FS2012 Presentation Event

1. FS2012 Presentation Event Business Presentation 2012 Feedback Craig Powers Head Presentation Judge

2. How to approach the Formula Student Event Objectives How to Prepare ~ what to read Choice of Role Play Common Mistakes and Problems Selecting Content This year’s experiences Agenda

3. Objectives What is the Presentation Event? A business presentation, a role play, an act… Objective To convince the judges to invest in your race car proposal Convince the judges that….. You have a car that is ready for manufacture you have a sound business case you have minimised commercial and technical risk there is profit potential

4. Rules & Source Material • Source Material • Rules • FSAE Rules • FS UK Supplementary Rules • Presentation Advice • IMechE website ~ ‘Advice to Students’ • FS Judges Blog • Learn to Win seminars • Annual event at IMechE London, October • FS Question Database • Resolve any queries in advance

5. Role Play • Identify who your Audience is • 2 common scenarios • To Executive of a Manufacturing Company • To Investors • Make sure that the judges are aware of the role play and their role • Make sure all topics are addressed no matter what role play you choose Objective A presentation which isFocussed & Precise

6. FSAE Rules ARTICLE 4: PRESENTATION EVENT C4.1 Presentation Event Objective – Business Case C4.1.1 The objective of the presentation event is to evaluate the team’s ability to develop and deliver a comprehensive business case that will convince the executives of a corporation that the team’s design best meets the demands of the amateur, weekend competition market, including Sports Car Club of America (SCCA) Solo, and that it can be profitably manufactured and marketed. (See also A.1.2) C4.1.3 Teams should assume that the “executives” represent different areas of a corporate organization, including engineering, production, marketing and finance, and thus may not all be engineers.

7. Common Mistakes (1a) Mistakes relating to choice of Role Play • Investor Role • Concentrate on Finance and neglect the following: • Technical details and development of the car • Design for Manufacture • Manufacturing, equipment, skills & staffing • Neglect to say how the investment will be spent • Manufacturing Role • Omit to mention Manufacturing because the manufacturing company are ‘experts’. The manufacturers will want to know: • Equipment • Manufacturing processes / skills • Staffing levels

8. Common Mistakes (1b) Mistakes relating to choice of Role Play • Other overly-complex role plays • Role plays not centred on the production of a racing car • Too much time spent explaining the complex scenario • Hard to score in all Presentation scoring categories

9. Common Mistakes (2) Poor business case • Failure to identify the customer and the market • Weak market research • No customer requirements • How much is customer prepared to spend ~ lack of target price (or cost price!) • Competitors / rival vehicles not identified, including prices • Market volume not explained

10. Common Mistakes (3) Poor business case • Unrealistic business case, arising from... • Excessive market volume ~ not tied to market research • Excessive market share (100% ~no rivals !) • Excessive start up costs • Labour costs too high ~ too many managers, not enough technical manufacturing staff • Excessive marketing budgets • Insufficient profit per car

11. Common Mistakes (4) Incorrect balance • Too much time spent on one topic • You have just 10 minutes to cover all topics including introduction, agenda, summary. • Spread your time equally between topics, ensure a good balance. • Make sure that you use the full 10 minutes

12. Structure Completing the logical flow, …. Concept to Prototype, then Production and Profit Design Goals / Targets Design & Development Processes Market /Customer Requirements The Prototype Car Business Proposal Production Compromises / Manufacturability Finance & Commercial Marketing, Sales, Support Manufacturing

13. Commercial Risk Know the market, identify the customer, identify rivals / competitors Customer Requirements Set design goals (weight, performance, cost, etc) Ensure design meets the goals and can be manufactured Minimise start-up costs & operating costs Achieve target cost and selling price Can be manufactured at a rate / volume to suit the market A CAR THAT MEETS THE REQUIREMENTS AND CAN BE SOLD AT A PROFIT …. SOUND BUSINESS CASE Minimising Risk (1) Not necessarily a comprehensive list

14. Technical Risk Design Processes (CAD, FEA, CFD, Simulations, etc) Validation & Testing of Prototype Designed to aid manufacture / production compromises Testing Quality & Inspection Improving through experience Objective : A CAR THAT ... WILL PERFORM WELL ... CAN BE EASILY MANUFACTURED ... WILL BE RELIABLE Minimising Risk (2) Not necessarily a comprehensive list

15. Avoiding common mistakes from 2012 Providing Business and Technical handouts but not referring to them in the Presentation Not stating ‘the deal’ at the start of the presentation ~ include in your opening remarks Some overly-complex role plays that are not centred on the production of racing car. Keep it simple Not including Sustainability ~ This is the environmental sustainability of the car/project rather than the sustainability of the business. No-shows ~ zero points scored This year’s mistakes

16. In 2013 ... Next year’s scoring may include the Business Logic Plan (BLP) Watch for rules changes and new advice on BLPs Read the FS Blog Use the FS Question Database to resolve any queries. Next Year

17. See you next year! Thank you for your hard work Hope to see you at Formula Student next year Good luck!