This assignment is intended to get you focused on your project early in the semester.It also serves to give you an idea of what it’s like to “pitch” a deal to a potential investor.
Wearing my instructor and mentor hat, I would like to know a bit about what you are proposing to do for 50% of your class grade… this so I might coach you a bit early on so you don’t end up going off the rails at the last minute. I’d like you to understand the process of how an entrepreneur typically raises support for an idea with an oral and written summary that sketches out the big picture… this before you invest a lot of time and energy in the detail work. Do you understand the process? Can you make a convincing argument for your idea in a friendly, classroom environment?
Since there is a real world component to this class (e.g. the cash competition), I’d like you to also understand how an investor views an opportunity. To that end, your classmates and I will also wear the hat of an investor when I provide you with feedback. Does this opportunity interest me? Is it worth exploring further with another meeting? What’s my win? Is this a good, safe way for me to make a bunch of money in a reasonable period of time?
1. Elevator Pitch
In no more than three (3) minutes, tell the class about your idea. Convince your audience that it is a good business idea. Get your audience to agree to a next meeting. You can use whatever props you want. You can use less than 3 minutes if you want, but not more than 3 or you will be penalized… so be sure to practice what you plan to say!
2. Written Summary
Submit a brief written overview of your “deal” in an executive summary format. Up to five (5) pages. There are many formats for an executive summary. Some formats are noted in the References section of this website. You can find others in the library or on the web. (If you find a particularly good resource, please share it in the class discussion forum with a brief critique of why you like it.) The bottom line is that your proposal needs to get the reader excited enough about your opportunity that they want to meet you to find out more.
- be convincing: I will take a show of hands after each presenter to see who would invest if they had the cash
- be businesslike: Be prepared for your presentation. Make your paper “sell”
- don’t waste your audience’s time: 10% penalty if you take more than 2 minutes to get set-up, 10% penalty if you can’t do your pitch in 3 minutes or less
- you can send me your exec summary by email or give me a hard copy. Early is fine. Late will be penalized as in the syllabus
- I would like to allow one (1) question per presenter
- same grade applies to all team members. Up to each team to determine how the workload is allocated