Teaching an Old Dog Creative Business

If I was asked the top three things I have learnt from this project, I would say firstly it has made me recognize the value and importance of communication between both those you are working with and customers or investors. If we as a group had no communication there would have been no business at all. From brainstorming ideas to finalizing plans it is vital to keep in contact the whole way through. Even if it means a few arguments along the way, without communication a business could collapse.

Secondly it made me understand how important it is for people to bring different things to a business. In our group for example there were people good at the creative side who weren't as comfortable in dealing with the customers and vice versa. From what I saw, it is best to have a range of talents within a business partnership, rather that everyone being talented it the same area.

Thirdly it has given me an idea of how to develop a business and the skills you need to manage it. As I learnt within my group, skills such as organization, decision-making and marketing are vital in allowing a business to work and progress.

(The fourth most valuable thing I have learnt would have to be how to make a blog, or I wouldn't have been able to babble on so much!)

Time to Reflect

If I'm being honest, I came into this project with quite a negative attitude. As someone who has always been useless at threading needles I saw sitting for hours trying to sew as a complete waste of time and thought we'd never sell anything. The more I sewed, the more I complained (to myself as no-one else would listen) and the more I was convinced I was showing early signs of arthritis. I wouldn't go as far as saying I started to enjoy stuffing bits material with wadding, but the more I made, the more positive a felt with how our home-made goodies were turning out.

When we all put what we'd made together, it looked really good and we were all happy with how they had turned out. As we had spent so long making everything, the advertising had been left until the last minute which I would definitely change if I was to do a similar project again. Due to this our posters didn't get put up until the day before our stall, which may have given us less custom than we potentially could have had. The main way anyone knew about our stall was through the Facebook group made a week before the event, and by word of mouth. We did however have our handouts with sweets attached which seemed to bring a few waifs and strays heading towards our table of sickly pink joy.

I think we picked a good spot to sell our goods; right in the middle of the student union on a day where no-one else was around selling anything. This meant we had no competition nearby to lure those as forgetful as myself into buying a last minute mothers day present. People also seemed to think the prices were reasonable and liked the fact it was all hand-made. This may have been so they could claim to their mum's that they'd made it themselves, we'll never know.

On a whole I think we made a good team. Our main flaws were definitely our lack of advertising in good time, and perhaps the amount we spent on materials as we did have quite a lot left over.

A Picture (or 33) Speaks a Thousand Words

Show me the Money

We sold a few items before the stall which were:

6 various sized photoframes
1 brooch
Total =£19.90

Then on the day of the stall we sold:

8 key-rings

5 brooches

4 bathbombs

8 various sized photoframes
Total = £44.70

Sold after stall so far:

1 photoframe

2 doorhangers

1 brooch
1 cushion

Total = £14.00

Total Income = £78.60
Total Profit (£78.60 - £68.83) = £9.77

We are continuing to sell the rest of the goods.

Material World

Our budget was £20 each which made the grand total of £80. At first I thought this was a lot but after researching into the cost of materials and the prices at which we could sell our good it seemed a reasonable amount.

This is how we spent our money:

£0.77 9cmx9cm photo frames x8 (wilkinsons) = £6.16
£0.87 15cmx10cm photo frames x8 (wilkinsons) = £6.96
£0.97 17.5cmx12cm photo frames x6 (wilkinsons) = £5.82
£0.88 20cmx15cm photo frames x4 (wilkinsons) = £3.52
£3.70 50 keyring chains + £2.20 postage (ebay) = £5.90
£2.99 50 brooch pins + free postage (ebay) = £2.99
£0.75 half metre fabric x2 (market stall) = £1.50
£1.00 metre voile fabric x2 (market stall) = £2.00
£0.25 ribbon x4 (harberdashery stall) = £1.00
Selection of buttons (haberdashery stall) = £2.83
Selection of bows (haberdashery stall) = £3.03
£5.00 dress for fabric + 10% discount for damage (new look sale) = £4.50
£1.77 half metre fabric (Etty-Lilly craft shop)
£1.99 half metre fabric (Etty-Lilly craft shop)
£1.87 half metre fabric (Etty-Lilly craft shop) = £5.63
£2.99 x3 craft packs (Etty-Lilly craft shop) = £8.97
£3.01 x2 fabric glue = £6.02
£1.00 bag of boiled sweets (pound shop)
£0.50 bag of sweets x2 (pound shop) = £2.00

Total expenditure = £68.83

The change left over from the £80 was then used for change in our lovely makeshift till.