFL2011

SEMESTER OVERVIEW

CREATIVE FINANCE – RAISING FINANCE

TEAM STAND-UPS (update on progress since the Dragons’ Den + planning + set targets)

After this session, you will start developing your crowdfunding campaign. For common mistakes, see https://www.youtube.com/watch?v=8jpBmFSzPxg

From this day, you will be reporting your weekly sales once a week. Set targets for each team member so you all know what you are working towards. 


Friday 20 January 14:00 – 18:00 KHBS0023 (lab)

FINANCE: ACCOUNTING

You will need your Young Enterprise login information so you can access your accounts. Bring details of transactions already made so you can get assistance recording these. Also, please identify issues (VAT, pricing, break-even calculation, stock valuation, cash flow etc.) you would like clarified during the session.

Special instructions for the Innovatio team: do not to delete your sample entries, as Fazl would like to show these to other teams so that they can see actual entries on the YE online platform.


Thursday 26 January 13:00 – 17:00 Kingston Business School Atrium

TRADE FAIR 1

You need to have product on the table, ready to sell! £10 stand fee per team – paid towards prizes for the Best Stand, Best Product, Best Sales Team, Best Overall Company (3 judges will be making rounds on the day). Tables will be provided. Detailed instructions to follow.

Note: 4 trade fairs will be arranged for you, but you should look for other opportunities and places to sell your goods.


Friday 27 January 14:00 – 18:00 KHBS3036

DISPLAY DESIGN, PACKAGING & BRANDING 1

This session will be led by the Best Stand judge who will use your first trade fair to critique your stands/products to help you develop your packaging and branding. 


Saturday 28 January + Sunday 29 January

TRIGGER KU START-UP WEEKEND

Trigger Weekend = stage 2 of the Bright Ideas judging process

Find out more and book your place 


Friday 3 February 14:00 – 18:00 KHBS1002

SOCIAL MEDIA & NETWORKING

You will need a completed draft of your Social Media & Networking Report assignment for this session. Download the template from StudySpace.


Wednesday 8 February (time TBC)

BRIGHT IDEAS COMPETITION FINAL

You will be getting official invitations as you entered the competition. Note: Decide now how you want to spend the money as a team if you win.

TRADE FAIR 2a @Bright Ideas Final

An opportunity to set up a stand and sell your products during the Bright Ideas Final. Having your stand set up and selling during the drinks reception is a good opportunity to make contacts and get further feedback on your product.

TRADE FAIR 2b @Old Spitalfields Market

An opportunity to set up a stand and sell your products as part of Young Enterprise Pan London Trade Fair 2017. All info and joining instructions published on StudySpace. Please note that places are extremely limited and not guaranteed unless you book with a deposit.


Friday 10 February 14:00 – 18:00 KHFL0014

SALES WORKSHOP


Reading Week 13 – 17 February 

Individual selling opportunities organised by individual teams.


Friday 24 February 14:00 – 18:00 KHBS1002

DISPLAY DESIGN, PACKAGING & BRANDING 2

ADVERT FILM FESTIVAL

Our own film festival where you will show 60 seconds’ adverts for your products. 


Friday 3 March 14:00 – 18:00 KHBS3036

PITCH PERFECT

Showcase: your business model + value proposition + customer journey + crowdfunding campaign (including branding, adverts, digital strategy) in action

+

SOCIAL MEDIA & NETWORKING REPORT ASSIGNMENT

DUE by 23:59 on Turnitin


4 March 8:00 – 18:00 Kingston Town Centre (TBC)

TRADE FAIR 3

Trade Fair to be held in a high traffic area of the Kingston shopping district. It will be outdoors. Details of this location to be revealed as the town council is approving our application for space. £10 stand fee per team – paid towards prizes for Best Stand, Best Product, Best Sales Team, Best Overall Company (3 judges will be making rounds on the day). Tables will be provided. Detailed instructions to follow.


Friday 10 March 14:00 -18:00 (rooms TBC)

MOCK DRAGONS’ DEN

Final practice run. With external judges. Deadline for Team Business Reports. 

+

TEAM BUSINESS REPORT ASSIGNMENT DUE by 23:59 on Turnitin


Friday 17 March 14:00 – 20:00 Kingston Business School (rooms TBC)

FINAL DRAGONS’ DEN

To be held in the afternoon and evening in the Business School. You will be competing against 18 undergraduate business teams. The top team chosen by a panel of external judges will be going to the National Start-up Final (typically the first part of May, date TBC). Winner of the National competition gets an all-paid trip to the European competition.

Please note: winners will be kept secret and announced during the Celebrate Enterprise event.

TEAM BUSINESS REPORT ASSIGNMENT DUE in class, during the TEAM PRESENTATION


Thursday 23 March 16:30 – 20:00 Penrhyn Road Campus

CELEBRATE ENTERPRISE CEREMONY + TRADE FAIR 4

http://bizboard.kingston.ac.uk/celebrateenterprise2016/

Celebrate Enterprise is the annual event at Kingston University when we celebrate success and achievements in entrepreneurship and enterprise.

The awards evening will take place on Thursday 23 March 2017, starting with a student/graduate fair from 4:30 PM.

Look at student nominations categories and nominate a classmate – you can even nominate yourself! Deadline for your nominations 12pm Wednesday 9 March 2017.


Friday 28 April by 23:59 on your blogs + on Turnitin

FINAL BLOG POST = REFLECTIVE ESSAY ASSIGNMENT

(30% of module mark)

+

TOP BLOG AWARD

Awards for the best blog of the year, as voted by you.

Hint: start reading your classmates’ blogs now if you’re yet to start.


(Plans sometimes change – if that happens, we will let you know immediately.)


It is going to be an exciting semester – buckle up & enjoy the ride!

See you all later!