How to tune an idea in Entrepreneurship?
The other day one of my younger cousins came to see me and we had a long chat. At one point he said he was contemplating on a technology-based business idea in which he is keen to invest. I asked him to share the idea with me in detail. Then he explained what he wanted to do, how to implement the idea, approximate cost, budget, tentative loss-profit calculation, marketing procedure and supply chain management system, etc. I found out that the proposal is new in Bangladesh and may be feasible if he can run it properly. Then I asked him to prepare a pitch deck for it. He replied, how about the pitch and how to do it. I informed that what you described me for the last half an hour, write it down. It will be a prototype. When you would make a slide with the gist of the prototype, it is generally named pitch. A pitch deck basically is a brief presentation, often created using PowerPoint, Keynote or Prezi, used to provide your audience with a quick overview/short summary of your company, business venture and startup. You will usually use your pitch during face-to-face or online meetings with potential investor or clients. According to Guy Kawasaki, an American marketing specialist and Silicon Valley venture capitalist, a famous evangelist and author, a pitch should have ten slides, last no more than twenty minutes and contain no font smaller than thirty points. This is applicable for any presentation to reach agreement: for example, raising
In a comparative light there seems to be significant problems, or obstacles, for African-American entrepreneurs. These problems are categorized by environmental factors, opportunity factors, and issues related to capital. The purpose of this paper is to provide sociological, and economical insight to the plight of African-American entrepreneurs. There is an effort to trace the development of African-American entrepreneurship throughout American history, in the post-reconstruction era to the present, in relationship to social conditions of discrimination. Uniquely, African-American entrepreneurs are involved in the affirmation of a paradox of American ideology. African-American entrepreneurs, in
I pitched my presentation knowing who the audience was and preconceived assumptions of their knowledge and understanding, as mentioned above. Feedback from the audience at the end of the presentation suggested the content level was appropriate. I used multiple sources of data (ILM Handouts / Internet) to verify that the presentation was factually correct.
While viewing the “Worst ever pitch, Worst ever product on BBCs Dragons Den” video, I noticed numerous elements that contributed to an ineffective pitch. The first ineffective element I noticed right from the beginning of the video, was that the inventor presenting his idea was not enthusiastic whatsoever. You should have a certain amount of excitement and enthusiasm when pitching your idea, otherwise the “investors” won’t be as interested and it shows in this video. The inventor’s idea was to “reinvent” the traffic signs that have been in effect for a long time, which in my mind, why try to change something that is already working fine. One of the big issues I see with his presentation is the fact that outsiders are already telling him
This is Eonathan from the class ECON 210. I just wanted to reaffirmed that for our next class meeting we need to have a "company" idea or a "product" to start the working in the presentations.
Something very common is how long these speeches can be. If it took me 15 minutes to accurately describe my business I don't think I could ever really be a success. What we want to be able to do is break down our business
The process of pitching itself involves briefly but concisely presenting visual and textual materials to an audience of one or more, with the goal of conveying the project’s core thematic elements to generate interest, production assistance, and/or funding.
I had rewritten it three times and made many changes every time I took a video of myself presenting. I found that at times I had written too much and needed to cut some things out which I feel weakened my pitch as a whole. To really think about it, less than one minute (45 - 50 seconds) is not a lot of time and there is a lot of information that needs to be put into that time. It had taken me cumulatively about 3 hours to complete this assignment since I had to do some background research on my own on elevator pitches. I had watch the videos on moodle but wanted to extra resources as well. It then took my about 15 recording to get one that I somewhat liked and was comfortable with. I learned that it is important to talk slow and to be clear and concise with the way I talked. I found the biggest struggle was that this was extremely one-sided. If I was to give a real elevator pitch to a recruiter, then I would have some feedback from him as I
The purpose of writing this report is to show how much I have learned and experience from enrolling in BBA 220. It is also include the impression and my personal reflection about the unit itself, and also the reflection about group project. Before I start this unit, I do not understand much about entrepreneur and entrepreneurship at all. I just know that people who do business are businessmen. However, after joining this unit, my understanding toward entrepreneur become different. Entrepreneur is someone who is willing to take risk by inventing a new business that does not exist in the market or start up their own business to make profit or take benefit of an opportunity. On the other hand, according to Joseph Alois Schumpeter (1883-1950),
As I’ve outlined before, your pitch deck must tell a story – it must not be a list of figures and facts but an engaging journey down the path your startup is on – from the idea to the business.
Explain and critically analyze unique traits of an Entrepreneur, discuss these related to personal strengths and weaknesses
Working towards a pitch and a business plans the most effective way to master many of the critical skills and concepts of entrepreneurship since it simulates, to a degree, real business challenges. Hence, this course will not only help me to merge my previous studies with my passion of inheriting new skills but will also open many doors for my bright future when I will be back to India after completion of my studies. Moreover, as per the course structure will provide me with the golden opportunities for my
This school sees strategy formation as a visionary process and is fell under the descriptive school of strategic management. The chief architect of the strategy is the CEO of a company. This school took formal leadership seriously and CEO is responsible for strategy formulation. It stressed on mental state and processes such as instinctive knowledge, belief, wisdom, experience and insight of a single leader. The leader should be visionary in formulating strategy. The entrepreneurial school promotes strategy as a process which has a clear image and sense of direction which can be termed as a vision. Entrepreneurial strategy often occurs in startup companies and organizations in trouble and needing a
Introducing your business to potential investors is one of the most daunting tasks you must do. But if you prepare well and learn the secrets of the pitch, you don’t need to worry about failing. Not all the investor you pitch to will be interested in your business, but this isn’t always down to you failing the pitch.
So, you’ve broken the ice and given the investor a killer elevator pitch on your business idea.
organizations. Therefore, sorting out one example of success in each field for this short essay,