I have put all of my work together at ht…
I have put all of my work together at http://www.mrmckinnon.com/ossltonthego1.
The elevator pitch is on the first page and the subsequent webpages flesh out the venture.
For those of you that are not familiar with Ontario’s curriculum, all students in Grade 10 must write the Ontario Secondary School Literacy Test (OSSLT). It is written in March/April and the students must be successful on it in order to graduate from high school. The test has been administered since 2002.
Jody
Posted in: Venture Forum
dmcinnes 12:33 am on July 31, 2012 Permalink | Log in to Reply
Great job Jody!
I thought your pitches were clear, concise, engaging and realistic. Both appeared well researched very professional. I had some questions about “assigned teachers” to provide feedback. Is that something that already exists, or a service your company would provide?
At this point, I’d be a little on the fence, but might be willing to invest. Well done!
David McInnes
Jody McKinnon 4:23 am on July 31, 2012 Permalink | Log in to Reply
Hi there. Thanks for your comments. IN many schools, a teacher or group of teachers has the responsibility for preparing students for the test. In my school, it has been the core English teacher. So in this case, he/she would be the ‘assigned’ teacher. This way no teacher is responsible for no more than 22 students (the class size cap for Applied courses in my board). I hope this clarifies it for you. Thanks!
Yves Mainville 10:47 am on July 31, 2012 Permalink | Log in to Reply
Yes, I would invest.
Your presentation was dynamic and engaging and pretty much grapped you by the eyeballs from the start. 🙂
I much enjoyed the format of your presentation – simple to navigate, concise and to the point. I would like to hear more about the market expectations and before actually signing on the dotted line, would like to hear more about motives behind the users (as it is the MEO that wants high grades in this case, and not necessarily the students, no?).
regardless, this holds potential for me.
well done.
Yves Mainville 10:47 am on July 31, 2012 Permalink | Log in to Reply
errr, ‘grabbed’. 🙂
Brian H 11:11 am on July 31, 2012 Permalink | Log in to Reply
Jody,
Jody,
I really like the app and service but I would not invest under the current fee structure. If all approx. 900 Ontario High Schools purchased a licence for $50 you would have a total revenue of $45 000 minus app store and processing fees. You would have to bank that a major amount of parents would purchase this app at $5 price point.
I would be interested in this venture if the app could be sold directly to the Ministry to provide the services to all stakeholders free of costs. Otherwise, the market is too small to cover the overhead costs to properly deliver the services promised (staff, hardware, network, development, support ect.)
Thanks,
Brian Hotovy
Jody McKinnon 12:32 pm on July 31, 2012 Permalink | Log in to Reply
Thanks for your comments. The purpose of this app was to not make money. The fee was nominal on purpose. If this were a real venture, my hope is that the government would have invested in it and provided the differences in costs.
Ronna Hoglund 11:47 am on July 31, 2012 Permalink | Log in to Reply
Hi Jody,
Thank you for sharing your elevator pitch with me. I do think that you presented a compelling pitch, however, as a parent of a 17 y/o boy in the Ontario public school system, I would be very grumpy having to purchase “extra” help in any format for him to succeed. That said, my children (I also have a 19y/o daughter) were both successful with the test and I am sure there are other parents and teens who might appreciate it.
Ronna
Jody McKinnon 12:33 pm on July 31, 2012 Permalink | Log in to Reply
I hear that Ronna. IN theory, if this were a real app and the province paid for it, parents would pay nothing. Because in theory, this app is free for the user…only more if the parents want to receive the reports and controls.. Thanks for your comments.
shawn harris 11:50 am on July 31, 2012 Permalink | Log in to Reply
Hi Jody,
Great job on your pitch!
I think that your focus on this new educational app to help risk learners is very fitting for the current educational technology market! I would surely invest. This is certainly an area with potential for growth in the next several years not just in Ontario but in the Caribbean and other developing countries. I thought that the tone of your pitch was very professional, clear and to the point. This venture seems convincing compared to others I might add.
