TBT #16: Social Opportunities
Digital competition, collaborations, and the gig economy
Twitter is my favourite social media platform. I’ve been able to develop friendships, a large network, and a few speaking opportunities.
But can students gain similar results from it?
I am amazed at the responses and discussions that happened from the above question. Click the tweet to check them out and chime in.
Now, onto this week’s ideas.
🍎 One Fit Apple
Why?
With the recent surge in growth for Peloton, it makes sense for Apple to enter an industry with a high possibility for success.
The key takeaway for students with this announcement is the benefit of competition.
Although Peloton had competitors, it’s arguable that Apple will become their biggest rival.
Peloton has two choices: roll over or innovate. Based on this tweet, I think they focused on the latter.
Competition is good for business and will be an even better case study for students to witness and analyze.
Discussion Points
What advantages do Apple and Peloton have over the other?
Is bundling Apple apps and products into the Apple Fitness+ something that will help or hurt the company? What about other companies, like Spotify or Fitbit?
What are some offerings Peloton could introduce to compete with Apple?
Assignment Idea
To develop a better understanding of the fitness industry, have students compare different in-person and digital fitness subscriptions in your community.
Some areas that students can focus on when comparing physical gyms to fitness apps can include:
Cost (memberships, equipment)
Time (travel time to/from the gym versus in your home)
Motivating factors (space, environment, accountability)
Other external factors (COVID restrictions, availability, restricted times)
🤴 AirBNB For a Fresh Prince
Why?
Combining business with culture is something students will gravitate towards.
Showing students how companies, like AirBNB, use creative methods during downturns in their business model should be inspiring and eye-catching. Although travel restrictions have limited the number of travellers, renting out homes like this will attract more staycations or nearby residents looking to be part of the experience.
This should allow you to discuss a variety of business topics while appealing to the student’s interests.
Discussion Points
Why could collaborations like this be the future for rental apps like AirBNB or Uber?
Are experience stays more profitable than practical stays? Could offerings like this change the landscape for people who own properties with the sole purpose of renting them out?
What other experiences could AirBNB offer to maximize on nostalgia or memories?
Assignment Idea
As a fun activity, students could design and pitch their perfect AirBNB experience using a TV show, movie, or cultural event of their choosing.
Using the link as a resource, students should be able to identify all of the perks individuals would receive by staying there and include a competitive price point.
Although this won’t be one to formally assess, they should have fun creating their dream night.
🍟 Is This Why the Travis Scott Meal is So Popular?
Why?
When I bring up McDonald’s Travis Scott meal to my students, the first thing they point me towards is the viral drive-thru orders.
However, Michael Miraflor has an interesting take on why these are becoming the most popular meal on the menu.
Students will have some interesting takes on whether the price point or Travis Scott’s popularity is the driving force behind sales.
Discussion Points
How does marketing affect your decisions to purchase products like the Travis Scott meal or the Popeye’s chicken sandwich? Do you feel FOMO (fear of missing out) if you don’t get something that many people are consuming and sharing?
Do you believe the price point was a legitimate choice? Why do you believe this is priced considerably lower than ordering the same items off the regular menu?
What advantages does a restaurant collaboration offer the celebrity? What about the restaurant?
Assignment Idea
Allow students to showcase their creativity and develop a new collaboration between a musical artist of their choosing and a brand.
The goal of the activity should be for students to research specifics about the artist, how they’re connected to the brand historically, and how those specifics can be integrated into a good or service offered by the company.
To take it one step further, have students record commercials pretending to be the artist or develop a poster promoting it.
I know they’ll have fun presenting this one.
🛹 Are These Fleetwood Mac’s Dreams?
Why?
If you haven’t seen this video yet, you must be in an internet dead zone.
Students understand the power of virality on social media. However, it becomes more apparent when there are numbers attached to it.
The growth this song has seen in the span of a few days is unbelievable. It also proves that it takes one instance to go from unknown to popular for an entire generation.
Sharing these numbers with students in a social media-based lesson will help them understand how individuals and groups can be impacted by a post gaining worldwide attention.
Discussion Points
Are the top music charts fueled by social media, or is it the opposite?
What opportunities could this person obtain from a viral video? Example: ad sponsorship with Ocean Spray.
What does it take to make a post, photo, or video go viral?
Assignment Idea
To give students some time to have fun using social apps, have them re-create this video in a way that’s more personal to them.
Examples can include choosing their favourite beverage, a favourite song, and doing an activity that interests them.
Although this will be tough for a formal assessment, it will be a good break for students to work on creativity and creation.
🤑 Millennials and the Side Hustle Economy
Why?
Even if students don't take an entrepreneurship class, I believe it’s important we introduce every teenager to the power of a side hustle.
There’s a ton of benefits to taking on a side hustle, but many won’t see why until they reach a later stage in life. Introducing them to the benefits and risks now will help set them up for a greater chance of success later in life.
And who knows, maybe some will make the push now and become the envy of their classmates.
Discussion Points
What are the benefits and risks of taking on a side hustle as a high school student? What about as a young adult in college, university, or entering the workforce?
As more people start side hustles, do you believe it will be more challenging to create a profitable one? Why/why not?
How much would a side hustle have to outperform a full-time job for you to consider making your side hustle a full-time gig? Consider extra costs like health, dental, and retirement savings.
Assignment Idea
To show students they possess the ability to start a side hustle, run the following activity with them.
Have students list a variety of skills, interests, or passions they have
In small groups, brainstorm potential side hustle ideas around their lists. Try to make connections between multiple points. The more you enjoy it, the less it feels like work!
Once a list of side hustles has been created, have students rate it on a scale of 1-3 for feasibility, profitability, and interest. This should help them narrow down the list to one or two possibilities.
Next, have students develop a checklist of what is needed to go from idea to their first dollar. (I recommend going back and checking out Zero to $1 in TBT #1)
Even though we aren’t requiring them to start it, this could be a great starting point for them to trace back to in the future.
Related: Creating Student-Run Businesses
I’m sorry the latest issue had a delay. Some larger events happened in my life, but I am back on track and plan to get these issues out consistently from now on.
If you find value in these articles and think other educators can benefit from it, please consider sharing it.
Take care! Until next week,
Sean