Geb 3113

Concept Statement

Instructions and Grading Rubric

How to Start a Business, GEB 3113

Individual Assignment Worth Up to 120 Points

Purpose:

A concept statement is typically used for two related reasons. First, it is an excellent way to help you consolidate your ideas about your concept in one short, sweet document. You will find that it is not easy to boil all your dreams and inspirations down to a one-page explanation!

The second reason is for you to have a document that you can give to other people, focusing on just the information that they really need to know. Entrepreneurs (and intrapreneurs) will show their concept statement to experts to get feedback on their concept, and to potential customers to determine what they like and don’t like, and whether or not they might buy from you. While it would be exciting to show it to your friends and family, they are not likely to tell you the hard truths you need to hear from industry experts and potential customers.

Most entrepreneurs will develop surveys and questionnaires to solicit feedback from experts and potential customers. You are not required to do this for this course. I just want you to learn how to prepare a concept statement. You will refine your Concept Statement throughout this course. Hopefully, by the time the term is over you will have a document that will clearly and concisely convey information important to the reader about your concept.

You will submit a Concept Statement twice this term:

1. Concept Statement 1 (CS1), the first submission, is worth 20 points. See the instructions below.

2. Throughout the course you are expected to improve and revise your initial concept (CS1) as you learn more about how to start a new business. Then you will submit your revised Concept Statement 2 (CS2), for 100 points. If you don’t improve your first Concept Statement to show what you’ve learned, the best score you can hope for is 20/100 points. See the...