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AOF Entrepreneurship

Lesson 4 Establishing Your Market

Student Resources

Resource Description

Student Resource 4.1 Organizer: Customer Profile

Student Resource 4.2 Reading: Market Research Methods

Student Resource 4.3 Organizer: Market Research Methods

Student Resource 4.4 Independent Practice: Market Research Study

Student Resource 4.5 Instructions: Designing Market Research Surveys

Student Resource 4.6 Template: Culminating Project Presentation

Copyright © 20092015 NAF. All rights reserved.

AOF EntrepreneurshipLesson 4 Establishing Your Market

Student Resource 4.1

Organizer: Customer ProfileStudent Names:_______________________________________________________ Date:___________

Directions: The process of identifying different groups of customers is called market segmentation, and it can be done by grouping customers according to different characteristics. In the chart below, you’ll see the common characteristics that entrepreneurs and marketing professionals use to describe different customers (geographic, demographic, and psychographic).

Market segmentation is an important tool for entrepreneurs, because it helps them to understand what features to include in a product so that it appeals to a particular market, and also how to communicate with that market effectively. Segmentation can help keep costs down, too. This is critical during start-up, when funds are limited—not everyone can afford to advertise during the Super Bowl! Segmentation provides entrepreneurs with information about the people who might buy their products, making it possible to adapt the product to the market and to make information about the product available in the places the potential customers go.

In the organizer on the next page, try to predict facts about each market based on product features. Once you’ve determined a possible market, work with your team to think of ways to reach potential customers. The first example is completed for you.

ProductiPhone social networking application

Microwavable ice cream scoop

Lightweight garden weeder with long handle

Your product or service

Demographic: age, gender, occupation, income, education, ethnicity

Young all the way up to age 65, male or female, likely to be college educated, have a high income, no specific ethnicity

Geographic: region, urban/suburban/rural

Urban or suburban, must be in provider’s coverage area



Psychographic: lifestyle, hobbies and interests, sports, personality

Enjoys staying in touch with friends, tech savvy, loves digital devices, extroverted

Buying situation: desired features, purchase frequency, compare products?, price sensitive?

Product free from bugs, high quality, many accessories available that are still usable through a few upgrades, can keep the same phone for several years, high degree of customer loyalty




Reading: Market Research Methods

Developing a great idea is only the first step toward entrepreneurial success. Before sinking time and money into a product or service, entrepreneurs have to make sure there are people who will buy it. Furthermore, entrepreneurs must know as much about their potential buyers as possible. The way entrepreneurs get to know their market—the people who are likely to have a need for the new product—is through market research.

This presentation introduces methods for primary data collection for the purposes of market research, including observation, networking, interviews, focus groups, surveys and questionnaires.



Market researchers and entrepreneurs can conduct primary research in many different ways. Some methods are informal and involve casual discussions, while other methods require careful preparation and analysis.

The important goal of research is to understand the market, relevant trends, and customers’ desires and needs. Businesses are most likely to be successful when they have a clear understanding of their local market as well, including both their competitors and their customers.



One of the simplest ways to research customer groups and their buying behavior is just to watch them shop or use products. By watching how they interact with products, and what they actually purchase, entrepreneurs can learn what customers like and what they dislike.

Through observation, entrepreneurs can also identify any problems people have interacting with existing products or services. One example might be customers shopping for electronics such as phones, which sometimes have confusing buttons. If a customer has trouble figuring out how to use a product in the way it was intended, it may be designed poorly. An observant entrepreneur can exploit the opportunity that a competitor’s poorly designed product provides: the entrepreneur can identify a need in the market—a phone that’s easy to use—and get an idea of how to design a phone that’s intuitive, simply by watching consumers interact with a phone they’re considering buying.

Observation can also reveal the conditions in which people are likely to shop and buy. When entrepreneurs observe what customers do in the real world, such as at a shopping mall, they gain authentic information that sometimes is more valuable than just talking to people. Sometimes what people say they will do and what they actually do are different. For example, a customer might say he or she is interested in something but then not actually buy it, so watching how customers behave is important when making decisions about what really works.



Social skills are highly important to successful business. By talking with people and forming connections and friendships, entrepreneurs learn how people in their industry think and behave. Many entrepreneurs credit their success to their friends, colleagues, and even competitors who provided insight, advice, or critical information. This information can help businesses make good decisions about what direction to take with new products and services.

Professional networking is the process of talking with people and developing a network of contacts. These people can provide support, information, and guidance. Building trust with colleagues, competitors, and customers will make them want to work with you and buy from your business.

