Entrepreneurship/pitch ditch project

KhadijahBA_

Main

Home >Homework Answsers >Business & Finance homework help

due tonight

instructions attached

2 years ago
26.02.2024
15

Report issue

files (2)

PitchDeckProjectInstructions1.docx
PitchDeck.pptx

PitchDeckProjectInstructions1.docx

BUS139 Pitch Deck Project

For this project, students must submit a PowerPoint (PPT) presentation (not Google Slides or Key) that will serve as a pitch deck that an entrepreneur would present to potential investors. Here are your assumptions: you are an entrepreneur that is going in person to pitch to a group of investors. That means that you are going to expand on items within your deck verbally and you should not put a lot of words on each slide. A great example is the 6x6 rule which means 6 bullet points per slide with no more than 6 words per line. PPT slides should look appealing. There are many “design” styles within PPT to choose from. Your pitch deck must have ALL the following components:

Company name and logo

· Company purpose

· Who is your company and what do they do?

· Customer’s problem/need

· What is the want or need that your product or service is solving for customers?

· Solution/Your value proposition

· There are likely many other substitutes for what you offer. What makes your product better so that customers will spend their hard-earned dollars on your product instead of your competitors?

· Why now?

· Why is now the prime opportunity for your product or service?

· The Market

· Please describe the market for this product. Include things such as how large the market is for all comparable businesses.

· Getting Customers

· Who is your target market? Who is your typical customer? How will you reach them? What price are they willing to pay? How do you get them to become repeat customers and recommend the product/service to their friends? NOTE: the answer is NOT everyone.

· Competitive Grid (with 3 competitors)

· There should be 3 competitors and you need to describe what EACH of them offers. Do not bulk them together as one.

· Traction/Milestones

· What goals have you achieved already and what do you still need to complete?

· Financials

· Estimate based on what you know. It does not need to be perfect but should include numbers and not just words.

· Team

· This can be you or pretend people. What skills does the team have?

· Call to Action

· What are you asking for from this investor? Make it clear what you are here presenting to them for.

· This slide must resemble the “Example Call to Action Slides as represented in Figure B.14, page 422 in the textbook. Update the numbers and categories or else you will not get credit for this slide.

PitchDeck.pptx

Supplement B: The Pitch Deck

Types of Pitches (1 of 2)

Outcomes of a pitch: Receiver understands it and wants to learn more.

A pitch deck describes nature of the business, the need, the customer, business model, etc.

The elevator pitch was so named after Elisha Otis’ brief but powerful pitch to promote safer elevators.

M. Neck, P. Neck, and Murray, Entrepreneurship: The Practice and Mindset, 2e. © SAGE Publications, 2020.

Satisfies Learning Objective B.1 Describe the pitch process and different types of pitches.

Two sure outcomes of a pitch: the receiver understands it and wants to learn more: No matter what kind of pitch you use, two outcomes are essential: 1) the receiver of the pitch understands your business and 2) the receiver is compelled to learn more, whether you have 30 seconds or 30 minutes to pitch.

A pitch deck describes nature of the business, the need, the customer, business model, etc.: A pitch deck is a presentation in PowerPoint (or equivalent) that describes the nature of the business, the need, the customer, business model, profit potential, team, and call to action.

The elevator pitch was so named after Elisha Otis’ brief but powerful pitch to promote safer elevators: Elisha Otis, founder of Otis Elevator in 1853, invented a much safer elevator than the one in use which was unreliable and unsafe.

Before Otis, elevators were used more to move materials from one floor to another rather than people.

During the World Fair in New York in 1854, Otis was looking to spread the word and get interest in his invention.

With Otis standing on a platform common to most elevators at the time, his team hoisted him three storeys into the air.

He then abruptly took an axe and broke the ropes that were holding the platform in place.

The platform started to fall but Otis’s invention, the safety brake, engaged and prevented the platform from falling to the ground.

This demonstration of how his product worked is the most important take away from the concept of an elevator pitch.

Types of Pitches (2 of 2)

The storytelling approach.

Tell the right story to the right audience.

Make your pitch interactive.

People want to be a part of something new.

M. Neck, P. Neck, and Murray, Entrepreneurship: The Practice and Mindset, 2e. © SAGE Publications, 2020.

Satisfies Learning Objective B.1 Describe the pitch process and different types of pitches.

The storytelling approach

Opening a pitch with “I have a story to tell”: immediately alerts the audience that you have something to say that is interesting, personal, compelling, dramatic, and complete.

Stories are based on a three-part narrative arc with introduction, climax, and resolution: All stories are based on a three-part narrative arc, traced back to ancient Greece and Aristotle’s stories; an introduction that presents the characters and ideas; the climax that outlines the problem and how your solution can overcome complex issues; and the resolution that explains how you expect things to work out.

Starbucks founder Howard Schultz is known as an excellent storyteller who used examples from his personal life to ignite passion in others.

When his father ended up with a work injury and no compensation or health insurance, Schultz vowed that he would create the type of company that he could feel passionate about, one that both inspires and takes care of its staff.

