Pride Product Approval Form
Submitted to Product Approval Committee
Name
Date (s) submitted
Research Topic / Area of Study
Connection to research paper
Goal of product / what problem or
need solved or addressed
Estimated time to complete
People who will assist (if applicable) Pat Millen, Founder and Executive Director of E2D, Inc.
Estimated cost / investment
What will judges see at
presentation? (evidence of work
and development)
Jack Thomas
October 4, 2017
Entrepreneurship
In the research paper I learned that one of the keys to a
successful business is planning. Creating a business plan for a
newly started company lays out the objectives/goals for the
business. I also learned that business plans are critical to getting
financing from banks and investors.
My Pride Product will be to create a business plan for an
imaginary product using what I learned in the research paper. I
will follow the steps outlined in the paper and then present this
business plan.
My Product will address one of the most common reasons
businesses fail - lack of planning. A formal business plan is
critical to the success of any new business. It is a structured way
of organizing the objectives/goals that a new business wants to
achieve and how to achieve them in the long run.
Businesses that fail have not considered important factors such
as financial and legal decisions, competitors, marketing and risk.
In creating a business plan, I will research all of this information
to help ensure that my business has a good chance at success.
8 Hours
$10
Judges will see a presentation of my business plan including (all
of this will be bound):
1. A description of the problem
2. My solution/product ​The Ultimate Alarm Clock
 3. Target market
4. Competitive advantage
5. Marketing plan

I will present the plan as if I was making a sales pitch to

investors to obtain financing for my business (like a Shark Tank
presentation). I will also include videos that demonstrate how
the product could operate.

Personal stretch (area of growth) Presentation/ sales pitch (would like to become better at
presenting for an extended amount of time)

Product Description:
I will create a hypothetical business and then develop a business plan/model that shows the business’
future objectives/goals and strategies. The plan will use tools from the Small Business Administration
and guidance from my mentor who has started 2 successful businesses. I will complete the following
steps to develop my business plan:
1. Develop an imaginary product which is the ​ultimate alarm clock​. This alarm clock will
combine many different features to help even the deepest sleepers wake up in the morning.
2. Complete market research to make sure my business is viable and determine my
competitors
3. Create a marketing plan including an internet strategy
4. Identify potential risks/concerns and their solutions

I will create a “pitch” for the business with the goal to secure financing from the Pride Project judges.