Day 13

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Review

 

What was the name of the woman from yesterday?

What country is she from?

Complete this word ( M O T I _ A T _ O N )

Business Model

What is a business model?

A business model is a view into the structure and strategy of a business. 

You can organize the information of your business model on a presentation software like Google Slides or Microsoft PowerPoint.

Why do you think it is beneficial to create a business model?

A business model is a view into the inside of your business. It is designed so that you, the entrepreneur, can easily pitch your business information to others (e.g. investors).

Pitching

What are good pitching techniques?

– Stand up straight.

– Eyes forward.
– Don’t mumble, but project your voice.
– Smile and be enthusiastic.
– Don’t pace, but gradually walk to each side of the audience.
– Encourage questions at the end.

Response

 

Why is it beneficial to create a business model?

What are good pitching techniques?

Build Instructions

You are now ready to develop your first business model. 

You will be using Google Slides. Have your parent or teacher create your Google account. 

On the next slide, you will see a template that you should reference while developing your own business model. 

You have two classes to work on your business model and practice your pitch. 

Your pitch must be less than four minutes. 

On the final days of the program, you will be pitching your business model to the front of the class. 

Motivation: 

  • Subscribe to an entrepreneurship podcast. 
  • Watch a motivational YouTube video every day. 

Business Name: Launch Group

Logo:

Profit:

  • How much profit do you want to make each time you sell your product or service?

$75 (desired profit per product or service)

  • How much profit would you like to make from your business each year?

$75,000 (desired yearly profit)

  • How many products or services do you need to sell each year to make your yearly profit?

(desired yearly profit) / (desired profit per product or service) = 1,000 (# sold per year)

  • How many products or services do you need to sell each month to make your yearly profit?

(# sold per year) / 12 (months in a year) =  83.3 (# sold per month)

  • How many products or services do you need to sell each week to make your yearly profit?

(# sold per year) / 52 (weeks in a year)= 20.75 (# sold per week)

Price: 

  • $200.00 for 2 / 1 hr mentoring sessions a month. 
  • $350.00 for 4 / 1 hr mentoring sessions a month
  • $400.00 for 6 / 1 hr mentoring sessions a month.

Pricing Strategy:

  • Receive $100.00 if you refer a friend and they sign up.

Costs:

  • 13 inch MacBook Pro – $1,299.00
  • iPhone 14 Pro – $999.00 
  • T-Mobile Magenta Plan – $70.00/month
  • Nissan Leaf Lease – $425.00/month
  • Car Insurance – $99.00/month
  • Electric Charging – $40.00/month
  • Office Supplies (ex. notebook) – $15.00/month
  • Business Cards – $9.99
  • Social Media Advertising – $100.00/month

Marketing:

  • Direct messaging and paid advertisements  on social media platforms.
  • Attend Meetup entrepreneurship events and hand out business cards.

Target Market: 

  • Age: Young Adults, Adults
  • Location: Orange County, California
  • Interests: Entrepreneurship; Technology; Innovation; Stock Market
  • Lifestyle: Ambitious individuals who have a busy schedule which revolves around activities/tasks for their business. They take limited vacation time and frequently attend networking events.

Industry: Mentorship

Product / Service: Service

Values: In-Person, Flexibility

Description: My business idea is to provide mentoring to startups.

Day 13 Homework 

(Complete your homework assignment on paper)

Continue to work on your business model and practice your pitch.