In the Spring Semester of 2018, our group member Gabby was a part of the Business Creations class instructed by Professor Munoz. She created a business plan with four other students. The plan included a venture description, organizational plan, industry analysis, financial plan, marketing plan, and a management and legal plan. The team discussed each member’s strengths and assigned roles according to them; whether it was Vice President of Administration, Finance, Marketing, or Partnerships. Prior to each section presentation, the team reviewed and revised the plan and PowerPoint to make it as appealing as possible to attract investors. The plan was 50 pages in length and was constructed over a course of three months. Multiple presentations were given before the final, which allowed teams to make improvements throughout the entire semester.
Gabby’s group created a friend-finding app called Kick-It. Its mission was to help people find the friend that they have been missing. The app’s target market would be college students, starting locally in the Decatur area before expanding nationwide. Kick-It users would take a personality test when signing up for the service. Users would then be matched with someone on campus based off of the app’s algorithm. Personality, interests, and other traits are considered in the matching process. Users would have the option of picking the type of friend that meets their needs. This includes, but is not limited to, study buddy, bar buddy (for users over the age of 21), concert-goer, or gaming friend. Kick-it will sponsor locations, which will be where users can meet each other.
Kick-it’s projected start up costs would require $512,730 of capital. The application would be free to download from the App Store. The revenue would be generated from advertisements, with a breakeven point of 360 advertisements clicks per day. This daily click rate would bring in $1,808. As previously mentioned, each team member had a specific role in the business. However, there were two positions that still needed to be fulfilled by outside hires. A Vice President of Engineering and Application Developer who would be hired, in addition to the five Millikin students, with their salaries accounted for in the budget. The management team was arranged to be centrally located in Decatur, Illinois. This location was chosen because it is the home of all founding members and would be convenient for meetings and team members that are continuing their academics.
Over the three month process of constructing and revising, the team’s idea that was driven by a mission had the opportunity of becoming an actual business. Each presentation of the plan to the panel helped the team see the business from a variety of well-experienced perspectives. The constructive criticism given by business people from the Decatur community was vital in helping Kick-it improve its chances to become a business. In the end, the team was favored and considered for funding by the panel. However, the team decided to not move forward in creating the application. From the semester-long project of performance learning, students were able to improve their writing skills, presenting skills, and gain knowledge about start-ups.