Collection: FOEM Report

Weekly Reflections

Week 1 - 12th Feb

This week started off with introductions to the unit and finding our team for the following project. This was a very exciting but also scary start to the week as it meant talking and engaging with new people from the course. Once we were in these groups we had a talk about understanding entrepreneurship. 

During the second workshop of the first week we had to decide the roles between each member. I wasn't keen on being managing director so Büsra took this role. I was quite interested in being Marketing Director due to my background of photography however Hugo was really keen on this role. I finally deiced that I would take the role of Retail Operations Director. I offered to take this role as I feel it will allow me to be creative whilst understanding more about merchandising and analysis of sales and customers. This was also the closest role to marketing director so I am excited  that Hugo and I will work closely.

The last seminar of the week included idea generations and finding the opportunity. Personally I didn't find this seminar very helpful as we ended up discussing products that probably wouldn't have been our idea such as wardrobe organisers. 

 

The following images are our Team Learning Agreement stating that as a group we have all agreed on everything and that we will abide by the university rules. This had to be handed in before our summative pitch presentation. 

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Week 2 - 19th Feb

This weeks workshops included development of the product and research into the market of the necklace. Our discussion started off with the idea of star signs and we looked into the theory behind this. We developed the idea into the design of constellations of each star signs I feel this subject is a good idea and it is something we can develop into a good product that people will be interested in. 

In Tuesdays meeting with our tutor, we discussed the options of manufacturing and who we need to contact to be able to pull this product off. Yuting is our product and souring director so this is predominantly her role. 

Our seminar on Thursday we had to decide what Business Model our group will be focusing on using the FTE (Foundation for Teaching Economics) Canvas. In the end we decided on the LCF Enterprise Team's Start-up Canvas. We have delegated the sections up between the group so it was even, I am writing up the Purpose and Resilience section. For purpose, I discussed that we chose our product due to an interest in the star signs. Under resilience, I talked about how each of us will focus on our own roles but always allow and invest time into helping each other considering this is a group project. 

Week 3 - 26th Feb

This week started with a seminar discussing fabrics, however this was not very helpful as our group is focusing on jewellery and therefore doesn't need to consider fabrics. However, this has started a discussion on what materials we need to source and find to be able to make our product. 

As the same for every Tuesday, we had our progress tutorial. This tutorial led to the decision of engraving the necklaces ourselves as this will reduce production costs. 

The second workshop of the week involved talking to other groups about our business. This turned out to be very helpful as the group stayed behind after the workshop and decided on what materials we wanted and purchased them. We bought 50 stainless steel 'dog tags' and 50 snake chains from 8Seasons - an online wholesaler. We also bought 100 drawstring bags which the necklace will be put in when sold. 

Individually we spent £15 on this, leaving £5 left over from our own personal budget. Due to this, we have minimised the production costs however we still need to invest in the engraving tool. 

The last workshop of the week was discussing our Business Model Canvas with a tutor. During the meeting I didn't find this very helpful as it felt like he was telling us everything wrong/unoriginal about our product. However, he gave us the idea of engraving the flip side of the coin with either the customers initials or their star sign and giving them the option of this. 

Week 4 - 5th March

The first seminar of the week was based on Cash flow and understanding product pricing and costing. I am not very good with finance and I don't find it very interesting, however, I tried my hardest to understand it. 

Progress tutorial 

Our last seminar of the week was based on crowdfunding. We will be using Crowdfunding Campus to help advertised our campaign. We will create a video using 12 different people to demonstrate the 12 different star signs. To use crowdfunding we have to give an incentive to customers to invest into our business. An example of this would be giving them the first products.

Week 5 - 12th March

This week started off with a seminar about videography and photoshoots, having a background of photography, I found this very interested and have decided to take the role of the photographer for our business. This seminar also helped us to finalise our crowdfunding video of the 12 different people. I will be shooting the video with the help of the other team members. 

This week was our summative assessment, where we had to do a pitch presentation. My role in this presentation was to discuss the visual merchandising of the spitalfields store, the website creation and the analysis of sales. This went well and we received a B grade and the £100 funding money from the university.

Week 6 - 16th apr

The first session of the week was a lecture discussing Spitalfields with a Q+A. This was helpful as this gave us information that we didn't already know. We will have to share a stall with another group which is helpful to know as I can therefore decide on how to visually decorate the store. 

The next session was a seminar about 'The Seamless Omnichannel Experience'. 

 

The last seminar was based on portfolio creation, this was very helpful ads it helped me to gain an understanding of what our final portfolio would look like. 

week 7 - 23 April

This week was very interested as it included web design and visual merchandising. Both of these are my roles. 

 

From this web design workshop I then started to look into different online websites that allow you to create your own product - I finally settled on a free website after discussing finance with the finance director. Its called FreeWebStore and allows you to put unto 30 different products. 

Week 8 - 30th April

The first workshop was on finance management. I am awful with finance so struggled with the finance however, I managed to follow it all the way through in the aim of gaining an understanding. 

Stock management was the last workshop of the week which was important for me as this was within my role. The online website allows you to follow stock management. However we also talked about it in our group about the best way to do this management and inventory control. 

Week 9 - 7th May

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Week 10,11,12

These next three weeks involved the final touches to website. This involved having 12 sample necklaces produce so that I could photograph them and upload them. 

I really enjoyed doing the photography as it was something different to what I had been doing. 

However, this was a very stressful time as everyone was hurrying doing their roles to make sure we had everything for the online platform as well as the spitalfields market stall. Due to this we had hardly any team meetings - I think this was a problem as we couldn't discuss what else needed doing and where we were headed and if we were on track with everything. We had a group chat however it doesn't make things very easy. 

Week 13 - 4th June

This was our last week of the business and I thoroughly enjoyed it. 

In this week we received 18 sales online through the website and 6 sales at spitalfields. 

My role at spitalfields was to visually merchandise the stall. I liked this as I could be creative as well as work behind and work with the cash flow. WE worked very well as a team at the market and seemed to be approachable.