Pitch Pool Observations

I’m going to focus on the differences between the Recombo 04 pitch and the Recombo 05 interview because, as Susan indicated, there are some really interesting evolutionary processes revealed here.  In the 04 pitch their plan showed, I think,  some typical issues associated with early business planning.  The target market was huge and multileveled (The “virtuous circle”).  The product was a complex offering of services and software which attempted to show their all encompassing position as a solutions provider.  At the surface level this market potential and thorough coverage might appear persuasive to an investor but as an EVA, it raised concerns that the plan was too broad, lacked a compelling implementation strategy and didn’t show an insightful understanding of their client’s corporate cultures.

In the Recombo 05 interview, it was very interesting to see the adjustments they had been making.  For example, he talked about redefining their mission as selling a service and not a product. In otherwords, they’ve realized their “product” was too complex and needed less “engineering” focus and more of a solutions approach.  In fact, he repeatedly commented on the need for “focus” in their 05 approach.  In terms of their approach to their target market, there was, again, this movement towards a more specific segment of their overall market.  The establishment of a single account as a “lighthouse” client, demonstrated a more strategic approach that was not evident in the 04 pitch.  And the fact that this client was a content publisher whose clients they were looking to excavate further, again, showed a major refinement of their overall approach to their market and a more tangible path to the other segments of their overall market.  With the luxury of hindsight, if the 04 pitch had contained some of these specific strategic insights that the 05 interview revealed, the 04 pitch would have appeared much more persuasive.  (Ahhh, yes, hindsight! I know it well!!)   There lots other aspects of the Recombo 04 and 05 presentations that one could discuss. This is a really interesting duet and great example of the evolution of a business model.

1 comment

1 Melissa Anders { 09.10.08 at 2:28 pm }

Hi Drew,

I would think that as a starting company there would be many changes as the years go by. If you have an initial idea, spend the time to pitch it and then get feedback, wouldn’t you want to refine the business plan to make it more appealing to investors?
My question is basically, should the changes within Recombo over the years be seen as a lack of planning and something to worry about as a potential investor or should the changes be seen as a positive attribute in that here is a company who is not so set on their product that should changes need to be made they are willing to make them?

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