Hi everybody! This week we will finish up presenting our individual business plans. I look forward to hearing the rest of your presentations, and since those remaining have had an entire Spring Break to tweak/amend their presentations, you will obviously be held to a higher standard than those who have already presented.
When preparing your presentations, remember the 3 most important aspects of a business presentation (know your audience, know your content, separate yourself!). Be sure to appeal to your investors and don't hesitate to ask for the business! It would obviously help to have a specific amount of capital in mind, and be willing to negotiate.
For those of you observing/considering investing in the businesses, remember to complete the critique sheets during the presentation and jot down some important questions for each business owner. This will enhance the experience for all of you. Take ownership of your learning and you will grow beyond your imagination. Below is a screen shot of the critique sheets:
Enjoy your Spring Break! I can't wait to start back up when we return!
It’s finally here!All the hard work, research, brainstorming, writing, discussing,
analyzing, and preparing has been done.You are now ready for the all important presentation of your business
plan.
I realize you are all well aware that this week is our time
to make your presentation to your potential investors, but before you get out
there and give it your all, I would like to begin Monday’s class by showing
you some well-prepared business plan presentations to get you pumped up about
this assignment.
Check out this segment from Shark Tank Season 3 Episode 6:
Now, without taking any notes or thinking critically about
what each presenter did well or poorly, just take in the passion and confidence
each person exhibited.Understand that
all the hard work you’ve put in for the past 9 weeks has prepared you to do the
same for your presentation.You can do
it.It’s your time to shine.
Now, if you’re still a bit nervous (totally understandable),
just keep in mind the 3 main areas of focus for presenting in my class:
1.Know your audience: whether you wish to present
to a bank or panel of investors, understand what it is they are looking for in
a business plan.You will do well if you
have a great idea, an excellent opportunity for profit, or a strong model for
getting things done.Heck, if you show
someone that you have that “it factor,” you might just charm your way into
getting startup capital.
2.Know your content (product): make sure you’re
ready to address any questions about how you will succeed, why your business is
better than the rest, or why the market is ready for your business.Set yourself apart from the rest and show
your passion for your product.Maybe the
reason why you will do well is because your idea is off the charts.Perhaps YOU are the reason for this, or maybe
the world needs your idea and the startup capital is all you need.
3.Separate yourself: in any aspect of life, who
you are matters.We love to use the term
“differentiation” in education and business because it means something.Take this opportunity to separate yourself
from the competition, and you will succeed in getting your business off the
ground.Nobody wants to see a
cookie-cutter presentation.That’s just
plain boring.Think of what you are
going to do to get the audience’s attention, and you’ll get it done
This week’s clear target is simple: We can analyze and
critique a business plan presentation.While
presenting, cover al bases and do well at what you know best.While observing, take into consideration the
following:
1.What are 2 (or more) things the presenter did
well?
2.What are 2 (or more) things you would do differently
if you were presenting
3.Would you invest in this business? Why?
Have questions ready for each presenter while observing, and
act like an investor (or bank).Be ready
to challenge each individual, since it’s your money going into the business if
you like what you see.
Complete a critique sheet for each presenter and turn in
your completed package this Friday.Let’s
have a great week!
Well, everybody. We're going to try this again. I hope you enjoyed your week off and stayed safe and warm with the rough weather. This week, we will complete all tasks outlined in last week's blog entry.
Also, I want to thank everyone who worked diligently over the past week playing catch-up on missing work. I greatly appreciate your hard work and dedication to your studies. The effort you have shown is what will help you accomplish great things, be it in school, business, or any endeavor you choose!
Hi everybody!I’ve
held off on writing this week’s blog entry due to the threat of severe weather
coming our way.Something tells me we
may either have a delayed opening or no school tomorrow, but I’m going to break
this week’s plan into 5 days, which can be consolidated into 4 if needed.As the title of this post suggests, the end
of our project is near.This week will
be dedicated to completing the Executive Summary, arguably the most important
aspect of the business plan, organizing the plan, a simple task as long as you
follow the rubric, and creation of the electronic presentation that you will
use when presenting to your investors (side note: you do not need to make a
PowerPoint or Prezi if you wish to just use the document viewer or pitch your business
without visual aides, however I suggest you have something for your investors
to view when you present).Here’s the
week’s breakdown:
Monday and
Tuesday: Executive Summary
As stated earlier, the Executive Summary is arguably the
most important aspect of a business plan.Since it is the first section of your business plan, the executive
summary serves two purposes.Your
Executive Summary serves as your first impression on any potential investor,
since it’s the first thing they’ll read in your plan.What you say, how you say it, and how it is
presented can be a make or break for your venture.If an investor doesn’t like what he/she sees
in this section, chances are no further pages will be turned in your plan.Think about it.If you begin reading a book or an article
online and the first few pages/paragraphs don’t exactly catch your eye, will
you continue to read on?Likely
not.Similarly, if an investor has
numerous business plans on the table, will he/she really want to read through
an entire 20/30/40/50+ pages if the beginning doesn’t sound so hot?I doubt it.Additionally, your Executive summary will allow you to highlight facts
and statistics that will stand out in the rest of your plan.Essentially, it will serve as a sneak preview
for the reader.
First, read through this
article about how to write an executive summary and what to include.Take notes on the 7 elements of the executive
summary and jot down what you wish to include as you read.Next, read page 1 of this
live business plan for a bakery for an excellent model of a well-constructed
executive summary.Now, I understand
that reading these two links is likely to occupy an entire class period if you
put your mind to it.This means there is
no tolerance for talking during class.That’s how it goes if you’re going to get this work done.
Once you’ve finished your reading, it’s time to take what
you’ve learned and put it into writing.You’ll need to write a rough draft of at least 1 page and make
adjustments throughout the week.Remember, this section of the project is extremely important.I’d assume you may begin writing this at the
end of class on Monday (or Tuesday if we don’t come in tomorrow) or at the
beginning of class Tuesday (or Wednesday if weather keeps us home tomorrow).
Wednesday:
Proofread and Organize
Today you will read through your entire plan and correct any
“squiggly line errors” that appear in MS Word.You know, the red or green lines that appear below any spelling or
grammar errors that Word identifies for you.Isn’t technology great?Next,
you’ll put your business plan in the correct order, as outlined by the scoring
rubric (can be found in my Public_Faculty Folder).Take your time on this and dedicate yourself
to putting everything in order, as I will deduct points if your plan is not
organized properly.
Thursday and
Friday: Presentation Preparation
I have already dropped the 2012 VE business plan
presentation in my Public_Faculty folder.Please feel free to use this as a model for your presentation.The best aspects of this presentation are the
graphics, transitions, and animations.Think
about it.Would you really like to see a
wall of text on every slide in a presentation?Neither do investors!Make it
stand out.Sell yourself.Sell your business.And, most importantly, stand out.That’s the best way for you to make an impact
and turn your vision into a reality.It would
be too easy if we all had startup capital in our bank accounts.Fortunately for you, your plan will make that
a reality.
Let’s have a great week and finish our plans Viking Strong!
