|Subject||Business and Economics|
Elevator Pitch, Expert/Entrepreneur Interview and Write-Up (75 pts)
Elevator Pitch: For your individual elevator pitch you will select one idea from your notebook. The idea you choose should meet these criteria:
It must be meaningful to you, meet some need or desire in society, and have growth potential
Ideas not acceptable include:
Any product or service that is illegal or considered highly deviant
Restaurants and micro-breweries (may be accepted but require a visit during office hours to discuss)
Expert/Entrepreneur Interview: As part of this process, you will need to conduct an Expert/Entrepreneur Interview in advance of doing your elevator pitch. The purpose behind this interview is to allow you to find out more about your business idea. You may choose an entrepreneur already working in this field or an expert in your technology or sector. There are many people to consider for your idea. For example, if your idea is to develop a new type of crutches, then you might want to interview someone from a medical devices company, a physical therapist, a medical device retailer, an entrepreneur who has brought a product to market, someone who has patented an idea…. Additionally, this assignment allows you to network with an “expert” or an “entrepreneur” which may help in your future job search, internship, etc. Ideally, the interview should take place in person, but if there are circumstances (e.g. interviewee is not in the area) then Skype will be allowed. I anticipate the interview to last 30-60 minutes. You must provide evidence of your interview. This could be a photo (that includes yourself) during the interview, a business card, or an email that verifies that the interview took place. Important: Call prospective individuals early. Most will be willing to meet, but have very busy schedules. Note: The Expert/Entrepreneur that you select must not be a relative or points will be deducted as this interview is to receive unbiased opinions of your ideas.
Write-Up: Finally, you will need to submit a 2-3 page paper. This paper will explain your business concept, discuss the interview, and finally contain the content that you intend to communicate during your elevator pitch.
After the interview, you will develop a 2-3 page typewritten paper in Microsoft Word which will be uploaded into Canvas that includes the following:
Explain your business concept (summarize in one paragraph)
You should refer to your idea in very general terms, rather than use the interview time to describe your idea because your ideas are still very, very early. You might begin the conversation by saying something such as “I am in an entrepreneurship course and I am considering developing a product for use by individuals who have a leg injury—some type of crutch maybe. The idea is not yet well-developed and I am hoping to be able to visit with an expert in this area….”
Within a week of conducting the interview, you should send a handwritten thank-you with a promise that you will follow up with your paper. This gives you an opportunity to make several different contact points: 1) setting up the interview, 2) conducting the interview, and 3) written thank-you note. These contact points are ways in which to reinforce the relationship and create a strong impression. I encourage you to continue regular contact with this individual including connecting on LinkedIn and occasional face-to-face meetings in informal settings, such as over coffee.
1. Contact information, background details, evidence that the interview took place, and explanation for “why” you chose this individual and evidence of what you learned from the interview. (40 pts)
Excellent/Good Work (40-35) Average (34-28) Needs Improvement (27-0)
2. Overall quality of the paper including organization and inclusion of at least one direct quote, including proper grammar, spelling, etc. (15 pts)
Excellent/Good Work (15-13) Average (12-10) Needs Improvement (9-0)
3. Pitching the Opportunity – Speaking skills and appropriate use of time (Volume, clarity, grammar, enunciation, confidence and enthusiasm, no fillers or notes) making sure that key points of opportunity are delivered. (20 pts)
Excellent/Good Work (20-17) Average (16-14) Needs Improvement (13-0)