Entrepreneurial Spirit
Project Directions
Overview
You work in the Product Development Department of ACME Widget Company. To incentivize
innovation and creativity within the organization, ACME has announced the first annual ACME
InvenTank, a contest in entrepreneurial spirit. Contestants will generate and develop their own original
idea for a product or service, test the concept’s feasibility, develop a business plan and, finally, deliver a
final presentation to a panel of judges with the potential of earning funding to bring the concept to life.
Directions
Before the ACME InvenTank competition officially begins, the company has requested that all
contestants complete an Entrepreneurial Profile. Complete the Entrepreneurial Profile
Template, describing yourself as an entrepreneur, and answering the questions in each of the
following sections:
Part 1Mindset and Characteristics
What defines a successful entrepreneur? What do you believe are the five most essential characteristics of
a successful entrepreneur? Explain how each characteristic or mindset contributes to entrepreneurial
success.
Which of these essential entrepreneurial characteristics do you most possess? How will these traits help
you succeed as an entrepreneur?
Which of these characteristics do you least possess? How might that hinder your success as an
entrepreneur?
What is an intrapreneur? What are the major differences between entrepreneurs and intrapreneurs?
Part 2Three Influential Entrepreneurs
In this section, identify three successful entrepreneurs whom you admire.
Describe why you admire them as entrepreneurs, and as individuals.
Describe their mindset and characteristics and how those contributed to their successes.
What can you learn from the failures and successes of the entrepreneurs you chose?
Describe the most common motivations for the entrepreneurs you’ve selected. How would you describe
the motivation of a successful entrepreneur?
Note: The entrepreneurs you choose do not necessarily need to be famous or well-known by the public. If
you can think of a friend, family member or local entrepreneur who has inspired you, feel free to highlight
that person in your profile.
Part 3Business Idea Brainstorm: As a contestant in ACME InvenTank, you will be developing a
business idea for a product or service. Before you settle on an idea, it will be helpful to begin by
brainstorming. In this section of your profile, list at least three ideas for potential products or services you
may be interested in developing further, describing each idea briefly in three to five sentences. You will
select one of these as your “final” product idea later. For now, focus on generating some ideas.
Note: Your business should be a for-profit organization.
DELIVERABLES
Completed Entrepreneurial Profile Template
Accepted File Types: .doc, .docx, .odt, .rtf, .txt, .pdf
Project Resources
Entrepreneurial Profile Template
Complete and submit this template, describing five key entrepreneurial characteristics
and three entrepreneurs who have inspired you.
http://cfaresources.s3.amazonaws.com/BA%20Management/Innovate%20Like%20an%20Entrepreneur/E
ntrepreneurialProfile.docx
What Makes a Business Plan Viable?
Read this resource to learn about the keys to creating a viable business plan.
http://cfaresources.s3.amazonaws.com/BA%20Management/Innovate%20Like%20an%20Entrepreneur/
What%20Makes%20a%20Business%20Plan%20Viable.pdf
Introduction to Entrepreneurship
Read through this introductory chapter to learn more about entrepreneurship.
https://courses.lumenlearning.com/boundless-business/chapter/introduction-to-entrepreneurship/
Why Become an Entrepreneur?
Read through this resource to learn about some of the most common reasons to go into
entrepreneurship.
https://web.archive.org/web/20140804114910/http://www.saylor.org/site/wpcontent/uploads/2012/12/BUS305-1.2.1_Why-Become-and-Entrepreneur.pdf
9 ‘Mindsets’ You Need to Switch From Employee to Entrepreneur
Becoming a successful entrepreneur means adopting a whole new state of mind. Read
through this resource to learn about the differences between the employee mindset and
that of an entrepreneur.
http://www.entrepreneur.com/article/234894
35 Entrepreneurs Share How They Stay Motivated in Business
To better understand the mindset of an entrepreneur, read through this list of quotes
from entrepreneurs describing their personal motivations.
