Hey all, Lets try this again. I a…
Hey all,
Lets try this again. I accidentally posted the original to the ‘uncategorized’ section. I also just added a googledoc feature for my paper instead of embedding the whole thing in this message.
Anyways, the youtube link to my elevator pitch is as follows:
https://www.youtube.com/watch?v=fXBKx-t77n4
And the googledoc link to my written venture pitch is here:
https://docs.google.com/document/d/1ixKVLKCVAyHfV2EiAsN_A7GaG5FXCbNxrqOLdggwR-M/edit
Please let me know if any of these links do not work properly.
My venture concerns changing an existing company, Sylvan Tutoring, in order to make the tutoring more personalized for its current and future users. One main way my venture suggests doing this is by allowing students to choose their own tutor for each session while also decreasing the size of each tutoring group to just one student. Making this experience more personalized will result in greater student results as well as increased use of the Sylvan service, and therefore more revenue for the existing company.
Thanks so much.
-Regen
Posted in: Venture Forum
Jody McKinnon 3:47 pm on July 30, 2012 Permalink | Log in to Reply
Hi. I tried to watch your video but it was listed as private 🙁
Deborah S 6:36 pm on July 30, 2012 Permalink | Log in to Reply
Hi Regen,
I enjoyed your video and thought you communicated the benefits of the venture very clearly.
This is an interesting concept, but I have some reservations about how successful it might be. As you identified, there is no doubt that more tutors would be required in your venture as tutoring will now be individual. Before making an investment, I would like more specific information on the current amount charged per student, and how you envision this would change when the new model is implemented. I presume the cost would have to increase. I also wonder how receptive the tutors would be to taking on additional responsibilities such as scheduling, and how they would react to being idle for periods of time without being paid. I think you might lose many of your current tutors.
In terms of marketing, you did a good job of identifying how you would spread the word within your current client base, but I would have liked some information as to how you plan to advertise to attract new clients.
Deborah
unclereg 8:40 pm on July 30, 2012 Permalink | Log in to Reply
Hey Jody and company,
I just changed the video to be public. Sorry about this.
It’s viewable now. Thanks for your patience.
-Regen
dmcinnes 11:26 pm on July 30, 2012 Permalink | Log in to Reply
Regen,
Thanks for sharing your pitches. Your Elevator Pitch was clear and concise. I liked your concept. Obviously it makes a lot of sense in terms of the benefits to the kids. I have my doubts about the viability though. I imagine Sylvan would have crunched the numbers. If they are going from groups of 3/tutor down to 1:1 they are going to loose significant revenue. I know that your argument suggested that would be short-term, but I wonder also about how many good tutors might find themselves out of work because they are too challenging, or don’t fit the image that the student was looking for. As a teacher, I know it is easy to become well liked, but that doesn’t make you a good educator. In a perfect world, where money is no object it would be great to see one on one, were the tutors are well liked and respected, but I am too skeptical.
I’m going to reserve my investment at this point to see the numbers on perhaps another tutoring service that does one to one.
David
Danielle 4:23 am on August 1, 2012 Permalink | Log in to Reply
Hi Regen,
I think you have some excellent ideas on how to better serve the needs of students requiring additional support outside of the classroom. This is a great market to tap into because there are always going to be students who need this kind of support.
Before I would invest in a such a venture, I would like a few more details about the platform being used and how Sylvan differentiates itself from the competition. I think it is also important for investors to know more about who in behind the success of a company. Confidence in a company’s management credentials and experience will improve chances of investment. I would also require a little more information on the return on investment. It might be an idea to offer the choice of tutors for premium account users in order to determine the viability of such a fundamental change in how Sylvan offers its services. This may also help prevent losses upfront.
Overall, this is a great pitch and a very worthwhile venture. But I would require more information before making an investment.
Danielle
kimnoel 12:00 pm on August 1, 2012 Permalink | Log in to Reply
Hi Regen,
I enjoyed your pitch – thought is was very smooth, concise, and your concept is certainly one which many students (and parents) would be very drawn to.
There would be a number of areas which I, as an investor, would require more information. I would like to know a little more about the foundation/management of the company, as well as what the pricing structure would be should this be implemented. Would this be more of a premium service, for which student/parents would pay? or would there still be a 3:1 students to tutor package available?
Overall, I think your idea is great, as there will always be students who require extra support, and the idea of 1:1 certainly falls within the whole concept of differentiated instruction.
Well done!