I think “No student should be left behind” could be your company’s slogan. What do you think?
Jody I notice you did not talk about the global market or did I missed that? Is this new app only for Ontario? Are you planning to go global? We have literacy exams here in the Caribbean too. Your team seems credibility and look highly spirited.
By the way, loved the video about you receiving the Olympic Torch in Dec 06. That must have been an awesome experience. Thanks for sharing with us!
Overall, I do think your venture has a good market that is increasingly growing overtime. You have provided a detailed venture pitch with information about the market and the product. The concept is a good one… again, thanks for sharing it with us and all the best!
~ Shawn
Jody McKinnon 12:34 pm on July 31, 2012 Permalink | Log in to Reply
Thanks for your comments. My market is local and I have no interest in going global at this time. I don’t know much or anything about the structure of tests around the world, However, if this were a real venture and it worked well here, it could easily be adapted for export to other jurisdictions. Thanks!
Colin 8:00 pm on July 31, 2012 Permalink | Log in to Reply
Hi Jody. Your presentation was clear, concise, and captivating. I like the concept of this venture, using technology and motivation to engage at risk learners. However, I’m slightly concerned with your target market size: Of the 147,000 eligible students, 24,000 failed. 14,880 (62%) are at-risk boys. About only 11,160 are at-risk boys with technology. Not all of them will use the application even if the product is available for free. This is a small niche market. As a teacher, I would definitely purchase one for my school at this price point. However, as an investor, I think you undervalued your product and I recommend increasing the price. As a non-profit investor, why not provide the service for free (and get good tax breaks)?
Colin
Jody McKinnon 8:10 pm on July 31, 2012 Permalink | Log in to Reply
Hi Colin. Thanks for your response. You are correct in that it is a niche market and that is what I wanted all along to begin. Should it prove worthwhile in the real world, it could easily be available for all learners preparing for the test. I had thought about the tax break thing for investing, but I wasn’t sure about how that would work or if it would be realistic or legal. I’m not a marketing expert, entrepreneur or a business person. I’m just an English teacher that wants to see boys be more successful on the literacy test. Thanks again!
Hussain Luaibi 10:55 pm on July 31, 2012 Permalink | Log in to Reply
Jody
Neat work! Everything was done nicely. I think your venture will find its place in the market easily especially you mentioned that you prefer it to be in the local market. With the statistics you provided in regard to failing percentage of the exam takers specifically among boys, I presume the market welcomes such education-oriented business initiative because it is simply needed. What helps here is the fact that it is a unique attempt.
However there is one thing that makes me a bit hesitant which is the profit. You are driving at moving the investors to put their capitals in such a project but you don’t promise them with a good financial repay. Jody, you are addressing and dealing with investors not philanthropists!
Good job!
Hussain
Jody McKinnon 3:47 am on August 1, 2012 Permalink | Log in to Reply
Hi Hussain. Thanks for your comments. The purpose of my venture was never to make a profit. You’ll notice that I’ve positioned this as a way to fit a corporate social responsibility model…i.e. a way for the company to give something back to the community. Thanks again!
Dave Horn 11:39 am on August 1, 2012 Permalink | Log in to Reply
Hi Jody
I thought this was a very well done venture both in presentation and in concept. You were very clear in you elevator pitch and I think that you have hit on a market which does exist. Working in a school with students who are often disengaged and who struggle to study I could see the use for a mobile review tool with extrinsic rewards. I know in BC there is a slow removal of some of the standardized testing and I wonder how this trend could affect the OSST?
As an investor I would be interested in seeing the full venture plan and implementation scheme, as even if the OSST were to be removed this tool could be adapted for other testing needs.
Very well done
Dave
mariefrancehetu 7:17 pm on August 1, 2012 Permalink | Log in to Reply
Hello Jody,
I was impressed with both your elevator pitch and venture pitch. Both looked quite professional and offered a good balance of visuals and text. As CEO you inspired me confidence that you know your stuff.
