LCS Area Board Running a business © LCS Area Board – v2.2

LCS Area Board Todays agenda To answer your questions: What is CP? Why bovver? What should we do? How do we do it?

LCS Area Board Who am I? Name /mobile no. Job, hobbies, YE experience Who are you? Why are you doing Company Programme?

LCS Area Board My role as your adviser Share my experience Answer any questions Help guide your direction Challenge you Counsel you Not to make decisions – its your business!!

LCS Area Board The role of your Link Teacher Facilitator and communicator Has contact with all parties Registers the company To assist with getting school resources Day to day access Ensures effective flow of information from YE

LCS Area Board Why bovver? This could be you...

LCS Area Board Theres a lot to be gained… CELEBRITY CASHCAPABILITY The more you put in, the more you get out

LCS Area Board Dont just take our word for it...

LCS Area Board Youve 4 big decisions to make... 1.Whats our business model? 2.Whats our idea? 3.Whats our name? 4.Who does what? The sooner you decide, the better!

LCS Area Board What makes a successful business? Clear Vision Unity Determination Risk taking Attention to detail Good financial management Sustainability FUN! Happy, motivated staff A great leader Competitive Great communication

LCS Area Board Creative business ideas

LCS Area Board Creative ideas dont come easily Do something new Do something better Do something different

LCS Area Board More advice on your idea... Whatever your idea - think USP What skills or passions do you have? Product or service? What market are you going for? Have you all agreed on the idea?

LCS Area Board Whos going to do what? Director Title Key responsibility Managing Director Company Secretary Finance Director Operations Director HR Director Sales Director Marketing Director IT Director Innovative leadership Communication between the team Management of all financial issues Product development Skills, training and motivation Strategy to maximise sales Defines market and the route to it Clarify IT needs Decide by next meeting and elect MD

LCS Area Board Key events MonthEvent/Action SeptemberInitial meetings, registration, open bank account OctoberDraw up Business, Production and Marketing Plans NovemberYE training event. Trade Fair DecemberPre-Xmas sales opportunities; Assessment review JanuaryBusiness Review; New year sales; Mid-year training FebruaryTrade Fair; Start work on Annual Report MarchArea competition; Continuing sales/trading. April/May/JuneLondon/National finals; Continuing sales/trading. JulyLiquidate company & final review

LCS Area Board Write a one-page Business Plan Company Description: Ownership, location, vision/mission Product or Service: Describe what youre selling. Focus on customer benefits. Market Analysis: Describe your market, customer needs, where they are, how to reach them Strategy and Implementation: How youll go about it. Include actions, responsibilities, timelines and budget Management Team: Backgrounds of key team members Financial Plan: Profit targets, cash flow, balance sheet, break-even analysis and any assumptions Gives you a clear sense of purpose!

LCS Area Board Financial Raising capital Issuing shares Opening bank account Recording financial transactions Online accounting Im here to help!

LCS Area Board Support materials/tools All available to you once you register YE CP Administration AppCompany Programme Kit SCAN OF FRONT COVER HERE

LCS Area Board Next steps 1. Link teacher registers company 2. Read CP Kit* 3. Receives passwords and site access for online administration application* 4. Set agenda for future meetings 5. Address the 4 key issues *Only possible once youve registered

LCS Area Board Have fun and dont panic!