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The 30 Second Pitch

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The 30 Second Pitch

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    1. What is my service, product, company, or cause? What problem do I solve (or what demand do I meet)? How am I different? Why should you care? The 30 Second Pitch/Hook

    2. Business Name (Logo) Entrepreneur’s Name Grade Age

    3. Mission Statement

    4. Business Profile Type of Business 10th Edition-Chapter 2/ 11th Edition Chapter 3 Service, Retail, Manufacturing, or Wholesale List unique features of your product/service Describe how you believe your product/service will satisfy consumer needs Legal Structure 10th Edition-Chapter 14/ 11th Edition-Chapter 3 Sole Proprietorship, Partnership, C Corporation, SubChapter-S, Limited Liability Company, or Not-for-Profit Corporation Why did you select this legal structure?

    5. Qualifications 10th Edition-Chapter 8/11th Edition-Chapter 1,6 Qualifications List 3 reasons why you are qualified to run this business ? ? ?

    8. Consumer Profile 10th Edition-Chapters 11,18/ 11th Edition-Chapter 7 By Location [The size of the area, density, and location of your customers. Where do your customers live, work, go to school, or shop?] By Population [The age, gender, occupation, and education of your customers.] By Personality [The general personality, lifestyle, sports, hobbies, and other free-time activities, music preferences, and so on.] By Behavior [Purchasing patterns and buying behavior such as rate of use, repetition of purchases, benefits sought, brand preferences, and loyalty characteristics of your customers.] By Income [Economic factors such as household income, family composition and size, and purchasing behavior (impulsive cash or cautious credit card purchases). ]

