Gone in 60 Seconds

I’ve worked with a number of higher-level decision makers; and have at times wondered if their directness and urgency, their push “to get to the point” was a bit of an act – a convenient persona; but after this exercise, things are changing.

 

I hear the EVA voice inside my head pushing to get the pitcher to hurry up.  It’s not that I want them to speak faster, but I want them to spend less time on material that is not relevant to my decision.  There is one question I want answered before I can devote any attention to the deeper levels of consideration and analysis.  Answer this: Does it work?  As a product, as a business, an idea, a venture – can you help me believe in this with you?

 

With that in mind – here are my bullet point re-writes that would have helped pitchers stay with them past the first 60 seconds:

 

Recombo ’04:

  • The Content Object approach to computing is changing everything – the US Department of Defense sees this as a significant new development in computing.
  • Our company builds hardware that makes this type of computing work.
  • The chairman of the board is the guy who built Lycos Terra
  • Motorola and Sun Microsystems are buying our hardware
  • We’ve just taken on a client that’s using our hardware to deliver on contracts with 800 of the Fortune 1000.

 

Recombo ‘05

  • We’ve been in business for more than three years, and we’re reaping some of the rewards of having survived the early start-up challenges.
  • We’ve just signed one of the largest companies in the publishing industry – they are switching their entire operation over to our platform – they are really excited about the advantages we’re opening up.
  • Mindleaders has a client base of approximately 700 major corporate clients.
  • Mindleaders wants to leverage their huge client base to develop new customers for our company; our agreement rewards them if their clients buy from us.

 

Ingenia

  • Our team is composed of the top E-learning developers in Canada:  I’m the director of E-Learning BC and co-chair of the National organization. We recruit experts from universities across the country.
  • Our company is doing well; we have solid contracts with a list of significant clients.
  • We have the option of expanding into Vietnam – a hub for multinationals and international banks.
  • The Vietnamese Education Sector is growing (X) times faster than the North American market.
  • Our early trips have already produced a number of contracts; we think we could take the leadership position in this market within the next 18 months.

September 13, 2008   13 Comments

Thoughts on pitch pool examples

I compared videos of Ingenia and Recombo. As an audience, I like the video of Ingenia, the presentation is concise and well structured, her plan is attractive and convinced, and also the request is rather low, only $ 100,000. Maybe ten minutes are too short, but if I were to invest, I need a more detailed plan from them.

 

The most important reason I like their presentation is that they know their problems, which is very important for the future development. When the lady said that they are not good at selling expertise in home market, I once thought they want investment to help them improve on that part. As it will be a great business to introduce educational technologies into home market or even integrate them into mobility devices. But they are right, they will face a lot of competitors in that market and in Canada, and they are not good at it. It is a good choice and strategy to utilize their advantages in a undeveloped market with great potential – Vietnam.

 

Of course there are a lot of unanswered questions in their presentation, many of them have been mentioned and discussed, like country regulations and policies, culture difference and barriers. But these problems can be solved, they need to do a good survey on their target market and hire several local experts who familiar with the government regulation and education system. From my experience, if they do it right, they will even face less challenges in these developing countries than in many developed countries.

 

On the other hand, they need to prepare to face the competitors, even there are not a lot currently. They are selling a service, not a product, so when people realize that it is a good business, they will all squeeze into the market Foreign competitors are not a big threat, but when local companies begin to show up, they only have two choices: become a local company or leave the market.

 

Most importantly, their services also need to be examined, if their ability is really as good as they said, Ingenia is really a precious investment opportunity.

 

However, regarding Recombo, maybe it’s my problem as I am not familiar with the product they try to sell, I found the presentation long and unfocused, and it is not interesting and attractive. They compared themselves with many famous companies who made big success, but I cannot find relationship between them. Whatever, I admit I don’t like the feeling that they “force” me to believe that they are the best.

 

At last I want to mention that I really like the style of their presentation, PPT slide show on one side and “face-to-face” talking on the other side, it helps me to remember and understanding and also gives me choices to either continue to listen their speech or consider the topics they just mentioned.

 

Best regards,

 

Zilong

September 13, 2008   3 Comments

Ingenia’s Business Pitch

As the director of e-learning BC and co-chair of Canadian E-learning Enterprise Alliance, Ramona (the director) leads a team of highly educated consultants and designers in her business. She exults confidence and shows that she has the expertise to back up her business by developing “guru” status and speaking in various important e-learning conferences around the world.

Ramona presents a feasible business proposal by backing up her findings with statistics presented by IDC to show that there is still continued growth in e-learning services. However, she’s honest when she speaks of the various challenges that lie ahead, including the lack of market at home and limited marketing and development funds. Taking business into Asia is a risky move, especially into developing countries like Vietnam, where one’s investment may not be protected by the government. However, Ramona turns this problem into an advantage by stating the fact that there is less competition in e-learning services in Vietnam and there’s a strong desire for education in large cities, where many young learners reside. Also, even though Ingenia is a young company, it has a strong clientele at home and is establishing its reputation and services in Indonesia and Vietnam. On top of that, Ingenia has also partnered up with an established software company in Vietnam that is funded by the government and will likely work with reputable universities that are expanding in Vietnam.

Ingenia’s Vietnam pitch is an adventurous move for the company and its investor as it will take money abroad to Vietnam. Although this investment pitch is well-prepared and the company does have a good reputation in the business, I would still like to see more detailed breakdown of how Ingenia will enter the Vietnam market. How will they research and create materials that are tailored to Vietnamese students or learners? Will language and cultural difference be a problem? How many universities or government agencies will really need e-learning services that are offered by Ingenia? In other words, how big is the e-learning services market in Vietnam and how much will it expand in the foreseeable future? What’s the perception of e-learning in Vietnam and does the government has plans to promote e-learning to the general public? These are some of the questions investors will have to consider before joining Ingenia on this Vietnam adventure.

September 13, 2008   No Comments

trying to find a comment

Can anyone tell me how to use the search function properly.

I’m trying to find a link that David V provided regarding a venture he was working on- making connections..and can not figure out who to search for it.

thanks in advance.

Katherine Lithgow

September 13, 2008   3 Comments