Hi everyone, My venture focuses on improving communication for learning between parents and teachers to foster an atmosphere that is positive, practical and personal (PPP). Lots of money to be made in private tutoring; lots to be made in the DIY market. Combining them only makes sense. Enjoy! PPP Learning Elevator Pitch To see the […]
Continue reading A3 PPP Learning Posted in: Uncategorized, Week 13: Venture Forum
Hello Everyone, Here is my elevator pitch! Mini SMART Board I have also included my venture pitch which is a word file, please let me know if you are having any trouble opening it! MET WordPress Cheers, Jenaca
Continue reading Jenaca’s Assignment #3 Posted in: Week 13: Venture Forum
Hello Jenaca,
Thanks for the great pitch. The music is clean without providing a distraction, but guides the viewer from problem to solution. You have perfectly timed the writing on the screen with timing required to read it. From the pitch, I found it a little difficult to see how it was different from a standard board, but then realized that it was 7×9 inches; I might focus more on the features of this product that make it different from an iPad or other tablet, as that was the impression that I was left with.
Cheers,
Kristopher
Hi Jenaca,
Nice video elevator pitch!! I like the change in music when your introduce your product after the stated problem. I don’t see any problem with your pitch but I am left with some questions about the product as proposed and how it would work. There is already a SMART slate product which is a wireless tablet input device that connects to SMART products. How is your product different? Is it actually a mini SMART board? If so, does it have a mini LCD projector attached that projects an small image onto the 7×9″ whiteboard? If not, how does the image get onto the surface of the whiteboard? Is it an iPad-like device that produces the image internally? I think this is a really, really cool idea but I am having trouble seeing how it is different from the SMART Slate or from an iPad-like device. Maybe a suggestion for improvement would be to clearly show how your product is unique and different from the SMART slate or a tablet device.
Jenaca,
Nice pitch and smart piece of technology too! I am also happy that handwriting and typing are catered to. However, even though your idea is really great, you are going to have a lot of competition there are similar products on the market. I guess you will have invest in apps or new features to really be competitive.
Everton
Hi Jenaca,
The music and images you’ve chosen to use throughout your elevator pitch are very engaging and provides the viewer with a clear problem and solution. Like others have mentioned, the mini SmartBoard in your elevator pitch reminded me of an iPad or tablet, so I was left wanting to know how this product is different. It may have been your intention though, to get investors to be curious enough to go read your venture pitch.
Jenaca,
Great pitch! Your elevator pitch has a lot of great information in it. The music is engaging and the pictures add a lot. I like how you took an already existing technology (the SMART board) and made it portable (something that seems to be a growing trend). You really point out WHAT the mini SMART board will do but I was left wondering HOW it will work. I’ve never used a SMART board so I was also wondering (as others have pointed out) how do you plan on making your product different from say and iPad?
I also liked how you took a different approach to the venture pitch and wrote it down instead of making a video. Your reflection section was great too! While not a necessary part of a venture pitch I felt like it was valuable to me as a student. I enjoyed learning about your thought process in making this company! Overall, nice pitch!
Tamara
Emerging Venture Analysis: Mini-SMART Board
In order to analyze the potential of the Mini-SMART Board venture, we will consider both the internal and external positives and potential negatives.
Strengths
This new educational technology builds on the success of its predecessor: the SMART Board. By modifying an idea that has already taken substantial roots in Canadian classroom, and using that powerful branding, the Mini-SMART Board has huge potential to meet emerging needs (especially as needs develop from experiencing other similar technologies. This device has a minimized impact on the user as many educators are already familiar with the parent technology. The connected nature (wirelessly, with presumably a web interface for access outside of the classroom) of this device speaks to its flexibility and innovation.
Weaknesses
As much of the strength of the Mini-SMART Board is based on its parent technologyâs success, it will also share similar weaknesses. The SMART Board is built to be most functional with the Notebook software (although it does work well with other popular software), which is somewhat limiting in itself. The parent product is known to change regularly and develop, creating a âalways out-of-dateâ sense with the product, which, likely this product would share in reputation.
Opportunities
Based on the venture pitch for the Mini-SMART Board, this product is backed by influential people from different areas (business, education, etc.). These endorsements represent a greater opportunity for infiltration into the mobile computer market.
Threats
The niche that this product is filling is one that is created largely by the iPad (and subsequent tablet and netbook computers). It is a wireless, touch-based tool that has great capabilities. If this product is not differentiated and its unique attributes highlighted, it potentially could be threatened as âjust another tabletâ.
Based on the success of tablet computers in general and the infiltration of the parent technology, I would recommend this venture for investment.
Jenaca,
I think this is a well-crafted pitch, with the audio and caption building up and making a good story. Having said that, I feel like this pitch is targeted to the consumer as opposed to the investor. The initial questions posed support this, as they are directly addressing people that working in education – which doesn’t necessarily apply to an EVA.
cheers
Doug
Hi Everyone,
There seems to be a large amount of confusion from my pitch and the product I created. As for the Mini Smartboard, yes in a way it is similar to the iPad however, much like apple created the ipad and blackberry created the blackberry playbook…. SMART Technologies created the “Mini Smartboard” which, stated in the pitch and more in depth in my venture pitch, is compatible with “other” SMART Tech devices…much like apple products are compatible to one another etc…
Also stated in more detail in my venture pitch is the use of this mini board and the sharing of files and information from SMART Tech accessories and devices. Of course it is necessary to implement the SMART Board itself and then adapt to using the mini SMART Board.
Yes this creation is actually a Mini SMARTBoard! That’s what I am pitching. It is essentially exactly the same as a SMART Board except students have their own, which would replace notebooks and paper items. Students, or business professionals could use this tool wherever they are and still be connected to the presentation or classroom lesson..
For example, if a student is sick at home, everything that has been presented on the SMART Board that day will be shared on their device…Virtually connecting them.
Also, I stated those questions at the beginning in hopes of targeting my investors personally, whether there past has been in educational, business or government settings…
I hope this has cleared up any confusion!
Thanks,
Jenaca
Hi Jeneca,
Thanks for the clarifications. I was thinking that you were looking for investors who were will to invest in the Mini SMARTBoard, which would be different than the other existing smart board technologies.
I really enjoyed your elevator pitch. Also I liked how you took efforts to make your venture pitch look like an actual report from the company. I thought that was a nice touch. While I know that there was no real stipulation with having any figures, I was wondering if a technology like this would be feasible in the public school market. I am not sure if schools would have the funds to purchase equipment like this for their students, even though it would make it easier for the students to keep up. I have found that schools would opt for the cheaper option of emailing students the information and having the students provide their own means of accessing the information (ie. through iPads, personal laptops etc.). This could be useful in a business setting, but again I can see the businesses not wanting to spend anymore money on an extra piece of equipment for their employees. Instead they would encourage their employees to access the information through their laptops or iPads.
However, I think you may have something here. Perhaps if you developed a type of software that connects a smartbaord to a personal computer which provided two way communication between presenter and audience, you may have a product that improves interactions and collaborations. You just need to ensure that the connections can be made between many points, such office to home or classroom to home. This means people and students can be connected regardless of location. And here’s the big thing…the software needs to be compatible with iPads, PCs, laptops, mobile technologies etc., and evolve with all the software updates that happen on each of the operating systems.
Hope this helps. If not, please let me know.
Juliana.
