Submitted by: Amy Stills
School: The Academy at Virginia Randolph
Summary
Students in Business Management class have been learning how to sell not only their products but themselves and their ideas. In this lesson, developed off the ABC Show “Shark Tank”, students will work with a partner to develop a fictional product/company, create information about the product and company, develop a business and marketing plan, and present the product/company to a group of potential investors (Sharks). The students will present their information to the Sharks (faculty members) and be prepared to answer any questions the Sharks may have.
Their presentation should include their business plan, information about their product/company, how much capital they need, and what percentage of their company they are willing to sell to the Sharks for investing in their company. They will have to answer the questions the Sharks have about their product and their business plan. They will also have to weigh the Shark’s offer to determine whether part or all of the offer is acceptable to help their company grow. They may try to make a counter offer with the Sharks.
TIPC Ratings
Students were asked to use prior knowledge to create a business or product that they could market to the Sharks to enlist their financial support to help their business grow. Students were responsible for “brainstorming” ideas that they could build a product or business around. They discussed products that they like or would like to see out on the market. They discussed items that interested them and finally chose one type of product. They applied research methods to create and answer questions they devised to cover topics that they felt would provide the Sharks with information and uniquely demonstrate the strength of their product in today’s market. Students created a bibliography to cite their resources.
Students selected who they wanted to work with on this project. The students easily slipped into roles, sharing information and strategizing on a product, and how to develop a plan that would present their individualized product in such a manner that would encourage the Sharks to provide them with the financial backing. Students chose a presentation tool to present their information and offer to the Sharks.
Students had to think of a unique business or product that they could offer to the Sharks. They had to become experts on their product anticipating answers to questions about their product, production cost, and their financial needs for future growth. Students will use the information they gathered to create their presentation for the Sharks. After viewing the presentation, the Sharks questioned the product developers to learn more about their unique product. what made their product different, and what their financial needs were. The Sharks then made an offer, the product developers had to weigh their needs with the offer to decide to accept or reject the offer.
Students decided which digital presentation tool would be best to present the information about their business or product. The students had to select images that would represent their product and include information that was easy to view and understand. Students had to anticipate questions and information needs of the Sharks and include that information in their presentation. After making the presentation, the students reflected on their presentations to determine the quality and if there were better ways to present their information. This included font size and color, and animation.
