FIVE minutes, three business leaders, one idea - go!
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Welcome to Shark Tank, St Stanislaus' College-style where Year 11 business studies students pitch their business plans to some of the Bathurst’s leaders.
Rather than the usual submitted written business plans, college co-ordinator of learning Victoria Hughes came up with the idea of recreating popular Channel Ten show Shark Tank for the students.
Each of the 30 students had just five minutes to pitch an idea they came up with themselves to three of Bathurst's business leaders - Melissa Kelly from Bake Table and Tea, Geoffrey Finall from accountancy firm Finall Taylor and Associates, and ex Stannies’ teacher and current Charles Sturt University lecturer Iain MacDougall.
Business ideas the students presented ranged from Mexican restaurants to lawnmowing services.
“They created a small business and most of them chose to set up a Bathurst business,” Ms Hughes said.
“They used to just hand in an assignment, they really had nothing to challenge them.”
They used to just hand in an assignment, they really had nothing to challenge them.
- Co-ordinator of learning Victoria Hughes
Student Jack Love presented his plan, including costings, for a proposed Mexican restaurant to the three business leaders.
“It was pretty daunting because everything that I didn't have in there they were quick to pick up on,” he said. “It was scary, but I got through it.”
After each presentation, the leaders had their chance to quiz students for more information, missed costings and also to provide feedback on the plan.
“There’s a lot to do with running a business, like marketing,” Jack said after the leaders picked up on his marketing ideas.
While students’ business plans varied, Ms Hughes said there was one thing that many of them had in common.
“The vast majority of people underestimated how much it costs to run a business,” she said.
Luke Macauley presented his plan for an educational folder called Learning Mate and said he learnt a lot from the experience.
“It was good, they seemed to like it which was good,” he said of his presentation.
“They showed a lot of business experience which was quite interesting. It was good to have an opportunity for external professionals to share and give feedback.”