Your venture pitch and entire website was well researched and you really covered all possible questions a possible investor might have. Just one little thing, some of your lines on your web site overlap near the bottom and make it difficult to decipher those last few lines. Otherwise the whole look of the web site is appealing and as an investor I would certainly consider investing in your venture!
Congrats on your hard work . . . it really paid off!
Marie-France
Sherman Lee 12:26 am on August 2, 2012 Permalink | Log in to Reply
Hello Jody,
Just as an aside, I can see your care for your students through your venture, and I think that is a great thing as an instructor myself. Putting my investor cap back on, your OSSLT on the go has potential. Your elevator and venture pitches were effective. The elevator pitch was efficient and effective. One personal pet-peeve of mine is dragged on and slow-paced elevator pitches. I see them almost like a commercial for investors – too slow and you killed the budding interest. Your venture pitch was well presented, and has your elevator pitch nicely embedded in it for easy referral. Overall, it was a great job!
CEO & Team: You left the best till last. I think you had a great structure that you introduced what your product was attempting to address and how it brings value to investors before reinforcing that trust with the introduction of you as the CEO and your highly capable team. By doing so, you gave a reason for me to remember you and your team by!
Venture Concept: I think this is a plausible concept. Being very familiar with the tutoring industry, I know how product that is driven by a standardized exam could draw a lot of interest. This is not only interest coming from the students, but more so from the parents. And what’s better than an app that you can easily take anywhere with you. This definitely beat those phone-book size study guides!
Marketability: I like it that the users get to use this for free. It is often easier to manage by schools if the students don’t have to pay. That is a big draw in for this market. Do you have any plans on expanding your market beyond who you have identified? I see that the at risk and also the re-write as more of a niche market. Since this standardized exam is for Ontario, I can see that it is of your best interest to reach as much of Ontario as you can. Another suggestion would be a global market. Yes… although your product was created for a niche, it doesn’t need to stay in it. Again, from my tutoring experience, there are parents who are thinking of immigrating to Ontario who might be interested in this as well. This would, of course, be a great marketing feat to reach deeper into the immigration population. There’s lots of potential, so make sure you plan things out!
Venture Plan: I would like to know a bit more about your plans for kick-off. How are you going to promote this product? What is your plan for dominating the market and keeping your product unique?
With such a great pitch, I would like to invest in your venture. Prior to committing a solid amount, I would like to further discuss with you in regards to the OSSLT on the go business model and marketing plans.
Thank you and great job!
Sherman
Kenton Hemsing 8:13 am on August 2, 2012 Permalink | Log in to Reply
Hi Jody,
I would invest for the greater good of the students, the ask is not much and the outcome makes it worthy of an initial investment. However, I do have a concern and that is with the government’s reaction to more students being successful on the exams, will they respond by increasing the standards and making the exam harder if future sessions? I know that some provincial exams I have had experience in administering have a set expectation that a certain percentage of students fail.
I think that a venture like this could also be expanded to include apps for other provincial or standardized exams, (I am not very familiar with the Ontario system), but in Alberta something like this would be useful for all other provincial achievement and diploma exams.
You pitch is excellent and very well constructed. Great work.
Kenton
Jody McKinnon 1:54 pm on August 2, 2012 Permalink | Log in to Reply
Greetings all from Iceland..I”m still up after 36 hours, so I apologize if this post isn’t that coherent. Thanks for all of your comments since yesterday. I appreciate the feedback and do see that something like this could work in not only Ontario, but abroad. Re: the test getting easier? I’m not sure I buy that, but there will always be kids that don’t pass. We just need to make that a lower number. Anyway thanks again for all the excellent feedback. I’m not likely to post again. A pleasure working with y’all!
mackenzie 4:56 pm on August 2, 2012 Permalink | Log in to Reply
Great job! You presented the problem well and introduced the solution clearly. Your visuals enhanced the message I was intrigued to know more about your product. I would not invest in your product since I am not a big believer in teaching to a test, sorry. Great presentation though.