Tell the right story to the right audience: The key to telling a good story is to tell the right story to the right audience.

Make your pitch interactive: Don’t be afraid to make your pitch interactive by asking your audience for input; it will encourage them to become more engaged with your idea.

A study of the Hollywood pitch process showed that when pitchers invited studio executives to collaborate on an idea, there was a better chance of the project being green-lighted.

Pitches were unsuccessful when the pitcher didn’t listen or was unwilling to accept feedback or constructive criticism.

People want to be a part of something new: Everybody wants to be a part of something new and exciting and feel like they had a part in its creation.

The Pitch Deck (1 of 12)

Slide #1: Title

Include the name of the company, logo, and contact information.

Pay attention to slide design.

Consider putting your name and company on every slide.

M. Neck, P. Neck, and Murray, Entrepreneurship: The Practice and Mindset, 2e. © SAGE Publications, 2020.

Satisfies Learning Objective B.3 Explain the content of pitch deck slides.

Although there is no one “right” pitch deck format, there is a basic template to follow: That will help answer the essential questions.

Slide #1: Title

It should include the name of the company, logo, and contact information: And your name as well.

Pay attention to slide design: Don’t be boring here.

Consider putting your name and company on every slide: So your audience will remember you and your company.

The Pitch Deck (2 of 12)

Slide #2: Company Purpose/Description

One sentence to describe the company.

Compare with a known brand.

M. Neck, P. Neck, and Murray, Entrepreneurship: The Practice and Mindset, 2e. © SAGE Publications, 2020.

Satisfies Learning Objective B.3 Explain the content of pitch deck slides.

Develop one sentence that describes what your company does: For example, FlowDog is an aquatic and rehabilitation center for dogs that suffer from physical injuries.

You could also include a type of comparison with a widely known brand: For example, “we are the Uber for pets” or “we are the Netflix for video games.”

The Pitch Deck (3 of 12)

Slide #3: The Problem/Need

Describe the problem that your company is solving.

Describe how the problem is currently being solved by other companies.

Prove to the audience that the problem is a big one.

M. Neck, P. Neck, and Murray, Entrepreneurship: The Practice and Mindset, 2e. © SAGE Publications, 2020.

Satisfies Learning Objective B.3 Explain the content of pitch deck slides.

Describe the problem that your company is solving or how you are addressing a customer need.

Describe how the problem is currently being solved by other companies or how you are addressing a customer need.

You need to prove to your audience that the problem is a big one or the need is great.

The Pitch Deck (4 of 12)

Slide #4: The Solution

The solution is your value proposition.

Offer a live demonstration.

Show a prototype or a picture of a prototype.

For web-based solutions, show a mock landing page.

Another option is to show a use case .

M. Neck, P. Neck, and Murray, Entrepreneurship: The Practice and Mindset, 2e. © SAGE Publications, 2020.

Satisfies Learning Objective B.3 Explain the content of pitch deck slides.

The solution is your value proposition because if you can solve the customer’s problem in a unique way, you are already creating value.

Offer a live demonstration: If possible.

Show a prototype or a picture of a prototype: If the product or service is not yet fully developed.

If the solution is web-based, a mockup landing page is a must.

Another option is to show a use case: A methodology used in the software industry to illustrate how a user will interact with a specific piece of software.

The Pitch Deck (5 of 12)

Slide #5: Why Now?

Convince the audience: Timing is just right.

Point out trends or changes.

M. Neck, P. Neck, and Murray, Entrepreneurship: The Practice and Mindset, 2e. © SAGE Publications, 2020.

Satisfies Learning Objective B.3 Explain the content of pitch deck slides.

This is what you need to convince your audience of: that the timing is just right for your new product or service.

It also means pointing out trends or changes that prove that your company is timely:

For example, Adam Neumann and Miguel McKelvey, founders of office rental company WeWork, spotted that the building they were working in was partially vacant.

This gave them the idea to open a co-working space for other entrepreneurs.

In 2008, they managed to convince their landlord to allow them to rent space on the first floor, and called the company Green Desk, which would eventually become WeWork.

WeWork is now in 56 cities in 18 countries, and had been valued at $20 billion.

The Pitch Deck (6 of 12)

Slide #6: Market Opportunity

It is important to think the TAM, SAM, and SOM through.

Investors will be unable to see the growth potential unless you prove.

M. Neck, P. Neck, and Murray, Entrepreneurship: The Practice and Mindset, 2e. © SAGE Publications, 2020.

Satisfies Learning Objective B.3 Explain the content of pitch deck slides.

It is important to think the TAM, SAM, and SOM through: When it comes to creating your market opportunity slide, it is important to think through three important acronyms that represent different subgroups of the market: TAM, SAM, and SOM.

TAM, or Total Available Market, refers to the total market demand for a product or service.

SAM, or Serviceable Available Market, is the section of the TAM that your product or service intends to target.

SOM, or Share of Market, is the portion of SAM that your company is realistically likely to reach.

Investors will be unable to see the growth potential of your business unless you prove you have a good chance: If you cannot prove that you have a good chance of penetrating the local market, then they will be unable to see the growth potential of your business.

