Mind Your Own Business! The Road to Profitability.

This week we started the first terms Field project, I chose to do ‘Mind Your Own Business’ because of how interesting it looked last year whilst observing other students doing this project. The start of the 18th saw us receiving the basic information about what this project will consist of and what was required for us to succeed this term. Once we were given the information we sat around our designated space where we have been split into groups of four, these groups include the individuals I will be working with for the next eight weeks.

My Group and their Practises (In No Particular Order):

  • Steffan Kalsi – Illustration
  • Jessica King – Graphics
  • Menna Williams – Textiles
  • Myself – Product Design

Granted it took a while for us to begin talking normally about our project and what we wanted to get out of these eight weeks but once we did I think it went well. Even though it was the first day, we talked about what ideas we had and what potential those ideas had in terms of being made and then sold to the public. I really enjoyed the brainstorming, it allowed me to gauge what the mindsets of these three people were, what kind of specialities they could contribute and how we could in turn be successful as a team. An exercise we did asked us to look at the values we hold dear to us, values that you uphold in everyday life and what you strive to carry on through our work we do.

The five main values that we found all of us hold close were:

Excellence 

Professionalism 

Originality 

Community 

Honesty 

By the end of the Tuesday we had got to know each other relatively well. We knew each others strengths and weaknesses, we also came up with a lot of good ideas for out brand name. Our three ideas were ‘Epoch‘, ‘Persona‘ and ‘Exterior‘. The one name that stood out straight away was ‘Epoch‘, as a group we all found this to be our favourite as it had a double meaning, by luck, this word was made up of the first letters of our values. ‘Epoch‘ also meant ‘a particular period of time in history or a person’s life’ which we found related to some of our initial ideas that were floating around the group.

On Thursday we began the day filling out some more information about what our target market would be like, what they may look like and what percentage of the market we will be trying to reach, this allowed me to think about the number of units the group would be making and the amount of people that would possibly buy.

A part of the day that I really enjoyed was where we had some feedback from Richard whilst we presented our ideas to the entire project group, We spoke about our idea of having a card holder that would be made from either recycled materials where the person buying the holder could choose which materials they wanted which would then make up their own unique product to them OR a card holder which would work in collaboration with students of CSAD where we would be able to use materials made by these students in the card holders, this would give our brand and the students work both media presence and a sense of collaboration with a business and independent seller.

Another few ideas that were discussed included:

  • A portfolio that had students identification embroidered onto that portfolio so it would not be difficult to identify which one was theirs.
  • A T-Shirt company that collaborated with students and unknown artists to get their designs out into the public eye.

As a group we discussed all of these ideas and after some talking and looking at the potential of some ideas we decided to move forward with the card holder idea, we spoke about what the material pricing would be for the holders and we are quite confident we can make these and gain profit. Whilst we begin to do some market research on the existing products and the potential target market we will begin to understand what corner of the market we will be advertising towards.

At the end of the Thursday we had our brand logo finalised, after looking at the designs we discussed what we liked and disliked about each design and then as a group we made a decision to go with the logo designed by Jessica, it was an overwhelming result for her design and she told the group she would create a digital version of the logo.

Below shows the logo we will be using for our business venture:

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Whilst we were tasked with thinking of a slogan our group did struggle a little and as of the first week we have not thought or finalised a slogan for our brand, that will likely be done next week.

A lot has been covered. 

Enjoyment has been had.

Progression will be made.

 

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