http://yfsmagazine.com/2012/07/19/35-entrepreneurs-share-how-they-stay-motivated-in-business/
The 15 Characteristics of Effective Entrepreneurs
Watch this video and read the accompanying article, which provide insight into the
characteristics of entrepreneurs.
https://www.entrepreneur.com/video/240302
Interviews with Entrepreneurs
This web page provides a number of interviews with successful and influential
entrepreneurs. If you need help thinking of entrepreneurs to write about in your profile,
this page provides many examples. You do not need to watch all of these videos,
but may wish to watch several to learn about a variety of entrepreneurs.
https://www.khanacademy.org/economics-finance-domain/entrepreneurship2/interviews-entrepreneurs
10 Things Entrepreneurs Need to Know about Intrapreneurship
Read this article which provides information about intrapreneurship and the distinctions
between intrapreneurs and entrepreneurs.
http://www.inc.com/murray-newlands/10-things-entrepreneurs-need-to-know-about-intrapreneurship.html
Business Idea Center
As you begin to brainstorm potential business concepts, use this resource to generate
some ideas. This resource provides business ideas categorized by industry,
interests and professions.
http://www.entrepreneur.com/businessideas
Business Idea Center
As you begin to brainstorm potential business concepts, use this resource to generate
some ideas. This resource provides business ideas categorized by industry,
interests and professions.
http://www.entrepreneur.com/businessideas
Workshopping
Project Directions
Overview
You work in the Product Development Department of ACME Widget Company. To incentivize
innovation and creativity within the organization, ACME has announced the first annual ACME
InvenTank, a contest in entrepreneurial spirit. Contestants will generate and develop their own original
idea for a product or service, test the concept’s feasibility, develop a business plan and, finally, deliver a
final presentation to a panel of judges with the potential of earning funding to bring the concept to life.
Directions
Part 1Narrow It Down: Before developing a business idea, you will need to think of one unique
product or service to sell. Entrepreneurship is often driven by an entrepreneur’s own passions and
interests. Take some time to consider which of the business ideas you developed in your brainstorm from
the previous project you would most like to pursue, and try to select something that you are passionate
about. If you have decided not to pursue any of your initial ideas from the Business Idea Brainstorm, or
you are struggling to develop a final idea, revisit the Business Idea Center in project resources.
Once you have narrowed your business ideas down to a single, final idea, create and submit a document
in which you identify and explain your final business idea and discuss why you believe it could be a
viable business concept. Also in the document, answer the first eight questions from the 20 Questions
Before Starting page in project resources. Explain why you selected this business idea, and respond to
each of the eight questions. As you answer these questions, you will need to make some assumptions and
educated guesses. In your answers, be sure to explain your rationale for each response, and cite
any research that influences your answers.
Keep in mind that the process of entrepreneurship is an iterative one. Throughout the development of
your business idea, you will receive feedback and suggestions to improve its viability. You should expect
your business idea to go through many changes along the way. This isn’t a bad thing; no successful
business got to where it is today without reacting to feedback and adapting.
Part 2Provide Feedback: Since creating a business plan is one of the most important aspects of
entrepreneurship, ACME has planned a series of workshops to provide InvenTank contestants the
opportunity to learn more about the structure and contents of a business plan. During these workshops,
you will examine sample business plans for companies in various industries and identify their strengths
and weaknesses.
At the beginning of the first workshop, Winnie Widget hands out a packet containing documents about
formatting and writing business plans, and some of the most common mistakes made when writing
business plans. Also included in the workshop packet is a Sample Business Plan for a start-up smartphone
vendor, which includes the company’s pro forma income statement and breakeven analysis, and a Market
Intelligence Report filled with information, data and analysis on the smartphone market and
industry. Working with industry experts, ACME’s marketing team has developed this report to help you
provide clear, informed feedback. You can find these documents in the project resources.
To provide effective feedback on the Sample Business Plans credibility, be sure to do the following:
As you read through the Sample Business Plan, pay close attention to detail, looking for any
inconsistencies or errors in the plan’s logic.
