Project Title: Midterm Project (due by the end of Week 5)
Develop a venture idea that you can use as a basis for formulating a complete business plan and investor pitch in the Final Project, due Week 8.
- Idea Generation: Take the ideas you developed in Week 3, and summarize the key elements using the Level 1 and 2 assessments of the search model in Figure 1.2 (page 3) of the text. Conduct a preliminary screen of your ideas, answering the questions posed in Level 3 at the bottom of page 4 (3–4 pages).
- Screen: Using the results from Item 1 above, take your ideas and apply the Level 1 screen and complete the Level 2 screen (page 44) and new venture template (innovation, value, persistence, scalability, appropriation, flexibility, and execution) (pages 47–48). After reviewing the results, select an idea to move forward with (3–4 pages).
- Business Planning and Preparation Prework: Using the model on page 112 of the text, develop for your new venture a document that addresses Level 1 and Level 2 up through and including Level 2, Stage 1. Be sure to use the harvest model—output, input, and process; the communications and credibility checklist for entrepreneurial business plans, Table 3.1 on page 107; and Figure 3.2 as your guide in developing your answers (3–4 pages).