TEACHER RESOURCE PACK 2011 TENNER-TYCOON.ORG

TEACHER RESOURCE PACK 2011 TENNER-TYCOON.ORG

CONTENTS Foreword from Peter Jones: Welcome to Tenner Tycoon 2011 1. What Is Tenner Tycoon? 2. Resources For Teachers 3. Tenner Tycoon Ambassadors 4. Media Relations 5. Key Contacts

FOREWORD FROM PETER JONES: WELCOME TO TENNER TYCOON 2011 Hello and welcome to Tenner Tycoon 2011 Firstly I want to say a big thank you for participating! This pack is intended to be a how-to-guide to help you learn more about Tenner Tycoon. It contains information, worksheets and ideas to ensure that your school s Tenner Tycoon is a great success! Tenner Tycoon is an exciting competition that s about making money, making a difference and giving back. I hope it will inspire your students to be as entrepreneurial as possible, but at the same time will encourage them to give back to their community. This year Tenner Tycoon comes at a time when it has never been more important to unlock the next generation of entrepreneurial potential. Only one in 20 young people who consider establishing a business actually go on to do it. This is a disheartening statistic that highlights the need for us to deliver a new era entrepreneur. By signing your school up for Tenner Tycoon 2011, you are helping to inspire this next generation to become entrepreneurial in life and for that I am hugely grateful. It is time to unlock their potential and we need your help and enthusiasm to make this the biggest and best ever Tenner Tycoon! Peter Jones CBE

WHAT IS TENNER TYCOON?

SECTION 1: WHAT IS TENNER TYCOON? THERE S NO SUCH THING AS A BAD IDEA Backed by Peter Jones, Tenner Tycoon is a nationwide campaign to promote enterprise in schools. It is an annual challenge where tens of thousands of school children are loaned a ten pound note for a month and challenged to make money, make a difference and give back. Young people aged 19 and under can take part through schools, colleges, and youth organisations. Thanks to Big Lottery Fund and top entrepreneurs Peter Jones, star of Dragons Den and Michael and Xochi Birch, founders of the social networking site Bebo there is 400,000 in the Tenner Bank. Tenner Tycoon officially launches on the 1st of March 2011 and is set to involve up to 40,000 school children around the country. TENNER AIMS Ambition Inspire Britain s young people to take on an entrepreneurial challenge and to nurture a desire to become entrepreneurial in life Action Provide knowledge, skills and hands-on experience, inspiring Britain s young people to act on their entrepreneurial ambitions Motivation Champion a tycoon for today one that is motivated to benefit society as well as make a profit

SECTION 1: WHAT IS TENNER TYCOON? RUNNING TENNER TYCOON Your creativity, support and focus is critical to the success of Tenner Tycoon. You will be responsible for distributing the tenners, supporting your students throughout Tenner Tycoon month and returning the tenner loans at the end of the month. You will also be responsible for selecting entries for consideration in the national competition. COMPETITION Each participant will receive a certificate celebrating their entrepreneurial venture. In April you will need to select your top five entries using the judging criteria downloaded from our website. Upload the details of these entries via our website by 8th April. Tenner Tycoon Awards Participants will be given the opportunity to take part in a prestigious national awards ceremony where expert judges will select the best national entries in the following categories: The most profitable enterprise (group/individual) The best business idea The outstanding individual The enterprise that makes the most social impact (group/individual) The most entrepreneurial environment (for school, college, or youth organisation) Finalists will be selected by mid-april and invited to the awards ceremony that will take place in central London in May (TBC).

SECTION 1: WHAT IS TENNER TYCOON? TENNER RULES 1. The competition will take place throughout March and participants will have one month to make a profit on their tenner 2. Participants must not break the law or gamble with their 10 loan 3. Visit our website for the full terms and conditions of the competition: www.tenner-tycoon.org.uk. GIVING BACK THE TENNERS: TIPS AND DEADLINES 1. When it comes to collecting the tenner, make sure you start early. 2. Ask students to complete an application form/contract (also signed by parents/carers), available to download. This will provide a commitment to give the money back and give the project authenticity. 3. Using a duplicate receipt book is also useful when handing out the tenners. 4. Give them a specific deadline as to when the money needs to be returned. 5. Ensure you hold regular meetings with the students to check their progress and remind them at every opportunity that the tenner needs to be returned. 6. Add interest to the 10 loan if it s not repaid by the specified date. This would happen in the real-world! 7. Remember your tenner loan needs to be repaid to Enterprise UK by 28th April.

