Aspiring business leaders at Winston-Salem Preparatory Academy put their enterprising ideas to the test last week by pitching their proposals to a panel of judges.
The project, inspired by the ABC reality show Shark Tank, had students draw up proposals for businesses they’d like to start. Their 3-5 minute presentations covered the products and services they would offer, the customers they would target, how they would market themselves, and more. A pool of about $2,000 in prize money was available to students whose proposals were chosen by a panel of judges representing local businesses, universities, and civic organizations.
The project was sponsored by the Young Entrepreneurs Program (YEP), which seeks to instill students with the skills and vision they need to succeed in a constantly changing economy. Chuck Byrd from YEP says that many of those skills are tested when a student pitches a business idea, especially with significant prizes on the line. Even giving students a little bit of practice with addressing a crowd is essential for getting them out of their comfort zones.
“Everyone has a fear of public speaking,” Byrd said. “It’s those of us who decide we have something important to say who are able to find the courage to overcome that fear.”
Developing a business plan is a complex process that requires critical thinking, long-term planning, creativity, and a broad perspective on what consumers want. Perhaps most importantly, it takes enough confidence to bet on yourself. That confidence will serve these students well no matter what they choose to do with their futures.
“Any time that they can apply skills they’re learning in the classroom in a hands-on way is going to further them in their future careers,” said Bonita Hargett, career development and magnet coordinator at WSPA. “It’s a good way to help them build confidence.”
Students in career and technical education in Winston-Salem/Forsyth County Schools are always picking up future-ready skills through their classes and projects. The Shark Tank project was an especially good opportunity to flex their creativity in a way that will help them shape their professional identities and make them stand out in the business world.
“It feels good being able to share some creative ideas,” WSPA Junior Destiny Murphy said of the project. “It feels good being able to share something that I’ve had in my head for a long time.”