Be your own boss BBC3

[danandlydia]

Don't know if this show is well known on here, but iv just found out i am one of the successful 500 who now get £100 and 2 weeks to make as much money as possible, just wondering if anyone had any good ideas for this. Because when you sit down and think, its not quite as easy as it may seem!


"Be Your Own Boss" needs you!



If you and your friends have got a killer idea, or already have a business but need help to make it grow, AND you’re up for the challenge, then read on...



Richard Reed, the co-founder of Innocent Smoothies, is fronting a new series for BBC Three.
He has £1million at his disposal, and is looking to nurture and invest in the next wave of young entrepreneurs.
In his early 20s, Richard and two friends had a business idea that no one believed in.

Eventually one man took a chance on them and their company was born, turning Richard and his mates into millionaires.
Now Richard wants to do the same for a new generation of start-up superstars.STAGE ONE: SHOW ME THE MONEY
How much money can you make out of £100?
If you’ve got natural entrepreneurial talent, this is one way to test it.
The 500 most promising applications will each get £100. As long as it’s legal and ethical, Richard doesn’t care what you do with the money. He just wants to see that you can make that money grow.
You’ll need to film what you do with the £100 on your mobile phone or handicam.
And once you’ve done that, you and your mates or business partners will be invited to an ‘expo’ to show him what you did with the £100. It’s also your big chance to pitch your business idea to Richard or one of his people. This is your opportunity to demonstrate why you deserve to go through to stage two.
At stage two there are only 18 places.
Will you bag one of them?






Thank you

 

[InspectionPartner]

I think the UK needs more things like this to help out young entrepreneurs. Things like this could really help towards our economy.

 

[danandlydia]

Well actually, we had a look at the full terms and conditions they sent us and quite frankly they are shocking and we will probably withdraw!

 

[JEREMY HAWKE]

Why cant people just do things in this country without being promted by a TV programme !!!
The Boom in China did not kick off from a TV show !!!!
There is a skill at local level that you wont find much of on the TV or You Tube its called hard work Its a nasty word I hope I dont get a strike against me for using it here

 

[danandlydia]

Well were trying as hard as we can, but being student have no money to start! Our idea obviously wasnt too bad as we got selected from tens of thousands of applications. But other ways of getting finance arnt working for us.

 

[mhall]

The terms and conditions intrigue me. Does the idea stay with you or are you expected to give away your soul to the Beeb ?

 

[businessfunding]

I'm quite confused because your OP asks for ideas but then say you were accepted on the back of an idea.

Also, you have to start a business for £100 but are looking to raise finance - does this mean that you start with £100 of your own cash but can borrow more?

As a show generally, my guess is that it will gloss over basic facts such as the value of time, experience and probably even premises to create television 'entrepreneurs' - that being said it might look good on your CV.

 

[OliverLuke]

I also applied, I am hoping to hear I got in the last 500 though, fingers crossed

 

[garyk]

Don't know if this show is well known on here, but iv just found out i am one of the successful 500 who now get £100 and 2 weeks to make as much money as possible, just wondering if anyone had any good ideas for this. Because when you sit down and think, its not quite as easy as it may seem!

Surely thats the whole point, *you* have 2 weeks to makes as much money to be involved with a TV programme that *you* will appear on so surely it has to be*your* ideas for cash generation? :|

 

[GraemeL]

Why cant people just do things in this country without being promted by a TV programme !!!

Well said Jeremy.

So young Oliver......

"I also applied, I am hoping to hear I got in the last 500 though, fingers crossed",

Why not have a practice run? Why worry about expanding printing when all you need is £100?

If you make enough money from £100, you won't need to go on the show because you will have found a business for yourself - but you will need to make enough money to stand a chance of going on the show......




G

 

[number42]

Well said Jeremy.

So young Oliver......

"I also applied, I am hoping to hear I got in the last 500 though, fingers crossed",

Why not have a practice run? Why worry about expanding printing when all you need is £100?

If you make enough money from £100, you won't need to go on the show because you will have found a business for yourself - but you will need to make enough money to stand a chance of going on the show......




G

The law of compounding will help you young Padawan!
If you re-invest fully & double your money each day you will be a millionaire in 15 days
Day 1 - £100
Day 2 - £200
Day 3 - £400
Day 4 - £800
Day 5 - £1,600
Day 6 - £3,200
Day 7 - £6,400
Day 8 - £12,800
Day 9 - £25,600
Day 10 - £51,200
Day 11 - £102,400
Day 12 - £204,800
Day 13 - £409,600
Day 14 - £819,200
Day 15 - £1,638,400

Go now young one and maketh some money!

 

[OliverLuke]

My £100 idea isnt a business but would be a fun and interesting way of making a few hundred, its not something that could be done weekly though

 

[danandlydia]

For the people who dont understand how it works:

You apply with whatever your business idea is.

It it was one of the best 500 you get through to stage 1.

Stage 1 they give you £100 to make as much money as you can however you can, nothing to do with your business idea. Just a challenge to see your skills to get selected for stage 2.

 

[MASSEY]

Difficult one really.

The things that are likely to make you most is going around junk yards, or carboot sales as they are called. Buy what you can cheap as chips then try to flog it on.

You will either do well or fail. It all depends how intellectual you are at working out what is really junk and what is likely to make some profit.

Nothing much else worth doing in my opinion, for such short time.

 

[Max Lucas]

will all that have been successful have heard by now?

 

[Fred_the_frog]

I don't think they should use the word 'entrepreneur'. This challenge is basically about going out and selling stuff. You can't set up many profitable businesses just two weeks, then make money too. That implies that you have to be good at selling to win. They should use the word 'Salesman/woman'. An entrepreneur (IMO) is someone who starts up a business. They don't have to be good at sales, nor at leading a team. They find out what skills they don't have, then find people to fill them. (Yes, I don't think you have to be good at leading a team. You can have a team of people, then a manager to manage those people. You then deal with other stuff that you team isn't doing (like moving the business forward) whilst your manager manages those people. Not to say you don't speak to them, but you get what I mean)

 

[OliverLuke]

Find out by the 15th of may

 

[Ste Hughes]

If it was me this weeks apprentice would be something to look at They started with £150 and finished with £800 and £1000 on each team in a day.

Granted there is 4 or 5 of them a team and they are experienced sellers but certainly worth looking at. Simplest form of business out there.

 

[keir77]

If it was me this weeks apprentice would be something to look at They started with £150 and finished with £800 and £1000 on each team in a day.

Granted there is 4 or 5 of them a team and they are experienced sellers but certainly worth looking at. Simplest form of business out there.

No mention of the pitch costs were quoted in the program. How much would a stand at lakeside cost? Not to mention the other pitches...

 

[Fred_the_frog]

No mention of the pitch costs were quoted in the program. How much would a stand at lakeside cost? Not to mention the other pitches...

And the travel costs

 

[businessfunding]

After direct costs they would be struggling to make minimum wage..

that said, as a real business everything would depend on how scalable the business is - could they re-invest the profit an make a similar margin, or was it a one day special?

 

[MASSEY]

No mention of the pitch costs were quoted in the program. How much would a stand at lakeside cost? Not to mention the other pitches...

Exactly. It is disgusting for Alan Sugar to say something along the lines of

"See, you don't need lots of money to make money, something for people to take note of"

Ok sugar, how much insurcance did you pay for these people? What about petrol, pitches. The pitches would have cost more than they made.

What about tax and National insurance on the profits??

The guy is a joke.

Those people he sent out never made him any money