RESOURCES FOR TEACHERS

SECTION 2: RESOURCES FOR TEACHERS TEACHING TENNER TYCOON INTRODUCTORY SESSION PLAN To kick-start Tenner Tycoon month here are an number of activities to launch the competition with your group of young people. TENNER TYCOON TASK 1: What is an entrepreneur? Briefly explain what you think an entrepreneur is and try to name some famous entrepreneurs. What is a social enterprise? What do you think a social enterprise is? Can you come up with some examples? TENNER TYCOON TASK 2: What is your enterprise talent? Answer the following questions to help you determine where your enterprise talent lies. What s your best talent or skill? Do you work best alone or in a team? What do you like to do with your money? Spend it, save it, invest it? Use the student logbook to record this. TENNER TYCOON TASK 3: Brainstorm What would you do with a Tenner? Split up into small groups and brainstorm ideas on how to make a profit from a tenner. Remember: No idea is a bad idea write everything down. Decide whether you want to work individually or in groups and sort your ideas into three categories: LOVE LIKE LOATHE

SECTION 2: RESOURCES FOR TEACHERS TENNER TYCOON TASK 4: Choosing your Tenner Tycoon enterprise (15 min) Choose the two ideas that you think are best and compare the pros and cons of each. Use the following questions to help you: 1. What s the idea in a nutshell? 2. Is there a gap in the market? 3. What does the competition look like? 4. Where could the idea happen? 5. What materials would you need? 6. How could you publicise your idea? 7. What help will you need to make this idea work, or can you do it alone? 8. Does your idea make a positive impact on your community? Use the logbook to record the students ideas. Tenner Tycoon Task 5: Submit your Tenner Tycoon idea for review Briefly outline your Tenner enterprise plan and submit to your teacher for approval. What s the idea? What s the market? Who s the customer? How much profit do I aim to make?

SECTION 2: RESOURCES FOR TEACHERS TOP TIPS FOR TEACHERS 1. 2. 3. Make sure you introduce students to the competition ASAP! Use an ice breaker activity to get the students creative juices flowing! Make sure students get your permission before they run their enterprise 8. 9. Stay positive! Tell students not to be discouraged, to work with their ideas and encourage them to find solutions to their business problems Arrange to speak to students every week to follow what is happening and to give advice 4. 5. 6. 7. If students choose to work in a team, ensure that they work with people they trust and can communicate with Ensure that students meet regularly as a team and appoint a team manager to keep everyone focused Advise students to plan carefully -clear deadlines are key Make sure that the students market and advertise effectively 10. 11. 12. Ask other members of staff to get involved. For example the Business Studies department are always helpful when it comes to preparing budgets etc... Make the most of the resources on the Tenner Tycoon website www. tenner-tycoon.org.uk Use the press release template and media relations how to guide to generate publicity 13. Finally, prepare to be amazed!

TENNER TYCOON AMBASSADORS

SECTION 4: TENNER TYCOON AMBASSADORS ACTIONS SPEAK LOUDER THAN WORDS Tenner Tycoon ambassadors are successful entrepreneurs who believe passionately in the campaign and instilling enterprise in education. If you would like an ambassador to visit your school during Tenner Tycoon month please get in touch with Bonnie Harris: bonnie.harris@enterpriseuk.org 0207 430 8026 Ambassadors will be available to hold sessions with students, share their experiences and give advice on enterprise projects. TENNER AMBASSADORS Olly Barret Regional Ambassador, South of England Claire Young Regional Ambassador, North of England Joe Cohen Founder, Seatwave.com Lara Mogan Founder, Company Shortcuts Muz Azur Founder, Bazooka Search Jessica Grosvenor Director, Freelance Training & Consultancy Duncan Goose Founder, Global Ethics Priya Lakhani Founder, Masala Masala Andre Campbell Director, Enfuse Youth

