An entrepreneur with a business idea approached the Portland State University Senior Capstone program for help moving her idea forward.
Project Scope:
The idea involves creating a web-based platform with two users: customers and suppliers. The platform would act as a middleman for a very niche B2B market where both types of users have expressed needing help connecting with each other.
Working on this project for a Senior Capstone meant that my team consisted of 10 business students from several disciplines. Because I had a double major in both marketing and advertising, my role encompassed both disciplines. In this project, I conducted market research and tech research, assisted with client education, and provided support for my teammates. I also completed final edits on our report and presentation.
Our final deliverable included a comprehensive business plan covering feasibility, market research, and funding options. Our plan also included strategic recommendations for differentiation, branding, as well as a complete marketing plan.
Primary research:
- I wrote surveys for each type of user.
- I wrote a cold call phone script, then contacted businesses within the target market to ask permission to email the survey to them. This step resulted in a 97% survey response rate.
Secondary research examined:
- Feasibility and profitability
- Competition
- Market size and growth
- Gaps between what is currently available and what users need/want
- How to best monetize the service
- Trademark and copyright
- Business registration and name availability
- Web Developer costs and hiring options
In addition to the above research, I helped to educate our client about branding and logos, copyright and trademarking, inbound marketing, and how a business plan differs from a pitch deck. (She was initially opposed to writing a business plan.)
Our recommendations were delivered to the client in December 2019. The various funding options we provided correlated with different timeframes to launch. In short, we advised her that the more funding she obtained upfront, the sooner she could launch.
Technical skills used:
- Communication & Negotiation
- Leadership
- Critical thinking
- Creativity & Imagination
- Project management
- Survey writing
- Survey software
- PowerPoint
- Presentation design
- Excel
- Word
- Google Docs, Sheets, Slides
- Canva
- PicMonkey
- Pixlr
- Public Speaking
Team:
Accounting – Jerome Licaycay & Jack Elsener
Advertising – Tobin Carlberg & Pam Noble
Finance – Sam Nelson
Human Resources – Aeden McRea
Marketing – Francisco Meneses Luna, Jennie Park, Nate Frost, Toma Matisoff, & Pam Noble
Notes:
- This client has opted to bring a tech co-founder onboard without seeking additional funding. Because of this, we don’t expect to see the results of our recommendations for some time.
- The client has also requested that all team members sign a Non-Disclosure Agreement, which is why the business is not named here.
Pam Noble 