Use the information in the Market Intelligence Report to help determine which aspects of the Sample
Business Plan are accurate or flawed.
Review the plan’s accompanying Breakeven Analysis and Pro Forma Income Statement. Since you will
need to develop a breakeven analysis and pro forma income statement for your own business, ACME has
included some questions in the Business Plan Feedback Form that you will need to answer about these
documents to get you thinking about the financial aspect of starting a business.
Once you have read through the Sample Business Plan, Breakeven Analysis, Pro Forma Income
Statement and all other project resources, complete the Business Plan Feedback Form, answering each
question completely. Be sure to provide specific examples from the plan to support your feedback.
DELIVERABLES
(1)Document containing final business idea description
Includes: answers to eight “before starting” questions
Suggested Word Count: 500
Accepted File Types: .doc, .docx, .odt, .rtf, .txt, .pdf
(2)Completed Business Plan Feedback Form
Suggested Word Count: 700
Accepted File Types: .doc, .docx, .odt, .rtf, .txt, .pdf
Project Resources
Business Plan Feedback Form
Once you have read through the Sample Business Plan and analyzed the data in the
Market Intelligence Report, complete this feedback form, commenting on the
elements that could use improvement and those that are working well.
http://cfaresources.s3.amazonaws.com/BA%20Management/Innovate%20Like%20an%20Entrepreneur/B
usinessPlanFeedbackForm.docx
Sample Business Plan
Read through this sample business plan, paying close attention to details. Keep in mind
that you will be providing thorough feedback on each element of the plan, so consider
what is working well and which areas could use improvement.
http://cfaresources.s3.amazonaws.com/BA%20Management/Innovate%20Like%20an%20Entrepreneur/S
ampleBusinessPlan.pdf
Market Intelligence Report
Use this resource as a reference as you provide feedback on the credibility of the
Sample Business Plan. Reference the data, information and analysis in this report in
your feedback as you address elements of the Sample Business Plan.
http://cfaresources.s3.amazonaws.com/BA%20Management/Innovate%20Like%20an%20Entrepreneur/
MarketIntelligenceReport.pdf
20 Questions Before Starting
In 50 to 100 words, answer the first eight questions in this resource.
http://web.archive.org/web/20150905190359/https://www.sba.gov/content/20-questions-before-startingbusiness
Example Complete Business Plan
Review this example of a well conceived business plan for a telephone sales company.
http://www.bplans.com/telephone_sales_business_plan/executive_summary_fc.php
Top 10 Business Plan Mistakes
Read through this list of some of the most common mistakes in business plans. As you
provide feedback on the Sample Business Plan, consider whether any of these
mistakes were made.
http://www.entrepreneur.com/article/81188
Pro Forma Income Statement (Sample Business Plan)
This pro forma income statement should be read as a part of the Sample Business
Plan. Review this document before you complete the Business Plan Feedback Form.
http://cfaresources.s3.amazonaws.com/BA%20Management/Innovate%20Like%20an%20Entrepreneur/P
ro-forma%20Income%20Statement%20-%20Sample%20Business%20Plan.xlsx
Breakeven Analysis (Sample Business Plan)
This breakeven analysis should be read as a part of the Sample Business Plan. Review
this document before you complete the Business Plan Feedback Form.
http://cfaresources.s3.amazonaws.com/BA%20Management/Innovate%20Like%20an%20Entrepreneur/B
reak-even%20Analysis%20-%20Sample%20Business%20Plan%20-%20Sheet1.pdf
Breakeven Analysis: How to Know When You Can Expect a Profit
Read through this resource for information about the purpose of breakeven
analyses. You will be reviewing a completed breakeven analysis as a part of your
feedback on the Sample Business Plan, and you will develop your own when you
conduct a feasibility study.
https://www.sba.gov/content/breakeven-analysis
Boundless: Pro Forma Income Statement
Read through this resource for information about the purpose and contents of pro forma
income statements. Pay particular attention to the “Pro Forma Income Statement”
section of this resource. You will be reviewing a completed pro forma as a part of your
feedback on the Sample Business Plan, and you will develop your own when you create
your business plan.
http://web.archive.org/web/20150601201032/https://www.boundless.com/finance/textbooks/boundlessfinance-textbook/forecasting-financial-statements-4/forecasting-the-income-statement-50/pro-formaincome-statement-244-7076/
Business Idea Center
If you are having trouble finalizing your business idea, consider revisiting this resource
to review potential business concepts.
http://www.entrepreneur.com/businessideas
Is This Feasible?
