How do you develop the idea technology and passion necessary to get started?.
Your product /service: How do you design and build your product or service? How do
you develop the idea, technology and passion necessary to get started? Think about
your impact and contribution you want to make if this business is successful.
4. Market analysis: What about the competition in the market? How do you differentiate
your business in this market?
5. Marketing plan: Who are your customers? (A profile of your targeted customer) How
do your customers access/reach your product or service? What is the process
for acquiring a targeted customer?
6. Financial/operational plan: What metrics need to be put into place to determine if
your product/service is successful (or not) early in the process? How do you make
money? How do you scale to widen and diversify the revenue stream?
7. Creative advertisement/poster: Create an A4 poster for your business; which will be
your advertisement.
o The applicable word limit for the written part of this assignment is 1500 words. Please
feel free to use tables, figures, and visuals as these do not count towards the word
count.
o Please note that the seven points above are intended to help you structure and write
your business idea; but you do not have to strictly follow this structure or answer all the
questions above. It is your business idea, you are the owner and the entrepreneur and it
is up to you how to narrate or present it.
Indicative Notes:
1) At the heart of this assignment is independent thinking and creativity. We want you to
take ownership of your ideas and express them passionately and eloquently.
Structure is less important. How you visualize and represent your ideas in an
engaging and interesting way is more important. Think of it as an exercise in
imagination. We encourage you to play, create stories, dream of possibilities, and
incorporate your own strengths and passions.
2) There is not one best way to write up this assignment. There is not one right answer.
You will need to find and develop your own ‘right answer. It is your playground and
you are encouraged to play/experiment with crazy, risky, creative, imaginative
business ideas. You will need to find your own voice and incorporate that voice into
your pitch.
3) This assignment does not require you to write an advanced business plan with all its
functional, operational, and financial details. In this sense, do not think of this
assignment as a traditional business plan. It is more like an elevator pitch for your
business idea. As we live in a world of information overload, people do not want to
read very long business plans or business reports. Try to make it compelling, visual,
and creative. Make it interesting to capture attention.
4) Try to illustrate the basics of how you would pitch and initiate your business idea. We
do not want you to delve into all the details of your market analysis report or your
marketing communications strategies or your projected financial statements for the
next five years. Please remember that this module focuses on the big picture, rather
than the managerial functions. We want you to conceptualize, design, and integrate
your business ideas into an exciting business proposal.
5) Demonstrating evidence of your module learning and engagement with module
materials is a critical aspect of this assignment. Therefore, the appendices are very
important. You will need to incorporate and apply the toolkits/models/skills we have
discussed and learned during the lectures and seminars. Please incorporate these in
the form of tables, figures, and visuals. Feel free to apply multiple perspectives,
frameworks or toolkits that are relevant (such as business model canvas, design
thinking tools, benchmarking, six hats thinking).
How do you develop the idea technology and passion necessary to get started?
