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      Shark Tank Project – Entrepreneurship
      ROP Entrepreneurial Economics
                   th (Absolutely NO LATE papers will be Accepted for Full Credit)
       DUE: May 29                                          
      Presentations on Day of Final- This is your Final
      Task
      You will be creating a product and a business proposal as if you
      were planning to pitch your idea to the entrepreneurs on the TV
      show, Shark Tank. There will be a Shark Tank presentation in the
      classroom to a panel of your peers (Visual Aides needed for
      presentation).
      As you create your project, think about episodes of Shark Tank. We will watch some in class. 
      What products did the sharks invest in? 
      Why? 
      What products did the sharks reject?
      Procedures and Requirements
           You may work individually, or in pairs (no more than 2).
           All groups members must contribute, participate and speak during the presentation.
           Review the SCAMPERing Chart for ideas and links to help you choose a product or service
           Complete the SWOT for your idea
           Create a unique product idea (good, service, non-profit, etc.)
           Develop a business plan and create an Executive Summary/Marketing Plan that addresses the
            following:
           1-2 Minute Elevator Pitch. All group members should dress up on their presentation day in 
            proper business attire.
      Scores:
      SWOT Worksheet          5 points
      Cover page              5 points
      Table of Contents       5 points
      Executive Summary     20 points
      Product               10 points
      Mock-up/Prototype     10 points Extra Credit
      Market                15 points
      Finances              15 points
      Presentation          25 points
      Sharks Scores         5 points Extra Credit
      Above and Beyond      5 points Extra Credit
      Total                 100 points/ 20 points extra credit possible
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                                        SCAMPERing Example
           Business/Product ideas  Questions and Clues          Examples
           can come from:
           Substitute              What else instead?           Boxer shorts for outerwear
                                   What other ingredients?      Sugarless gum
                                   What other…?
           Combine                 Blend purposes and ideas     Brunch, cran-apple juice
           Adapt                   What other ideas does this   French fries for the microwave
                                   suggest?                     Book of the month club
                                   What could I copy?
           Modify, magnify,        Try a new twist:             Double-stuff Oreos
                                   Change____                   Mini Oreos
           minimize                Add_______                   Multi-colored Chocolate Chips
                                   Improve________              Low-salt foods
                                   Exaggerate_______
                                   Reduce__________
           Put to other uses       What other use?              Avon’s Skin-so-Soft as a bug repellent
                                   What other Markets?          Old Tires into doormats or mulch
           Eliminate               Subtract___                  Sugar-free, fat-free foods
                                   Streamline_____              Seedless melon
                                                                Donut (elimination of the pastry’s 
                                                                uncooked center)
           Reverse                 Interchange                  Bunk bed
                                   Turn it backwards            Sectional couch
                                   Turn it upside down          Modular storage
                                   Try opposites                Yogurt with fruit on top
                                                                Upside-down cake
       Helpful Links:
       4 Steps to Brainstorming a Great New Business Idea
       Shark Tank
       Elevator Pitches
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     SWOT (5 Points)
     (Rough Draft) Analysis Chart for Shark Tank Business Project:  The SWOT analysis is an extremely
     useful tool for understanding and decision-making for all sorts of situations in business and organizations.
     SWOT is an acronym for Strengths, Weaknesses, Opportunities, and Threats.
     The SWOT analysis headings provide a good framework for reviewing strategy, position and direction of a company or
     business proposition, or any other idea. Completing a SWOT analysis is very simple, works well as a brainstorming tool.
     Use SWOT analysis for business planning, strategic planning, competitor evaluation, marketing, business and product
     development and research reports.(Can be done several times for this project.)
     Business/Product/Service Name:  ______________________________________________________________
     Company Mission Statement: 
     _____________________________________________________________________________________________
     _____________________________________________________________________________________________
     _______________________________________________________________________________________________
                    Directions:  Include AT LEAST FIVE bulleted points for each section
                                                 Weaknesses
                   Strengths
                 Opportunities                      Threats
     Goal: 
     _______________________________________________________________________________
     Steps to achieve goal (list three): 
          _______________________________________________________
          _______________________________________________________
          _______________________________________________________
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                                                                 BUILDING THE BUSINESS PLAN
            THE BUSINESS PLAN
                I.       Create  cover page that has your company’s logo, business partner’s names, date, class
                        period (5 Points)
               II.       Table of Contents- properly number and referenced pages (5 Points) 
              III.       Summaries should be free of grammatical mistakes and typos.  Be sure to use  
                        spellcheck and PROOFREAD.  All Executive Summaries should be typed – one printed 
                        copy will be submitted for the idea.
              IV.        Executive Summary     (20 points)
                        Answers all posed questions
                        Presented in an easy to understand way/well-organized
                        Realistic figures ($)/well-researched
                  Include:
                  o DESCRIPTION OF THE BUSINESS: What does the Business do?
                  o  Name of firm : Business Name
                  o  Owners  (Anyone with an investment in the firm): Your names
                  o  Hours of Operation : What days of the week are you open? Hours? Holidays?
                  o  Location : Look online at commercial space www.Loopnet.com is a good place to start
                  o  Legal Forms : Licenses, Licenses and Permits, Training certifications, etc.
                  o  Business philosophy/purpose (Mission Statement) 
                              o Ex) McDonalds - "To provide the fast food customer food prepared in the same high-
                                    quality manner world-wide that is tasty, reasonably-priced & delivered consistently in a 
                                    low-key décor and friendly atmosphere." 
                              o Ex) Courtyard by Marriott - "To provide economy and quality minded travelers with a 
                                    premier, moderate priced lodging facility which is consistently perceived as clean, 
                                    comfortable, well-maintained, and attractive, staffed by friendly, attentive and efficient 
                                    people"
                  o  Where do you see your company in ten years? Twenty? 
                  o  Why should the sharks invest in your company? 
            MANAGEMENT:
            Identify the management and key personnel.
                  o  Name :
                  o  Title/Role :
            FACILITIES: www.Loopnet.com
                  o Describe your business location including the building, physical features, age, dimensions, parking, etc.
                  o Do you plan to lease or own the building?
                  o Why did you choose this location?
                  o What are the major items of equipment used in your business?
                  o What other businesses are in the area that may have an effect on your business?
                  o Are you close (in miles) to your customers?