Smiles, Kim
Dennis Pratt 8:40 pm on August 1, 2012 Permalink | Log in to Reply
Regen;
As one who knows very little about the tutoring world I think you have a good idea here. My main concern, however, is the cost and if it will make the company more money. I am sure it would benefit students but will it make money? I don’t know the Sylvan Learning system but I assume these small groups are ideal in that students can learn from each other and a tutor is not just watching one student complete their assignments. For some reason in my mind a one-on-one situation would usually be best, especially if is with a tutor you get along with and can learn from.
I am interested to hear what management from Sylvan Learning would say about the venture and if they are open to it being an option for their students.
Dennis
unclereg 7:33 am on August 2, 2012 Permalink | Log in to Reply
Hey all,
Thanks for the responses thus far.
David – It is true that a well-liked teacher does not make that teacher good. Well said. I wasn’t thinking at the time about this, and now agree that this notion could become problematic.
Danielle – For the future I was thinking that if Sylvan could recruits teachers from local schools to become tutors then that aspect could differentiate themselves from other tutoring services. But looked at in general, there is really nothing differentiating it from other services besides the change to make the tutoring more personal by allowing students more choice as to how their experience will unfold.
Kim – You bring up some good questions for thought. Yes, there would still be 1:3 tutoring available, 1:1 just gives students more options on the way to making their learning experience more enjoyable/educational.
Dennis – Yes Sylvan would probably initially be hesitant with this idea, though it could stand to help them differentiate themselves from the competition and create a more lucrative business plan for the future. Differentiating, and personalizing the experience is the only justification for eventually charging more for tutoring rates and therefore making more money over time.
Thanks again all for the responses.
-Regen
troos 12:56 pm on August 2, 2012 Permalink | Log in to Reply
Hello Regan:
You present a venture as an addition to an existing company and this makes it difficult to define the various aspects of the venture as they are mainly tied to this existing company. This also makes it difficult to convince new investors to believe you need funding for your proposal. You do a great job explaining and justifying the value and usefulness of this venture. You speak clearly and provide personal presence in your elevator pitch. I would like to know a little more about the number of clients you expect to add to Sylvan through this proposal as well as some revenue projections of existing and predicted new business.
Tim
Bridget 5:45 pm on August 2, 2012 Permalink | Log in to Reply
Hi Regen,
Thank you for sharing your pitches and after reviewing your elevator pitch I have the follow comments.
I do not know much about Sylvan Tutoring but I assume that it is a face-to-face tutoring system since that is what the pictures indicate. You make a solid case for enabling students to hand select their tutors but it is not clear from the elevator pitch as to why this would require extra monetary investment. I wonder why they do not have a 1:1 system at the present and could it be that they want to promote small group learning? I think that it would be interesting for Sylvan to offer an on online tutoring service, which can work with the busy and varied schedules of youths today.
Technically speaking there are a couple of items in the presentation which I find distracting. First, the Ken Burns effect of zooming and panning often cut off parts of the pictures, Secondly, while wearing the shirt/tie was a great professional looking idea, I would have liked to have seen the buttons fastened etc. I work in a school where the students wear ties and button-down shirts so I might be more attuned to this.
Bridget
sheza 7:08 pm on August 4, 2012 Permalink | Log in to Reply
Hi Regen,
Your Elevator Pitch was more of a sales pitch for why someone should be interested in this service from Sylvan rather than a pitch directed to investors. It was also quite difficult to hear as the volume on your video was quite low.
Also, I don’t see the educational technology edge to your venture? As an investor I wouldn’t have been compelled to read onto your Venture Pitch, and even though I did I did not find answers to such questions as the ask, market share, ROI, or information on your CEO and Team. I understand that this venture would be an offshoot of the Sylvan chain but some consideration should have been given to these points to successfully complete the requirements of your Venture Pitch.
toddpowell 10:23 pm on August 5, 2012 Permalink | Log in to Reply
Regan,
This is a very interesting venture, and one that you did a very good job in introducing and developing. Interestingly enough, I am actually a past Sylvan tutor, so your ideas have highlighted many of the issues that I had with the program (even while I was sitting there working with students). Also, my brother-in-law is a sylvan kid (from many years ago), so I also know how much money is crammed into that system. My hesitancy is that, if the ratio was to drop to 1:1, or even 2:1, then the bottom line for financial income will decrease. Also, I worked with some good tutors who the kids didn’t necessarily like, and others who were horrible and the kids loved. Another fear is the favourite card!
You have a great idea, but I think that it could be much stronger is hashed out a little more.
Cheers,
Todd