The Pitch Deck (7 of 12)

Slide #7: Getting Customers

Estimate the figures in a geographic area.

Demonstrate an understanding of the customers:

Who they are?

How you will reach them?

How much they will pay?

How you intend to keep them coming back?

M. Neck, P. Neck, and Murray, Entrepreneurship: The Practice and Mindset, 2e. © SAGE Publications, 2020.

Satisfies Learning Objective B.3 Explain the content of pitch deck slides.

It is not enough to quote estimate figures in a geographic area: To say your target market consists of 125,000 people living in a particular geographic area within the city of Baton Rouge.

You need to which types of customers will be interested: You must show you have done your homework and know which customers will go to your café (in the case of a high-end gourmet coffee and donut shop)!

Demonstrate an understanding of who they are, how much they will pay, etc.: Demonstrate an understanding of who they are, how you will reach them, what they are willing to pay, and how you intend to keep them coming back.

The Pitch Deck (8 of 12)

Slide #8: Competitor Analysis & Differentiation

Strong analysis to show competitive advantage.

The competitive grid analysis compares to significant competitors.

Pricing, capacity, location, and other attributes play an important role.

M. Neck, P. Neck, and Murray, Entrepreneurship: The Practice and Mindset, 2e. © SAGE Publications, 2020.

Satisfies Learning Objective B.3 Explain the content of pitch deck slides.

A strong analysis will show the audience your competitive advantage: Why or how you will outperform others.

The competitive grid analysis compares your company to significant competitors: And details their strengths and weaknesses relative to your own business.

Pricing, capacity, location, and other attributes play an important role:

Before there was iTunes, there were music stores.

Though iTunes was a great innovation, it still had competition.

The Pitch Deck (9 of 12)

Slide #9: Traction

Traction: Work done to date to build the venture.

Investors want the actions taken to construct the venture and the milestones achieved.

Includes recognition and press.

Include your future milestones: Expansion.

M. Neck, P. Neck, and Murray, Entrepreneurship: The Practice and Mindset, 2e. © SAGE Publications, 2020.

Satisfies Learning Objective B.3 Explain the content of pitch deck slides.

It’s the work you’ve done to date to build your venture: This is traction.

Investors want to see the actions you have taken to construct your venture: Your audience, especially investors, want to see this and the milestones you have achieved.

Early customer adoption and showing you have revenue

Completion of customer research

Working website

Working prototype

e. Submission of patent application

f. Formation of team

g. Product testing

h. Contracting of suppliers

i. Creation of first batch of product

Successful crowdfunding campaign (where relevant)

Securing of space

l. Securing of investment or loans

Traction includes recognition and press: If you have won pitch competitions, or been mentioned in blogs, magazines, TV shows, or other media.

You could also include your future milestones like expansion into new locations or overseas: The number of customers you intend to reach; or hiring more staff.

The Pitch Deck (10 of 12)

Slide #10: Financials

Understand potential profit and loss.

Highlight key drivers of revenue and expenses.

Show revenue projections.

Best, worst, and likely case scenarios.

For at least three years.

M. Neck, P. Neck, and Murray, Entrepreneurship: The Practice and Mindset, 2e. © SAGE Publications, 2020.

Satisfies Learning Objective B.3 Explain the content of pitch deck slides.

Have a clear understanding of potential profit and loss: Your financials need to demonstrate this.

It’s important to highlight the key drivers of revenue and expenses: But keep it at the highest levels for now.

Show revenue projections: Show at least three years of revenue projections with best, worst, and likely case scenarios. This shows investors you are trying to be realistic about projections.

The Pitch Deck (11 of 12)

Slide #11: Team

List of all team members.

Include the names of the advisory board.

M. Neck, P. Neck, and Murray, Entrepreneurship: The Practice and Mindset, 2e. © SAGE Publications, 2020.

Satisfies Learning Objective B.3 Explain the content of pitch deck slides.

List all team members: The team slide should include a list of all team members. Providing photos, their experience, and education and their role in the company.

Include the names of the advisory board: If you have an advisory board, include those names; talent attracts other talent.

The Pitch Deck (12 of 12)

Slide #12: Call to Action

Always have a call to action.

Investor: Plan to use the money.

Classmates: Feedback.

Professors: Advice.

Ask for team members with skillsets.

M. Neck, P. Neck, and Murray, Entrepreneurship: The Practice and Mindset, 2e. © SAGE Publications, 2020.

Satisfies Learning Objective B.3 Explain the content of pitch deck slides.

Who you are pitching to doesn’t matter: always have a call to action: Whether it’s a venture capitalist, an angel investor, the audience, your professor, etc.

Investors: If you are presenting to an investor, you are probably asking for money and you need to say how you plan to use the money.

Classmates: If you are pitching to classmates, you might be asking for feedback on the idea.

Professors: If you are pitching to a professor, you are asking him or her to act as an advisor.

Ask for team members with skillsets: If you need team members, ask for them, but be specific in the skillsets you are looking for.