Hi Jenaca,
This comment is about your EP as I haven’t yet read your VP. From your EP, I find your product very intriguing, and I want to know more about it. This is a very good thing đ I think it’s exactly what the EP is intended to accomplish. I did notice that the audience seemed to change midway through the pitch, from educators “are you frustrated” to investors. I wonder if you work here might be strengthened by only addressing the latter? As an example, instead of ‘are you frustrated…’ you could make the statement that ‘educators are frustrated with…’ I’m also wondering – how much are smartboards used anyway, within education, corporations, and government (The three areas your identify)? I ask this because these boards seem to be ubiquitous but i’ve never really seen them discussed in my ETEC courses (granted, this is only my 2nd one). I’ve only seen a couple of mentions of them being these expensive pieces of equipment that sit there, seldom used (that being said, my partner’s folks, middle school and high school science teachers, l-o-v-e their smartboards). Might your product be a reasonably inexpensive add-on that will add value to these perhaps underused pieces of equipment?
best, Allie
Hi Jeneca,
Thanks for your clarifying post it did clear up some things for me that I wasnât catching. I think I just realized what you did. You proposed an extension to an existing product that is on the market. I did not pick that up and it caused some confusion for me. You are proposing this as though you are a representative of the SMART Board company. Sorry, Iâm feeling a little bit of information overload at this point in the term.
With that in mind I think I would suggest a couple of tweaks for the elevator pitch. As Allie stated, I would switch the wording at the beginning from targeting teachers to making a clear statement that this is a problem. As a teacher you would have the credentials to make this a believable statement. I think itâs important to focus in the pitch the value of the collaboration benefits that you state in your comment above rather than just saying you can âpairâ with the SmartBoard. Itâs hard to see the business value of âpairingâ two technologies but I get it when it allows me to collaborate without messy fiddling with technology.
Cheers,
Julie
Feeling a little out of my league here but enjoying everyone else’s! ClickView Venture Pitch http://www.clickview.ca Elevator Pitch: https://www.youtube.com/watch?v=q7Pc9idfg5I Once upon a time, before the internet, people used to watch videos on things called videocassettes. These videocassettes gradually fell to the wayside to make room for the DVD. As we have progressed, many people now […]
Continue reading Finally . . . Posted in: Week 13: Venture Forum
Hi!
This sounds like a really innovative way to solve problems faced by many educators (availability of resources, bandwidth). I found that after the pitch was finished, I had many questions as to how exactly the project worked– which I guess is the intention of the pitch, to engage and stir interest. Having said that, perhaps there is a way to include some more concrete examples of how to incorporate this tool into the classroom.
Thanks for the pitch!
Kristopher
Hi Michelle,
I like some of the features of this software such as the ability to provide a complete view of lesson information related to the video. Like Kristopher I had lots of questions about how it worked but I thought I would start with getting a little bit more clarity about the venture itself. This looks like a product that is already in existance so from an EVA perspective I’m curious about what you are looking for. e.g. are you involved in this company and are looking to market the product in Canada or something along those lines?
Hi!
I enjoyed your elevator pitch, the use of narration and text worked well together and the timing of your text is very clear and easy to read. Clickview sounds like an interesting product and if it does solve the problem of bandwidth and networking while allowing educators the ability to access material from any computer, I think schools would be excited to invest in this product. After watching your elevator pitch I was left wondering how the product works. Specifically, how do you access the material without streaming through a bandwidth or networked system? Regardless, it seems like a really interesting product and your elevator pitch left me wanting to know more.
Hi Michelle,
It is an interesting product, and is one that our school is looking into for future use. There are a lot of questions surrounding the issue of VHS tapes and DVDs. It sounds like the VSB is thinking that DVDs may not be available in the near future. But I’m not very clear from the pitch as to what your venture is. I already know a bit about the product so I’m wondering where a new investor would fit in with its development or marketing?
cheers
Doug
Hi Michelle,
You have presented an interesting and innovative product. It addresses the needs of a number of educators and students. As a teacher of Social Studies, I think I would be interested in trying it. As it has been mentioned before in this discussion forum, I would like to know more about how does ClickView works. As Julie, I am curious too about your relationship with the company as it is a venture that seems to already exist.
Cheers,
Angela.
Elevator pitch assessment
Michelle Workman (themusicwoman) – Clickview
First Impression: no face, very little voice, mostly music and slides,
CEO Credibility: The CEO does not appear at all â very little voice, no image or appearance. I have nothing to judge CEO credibility on. I might take a negative inference based on the fact the CEO is unwilling to appear and be heard.
Management Team: No team is mentioned, so I have no way to judge. I might take a negative inference based on the fact the CEO is unwilling to talk about the team.
Venture Concept: Apparently some way of allowing watching digital video in a school without using AV equipment (but it doesnât say how the video is consumed, presumably on computers? Wouldnât there still be a computer and projector? Does everyone have to use a computer to see it?). It doesnât use streaming but doesnât explain why that is important or how it does work. Apparently there are over 1000 of existing titles but we donât know what they are or who they are targeted at. Apparently video can be added or edited but it doesnât say who can add or edit or how or why. Apparently video can be saved to a USB key but it doesnât say who would do this or why.
Opportunity Space: No description of the intended market beyond âschoolsâ. No description of the market share or pricing.
Market Readiness: Appears to already exist as a product but o indication of switching costs for schools to switch to the new concept, and no indication of existing sales or market penetration or pilots.
Competitive Edge: Apparently they have a patent but itâs not clear what their non-streaming technology is or why it is desirable. No indication of where patents are held (Australia only?).
Exit Strategy: No indication of their target market, its size, or how they will capture it. No indication of what money they want or how I will be repaid.
Overall Investment Status: I donât see the CEO or the team, I donât know who the targeted market is. I donât know the intended pricing. I donât know how this will be marketed. I consider this high risk and would not pursue.
Dear David,
Thank you for the very clear and concise assessment! I totally appreciate it đ Now, if only there was a way to re do it . . .
Hi Michelle,
I think you have proposed an interesting idea for Canadian schools and one that appears to see investment in other regions. I understand the idea of a video database that includes lesson plans and worksheets. What I am unclear on is how this is better than AV equipment. This will still require access to a computer even if there is no projector. How do students view the videos? from one central computer used by the teacher? In a lab setting where all students are at there own system? I am unclear where this provides benefits.
It appears that your are advocating that Canadian schools invest in an existing venture. Do you have any relation to the venture? I think one very strong feature of Clickview is the willingness to give a trial at schools. This would answer any questions schools might have and would allow an investor to see first-hand how and if the product fit their needs; A strong component.
The Elevator Pitch [kaltura-widget uiconfid=”534″ entryid=”0_m6e65h0j” width=”400″ height=”330″ addpermission=”” editpermission=”” /] The Venture Pitch [kaltura-widget uiconfid=”534″ entryid=”0_72hmy2pf” width=”400″ height=”330″ addpermission=”” editpermission=”” /] References Beare, K. How many people learn English globally? Retrieved November, 2011, from: http://esl.about.com/od/englishlearningresources/f/f_eslmarket.htm McNamee, G. (2010). âTweet,â âTeachable Moment,â âToo Big to Failâ: Latest Words and Phrases to […]
Continue reading Porto v1.1 (Assignment #3) Posted in: Week 13: Venture Forum
Hello,
This looks like an interesting little product. I appreciated in your pitch that you noted the potential market and the niche that you are approaching (e.g., novelty learning devices). Perhaps to enhance this elevator pitch, I might diversify the media (sound, video clips) to compliment the pitch.
Cheers,
Kristopher
Thank you for the advice. I was a little hesitant in using sounds and video for the elevator pitch because of the timing and the 1 minute constraint.
schiong,
I like porto. You have also touched an important concept as vocabulary and English Language learning is currently very popular as persons seek to learn new languages. I would like to know if it will work with all kinds of vocabularies an if the gifted will benefit from such a venture. I like the text to speech feature and this venture would do well where English is being studied as a second language. I am also you mentioned studying the market and using Amazon to sell products. Had a little problem with the audio but your venture was well thought out and executed.
Everton
Yes, I believe even the gifted would benefit. đ
Porto would have an internal storage using the same technology as flash drives.
The current capacity would go as high as 64GB … capacity is big enough store several vocabularies. In the venture pitch, I mentioned about a site where they could update their OS and download new vocabularies.
Sorry, I about the sound. I only use what was available (free microphone, earphone, open source software).
The sounds(narration from text to speech) came out of the earphone. I placed the earphone near the microphone so it would record it and then save it as a sound file.
