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Entrepreneurship Presentation
- 1. Entrepreneurship By Britta Madison
- 2. Overview What is an Entrepreneur What To Do If You Have An Idea Business Plan Composites of a Business Plan Elevator Pitch What is a Elevator Pitch What Makes a Good Elevator Pitch Activity Questions
- 3. Entrepreneur
- 4. What is an Entrepreneur Person who [takes] initiative by organizing a venture to take [advantage] of an opportunity and, as the decision maker, decides what, how, and how much of a good or service will be produced.- BusinessDictionary.com
- 5. What is an Entrepreneur Person who [takes] initiative by organizing a venture to take [advantage] of an opportunity and, as the decision maker, decides what, how, and how much of a good or service will be produced.- BusinessDictionary.com Person who [takes] initiative take[advantage] of an opportunity
- 6. Tumble on an Opportunity….. What do you do???
- 7. What You Would Do??? Find the Right Fit For Your Idea Pick the Right Team
- 8. What You Would Do??? Find a Need that Fits Your Idea Pick the Right Team
- 10. What is a Business Plan “successful business plan is a living roadmap to your company’s future.”
- 11. Composites of A Business Plan Executive Summary Company Description Product or Service Market Analysis Strategy and Implementation Management Team Financial Analysis
- 12. Elevator Pitch
- 13. Elevator Pitch It is a brief overview of an idea for a product, service, or project. The quality of an idea and team is judged by the quality of its pitch “If you can’t say [your strategy] in 60 seconds, you have a problem. Your strategy isn’t clear enough. “ - Tim Berry
- 14. What Makes A Good Elevator Pitch Two Things: A Mantra Having The Five Sacred Elements
- 15. Mission vs. Mantra The mission of Wendy’s is to deliver superior quality products and services for our customers and communities through leadership, innovation, and partnerships “Healthy fast food”
- 16. Mantras “Peace of mind” “Authentic athletic performance” “Enriching women’s lives” “Nourishing the Quality of life” Federal Express Nike Mary Kay Central Market
- 17. “complexity is for BEGINNERS, simplicity is for EXPERTS”
- 18. What Makes A Good Elevator Pitch Two Things: A Mantra Having The Five Sacred Elements
- 19. The Five Sacred Elements Making college a tangible roadmap to success. 7th-10th Students of colors that want to go to college Going to HS/MS connecting with parents/students Through our progress and data, we get funding from the state HERO Program Advisor Unique Product or Service Target Customer How to reach them Make Money? Who is he/she?
- 20. Activity
- 21. Instructions Get into Groups of 5 Break Groups into 4 Food/Beverage Hospitality Retail Music Come up with Mantra and 1 min Pitch Have 5-10mins to work in groups Have 1mins to present
- 22. Section 1: Music Record Label Hip Hop/ Rap Urban Population Age 13-25
- 23. Section 2: Hospitality Hotel Chain Metropolitan area (Bellevue) Upper Class Families Age 35-55
- 24. Section 3: Retail Athlete Shoe Company Basketball Male Age 14-20
- 25. Section 4: Food/Beverage Beverage Company Soda Weight Loss Women Age 20- 45
- 26. Takeaways Anyone Can Be an Entrepreneur Find Your Fit and Get the Right Team Treat a Business Plan Like a Roadmap to Success Keep It Simple With the Elevator Pitch
- 27. Work Cited Berry, T. (2008). A Standard Business Plan Outline. Write A Plan. Retrieved November 30, 2010 from, http://articles.bplans.com/writing-a-business- plan/a-standard-business-plan-outline/29 Pincus, A. (2007, June 18). The Perfect (Elevator) Pitch. Bloomberg Businessweek. Retrieved November 30, 2010 from, http://www.businessweek.com/careers/content/jun2 007/ca20070618_134959.htm Kawasaki, G. (2006, January 2). Mantras Versus Missions. How to Change the World. Retrieved December 3, 2010 from, http://blog.guykawasaki.com/2006/01/mantras_ver sus_.html#axzz176O1B0BM
- 28. Have Any Questions Contact Information: Britta MadisonCollege and Career Coachbmadison@collegesuccessfoundation.org
Editor's Notes
- Key thing I want you to take away from this quote is that an entrepreneur is a person who:Takes initiativeTakes advantage of an opportunityEveryday people are given opportunities, for instance rise your hand if you were given the opportunity to come to the HERO institute?(let them rise their hand)How many you turn in the permission slip in and came…..We you just proved to me and the adults in this room is that you have the mindset of an entrepreneur and you can use this mindset through life, school, and to create your own business.
