Project Description
For the business project, we were tasked with making a product and pitching our idea to venture capitalists to get a loan to potentially start our business. We first had to come up with a product that we would want to pitch. My idea was a book stand that held open your book while you read and had an additional book light. We then had to figure out how to make our product and the cost to produce. To know who our consumers would be, we conducted surveys to 50 or more people, asking them the maximum amount they would pay for our product. With that information we were able to use mathematics to find our optimum price which is the price that will get you the most profit. After all of this was done, we prepared to pitch to our investors. We had to present our product and show why it was a good investment. We also had to write a proposal letter, asking for a loan to start up our business (see mine below).
I actually learned a lot for this project. I learned skills like organization, time management, how a business works and other things. I learned what an optimum price is, what loans and bonds are and how to calculate projected sales. I liked parts of this project but I felt stressed a lot. This project made me realize that I definitely do not want to start or own a business. But it was a fun experience. |
Slide Show of My Product, The Dino Light
Me Pitching to Investors
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Proposal Letter
Math and Data
Photo used under Creative Commons from matthias hämmerly