I hope the sound of the airplanes was not evident.
For some reason, my area is sometimes use as a flight path.
cheers,
Stephen
Stephan,
You have a great idea! I am currently an ESL teacher and improving vocabulary is the number one thing my students ask for. It is an important part of their learning. You are filling a currently lacking market for sure. I like your porto guy, he’s cute and would be fun to carry around. I like how you used an electronic sounding voice for your pitch, I first figured it was for an example of what the porto might sound like.
I also like your elevator pitch – your use of the elevator is clever!
I have some questions though, I didn’t get exactly how the porto worked (maybe a combo of my head cold and my husband playing angry birds in the background) but how do you plan on distinguishing yourself from a speaking dictionary on a smart phone? It also sounds like you have already created some portos, is there a place I can send my students to check them out if that is the case?
Tamara
Hi
đ
How does it work?
a) Load it with vocabulary. You can download from a web site
b) Press the play button.
What makes it different?
a) It is a novelty item. If I implemented it in Smartphones, then I will be one of the many apps.
b) Projector – this means 1 or more people can actually learn the word together. They do not need to “squeeze” themselves just to view a video or image from the Smartphone.
If a movie can be played in the Smartphone, why do some people prefer to watch certain movies in the cinema?
c) The next step is to convert the projector to hologram.
d) If it was implemented in iOS, then I would only reach out to the learners with iPhones.
If it was implemented in all platforms, that would require different programming versions.
Take Angry Birds for example. It started with iPhone (if I am not mistaken). It took time before they had Android and PS3 version. To program in Android platform means another set of hardware or at least an Android device to test it on. It takes too much time, effort, and expense.
cheers,
Steve
Hi Stephen,
The product looks interesting and definitely viable. The pitch touches on the market and I get the feeling that this pitch is made for investors – which is a good thing. I think the pitch could use something to liven it up though, I like the idea that a pitch should bring a smile to someone, either externally or internally (as a sort of a-ha moment).
cheers
Doug
Elevator pitch assessment
S.Chiong â Porto
First Impression: no face or voice or audio, only slides,
CEO Credibility: The CEO does not appear at all â no voice, no image or appearance. I have nothing to judge CEO credibility on. I might take a negative inference based on the fact the CEO is unwilling to appear and be heard.
Management Team: No team is mentioned, so I have no way to judge. I might take a negative inference based on the fact the CEO is unwilling to talk about the team.
Venture Concept: Apparently a handheld gadget that teaches English vocab by speaking a word and projecting an image with the word used in a sentence. Apparently based on pedagogy but doesnât explain what or how. Apparently a prototype exists for demos. Seems unlikely for individual use given requirement for projection. Perhaps for teacher use with students? Unclear who would use this or how.
Opportunity Space: Refers to 1 billion people learning English worldwide but doesnât specify who this gadget would be targeted at or why they would purchase it or how they would use it during the learning to either replace or add to other forms of learning. No costs or projected revenues provided.
Market Readiness: Doesnât specify the projected market segment or how to sell into that market segment.
Competitive Edge: Innovation appears to be the combination of portability, audio pronunciation and projection of an image with the word used in context. Not sure who this is aimed at or why someone would acquire a specialized gadget to do this vs. using other methods.
Exit Strategy: No indication of their target market, its size, or how they will capture it.
Overall Investment Status: I donât see the CEO or the team, I donât know who the targeted market is or how they are intended to use the product. Iâm concerned about the use of a specialized gadget when there are more ubiquitous gadgets available (mobiles, PCs, teachers with magazine clippings). I donât know the manufacturing or distribution costs or intended pricing. I donât know how this will be marketed. I consider this high risk however Iâve worked with Stephen and my personal contact with him and my interest in playing with the gadget would lead me to seek more information.
Hi Stephan,
I wasnât sure about the market but after reading Tamaraâs post it sounds like it is there.
Your venture pitch starts with the management team on the first slide. Nice the combination of skills across the trio inspires confidence. The automated voice is an interesting approach and important because that is at the essence part of what you are selling.
I like the concept of just in time learning but I think Iâm with Tamara on I need to understand more about the market differentiator over the technologies that are currently out there.
Hi Stephan,
Like others have pointed out this market (language learners) is vast and expanding. I think showing that you have moved from one a first proto type model to a second prototype is valuable in showing investors the progression of the product and increasing performance moving yet to another, third prototype.
One recommendation for future potential would be to consider expansion into other language learning martkets other than English. Since this is a hardware device would there be possibilities in installing other software to support different languages? This would open the market to ALL language learners instead of limiting it to just English language learners but as a former EFL teacher I like the idea.
Hi
That’s the nice thing about software. It can be updated to include different languages.
cheers,
Steve
Schiong Porto
CEO Credibility: Founder describes self as 15-year educator and developer. Founder uses a text-to-speech narration instead of using his own voice. No one wants to talk about this in their own voice?
Management Team: Team includes ESL teacher and electronics engineer.
Venture Concept: Does not describe the product (relies on elevator pitch?). Although prototypes exist there is no data on pilot testing, attitudes or learning outcomes for students or teachers? Mentions downloading words daily from a website which would require planning and use of a computer. Starts talking about holograms and artificial intelligence and conversing with Porto as upgrades but does not describe costs or timelines.
Opportunity Space: Targeting ESL learners, business, professionals, tourists. Describes 1-billion person market but does not segment this according to who of that 1 billion would buy an âeducational novelty itemâ for $75CAN. Does not project target market, growth, revenues or timelines beyond cash-flow positive.
Market Readiness: Prototype exists but no data on reactions of learners and teachers. Describes potential partners of schools, bookstores, tutorial centres and Amazon.com. (Bookstores appear to be going out of business). How do these partnerships work to create market share and increase sales? Describes SRP $75 with production cost $25.
Competitive Edge: Does not describe the competition or a competitive advantage.
Exit Strategy: Prototypes developed for $30,000. Requests âat least $1 millionâ which implies greater needs. Offers 40% share for $1 million, which values the company at $2.5 million. Projects positive cash flow Q3 2013. Does not project unit sales, recoupment of investment, or return on investment.
Overall Investment Status: The market, revenues, and return on investment are not projected. The novelty aspect raises concerns of short shelf life and not being taken seriously. Asking for a lot of money with no projected sales or returns. Very puzzled that no data given on pilot testing or reactions or learning outcomes. Consider this high risk and would not pursue.
PS: Very confusing for audio reading to be different from text on the screen. Video of the talking dog confusing and distracting. I donât understand how the listed learning theories connect to the product. Long black screens disorienting.
hi
Thank you for your insights.
The $1M is for future innovations/enhancements.
Again, thank you for your insights.
cheers,
Steve
Hi David,
just a quick one …
a) In the presentation, I tried to point out that the $30,000 was the initial investment and
it was used to create the prototypes. I also showed the progress of the prototypes.
I was hoping this would show commitment from the group, passionate about the product, resourceful, and has the technical know how.
Personally, I would find it more risky if it was only the CEO and the ideas (because it is very theoretical and unsure if it is implementable/doable in a given time frame).
b) Sorry about the 1 billion. It was referring to the number of English language learners. It does not include businessmen, tourists, etc… I imagine that Facebook initially targeted students and young adults. Now, you have grandparents, schools, etc…
c) No CEO face?
I guess I was uncomfortable with presenting the prototype at this stage and I do not want to show that.
I always fund my small businesses (in real life). I believe that my product should be out in the market and earning before I invited investors.
I know investors take risks. But, I like to minimize it.
d) Yes, bookstore might be going down or out of business. But, the cost of partnering with them is really minimal. We just need another venue to introduce the product.
Thank you again for the insights.