Networking is an informal way of performing market research, but it can be inexpensive and highly valuable. Sometimes it may be easier to collect information by talking with people casually, because they may be more likely to open up to someone that they trust—or they may be more likely to speak candidly in a casual chat than in a formal setting where they may not be as comfortable.



Market surveys are often the most popular ways of conducting research because they can be used to poll potential customers about many different topics, including their habits and what they’d like in a specific product. Surveys and interviews can be done by phone, by mail, in person, or online. Each method has its benefits and drawbacks. For example, some methods are easier and cheaper to do than others, and people may answer differently depending on the method.

In fact, a drawback of survey research is that people may say they like a product or may exhibit interest, but when the product is actually offered, they may be less interested. This isn’t because people are dishonest; they sometimes don’t know how they will feel ahead of time, or their thoughts may change given different circumstances. What people say they are going to do does not always reflect their behavior. This is why many entrepreneurs want to use other methods of research, like observation and networking, as well as formal survey research.

When surveys are complete, the information collected can be reviewed and analyzed in qualitative ways by looking at what people say and feel. They can also be analyzed quantitatively; that is, by identifying the most common concerns and priorities of customers. This helps give an entrepreneur a more detailed, targeted view of the customer’s thoughts about the products.



Focus groups gather between 8 and 12 potential customers into a small room, often a conference room. An experienced researcher leads the discussion and asks questions that address the information researchers want. They listen to how customers discuss a product or a service and learn how their thought process works. By listening to customers talk about a product, the researcher learns what customers already know about the product and hears what customers want in a potential product or service.

Since focus groups involve an informal discussion with customers, they should be conducted by someone other than the entrepreneur. This is because an entrepreneur may not be able to interact objectively with customers about his or her “big idea” or really listen to what they say. Entrepreneurs usually feel strongly about what they want or expect, so it’s useful to have someone objective and experienced lead a panel or focus-group discussion.

Focus groups can be an expensive way to conduct research, because they require identifying and inviting customers, securing space for the discussion, and paying impartial researchers to lead the talks. Often, they will also compensate the customers for their time and insight. Despite the costs and difficulty, they can be highly valuable for companies, providing in-depth insight into the customer’s perspective.



When a market researcher has finished talking with potential customers and learning their concerns, the next step is to try out different products or services. By introducing products and services, the businessperson can see how customers react to them and what they will actually buy.

For complicated products, an entrepreneur might first make a prototype of a product. A prototype is a first version, like a model or a demonstration of the final version. This can be used to show potential customers and investors what the entrepreneurs intend to produce. By asking customers what they think of the prototype, entrepreneurs can also gain valuable information and make changes to the product before it is mass produced. Then the final product will be improved before it is sold to customers.

The next stage of the product can be offered for sale, and entrepreneurs can track how successful it is. By adjusting product offerings over time, an entrepreneur will find out which are most successful.



Observing customers and networking can be done informally at low cost.

A survey is the most popular method for doing formal, targeted research, but it’s also more expensive to conduct.

Focus groups allow customers to talk about a product or service and bounce ideas off of each other, but that means that some customers may be influenced by others, and their buying patterns may differ from what they say in the group discussion.

Eventually, when an entrepreneur has gotten solid information in several ways, he or she will have to begin experimenting by developing a real product or service and trying to sell it.

Over time, with careful research and adjusting the products and services to match the customer’s needs and buying patterns, the entrepreneur can work toward success.




Organizer: Market Research MethodsStudent Name:_______________________________________________________ Date:___________

Directions: Use this chart to take notes as you look at the different presentation materials posted around the classroom.

Type of Research andBrief Description

Advantages Disadvantages




Independent Practice: Market Research Study Student Name:_______________________________________________________ Date:___________

Directions: The following market research study is a fictional story of a city’s attempt to earn revenue to support a local park by opening a business there. Market research studies like the following can often be many pages long and provide exhaustive details of findings. While you read this short example, think about what’s included in each written section, what the purpose of the study is, and what the research reveals. When you’re done, you’ll be asked to analyze how effective you think the study is.

AbstractThe city council conducted survey research to assess high school students’ interest in adding concession stands at Greenwood Park, which is across from the local high school and in need of funding to support new facilities and improvements. An average of 64% of respondents who already visit the park at least once a week expressed interest in purchasing food there. The city could earn a significant revenue increase by serving the students burritos and Chinese food, along with snacks, at a cost of $5–$7 per meal. The project could also offer side benefits such as reducing lunchtime traffic in the neighborhood and reducing tardiness from students who currently drive off campus to buy lunch.

