Report to community
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The document outlines the development of Stickah, a student-run venture, from its inception through operations and lessons learned. It describes the business formation, planning, supplier selection, inventory management, organizational changes, marketing strategies, sales tactics, financial reports, and human resources activities. Key challenges included defining the target market, choosing a price point, and learning to effectively communicate and leverage individual strengths within the divided company structure.
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Report to community
- 1. Once Upon a Time…
- 2. Stickah
- 4. Rocket Pitch
- 6. Feasibility
- 7. Business Formation • Elections • Creation of Departments • Deciding on Supplier
- 8. Business Plan • Faulty Market Research • Bad Foundation
- 9. The Beginning of Stickah
- 11. Indecision • No Risk Taking • Unproductive Meetings • TARGET MARKET
- 13. Operations • Ordering • Inventory • Match with Finance
- 14. Suppliers High Quality Expensive 2 weeks Medium Quality Inexpensive 2 weeks Inexpensive Foreign Country 15-20days
- 16. Lessons Learned • Timelines/Deadlines • Communicating with other departments
- 19. Role of Information Technology
- 23. Marketing Mix: Student Venture Product Price Promotion Placement $3.00 • Reynolds • Olin Hall • Trim • Events
- 24. We need a graphs from the last ppt of this with the new numbers • Graphs like this::: (that were on the last formal presentation)
- 25. Marketing Mix: College&Small Business Venture Product Price Promotion Placement Units Price 150 $37,0.50 250 $4,12.50 500 $725 1,000 $1,320
- 26. Sales Tactics CollegeVentureStudentVenture • Quotas • Training Sessions and Guide • Contact • Inform • Closethe Sale
- 27. Actual vs. Projected Sales 0 500 1000 1500 2000 2500Sales Date Actual Cumulative Sales Projected Cumulative Sales
- 28. Sales Per Month $- $100.00 $200.00 $300.00 $400.00 $500.00 $600.00 $700.00 $800.00 $900.00 February March April Sales Month
- 29. Final Sales Number • From Students • From College Ventures (make a pie chart)
- 31. Human Resource Department Conflict Resolution Quality of Life Surveys Performance Appraisals
- 33. 0 2 4 6 8 10 12 14 16 None Little Some A Lot #ofResponses Responses QWL#1 0 2 4 6 8 10 12 14 16 None Little Some A Lot #ofResponses Responses QWL#2 Haveyou encountered any conflicts/problems with any of the employees inStickah?
- 34. 3.8 3.9 4 4.1 4.2 4.3 4.4 4.5 PA 1 PA 2 PA 3 AverageMean PerformanceAppraisal Development of Stickah
- 35. 1 2 3 4 5 Adapts Well to the New Structural Organization of Stickah
- 38. Rocket Pitch Case So it’s recess time. You’ve been waiting for this moment all day because school was boring. You walk out into the sun and you gasp in horror, as there is nothing to do. There are balls,but no one knows what to do with them. There are jump ropes, but no one knows how to do any jump roping games. Imagine a world where the games you usually play are non- existent, and you need to create some form of game to save recess. What form of game would you create? Create a rocket pitch in which you state what the game is, what it would do to fix the problem, why people should play the game, rules of the game, and the target market (what age group, gender, etc is fit to play this
- 40. Notable Quotes • “These students were not even thinking of going to college after high school, and are now considering it after meeting us and seeing what college life is like” – Parker Wood, CEO • “Itwas a fun time for everyone involved and I was impressed with their manners, maturity and their potential to live a greatlife.” – Benjamin Lombardi, VP of Communications • “The breadth and variety of the human experience is easy to forget and overlook, but when you involve yourself personally in the wellbeing and improvement of others you are forced to truly put yourself in their shoes, and step outside your own world, if for a short time.” – Walter Cuge, CFO • “becauseI was talking to a girl who informed me that previous to coming on this trip she was not planning on going to college becauseshe did not think that it would affecther that much, but aftercoming to Babson she saw how much she could learn and how thecommunity fosters growth and it has encouraged her to work hard in high school in order to go to a college like Babson.” – Claire Hobson, VP of IT
- 43. Major Obstacles • Prospective Sales Fell Through • Closed Selling Period Earlier than anticipated
- 45. Control Problems Problems with • Receipts • Inventory
- 47. The Final Push • Door to Door Sales • BasicallyBabson Day
- 49. IncomeStatementFebruary2013 Revenue $ - COGS $ - Gross Margin $ - Web Expenses $ 30 Rental Expense $ 17 Marketing Expenses $ 68 TotalOperating Expenses $ 115 Operating Income $ (115) TotalExpenses $ 115 NetIncome $ (115)
- 50. IncomeStatementMarch2013 Revenue $ 2,511 COGS $ 1,951 Gross Margin $ 560 Rental Expense $ 17 Marketing Expense $ 156 Promotional Expense $ 116 TotalOperating Expenses $ 289 Operating Income $ 444 TaxExpense $ 52 TotalExpenses $ 341
- 51. IncomeStatementApril2013 Revenue $ 850 COGS $ 748 Gross Margin $ 102 Rental Expense $ 17 Inventory Expense $ 471 TotalOperating Expenses $ 487 Operating Income $ (385) TaxExpense $ 11 TotalExpenses $ 498 NetIncome $ (396)
- 52. FinalIncomeStatement 01/01/13-04/24/13 Revenue $ 3,361.00 COGS $ 2,699.35 Gross Margin $ 661.65 Web Expenses $ 30.00 Marketing Expenses $ 223.80 Promotional Giveaways $ 115.72 Rental Expense $ 50.00 Inventory Expense* $ 470.69 Inventory Expense Remaining $ 318.15 Inventory Expense Missing $ 152.54 Total Operating Expenses $ 890.21 Operating Income $ (228.56) Tax Expense $ 63.49 Total Expenses $ 953.70 Net Income $ (292.05)
- 53. Revenue by Venture $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 AdmissionsVenture Sudent Venture Revenue TotalGross Margin COGS
- 54. BreakevenAnalysis B2C Breakeven B2C Fixed Costs 273 Avg. Variable Cost B2C 2 Selling Price B2C 3 Unit Contribution Margin 1 Breakeven Point* 273 Units B2B Breakeven Analysis Fixed Costs 146 Variable Cost B2B 1.02 Selling Price B2B 1.41 Unit Contribution Margin 0.39 Breakeven Point 374 Units
- 55. Biggest Challenges • Definingthe Target Market • Choosinga Price • Finding a means to efficiently Communicate • Learningthe Strengths and Weaknesses of each person • Division of the Company
- 56. Biggest Take Aways • Teamwork • Running and Managing your own Venture • OvercomingObstacles • Importance of Productive Meetings • Flexibility
- 57. Q&A