Congratulations for getting to the mid-pint of the program! As you get closer to completing the program you are going to be working on the final deliverables during this lesson. You will be taking the business model you worked on in lesson 6 to complete the written portion of your app business plan. In preparation for the pitch competition, you will review an example business plan from a previous winning team. The business plan consists of the team name, app name, and member names, as well as the executive summary, company summary, product description, market analysis, strategy & implementation plan, and financial analysis. This document will help you develop a comprehensive plan for your company and flesh out how your app is solving your customer’s recognized problem.
-Question prompt: what do you think it means when we say primarily invest in people? -Emphasize relationship building, first impressions, networking, etc-Log out of every social media service and then visit your profile to see how an investor would see you; do you look like someone to invest in?-Do you have a reputation? a history of success or leaving a trail of unfinished projects?checking your online image --Do you have very public profiles of your personal life? Do you have blogs or comments out there about sensitive topics? (e.g. religion, politics) -EX: Justin Bieber - Question Prompt: What is one word you would use to describe Justin Bieber (or other person in the media currently relevant in your country?) What did you use to come up with that word? (Emphasize that we use media and image to come up with our perceptions of people)-Consider your email addressIf your current email address isn’t very professional, set up a new Gmail account; you can have the mail forwarded to your other accounts so you’ll never miss anemail
Messaging is how you describe your product to consumers. Channels are the ways that the message about your product gets to your consumers.Let’s compare these two images: the same message is being sent, recycle your shopping bags. The one on the left uses more color and inviting images of fruit whereas the other one is plan and only uses a recycling symbol to advertise their message. Is one more appealing to you than the other? Why?
The colors you use on your app screen and in your logo can set the mood for what people will feel when they interact with your app. Different colors can create different mental and physical responses from your consumer, so it’s important to think about them. Take some time to strategically think about what colors you want to use based on what you are designing your app to do for your consumer.Color WheelPrimary: red, yellow, and blue (no other colors can be mixed to make these colors.) Secondary: green, orange and purple (created by mixing the primary colors) Tertiary: yellow-orange, red-orange, red-purple, blue-purple, blue-green, and yellow green Color tips: Look to nature for inspiration of colors you want to use Check out your competition and how they use colors Ask yourself what you want the colors you use to do for the consumer Color meanings: Red: is one of the top two favorite colors of all people. Approximately 77% of all flags in the world contain red in them. Red is the international color for stop. Yellow is the most vibrant of colors and represents happiness and creativity. Generally, yellow captures our attention more than other colors. Blue is the favorite color of most people. The shade of blue can change the feeling you get from something. This is often the most over-used color so be careful with placement.Encourage students to look into how they will use color in their app and logo. Take a look at Colormatters.com, tigercolor.com, color-wheel-pro.com
Ask the teams to give feedback on this example. What do they like about it? What would they do differently?
Here is the link for the 100-word-app description forum: https://technovation.zendesk.com/hc/communities/public/topics/200057830-Lesson-7-100-word-app-description-
Creating a business plan may sound scary but you already did most of the work! When you created your business model worksheet from last lesson you completed some parts of the plan. Your plan will help guide your business and become a document you refer to as an entrepreneur. If you haven’t finished your business model yet then start there so you can use it to create your Business Plan. We will have this lesson and next lesson to continue building your app and final business plan. Refer to the Business Plan template shared with the team leads in the pdf version of the work plan for week 7
To prepare for next week make sure you update your own brand by editing your social media profiles and what appears when you search for yourself on Google. Also, bring a draft of your business plan so we can keep working on it. If you need help please post on the Business Plan forum or talk to your mentor. Also, bring in feedback on the 100-word app description you are testing. This feedback will help you edit your app description to create a strong final deliverable. You are all doing great and we are officially more than halfway through now—the home stretch! Good Job!
Are you interested in building community with other Technovation teams? Do you want to meet other teams who are not in your local area? Would your team benefit from more feedback from other? The Technovation Pal Program can help you do all of that and then some! Teams who sign up by Thursday, March 20th will be paired up with another team and have a virtual meeting to get to know each other. Teams will have the opportunity to exchange final deliverables for feedback, meet each other, and learn more about what other teams are working on. If you are interested, click to fill out the interest form! http://tinyurl.com/pa4plqd
Technovation challenge workplan for week 7
Promote Yourself and Your Product
Topics • Brand yourself and your app
• Color Wheel
• 100-word app description
• Mid-point check-in (10 mins.)
• Brand impressions (10 mins.)
• App name and logo (40 mins.)
• App description (40 mins.)
• Introduction to Business Plan ( 25 mins.)
• Wrap-up – (5 mins.)
Mid-point Check In
• Congratulations! We’ve reached the mid-point of the
• What are you most proud of accomplishing?
As a team
What are you looking forward to for the rest of the
Control the first impression:
• Seed investors primarily invest in
• Check your/your teams’ online
Google yourself and see what
Would you invest in you?
Do you need to take a new
Why Your Product’s Image Matters
• First Impressions are forever
• Appeal to your target users
Control the first impression:
brand your app
• Name your app
Descriptive vs. fanciful names
• Make a quick logo
Simple logos are fine!
Your app name should be easy to read
Your logo should be included in your pitch
How to use color?
• Color wheel overview
• How to use color in your
app and logo
• Color meanings
Red, yellow, blue
• Do more research on the
colors for your app
Appeal to your target users:
Refine your messaging
• Big companies spend months doing this
• Write a 100-word description of your app to
tell anyone who asks
100 word description
Use this time to brainstorm your 100-word app description. You got a start on this
in your Business Model when you created your 3-sentence description. Now, take
description and refine to be 100-words. This description should be fun and
catchy, and entice someone to buy your app. Have fun! Remember to type up
your final draft, count the words, and have it saved and ready to submit by May
• What is unique about your app?
• What problem do you think your app is solving?
• How are you solving the problem?
• Who is your target consumer and why would they want to use your app?
App description example
App Name: Raw Radiance
App Description Have you ever wondered what’s in your makeup?
Well, stop worrying right now because we have the answer for you!
Love makeup, hate harmful chemical and additives? Enjoy wearing
makeup on a regular basis, but hate the guilt of wearing animal tested
products? Allergic to anything that might alter your beautiful face? If
the following questions apply to you, then consider using our product.
An innovative, easy to use app designed for the Android operating
system, Raw Radiance allows you to search for makeup and various
beauty products based on your own personal preferences. Whether
it’s for allergens or animal friendly products, just login, type in your
preferences, and away you go!
Activity: Share your app
• Share your description and ask for feedback
• Post your description on Technovation forum or
WeTech Facebook Group
• Check any feedback you get and refine your
• Get a mentor to look over your description
Activity: Write your business plan
• Business model Business plan
• Business plan components:
Team, company, and app name
Strategy & Implementation
Task list for next week
• Update your own brand
• Work on the draft of your business plan
• Work on the draft of logo and color scheme
• Test your 100-word app description on 5
people and gather feedback
• Finalize business plan
• Take and post a new team picture
• Post your team’s logo
• Next Week: Career Exploration
• Explore and sign-up for The Technovation Pal
Program - http://tinyurl.com/pa4plqd