Homework answers / question archive / PLEASE COMPLETE PART 1-2 and 3 PART 1: You are an entrepreneur pitching your million-dollar idea to the “Shark Tank”

PLEASE COMPLETE PART 1-2 and 3 PART 1: You are an entrepreneur pitching your million-dollar idea to the “Shark Tank”

Business

Share With

---

PLEASE COMPLETE PART 1-2 and 3

PART 1:

You are an entrepreneur pitching your million-dollar idea to the “Shark Tank”. The Sharks are investors that may invest in you and your new idea. Use this template to prepare a sales script that will function as a script or outline for your “Shark Tank” video presentation.

Approaching the Customer: This is where you will begin your written script for your “Shark Tank” pitch. You should include:

• Introduction
• Personal story
• Company story
• Find parallel to establish customer relationship Determining Needs:

Proving that there is a need for the market of this product (testimonials, questions, profit points, overall view of the market – soccer market, pet luxuries, handbag, etc.)

 

• Transition Statement: Summarize market needs and then introduce the product.

PART 2: Presenting the Product:

Demonstrate 5 features and 5 benefits of the product.

• Use sale aids
• Be creative
• The goal is to get the Sharks involved

 

Product Features	Product Benefits
1.	1.
2.	2.
3.	3.
4.	4.
5.	5.

PART 3: Objection Analysis:

Prepare an objection analysis sheet; include objections based on time, need, source, product, and price.

Potential Objection	Prepared response
Time:	Time:
Need:	Need:
Source:	Source:
Product:	Product:
Price:	Price:

 

Describe the close of the sale. Include potential future product ideas and a reassuring statement. The goal is to end the sales pitch positively to infuse confidence into potential investors.