Enhance your curriculum by addressing the QAA Guidance on skills for your subject, and incorporating the QAA (2018) Guidance on Enterprise and Entrepreneurship.

QAA Benchmark Statement

Providing resources and support to those working with pre-starts, start-ups and busineses.

Embedding Enterprise

The following ETC tools can help you to deliver these skills in the curriculum

How To Guides

These guides have been selected to build QAA (2018) enterprise skills in your teaching.


Big Ideas Wales: How Do We Generate Ideas?

Group Size ? 1.) Small group (teams of 4-6)
2.) Individual Task
3.) Large Group
4.) Any

Small group (teams of 4-6), Large Group

Learning Environment ? 1.) Lecture Theatre
2.) Presentation Space
3.) Carousel Tables (small working group)
4.) Any
5.) Outside
6.) Special

Lecture Theatre, Presentation Space, Carousel Tables (small working group)

QAA Enterprise Theme(s) ? 1.) Creativity and Innovation
2.) Opportunity recognition, creation and evaluation
3.) Decision making supported by critical analysis and judgement
4.) Implementation of ideas through leadership and management
5.) Reflection and Action
6.) Interpersonal Skills
7.) Communication and Strategy
8.) Digital and Data Skills

1Creativity and Innovation 3Decision making supported by critical analysis and judgement 7Communication and Strategy

www.bigideaswales.com

Download 'Big Ideas Wales: Enterprise - Skills and Behaviours' here.

 

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About the Author
This guide was produced by Syniadau Mawr Cymru / Big Ideas Wales.

A Compendium of Pedagogies: THE USE OF AN ELEVATOR PITCH (QAA 7)

Group Size ? 1.) Small group (teams of 4-6)
2.) Individual Task
3.) Large Group
4.) Any

Individual Task

Learning Environment ? 1.) Lecture Theatre
2.) Presentation Space
3.) Carousel Tables (small working group)
4.) Any
5.) Outside
6.) Special

Presentation Space

QAA Enterprise Theme(s) ? 1.) Creativity and Innovation
2.) Opportunity recognition, creation and evaluation
3.) Decision making supported by critical analysis and judgement
4.) Implementation of ideas through leadership and management
5.) Reflection and Action
6.) Interpersonal Skills
7.) Communication and Strategy
8.) Digital and Data Skills

7Communication and Strategy

Objective:

The main benefits of this approach are to enable students to pick up the skills to summarise something in a focused and precise way. The outcome is often that they are aware how important lucky opportunities can be in entrepreneurship and to prepare for such opportunities should they occur.

Overview:

An Elevator Pitch (or Elevator Speech) is a brief overview of an idea for a product, service, or project. The pitch is so called because it can be delivered in the time span of an elevator ride (say, thirty seconds or 100-150 words). The term is typically used in the context of an entrepreneur pitching an idea to a venture capitalist to receive funding. Venture capitalists often judge the quality of an idea and team on the basis of the quality of its elevator pitch, and will ask entrepreneurs for the elevator pitch to quickly weed out bad ideas. 

Activity:

In the entrepreneurship educators programme the elevator pitch is used to force participants to think carefully about their personal strengths and to be confident about these by making an explicit pitch. Within the entrepreneurship educators programme it is used to give participants experience of an elevator pitch. The basic approach is to invite individuals to develop their pitch beforehand with a strict time limit (usually 1 to 3 minutes). Participants are asked to compete in front of a panel of judges equipped with agreed judging criteria. Participants are lined up to encourage swift movement from one participant to another and they are timed – a whistle is blown at the end of the time and they must then depart.

Skill Development:

Elevator Pitches are commonly used in US Enterprise Education and are often used in business plan competitions. The purpose is to force students to prepare a short and focused explanation of their business should they have the opportunity to pitch it to somebody in an informal situation. It is an encouragement to think out the core of the business and find attractive ways of putting it over.

Resources:

  • A Compendium of Pedagogies for Teaching Entrepreneurship. Professor Alan Gibb and Professor Alison Price - Download (PDF)

References:

About the Author
This guide was produced by Professor Allan Gibb and Professor Alison Price.

Your How To Guide Here

If you would like to have your How to Guide featured, please download the template and email the completed version to hello@etctoolkit.org.uk.