Project Directions
Overview
You work in the Product Development Department of ACME Widget Company. To incentivize
innovation and creativity within the organization, ACME has announced the first annual ACME
InvenTank, a contest in entrepreneurial spirit. Contestants will generate and develop their own original
idea for a product or service, test the concept’s feasibility, develop a business plan and, finally, deliver a
final presentation to a panel of judges with the potential of earning funding to bring the concept to life.
Directions
Part 1Conduct a Feasibility Study: Now that you have come up with your final business idea, you
will need to conduct research to determine whether your venture will be viable in the
marketplace. Complete the Feasibility Study Template, answering each question completely. Research is
an indispensable aspect of entrepreneurship. You will need to conduct your own research and make some
educated guesses and estimations throughout the process of completing the template. Use the IBIS World
resource in the project resources as a starting point for conducting your research. Be sure to explain,
citing research, how you came to each conclusion about your product or service.
Part 2Perform Financial Projections: In conjunction with the Feasibility Study Template, you will
complete the Breakeven Analysis and Sales Forecast Template. In this template, you will calculate the
number of units of one product or service that you will need to sell for your business to break even, and
you will project your business’s first year’s sales. These projections will be important to note when
developing your business plan. For guidance on completing these projections, refer to Breakeven and
Sales Forecast Explanations, Examples and Assumptions in project resources.
Sales Forecast: In this section, you will estimate the gross revenue and cost of goods sold during
your business’s first year’s sales. While the Breakeven Analysis focused on just one product or service,
any additional products or services your company might produce will be included in your sales forecast.
If your company will sell more than one product or service, use the Worksheet for Multiple Products or
Services to help calculate a final gross revenue and cost of goods sold. Your sales forecast will be
important for completing a pro forma income statement with your final business plan.
Breakeven Analysis: The ACME InvenTank competition requires that each business break even within
its first year. In this section of the template, you will determine how much of one product or service your
business will need to sell to achieve that goal. Note: Your business may sell more than one product or
service, but for the purposes of your breakeven analysis, calculate the breakeven point for just one
product or service. For a refresher on breakeven analyses, you can review the resources and deliverables
from Investigate Managerial Accounting.
Note: Much of the information in your feasibility study, breakeven analysis and sales forecast will be
carried over into the business plan you will develop in the next project.
DELIVERABLES
(1)Completed Feasibility Study Template
Accepted File Types: .doc, .docx, .odt, .rtf, .txt, .pdf
(2)Completed Breakeven Analysis and Sales Forecast Template
Accepted File Types: .doc, .docx, .odt, .rtf, .txt, .pdf
Project Resources
Feasibility Study Template
Once you have developed an idea for a product or service, complete this template to
determine the feasibility of creating a business around your idea. Since your product or
service is not real, to answer each question you will need to conduct research and, in
many cases, make educated guesses and projections.
http://cfaresources.s3.amazonaws.com/BA%20Management/Innovate%20Like%20an%20Entrepr
eneur/FeasibilityStudyTemplate.docx
Breakeven Analysis and Sales Forecast Template
Use this template to complete your breakeven snalysis and sales forecast. See
“Breakeven and Sales Forecast Explanations, Examples and Assumptions” in project
resources for guidance on completing these projections.
http://cfaresources.s3.amazonaws.com/BA%20Management/Innovate%20Like%20an%20Entrepr
eneur/BreakevenAnalysisandSalesForecastTemplate.docx
Breakeven and Sales Forecast Explanations, Examples and Assumptions
Review this document as you complete your Breakeven Analysis and Sales Forecast
Template. This document contains guidance and examples to help you complete your
financial projections.
