THIS IS NOT A PAPER! YOU ARE COMPLETING A POWERPOINT PRESENTATION THAT YOU CAN NARRATE.
You will need to include sources on each slide to prove that you actually completed research for your project. Use APA notation style with parenthetical notations.
Introduction:
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Order Paper NowThis project will help you create an entrepreneurial idea that works. I am challenging you to use some of the concepts that you have learned in the course to develop a business model for your own entrepreneurial idea. You will discuss the business model in future modules. You will review an article on the business model (listed as a reference below). For this assignment you will develop a model and create a presentation to explain and sell your business model, as if you were presenting in front of a team of important investors. Your presentation will take the form of an elevator pitch that you will deliver during the last week of class (look at the syllabus for the dates). You will use the information below to support your business idea. In your elevator pitch you will sell your business model. Use what you find in your research to support your good ideas. Good luck!
Presentation
- Your elevator speech should be 5-7 minutes long.
- Use Microsoft PowerPoint narrated for your presentation .
- Please make your PowerPoint readable and professional. Try not to put too much information on each slide. Go to this link to see some tips for effective PowerPoint presentations. http://entrepreneurs.about.com/cs/marketing/a/7sin… (Links to an external site.)
- Your job is to sell your idea.
- Use a PowerPoint background that best sells your idea.
- Cover each of the components in your presentation. For each slide you need documented sources to support the statements you make about your venture. You need one important cited fact for each component. Use parenthetical notations for each source.
Content Instructions
Introduction
This assignment is designed to help students practice their entrepreneurial skills while providing a sense of competition for encouragement. Students can choose to work alone or in an entrepreneurial team. The team’s members should be interested in similar ventures or industries. If you send an email to let me know that you would like to work in a team I will match you with someone in the course. Also if you already know someone in class that you would like to team with you can email your request to be matched.
You should use course content to help in the development of a business model for your venture. The ventures can be profit or non-profit and can include ideas from areas such as science, the arts, social enterprises and business.
Final Submission
Check the semester’s course schedule to determine when assignments are due. Each Student or team will develop a business model plan with the following information included:
In the introduction section you should give a brief description of your entrepreneurial idea. Answer the following questions about your venture:
What type of venture will you be starting?
What is the purpose of your business? (This is your mission statement.) What type of organization will your new business be? For-profit? Nonprofit?
What will be the legal description of your organization? For example, unincorporated (sole proprietorship or partnership)? Corporation (S, C) or Limited Liability Company? Another type (nonprofit, cooperative, association, franchise, etc.)?
What will you name your new organization, or new product/services?
Include in your introduction the following:
- Economic reasons for interest in this venture
- Social/sustainability reasons for the venture and other sustainability issues that might effect the venture.
- Personal reasons for the venture
Business Model
Please refer to Canvas for an article on the “Entrepreneur’s Business Model†in the module area. The business model is a way for the student to outline their venture, the “unique value propositionâ€, how the venture will use its sustainable competitive advantage to perform better than its rivals over time, and how the firm can make money (Morris, Schindehutte, & Allen, 2005).Students should use the sections recommended in the article to support their venture idea. You should cover each section of the business model but should be concerned with more than just answering the points. Your job is to sell your ideas. Therefore you should express your own ideas and use course reading and research to support the entrepreneurial decisions for your venture.
Component One:
How will the firm create value?
Tell what you are offering in your venture.
Tell what is innovative about your venture offerings.
Tell the rules you will use to implement your offerings.
You should try to be as original as possible with your ideas. Your offering should be based on your research.(In order to get the full points in this area I must be able to see your research.)What do you know about the market and the industry that helps you to make your decisions about what to offer? Sell your idea! What are you really offering the customer?
Component Two:
Who do we create value for?
Who is your customer?
What is innovative or special about the customer you are trying to reach?
What rules will you use to select your customer?
In this section you should describe your customer. You should include research about the market in this section. Your research should focus on the physical area in which you plan to run your business. What do you know about the geographical area, the population, changing demographics, economy, and other social issues that will affect potential customers? The use of data collected by local and national governmental agencies would be helpful here. You could also use information you collected through a survey. The customer you describe should be based on your research.
Special Section on the Industry:
In this section you will write about the industry. What is the historic growth rate? Future growth rates?
- You might consider using the Bureau of Labor and Statistics for this Information. Consult the Jackson library reference web page and view the list of helpful resources. What trends are driving the market? How is the market changing?
