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Take Ten #2
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Welcome to the Tenner Challenge - week 2!

We hope your Tenner Challenge has got off to a flying start and that your students have had some ingenious business ideas. Over the years we’ve seen many Tenner businesses including duck races, live auctions and even dog toys and we’re sure your students have got even more creative ideas!
 
This year, we have more schools than ever before taking part – a whopping 570 schools have registered so far - and registration doesn't even close until tomorrow! Tenner is a fantastic way to help young people develop vital skills and so we are delighted so many of you are taking part.

Reminder - Weekly Competition 1


Logo
Our first Weekly Competition was to take a photo of your company logo and upload it.
 
The deadline is tomorrow, Friday 26 February, 5pm
 
We look forward to seeing all the creative designs and will announce the winner and runners up in next week’s edition!

Weekly Competition 2


Sales Pitch
If you were to meet a potential investor (Richard Branson, Deborah Meaden) in a lift, how would you persuade them to invest in your business in the time it takes to get from one floor to the next? You should prepare a 1 minute maximum sales pitch to explain what your business does and why it deserves to be invested in.  Record the pitch on your phone/video camera and upload it.
 
The deadline is Friday 4 March, 5pm
 
Please ensure all files are saved as an MP4.
 
For further details about all the competitions please view your online Toolkit under ‘Important Resources’. If you have any problems entering the competition please contact us as soon as possible, before the deadline.

Guidance - Week 2


Market Research
Teams will need to carry out some market research to determine details about their product/service. You can help them to do this by:
  • Defining market research
  • Get them to think about - questions they could ask people to make sure that the product or service appeals to their customers? And who could they approach to answer their questions?
  • Asking them what the research told them
Finance
Teams will need to record their finances throughout the Challenge.  To do this they will need to:
  • Learn how to record their finances – a simple template is available in your online ‘Toolkit’
For full guidance, please see ‘Getting Started’ in your online Toolkit under ‘Lesson Activities’.

Evaluation


We need all participants to complete a pre evaluation questionnaire. Please ask your students to complete this in their unique area of the website – we promise it will only take a couple of minutes! And if all your pre & post questionnaires are completed by Thursday 31 March 2016, your school will be entered in to a prize draw to win a FREE Young Enterprise secondary class based programme!  To view the full terms and conditions please go to your online ‘Toolkit’.

Tenner News


Why should we encourage young people to think sustainably?
In a recent article for Real Business, Michael Mercieca, Chief Executive of Young Enterprise, explored this year's Tenner sustainability theme:

"A sustainable business should encourage staff to consider how their organisation can make a long term positive impact on the local and global environment.

"From commitment to the eradication of slave labour and improving factory conditions in the developing world to tackling climate change, the role of businesses in safeguarding our future should not be underestimated.

"It is incredibly important to get young people, the next generation of employees, employers and entrepreneurs, behind sustainability missions...We shouldn’t just be presenting problems to them, however; we need to educate young people about how to address these serious issues."

Read the full article on the Real Business website.

How has your first week of the Tenner Challenge gone? We want to hear all about it so please send us photos, case studies, good news stories by email or on Twitter (#tennerchallenge) so we can share your great work! 

Young Enterprise

Yeoman House Sekforde Street London EC1R 0HF
Telephone 020 7549 1980 | Fax 020 7549 1989

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