http://cfaresources.s3.amazonaws.com/BA%20Management/Innovate%20Like%20an%20Entrepr
eneur/BreakevenAnalysisandSalesForecastExplanationsandKeyAssumptions.pdf
Worksheet for Multiple Products or Services
If your business will sell more than one product or service, use this worksheet to
calculate your business’s total revenue and cost of goods sold. To view an example of a
completed worksheet, see the second sheet labeled “Example Completed Worksheet.”
Note: The numbers generated will represent yearly totals. You will need to estimate
quarterly totals in your sales forecast and Pro Forma Income Statement Template.
http://cfaresources.s3.amazonaws.com/BA%20Management/Innovate%20Like%20an%20Entrepr
eneur/Worksheet%20for%20Multiple%20Products.xlsx
IBIS World
Use this resource to research the market, industry and competition for your chosen
product or service.
Note: You will need to log in to this database using your SNHU library credentials.
http://libguides.snhu.edu/go.php?c=3480516
Conducting a Feasibility Study
Read through this resource, which explains the purposes of conducting a feasibility
study. Although you will not be performing every element outlined in this resource in
your own feasibility study, it will be useful to understand the elements that go into a
feasibility study.
http://web.archive.org/web/20151019103416/http://uwcc.wisc.edu/manual/chap_5.html
US Framework and VALS Types
Refer to this resource for information about psychographic characteristics of your
product’s or service’s customer base. Determine which category your customers would
fall into.
http://www.strategicbusinessinsights.com/vals/ustypes.shtml
What Makes a Business?
Watch this video, which explains the key difference between a great idea and a
viable business.
http://ocw.mit.edu/courses/sloan-school-of-management/15-390-new-enterprises-spring-2013/videotutorials/lecture-12/
New Business Venture Opportunity and Analysis
Read this chapter (pages 71 to 85), which describes some of the key considerations of
opportunity recognition and industry analysis in entrepreneurship. These concepts will
be important for both your feasibility study and business plan.
http://ezproxy.snhu.edu/login?url=http://search.ebscohost.com/login.aspx?direct=true&AuthType=
cookie,ip,url,cpid&custid=shapiro&db=nlebk&AN=107005&site=ehost-live&ebv=EB&ppid=pp_71
From Idea to Business – Video 2
This series of videos describes the process of developing a fully conceived business
model from your initial business idea.
https://cfaresources.s3.amazonaws.com/Captions/player.html?v=wlKP-BaC0jA&c=1253432
From Idea to Business – Video 1
This series of videos describes the process of developing a fully conceived business
model from your initial business idea.
https://cfaresources.s3.amazonaws.com/Captions/player.html?v=wwShFsSFb-Y&c=1253431
From Idea to Business – Video 3
This series of videos describes the process of developing a fully conceived business
model from your initial business idea.
https://cfaresources.s3.amazonaws.com/Captions/player.html?v=iA5MVUNkSkM&c=1253433
Learn-by-Doing
As part of your feasibility study, you will describe how you could prototype your product
or service to test its market viability. Read this resource about the importance of
learning-by-doing, the concept that entrepreneurs must first experiment with new
products and services if they are to be successful.
Sanders, G. (n.d.). Building Things and the Role of Learn-By Doing in Developing Ideas
for New Products and Services. In Developing New Products and Services. Buffalo, NY:
State University of New York at Buffalo.
http://cfaresources.s3.amazonaws.com/BA%20Management/Innovate%20Like%20an%20Entrepr
eneur/Learning-by-doing.pdf
Develop a Plan
Project Directions
Overview
You work in the Product Development Department of ACME Widget Company. To incentivize innovation and
creativity within the organization, ACME has announced the first annual ACME InvenTank, a contest in
entrepreneurial spirit. Contestants will generate and develop their own original idea for a product or service, test the
concept’s feasibility, develop a business plan and, finally, deliver a final presentation to a panel of judges with the
potential of earning funding to bring the concept to life.