BackgroundGreenwood Park is a 2,000-square-foot city park of trees, lawn, and a small children’s playground. The park is frequented by local residents on weekends and by Greenwood Park High School students on weekdays. Additional funding is required for continued landscaping maintenance and to install amenities such as a restroom facility and water fountains. The city council has submitted a proposal to open up the park to concession vendors to sell food and beverages to high school students during school lunch hours. By licensing new businesses to open food stands and earning commission off sales, the city hopes to earn additional revenue to support and fund park improvements.

Related ResearchThe city council learned from speaking with local residents that the park is often crowded with high school students during lunch hour, and that residents often bring their families and pets to the park on weekends. These families and students would be the beneficiaries of park improvements and also the customers of concession stands that may be added at the park.

Several cities in the region have seen revenue gains by leasing concession stands at local parks and by offering food and beverages to visitors. In addition, a correlation was found in some of these cities between the new concession stands and a decrease in crime rates in the immediate neighborhood.

MethodsThe city council commissioned a survey study of students at the local Greenwood Park High School in order to assess their interest in purchasing food and beverages from park vendors during lunch and after school. Overall, 96 students between the ages of 14 and 18 responded to surveys passed out in finance and economics classes.

The study polled basic demographic information, including age and ethnic background, and assessed the respondents’ use of park grounds and interest in meals at the park. Students were asked how frequently they visited the park during lunch for a duration of 15 minutes or longer, and whether or not they would purchase food from vendors at the park if it were available.



The study also asked where the students purchased lunches and what their satisfaction was with those options. Finally, students were polled about which foods they would be most interested in and how much they would be willing to spend on food, with the options of Chinese food, pizza, burritos, hot dogs, and snacks.

High school teachers distributed and collected the surveys, and the research organization commissioned by the city council assessed the findings by identifying the frequencies of answers and cross-tabulating the results.

ResultsSurvey research revealed that approximately 22% of the students visited the park at least three times a week, while 63% visited the park at least one or two times per week for a minimum of 15 minutes. An average of 49% from each group reported an interest in food vendors. Twenty percent of students who only rarely visit the park expressed interest in purchasing food there on occasion.

Rarely visit the park

1–2 park visits per week

3–5 park visits per week

Totals

Interested in food vendors

3 (20%) 37 (61.67%) 14 (66.67%) 54

No interest in food vendors

12 (80%) 23 (38.33%) 7 (33.33%) 42

Totals 15 (15.63%) 60 (62.50%) 21 (21.88%) 96 (100.00%)

Burritos and Chinese food were found to be the most popular meal options among high school students overall. The research revealed that local options for pizza are available in the neighborhood, and the cafeteria occasionally serves hot dogs or Chinese food. The pizza and hot dog options were least popular among students. Snack foods and beverages were also identified as a desired addition.

For a deeper understanding of which food options are most likely to sell, further research could be done by cross-tabulating the answers from students who expressed high interest in buying food at the park with the food options from the survey to see which food choices would be most preferred among the students who are most likely to buy.

The majority of students reported a budget of $5 to $7 for a lunch meal, while a few students also reported they were willing to pay more on occasion.

ConclusionThe research findings revealed a strong student interest in food and beverage options, with 63% of students who visit the park regularly saying they would buy from vendors. Additionally, 20% of students who rarely visit the park expressed interest in purchasing food on occasion. Based on these results, we conclude that selling food at the park is likely to be a successful venture.

Revenue could be generated by offering $5–$7 lunches, especially burritos, Chinese food, and other snacks.



Opening vendor kiosks may have an additional benefit of drawing students who normally would drive off campus for lunch. Being closer to campus would help reduce school delinquency and relieve local traffic conditions, as well as reduce the risk of vehicular incidents at lunchtime.

ReviewOnce you’ve read the research, answer the questions or respond to the statements below. Refer back to the study as much as you need to, to make sure your answers and responses are thorough and complete.

Identify and describe the purpose of each section of the study.

1.

2.

3.

4.

5.

6.

What problems are the researchers trying to solve?

What sort of hypotheses are the researchers starting with and designing their survey around?



How do researchers analyze and interpret the results of their research? What statistical tools help them understand the responses?

How does the survey help the researchers identify what actions to take about their problem?

Identify any bias in the study’s findings or conclusions, and explain.




