Identifying Market Opportunities In Animal Care (QAA 1,2)

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
Lecture Theatre, 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
1Creativity and Innovation 2Opportunity recognition‚ creation and evaluation

Objective:

To provide students with opportunities to develop business ideas.
To provide students with opportunities to reflect on and discuss business, branding and marketing strategies.
To provide students with a greater awareness of the help and support available to them.
To provide students with a greater understanding of their academic subject within a wider business context.

Introduction:

Due to the nature of their industry, many students of FdSc Equestrian Psychology will find themselves self-employed upon graduation: in a freelance capacity, as a contractor to another organisation, or setting up their own businesses. Though all who study on the programme have an obvious love of animals, many lack an awareness of the business opportunities open to them, or confidence in their own enterprising capabilities.

ZONE, Glyndwr University's student enterprise service, partnered the FdSc Equine Psychology programme, to deliver a workshop on identifying market opportunities within the sector.

The workshop was delivered to a small cohort of only 8 students, in a one hour session, with no preliminary work set.

Activity:

The session was delivered as an informal seminar, with Judith Alexander (ZONE Manager) facilitating and guiding discussion.

Framing the Market

Students began by discussing their market (i.e. who owns the horses?). They categorized the market, and discussed the variety of products and services required by various customers
Next students reflected on their own skills, and discussed (whilst looking at real world examples), the businesses who provide these various products and services. They debated the merits of being a niche business specialising in one area, verses a multi-faceted approach.

Branding:

Students then discussed branding, and debated the pros and cons of operating with a company name, over operating under their own name.
The students looked at the websites of a number of professional equine psychologists, and discussed the branding approach of each.
Students were introduced to the concept of USP, and reflected on what their own may be.

Revenue Streams

Students brainstormed the various revenue streams open to them within their industry. They were encouraged to be creative in doing this (for example, delivering training, creating apps, speaking at events etc. may all be viable opportunities within their sector).

Business Support

Students were introduced to various business vocabulary and the key things they would need to consider on becoming self-employed (registering the business, tax, insurance etc.).
They were introduced to various online resources, and other business support.

Enterprise Catalyst

Students took the 'Enterprise Catalyst' assessment. An online tool which allows users to identify their own enterprise skills.

The session concluded with a recap of key points, and final Q and A.

Impact:

A number of the students went on to utilise the further business support available to them at the University, as a result of the intervention.

Learner outcome:

Learner feedback included;

'Very useful presentation, in depth information.'
'Very useful, opened me up to other idea, made me realise there is more support available than I first thought.'
'Good session. Enjoyed.'
'Very informative and motivating, showed me there is help if needed and it's easily accessible.'
'Very motivating, opened my eyes to what I could do.'
'Very inspirational, brought up ideas that I hadn't thought of before, but I am very keen on now and will definitely pursue.'
'Very informative and useful presentation put in an understandable way. Good to know there is so much support available for those wanting to venture into business.'
'Interesting and useful presentation.'

Resources:

The 'Enterprise Catalyst' assessment tool, featured in this activity, can be found here >https://www.enterprisecatalyst.co.uk/

References:

Course: Zone Enterprise Hub. 2015. Course: Zone Enterprise Hub. [ONLINE] Available at: https://moodle.glyndwr.ac.uk/course/view.php?id=37%2522%2520target%253D%2522_blank%2522. [Accessed 12 August 2015].

About the Author
This guide was produced by Judith Alexander (ZONE Manager, Glyndwr University). If you would like to contact the author, please use this email address:- j.alexander@glyndwr.ac.uk.