ENT60006: Opportunity Discovery
ENT60006: Opportunity Discovery
Assignment 1A: Elevator pitch summary
Word/time limit: 500 words (+/- 10%)
Project managers, business people, filmmakers and policy makers frequently rehearse and deploy elevator pitches to get key points about a venture or innovation across succinctly. An 'elevator pitch' involves a scenario in which a serendipitous meeting occurs with someone influential to your career or business during an elevator ride. The idea is that if the conversation inside the one minute elevator ride is both engaging and persuasive, it will then continue after the elevator ride is overor will end in an exchange of business cards or the booking of a meeting.
While it's usual in the real world for an elevator pitch to be presented live, this assignment simulates the experience by getting you to present your pitch in the form of a 500-word written piece.
Assignment detailsThis assignment task requires you to create a written presentation of an elevator pitch of your business idea. Your pitch needs to introduce your idea, without closing the idea's deal. The key to a successful elevator pitch is to interest your audience and to not overwhelm them.
Idea:
EcoRide: Sustainable Urban Mobility Solutions
Urban Congestion and Pollution: Cities worldwide are grappling with increasing traffic congestion and environmental pollution caused by conventional transportation methods, such as cars and traditional ride-sharing services.
The elevator pitch should include the following five elements:
The problem or gap that you have identified in the market.
Who you are (in relation to addressing this problem or gap).
Your solution to this problem or gap.
How you are different from the competition.
How your business idea will make money.
YOU NEED TO HAVE the five elements present, WITH quality and correctly.
Your elevator pitch should:
introduce your idea, but not to close the dealthe key to a successful elevator pitch is to interest your audience, not to overwhelm them
draw potential listeners into a conversation that can be continued after the elevator ride, or at a later date to be arranged
establish your credibility professionallylocally and globallyso that you come across as more than simply an 'ideas person', but as someone who can kick goals
establish your prowess in business by showing pride in your current achievements as a salesperson, entrepreneur or innovator.
READ THIS
Q. Who should I aim the pitch at?A. You should be pitching at an investor with the aim to make them so interested in yourconcepts potential they are keen not to miss out on investing in your idea.
Q. What are some good resources for pitches?A. Please see the following resources: Delivering an Authentic Elevator Pitch (LinkedIn 2020) How To Prepare The Perfect Elevator Pitch (Cremades 2018) Your Module 1 learning on 1.7 Examples of entrepreneurship and how not to pitchhas a podcast on how not to pitch a billionaire which you are encouraged to revisitwhen preparing for this assignment
Q. What are some good podcasts for startups?A. For 20 of the best start up podcasts check out this website, Top 20 Podcasts for StartupFounders in 2021 (Salesflare 2021).
Q. Should my pitch be in paragraphs or use the questions as headings?A. Ideally in paragraphs just like you would in a real business pitch, and ensure you havecovered each element to ensure full marks.
Q. Can you please guide me in the right direction on how to constructthe assignment?A. You will need to introduce your idea and gain the interest of the reader of your report.Remember, as you only have 500 words to use, to focus on addressing the assignmentrequirements and criteria. Please include a cover page containing: unit name (e.g. ENT60006) assignment number your name and student number the number of words you have used.
Q. If we include information from an external source in our pitch, do weneed to reference this?A. Yes, any work that is not your own should be referenced.
Q. What if my idea turns out not to be feasible/viable?A. This is not an issue as what we are interested in is your ability to apply the process. It ispossible to achieve a high distinction (HD) for an idea that is not viable.
Q. Can you explain the assignment element who you are in relation tothe problem/opportunity?A. The element who you are requires you to simply provide context to establish yourexpertise in relation to the issue. For example: Think about what makes you passionate about this opportunity. How does it impact you/others? Does your work experience give you specific insights? What makes you uniquely qualified to solve the issue?
Q. Can we write this assignment in the first person?A. Assignment 1A can be written in the first person. Assignments 1B & 1C must be writtenin the third person.
