Assignment 3 – Teachstreet

Hello Class,

First off I would like to apologize for posting this so late.

I dealt with one inconvenience after another!  as so many of you have as well!

I hope some of you have the opportunity to review my work.  looking forward to hearing from you,

Fetya

Recommendation for Teachstreet: http://sites.google.com/site/tsassignment3/Home

3 comments


1 Cheryl Milner { 11.25.08 at 12:03 pm }

Hi Fetya,

I was also a bit late, you can find my link under uncategorized. Let’s do a swap of one another’s work.

Cheryl


2 David Wees { 11.27.08 at 5:15 am }

Your presentation looks very interesting. The idea of combining two already good services is a good one.

Its interesting how quickly Teachstreet expanded their services. I guess there was a real need for their product.

Dave


3 fetya { 11.30.08 at 11:45 pm }

I decided to share my self-evaluation as I found this process very illuminating. I hope you can find something of interest in the following reflection!

Self-evaluation of my Executive Summary and Pitch http://sites.google.com/site/tsassignment3/Home

Although I was hoping that waiting a week and evaluating ten other pitches before thinking about mine again would help me remain unbiased, I am not sure my strategies have done the trick! I had the answers to many of the questions that might have popped up for another party reviewing my pitch. Here is my best shot at looking at this as an outsider.

My first regret is not having role-played as much as I could have. I could have experimented a lot more with this project, but rather, I was too hesitant to pretend to be someone I was not and I consequently chose to discuss the venture as an outsider.

I believe my executive summary gave a great overview of the idea at hand, while sharing the relevant links and a video for anyone requiring further information. I can imagine how, however, another party might have benefitted of more readily available facts about a future vision, financial need and return on investment.

I think the presentation was generally clear and well-paced, making use of visual aids for those who are so inclined.

I give a thorough overview of Teachstreet as it is now and how it wishes to grow. What I am essentially pitching to TeachStreet is a long-term strategy to service the world, as per its goal. I now see how the ‘Need’ I was working on might not have been clear to another party.

I defined my target audience as ‘learners and teachers across the world’. I could have been more specific in that definition and clarified that this service would benefit learners and teachers who had access to the Internet and wished to use it for educational purposes.

I described the members of the Teachstreet team, without necessarily pinpointing the members that will/should lead this endeavor. Pointing this out would have helped an evaluator get a better perception of how the implementation of a new service would have carried out.

I think I did a good job at describing “Live” Communicator’s key features and how it could enhance TeachStreet’s services.
I still believe that integrating “Live” Communicator into TeachStreet’s website is a great idea. I am not sure how I feel about feasibility at this point though. First of all, Teachstreet prides itself in promoting face-to-face interaction and community building. Taking this into consideration, it is highly possible to face a lot of resistance from the part of TeachStreet’s management at the beginning of negotiations. Secondly, TeachStreet now operates a business in which money transfer is not required. If teachers and learners are connecting across the globe, Teachstreet will have to integrate a secure payment method for both parties ( teachers paying for the “Live” Communicator service, learners paying their teachers for their instruction services.) Although in it’s current state of operation TeachStreet does not guarantee the quality of any services offered by its members, clients might hold TeachStreet accountable for incompetent teachers or teachers who simply do not do their job (as they would have been paid in advance).
In re-listening to my pitch, I see that I did not explore much with the idea of profit-making. I was hesitant to imagine big numbers and most definitely would not have impressed a real EVA with my modest numbers.

This assignment was extremely helpful in understanding how the real business world works. More so than coming up with a venture idea and making a quality pitch, evaluating it was more enlightening for me. I now understand that this is a process I should have gone through before ever ‘pitching’ my idea to the public. Also, a real venture idea should be bounced off knowledgeable people and readjusted accordingly throughout months of research and hard work.

Overall, I am very proud of my achievement and am looking forward to explore future venture ideas with my newly acquired realities.

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