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Course: BUSI 111
Small Business Management
Assignment
The art of the elevator pitch and the insights of two
entrepreneurs
The art of the elevator pitch and the insights of two
entrepreneurs
Learning objectives of the elevator pitch
Presentation 1
In this first presentation the speaker described the elevator pitch as a two minute presentation
or the same time it would take someone from the lobby to the investor’s office
...
It must also be related
to either a current event or trend that relates to the investors and grad their attention or simple
what new can you offer that can make money the must be done in thirty seconds
...
Presentation 3
This was a rather simplistic approach as compared to the other presentations
...
Andrews Welch – Band Wagon Tours
He began the presentation by giving a brief history of himself
...
He wanted to transform Trinidad and Tobago tourism
industry to be better that the world
...
He gave an example of
how he first realized attempt as an entrepreneur’s pros and cons at a very young age by selling
pop corn
...
He also mentioned that entrepreneurship is within the individual and most of it comes from
common sense and that people should utilize all their ideas regardless of how shallow it may
be , because all ideas :
Present opportunities to take – all you have to do are to find these opportunities
...
What makes you the entrepreneur different from another is being able to think outside the box
and creative to new things at all times
...
In closing his speech he said all entrepreneur must understand that they are not capable of
completing all task be themselves but must put aside your shame and pride and seek the
necessary assistance in running a business example hiring of accountants
...
Welch has the right approach of testing your determination and fight for
your dreams but bearing in mind of the type of business he operates which means taking
charge of people’s lives he has to evaluate his risks because if anything goes wrong his
business can be adversely affected for example the causality of group of hikers in Guanapo
...
Underestimating the risk especially a spiraling crime rate or
what medical aid available in a densely forested area or for that matter what contingency plan
are put together
...
Did he evaluate whether
these vendors were up to health standards or whether the clients were allergic to some sort of
food
...
But in my opinion the
business plan is a written guide of starting and running your business
...
Guest 2
Mr
...
He liked money and had a desire to succeed and due to this he set
His visions and goals high
Standards and stage for being successful
Priorities- focus only on those things that are of importance
In his view entrepreneurship is self discovered and lives inside of you
...
He found his niche while watching
television and saw that year books was popular in the United States and thought that by
introducing it to Trinidad and Tobago Schools it would be something new
...
The business failed and he got kicked out because of a
great substantial loss
...
Only this time the idea came from his uncle ,
got himself a visa and went up to the US Virgin island where his idea was bought
...
In Trinidad his idea
was good but it did not meet a need due to our culture
...
However in delivering his speech he only focused on capitalizing on obtaining quick money
and as an entrepreneur and from his past experience he should have realize that in order to
make money one must satisfy all of their objectives because fast money making only last a
short time
...
long time
Conclusion
These presentations and two entrepreneurs were very interesting it gave me a very practicable
experience that can relate and prove that not everything in theory applies but it all comes from
your own intuitiveness and determination
...
"Every pound is your prisoner"
...
A pitch
should be like a ladies' skirt: Long enough to cover the important subjects, short enough to keep it
interesting
...