Directions
Now that you have completed your feasibility study, you will put the information you’ve gathered to use by creating
a business plan for your entrepreneurial venture. Taking into consideration what you’ve learned about the feasibility
of the various aspects of your product or service, and considering what you learned about writing business plans in
the ACME business plan workshop, write a complete entrepreneurial business plan that details the process that
will bring your venture to life as a viable business. Remember, your plan should expect to break even within the first
year. The quality of your plan will be a large factor when the ACME InvenTank panel of judges decides whether
to invest in your business idea. For more details on what specific elements to include in your plan, see “SBA: Create
Your Business Plan” and “Business Plan Samples” in project resources. At a minimum, your business plan should
contain all of the following key sections:
Executive Summary (Note: Since the purpose of the executive summary is to summarize all elements of the plan,
you should write it last, after all the other sections of your plan are finalized.)
Description of Company
o In this section, include a description of the company’s ownership structure, management and organization.
Description of Product/Service
Market Research and Analysis
Marketing Plan
o In this section, include a description of your company’s target market, general marketing strategy and marketing
budget. Include an analysis of the Four Ps for your company (product, place, price and promotion). Refer to the
resources and your deliverables from Market a Product or Service if you need a refresher on these concepts.
Finance
o Plan for financing: How will you raise the money necessary to get your business started? In this section,
include a description of your plan to finance your start-up. There are a variety of strategies to consider in “10
Ways to Finance Your Business” in project resources.
o Breakeven analysis: In this section, include the breakeven analysis that you performed in your Breakeven
Analysis and Sales Forecast Template.
o Pro forma income statement: Using the sales forecast you generated in the Breakeven Analysis and Sales
Forecast Template, complete the Pro Forma Income Statement Template for the first year (four quarters) of
sales. Keep in mind that you should expect your plan to break even in the first year. For guidance on completing
this template, refer to “Pro Forma Explanations and Assumptions” in project resources. You may also wish to
review the resources and deliverables related to income statements from Account for Business.
o Note that you do not need to create a balance sheet or statement of cash flows for this project.
Note: Many elements of your business plan can be carried over directly from your Feasibility Study and Breakeven
Analysis and Sales Forecast Templates, including the breakeven analysis, sales forecast, and descriptions and
analysis of the company, product or service, business model, market and industry. Be sure to consider which
elements have changed based on the findings from the feasibility study. Explain any changes, detailing how your
business plan represents an improvement on the issues that surfaced during the feasibility study.
DELIVERABLES
(1) Business Plan
Suggested Word Count: 2000
Accepted File Types: .doc, .docx, .odt, .rtf, .txt, .pdf
(2) Completed Pro Forma Income Statement Template
Accepted File Types: .doc, .docx, .odt, .rtf, .txt, .pdf
Project Resources
Pro Forma Income Statement Template
Use this template to complete your pro forma income statement. Refer to Pro Forma
Explanations and Assumptions in project resources for guidance on making financial
projections.
http://cfaresources.s3.amazonaws.com/BA%20Management/Inno
vate%20Like%20an%20Entrepreneur/ProFormaIncomeStatement
Template.docx
Pro Forma Income Statement Explanations and Key Assumptions
Refer to this document when completing your Pro Forma Income Statement Template
for guidance, examples and assumptions upon which to base your financial projections.
http://cfaresources.s3.amazonaws.com/BA%20Management/Inno
vate%20Like%20an%20Entrepreneur/ProFormaExplanationsandK
eyAssumptions.pdf
Worksheet for Multiple Products or Services
If your business will sell more than one product or service, use this worksheet to
calculate your business’s total revenue and cost of goods sold. To view an example of a
completed worksheet, see the second sheet labeled “Example Completed Worksheet.”
