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Surviving the Shark Tank

11-13 yrs old

14-18 yrs old

Digital Literacy

Math & Economics

World Languages

Students will collaborate to design, create, and present a product in search of an investment from "The Sharks" (other entrepreneurs).

avatar Submitted By: Srikanth Katta

April 17, 2017

Skills

  • Communication
  • Creativity
  • Critical Thinking

Learning Objectives

  • Recognize opportunities resulting from other people’s wants and perceived needs.
  • Compare and contrast the risks and benefits of starting a business, buying a business, or purchasing a franchise.
  • Learn about problems facing consumers and business, and how to find solutions.

Guiding Ideas

Surviving the Shark Tank

This unit helps students understand why it is important for entrepreneurs to know their markets. This includes defining market segments and knowing what your customers want. The need to gather customer feedback and how to respond to negative feedback is covered. Other topics covered are why businesses should be involved in their community and properly picking a facility to meet business needs.

This lesson was inspired on the TV Show "Shark Tank" on ABC. It can be a great integration for Language class, Math and Technology class.

Student Activities

Students will be creating a product and a business proposal as if you were planning to pitch your idea to the entrepreneurs on the TV show, Shark Tank.

STEP #1

Duration of activity:

  • 1 - 2 weeks

Organization:

  • Introduction to the project
  • Teams are formed (groups of 2-3 students)
  • Watch an episode of “Shark Tank” so you can get a feel for your project/presentation and how it should be pitched.
  • Get together in groups to begin working on an idea to be presented to the Sharks.

 

STEP #2

As students create their project, they will think about the episodes of Shark Tank they’ve watched in class.

  1. What products did the sharks invest in? Why?
  2. What products did the sharks reject?
  3. How were the products introduced?
  4. What persuasive elements did presenters use?

 

STEP#3

Groups need to decide on their idea for a product, service business or charity fundraising.Expectations for group work:

  • One student creates an advertisement
  • One student creates a conceptual or physical model
  • One student prepares the background knowledge and purpose for the Phase 2 presentation.

 

STEP#4

Students brainstorm their ideas for the Shark Tank project. Groups will select one of the following options:

  • Invent a product to sell
  • Create a service business
  • Raise money for a good cause such as: Helping earthquake victims in Haiti, Adopt a sea turtle, Cancer research

Performance Expectations

N/A

Skills

  • Communication
  • Creativity
  • Critical Thinking

External References