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? • Now what are some Opportunities? Come up with a product (good or service) that would solve one of these issues.

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)

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

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.

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

The Presentation • Put together a presentation (you can do a Movie, Power. Point, Prezi, etc. ) • Requirements: – Discuss the Product and 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.

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)

TO TURN IN: (email to weston. broadbent@wasatch. edu) • • Survey / Chart (Excel) Logo / Slogan Costs / Income and Expenses (Excel) Presentation (Power. Point, 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).