Note: The numbers generated will represent yearly totals. You will need to estimate
quarterly totals in your sales forecast and Pro Forma Income Statement Template.
http://cfaresources.s3.amazonaws.com/BA%20Management/Inno
vate%20Like%20an%20Entrepreneur/Worksheet%20for%20Multip
le%20Products.xlsx
IBIS World
Use this resource to research market and industry analysis, outlook and statistics about
your product or service to support your business plan.
http://libguides.snhu.edu/go.php?c=3480516
SBA: Create Your Business Plan
Read through the resources on this page for information about how to write the various
sections of your business plan.
https://www.sba.gov/writing-business-plan
Financing Company Operations
Developing a solid plan for financing your business venture can make or break your
business plan. Read this resource with particular focus on the section that begins with
the heading “Financing Company Operations.”
https://courses.lumenlearning.com/boundless-business/chapter/starting-a-small-business/
How to Write a Business Plan
Watch this video, which outlines the major components of a business plan.
https://www.youtube.com/watch?v=SMr_uLZV-eM
Business Plan Samples
This website provides several examples of completed business plans for businesses in
a variety of industries. Although your business plan will not contain all of the same
sections found in these example plans, you can use these examples as inspiration for
the contents of your own plan.
http://www.bplans.com/sample_business_plans.php
Choose Your Business Structure
Read through the descriptions of various business structures in this resource for help
with determining the structure of your business.
https://www.sba.gov/category/navigation-structure/starting-managing-business/starting-business/choose-yourbusiness-stru
10 Ways to Finance Your Business
Read this article, which covers some of the most common methods for funding a startup.
http://web.archive.org/web/20150515063735/http://www.inc.com/guides/2010/07/how-to-finance-yourbusiness.html
The Final Pitch
Project Directions
Overview
You work in the Product Development Department of ACME Widget Company. To incentivize innovation and
creativity within the organization, ACME has announced the first annual ACME InvenTank, a contest in
entrepreneurial spirit. Contestants will generate and develop their own original idea for a product or service,
test the concept’s feasibility, develop a business plan and, finally, deliver a final presentation to a panel of
judges with the potential of earning funding to bring the concept to life.
Directions
With your business plan developed, your new business is ready to open to the world! . . . Almost. First you’ll
have to face the ACME InvenTank panel of judges with a professional, polished and persuasive pitch to prove
that your venture is worthy of a financial investment. The panel of judges is made up of five successful local
entrepreneurs, each of who have been chosen by ACME Widget based on the innovative nature of their
businesses. With their funding and support, it will be much easier to get your new enterprise off the ground.
Create a three- to five-minute video presentation in which you deliver your best pitch of your product or
service’s value and market opportunity. The presentation should briefly explain the concept of your product or
service, and highlight market and industry analysis from your business plan that supports your belief that your
product or service will be viable in the marketplace. Be sure to emphasize the value your product or service
will offer to both customers and users. The judges don’t have any time to waste, so remember to be concise,
clear, direct andmost importantlypersuasive. Your presentation should include a visual aid of some kind
to demonstrate your product or service to the panel of judges. This could be a prototype, an illustration or any
visual representation of your product or service. Make sure to follow best practices for creating a presentation.
Refer to the CfA Presentation Guide for tips and tools.
DELIVERABLES
(1)Pitch Presentation Video
Three to five minutes
Accepted File Types: .mp4, .webm, .mov, .wmv
(2)APA reference list (As Needed)
Accepted File Types: .doc, .docx, .odt, .rtf, .txt, .pdf
Project Resources
Getting Sharks to Bite: The Art of the ‘Shark Tank’ Pitch
Watch this video, which highlights some of the most successful entrepreneurial sales
pitches from the ABC show “Shark Tank.”
http://abcnews.go.com/Entertainment/video/sharks-bite-art-shark-tank-pitch-23577142
The Value Creation Plane
Watch this video, which provides information about how to set your product or
service apart with value creation.
5 Steps to Creating More Customer Value
Read this article to learn techniques for creating customer value.
http://www.inc.com/karl-and-bill/5-steps-to-creating-more-customer-value-.html
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