The final workshop of the Bio Enterprise and Employability module was the Dragon’s Den, held in Bangor’s new Pontio building, on the 6th of December, 2017.
This session incorporated all of Dr. Chris Walker’s lectures concerning forming a business plan, and presenting it.
The day-long workshop consisted of being placed into 9 groups of at least 6, and then having to decide on a business plan based on a series of choices given to us.
My group (Group 6) decided on a variation of a choice given to us; the redevelopment of Treborth Botanic Garden in Bangor into a nature park.
This redevelopment of the Botanic Garden would involve the creation of enclosures, in which endangered and popular North Welsh-endemic and inhabiting organisms shall be kept, as a tourist attraction, for conservation purposes, and as an education and research source for Bangor university, would pay in part for the initial redevelopment.
Our Unique Selling Point was the locally-habituating/ endemic organisms of conservation value of display, such as beavers, roe deer and red squirrels.
Business Plans consist of 9 sections:
- Value Proposition – What the product is
- Customer Segments – Who would buy it
- Customer Relations – Our relationships with customers
- Channels – How we deliver our product to customers
- Key Activities – Physical activities we perform
- Key Resources – Resources necessary for making/ selling/ distributing products and running the business
- Key Partners – Business partners who aid us
- Cost Structure – What the business spends money on
- Revenue Streams – The money the business gains from sales and other means
Going through each section, we formulated what we thought of as a successful and stable business plan.
The groups then proceeded to film 20 second commercials detailing our product and the necessity for it.
Pitch for Group 6’s Dragon’s Den Business
After filming, the groups then displayed the advertisements to the other groups.
For our final task, the groups were required to present our business plans to two ‘Dragons’, Emlyn Williams and Lowri Owen, who would then mark us and give us feedback on ours pitches.
Each group member selected one or two sections of our business model to pitch, with myself selecting Cost Structure and Revenue Streams, calculating an impromptu profit-loss statement for the first year.
Our pitch was well-received, with feedback encouraging the use of and some form of animal-tracking app, and disbelief at my calculations that the business would make a profit in the first year.
I found this workshop to be tiring, but enjoyable.
I feel like I am now definitely more experienced in designing business plans, and intense group work over a short space of time.
I also feel my presentation skills were helped by doing the pitch, especially in regards to presenting ideas thought up of in a limited amount of time.
How this affects my career decisions:
While this workshop hasn’t affected my career decisions directly, I feel it has made me more prepared for careers involving the creation of business plans, and for those involving pitches to important people.
I am still in the mindset of pursuing a career based on Marine Zoology research, or a career in archival/ library work.