- How can the market be segmented?
Sector: industrial, consumer, government Products/ Services Price Geography Target market
- What are the threats to your venture that will have an impact on your success?
- How is the market structured?
- Is there a lot of risk in this industry?
- Is there more room for more competitors in the industry?
- What niches exist that you could exploit?
Are there new distribution channels that can be used to exploit existing markets?
What resources and suppliers do you need to start your venture? Present in a table.
Component Three:
What is our source of competence/advantage?
Discuss the competence or advantage that your team has, that will make the venture successful.
Tell what is special about your competence or advantage. What innovative way can you use your competence or advantage?
Tell the rules you will use to implement your special competence or advantage.
Discuss in the section the parts of your ideas that are linked to your team’s talents and abilities. This section could also describe any special resources you have that will make your venture successful. You will have to include in this section a discussion of your team’s talents. You might also add an entrepreneur’s resume slide to the presentation that supports your team member’s contribution to the venture’s success. The entrepreneur’s resume is not all that different than other resume.However this resume is focused on highlighting your talents in regard to the venture. You do not have to put a full resume but include some bullet points that show the talents of the entrepreneur and how they fit into the venture model.
Component Four:
How do we differentiate ourselves?
Tell what is different from our ventures and others in the marketplace.
Tell what is innovative about what makes us different.
Tell in this section the niche you will create for your business in the marketplace. This is the place to really sell your idea to those who could be investors. In this section I would expect to see information about your competitors. Remember the Reference USA source is helpful in this section.
- Describe the major competitors in the market. Prepare a matrix analysis that compares your venture with the major competitors.
- On what basis will the major companies in the marketplace compete?
- How do your competitors perceive themselves?
- What barriers to entry do new companies face?
- What is the degree of rivalry among competitors?
- Competition from several different sources?
- How much control do you have over issues in your industry?
- Is your market place dominated by a few companies that control over 60% of the market?
Component Five:
How do we make money?
Tell how your venture will actually bring in revenue.
Tell what is innovative about the way your venture makes money.
Remember that what you do and how you make money in your venture may be two different things. You will have to know how your competitors make money in order what is the best approach for your company.
You might discuss in this section the economic viability of the company. This might include the following points if you can find research to support your venture.
Revenue – How much revenue can you expect?
How will you get customers?
Where will customers come from? (Customer Acquisition)
- Gross Margins of ventures in this industry.
- Operating Cash Flow – Cash flow
Component Six:
What is your time scope and size ambitions for the venture?
Tell your dreams for the venture in the future.
Tell what is innovative about how you will reach your future goals.
Tell the rules you will use to reach these goals.
Include your mission/vision statement for the company.
Include a statement about your team’s level of aspiration.
Additional Resources for Elevator Pitch:
http://library.uncg.edu/depts/ref/bibs/ba.asp (Links to an external site.)
Developing/Updating a Mission Statement (Links to an external site.)
Two Basic Types of Business Organizations: For-Profit and Nonprofit (Links to an external site.)
Social Entrepreneurship1 (Links to an external site.)
The Unique Needs and Nature of Nonprofits (Links to an external site.)
Enterprise Law (Links to an external site.)
Naming and Branding (Links to an external site.)
Intellectual Property Law (Links to an external site.)
One Basic Overview of E-Commerce (Links to an external site.)
Rubric
| Criteria | Ratings | Pts |
|---|---|---|
|
This criterion is linked to a Learning OutcomeIntroduction (Up to 3 points)Introduction: Brief description What type of venture Purpose Form of business Name of business Economic, social, reasons for business. Up to 3 points |
3.0 pts |
|
|
This criterion is linked to a Learning OutcomeHow do you create value? (Up to 5 points) |
5.0 pts |
|
|
This criterion is linked to a Learning OutcomeWho is the Customer? (Up to 5 points) |
5.0 pts |
|
|
This criterion is linked to a Learning OutcomeSource of Competence (Up to 5 points) |
5.0 pts |
|
|
This criterion is linked to a Learning OutcomeDifferentiation (Up to 5 points) |
5.0 pts |
|
|
This criterion is linked to a Learning OutcomeHow Do you Make Money (up to 5 points) |
5.0 pts |
|
|
This criterion is linked to a Learning OutcomeGrammar, Structure, Spelling (up to 3 points) |
3.0 pts |
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