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How it works
The Deki Tenner Tournament Kicks Off in Just Two Days!
Posted on: 30/01/2013
Gearing up for the 1st February start of the Tournament, UWE students and staff gathered to take part in an ideas generation workshop held on 24th January designed to help them come up with a business strategy for their Tenner Tournament project.
The Tournament is a month long competition where the participants are challenged to make as much money out of £10 as they can with all proceeds going directly to our entrepreneurs in Africa and Nepal.
How does it work?
Deki lends £10 to participants who will use a 3 step process from Micro Business to Your Big Idea to grow that amount into much much more.
- Micro business – could be anything from a cake sale to recycling old clothes into new ones. This step will grow your £10 into something more substantial.
- Enterprise – will involve reaching a larger audience and could be anything from hosting a curry night to running a class using a particular skill.
- Your Big Idea – this is where you invest into an idea that will make some serious money. It could be anything from a charity shop fashion show to a comedy night.
Vashti Seth, the founder and CEO of Deki introduced the workshop, explained how the charity works and showed videos featuring some of the entrepreneurs that have benefitted from Deki loans. This set the tone that with a small investment and a lot of hard work anything is possible.
Business Model Canvas
The guest speaker Julie Ellison of Social Enterprise Works shared a key tool with everyone, The Business Model Canvas which is a tool that makes you ask helpful questions about your business idea, such as key partners, key activities, channels, costs, and income streams. In teams we were set a Big Idea of organising a comedy night and with the help of The Business Model Canvas this task showed us how easy it is to create an plan when broken down into small steps.
Steph Champion, the Project Officer of UWE Experience and Enrichment Team said that she was very interested to see people ideas and was excited to see what people will come up with. “The business model is a very useful planning tool as it helps you to think step by step, which makes pretty much any idea achievable!”
It was fantastic to see the students getting so excited and involved with the workshop; some brilliant ideas have been generated already. The Tournament kicks off in two days and is open to everybody. We will support you every step of the way and we have £10 waiting to lend you. Sign up here!