Pitch
IDEA INTRODUCTION PATTERN
“For [target customers] Who are dissatstifed with [the current offerings in the market]. My idea/product is a [new idea or product category] That provides [key problem/solution features]. Unlike [the competing product]. My idea/product is [describe key features].”
Pitch Checklist
- Is the problem clearly stated? Yes. 100/100 a) Is it an important problem? Yes. b) Do many people have this problem? They have great research on their market segments c) Would people pay to solve the problem? yes d) Is the proposed number of people (market size) credible?\
- Is the solution clear? 95/100 a) Is the solution unique? How they are going to sell it is a little unclear, meaning whether they have conclusive manufacture or sell it themselves from their website (where will the product get stored?) b) Is it compelling (faster, cheaper, smarter)? c) Is it worth the proposed price?
- Is the proposed business model realistic (will it work in practice)? 90/100 a) Is the customer clearly defined? yes b) Will the customer buy the product? c)For the price being considered? a little ambiguous if the customers would pay this price.. maybe do some surveys d)Is the assumed customer acquisition costs CAC reasonable? e) Is the assumed Customer life time value CLTV reasonable?
- Will the marketing plan provide access to the correct market seqment of potential customers? (100/100) a) are the assumed marketing costs reasonable? Yes, the financials take into account increased marketing and expenses which means their market advertising is growing and changing as the company develops. b) are all the competitors mentioned? If not who is missing? c) Does the competitive advantage stand out above the competitors?
- Are the Financials realistic? (99/100) a) Are all the expenses anticipated? if not what expenses are missing? The product prices b) Are the sales forecast realistic? If not, why? they did a good job changing financials in advertising, product development etc. as they realize cost goes up the more in depth they get into the project. c) Is the 5-year revenue and earnings credible?
- Is the amount of capital requested reasonable for the equity offered? Is the forecast ROI forecast credible? (100/100) all their ratios, the ASK, and ROI seems credible.
- How well does the prototype, demo or mockup convey the uniqueness and value of the product (how much does it help make you want to buy the product)? (80/100)
- Review their website to understand their areas of interest - more development needed. a)-how easy is it to navigate the website? easy b) Is it clear what service or product is being sold? c) Is the value proposition compelling i.e. do you want to buy the product or service?
- Does the team seem adequately prepared to execute the idea? 100/100
- Are the milestones reasonable? Have the team’s accomplishments to date be reasonable? 100/100 it is easy to see how their milestones change as they do more research and continue to modify the project.