1. Take 5 minutes with your coaches to create a Product or Service Idea.
TEAM ACTIVITY
Take 5 minutes with your coaches to create a Product or Service Idea.
Every team member must participate.
Let teams know to not feel under pressure to come up with their final-great idea….this is to get them start thinking and communicating with each other.
UNDERSTAND THIS – The idea you come up with in these 5 Minutes PROBABLY WON’T be the idea on which you base your Business Plan.
YOU HAVE 5 MINUTES
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2. Now for your actual E Squared Project2
Now for your actual E Squared Project
Come up with an Idea (Product or Service)
Determine if there is a Market for your idea (Will a lot of people buy it?)
Stress the fact to the teams that when they finally present their completed business plan, they are trying to get individuals to give them money to go forward with their idea…..they need to show a significant profit.
What is the Price you will sell it for? (Remember….need to make a profit)
Will consumers pay that price?
AND……..
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3. 3
You have until 3:00 PM Friday, January 15th to submit, in writing, your final business idea!!!
Again… stress the fact that they need to show a significant profit.
The purpose of today’s presentation was to get you to realize that you cannot just pick an idea and go with it without careful consideration. There have been many neat/fun ideas that have been scrapped because they were not feasible to create at a price that the market would support.
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4. WARNINGS!! 4 Things your team needs to look out for…
One Person CANNOT do it all - All members must participate for your Team to be successful.
Divide responsibilities - When you come up with an idea, each member of the team should deal with one element we’ve talked about today.
Stress teamwork on this slide….all members have to contribute for their team to be successful.
YOU WILL DISAGREE It’s ok to disagree..don’t get discouraged when this happens….IT’S NORMAL!!!
Don’t get too attached to an idea if it isn’t financially viable!! If the facts prove it’s not viable….. MOVE ON QUICKLY!
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