Week 4 was a short week. There was no class on July 28th and 29th because of the National Holiday, Peru's Independence Day. After returning, the student entrepreneurs got right to work. They had to create business plans, incorporating everything they had learned so far. Specifically, the business plans had to have analysis of the following:
- Market - the market/industry that the team is entering (TAM, Beachhead Market, etc.)
- Competition - major and minor players, their niches, and the team project niche
- Technology - technological strategy in the market and team’s strategy
- Tactics - how exactly the team will proceed
- Personnel - why the team members are outstanding
- Finance - 5 year financial plan (cash needs, personnel growth, money spending plans)
At the end of the week, each team pitched their business plan in order to prepare for Demo Day. These pitches consisted of the following information:
- Introductory story to hook the audience on the product/service
- Brief company introduction
- Target customer persona(s) and their “pain” that the team will solve
- Team solution
- Market Strategy (Customer demand, COCA, TAM)
- Graph of financials / brief financial description
- Team and comparison to competitors
- Summary to wrap it up
Meanwhile, teams also worked on developing their prototypes. Although this was a short week, it was a huge leap towards preparing for Demo Day.
