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MATH: Shark Tank Week

Next Steps

After researching your widget, you will need to create a business proposal and marketing plan.  There are several ways you can approach this - figure out which works best for your project.  Questions you should be prepared to answer:

  • what's your marketing audience?  
  • how long did it take for similar products to become popular?
  • why your widget over what's out there now?
  • what are similar products, and how are they doing?
  • what are the basic costs for manufacturing, marketing, etc.?

Helpful Resources

Look for similar industries and where the parts they need are manufactured (in the US? overseas?) and then research those.  You may need to break your widget down into component parts and work from there.

Business Model Planner

Using this planner can help you as you go forward - have you done enough research?  can you fill in each of the blocks?