It Just Takes One Idea…
Dear 5th Graders, Have you ever heard the phrase, “It just takes one idea?” Many people are able to fnancialy support themselves for an entire lifetime because they were able to create or invent a product or idea that solved a problem and changed the lives of many. To be a successful entrepreneur you need to be motivated, diligent and persevering; but more than anything you need to be able to accept failure as a motivation to continue working hard and reaching for success. Al great ideas and inventions that we have today came about because someone wanted to make something easier for a targeted audience. Their idea solved a problem that helped others. Over the next three weeks, you and a partner wil be creating an idea or product that could indeed help someone in some way. You wil be determining the cost of developing your idea and putting it into production. You must determine who your target audience is and exactly how much funding you wil need from an investor, and how much ownership you are wiling to give up. I know this sounds confusing right now, but don’t worry I wil be here to discuss and explain al that you need to know. Finaly, you wil present your idea to the “Sharks” (investors) in a mock “Shark Tank” event. You wil dress in a professional manner and pitch your idea/product to the Sharks in hope that one of the Sharks wil invest in you and provide you with the money you need to start manufacturing your product. Owning your own business is part of the “American Dream.” This “Shark Tank” inspired activity wil give you a frst-hand experience of what it would be like to achieve that dream. Best of luck,
Dear 5th Graders, Have you ever heard the phrase, “It just takes one idea?” Many people are able to fnancialy support themselves for an entire lifetime because they were able to create or invent a product or idea that solved a problem and changed the lives of many. To be a successful entrepreneur you need to be motivated, diligent and persevering; but more than anything you need to be able to accept failure as a motivation to continue working hard and reaching for success. Al great ideas and inventions that we have today came about because someone wanted to make something easier for a targeted audience. Their idea solved a problem that helped others. Over the next three weeks, you and a partner wil be creating an idea or product that could indeed help someone in some way. You wil be determining the cost of developing your idea and putting it into production. You must determine who your target audience is and exactly how much funding you wil need from an investor, and how much ownership you are wiling to give up. I know this sounds confusing right now, but don’t worry I wil be here to discuss and explain al that you need to know. Finaly, you wil present your idea to the “Sharks” (investors) in a mock “Shark Tank” event. You wil dress in a professional manner and pitch your idea/product to the Sharks in hope that one of the Sharks wil invest in you and provide you with the money you need to start manufacturing your product. Owning your own business is part of the “American Dream.” This “Shark Tank” inspired activity wil give you a frst-hand experience of what it would be like to achieve that dream. Best of luck,
| shark_tank_directions.pdf |
Directions:
You and your partner will be entering the “Shark Tank” competition for 5th grade during your Idea Lab class the next 3 weeks. The “Sharks” will only choose three products/ideas from the 5th grade in which to invest their money. You will need to complete all the steps in the packet in a timely manner by the due date so that you will be prepared to impress the “Sharks” with your great innovative product/idea during your presentation. You and your partner will be coming up with an original product/idea that will help others, make something more efficient, or solve a problem. Your idea must include an actual product that you can build yourself. (This can simply be a model of the design using materials that you can find at home or school) Your product must be accompanied by a poster or Google Slide presentation with all of the stats about your product.
You and your partner will be entering the “Shark Tank” competition for 5th grade during your Idea Lab class the next 3 weeks. The “Sharks” will only choose three products/ideas from the 5th grade in which to invest their money. You will need to complete all the steps in the packet in a timely manner by the due date so that you will be prepared to impress the “Sharks” with your great innovative product/idea during your presentation. You and your partner will be coming up with an original product/idea that will help others, make something more efficient, or solve a problem. Your idea must include an actual product that you can build yourself. (This can simply be a model of the design using materials that you can find at home or school) Your product must be accompanied by a poster or Google Slide presentation with all of the stats about your product.
| shark_tank_1.pdf |
| shark_tank_2.pdf |
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