Explain why Entrepreneurship requires you to take action and learn from your actions taken. Your final project in this course is to create an alpha prototype of your idea. Depending on your idea, it might be creating a very low fidelity version of an app, a website, or another representation of your concept.
You are probably thinking at this point – I have no idea how to create an app!? While you are free to use any tool you feel necessary to create a prototype, I would highly advise you to use Glide Apps (https://go.glideapps.com/) or V.one to construct your prototype. Glide Apps is a free, no-code tool that enables you to make functioning applications only with a spreadsheet. You may also want to check out a tool like Bubble: https://bubble.is/home This one is more complex, but you can build a ton of automations and workflows. There are people that have built businesses and sold them using these platforms. I would also consider putting a note on your application that it is being used as a class project.
You will write a maximum two-page, single-space brief that describes the business idea that you constructed your app around. Please cover these major sections:
The problem and solution
A description of your idea
What is it
Why is it innovative
Who are competitors?
Your Value Proposition
Your target market/market need
This should be a concise group of people
Please include an estimate on how many people there are in this market, and how much you believe they spend per year on average on solutions like yours
Why do they need this?
Your Revenue Model
How will you make money
How much money do you think you will make in one year? (Hint: refer to your answers in the target market section to help!)
How much money do you think you will make by the end of 3 years?
Your simple startup plan
How much of an investment would you estimate you would need to get started?
Where would you get that money (see Chapter 13)
The biggest challenges you see in building this startup
How you will face uncertainty
Would this be feasible for you to pursue?
Is this financially feasible?
What has to go right for this to be the case?
Include a link to your prototype
Last Completed Projects
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