    9. Competitive Advantage 10th Edition-Chapter 8/ 11th Edition-Chapter 7

    10. Marketing Mix 10th Edition-Chapters 10,18/ 11th Edition-Chapter 8

    11. Marketing Plan 10th Edition-Chapters 10,19/ 11th Edition-Chapter 8

    12. Cost of Materials/Direct Labor (For Service and Manufacturing Businesses) 10th Edition-Chapters 2,9/11th Edition-Chapter 10 For Service and Manufacturing Businesses only. Definition of Unit: A quick description of the product or service being sold. Think of this as the minimum number and type of products students’ are willing to sell to a customer. For example, if a student plans to sell retail sunglasses, the minimum number they’ll be willing to sell will likely be 1 pair of sun glasses. Direct Labor/Unit: This calculation only includes time spent actually building a product or providing a service (On your mark…get set…GO…stop.). It doesn’t include indirect labor, such as time spent passing-out flyers, shopping for materials or sweeping office floors. Helping students arrive at a direct labor figure can be challenging. There are a number of ways they can look at it: 1. If I’ve never worked before and took a job, what might I be paid? 2. What do others, with my experience level, get paid for similar work? 3. If I had to hire another person to perform this labor for my business, what would I be willing to pay them given the level of quality and efficiency I expect? Materials/Unit: We should encourage students to shop for wholesale prices. These items should likely be purchased in bulk at better prices than retail shopping. There’s room here to enable judges to follow these calculations, which are the numbers behind the Economics of 1 Unit slide. Many students unnecessarily pay themselves more than once in the business plan. There are four main ways that students pay themselves: Direct Labor: This is an hourly wage based on the standard pay for the industry in which the student is working. Try to get students to think beyond minimum wage by looking at online resources such as salary.com or craigslist.com to get comparable rates of pay. Steer students towards paying more than minimum wage for skilled or semi-skilled labor (braiding hair, lawn care, computer repair, etc.) Entrepreneurial Stipend: This can be found on the Fixed Costs slide and is similar to a salary students may pay themselves on a monthly basis. Comission: This is on the EOU slide and is a variable cost that fluctuates based on the number of units sold. Salary: This can also be found on the Fixed Cost slide % of profit: There is no slot on the template for students to indicate they are taking a percentage of profit but students could mention it when they present the income statement. Whenever students enter any of the above information on the template, have them write it in green to keep track of payments. Then, students must double check their plan to make sure they are not paying themselves more than once. ACTIVITIES: Bic pen activity (disassembled in bag – make teams of students assemble them) Fieldtrip to manufacturing or service business ZipBin Case Study Book store owner case study to be written (may be oppty recognition) Activity for identifying variable costs (vs. direct labor and materials) – packaging, commission, Variable and fixed cost bingo activity *Try to keep a ‘math journal’ with your students: Spend first 5-10 mins of class each day doing math calculations based on business financials. For Service and Manufacturing Businesses only. Definition of Unit: A quick description of the product or service being sold. Think of this as the minimum number and type of products students’ are willing to sell to a customer. For example, if a student plans to sell retail sunglasses, the minimum number they’ll be willing to sell will likely be 1 pair of sun glasses. Direct Labor/Unit: This calculation only includes time spent actually building a product or providing a service (On your mark…get set…GO…stop.). It doesn’t include indirect labor, such as time spent passing-out flyers, shopping for materials or sweeping office floors. Helping students arrive at a direct labor figure can be challenging. There are a number of ways they can look at it: 1. If I’ve never worked before and took a job, what might I be paid? 2. What do others, with my experience level, get paid for similar work? 3. If I had to hire another person to perform this labor for my business, what would I be willing to pay them given the level of quality and efficiency I expect? Materials/Unit: We should encourage students to shop for wholesale prices. These items should likely be purchased in bulk at better prices than retail shopping. There’s room here to enable judges to follow these calculations, which are the numbers behind the Economics of 1 Unit slide. Many students unnecessarily pay themselves more than once in the business plan. There are four main ways that students pay themselves: Direct Labor: This is an hourly wage based on the standard pay for the industry in which the student is working. Try to get students to think beyond minimum wage by looking at online resources such as salary.com or craigslist.com to get comparable rates of pay. Steer students towards paying more than minimum wage for skilled or semi-skilled labor (braiding hair, lawn care, computer repair, etc.) Entrepreneurial Stipend: This can be found on the Fixed Costs slide and is similar to a salary students may pay themselves on a monthly basis. Comission: This is on the EOU slide and is a variable cost that fluctuates based on the number of units sold. Salary: This can also be found on the Fixed Cost slide % of profit: There is no slot on the template for students to indicate they are taking a percentage of profit but students could mention it when they present the income statement. Whenever students enter any of the above information on the template, have them write it in green to keep track of payments. Then, students must double check their plan to make sure they are not paying themselves more than once. ACTIVITIES: Bic pen activity (disassembled in bag – make teams of students assemble them) Fieldtrip to manufacturing or service business ZipBin Case Study Book store owner case study to be written (may be oppty recognition) Activity for identifying variable costs (vs. direct labor and materials) – packaging, commission, Variable and fixed cost bingo activity *Try to keep a ‘math journal’ with your students: Spend first 5-10 mins of class each day doing math calculations based on business financials.

    13. Economics of 1 Unit (For Service and Manufacturing Businesses) 10th Edition-Chapter 9/ 11th Edition-Chapter 10

    14. Average Monthly Fixed Costs 10th Edition-Chapter 9/11th Edition-Chapter 10

    15. Time Management Plan 11th Edition: P. 102

    16. Monthly Sales Projections 10th Edition-Chapter 13/11th Edition-Chapter 9

    17. Projected Yearly Income Statement 10th Edition-Chapter 13/11th Edition-Chapter 11

    19. Return 10th Edition-Chapters 3 and 14/11th Edition-Chapter 12

    20. Financing Strategy for Total Start-up Investment 10th Edition-Chapter 14/11th Edition-Chapter 13

    21. Business Responsibility Plan Philanthropic Strategy Plan 10th Edition-Chapters 10 and 38/11th Edition-Chapter 5 Describe how your business will give back to the community or support a cause in which you believe. Explain how you will incorporate business responsibility into your marketing plan.

    22. Business & Educational Goals 10th Edition-Chapters 3 and 50/11th Edition-Chapters 21 and 22; p. 132

    23. [Enter your slogan ]

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