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Report to the Community 2015
Our MISSIONSpreading passion for high quality tea while delivering a product
that improves the health of our customers.
OUR PRODUCTSHealth benefits – High quality – Delicious taste
HAND-DRAWN MUGSUnique designs – High quality - Custom gifts
original fme team
Initial IDEAZwoop: Cardholding Phone Case
HURDLES AT FEASIBILITY
1. Substandard product
2. Small market
3. Substantial competition
T E A MSKILLSI D E A SNEW
TO PIVOT orNOT TO PIVOT?Back to the Explore Phase
1.
2.
3. Tea tasting
Market research
Rocket pitch Feasibility
Our GOALS
Act. Learn. Build.Effective Communication.Active Participation.High Quality Product.
1.2.3.4.
Expectations
R EA LI TYVS
DEVIATIONS FROM LAUNCH PLANSupplier – Operations – Pricing – Financials
VS
DEVIATIONS FROM LAUNCH PLANSupplier – Operations – Pricing – Financials
VS
$20/tin
DEVIATIONS FROM LAUNCH PLANSupplier – Operations – Pricing – Financials
$10/tinVS
$150 for sampling expenses
DEVIATIONS FROM LAUNCH PLANSupplier – Operations – Pricing – Financials
$150 for sampling expenses
VS
EXPECTATIONS190
$2,242.50 $1,687.50
REALITY418
$2,700.48$1,985.67
Unit Salesin Gross Profitin Net Income
Unit Salesin Gross Profitin Net Income
VS
VS
Poor booth timesForecasting sales demand
Know-how of sellingEnergy & Motivation
SALESChallenges Successes
VS
SALES
In-Person214 units
53%Online21 units
5%Bulk
170 units
42%
110
283 297 312353
128
276
162
244
141
290
186
122
1 2 3 4 FME FAIR 5 CLTP 6 7 8 9 10 BABSON 168
Reve
nue
($)
Week
Booth SALES
Booth SALES
0
10
20
30
40
50
60
1 2 3 4 5 6 7 8 9 10
Units
Sol
d
Week
Relax Detox Energy Custom Mugs
Bulk SALES
Weissman$400 25%
H-Tower$120
7%
BEE$540 34%
BECC$540 34%
Challenges Successes
VS
Financials
1. Franklin
2. Profitability
3. Smooth audit
1. Slow information diffusion
2. Varied products
3. Different supplier pricing
INCOME STATEMENTRevenue $4,607.00
COGS $1,906.52
Gross Profit $2,700.48
Operating Expenses:
Selling, general and administrative expense $452.53
Remaining inventory $197.69
Lost inventory $45.17
Total Operating Expenses $695.39
Net Income Before Tax $2,005.09
Tax Expense $19.42
Net Income After Tax $1,985.67
Final BALANCE SHEETASSETS LIABILITIESCash 3,437.03 Loan 1,451.25Samples From Metro Tea 25.00 Reimbursements 0.00Samples Phone Cases 34.00 Prepaid Shipping 0.00Ribbon 2.74 Total liabilities 1,451.25 Glass Jars 8.50 Tea 83.52 EQUITYTins 3.43 Retained earnings 2,183.47Stickers 40.50 Total Assets $3,634.72 Total Liabilities and Equity $3,634.72
Challenges Successes
OPERATIONS
Inventory shortageBulk ordersDepartmental miscommunication
Inventory controlInnovative operationsFranklin
1.2.3.
1.2.3.
VS
MARKETINGChallenges Successes
VS
1. Campus presence
2. Stickers
3. Easter Egg Hunt
1. No prepared samples
2. Promotions
3. Market differentiation
Time-consuming processChallenges Successes
Design
Established brand on campus
VS
2 hours = 1 draft
Predicting market demand Getting customer feedback
DesignChallenges Successes
VS
COMMUNICATIONS
Information overloadChallenges Successes
VS
Preview Day + Babson 168
Friendship vs. ProfessionalismInterpersonal conflicts
Challenges Successes
VS
High team morale Company culture
HUMAN RESOURCES
Great idea Loose execution
COMPANY NORMS How did they affect us?
VS
Excellence Enthusiasm
CommunicationVoting
COMPANY NORMS Did we stick to them?
NOYESVS
CEOBen
CMOAustin
VPDaniya
VPStacy
COOSarah
CFORegine
CDOLea
HRJulia
HCArjun
CSOKaterina
SVPNicole
VPYarely
vpTere
vpSteph
vpAnthony
vpHasan
FUNCTIONAL ORGANIZATIONAL STRUCTURE
The makings of a good team
Goals achieved.
Learned.
Would work together again.
1
2
3
Corporate social responsibility
Health benefits1.2.3.4.
Environmental sustainability
Creative exitEthical supplier
Philanthropy
volunteering
VOLUNTEERING with a bit of fun!
LEARNING POINTSWhat did we learn from FME?
LEARNING POINTSOrganizational Behavior
has a considerable effect on one’s mindset and behavior.
LEARNING POINTSOrganizational Behavior
S.M.A.R.T. unify people.
Specific1.2.3.4.5.
MeasurableActionableRealisticTime bound
cannot be avoided, but they can have a positive impact.
LEARNING POINTSOrganizational Behavior
LEARNING POINTSOrganizational Behavior
Effective is the key to team’s morale, energy, and performance.
LEARNING POINTSMarketing & Entrepreneurship
Remember : People, Planet, Profit.
LEARNING POINTSMarketing & Entrepreneurship
are necessary.
The successful man is the one who had
the chance and took it.Roger Babson
LEARNING POINTSMarketing & Entrepreneurship
and are crucial not only in
business, but also in life.
LEARNING POINTSMarketing & Entrepreneurship
“It is wise to keep in mind that neither
nor is ever final.”
Roger Babson
418
4th week
8,627
$4,607
$1,986
tea packets
tins
in revenue
to donate
breakeven
OURSTAIRWAY
TO SUCCESS
418
4th week
8,627
$4,607
$1,986
tea packets
tins
in revenue
to donate
breakeven
STAIRWAY TO SUCCESS
THE MOST PROFITABLE FME COMPANY OF 2015
Named the Best FME Company
of 2015
Thank youfrom