- Just like going to college, in business, people tumble upon opportunities to create for a product or service. Once they have they have those ideas in place…What the next step? What do you do?
- Just like going to college…First you have to find the right fit for your business. When I say right fit, I mean:Who you going to sell toWhat need are you meetingWhat going to be the quality and price of that productAll these things need to be consider into finding out what is the right fit your idea.
- Next thing you would want to do is find the right team.“Having the right people in the right place at the right time can make a business successful”What does this look like:Having a team that compliments your weaknesses ex: if you are not good if number, find a person that is a good accountEx: if you are good at talking and persuading people, but not that good at being creative at making a website, if a good web/graphic designer.Have a team that is passionate and believes in the vision of your product. When the team is aligned, your business will be aligned to reach any goal/ vision you have for a product, because customers/ your team are people they make your company successful.
- So you laid the ground work. Picked your team. Found the right fit for your product.The next step is to make your idea a tangible, living goal that you can reach. And you do that by creating a business plan.
- A Business Plan is no different than an action plan that students put together to go to college. The concept is the same, they both can be used as guides to an ultimate goal.The more specific and thought-out, your plan is, the easier it will be to:Communicate with people the frame and working of your businessGet people on-board with your mission and advocate for you (possibly give you money)Visualize the outcome because it’s more tangible.
- Executive Summary:Write this last. It’s just a page or two of highlights. Company Description:Legal establishment, history, start-up plans, etc. Product/Service:Describe what you’re selling. Focus on customer benefits. Market Analysis:You need to know your market, customer needs, where they are, how to reach them, etc. (4 P’s: product, price, promotion, place)Strategy and Implementation:Be specific. Include management responsibilities with dates and budgets. Make sure you can track results. Management Team:Describe the organization and the key management team members. Financial Analysis: Make sure to include at the very least your projected Profit and Loss and Cash Flow tables. Most business fail within the first 5 years, to prevent that it is important plan out your financial statements for at least 5 years.
- So now your are on the home stretch. You have:Your fitYour teamBusiness planAnd now you need to start getting people on board with your business so you can get funding from business, private investors, and customers want to buying your product.You can’t give them your business plan and say read this. No! Who has time for that and going to give you that time…so has a team you have to come up a way to communicate your idea in a short period of time.And the best way to do that is to create a Elevator Pitch.
- The idea of a elevator pitch is that if you and your boss was in an elevator and he asked about your business, you would be able to pick it to him or her before you got to your floor.A normal pitch is 60 seconds. Therefore, you have to be concise and belief in the way you communicate your business and strategy to sell it.
- A mantra is a representation of the company’s mission statement that is; simple, meaningful, and memorable.
- Simplicity is the Ultimate Sophistication of a business. If that a five year old child can remember, say, and know who it is…your company has a meaningful strategy that any audience can understand.
- Alignment is key. The same elements that you put in your business needs to be represented in your pitch. And if you cannot pitch your strategy in a minute in a way that your audience can interrupt it….YOU MAY WANT TO RETHINK YOUR STRATEGY!!!
- So now that you know all the elements creating a business and how to communicate your ideas to our audience…it time for you to try.So lets break up into teams of four or five. (ask the adults to help)- Then break the room into 4 sections.
- An entrepreneur is a person that takes INITIATIVE TAKE ADVANTAGE OF AN OPPORTUNITY. Even when peers say you’re crazy or it will fail, you push toward your vision. And if you fail, so what! Pick yourself up, learn from it, and move forward. If you have an idea/product that you are passion about, find where the need is and get the right people on board.…..and if you don’t have the right people on board. You better kick off your bus and make them wait 15mins for the next one.-A Business Plan is like a Four-year Plan to college. It is a tangible roadmap to a goal. The more effort, specifics, and thought that is put into the plan, the more realistic it becomes to you, your team, and potential customers.- Remember a pitch is a reflection of the plan and strategy of a business so….if your strategy is so complicated that you cannot pitch to a customer in 60 seconds…You might want to rethink your plan.