Cathy’s Elevator Pitch
Online Towing Simulation Tool
For over 100 years, the Canadian Automobile Association (CAA) has been helping the motoring public. Emergency Road Service or towing has become the corner stone of our organization. Our Online Towing Simulation Tool is unique and addresses the daily scenarios tow truck drivers’ face.
Simulations have been used successfully in a number of fields such as aviation and medicine. Which begs the question, why not for the towing industry which presents equal risks?
Tow truck drivers are exposed to hazards often working in dangerous conditions – on the highway, in ditches and with heavy equipment. Adverse weather conditions further complicate this as rain, snow and fog increase the danger of each tow call. Through the Simulation Tool, such conditions can be explored in a risk free environment eliminating physical injury or property damage. By providing an immersive experience tow truck drivers can practice, hone skills, gain confidence and continuously learn.
My full venture pitch is found on You Tube, see below.
26 comments
1 Ian Doktor { 11.30.09 at 6:49 pm }
Hi Cathy,
This sounds like it would be an interesting pitch for tow truck drivers, but since I’m not I had a tough time really appreciating it. The software sounds great. The only thing I’m wondering is if there are enough tow truck drivers that would pay for this software? You probably know that better than me, so I’ll assume the answer is yes….
2 Sharon Hann { 11.30.09 at 7:22 pm }
I too am having trouble relating to this need. I don’t like tow truck drivers much either. 🙂 If there is an industry need then these types of training modules can be very lucrative. Since it tends to be male dominated I would hope there would be some competition element to it as that seems to be a great motivator. If you could sell a large customer like BCAA then the rest should fall in line nicely. Good pitch. Sharon
3 Cari Wilson { 11.30.09 at 9:29 pm }
Hi Cathy,
I think this an interesting venture and can see the need for such an application. As someone who has stood at the top of an extremely steep , dark driveway watching the tow truck driver try to winch my mother’s car up the rainy wet embankment it had gone over, I can imagine all too well all the dangers involved in the job! (Okay, who knew that if you forgot to put the emergency brake on and left the car in neutral while you got out to move the lawn mower that your brother had left in the wrong place, the car might begin to roll backwards down the driveway and then speed up at an alarming pace until all you could see are the headlights pointing straight up into the rain as the car knocked over a 40 foot tall fir tree!)
If the goal was to stay strictly in Ontario, then I’m not sure how profitable this venture would be, in the long run. If however, you were able, with some modifications allowing for different laws, etc., to market this to tow truck drivers throughout North America, then I think there is good potential. Who knows? You might even be able to cross over and create a Wii game for the rest of us! “Tow Truck Tangle”!!
Cari
4 Jay Dixon { 12.01.09 at 7:51 pm }
Hi Cathy,
Good idea. I would of never thought about tow truck driver safety and programs like this. Very original! Here is my review/notes:
The powerpoint is clear and concise.
Provided informational background
Promoted reputation and experience
Focused on safety (can it be used outside of ONT?)
PowerPoint is nice and detailed
I learned a great deal about tow truck drivers!
It reminded me of the truck driver simulator I’ve seen.
Focused on reputation to provide consumer confidence.
Compared competitors and clearly explain the gap in the market
Compared other markets
Explained the cost which were reasonable
This is a very professional and well done presentation Cathy my only recommendation is to provide a stronger “hook” at the beginning to bring in the audience.
Good work.
5 jennie wong { 12.01.09 at 8:09 pm }
Cathy Jung’s Pitch Review
Cathy Jung’s elevator pitch on tow truck stimulation tool was excellent. I was interested for the very reason that I live in an environment in which tow trucks are widely used and we have harsh weather conditions. Jung’s elevator pitch was not lengthy as it turned out to be 149 words. In the actual pitch, Cathy has provided a clear and complete coverage of her product. She has made an excellent video which is pleasant to view as the audience can follow along. Jung not only provides the information that is written on the video but she also adds includes more information. Therefore, she isn’t just reading only from the displayed text. The graphics used matched the topic nicely. The video’s timing and speed are excellent. Cathy also provides an executive summary, critical EVA and a self evaluation. She provides a thorough explanation of how the product would work and why there would be such a need. It is an excellent pitch. I would give Cathy a mark which is over 85%.
Jen
6 Amy Frank { 12.01.09 at 9:40 pm }
Hi Cathy,
Great idea, and I agree, why shouldn’t there be simulations for tow truck drivers. This would be especially relevant in Calgary, where I live. Tow truck drivers are busy this time of year. I really liked how clear and clean you presentation was. It was very easy to watch and listen to.