Steve, I really enjoyed your elevator pitch. I liked the simplicity of just text on a black screen, it made it easy to read as there was no distractions from anything else, also what I think really made it acceptable to just use text was the use of the elevator image and sound at the very beginning and end of the EP. For some reason that simple intro kept me captivated throughout the whole pitch. đ
Hi Steve,
I though that your pitches were well done. I would be interested in looking at the product before making an investment though. I find it tough to sell tangiable items without being given the oppurtunity to, well, play with them first. Interesting concept though, and I think that you did a great job with the type of media you used to convey the idea. It seemed well researched and though it.
David.
Hello, Here is my Elevator Pitch for A3! For more detail, please read through my LearnTRU Venture Pitch. Thanks! (* Note: There was a audible click in my EP so I uploaded a new version.) Reference Learning Disabilities Association of Canada. (2011). Retrieved from http://www.ldac-acta.ca/
Continue reading LearnTRU Elevator & Venture Pitch Posted in: Week 13: Venture Forum
Hi Ashley,
What a great pitch! You caught my attention right away and I was engaged the entire time! I am shocked about the high number of dropouts and can’t seem to get 35% out of my head! I think this was a wonderful way to begin your pitch, as well as visually showing the comparisons!
I am definitely voting for your product!
Jenaca
Hi Jenaca,
Thanks so much for the positive feedback, it’s much appreciated. đ
learntru is a well positioned and developed idea. I like the structure of your presentation. You clearly establish the need and the market, although there was no hard data on cash flow. You have positioned your product as a whole solution, through offering not only help with academics, but also with lifestyle, which would translate to self efficacy. I also think that through providing extra services, such as helping parents negotiate through extra funding applications that are available to them benefits both you and them. I thought your minimum commitment time was a little high, but I get that in order to peruse an activity on the weekend, it would take time. Did you consider offering fragments of your service as well? For example, if someone just wanted help with one aspect, they could pay only for that? Great presentation and great idea. I like your coordinated services model and would invest in this.
Emily
Hi Emily,
Thank you for your feedback. I decided not to include any specific data on the financial aspect of the business mostly because it wasn’t a requirement for the assignment and I wanted to make sure that I gave as much attention as possible to the deliverables. In regards to offering fragments of LearnTRU, I feel as though it would go against the underlying concept behind the program, which is to help create an academic/non-academic balance in a child’s life. I realize that the minimum commitment could be considered high, but most sports or programs for young children are at least one day a week so it isn’t really any different as far as the time involved. Also, for families who have children with learning disabilities, they will help their child spend as much time as they need to become successful.
Hi Ashley,
You are addressing a very challenging problem – meeting the needs of a group of students who are traditionally overlooked and given minimum support – your stats are disturbing as we look at their drop out rate. When I first viewed your pitch, I wondered if the only difference between your service and any other tutoring program was the weekend activities, but then I noted that you provide a great deal of support for parents and a very individualized program for each student based on your assessments. I too wondered about the cost and what investors would get in return…but maybe you are a non-profit group? I also wonder if one evening per week for tutoring would give them enough support to upgrade their skills enough to be successful in their regular school day. Great presentation for sure!
Brenda
Hi Brenda,
Thank you for your comments. You’re right, one day a week would not be enough to help upgrade a student’s skills, that’s why LearnTRU spends equal amounts of time focusing on participants learning lifestyle and high-interest lifestyle. Although it could be split so that we focused on the learning lifestyle during the week and the high-interest lifestyle on the weekend, it is much more effective when the activities are done together each day. This gives the participant an outlet after working hard on their academic pursuits through the transition to the high-interest lifestyle, even if it is something as simple as going for a swim at the public pool during the week.
I do feel as though the business can be profitable, but I need to finish researching the financial requirements of launching LearnTRU before providing you with more detailed information. đ
Ashley
ashleyross,
I think your elevator pitch is a good one. I definitely like your sequence of your ideas from the identification of problem to solution of problem through Learn TRU. I think it was innovative. Developing countries would definitely benefit from your venture.
Conroy
Hi Conroy,
Thanks so much for your comments. đ
Hi Ashley,
Great product.
I’ve never dealt with anyone with learning disabilities… so it is hard for me to imagine the market potential.
just to clarify, would you be transferring the learner (diagnosed with learning disability) to your own “school”, or you send a consultant to shadow the student?
cheers,
Steve
Hi Steve,
Thanks for your question. The answer is neither, you could think of LearnTRU as an afterschool program that provides students with the tools they need to bring back to their classroom. The idea is for them to become self-sufficient and independent, while in the classroom.
Cheers,
Ashley
The Venture:
LearnTRU is in the business of helping particpants learn using technlology to reach their ultimate goal by providing them with a learning lifestyle strategy that will stay with them forever. LearnTRU has blended a learning lifestyle and a high-interest lifestyle that aims to create the perfect âafter-schoolâ and weekend learning environment for students with disabilities.
LearnTRU has 3 main aspects:
1) Assessment: To help clients discover their learning lifestyles through a series of questions that determine how they learn best and which tool(s) can help them in their academic pursuits
2) Learning Lifestyle: Participants are taught how to learn by transforming any subject material so that it suits the learning style that was outlined during their initial assessment
3) High-Interest Lifestyle: Involve students in activities outside of the normal lifestyles (horseback riding, playing musical instruments, snowboarding etcâŠ)
Additional Information:
âą In Canada, about 1 in 10 Canadians have a learning disability; 35% of those individuals who are identified as having a learning disability
âą LearnTRU is to help these young people find a hobby, sport or exercise that they enjoy, but more importantly one that will give them a sense of accomplishment.
âą LearnTRU clients will spend equal amounts of time developing their Learning Lifestyle and their High-Interest Lifestyle to help them achieve success in all aspects of their lives.
âą The minimum time commitment required to participate with LearnTRU is one evening during the school week and 4 hours on the weekend.
My Thoughts:
LearnTru is a well developed and structure idea. I like the vision of this venture and truly believe there is room in the market for this service. The elevator pitch intrigued me and motivated me to read your venture pitch where I found facts, statistics and information regarding the current market competetors and how your service differs from the once currently on the market. The feature I find most unique about yours is the last step in your pitch: high-interest lifestyle. Most of the other services do not currently include this and I believe this is the selling point of your service!
learnTRU is definitely something I would invest in!
Hi Jenaca,
Thanks again for your positive comments. I too believe that the high-interest lifestyle is one of the main selling points.
Cheers,
Ashley
Hi Ashley,
LearnTru has a great pitch. The elevator pitch initially grabbed my attention and I love the value proposition. I was really surprised about school drop-out rates. However, right away I understood the problem . I could also relate to the problem and wanted to know more about how LearnTru could solve the problem which lead me to explore the venture pitch. A differentiation strategy is evident, but how feasible is this considering the target market. It is exciting, but can the market afford to pay for this service? The marketing plan seem terms of marketing, the plan seem attainable. Also the LearnTru team is solid and seems to be capable of turning the venture into a success. The idea of a niche is good as it caters to a specific group that need this type of service and the presentation clearly identified the market. Overall I love your preposition. It is unique and suits the target market you identified. This is definitely a venture that is worth pursuing.
Keisha
Hi Keisha,
Thanks for taking the time to give me feedback. ‘Can the market afford to pay for this service?’ Great question. To make it more affordable for the market it is important to help clients find and fill out the proper grants, there is a lot out there but most people (1) don’t know they exist and (2) have a hard time finding them and filling them out.
Cheers,
Ashley
Hello Ashley,
Well done on your clear and convincing pitches. Both look very professional, and are quite persuasive in establishing a need market for this service. After reading through everything I was left thinking that itâs amazing something like this isnât already established â itâs just so common sense. It also feels like youâve already started developing a brand. This was evident as well in your use of the âlearning lifestyleâ and the âhigh-interest lifestyleâ tags. (It would be cool if you could do this for the learning lifestyle assessment you mention as well.) Your quote âLearnTRU is in the business of helping participants learn using technology to reach their ultimate goal by providing them with a learning and lifestyle strategy that will stay with them foreverâ made me wish that I could access this product myself, because who doesnât want to reach their âultimate goalâ? đ
You very clearly identify the market, offering, and buyer. One area that I thought could be expanded is your discussion of the competition. As a potential investor, Iâd be interested to know what places like Sylvan Learning charge per hour to get a sense of what buyers are already comfortable with. Also, how many students in the Toronto area are attending tutoring programs? I would also like to know more about the types of technology LearnTRU will use. You give a few examples, but Iâd be interested to learn a little more about how those are integrated into the approach. What does the licensing for these systems look like?
