Refer to the resources and instructions below to prepare for the first semester final exam which will consist of three parts: a 55 point “terms and concepts” multiple choice exam, a 20 point reverse engineering a Business Model Canvas activity, and a 25 point group pitch.
Final Exam Preparation
Team Elevator Pitch
On the day of the final exam, each group will present a 2-3 minute elevator pitch/abbreviated shareback. Grades will be determined based on the rubric linked below:
This lesson provides review, instruction and analysis to each team’s financial model.
Teams will update and optimize all their inputs to their financial model. This will include revenue assumptions and expense assumptions for the first year of launching their business. Teams will projects assumption growth rates for years 2-3.
Students will assess the outputs of the model determine the financial health of the business and build the story for why they are seeking investment.
Students will have an updated and realistic financial model to begin the valuation lesson.
Using our financial model, we have so far entered data in the Revenue Assumptions and COGS tabs. Using the information that you’ve gathered during MVP experimentation, update that data to better understand your “3 year Summary model” and “Simple Graphs” tabs.
The other half of the class will examine businesses that have “bootstrapped” their business to profitability and over a million dollars in revenue by completing each of the steps below in a short slide presentation.
Complete all requirements listed in parameters above. This includes collecting digital media (e.g., textual, graphical, audio, visual, and interactive elements) that enhances the understanding of why your company should be funded.
As a team, construct your informational brochure using the following Google Docs Template as a starting point:
Each team member should proof read the entire document while also allowing the mentor to review. Please make sure that the appropriate share settings are in place depending on which digital medium used
Submit your informational brochure to teacher (Due Friday – May 19).
A teacher and community leader work together to guide and conduct a successful pitch event. Pitch may include two events: academic pitch and public funding/competition pitch in a public forum. In class, pitches are performed and assessed as part of the student’s overall class grade. A student’s performance is assessed as a team member and as an individual. The teacher needs to schedule these team pitches and pace them with enough time for all teams to present and address questions from the volunteer Board of Directors. Allow 20 minutes for presentation and question and answer session.
Preparation for the public pitch event can be used to highlight student achievement and the school’s local INCubatoredu success. The second pitch can also provide an opportunity for top selected teams to compete for funding, or other reward. Recognition of all teams, a celebratory environment for all students, and an invitation to include the broader community are critical components of success.
Teacher/Community Leader Checklist of Activities
Finalize dates, schedules and communicate to all teams and mentors. Include notices to your school district/school’s administrators i.e., superintendent and communications/outreach.
Communicate to students, parents, mentors and BoD of these upcoming dates. Encourage parental support from home, encourage Mentor support in class and also pre pitch for practice, trouble shooting and support.
Finalize Rubric and Pitch assessment. Share with students.
Have students complete Peer Assessment if using as part of overall grading
Prepare materials and structure for BoD or advisory board to assess student performance.
Send BoD or advisory board the Board of Advisors Final Pitch Tips_2016-17.doc for guidance.
Prior to selection of teams to invite to the public Pitch, ask which teams want to/are willing to accept. Some students will have a strong desire to continue, some teams will not. The selection process may be made simpler by understanding who is “in it to win it.”
External Pitch Event for Broad Community and Possible Funding
Determine process and criteria for team selection and invitation.
Finalize date, venue and time of final Pitch event that will best fit with end of school activities (e.g. AP exams, proms, final exams) and allow for attendance. Best to communicate the date to students, their families, and volunteers at the beginning of the school year.
Ideally, schedule a few days plus a weekend between the two Pitch events. During the class periods, meet with each of the selected finalists. Discuss the numbers – investor due diligence may be needed to better understand the thinking and assumptions behind the numbers. Importantly, conduct a:
Reality check – for example, does the team actually need to purchase new computers or can they make do with their existing, personal computers.
Personal reality check – ask each student to assess their energy, time, and passion for starting a new business venture. Will it work with their schedule for the upcoming summer/school year? Will they make time for it?
Team reality check – does the team want to stay together?
If funding will be offered, share “terms sheet” concepts. Ask students to share the non-binding concepts with their parents. These can be referenced in the sample LLC legal document.
Engage school communications group and publicize date and event.
Leverage community leader’s network to invite outside investors as funding source.
You will use your Positioning Statement from Unit 3: Lesson 1 to help you with this process. If you’ve pivoted since that lesson, create a new positioning statement by clicking the image below before starting your Marketing Communications Grid.
Snapchat’s Sponsored Geofilters
In this lesson, we’re going to get really granular and design a sponsored geofilter for your company using Snapchat’s advertising platform. Currently, Snapchat is so new that its cost is disproportionately lower than its value.
Check out the links below to learn more about setting up a about Sponsored Geofilter on Snapchat:
Teams will work together to identify the key activities they need to complete in order to launch and measure their MVP experiment
Teams create an implementation plan that will guide their MVP testing plan in preparation for final pitch.
Teams demonstrate their organization by selecting and creating a planning tool of their choice.
What, Who, When
In order to determine what needs to be accomplished so that you can start gathering data and validating your hypotheses, brainstorm a list of everything that needs to be done on a whiteboard or piece of paper.
Distribute those tasks amongst the members of your group and prioritize their completion.
Make a copy of the template below and chart the tasks you identified above to specific members of your team within a reasonable timeframe