Here is my review:
Team: The team consists of SME’s and Instructional Designers. The pitch does not state how many or who these people are. In my opinion, having the tow truck drivers’ input is completely invaluable and will create a more solid project.
Competition: Wreckmaster, which is not endorsed by Ministry of Transport, lacking a simulation, and is expensive. I looked up the company, and they are based out of the USA. Does the information supplied even compete with the information you are proposing? Does Wreckmaster produce training used in Canada?
Technological Innovation: The concept of simulation is not new, but seems to be new in tow truck driver training. There are many examples of the various groups that currently use simulations.
Market Readiness: The customers of this product are the tow truck drivers and CAA. I would be interested in understanding more about how tow truck drivers are currently training for their jobs. Are they currently using online modules? What about infrastructure? Are computers available for staff?
As Ian mentioned, how many tow truck drivers would there need to be to make this product worthwhile? Would you expand this product to US markets as well? What about adapting it for international markets?
Overall Investment Status: Although, I find the evidence supporting simulation and games in education lacking, I do believe in using these. In fact, in tow truck driving, I am sure it is near impossible to create all of the various conditions a driver might experience without simulation. Considering the risk involved in this type of job, I can definitely see a need for this type of training. As well, employers of tow truck drivers might see this type of product a way to reduce liability and alleviate costs associated with accidents and insurance. As well, with support of the Ministry of Transport, the pitch has even more reliability. I am sold.
7 Tony D { 12.01.09 at 10:37 pm }
Hi Cathy,
very interesting idea, I was drawn to review your pitch as it looked like a venture that stood out to me as I never had given much thought to the idea of tow truck driver training. Indeed you do a very good job of identifying the need for improving the training of tow truck drivers in your presentation, by mentioning things I had not considered previously. I like the fact that the program will have ministry of transportation approval definitely important to create an accredited application. You identify your major competition well and explain how your program will be superior to theirs specifically yours will be accredited by the ministry of transportation while theirs is offered at a very high cost. The idea of using a simulation for educational purposes excites me as I believe they are excellent training tools.
My concerns with the pitch include the costs involved in the production of the training tool. You mention little about the specifics regarding the time it takes to bring the tool to market and the costs involved. These are very important to mention to a potential investor as if they are private individuals they will most likely be expecting a ROI in the future and I would be interested in seeing a plan on how that will be carried out. Considering you mention the costs are minimal how will revenue be generated, my quick assumption is that CAA drivers will be given this simulation free of charge and other towing companies will be the ones who pay the minimal fees per driver. My suggestions would include somehow initiating the Ministry of Transportation to implement it mandatory to complete the online simulation, that way you can be guaranteed revenue from other outside towing companies.
I agree as you mention some stats on incidences involving towing would strengthen your points. Numbers would make the situation seem more real to me and due to the lack of them…. I’m out.
8 Iris Chan { 12.02.09 at 4:57 am }
Cathy,
Your pitch for tow truck simulations is something I have never even considered before when i think of simulations. Your “hook” at mentioning simulations for the other more common occupations is very true. Why not have simulations for an occupation that shares similar risks and barriers? Very insightful and definitely innovative. I will be interested to see what reactions tow truck drivers would have to this technology. Would they embrace this type of training?
9 Eveline Yu { 12.02.09 at 5:45 am }
Cathy – this is an innovative idea and worth pursuing. It is an interesting angle in training tow truck drivers – and yes, if someone happened to tow my car, I would want them to be trained…
I am wondering how closely the simulation will be with the actual physicality of towing the real car… would your simulation have all the equipments as well (steering wheels, brakes, etc.)? Would the simulation be just an online game or would it be an actual truck with a big screen with realistic scenes… Now I’m curious to watch the longer venture pitch. Yes, I’m hooked. I’ll be coming back with more comments. Great work!
10 Marjorie del Mundo { 12.02.09 at 8:12 am }
Cathy, The idea of the tow truck simulation is innovative and unique and should be something necessary for a high-risk job. I also have the same question as others and wonder how many tow truck drivers would be needed to make this work and is there a high demand for this program? I am guessing that the other fields you mentioned have higher numbers of employees, which is what makes simulations more worthwhile for those industries. Like Eveline, I am also curious to know what the actual simulation would look like. It would be great if there was an actual truck and the big screen as she mentioned. I think it is good that the Ministry of Transportation is backing up this type of project since it shows a commitment to vehicle and personal safety. Thank you for this presentation!
11 Erica T { 12.02.09 at 10:33 pm }
This is a very high quality presentation. I think your offering is very viable as most city or district employees that operate machinery (including district pick up trucks) have to complete some kind of safety training wrt driving. Organizations ARE currently looking to driving simulation training programs. Great job!