My final question is around marketing. I think I understand that this product will be marketed to schools, who will refer students, and also to parents directly? Not knowing much about the Individual Education Program process, I would love to hear more details specifically about where LearnTRU fits in that process.
Great job Ashley, and Iâm curious to know, is this something youâve developed or are in the process of developing?
Andrea
Thanks for your feedback Andrea, it`s really appreciated. You bring up some great questions.
I found it challenging (in a good way) to choose information to include in my VP that focused on maintaining the interest of an investor versus a potential client. It is also why I provided a few examples of the assistive technologies, but didn’t go into too much detail. That’s why it’s great to be able to read everyone’s comments and questions and reply. đ
When it comes to learning and technology, every student has different needs. Some students with LDs have dyslexia (trouble reading text) which is why applications like Kurzweil that transform text into speech, would be used for them. Others have dysgraphia (difficulty with writing) and applications like Dragon Naturally Speaking, that transforms spoken words into text, work well for them and others need a combination of both. I could write a novel about this but I’m sure you don’t want to read it. đ What is important is to find what works for each individual participant and teach them how to successfully implement the programs into their daily education schedule. It all seems so simple but no one takes the time or has the time to sit down with these students to figure out how they learn best. Licensing varies on the technology, most are around $100 but Kurzweil is around $1500 plus then you need a laptop for these programs. The initial setup can be very expensive, which is why it’s important to get proper funding.
I am planning on including all related costs and those of my competitors in my future VP. I decided not to include it the VP I submitted for this course because it wasn’t a requirement I wanted to focus my time on other aspects of the program. For a program like Sylvan it’s about $45-50 an hour after the enrollment fee of $50 and their initial assesment is about $150-200. But it varies depending on the client’s needs. Adding the percentage of students who attend tutoring programs in Toronto is a good point and one I’ll take into consideration.
For the marketing aspect, yes I would position myself to receive referrals from schools and parents but also from psychologists. For students to be diagnosed with an LD they need to have a psycho-educational assesment done (which in Toronto costs anywhere between $1800-2400+). Once diagnosed, students can get an IEP at school which they can get extra time on assignments, tests and exams. It also allows them to write exams on a computer, in a private room and gives them access to potential funding for tutoring and technology. As I mentioned above, the primary issue is that no one has time to actually sit down and teach these students how to use the technology or determine how they learn best.
The program isn’t completely developed yet, it is something that I am working on though and will hopefully be launching it in the near future. I hope I answered all of your questions, and sorry for the long post!
Cheers,
Ashley
Hi Ashley,
Thanks for your thorough response. You obviously have a lot of expertise in this area. I can appreciate how difficult it can be to include everything you know and want your audience to know about your venture. You did a great job presenting the essentials in your pitches. Thanks for taking the time to answer all my questions!
Reviewing people’s pitches and the subsequent discussions here I’ve learned a lot about new markets and technologies.
Best of luck in your continued development of LearnTRU!
Andrea
Good job Ashley. It is great to see a product focused on a market that “needs” support and development. I thought your idea was creative and optimistic. There were a lot of steps and a lot of choices within your product, which confused me a little…..but I think that it has great potential.
Well done.
Verena:)
Hi Verena,
Thanks for taking the time to read my venture. I am sorry to hear that you found my VP a little confusing, perhaps I can clarify quickly how the program works. The initial three steps are designed to provide us with enough information to build a foundation for each client and it is from this foundation that we develop their learning and high-interest lifestyle. These are non-optional. We then allow our clients to choose how many days a week they wish to work with us to implement the aforementioned lifestyles. It could be one day during the week + four hours on the weekend, or it could be five days a week, it completely depends on their schedule, budget, and requirements.
The rest of the additional services are supplemental to the above, such as providing laptops and software, helping families inquire about funding, etc.
Hopefully this helps. đ
Thanks again,
Ashley
Hi Ashley,
This is a great venture idea. Your elevator pitch caught my attention, especially when you started with the number 35%. This made me think what it would represent. I also liked your venture pitch. You said that “In addition to the assessment fee and any associated equipment purchase or rental costs, the primary source of income for LearnTRU will be through annual contract agreements”. I think it’s a great idea. As I’m currently teaching students with special needs, I’ve been seeking for support in helping them learn in general. Your venture is a great idea to help both teachers and students. Great work!
Deb
âą Pain Point: students with learning disabilities
âą Solution: LearnTRU â loved your use of acronyms. I think that this is a great idea. I think your venture idea has a lot of merit â it combines real-life experiences that boost morale and self-esteem with techniques on how to develop excellent study habits and routines. I think you have really identified a gap in the market that can be filled with your solution. I like your business plan and I think you have a well thought out and researched venture/market capability. You have identified that the market is ready for this type of solution and you have a flexible sales plan. You have identified a great team to work with and appear to have a lot of credibility. I did not see in your venture pitch how much you were asking from investors or return on investment. I did however, really like your sales strategy and thought overall the venture concept was not only feasible, but very doable and worthwhile cause. Great concept!
Hi Ashley,
This was actually one of the first ones that I looked at but in my check throughs realised I actually did not post the response. Sorry. I really like the concept of Learntru. Your elevator pitch grabbed my attention and addressed pain points, solutions/product, and your target market. However, I did not get a sense of the team involved, how you will access your market or potential market share. I liked the use of the three step system presented, and how it was presented, and your inclusion of authentic learning activities. It is a great concept I hope you go forward with it.
Kerry-Ann
Here is my Elevator Pitch: You can access my Venture Pitch here
Continue reading Brenda’s A3 Posted in: Week 13: Venture Forum
Wow Brenda! What a beautiful presentation!
Your pitch we well crafted and included all of the information required for an effective pitch. The delivery is stunning, so kudos on building the pitch. If I were to suggest an enhancement for your pitch, I would suggest that you modify your language slightly; for example, instead of ‘let me build this…’, I might say more affirmatively ‘I WILL build…’, or ‘this concept has been designed…’– something that shows that the product/service exists and is ready to be purchased.
This is the first Animoto presentation that I have come across and it has absolutely been added to my toolbox.
Best,
Kristopher
Brenda,
Great idea! Nicely thought out and executed. I only wish if I had more time to read. The slides never provided me with adequate time to do so. However, it is a product I would give some attention to even though I would need to know more before investing.
Everton
Hi Brenda,
I really like your idea and I enjoyed watching your elevator pitch. I agree with Kristopher’s suggestion about modifying your language, I think it will make you sound more confident about your product.
thanks for your comments everyone! I agree, I should really change the language to show more confidence! I am a big fan of Animoto – I have created family videos using pictures of holidays and special events – I have quite a library of them already! I wasn’t sure if it was suitable for an Elevator Pitch, because it is not a face-to-face video (tried that and it was AWFUL!) and I didn’t have the ability to slow the slides down so that you could read all the text in time…so hoping that the longer venture pitch covers the details. Thanks again.
Brenda
Brenda
Breada,
Great venture! I love the idea. It strikes me that you are taking on the idea that Google had with running the cloud to cut costs and to create one big business that can do more than many small schools. With the advent of the Margaret Atwood and Doug Ford debate on libraries this would solve the problems that many people are having with theses spaces that are quickly becoming outdated.
Your elevator pitch was great and I liked the use of the animoto. The only problems I had were I had to stop the video a few times to finish reading the slides. I think you can devote more times to the text slides and less to the references and ending. Your full venture pitch is great and I think that the example you’ve added is a great addition. I had a few problems with the audio cutting out a bit near the end of the slide but it didn’t hinder my understanding of your project. Amazing idea!!
