TRICKY BUSINESS

PROGRAMME 5: ASH ARSHED

ACTIVITIES

Guidance

These activities support a mix of individual, paired and group work.

Before viewing

Explain the terms 'mainstream market' and 'niche market'. Give an example of a mainstream market and the niche markets that can be found within it.

Using examples, explain how 'loss leaders' can help supermarkets and other businesses to boost their sales. What, if any, loss leaders have you bought?

Discuss the reasons why many colleges and universities run entrepreneurial societies, clubs and seminars for their students. Would you take part in one of these?

After viewing

To view 4Learning video clips you will need Windows XP/2000 and Windows Media Player 9, 10 or 11. Unfortunately, the clips are not supported on Macintosh computers.

The video clips may contain a few seconds of extra material at the beginning and end. We have therefore included opening and closing descriptions to help identify the intended scene.

Business basics
Clip one: 00:46 – 02:57

• Opens with the narrator saying, 'Twenty-five-year-old Ash Arshed lives with his family in East Kilbride near Glasgow.'
• Closes with the narrator saying, 'Ash is cashing in on the online boom within the Asian market.'

Answer these questions.

• What does Flame Multimedia do?
• What is the company's niche market?
• Why is there a boom in this market?
• Why does Ash need to break into the mainstream market?
• Why did Ash decide not to join the family business?

Discuss whether family members should automatically join a family business. What are the advantages and disadvantages? How might individuals benefit from taking a different career direction? How might their families benefit? What would you do if you were in this situation? Share and discuss your ideas.

Business strategies
Clip two: 04:18 – 06:50

• Opens with the narrator saying, 'Ash has a strategy which seems to be paying off for him.'
• Closes with the narrator saying, 'The two DJs reckon Ash is a doer and they like what they've just seen.'

Explain how Ash attracts clients and why Bobby Friction and Nihal like this approach. Discuss whether Ash will be able to use this approach when his company breaks into the mainstream market and grows in size.

Imagine that you have a web design business. List the methods that you could use to market your business and attract clients. Identify the advantages and disadvantages of each of the methods on your list and select the best three. Share and review your ideas.

Money matters
Clip three: 10:20 – 11:59

• Opens with the narrator saying, 'Although Ash has been running his business for over a year, his dad has never been up to see his office.'
• Closes with Ash's dad saying, 'I'm very proud of him.'

Identify the similarities and differences in the way that the family shop and Flame Multimedia earn money. Which business gets paid most quickly? Which business is most likely to have a cash flow problem and find that it does not have enough money in the bank to pay its bills?

Cash flow can make or break a business. Imagine that you are setting up a business. What could you do from the outset to reduce your chances of having cash flow problems? (Think about forecasting income and expenditure and using financial advisers and services.) Share and review your ideas. Compile a checklist of things that entrepreneurs should think about to minimise their chances of having cash flow problems in the future.

Business advice
Clip four: 16:54 – 18:48

• Opens with the narrator saying, 'The hardest thing about getting new business is getting access to people.'
• Closes with the narrator saying, 'Result. Ash now has a major contact in the mainstream market and a much clearer idea of how to move forward.'

Summarise the advice that Stephen gives Ash and explain how it will help Ash to grow his business.

Stephen is a business mentor. What do business mentors do? What makes someone qualified to be a business mentor? Should all new entrepreneurs try to find a mentor when they are starting out in business? If so, who could help them to do this? Are there any other parts of life where having a mentor might be helpful? Share and discuss your ideas.

Board meeting
Clip five: 21:55 – 23:15

• Opens with the narrator saying, 'The monthly board meeting has come round again and Ash is keen to relate his dealings with his new contacts.'
• Closes with the narrator saying, 'His board have accepted that moving forward in this market will take time and they're very optimistic for Ash's future.'

Describe what happened at the board meeting. Discuss the value of having a board of advisers in a start-up business. How could such a board help an entrepreneur to assess and manage risk, make development plans and expand his or her business? Imagine that you are running your own business and are setting up an advisory board of six people. You can select anyone from anywhere in the world to be a member. Who would you choose to serve on your board and why? Share and discuss your ideas.