We have produced a guidance sheet which will assist you in completing the How to Guide.

If you have any questions regarding completing the template, please Contact Us.

Case Examples

Your Example Here

If you would like to have your Case Study featured, please download the template and email the completed version to hello@etctoolkit.org.uk.

We have produced a guidance sheet which will assist you in completing the Case Study.

If you have any questions regarding completing the template, please Contact Us.

Embedding Entrepreneurship

If you or your students are interested in developing a business idea, becoming self-employed/freelance or creating a business here are some tools to help and also some links to business start-up support.

How To Guides

These guides have been selected to build QAA (2018) entrepreneurship skills in your teaching.


Big Ideas Wales: Self Knowledge

Group Size ? 1.) Small group (teams of 4-6)
2.) Individual Task
3.) Large Group
4.) Any

Any

Learning Environment ? 1.) Lecture Theatre
2.) Presentation Space
3.) Carousel Tables (small working group)
4.) Any
5.) Outside
6.) Special

Any

QAA Enterprise Theme(s) ? 1.) Creativity and Innovation
2.) Opportunity recognition, creation and evaluation
3.) Decision making supported by critical analysis and judgement
4.) Implementation of ideas through leadership and management
5.) Reflection and Action
6.) Interpersonal Skills
7.) Communication and Strategy
8.) Digital and Data Skills

5Reflection and Action

www.bigideaswales.com

Download 'Big Ideas Wales: ENTREPRENEURSHIP - Skills and Behaviours' here.

 

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About the Author
This guide was produced by Syniadau Mawr Cymru / Big Ideas Wales.

Capacity Planning (recognising business constraints) (QAA 3, 4)

Group Size ? 1.) Small group (teams of 4-6)
2.) Individual Task
3.) Large Group
4.) Any

Small group (teams of 4-6), Individual Task

Learning Environment ? 1.) Lecture Theatre
2.) Presentation Space
3.) Carousel Tables (small working group)
4.) Any
5.) Outside
6.) Special

Any

QAA Enterprise Theme(s) ? 1.) Creativity and Innovation
2.) Opportunity recognition, creation and evaluation
3.) Decision making supported by critical analysis and judgement
4.) Implementation of ideas through leadership and management
5.) Reflection and Action
6.) Interpersonal Skills
7.) Communication and Strategy
8.) Digital and Data Skills

3Decision making supported by critical analysis and judgement 4Implementation of ideas through leadership and management

Objective:

  • To ensure that the business owner calculated and taken into consideration the factors that may place limits or constraints on the business productivity.
  • To give clearer picture of how the business will be managed on a day to day basis.
  • To show that capacity plan relates directly to business sales and cashflow forecasts.

Overview:

This activity is designed to provide an opportunity for the entrepreneur/ small business owner to estimate the capacity of their proposed business in the tables, then summarise this information and consider what measures they would take if they were not working to full capacity or if were working to overcapacity. 

Activity:

How many hours per week will you require to fulfil all the functions of the new business?

By reflecting on the business presented, does the entrepreneur/ small business owner already have some equipment, stock, staff, premises and how much total hours/time spent in service, production, preparation etc. that are/can be used in the business?

 

  1. how many hours will be spend making product, designing advertising leaflets, writing new menus, dealing with telephone enquiries, making sales, ordering stock, shopping, cleaning the premises etc.?
  2. Will the business requires additional staff either at the start or once sales increase, which would increase production demands?
  3. What is the most beneficial role for new staff to play?
  4. Choosing the right person for the right job is crucial in order to maximise the effects of the financial outlay on business profits?
  5. Estimating the right level of stock?
  6. Need investing money in lots of equipment?
  7. Do you need space in your business?

Once the entrepreneur/ small business owner have broadly identified the above issues, it’s advised that they conduct an in-depth capacity planning exercise analysis covering areas and sections as follows:

Time

  • Think about the hours of business you will operate (opening hours). Will this be 9-5 or will your hours be more flexible i.e. longer hours, evenings or weekends?
  • How many hours a week will be spent in production, design or ordering and controlling stock?
  • If you are making/manufacturing a product how many products can you make in a day?
  • How much time will be spent interacting with customers, selling and travelling?
  • Take into account the additional activities that will take up your time on top of production and sales.
  • At what point will you employ staff, work with a partner or subcontract?

