Reference no: EM133705076

Assignment: Business Finance- Management

Now that you've recommended a solution, communicated the change to your team, and prepared your financial information, the next step in business development is to get investors to back your proposed solution. This is typically done by the innovation consultant or business manager in conjunction with the CEO and other business partners. Business executives and investors are often busy and don't have time for long presentations. Short, informative presentations are often referred to as elevator speeches or elevator pitches because the presenter needs to convey the idea, product, or service in the time it would take to ride in an elevator with an investor. Elevator speeches can contain the proposed solution, a quick financial overview, how to evaluate the solution, and other important information.

Preparation

Review faculty member feedback from your submission of the Assessment Prep: Financial Overview Outline in preparation for completing the financial portion of this assessment.

Record a 2 to 2.5 minute elevator speech about your process, product, or service as if you were given time with a potential investor. In your speech:

1. Introduce yourself.

2. Provide an overview of the challenge facing the business.

3. Present the proposed solution.

4. Provide a financial outlook overview and incorporate information from your Assessment Prep: Financial Overview Outline (assets and liabilities) to demonstrate the business's financial position.

5. Metrics: Explain how you will evaluate the effectiveness of the solution, including measurable analytics, as needed.

6. State the benefits of investing in your product, service, or process.