DECA Members Compete in “Shark Tank” Competition
Have you ever wondered what it is like to be a contestant on ABC’s hit reality show Shark Tank?
This past June, students in the Ramapo-Indian Hills Regional High School District in northern New Jersey had the opportunity to test their own products and presentation skills before a panel of judges from the local Chamber of Commerce.
Not only did DECA members compete and feel the pressure before business owners taking the seats of Mark Cuban and Kevin O’Leary, but also took home top prizes!
In order to appear before the judges, applicants had to utilize all of their DECA skills in marketing and entrepreneurship. Creating a business takes a lot more than a good product, after all. The application had to explain the estimated cost of manufacturing, a description of product pricing and promotion, and the business’ projected profit and possible growth potential, among other criteria.
Chapter Vice President of Marketing, Kevin Forsyth, came in second place for his product “Chocolandles,” which eliminates the problem of inedible candle wax dripping onto cakes and other treats.
Instead, the candle melts into delicious chocolate and the wick is easily removed. They are no harder to use than a traditional wax candle, but uniquely protect your homemade or expensive store bought desserts. Kevin was awarded a $1,500 scholarship.
Other finalists presented a downloadable security software that utilizes cameras on your desktop computers or other devices, a cheaper and more discreet alternative to other security systems, as well as a mobile app that helps you put together matching outfits.
Participating in competitions like these are a great way to hone your DECA skills in between regional and state conferences and DECA’s International Career Development Conference.
Particularly for students competing in DECA’s entrepreneurship events such as the Start-Up Business Plan and Business Growth Plan, just watching Shark Tank, let alone competing in it, is a great way to get creative and learn more about developing and presenting a business idea.
You could even consider running a Shark Tank competition among your own DECA chapter or school district! Not only are these activities great preparation for your next conference, but will undoubtedly help you to #OwnYourFuture in the business world.
Follow Indian Hills DECA on Twitter @IHHS_DECA