Instructions: Designing Market Research SurveysStudent Name:_______________________________________________________ Date:___________

Directions: After collecting general information about an industry, an entrepreneur asks specific questions to learn more about the local market and customers. For your industry research project, you will identify a customer base for your business and then develop a market survey to learn more about customers. This worksheet will help you understand how to generate effective questions to learn the most about the people you interview. Make sure to read through the whole worksheet to understand the assignment and assessment criteria before you begin. Note that you will be assessed on your survey and interpretation of your results, as well as on your poster.

Once you and your partner(s) develop questions, you will each be responsible for conducting 10–15 interviews with people who match your profile of a potential customer. Together, your research team will generate a sample of 20–30 completed surveys to correlate and interpret. Using simple statistics tools, like a cross-tabulation chart comparing the data, you can measure and gain insight into your findings.

Once you discuss and analyze the findings with your project team, you will write up a one- or two-page report individually. As a group, you can later apply your findings in your culminating project presentation. Use your market research results to help explain what opportunities are available—or not available—for new entrepreneurs in the industry you’ve studied.

Follow the steps below to develop an effective market survey and perform your research.

Stage 1: Developing Research QuestionsWhat to Ask AboutResearchers identify what they need to learn about in order to develop effective survey questions. In the example research in Student Resource 4.4, the city council tried to find out whether students would buy food at a local park, and they tried to discover what types of food would be most successful.

First, they wanted to know whether it was a good idea to open food stands, so they started by investigating the other lunch options available for students and asking how frequently students already visited the park. Given that students didn’t have many other places to eat at lunch, the researchers learned that their new food stands would not face major competition. Then, since students were already visiting the park, they learned that setting up food stands would be convenient for students.

Next, the investigators identified which products to offer by asking what type of food students preferred and how much they would be willing to spend for a meal.

Market researchers try to gain a total understanding of the market by asking questions in their survey about the following topics:

The local competition (where people currently shop)

Customer behavior at the location of service

Customer preference in the product features and offerings

Customer preference in the price

The profile of the customer, such as demographic information



How to Form Effective QuestionsMake sure your questions are specific and targeted to the information you’re trying to learn. For instance, in the food stand survey, researchers gave students a list of options such as hot dogs and burritos to find out what they would buy for lunch, instead of asking them to write in what they liked best.

A general question might have gotten a wide range of ideas, some of which the businesses couldn’t easily prepare. So, providing a list helped researchers limit the options available in order to gather targeted and useful information. By limiting options, researchers were also able to compare the responses more easily, such as creating a chart that showed how many students preferred hot dogs to burritos or to other options.

Providing a list of options also makes it easier to gather impartial information instead of leading the respondent to a specific answer. For example, a researcher might ask whether people want a certain kind of store located near their workplace. This is an example of a leading question, because the respondent might say yes even if the individual would prefer the store near his or her home. A better question might provide options such as near the office, near a school, near home, or near a shopping center. Giving people options helps them think clearly about their lifestyle and preferences, and it gives researchers more accurate data.

A good research study goes in depth but also isn’t long enough to make people impatient. A page of questions is probably about the right length for your purposes, although some surveys can be much longer. How long a survey should be depends on the survey situation.

Stage 2: Doing the Research InterviewsSamplingMarket researchers might perform their survey interviews over the phone, via email, on a website, or in person at a local shopping center, library, or school. Market researchers try to figure out where the people who fit their potential customer profile are likely to be, and then meet them there.

The more people researchers interview, the more information they have about their customers and the more likely the conclusions they draw from the information are correct. It’s easiest to ask friends and family for their opinions, but then the sample might be biased toward a very specific group of people. Your results will be most accurate if you ask random people to take your survey.

For this assignment, collect a total of 20–30 samples, or survey results. Your group can divide the work among team members so that each person needs to interview only 10–15 people. You can then compile your data later.

Stage 3: Interpreting Data and Understanding the ResultsAnalyzing the DataDepending on the size of your data sample, you might wish to use one of two simple methods to compare different data points. The first method is to identify the frequency of responses, and the second, called cross-tabulation, compares one type of answer with another.

For example, say you are researching the logging industry and decide that you are interested in creating a business selling paper products. You ask survey respondents of different age groups which product they buy most frequently: fine stationery, day planners, or loose binder paper.

Your first step might be to go through the surveys, separate them by one category, and tally up how many people answered in each category.