 Staff

  • Decide if and when you will need to employ staff.  
  • Include information about their roles, necessary skills and experience, any training they may require, working hours and levels of pay.
  • Give details of any rota that you will be working to.
  • Include job descriptions and C.V.s in the appendix.

 Stock: Thinking about your stock levels:

  • How much cash can you afford to tie up in stock?
  • How quickly can your suppliers deliver?
  • How regularly will you need to re-order?
  • How frequently will you change/up-date your stock lines?
  • Will you stock high turnover / low profit items or high profit / slow turnover items?
  • Will you have any special storage requirements for stock e.g. temperature, valuables?
  • Will you require a license to store stock e.g. hazardous substances, livestock?

 Equipment

  • Is the equipment absolutely necessary?
  • What equipment will you require should you expand to provide further services?
  • Who will operate it and will they require training and/or a licence?
  • What insurance and maintenance will be required for the equipment?
  • Should you lease or purchase?
  • Have you got the space?

 Space

  • Are you going to work from home, will you expand to an office or unit?
  • Will you need space for storage of stock and equipment?
  • How will you secure/insure this space, do items require special conditions e.g. temperature, ventilation?
  • Will you need more space with an increase in staff?

Once the above capacity issues have been completed, it is only then that the operational aspect of running the business can be estimated. The owner will have to calculate whether the cost involved will increase production capacity sufficiently to meet demand and still make a profit or the other way round.  If operation costs are higher than at first anticipated, it may be that the new business owner needs to re-evaluate these costs. For example, consideration of renting items of equipment instead of buying, subcontracting production.  Time, equipment, space and stock are all linked together and dictate the production capacity of the business and also consider staffing. 

 

About the Author
This guide was produced by Huda Mamoun (Senior Business Advisor, The Women's Organisation).

Developing a Personal Survival Budget (QAA 3,4)

Group Size ? 1.) Small group (teams of 4-6)
2.) Individual Task
3.) Large Group
4.) Any

Individual Task

Learning Environment ? 1.) Lecture Theatre
2.) Presentation Space
3.) Carousel Tables (small working group)
4.) Any
5.) Outside
6.) Special

Any

QAA Enterprise Theme(s) ? 1.) Creativity and Innovation
2.) Opportunity recognition, creation and evaluation
3.) Decision making supported by critical analysis and judgement
4.) Implementation of ideas through leadership and management
5.) Reflection and Action
6.) Interpersonal Skills
7.) Communication and Strategy
8.) Digital and Data Skills

3Decision making supported by critical analysis and judgement 4Implementation of ideas through leadership and management

Objectives:

  • To ensure the potential new business owner knows exactly how much income the business needs to sufficiently generate, in order to cover personal living costs to survive.  

  • To analyse how financial circumstances may change when becoming self-employed.

Overview:

When setting up a business, the first thing to do is work out exactly how much money the business needs to make to support the individual.  This ‘Personal Survival Budget’ activity is designed, so that the new business owner knows exactly how much money the business needs to make, in order  to support and cover personal expenditure.  This is critical to ensure that business and household expenses are kept separate and to support business decision making and planning.

Activity:

This takes approximately 20-30 mins to complete the template below.
1. First of all, remember that you are only calculating your personal expenditure, not any expenses the business may incur.
2. Ensure that you include all of the items that you have the responsibility to pay for in your household. If you have any other items of expenditure that do not appear on the list, include them in the ‘other’ box.
3. Secondly, remember that your financial circumstances will change when you become self-employed, as you will begin paying class two national insurance contributions monthly, and any benefits that you are currently entitled to, such as housing/council tax benefit, may reduce or stop. If you are not sure what benefits you may be entitled to, seek advice from a Welfare Rights Advisor.
4. Finally, the budget is based on your expenditure per month, so if there are bills that you pay weekly, quarterly, or annually, remember to divide them by the appropriate amount.

