Today’s workshop was Dragon’s Den we were set the task of creating a business idea, plan and pitch- After planning our ideas we had to present them to the dragons! This workshop lasted the whole day and we were put in random groups of 6.
Step one- Pick an idea: Our group idea was for a business called EduPet, the basic concept was an educational roadshow pet shop that also re-homed exotic pets.
Step two- Present idea: We were asked to stand up and present our idea to the dragons, this was rather intimidating however we only had to speak for a minute each and had planned it all out so it went well.
Step three- Business model canvas: We were given an example business model canvas to help us structure our business plan, we found this pretty straight forward to follow.
Step four- Presentation/pitch: Each group made a 20 second pitch video, ours was based on a poster we made.
Step five- Question time: The dragons asked us questions about our idea including questions about costs and profits, we worked these out during the planning stage buy using average profits of similar start up businesses, we also looked into running cost.
We got the chance to watch other groups present their ideas which was helpful, one group made a great video pitch and really impressed the dragons with their creativity.
We were shown this pitch as inspiration for our own pitch. Credit: Mad Men
I don’t feel I would have been able to present a pitch alone so I’m grateful this was a team exercise and i found t useful to create a whole business plan and pitch idea in a day as this is something I have never done before.
Has this affected my future plans?
Yes, I feel more confident about my abilities to form a business idea, and I now know what to include in a business plan so I may even start up my own business in the future.