Entrepreneurship Question


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Assignment 3: Please put together a project proposal, including your problem statement and research plan. You’ve done these in previous assignments, this is editing down your content and putting it into a presentation format. Follow the below format:

  1. Cover page: Project Title – pick a succinct, catchy title that describes the project and what you’ll be working on.
  2. Problem Statement Page: One paragraph + relevant visuals. Your problem statement should be the last one you landed on, after iterating a few times in the previous assignment. A good problem statement has the following components and it’s not more than a concise paragraph:
  3. Your problem statement answers the following questions:
    • Who is having the problem? This could refer to individuals, groups, or entire organizations. It is anyone (or anything) that is affected by the problem.
    • What is the problem? This can be thought of as the gap that has formed between the current state and the desired state. Describe the unmet need in a brief way.
    • Where and when does this problem occur? This could be a geographic location (such as a college campus), a physical object (such as a product), an entity (such as prison system), or even a process (such as commuting to school).
    • Why is the problem worth solving? This should focus on the importance of fixing the problem.
    • What kind of impact will it make? How will solving it affect people, students, customers, employees, and other stakeholders? In short, what makes a solution worthwhile?
  4. Your Iteration Process Page: Please include the iterations of various problem statements that you explored and a brief explanation on why you landed the one that you are referring to Slide 2.
  5. Desktop Research Page: Quantitative data that shows that this is a size-able problem – this could be reports that you come across as you are researching your problem topic, any statistical data….
  6. Preliminary Solution Statement Page: Please include a broad definition of your solution. Do not specify the exact tool (app, bus, ….etc.) yet, but keep it broad. Follow the format we shared before:
    • We believe that doing/building/creating [the solution] for [specific user] will result in [desired outcome] to solve the problem of [the problem] . We’ll know we’re right when we see [this metric/signal].
  7. Research Approach Page: Describe your research plan – Qualitative and Quantitative
  8. Research Timeline Page: Include a project timeline. Show what you accomplished so far.
  9. Risks and Challenges Page: Include if you have any challenges and risks, and your plan to mitigate these.

Here’s what to avoid when you are writing your problem statement:

  • Describing a symptom instead of the root cause. If this happens, go back to your notes to try to uncover why something is happening, not what.
  • Presenting a preferred solution. It can often be tempting to write a problem statement in such a way that only one solution is possible. Fix this by looking for ways you can broaden the focus.
  • A lack of clarity. This can be caused by trying to capture too many problems at once, or not clearly framing the gap between how the current and desired states.
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