12 Cathy Jung { 12.03.09 at 7:24 pm }
Hi Ian,
In regards to your question, I do not have a number of how many tow truck drivers there are that would pay for this software. However, just to give you an idea, in the Greater Toronto, CAA has 700 drivers and we do have plenty of competition from other towing firms. If we added in all CAA drivers Ontario wide and provincial wide competitors, I think the number would significantly increase. Now, whether the tow truck firms would pay…I suspect they would as damages from improper tows are quite costly…a damaged oil pan, broken window or scrapped bumper would quickly overshadow the cost of the program. As I mentioned at the end of my presentation in my self analysis, I did not have these full statistics on the number of drivers or damages, thus felt it was better to leave it out rather than include partial data.
Thanks for your feedback,
Cathy
13 Cathy Jung { 12.03.09 at 7:27 pm }
Hi Sharon,
I hear what you are saying…tow truck drivers aren’t very well liked. They have a reputation as “vultures” or “chasers”. Definitely a challenge the industry faces in terms of public perception. The idea would be the pitch to Ontario first, gain a good market share and revenue and then go Canada wide and definitely partner with BCAA as you mention.
Cathy
14 Cathy Jung { 12.03.09 at 7:31 pm }
Hi Cari,
Thanks for sharing your tow experience. See my response above to Sharon regarding expanding beyond Ontario in the future. Love the idea of a Wii game, sounds like fun…want to partner in a joint venture pitch with me to Nintendo???? 🙂
Cathy
15 Cathy Jung { 12.03.09 at 7:34 pm }
Hi Jay,
Thanks for kind feedback; I’m happy to hear you liked my pitch. In terms of a stronger hook to bring them in, I thought the elevator pitch would be viewed first and then if the EVA was interested he/she would view the full pitch immediately following…however, perhaps this isn’t how it works in the real world of Venture Pitches, so I should have hooked them in again sooner in my full pitch….good idea!
Cathy
16 Cathy Jung { 12.03.09 at 7:41 pm }
Hi Jennie,
Thanks so much for your glowing feedback. I must admit I’m surprised you counted the words in my elevator pitch, but secretly glad because I struggled and edited to get it down to within the word count and am glad my efforts did not go unnoticed! I appreciate your grading of 85%+; hopefully David will also be as generous 🙂
Cathy
17 Cathy Jung { 12.03.09 at 7:46 pm }
Hi Amy,
Thanks for your comprehensive review of my pitch. We are currently using some online modules for CAA tow truck drivers, however I cannot comment on whether other towing firms would. I suspect those that each of the owners of these tow firms would have a central office with computer access that the drivers could use. I’ve commented above in my response to Sharon about expanding out to Canada once Ontario was well under way, this would likely require changes due to legislation in the provinces and to expand to the US or international as you suggest would be nice, but likely require much research in advance.
Cathy
18 Cathy Jung { 12.03.09 at 7:53 pm }
Hi Tony,
I appreciate your feedback and pointing out areas that could have made my pitch stronger. It is always hard to balance what to leave in and what to take out when you have a time constraint of 12 minutes, and although I didn’t use the full allotted time I felt keeping it short of that was prudent in order not to totally overwhelm or lose the audience’s attention. However, I see how your comments would add to a stronger pitch and perhaps the whole idea is to take all the time you can get with from the EVA and not leave any of it on the table. I particularly like your idea of asking the MTO to make it mandatory in order to guarantee revenue. Please see my reply above to Ian in regards to the inclusion of statistics.
Cathy
19 Cathy Jung { 12.03.09 at 7:59 pm }
Hi Iris,
In terms of whether simulations would be embraced, I think the tow drivers would embrace it. (Someone’s else pitch mentions statistics on men vs women and gaming, which favoured men). However, it would need to be very authentic and not seen as a game. It would have to be marketed as a serious simulation and focus on the safety aspect.
Cathy
20 Cathy Jung { 12.03.09 at 8:03 pm }
Hi Eveline,
I envision the simulation would mimic real life as much as possible, where it would have as having all the parts of a tow truck (eg: you’d open the door, walk to the back of the tow truck, raise the boom, take the cables out of the cab etc…) and would have realistic scenes such as car in a ditch or with a blown out tire etc. I’m sure this would add to the complexity of the simulation development and graphics, but why not aim high!
Cathy
21 Cathy Jung { 12.03.09 at 8:07 pm }
Hi Marjorie,
Thanks for your comment Marjorie. Towing is a very high risk job and when I’ve job shadowed tow truck drivers and sit in on their field training I find myself often cringing at how often they put themselves in situations that have the potential for great danger. See my reply to Eveline about how I envision the simulation would look like.
