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CTE SHARKTANK

CTE SHARKTANK. CTE Intro Business Rotation Weston Broadbent. The Idea. Divide into Groups Make a list of Problems they see / hear What are some things you know a lot about? Something bug you? Something people complain about often?

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CTE SHARKTANK

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  1. CTE SHARKTANK CTE Intro Business Rotation Weston Broadbent

  2. The Idea • Divide into Groups • Make a list of Problems they see / hear • What are some things you know a lot about? • Something bug you? • Something people complain about often? • Now what are some Opportunities? Come up with a product (good or service) that would solve one of these issues.

  3. The Research • Figure out if people actually want your Product. • Write down your target market (age, gender, etc) • Come up with 3-4 options and survey 30 people. • Put surveys into Excel and graph results (found on my website in Sharktank)

  4. The Brand(Name, Logo, Slogan, Jingle) • Each group to come up with a Name (example: Nike) • Each group to come up with a Logo • (Symbol – example: Swoosh) • Each group to come up with a Slogan • (Catchy phrase – example: Just Do It) • Jingle is optional

  5. The Numbers • Write down expected costs to start your business (Research, Building, Set up) • Write down expected Income / Expenses (Price) (use the template on the website) • To better understand start up costs v. expenses see next slide.

  6. EXPENSES START UP COSTS • Parts and Materials to make the product • Labor • Marketing • Technology of the Product • Machines to build the product • Building / Property • Office Set up (computers, printer, etc) • Patent

  7. The Presentation • Put together a presentation (you can do a Movie, PowerPoint, Prezi, etc.) • Requirements: • Discuss the Productand how it solves a need • Discuss the Price(including the research and profit) • Include where/ how you will sell (Place– Online? In Walmart? From a stand? Door to Door?) • Persuade us this will be a success (Promotion) • Have presentation be around 1 1/2 minutes.

  8. In the Tank: • During Presentations a few things to keep in mind: • Presenters will have 2 minutes to present their product. During which time sharks will listen. • At the end of the presentation each shark will ask a question about the product (how it works, the costs, etc)

  9. TO TURN IN:(email to weston.broadbent@wasatch.edu) • Survey / Chart (Excel) • Logo / Slogan • Costs / Income and Expenses (Excel) • Presentation (PowerPoint, Prezi, Movie, etc) • Included in this: Product(with an explanation of how great it is), Price (how much you will sell it for, what it costs you to make, and the profit, Place (where / how you will sell it, and Promotion (persuasion of what it is going to be successful).

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