Tamara
P.S. My partner was sitting in the same room as me while I was watching your pitch and he was impressed by it too!! He commented on how much better it was than mine đ
Hi Brenda,
I like your pitch, I think it touches on many aspects that an investor would want to know about. You give off a lot of confidence, which is a huge part of a pitch. I think I understand what it is you’re pitching, but at first I wasn’t clear on where I come into this as an investor: I had to replay the video and pause on the one crucial slide to learn about the portal. But the pitch was good enough to make me watch it again to find this out!
cheers
Doug
Elevator pitch assessment
B. Courey – Learning Commons
First Impression: no face or voice, only music & slides, moved too fast to read, had to watch many times and pause to read
CEO Credibility: The CEO does not appear at all â no voice, no image or appearance. I have nothing to judge CEO credibility on. I might take a negative inference based on the fact the CEO is unwilling to appear and be heard.
Management Team: No team is mentioned, so I have no way to judge. I might take a negative inference based on the fact the CEO is unwilling to talk about the team.
Venture Concept: âJoin the movement to the learning commonsâ. Apparently the idea is kids working quietly in the library is bad and kids should instead be working collaboratively using a computer system. I donât know what a learning commons is or what the benefits to kids are.
Opportunity Space: mentions 72 Ontario school boards and that only 5 are using Learning Commons. That implies a potential market of 77 although the pitch says 60 are available. No revenue is mentioned. Apparently the idea is to build a learning portal for schools to get what they need for a Learning Commons and to pay a subscription fee.
Market Readiness: Apparently only 5 out of 72 Ontario boards are using âLearning Commonsâ and the rest donât because of a lack of staff to do it. Savings are implied by switching to this concept from existing license fees, however thereâs no indication of sunk costs, switching costs, or likelihood of switching from established decisions and investments.
Competitive Edge: Implication that the new solution will be cheaper but there is no discussion of current costs vs. suggested fees, or what fees would be necessary to cover development and service costs. Not sure how to compare existing situation vs proposed situation.
Exit Strategy: No indication of projected sales, revenues or intended goals for market share.
Overall Investment Status: I donât see the CEO or the team and I donât really get the concept. Itâs possible that schools may use a subscription service, but I the switching costs may be high, and they may need integration with existing systems. I donât know the projected goal although I can guess that itâs signing up all Ontario boards. I consider this high risk and would not pursue.
Hi Brenda,
I think that the idea that you’re presenting in your EP is compelling, and the presentation is very beautiful. I know of the learning commons movement, but I don’t know much about it. I think that something that I’m wondering from your EP is whether there is a demand for learning commons. I imagine that most would nod approvingly at the idea, but I am wondering if school boards would buy this service when push comes to shove; are the benefits to students worth the investment?
I hit reply too soon! And so, let me add, I think that you can strengthen your EP really quickly and easily if you can address whether schools and school boards want to move to learning commons.
Hi Brenda,
I see from the comments above that you already got the message about the slides going by to fast to read so I’ll move on. I do like the first two comparison slides because they tell me exactly what your venture is going to be about. What I donât have a sense of is what evidence there is that the learning commons is better than the traditional library from the kids perspective. I like the benefit statement of âone stop shoppingâ and lower costs for the schools but I think a benefit statement from the kids perspective would make it a stronger sell.
Cheers,
Julie
Thanks for your comments Julie – I can see that I didn’t give enough background for people outside of Ontario – because here, learning commons is huge. Most schools are finding that the traditional library in schools is not meeting the learning needs of students and so we are exploring (and many have adopted) a new model – we based a lot of our research on the Calgary Board of Education model and the Ontario Librarian Association recommendations…perhaps I should have included that in my message – bad idea to forget the background knowledge of the audience!
Thanks again for your advice,
Brenda
Venture Pitch Review
Hi Brenda,
After my first viewing of your pitch for Inspiration Learning Commons (ILC), I had the distinct sense how passionate you feel about the need for learning commons (LC). Your vision of the role of LC in education is pretty clear, and I felt it would fit quite nicely within the arena of political activism to increase provincial support for LCâs. For the purposes of this course, I wonder if we can tighten up its life as a prospective venture? I think that all you need is a bit of editing, and bit more detail.
For me, there were two key pieces of information that you presented that really spoke to the possibilities for ILC as a *venture opportunity* – but these pieces felt a little buried. Maybe you can foreground them right at the beginning. One is something you mentioned in the comments: that the idea of LC is huge in Ontario, & that it is perceived within the ON education system as a real need. The other is how you describe, at around minute 3, how smaller boards in Ontario canât afford to develop their own learning commons. They want to, but how? Enter ILC! A LC service for boards who canât afford to develop their own!
As for a bit more detail, I feel that, if I were an investor – or a school board thinking of purchasing the product, I would want to know these things:
$ Why would school boards want to invest in learning commons if there is such shockingly declining support for libraries (around 1:00)? *6:09 Iâm wondering what the licenses are that schools could stop using to free up $ for Inspiration? Are they well and truly expendable – or perceived as expendable?
*Return on Investment: what precisely are the skills that students might learn in the Learning Commons, as opposed to traditional libraries, that might ultimately help them contribute to Ontarioâs economy as adults? What kind of difference might this make to the future economic life of (rural?) areas whose areas cannot currently afford to develop their own LC? (1:30)?
*Tech: Is the LC compatible with LMS? Could it be an add-on? Do the schools use LMS?
*Exactly which resources do students access through the learning commons (2:08)? I think that some of your work here might be strengthened by showing us what some of the best resources are, and how they can be used to effectively bolster education in needed ways.
With my best regards,
Allie
HI Brenda! I tried to get to your pitches. I am in China this week, and can’t access them. I just wanted to say that I really wanted to look them over because you have always given me such great feedback in this class. So I apologize that I can’t do the same. I will check them out next week in Canada though!!!
Thank you for being such a terrific participant!!!!
Verena:)
Hello Everyone, Following you can see my Elevator and Venture Pitch. Angela’s Elevator Pitch [kaltura-widget uiconfid=”534″ entryid=”1_8ied23pq” width=”400″ height=”330″ addpermission=”” editpermission=”” /] You can access to my Venture Pitch here
Continue reading Angela’s A3 Posted in: Week 13: Venture Forum
Hi Angela,
You beat me to it! I had an idea like this previously, but I didn’t take the time to develop it. You did a great job and I think there is a good market for this. Even here I think teachers can benefit from services such as these, but I think the barriers will be who will pay for the services. That was something I wasn’t clear on in your presentation…who will be expected to be paying for the services? Is it the teachers themselves or the administrators above them?
There were also a few sections of the presentation where the slide transitions were off making it difficult to follow, but you make up for it in your elevator pitch, which was great! I really enjoyed the elevator pitch in that it was catchy and drew my interest.
Juliana.
Hi Juliana! Thanks for your comments! About some things that wren’t clear, you are right, and I did not realize it before. I expect that school administrators pay for these courses. That is how I work in the coaching services that I had offered (the school pays me for training their teachers).
Angela.
That is such a great service! I don’t think we have anything similar to that here in BC. I think many teachers would love such assistance.
Juliana.
Hi Angela,
Great pitch and idea! I agree with Juliana and definitely think there is a market for this product. I am also a little confused about who will be paying for these services, I am assuming the administrators?
Also, I think the music was a little distracting for me. However, I think you have a really great idea and definitely had me engaged!
Jenaca
Hi Jenaca,
Thanks for the feedback. It is really useful as I wish to create this venture in the future. About your doubts, please refer to the response I provided to Juliana.
Cheers,
Angela.
Angela,
Loved your elevator pitch! Excellent graphics, great music and a strategic concept for a venture. It looked like it was professionally done and made me go right into your venture pitch. I think you have identified a significant gap in the market and some valuable solutions to accompany it. Time and planning are in such short supply now â for everyone â so the market is quite realistic and expanse. Excellent job!
