The Levi Roots business challenge involved developing a series of recommendations that would be unique to the Levi Roots Business Club, that would support the growth and development of student enterprises. We had to consider the current challenges faced by student start-ups including; Post Brexit, scaling up, sales and marketing, finance, how start-ups can make inroads across sectors in all markets and development of digital skills.
Our Ideas and Recommendations Included...
Brexit is inevitable we can’t stop it, so instead of seeing it as a doom and gloom, they could capitalise on the new trade deals inside and outside of the EU that will be made in the Post Brexit era. Teach start-ups that even in a no-deal Brexit the domestic market in the UK is massive and they can still grow and develop within the UK.
Sales and Marketing
For sales and marketing, the importance of online technology is huge, for start-ups, the Business Development Club needs to teach and help guide students to acknowledge that business in the future will be done more and more online. They need to make sure their business can adapt to going online.
Surrounding the development of digital skills, the Business Club needs to help set up workshops and programmes that help teach students how to; code, create websites and access digital platforms. Due to the fact that small start-ups don’t have the same budget as a major FTSE 100 company, they’re at a disadvantage as they simply don’t have the finance or budget to employ web developers and programmers. Therefore, teaching students who are creating businesses about coding and digital skills will be vital, especially for the future, and the way the world is heading it’s becoming more and more online.
Finance is a major problem for start-ups, as it’s all about how to control your cashflow and budgets, as this is one of the major reasons start-ups fail is due to poor cash flow management. Therefore, our idea was to teach the entrepreneurs about how to manage cashflow, how to spend wisely and work out what is the most important things to spend money on their business.
Pitching to Levi Roots
Pitching to Levi Roots was an unusual experience due to many things. Firstly, this was the first time I’ve ever had to pitch an idea towards someone that is so successful, and actually would want to incorporate your ideas into his business. Secondly, we had little time to prepare for the presentation as the idea was that we were in a pressured situation, leading us to think on our feet. Levi Roots is a very sophisticated character and an intelligent entrepreneur. Pitching ideas was a similar task to what he had to for Dragons Den, just obviously not as high-key, and we pitched our recommendations to him in the hope he would take them on board, which is a little unusual.
I think this business challenge is going to help me in the future in a number of ways, it helped me understand how to present in a formal manner. It has taught me I need to work on my presentation skills, as Levi Roots himself said our brief was good however our presentation wasn’t, due to us being under-prepared for it. It gave me the confidence to not be scared of speaking to large group of people. I believe this will come in handy when moving into the ‘real world’. It has helped link parts of my course to real life as well, and I have learned things from my lecture that I have then put in place in the real world of business.