Business Battle brings together a team of young people to create, implement and evaluate their own business using real money in a competitive market. The programme comprises six steps which are carried out over a week.
Step 1. Ideas generation
An introduction that inspires young people to generate their own ideas, considering the target audience’s wants and needs.
Step 2. Product design, budget and costs
Young people refine their ideas into a final ‘design’, and then research suppliers to create a materials list within their set budget of £40.
Step 3. Logistics and production
Utilising each member’s strengths, teams delegate tasks to create their product/service ready for the market place.
Step 4. Pricing and marketing
Evaluating the production process, pricing structures are decided, as well as a marketing strategy to attract and sell to customers.
Step 5. Sell, sell, sell!
Teams attend a pre-designated market place to advertise and sell the designed products or services to a real customer audience.
Step 6. Reflection
A practical evaluation activity is run. Winners are announced and prizes handed out.
MyBnk trainers excel at engaging with young people. So within no time at all, our MyBnk trainer, Shane, was drawing out their inner creativity.
The group excelled on the course, paying back their loan in full and making a profit of a further 75% on invested capital. Their first entrepreneurial experience really helped to boost their confidence and realise their entrepreneurial potential. B3 Media, a Workspace customer, supported the programme by creating a promotional video of the event.
“I decided to take on MyBnk’s enterprise challenge to develop my skills in business. I really underestimated the amount of planning that goes into making something as simple as a market stall successful, things like market research and identifying our unique selling point”, Emmanuel, young mentee at XLP.
Workspace has committed to expand our support of this programme, funding a further three courses in the coming year.
Watch the MyBnk video here.