Unit 2: Starting Your Own Business-Group Project

 

Scenario

This unit will focus on communication skills and strategies essential for effective argumentation and persuasion. You and your team are aspiring entrepreneurs and want to come up with an innovative product or service that solves a particular problem or fill a niche in the market. You first need to decide how to “pitch” this idea to potential investors and partners in the form of a short video. Then you will need to  complete some market research and analysis to create a business informational report. Finally, you will debut your product or service either by a prototype, video, or website.

 

Genre	Purpose	Audience	Role	Rhetorical Situation
Unit Project: Business Startup   Feeders: 1-minute video pitch Business Informational Report “Product/Service”Launch	Launch an innovative product or service.	A particular market or Demographic	Entrepreneur	You and your team have come up with an innovative new product or service.

Step 1: Find a Great Short Pitch

Go to https://events.google.com/io/ and https://www.apple.com/apple-events/ take a look at their product launch videos. As you watch the presentations, pay close attention to how the product is positioned and what type of audience/demographic is being targeted.

Go to, https://www.tesla.com/videos and take a look how Tesla quickly pitches a particular feature or set of features on one of their products.

Go to http://abc.go.com/shows/shark-tank/episode-guideto view the current season of Shark Tank episodes for free. While you watch the episodes, pay attention to the business ideas and the presentation of the ideas. You may wish to consult Wikipedia’s episode guide to find segments of interest: http://en.wikipedia.org/wiki/List_of_Shark_Tank_episodes

 

Step 2: Feeder Assignment #1: Prepare a 1-minute Pitch 

In order to attract investment and possible customers, you prepare a 1-minute pitch to dazzle them. A great business idea must appeal to investors as well as a greater public. Your group will choose the best idea for a product or service and prepare a 1-minute video pitch to present to the class. After everyone in your group has each pitched your ideas, your group will choose the best product or service to present. Your video pitch should address the following questions:

• Who are you?
• What is your product or service? How does it work?
• What problem does it solve?
• Who is your target market?
• How does your product or service differ from competitors?

You will also submit a separate group statement  (~150 words) that outlines each member’s role and his/her contributions to the team. You will receive a group grade (75%) and an individual grade (25%). If it becomes apparent that you did not adequately participate with your team, you could receive a reduced/failing grade regardless of how well the group did on the assignment overall.

Step 3: Feeder Assignment #2: Write a Business Informational Report

Congratulations! The investors loved your 1-minute pitch and your group has been given an opportunity to present your business more formally. First, they have asked for a Business Informational Report to help them decide how much they would like to invest in your company. A Business Informational Report provides valuable information such as a company description, the business background of the principals, and market research and analysis. Although the primary goal of this report is to inform facts (i.e. describe conditions in the market), it will also contain a measure of analysis and interpretation (i.e. analyzing threats and opportunities) to help investors gain insight into and evaluate the viability of your business idea. The Business Information Report should include most (if not all) of the following elements:

• Title Page
• Table of Contents
• Executive Summary
• Company Description
• Market Analysis
• Organization & Management
• Service or Product Line(s)
• Marketing & Sales
• Funding Request
• Financial Projections

Your group’s report should be 6-8 single-spaced pages in total and formatted in APA style. You will also submit a separate group statement  (~150 words) that outlines each member’s role and his/her contributions to the team. You will receive a group grade (75%) and an individual grade (25%). If it becomes apparent that you did not adequately participate with your team, you could receive a reduced/failing grade regardless of how well the group did on the assignment overall.

What’s-in-a-Business-Information-Report1

Business-Information-Report-Grading-Rubric

Unit Project: The Product/Service

Now that you have submitted your business informational report, you can focus on creating a prototype of a product/service, a 10-minute video detailing the product/service, or a website that describes your company in depth. Your group will provide a quick 5 minute presentation and a brief Q&A session about your product/service.  A successful launch meets the following requirements:

• Clearly outlines the problem your product/service will solve (or the niche in the market)
• Clearly argues a value proposition (how your business solves the problem in a unique way)
• Uses research to support claims
• Uses language aimed at a general audience (avoids jargon)
• Clear, focused presentation and smooth, timely delivery
• Each group member plays a significant role in the presentation

You will also submit a separate group statement  (~150 words) that outlines each member’s role and his/her contributions to the team. You will receive a group grade (75%) and an individual grade (25%). If it becomes apparent that you did not adequately participate with your team, you could receive a reduced/failing grade regardless of how well the group did on the assignment overall.

Q&A session

Your group is expected to field queries from the public (class) in a professional manner. You should take this opportunity to engage in discussion with the public and demonstrate that you are a smart, knowledgeable group of people with a great business.

Unit Project Grades

Your unit project grade will be composed of a group grade (75%) and an individual grade (25%). If it becomes apparent that you did not adequately participate with your team, you could receive a reduced/failing grade regardless of how well your team did on the assignment overall.