To figure out whether the original idea for our business was worthwhile or not we made an excel spreadsheet that included all the costs of materials we would need to make __ amount of jars.
When getting feedback from peers we found that the minimum peoples were willing to pay for this type of product was $7. Putting that into our spreadsheet with all the expenses meant that we would be receiving roughly 50 cents profit per sale. This wasn’t worth our time so we decided to scrap it and start on a different product.
To plan out our stand out media business we set up a Microsoft planner with different buckets to help with organisation. This meant that we could assign priority, due dates, and members to specific tasks and help keep them on track for completion
A large part of our planning was done in discussion rather than digitally i.e. we had to plan out how we were going to do things such as advertise our business and make products. We also had to discuss what each member would do if the other person was away for something. This ended up being the case as one of our members had to run the stall solo at the runway market on the common.