Sunday, April 1, 2018

Budding Entrepreneurs ‘Wow’ Judges With Bold New Products: By Mary Murray

    The promise of successful entrepreneurship isn’t limited to the select few who submit to being grilled by “Mr. Wonderful” on the ABC hit show “Shark Tank.”  Emerging young leaders are sharpening their business skills right here in Northwestern Pennsylvania, and, in the process, developing some pretty promising products. Watch out Kevin O’Leary for these young “sharks’ might be nipping at your fortune.
    Students in at least a half dozen schools in Erie County have been introduced to the world of entrepreneurship through classroom instruction focused on basic business principles such as product development, cost of goods, profit, marketing and distribution channels, thanks to Goodwill instructors Angela Murosky and Mary Murray.
    The teachers also coaxed their students to think about concepts such as branding, the psychology of color to best represent their product, a logo, company name and tagline for their product. The results were amazing.
    One team at Seneca High School developed Slurp Juice, an energy drink, while another at Fort LeBoeuf High School crafted a customized fidget spinner that would allow customers to personalize it with their names and their favorite color.
    At the Erie County Transition Center, a crowd attended the mock Shark Tank event, complete with a boisterous team of “sharks” recruited to judge the student entries. The students had to pitch their product, discuss sales and forecast projections to win the judges over.
    One team developed “Woof and Meow” a customizable dog or cat collar with lots of bling! The slogan: “We make pets fancy” was created by Michael, who also came up with the company name.  Armed with her erasable white board, team leader Maria guided the team with tasks – Moni was in charge of customer service and marketing, Scott handled sales and Zach was the chief financial officer.
    Vying for the judges’ attention was a second team that turned the fast-food industry on its head. This group created “Healthy Belly” a drive through restaurant with only healthy offerings. Makayla led the team, Zach developed the name, Nate was the design consultant and Sam was in charge of operations and hiring. This team carefully designed a “green’’ building to further reflect its approach to food and its clientele. A carefully curated menu included energy drinks, healthy salads, signature wraps and yogurt. No greasy fries or artery-clogging burgers were to be found.
    The good-natured judges bantered with each other, made side deals, and cajoled the students to buy their products. They scored each team’s presentation, delivery and content. Besides honing their business skills, the students practiced their public speaking and learned how to advocate for what they believed in.
    A small reception followed, with, surprisingly, dollar-sign sugar cookies. “Mr. Wonderful” would be proud!


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