I taking a business communications class and part of our grade is this expo project. For the project we formed ‘companies’ or groups of six students to develop a product. For the project you create the company info (name, mission statement and values), media material (print ad, TV commercial and media kit) and the product. All of this, in about five weeks and mostly outside of class time. The project was a killer amount of work.
The team I was on was very good. As those of you who have done team project know they can be nightmares. My team was motivated and energetic from the start. They were also ambiguous; hence we bit off a great deal more then anyone could chew for a product. Our product was innovative, clever and way more complicated then anyone without a real interest in commodities trading or finance would be willing to listen to.
The first step in the project was to pitch our idea to the class and take questions and feedback. This was a nightmare. We kind of crashed and burned. Our idea was hard to explain and had lots of moving parts. We feel victim to going off on tangents when answering questions. This was the path of madness I tell you.
We had two weeks before the expo and we were loosing faith in our own idea. To complicate things we need a product example, TV commercial and all the trappings of a trade show booth. Did I mention that I have been stressed lately?
Last night was the expo. The project worked like this. The professor had wrangled 100 or so people to play possible investor visiting our expo. Each of them had two checks, one for $300 and one for $700 that they could invest in any of the three companies at the expo. Our job was to give them our pitch and convince them that they wanted to invest with us. The company with the most money invested would get an automatic 100% on one of the three part of the project.
I was amazed at the level of professionalism from the whole class. Having been to a couple of trade show, I would say that the only thing that was lacking was a couple of thousand dollars in booth displays. The product demos, pitches and attitudes were the same. In the end the result was close out of almost $100K invested the gap was less then 6K between the highest and lowest.
We won by a very narrow margin. This is much better then any of us expected to do. It is a testament to the hard work and creative thinking that went into the last couple of weeks. We did not change the product. Instead we took the feedback we got and changed how we explained the product. It was a difficult thing, I think by the end we did well.
I don’t care really that we won. What I care about is that we turned it around.