Cathy
22 Cathy Jung { 12.03.09 at 8:09 pm }
Hi Erica,
Thanks for your kind words and supporting my view that this is a needed venture!
Cathy
23 Colin Cheng { 12.04.09 at 2:51 pm }
Cathy,
Thank you for taking the time to pitch you business venture. From my understanding of the assignment, I am now to decide solely from your elevator pitch, whether this is a venture that I would like to delve further into. As I only have three out of ten proposals to select from, it is unfortunate that I will have to pass on this venture for the following reasons:
* although I am not a tow truck driver, I was able to both understand and appreciate the need for your venture. However, as others have stated, I was not convinced that this market was large enough to make this product profitable
* your write-up is comprehensive; however, I felt that use of visuals might have made it more interesting and appealing
24 dockat { 12.04.09 at 5:46 pm }
Hi Cathy,
Viewed the elevator intro, then went for the full pitch, and I will put in a full report here as with qualifications and clarifications, I would take this forward as an EVA:
Cubed Cathy Jung Online Towing Sim
1. Market focus: Cathy’s pitch provided a sense of the market, which as long as it was expanded well outside of Ontario would be a large enough one to provide opportunity for ROI. This was not clear in the pitch, but since CAA is affiliated with the much larger AAA, one could potentially view North American Tow Truck Drivers as the market—this would make sense. Her note that she needs to start smaller in Ontario makes good sense–a pilot by the sounds of it.
2. Types of offerings: Cathy’s project made it clear that the product was a specific modular online learning sim program which could be justified as inadequately trained drivers would put themselves their clients and others on the road at risk if inappropriately trained.
3. Who is the buyer: CAA/AAA would be obvious choices though she did not really delve into the numbers or scope specifically, or whether the same program could be re-tooled to make it relevant to other similar markets. What was the gap that needed filling which she is addressing? Safe alternative to live training—good hole to fill.
4. Global markets: This is not really covered in the pitch
5. Development of Market: Cathy presented a situation where the market is already in place because this is a workplace training product. Another student comment about making it mandatory would really strengthen the proposal!
6. Competition—works with others, substitutes for, competes with: This project was posed as adjunctive to the other training methods, which makes good sense.
I would be willing to invest due to solidity of CAA’s solid reputation, if assured the market was indeed North America and not just Ontario, and be reassured that the ROI timeline was defined in advance.
25 Eveline Yu { 12.05.09 at 12:43 am }
Cube:
Online Towing Simulation Tool
Market Focus: tow truck drivers in the CAA.
I also agree with the previous comment that if the target market is North America – with the same regulations, etc., it would be better. Cathy mentioned that the launch will begin in Ontario and tested as pilot? – which is fair.
Types of Offerings:
I’m not convinced about the simulation idea of this training – perhaps I need to see a visual or a demo of this in action. I am wondering what kind of console would be used for this game. I can see some entertainment value in producing this just as a game – as in other flight simulations where the player has to practice take-offs and landing. The tow truck game could also provide many scenarios inside the game. However, I’m wondering how realistic it will be. Other games have an actual steering wheel for players to hold onto while playing. I’m wondering if the simulation can be along the lines as this: http://www.codinghorror.com/blog/archives/001030.html
Then, maybe I’ll be more willing to invest. You could add the weather conditions, road conditions, and safety issues you mentioned into the program and have it projected onto the screens.
I like the idea that the venture will be supported – and as an investor, I feel safer if the idea is backed up by reliable people at the ministry of transportation.
Global Market:
As making a serious game, especially with complicated graphics, it might be worthwhile to pitch the game globally as well? There was no mention of global market in this presentation.
Development of the Market:
As mentioned in the previous posts, if this simulation can be part of a mandatory training, then it would be a great investment.
Learning Technology:
As part of an additional part of the already in place training program, this simulation works well to extend knowledge of tow truck drivers. I really like the fact that Cathy included subject matter experts – who have over 15 years of experience; as well input from tow truck drivers. I agree with Cathy that safety is important – and if this simulation can greatly reduce risks – then that would be great.
Additional Comments:
The pitch was clear, easy to understand and very informative. A demonstration of how this would work can strengthen my willingness to invest. As well, a proposal of how this product can be marketed to places other than just Ontario is also preferable. If this can be done, then I’m in. I like this pitch and I think there is potential.
26 Liz Hood { 12.05.09 at 12:58 pm }
Clear, concise and informative elevator pitch. I like the concept of appealing to this industry, although from the elevator pitch I am not sure whether the tow truck drivers would pay for this individually or if it would be marketed to training schools.
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