A simple frequency chart:



Ages Responses

18–25 20

26–35 25

36–50 10

TOTAL 55

Your next step might be to compare which age group prefers what product. Take your surveys, already separated by category. Then tabulate (or tally) the responses according to the product:

Ages Stationery Day Planner Binder Paper Totals

18–25 1 4 15 20

26–35 3 17 5 25

36–50 5 4 1 10

Totals 9 25 21 55

Now you’re getting somewhere: you can tell which items are most popular for which age group. However, since you have a different total number of sample responses for each group, it’s hard to compare the numbers.

Market researchers make up for this by using the percentages in their results:

Ages Stationery Day Planner Binder Paper Totals

18–25 5% 20% 75% 20 (100%)

26–35 12% 68% 20% 25 (100%)

36–50 50% 40% 10% 10 (100%)

Totals 9 25 21 55

To calculate the percentages, divide the number for each section by the total in the horizontal row—for example, one out of the 20 total people in the 18–25 range bought stationery. Dividing 1 by 20 gives you 0.05, or 5%.



Now you can see that day planners are relatively popular across the age groups. The majority of binder paper is purchased by younger customers, and stationery is preferred by the oldest age group.

Be careful, and notice too that you would have to do a separate calculation to find out how much stationery is purchased by each age group. The information here shows that 5% of 18- to 25-year-olds bought stationery, but not that 5% of the stationery sales reported were made by 18- to 25-year-olds. (In fact, 12% were, or about 1/8).

A cross-tabulation chart like this one allows the researcher to dig deeper by finding the products most likely to succeed. For example, a researcher could further analyze the 75% of 18- to 25-year-olds who said they would buy binder paper to find out whether they prefer to buy online, in a store, or over the phone (assuming such a question was asked). Cross-tabulation therefore provides a greater understanding of how all the data fits together to help the researcher understand what the market wants and needs.

Presenting the FindingsWhen your research is completed, discuss and interpret the results with your project team. Using your findings, you will work together to create a poster that presents your findings. This information will be the foundation for the section on your customers in your culminating project business plan and presentation.

Before you begin your poster, you may want to review the example market research survey from Student Resource 4.4 to make sure you understand the information market research reports are meant to convey. Additionally, you will need to tie your findings back to your product. At this stage, it’s okay to rethink your target market to fit better with your product or to rethink your product to fit better with your target market, so if your survey results show that the product or the target market need to be adjusted, your poster should reflect that.

Include the following in your poster:

A completed survey

A short description of your method of data collection

A short description of your target market and where you found your interview subjects

A short description of your business idea (you can represent it graphically if you wish)

Results: Describe and interpret your data using frequency and cross-tabulation methods as shown in Student Resource 4.4, the example survey, and in this resource, which describes how to conduct your own analysis

Conclusion: Explain what your results mean in terms of how you will adjust your target market or your product, if at all

Make sure your survey findings meet or exceed the following assessment criteria: The survey questions address the goals of the research and target specific information about

customers and the local market.

The questions are written in an unbiased and effective manner.

The survey samples were collected at an appropriate location and time for targeting the group of potential customers.

The findings demonstrate your ability to apply interpretive, statistical models, including cross-tabulation, to gain insight into key data points.

The research conclusions are logical, appropriate, and insightful and describe how the research could influence an entrepreneur’s decisions in starting a new business.

The work turned in is neat, legible, and presentable.



Make sure your poster meets or exceeds the following assessment criteria: All of the required components are included on the poster.

The subjects interviewed were appropriate to the product, and the data collection method chosen is logical and appropriate.

The connection between the product and the target market is expressed clearly and makes sense.

The conclusion drawn is logical, appropriate, and insightful.

The poster is neat and legible.




Template: Culminating Project Presentation

The title slide of the presentation introduces the name and main function of the company as well as the names of all the business partners.

The layout, colors, and text should be professional and legible and should match your company’s look and feel.

Use the titles of each slide to write descriptive headers that tell a story of how your business is prepared for success.

Use the slides to show your audience everything they need to know—either visually, with graphs or charts, or verbally, with brief phrases that evoke immediate understanding. Lists with bullet points help highlight key information in an easy-to-read way. Include interesting and relevant visuals such as photos or graphs that help support your points and make the slides more interesting.

The notes section beneath the slides is for you and your team. Write down the ideas you want to highlight during your presentation. Use the notes to support what’s on the slides. Don’t just read the slides!

Change the slides in this template to fit your own business’s needs. You can add more slides or remove some to fit your business plan. Make sure your work is detailed, persuasive, and engaging.



