Part A: Design Session Five: Designing Your Product.

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Presentation transcript:

Part A: Design Session Five: Designing Your Product

Objectives: Pitch to the VC in order to get the highest price possible per share of stock Design stylish friendship bracelets that are easy and inexpensive to make, but will sell for a high price

Vocabulary Design Withdrawal

Memo 5 Compete Memo 5 (S12) in Student Packet

Memo 5 Discussion Message: Making a pitch to the Venture Capitalist (VC) is your company’s first opportunity to raise the money ($BB) you will need to fund the design process. Your company will need approximately $15-20 BB for design expenses. List 5-10 great things about your company, employees or product that you think the Venture Capitalist should know before determining whether to invest in your company. If the VC chooses to invest, this information will also help him/her to decide how much money to offer you for your shares of stock. Be sure to describe your product idea and why your company is better than the others. 1. Strong leadership Creative design ideas Good teamwork Ideas for a good marketing campaign An understanding of the market 10. Sample answers:

Raising Capital – Pitching the Venture Capitalist (20 min.) Only the President and VP of Finance will make the pitch today The President and VP of Finance will visit the VC as their company name is called. Once the pitch has been made, the President of each company needs to record the financial (cash) transactions on their Company Ledger (S31).

Company Ledger Company Name ________________________ DateSession (1-13) Description($) Deposit (+) ($ )Withdrawal (-) BalanceEmployee Initials *Reconciled (check mark) *Place a check mark in this column once the transaction has been recorded and settled (reconciled) on the appropriate finance worksheet.

Designing Your Product (20 min.) What does design mean? – To draw your vision, create something artistically What are some products that have been designed? – Shoes, car, backpacks

What was the designer thinking when he/she created the product? – How does the product look? How does it function? Who will want to buy the product? What are the market trends. The purpose of design is to try out many different ideas.

General Store Price List (S13) The VP of Design of each company will be invited to visit the General Store and purchase a design packet (paper, markers, tape, and scissors) for $4 BB. Purchases made by each company should be recorded as a withdrawal on the Company Ledger (S31) by the VP of Finance. A withdrawal is defined as money taken out of an account.

To save money, designs should be drawn on paper first. Each employee should create their own design on paper. VP of Design should refer to How to Make Friendship Bracelets (C4) as they consider the style and weave pattern.

Show Me the Money (S14) Read and answer Show Me the Money, S14 in your Student Packet Be ready to share