5 Steps of the Build a Business Engine

While creating their business from idea to bank students build on their creativity, critical thinking, collaboration and communication.


Ideas - Create & discuss ideas

  • Develop ideas regarding products, marketing, planning & sales. 
  • Consider what has been done before & identify any new opportunities. 
  • Evaluate ideas with reference to the team’s goals. 
  • Prioritize which ideas to explore further or action, so to efficiently manage time. 

Customers - Explore customer preferences

  • Establish a competitive advantage. 
  • Explore what data would be useful & how to design a survey that elicits this. 
  • Analyse collected data to help understand the customer. 

Products - Refine products & develop a financial plan

  • Consider source of capital required to cover initial costs. 
  • Explore opportunity cost & the trade-offs involved. 
  • Forecast sales, such as for best- & worst-case scenarios. 
  • Make business decisions in light of potential risks & rewards. 

Sales - Track sales live

  • Analyse sales data & history. 
  • Consider potential ways to increase sales, such as modifying products, quantities, running costs or marketing strategies. 
  • Make strategic decisions regarding discounts. 
  • Explore the role & impact of sales tax. 

Bank - Monitor income & spending

  • Measure business performance compared to peers & the community. 
  • Explore the mechanics of banking, & make financial decisions such as spending, saving, investing, lending & donating.