This should be a paper-style reflection and turned in using Word or pdf format (i.e., not the ExEC platform version).
Be certain to review the rubric that is attached to the assignment listing–the questions you’re required to answer are all included there.
While entrepreneurship is about creativity and innovation, please do not get creative with your formatting–please adhere to the following:
12-point Times New Roman font
Double-spaced (to make it easy on my eyes as I read 300+ of these)
Full sentences and proper grammar
Include question headings if it is helpful for organization purposes (not required, but perfectly ok to use)
Please ensure that you consider what each question is asking so that you answer each fully. As it says above, this should be considered one of the most important things you produce for this class. As such, please review if I’ve provided you feedback on our regular assignments throughout the semester. If I’ve asked you to elaborate or fully answer questions, please take these suggestions to heart when preparing this document. The following are guidelines for grading the paper:
SECTION 1: SOLUTION DESCRIPTION (50 points)
In detail, describe the experiment you conducted to test your riskiest assumption about your solution. What assumption did you decide to test and why? Through what mode (e.g., distributed surveys, forum posts, polls) and medium (e.g., Facebook, Instagram, LinkedIn, Reddit) did you test your assumption? Provide details. What trend did you find from the responses you received? Provide details. What conclusion have you come to about pursuing this idea after analyzing your data? Remember you were provided resources to do a basic analysis that will provide you with some insight into how you came to these conclusions.
Advanced Solution Descriptions (90-100%) will include the following:
1) Apparent focus on explaining the assumptions you chose to test from your Business Model Canvas.
2) Details about the survey experiment you created to test these assumptions, including examples of the questions you asked.
3) Details showing what you did to test the data you collected and a detailed explanation of what the results mean. Advanced explanations will include explicit references back to the trends from your data.
4) An appendix at the end that includes a copy of the survey you launched and an example of the raw data.
5) A posthoc interpretation of whether or not you feel like this would be a good idea to pursue and why.
Evolving Solution Descriptions (70-90%) will include the following:
1) An adequate explanation of the assumptions you chose to test from your Business Model Canvas, though some details could be strengthened.
2) Details about the survey experiment you created to test these assumptions, though examples of the questions you asked are missing.
3) Details explaining what you did to test the data you collected and an explanation of what the results mean, though the statistical approach discussed in class may not have been used.
4) A posthoc interpretation of whether or not you feel like this would be a good idea to pursue and why.
Solution Descriptions needing more work (<70%) will reflect the following:
1) A simple or lacking explanation of the assumptions you chose to test from your Business Model Canvas.
2) A brief synopsis of the survey experiment you created to test these assumptions, though examples from the survey are missing.
3) A simple or lacking explanation of what you did to test the data you collected and a lack of backup for what the results mean.
4) A brief or misaligned interpretation of whether or not you feel like this would be a good idea to pursue and why.
SECTION 2: BUSINESS MODEL DESCRIPTION (30 points)
In detail, describe how the elements of your initial business model have evolved and changed during the solution validation process. Which assumption(s) within your business model have you learned the most about? Through which activities did you learn the most about the process? What specific data that you collected along the way support how you're currently framing your model? How have you integrated that data into the latest iteration of your business model? What will be helpful to test next as you work to replace your personal assumptions with validated data within your model?
Advanced Business Model Descriptions (90-100%) will include the following:
1) A detailed explanation of how you currently imagine your Business Model Canvas looking, providing details about why you assume these elements belong.
2) References to your experiment (e.g., survey) that either support or challenge your interpretation of the plan you discussed.
3) An explanation of your interpretation of the data you collected in your survey (i.e., did you feel it confirmed or denied your assumptions about that element of your BMC?).
4) Your ideas about what assumption(s) of your Business Model Canvas would be most important to test next if you wanted to continue and why.
Evolving Business Model Descriptions (70-90%) will include the following:
1) An adequate explanation of how you currently imagine your Business Model Canvas looking, though some details may be missing.
2) Vicarious references to your customer surveys that either support or challenge your interpretation of the assumptions you tested.
3) A brief explanation of your interpretation of the data you collected in your survey (i.e., did you feel it encouraged confirmed or denied your assumptions about that element of your BMC?).
4) Broad ideas about what assumption(s) of your Business Model Canvas would be most important to test next, though some justification may be missing.
Business Model Descriptions needing more work (<70%) will reflect the following:
1) A superficial explanation of your Business Model Canvas, details are missing.
2) Vicarious or missing references to your customer surveys that either support or challenge your interpretation of the assumptions you tested.
3) A simple statement of your interpretation of the data you collected in your survey with no justification outside of personal opinion.
4) Broad or missing ideas about what assumption(s) of your Business Model Canvas would be most important to test next.
SECTION 3: PURPOSE EVOLUTION (10 points)
In detail, describe how your personal purpose (defined at the beginning of the semester) has evolved or changed during the solution validation process. How and why have your interests/passions changed or been confirmed through this process? How and why has the impact you want to make by solving this problem changed or been confirmed? How do you think your purpose changed or been confirmed? Even though some of your assumptions may have been incorrect, how can you stay dedicated to the problem? What next step do you think will be most important for you to take in pursuit of your purpose?
SECTION 4: TAKEAWAY SKILLS (10 points)
This criterion is linked to a Learning OutcomeIn detail, describe how your entrepreneurial skillset has been strengthened during the solution validation process. What skill(s) that you've acquired do you think will be most impactful to your success moving forward? Through which activities or experiences do you feel you most strongly develop the skill(s)? Why do you think it is an important skill to develop for individuals interested in the entrepreneurial process? Now that you've developed this specific skill in yourself, how will you apply it in your future?
I wrote a draft to grasp a little bit of what were talking about and can attach below. If you have any questions please rech out. We have been creating our own bussiness throughtout the semester. I chose to start a Sports and Faith Podcast. After much evaluation I realized I need to broaden my subject to a podcast more about sports, faith, after college and fitness. So pretty much a little bit about everything in my life to broaden the audience I am reaching. I am supposed to write this reflection evaluating my semester attempts at interviewing others on their sport and faith in their lives along with practicing interviews in general to get to know others in thei rprofessions and everyday lives.