Thanks for your comments Deb! Much appreciated.
Angela.
Angela,
I agree with the others – this was well done, and thanks for describing the experience faced by teachers in Chile – I didn’t know about the competency requirement for IT – wish we had that in Ontario!! You have done a great deal of planning – your details are clear, except as other have said, who is the buyer of your service…but I see by your reply what you intended. Your price point is very reasonable as well – the competency requirement is a great motivator for teachers to take advantage of your service.
Brenda
Angela,
I concur with the others that your elevator pitch was professionally done. The graphics selection and sequencing slides were good. I really like it. In addition I think that this product is a good market venture and has the potential to attract a lot of users. I know that Jamaicaâs educators would definitely like a product of this nature. Well done.
Conroy
Hi Angela,
I like the presentation.
Is my understanding correct … that what you are offering is a service ?
Assuming that your team is offering services, how do you protect your market?
Is there something only your team can provide ?
does your team get monthly salary or is it commission basis? I would like to have an idea of your operational costs.
If a company invests, say $1M, how and when would they get their return of investment?
cheers,
Stephen
Hi Stephen… thanks for your comments. About your queries…mmm…rough questions… but I will try to answer them:
About the first and second: I am offering a service and what differentiates my service from other competitors is that I offer coaching services both in technological innovation and application of theory in instruction (PBA pedagogy and Social Constructivism). Maybe I did not stated clearly this (even I thought I did). Today that would protect my service, because in Chile there are few people specialized in both fields and all of them are working with me.
About your third question: As this is still a venture that we are thinking on we have not defined if it will be monthly salary or commission based. I have seen from other coaching companies in Chile that they usually base in a low monthly salary and a commission, depending on the number of projects they reach per year.
If the venture succeeds and reaches a fair amount of schools to train, I think that the investors would get their return of investment after the first year of running.
Hope to have answered your queries.
Angela.
Hi Angela,
Your venture is a great idea, as teacher training is one of the biggest hurdles to tech integration in schools. We believe that technology can help us do more with less.. but we first have to learn to use it first! I wonder if your target market is the individual schools (K12 and higher education?) or the public school districts. For public schools, there are “Professional Development” days, which happens a few times a year in our district, where teachers share their knowledge through workshops. However, we are rarely given collaboration time throughout the year to help each other out. Having a tech-mentor would be awesome! đ
carmen
Hi Carmen,
Thanks for your comments! I intentionally did not explain this because Chilean education system is different from the system of North America. So the “public schools districts” criteria would not apply. But I am targeting to public and private educational institutions. The timing of implementing the projects takes place during the academic year and last about 1-2 months. Trainers are able to visit the classroom and think on designing an activity that meets the needs of that classroom. When the trainer come up with an idea, he/she will assist the teacher and students in the management of the technology that will be applied. So, everything happens in the classroom and in the hours devoted for non teaching curricular activities. The innovative thing of this service is that the teacher is assisted both in technology and theory by an expert in both fields. The teacher is being accompanied by a mentor during the time-frame of implementation of the project. As here in Chile we are few who have been preparing in the field of technology and education, we have to start with few costumers. But I think that by having 9 costumers (1 per month) by year we could be receiving incomes and try to expand.
Cheers,
Angela.
Hi Angela
I like your value proposition. You have done a great job with the presentation. Your pitch highlighted the pain point and solution clearly. Competitors were identified which is good. You also mentioned a differentiation strategy where you would offer pedagogical support, but you did not state “how”. I think this would make the venture more appealing since this is a factor that would make me invest in your venture over another. I would also love to hear some more about how the concept work. I was not quite sure of the target market. I think this needs to be clearly identified. Based on the cost, it seems that this venture is poised for success, however I would need some ideas in terms of timeline for returns on investment if I decide to invest. Again, your venture preposition is good and is worth pursuing.
Keisha
Hi Keisha, thanks for your great feedback! Much appreciated.
About your queries I think that the response is on the answer I gave to Carmen (please refer to the message above).
Cheers,
Angela.
Dear Angela,
I am really impressed with your elevator pitch. Well done. Catchy. To the point. đ
I will not reiterate all the comments that have been previously made but I will say that I agree in that this is a great service . . . and one that would find a niche not just in the Chilean school system. Hats off to you for a great presentation.
Michelle
Thanks for your comments Michelle! đ Much apprecieated.
Cheers,
Angela.
Before you publish your posting, please make sure that you select a category (eg. Introductions) as well as assign some meaningful tags (keywords).
Kristopher 12:10 pm on November 28, 2011 Permalink | Log in to Reply
Hi Emily,
Excellent idea! There is a huge market that can be cracked into in large chunks (at a minimum entire classrooms instead of individuals). I very much like the idea. While I had some challenges with quality of video (pretty sure it is my system), I was curious about your decision to use Prezi. I am a huge fan of Prezi, but opted out of it because I didn’t want the viewer to have to click through. I quite liked your balance of a self-playing video, with additional information available through the prezi format.
Kristopher
jarvise 11:35 am on November 29, 2011 Permalink | Log in to Reply
Thanks for the feedback. I wasn’t going to use prezi, and had made it in powerpoint, but then realized that you can’t (or I can’t) export powerpoint with animation. What’s up with that? Anyway, I had to re-think how to do it, and prezi seemed like a good idea. I wanted to have the video playing throughout with images and words coming through at the right times (but still able to see video). I never found a satisfactory tool to do it. Crazy.
Jim 6:35 pm on November 28, 2011 Permalink | Log in to Reply
Hi Emily,
I really like your idea of a kind of managed, value-added tutoring service… once that provides that tutoring itself but also the coordination of that service. Having been a tutor myself during the off hours of the first ten years of my teaching career, I was curious to know how this would look in your elevator pitch. I think one way you could strengthen your elevator pitch would be to highlight clearly by concisely why your service is unique. That might involve explaining the three Ps – positive, practical and personal… how does your service accomplished this better than traditional tutoring services? Why, as a prospective parent, would I be willing to pay a little more for your value-added tutoring service than a run-of-the-mill tutor?
jarvise 11:37 am on November 29, 2011 Permalink | Log in to Reply
Hi Jim,
Thanks for the feedback. I found it very difficult to select what to highlight in the elevator pitch. I wanted to give a quick idea of why this is needed, what it is, where the market is, and how it could make money. A lot to fit in. I spent a lot of time cutting back on product description, thinking that the goal was to draw in an investor to take a look at the venture pitch, where the product would more fully be described.
Emily
Everton Walker 8:54 pm on November 28, 2011 Permalink | Log in to Reply
Jarvise,
I like your line of thinking as you didn’t take on the obvious. To include those critical stakeholders and improve communication is paramount in today’s learning environment. However, I just wanted to know more about the mode of delivery and any added value the service will have. We are in a competitive environment so I know you will be innovative in what you have planned to capture a share of the market and maintain it.
Everton
Juliana 9:11 pm on November 28, 2011 Permalink | Log in to Reply
Hi Emily,
Your venture really opened my eyes. I knew that there was a tutoring market, but I would have never thought of cracking it in the way that you suggested. I also liked how you laid out the ask, the marketing and the return. I think these are all important parts of the pitch and they can help to sway an investor. I also liked how in your venture you decided to personalize things not only for the student, but also the parent.
I like in your presentaiton how you made everything look like a chalkboard, but I thought the panning was a little distracting. Also in your elevator pitch I thought you spoke a little fast. Although I can understand why…you only have a minute and you need to get everything in. I will admit how you were able to say everything that you wanted to say in one continuous take. When I was doing my narrations, I was stumbling over my words constantly (along with hacking and coughing), so it took me a while to put everything together.
Juliana.
jarvise 11:42 am on November 29, 2011 Permalink | Log in to Reply
Hi Juliana,
Thanks for the feedback. Narrating the video was very difficult. I have many, many takes. It got easier as time went on and I got more comfortable in front of the camera. I’m very shy, so I had to pretend that I was an actor playing the part of an empassioned entrepreneur. If I approached it as myself, I was too uncomfortable. I think my acting was OK. Funny, eh? I also realized after a number of takes that you can crop your video from either end, so I didn’t have to sit posed waiting to push the start button. I just acted normal, pushed start, then got myself composed while taping. This assignment took a ridiculous amount of time. Thanks for the positive response!
