After pairing up with my group members, we started to brainstorm different unique business ideas to set ourselves apart from the competition. From the beginning, we knew we wanted to create a feminine brand that valued inclusivity, which eventually led us to Ma Chérie; a lingerie company that values diversity, empowerment, and sensuality.

We were given approximately twelve weeks to work on our business plan, and there was no time to waste. A myriad of factors go into crafting a high-quality and well-thought-out business plan, so my group and I decided to divide and conquer. When selecting group members for this project, analyzing each other’s strengths and weaknesses was crucial to determining what value each person could offer. This strategy helped my group and I when assigning tasks because we knew what each member would excel at. With this strategy, crafting our business plan was more manageable and allowed for stronger communication when another group member could provide assistance. Moreover, we determined who our target customer was early on in this process to guide our decisions about branding, marketing, and product offerings. Whenever we struggled throughout this process, we always circled back to our target customer because defining the demographics, psychographics, and other details that make up a brand’s audience, is essential to crafting a strong business plan.

After we finished our business plan, we had to develop a five-minute pitch to share with pseudo-Shark Tank investors. Working on our pitch was a healthy challenge for my group members and I because we had to know our target audience, financial details, and other factors very well to consolidate it into a five-minute pitch. To maintain consistent branding, we made sure to utilize our color palette, font, and logo from our formal business plan.