Introduction
You have a brilliant concept, but you don't have any money. In just one week, the renowned "Shark Tank" investors will be in town, searching for the next great thing. They want a solid business plan, not just a cool product. Are you prepared to persuade the Sharks to open their checkbooks and transform your pastime into a business?
Task
Your task is to develop a professional pitch deck as a "Founder Team" in groups of three.
Your finished product needs to consist of:
A digital mockup or prototype sketch of your offering.
a market analysis that pinpoints the demographic you want to reach.
A Financial Request: What is the desired amount of money and what portion of your business would you donate?
Process
Ideation: Come up with a solution to a daily issue. This issue must be resolved by your product. For inspiration, consult Entrepreneur's Guide to Ideation.
Describe Your Client: Who is purchasing this? To obtain demographic information for your target area, use QuickFacts from the Phil.. Census.
Examine the Competition: Look for comparable goods on Google Shopping or Shopee. How is yours more affordable or superior?
Crunch the Numbers: To determine how much money you truly need to start, use this Startup Cost Calculator.
Build the Pitch: Use Canva's Pitch Deck Templates to create your slides.
Evaluation
Your pitch will be judged on the following scale:
| Criteria | The Visionary (4) | The Professional (3) | The Amateur (2) |
|---|---|---|---|
| Market Research | Evidence of a significant client base supported by data. | Identifies a clear target audience. | Target audience is vague or "everyone." |
| Competitive Edge | Discusses in detail why they outperformed the competitors. | Mentions 1-2 competitors. | Claims to have "no competition." |
| Financial Literacy | Realistic budget and logical "Ask." | Basic budget provided. | Numbers are missing or unrealistic. |
| The Pitch | Persuasive, confident, and visual. | Clear and organized. | Hard to follow or lacks visuals. |
Conclusion
Whether the Sharks made an investment or "went out," you now understand the fundamentals of the Lean Startup approach. You now know that research, statistics, and persuasion are all important components of a successful firm.
Reflection: Would you accept a deal if a shark offered you half the money in exchange for twice the equity you requested? Why not, or why?