Items of Expenditure

Monthly £

 

Rent/ Mortgage

£

Council Tax

£

Water

£

Utilities (gas, electricity, water, oil, etc

£

Phone

£

Food

£

TV License

£

Home/ Life Insurance

£

Loan/ Credit cards/ personal debt repayments

£

Newspapers/ Magazines

£

Car Tax/ Insurance

£

NI Contributions

£

Saving Plans

£

Other

£

Total Expenditure

£

 

5. Now that you have established your average monthly expenditure, the next step is to identify any income that you may already have, or possibly claim for, to help meet this expenditure. Again remember that this is a monthly budget. Depending on your personal circumstances, you may receive some, all or none of the items below:

Estimated Income Outside Self-Employment

Monthly £

Income from family/partner - parents

£

Part-time job

£

Full-time job

£

Benefits

£

Other income

£

Total Income Outside Self-Employment

£

6. To give a new business the best chance of survival, it is best to minimise your drawings as much as possible in the first year to avoid getting into debt. For this reason we establish the minimum drawings that you could take form the business and ‘survive’. This is calculated by taking the total income (above) from the total expenditure . What remains will be the minimum amount that you could draw from the business per month in order to survive.

Minimum drawings calculation

Monthly £

Total expenditure

£

Total income outside self employment

£

Total expenditure less total income

£

NB. In some cases, your income may exceed your expenditure. This occurs when there is already enough income coming into the household to cover all the bills, and drawings from the business are not ‘necessary’. In this case it is best to set very low drawings to allow the business a healthy cash flow.

Skill Development:

  • Reflection

  • Financial analysis and budgeting

  • Rationalising

  • Decision making

Resources:

  • Flip Chart / Power point (if presenting in a group)

  • Calculator

  • Hand out the following template for the entrepreneur/ small business owner to complete (link)

 

Template to hand out to business owner / entrepreneur

To help estimate the minimum amount of monthly drawings that you need to take from the business to cover all your personal day to day living costs, please complete the tables below and add any other items of personal expenditure that may not be on the list.

 

Items of Expenditure

Monthly £

 

Rent/ Mortgage

£

Council Tax

£

Water

£

Utilities (gas, electricity, water, oil, etc

£

Phone

£

Food

£

TV License

£

Home/ Life Insurance

£

Loan/ Credit cards/ personal debt repayments

£

Newspapers/ Magazines

£

Car Tax/ Insurance

£

NI Contributions

£

Saving Plans

£

Other

£

Total Expenditure

£

 

 

In the table below please list any income outside self employment that you receive such as: Income from Partner/ Tax credits/ Child benefits/ House Keep

 

Estimated Income Outside Self-Employment

Monthly £

Income from family/partner - parents

£

Part-time job

£

Full-time job

£

Benefits

£

Other income

£

Total Income Outside Self-Employment

£

 

 

Minimum drawings calculation

Monthly £

Total expenditure

£

Total income outside self employment

£

Total expenditure less total income

£

 

This section highlights that you will need to draw a minimum of £_____ from the business to cover all personal day to day living costs.

 

References:

https://www.princes-trust.org.uk/help-for-young-people/tools-resources/business-tools/finance-advice

 

 

 

About the Author
This guide was produced by Franchine Taylor (Senior Business Advisor at The Women's Organisation).

Develop and Present an Elevator Pitch

Group Size ? 1.) Small group (teams of 4-6)
2.) Individual Task
3.) Large Group
4.) Any

Any

Learning Environment ? 1.) Lecture Theatre
2.) Presentation Space
3.) Carousel Tables (small working group)
4.) Any
5.) Outside
6.) Special

Any

QAA Enterprise Theme(s) ? 1.) Creativity and Innovation
2.) Opportunity recognition, creation and evaluation
3.) Decision making supported by critical analysis and judgement
4.) Implementation of ideas through leadership and management
5.) Reflection and Action
6.) Interpersonal Skills
7.) Communication and Strategy
8.) Digital and Data Skills

2Opportunity recognition‚ creation and evaluation 4Implementation of ideas through leadership and management 5Reflection and Action 6Interpersonal Skills 7Communication and Strategy

Objective:

 

  • The learner will understand the concept and uses of an elevator pitch
  • The learner will develop and present their own elevator pitch

 

Overview:

 

An elevator pitch (EP) is becoming an important item in the toolkit of most people. It doesn’t matter if you are a job seeker, business person, or gainfully employed professional, you need a powerful elevator speech (EP) to extend and support your personal brand.