MEDIA RELATIONS

SECTION 5: MEDIA RELATIONS TEMPLATE PRESS RELEASE Here is a template press release that you need to fill in with information relevant to your school and your school s Tenner Tycoon campaign. Please see the following section on how to pitch this to the local media. There is a Word version on www. tenner-tycoon.org/teacher-tasks for you to edit. PUPILS AT [Insert name] SCHOOL LAUNCH BUSINESS WITH JUST 10 AS PART OF DRAGON S TENNER TYCOON CHALLENGE XX March/April, 2011 Pupils at [Insert name] School have started a successful business with just 10 each after taking part in Tenner Tycoon. The landmark annual competition, spearheaded by Dragons Den s Peter Jones, sees thousands of young people across Britain borrow 10 for the month of March to encourage them to start up their own businesses and make money, make a difference and give back. [Insert information here about the successful business ideas that your pupils have launched/ are launching and how much profit they have made/hope to make. Insert details of community involvement or chosen charity]. [Insert a quote here from your head teacher speaking about the accomplishments of the pupils, for example: Tenner Tycoon is proof that when people turn to enterprise and take a chance on their ideas, the whole community benefits. This programme gave my students a chance to gain practical business experience and it has shown how a little creativity and ingenuity can be used to meet community challenges. This is just the sort of thing we should be doing if we want to inspire the next generation of entrepreneurs and safeguard our future prosperity. My students gained [...] from taking part in Tenner Tycoon. ] Peter Jones CBE, fronting Tenner Tycoon commented: I am convinced that by instilling a more entrepreneurial culture in our schools we will encourage many more people across the UK to start their own business.

SECTION 5: MEDIA RELATIONS Tenner Tycoon challenges thousands of young people to come up with enterprising ideas that can make money, make a difference and give back to good causes. We have seen hundreds of excellent examples up and down the country and I am constantly amazed at the incredible ideas and results that young people can generate with an investment of just 10. [Insert a quote from Tenner Tycoon ambassador, if applicable.] This year, Tenner Tycoon encourages students to give back by donating their profits to a local charity of their choice. The scheme, supported by the Peter Jones Foundation, is the successor to the Make Your Mark with a Tenner challenge, which has been a huge success since it launched in 2007. ENDS For more information please contact: tenner@enterpriseuk.org Notes to editors: About Tenner Tycoon Tenner Tycoon is a nationwide competition that promotes enterprise in schools. Formerly known as Make Your Mark with a Tenner, the scheme will see Enterprise UK loan 400,000 to 40,000 young people across the UK to encourage them to start up their own businesses. Each participant will receive 10 and is challenged to make money, make a difference and give back. The competition is generously supported by Dragons Den entrepreneur Peter Jones, Big Lottery Fund and Michael and Xochi Birch, founders of the social networking site Bebo. www.tenner-tycoon.org About [insert school details] [Insert background information about your school if appropriate]

SECTION 5: MEDIA RELATIONS HOW TO PITCH TO LOCAL MEDIA 1. 2. 3. 4. Identify relevant local media contacts (preferably those who already have a relationship with your school) or contact Seven Hills for guidance on media contacts. Send them the press release copied into the body of the email (not as an attachment) with a brief pitch note above. The pitch note should introduce Tenner Tycoon, your school and the key points in the release. Follow up with a call and speak to the journalist. (Journalists get hundreds of emails per day so a follow up call is essential to ensure they do not miss your story). Remember to mention a key spokesperson (either from your school or an ambassador) who can be interviewed, as well as a photo opportunity you can either send them a photo or they may want to send a photographer down to the school. TENNER TYCOON PHOTO OPP 1. This needs to be simple and eyecatching. 2. It should showcase Tenner Tycoon and the students enterprise projects. This may work best if one of the most successful students is shown in action. 3. If you have a local MP or Tenner Tycoon Ambassador visiting your school this would also provide a great photo opportunity with the students.

KEY CONTACTS TENNER WEBSITE www.tenner-tycoon.org.uk ENTERPRISE UK Ava Carruthers ava.carruthers@enterpriseuk.org office: 020 7430 8057

TEACHER RESOURCE PACK 2011 TENNER-TYCOON.ORG