Emily
Juliana 5:54 pm on November 29, 2011 Permalink | Log in to Reply
Hi Emily,
I can totally understand how you felt about the narration. It can be especially difficult if you are a shy person. Kudos to you for doing a good job! I never got the sense you were shy at all. In fact you exuded a confident presence.
I do remember reading somewhere that if you are going to present or give a talk somewhere, what you need to do is get into the mindset that you are a host and your audience are a bunch of people coming to your house for a dinner party or get-together. By putting yourself in the mind frame of the host, you take on the role of being a caretaker of your audience and it is supposed to alleviate any pressure or nerves you feel and allow you to give a better speech that allows you to connect to the audience.
I thought that was an interesting way to do a presentation. I think I will try it the next time I have to speak in front of a group of people. I couldn’t do this for this project because I felt so sick I just wanted to get through it without hacking up a lung đ
Juliana.
Allie 6:11 pm on November 29, 2011 Permalink | Log in to Reply
“In fact you exuded a confident presence.”
I totally agree with juliana!
schiong 11:49 am on November 29, 2011 Permalink | Log in to Reply
Hi Emily,
I am familiar with the concept of tutoring. My partners and I franchised Enopi (similar to Kumon). This is why I was curious about your project.
I reviewed both the elevator and venture pitch. I want to make sure I don’t miss any good stuff.
There were few questions in my head while reviewing the pitches …
a) How do you intend to implement this?
b) What would make your product different from a tech savvy tutor who might use blogs, Moodle, or any other open source platforms?
c) I believe most ideas are unique only for a moment. Once the idea goes public, others would imitate. So, what would be your next step once you get the funding? how do you keep the business alive?
Overall, I love the presentation and the concept.
cheers,
Stephen
jarvise 9:09 am on November 30, 2011 Permalink | Log in to Reply
Hi Stephen,
thanks for the comments. I think that what sets this business apart from other tutoring services is that there is no tutor, per se. The idea is basically that we are providing support to parents to do the work with the kids themselves. One of the key ideas I came across in research is that parents who seek tutoring continue to spend more time on homework with their kids than others (generally). So by providing focus to the time they are already spending, they can save money and time.
As far as implementation, the plan is a completely online business, so basically once a parent hires the company, we would go about initiating contact with the teacher, etc. One weakness I have thought on extensively is what to do when a teacher is unresponsive. One possible way around this is to have a parent send in a copy of the most recent report card, since this should be itemized by outcome anyway. Part of getting teachers on board is to warm them up in an initial contact describing our service as an extension of their efforts to help their students, and to position them as the ‘experts’ – we are just providing some extra work based on their recommendations. I know I would have welcomed this as a teacher; but there are definitely those out there who would be threatened by it.
Emily
Allie 6:09 pm on November 29, 2011 Permalink | Log in to Reply
Hi Emily,
I think this is a really intriguing concept, and nicely presented too. I had no idea that tutors were so prevalent – why do 20% of parents who want tutors not get them? Is it a $ thing? Just from your EP I was thinking three things. I think that the video is maybe a little too jampacked. Maybe the opener about parents wanting to spend time with kids and changing modes of assessment could be taken out to save time? I wasn’t sure how they fit into the overall concept. I was also wondering what the tech would look like and how it would work. if schools would be subscribing to this service, I’m wondering about the relationship between schools and tutors; is it a positive one? I’m just thinking, if institutionally subscribe to a private tutoring service to facilitate communication with parents, does that turn (public) schooling into more of a public private partnership (the other ppp…), with tutors having a greater role in pedagogical concerns? The question I have as an EVA is about whether the broader community would be warm to that. In BC, there’s a lot of concern about moving public services to P3s – especially when it comes to essential services.
jarvise 9:14 am on November 30, 2011 Permalink | Log in to Reply
Hi Allie,
Thanks for the comments. The idea is not for school subscriptions (I don’t think it would fly, since essentially we are extending into what would traditionally be considered teacher’s duties; unfortunately, the reality is that teachers don’t have enough time to create personalized extra work for every student based on what that student and their parents prefer…). The idea was to have parents subscribing to the service. I don’t think that most traditional schools would be open to paying for this. The idea was to target parents, who have already shown a willingness to pay extra for education.
The whole ‘parents want more time with their kids, and don’t understand the school system’ part was to position the product as something that is marketing to parents based on these needs. The second (alienation from the school system) has been an impetus behind seeking tutuoring. The first, though, is basically what differentiates our service; through having the parents working directly with their kids on the material, they are getting more time engaged with their kids, and are not spending additional time taking them to external tutoring services.
… I thought of the ppp connection too… đ
Emily
Tamara Wong 6:56 pm on November 29, 2011 Permalink | Log in to Reply
Emily,
Great concept! I’m not very familiar with working with children but from my limited experiences with this market, your idea seems valuable. Your pitch was very well researched and persuasive. I had no idea that the tutoring market was so large! I also liked your use of the prezi as your elevator pitch. It enhanced your you tube clip well. Your venture pitch was great and the use of the chalkboard theme is clever. While I was watching your pitch I kept thinking of questions and as soon as I thought of one it was answered. It was just -in- time information for me! The only question I was left with was how do you plan on getting the teachers on board?
I liked the way you approached the making of your venture pitch. I too struggled with making mine. I didn’t think of trying to act, it is a great solution. You sound confident – like you know what you are doing and I didn’t get any feeling that you were a shy person! The only problems I had where your talking was a little fast and with a cold in my head I had some difficulties keeping up.
jarvise 9:19 am on November 30, 2011 Permalink | Log in to Reply
Hi Tamara,
Getting teachers on board has been an ongoing concern of mine as well while thinking this one through. I think that by initiating contact with a message that basically posits them as the ‘experts’ who are overworked, we send the message that they are a valued part of the process, and that basically we are just looking for a few seconds to click off which outcomes need more work. We will then support their efforts in the classroom through supplemental targeted exercises out of the classroom.
I was thinking that for those who are resistant, there is always the route of asking a parent to send in the last report card, which would have itemized outcomes on it anyway. In addition, students standardized assessments (and any other assessments) should be available to parents from the school if they ask. This is another possibility. It would, however, add time to the process.
Emily
Kristopher 10:05 pm on November 29, 2011 Permalink | Log in to Reply
Emerging Venture Analysis: PPP
In order to analyze the potential of the PPP venture, we will consider both the internal and external positives and potential negatives.
Strengths
The PPP venture is a clear product which is flexible to the needs of the varied relationships and types of students; it brings together already existing relationships that are typically segregated due to time constraints. It facilitates the conversion of good intention of the parents and teacher to action. This venture has clear goals for the future which enhance the pitch substantially. In addition to these strengths, it also maintains the learning experience throughout the summer.
Weaknesses
This venture relies on the existing players (parents, teachers, and tutors) taking on additional tasks in order for it to be successful. This inherent reliance on others may increase engagement of those players, but it is still additional task, meaning that the success of the service itself lies in the uptake of the usersâa large variable.
Opportunities
This venture fills in a need that exists in all parent/teacher relationship. As parents wish to become more engaged in their childâs education, it is important that that channel be facilitated; an obvious application of modern learning technologies. As well, as tutoring grows (5% per year in the United States), there is a huge market that is currently untapped. By making that engagement process between teachers/tutors/parents easier, this venture is able to tap into that market.
Threats
This venture relies additionally on the growth of private tutoring; according to the pitch, there are many other private tutors appearing with strong client based (Kumon, Sylvain, etc.). The tutors already have established processes, so will be in direct competition.
Based on the changing nature of parent engagement and increasing connectivity, I would recommend this venture for investment.