 

Activity:

 

PART 1: Using a flip chart, PowerPoint or workbook the tutor will take the individual or the group through the key points of elevator pitches.

 

Make them care

The main mistake many people make when pitching is listing their products and services and go into detail about processes. People want to know how you can help them, or solve a problem they have. Emphasise benefits and solutions rather than features.

Your Second Word Should Be A Verb                        

What do you do? For others? This also forces you into thinking about your results and accomplishments. Get a list of powerful verbs, look them up.

You Have To ‘Get’ What’s Unique About You and Your Business

What differentiates you, what causes you to stand out from the competition? This is what you want in your elevator pitch.

A Few Sentences Is Usually Enough

Think short and sweet. Powerful is not lengthy or full of too many words. When you force yourself into a few sentences, it causes you to think about each word more carefully so that each one tends to convey more.

It Has To Roll Off Your Tongue

You need to write it down and practice it so it becomes second nature to you. This will support a confident appearance when you say it.

You Have To Believe It

If you develop an EP that embarrasses you or causes you to cringe, you either need to boost your confidence or change what you’re saying about yourself.

Give It Attitude

If your EP doesn’t have energy or enthusiasm, then expect it to be received the same way. We like people with confidence and a bit of attitude about their abilities. You’re not bragging, but proud.

Smile

It’s hard not to love people who smile. It communicates warmth and confidence. You come across as engaging and someone people would like to know more about.

Shut Up

Once you’ve delivered your EP, stop yourself from saying anything else. I know this is a tough one, but people often blather on, which deflates the impact of your ES. When you stop talking, it will also prompt the person you are introducing yourself to to ask about you or introduce themselves. Both results are great.

Leave Them Wanting More

A great test of a powerful EP is if they ask you about what you’ve just said. Go have fun with this. Next time you attend a professional meeting, say your EP, shut up and see what happens.

Have A Few EP’s In Your Toolkit

EP’s are not one size fits all. Your audience will be a determining factor in whatspecific message you want to convey. Different aspects of your products or services will appeal to different people and companies

Once you have your primary EP, think through the various groups of people you are likely to use it with. This will help you decide what needs to get tweaked to make it just right for that group of people.

Your elevator pitch is among the first things you do that will form an impression with others. You want it to be professional and well delivered.

 

PART 2: Each member of the group has 10 minutes to devise their own elevator pitch.

 

PART 3: Each member of the group delivers their elevator pitch with the tutor and the rest of the group giving feedback and suggestions for improvement.

 

PART 4: This can be developed further by videoing each person so they can see for themselves.

 

Skill Development:

 

Planning, preparation, presentation, feedback review, reflection

 

 

About the Author
This guide was produced by Claire Pedersen (Senior Business Adviser, The Women’s Organisation).

Your How To Guide Here

If you would like to have your How to Guide featured, please download the template and email the completed version to hello@etctoolkit.org.uk.

We have produced a guidance sheet which will assist you in completing the How to Guide.

If you have any questions regarding completing the template, please Contact Us.

Case Examples

Your Example Here

If you would like to have your Case Study featured, please download the template and email the completed version to hello@etctoolkit.org.uk.

We have produced a guidance sheet which will assist you in completing the Case Study.

If you have any questions regarding completing the template, please Contact Us.

Additional Resources

EEUK have created a guide to help you develop online business support but follow key national sources which update regularly, such as:

Specific COVID-19 measures for trading businesses https://www.gov.uk/coronavirus 
- and select your region to see regional financial support from www.gov.uk

Specific guidance and support for employershttps://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19

Govt Business Support can be found here: https://www.businesssupport.gov.uk/

FSB advice https://www.fsb.org.uk/campaign/covid19.html

Deloitte Guide to Managing Cash Flow in response to COVID-19

Seeking to give guidance to the right steps to take: https://growthplatform.org/business-covid-19-advice/10-steps-to-take-now/

Freelancers are currently (March 24th) being directed to Universal Credit and Citizens Advice https://www.citizensadvice.org.uk/health/coronavirus-what-it-means-for-you/

Well being guidance from FSB

Lockdown 24th March 2020: which businesses are affected https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/874732/230320_-_Revised_guidance_note_-_finalVF.pdf