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ENTREP1011 “pitch an idea” worksheet This worksheet will help you to prepare your business idea presentation, by identifying problems that can become opportunities for a new business. 1. In one sentence, state the problem or unmet need you have identified. 2. Briefly explain how you propose to solve that problem. 3. Who has this problem and how urgent is it? (your target market) 4. What evidence do you have that the problem exists and is widespread? 5. Who else is solving this problem or a similar one? (your competitors) 6. Why is this a good opportunity for you? (skills, knowledge, connections etc) 7. What would your first steps be to make your idea into a business opportunity? Your task is to choose an idea for a new business or service to deal with an identified problem of your choice. Your idea must meet the following criteria: · Ideally, it should be an original idea. However, you can also present an idea for a new business or service based on improving an existing idea (for example, you might come up with a way to launch better online networking events). · The idea must be for-profit or not-for-profit, but it must be capable of making you at least $1000/month (remember not-for-profits still pay their staff!) · You must be able to implement this idea yourself – ie, it must be something you could conceivably actually do. Having chosen and researched the idea, you will then record a 2 minutes presentations including visuals. Feel free to be creative with your presentation style. You are graded on how well you present as well as the structure/content of your presentation. In your video, you need to consider the following questions: · What problem are you solving? · How are you solving that problem? · Who is your target market and why? · What is the evidence that the market need exists? · List – by name – current providers of the solutions for this problem and describe how your solution is better than the current providers · Why are you the right person to implement this idea? (What special knowledge, exertise, experience or skills qualify you to be the provider of this solution? [e.g., industry experience, personal experience with this problem, friend or relative with this problem, empathy, sales skills, organizing skills, etc.) · What would be your first steps to bring your idea to reality? PS: Reference any sources used. You will be marked on the following criteria: · Presentation style Clear voice, varied tone – easy to understand and keeps audience listening? Did visuals/audio support the story well? Was the visual content appealing to look at? Were any of the visuals/audio distracting or off-putting? · Quality of idea presented Is the idea original, or an innovative variation of an existing product/service? Has the idea been well thought-out in terms of: · Problem/puzzle/dilemma solved? · How solution solves problem/puzzle/dilemma? · Problem solved? · How solution solves problem? · Target market: Who and why? · Evidence of market need? · Competitors · Personal Fit · First steps · Underlying research Market need: · Existence · Size · Urgency · Solution proposed addresses problem / need · Existing solutions (competitors) · Other relevant evidence Marking Guide – ENTREP1011 business idea presentation (15%) Complete top section before handing to your tutor Student name: Student number: Date of presentation: Tutorial time: Topic of presentation Standard achieved key: N = Did not meet criteria; P = Needs work; C = Satisfactory effort – room to improve to Good effort; D = Great effort; HD = Above expectations Presentation style (3 possible marks) Clear voice, varied tone – easy to understand and keeps audience listening confidence, authority, conviction, “owning the stage” NP C D HD Presentation visuals and audio (3 possible marks) Did visuals/audio support the story well? Was the visual content appealing to look at? Were any of the visuals/audio distracting or off-putting? NP C D HD Quality of idea presented (4 possible marks) Is the idea original, or an innovative variation of an existing product/service? Has the idea been well thought-out in terms of: · Problem solved? · How solution solves problem? · Target market: Who and why? · Evidence of market need? · Competitors · Personal Fit · First steps NP C D HD Underlying research (4 possible marks) · Market need: · Existence · Size · Urgency · Solution proposed addresses problem / need · Existing solutions (competitors) · Other relevant evidence NP C D HD The ‘wow’ factor (1 mark) This mark is only awarded if the presentation clearly engages and excites the audience, leaving them wanting to know more and where the idea has significant opportunity based on proposed development. TOTAL MARK (out of 15) Other comments - Please note: Questions above that have an ‘X’ are areas it is suggested you should focus on to improve. Questions with a ‘tick’ are aspect of you presentation that were particularly strog.