The first slide should capture your audience’s interest right away by presenting the business idea in an interesting, persuasive way. Like the executive summary in the written business plan, the first couple of slides must introduce the business model and its competitive advantage. They need to immediately capture the audience’s interest and give enough information so that everyone can understand how the business works and the need it fills in the market. For example, what are the benefits of the product or service? What niche of customers are you trying to reach?

You may also want to engage the audience by giving a few exciting facts or projections about the company—for example, if your financial statements show that the company will profit in a relatively quick amount of time or if you will be able to grow quickly.



Tailor the presentation to your audience. If the audience already knows a lot about the industry and market that you hope to work in, you need to convince them that you also have done your research and know your market, without boring them by telling them facts they already know.

For this presentation, however, you’ll be giving a talk to an audience that doesn’t necessarily know much about your industry and market. You’ll need to educate them and present your industry and market research.

In this slide, focus on how the historical trends and events in your industry affect your business, and how your marketplace will influence your success. Identify your competition and explain how you plan to target your customers. You may also want to explain any market research you’ve performed, especially any primary research.

Remember that your purpose is to provide just enough information to persuade your audience that your business can play an integral role in your industry and marketplace.



The organizational plan should cover the logistics of operating the business. For example, you may want to discuss the following:

• How the business will sell and deliver products or services

• Legal structure of the business

• The managers’ experience and roles in the business

• Any expected staffing changes, new hires, or other growth in the initial start-up phase

You might also want to cover future plans that may change or add to the organization, such as staff members you plan to hire, if that is relevant. Remember that the goal of the presentation is to persuade audience members to invest, so you’ll want to convince investors that you have the right experience to help them earn back their investment.



Your financial statements and projections are the backbone of your business plan, because they show the potential your business has to earn your investors a profit or lose their money. You’ll need to include an income statement in your presentation and describe the start-up costs and funding needs, and when you expect to make a profit.

Keep some notes so that you can do the following in your presentation:

• List the start-up costs for the company

• Describe how the business will obtain start-up funding and how much it will seek

• Show financial projections, including a profit and loss statement (income statement)

• Identify when the company will break even and when it will reach a profit

Additionally, many entrepreneurs include a sensitivity analysis, which considers how the projections will change if something does not go as planned. For example, if sales are less by 10% than projected, or costs increase by 10%, your ability to profit and manage cash flow may be severely affected. So, entrepreneurs provide multiple projections to help mitigate the risk that their initial projections may be inaccurate.



The risks to your business can range from flaws in your business proposition that threaten your chances of success to emergencies or natural disasters farther down the road that may impact your bottom line. In your presentation, focus on the main threats to your business model and in the marketplace rather than the more minor risks. This demonstrates a well-thought-out plan—it shows that you have anticipated problems and developed ways to avoid them.

Remember to keep the bulk of the information you want to explain here in your notes section, and use visuals on your slides to help illustrate your points. You may want to cover the following:

• Identify risks to your business or weaknesses in your business proposition

• Identify the impact of those risks

• Describe how you will mitigate the risks

You may also want to mention any insurance or other costs related to risk that will influence your financials.



A code of ethics ensures that you and your employees make good business decisions and build trust with customers, investors, business partners, and the community. Use this slide to show the highlights of your code of ethics. Investors want to know that you are committed to behaving ethically and responsibly.

If the purpose of your new business is to contribute to the social good, you could devote a couple of slides to this topic, because it is central to your start-up.

Your presentation doesn’t need to cover your full ethics code, but you can highlight the following:

• The values that guide your business relationships and choices

• The guidelines and rules you will follow in operating your business

• Your commitment to behaving in socially responsible ways



It may seem strange to plan a long-term growth strategy before you even know whether you’ll get funding. However, sharing your long-term plans with investors and potential business partners will show them that you do have the vision and commitment to see your venture through the short term to reach a larger goal. It can also help entice them and get them envisioning the business as a successful venture right from the start. Investors want to know how long it will take and what resources your business will need to make it through the start-up phase to a growing and established business.



The concluding slide of your presentation is important. It’s your last chance to motivate and engage your audience. Remind them of the most interesting and important facts of your presentation and why they should invest. Let your audience know specifically if you are asking for funding, how much you need, or what other support you are asking them for.

If you have time left, ask your audience for questions and be prepared to answer any hard questions they throw at you. Being prepared will show your audience that you have thought over everything very thoroughly and that you are prepared to take the next steps to launch the business to success!


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