I recognize both pitches to be the elevator pitch. Clear, concise and to the point.The presenter in the edufire pitch appeared pleasant but a little too laid back to grab my attention or stimulate much interest at the offset. But after listening to him a couple times I was able to identify the problem he […]
Continue reading Edufire and Evernote Posted in: Week 03: Analyst Bootcamp
Evernote: The pitch was presented in a clear and confident way. As he spoke I discovered a hole in his idea, and I was ready to dismiss him, but he quickly comforted me with valuable information. He did, however, lack a clear “Ask.” What does he want or need? Everything already sounds finished, so how […]
Continue reading Evernote, eduFire, and DuckDuckGo Posted in: Week 03: Analyst Bootcamp
Although I am aware that this is an elevator pitch there are a few issues that I need to address before I would consider investing in this product. The idea is good. It makes excellent use of cloud storage and internet access to provide what in theory is an excellent product. I do not believe […]
Continue reading Evernote Critique Posted in: Week 03: Analyst Bootcamp
http://www.silicon.com/videos/view/sixty-second/60-second-pitch-identity-verification-60725972/ I chose to critique a venture pitch about VoIP as our school district recently changed over to one. ShoreTell’s pitch to the panel of experts from Silicon.com was interesting. It’s actually quite amazing how quickly 60 seconds goes by and ShoreTell’s Mark Swendsen is caught up by the short time. However, he does manage […]
Continue reading VoIP Venture Pitch Posted in: Week 03: Analyst Bootcamp
I also found this pitch to be very interesting and I really enjoyed the way he started out asking the panel questions about the current market. I agree that he is a confident speaker and speaks very clear! Great fine!
****Great Find!!
I noted that he spent 20 seconds just on the pain point of his pitch..he had too many possible problems listed (and he spoke slowly through this part) so that he had to speed up so significantly that I had difficulty understanding him…and he still didn’t get it all in. He needed to find a more succinct way to state the pain point – a single statement that summarizes his list of issues that his product will solve. Another note: the audience looked like a team that would not be easily impressed by any pitch! Or is that just me thinking they looked grumpy?
Hahahaha! I thought they were grumpy, too! And I didn’t think they were going to give him the green light, either.
I also think the panel looked grumpy, especially the one on the far right. I wonder if they are actual CEO’s. As for the pace of the speaker, if you just listen to the pitch without watching the video, it does seem to me that he was speaking too slowly. However, if you look at his facial expressions, it seems that he was calm and was genuinely trying to see if his product could be a solution to the panel’s problem..
Interesting pitch. Even though he never came across as being confident, he was knowledgeable of his content due to the manner in which he answered the questions posed at him. Even though I am not a businessman, I would certainly follow up on this venture as it seems to be credible and workable.
For those of you that might watch TV shows like “Dragons’ Den”, keep them in mind for these panel-based pitches. While both aim to be “real”, the dynamic of having the pitch/response recorded significantly alters how the venture capital (VC) people behave. In the end VCs thrive on self-promotion, so they’ll all be projecting their own unique persona as much as possible.
When you pitch a venture, you might be part of a public presentation like these, or you might be part of a closed-door session with a panel of VCs, but by far the most often you’ll be one-on-one with an individual. That makes for a different kind of pitch, much more personal in context. As VCs tend to be a tight-knit community, if one is unsure of your pitch he/she will likely ask you to also pitch (individually) to one of their colleagues who might know your opportunity space better. Then they’ll decide between them whether one or both may go further with you. It’s a very “social” process.
David
Thanks, David. I actually kinda wondered about the “socialness” of it and if they all knew each other or at least each other’s reputations.
EduFire’s elevator pitch grabs the perspective client’s attention right away by creating two scenarios one for perspective students and one for perspective employees. At first glance, the concept of EduFire seemed relatively clear and concise as the company provides one-on-one training through live video learning. However, when I looked at the pitch for a second […]
Continue reading EduFire Critique Posted in: Week 03: Analyst Bootcamp
Hello! I totally agree. Edufire left me with far too many questions and as a result, I couldn’t buy in to the product.
Verena:)
Hey Ashley, I really like the way you have set up your pitch critique: using bullet points is always a good way to show important information.
After watching this pitch, I too was left with too many questions which threw me off of the product.
Jenaca
Hello Ashley,
Like you I was left wanting more information, particulrly on cost, and on the team of persons involved. You made an important point in that there needs to be a focus on on what makes a product different.
Kerry-Ann
Ashley, you raise some great points. First and foremost, it was completely unclear to me why someone would actually want the product that they are selling. Having said that, perhaps this kind of thing is more pointed towards clients in the US or international clients, like from Asia perhaps. I think this is more of a product pitch as opposed to a VC pitch. Following on this, I like how you point out that we have no idea as to who is behind EduFire.
It’s an interesting concept – providing 1:1 learning, particularly in language studies or learning a new language. The speaker appeared very believable and was passionate in what he believed in. The concept is captivating – providing just-in-time learning to the learner, while taking a small cut from the person providing the learning. As you pointed out, there are unanswered questions one in which they would likely love to tell you about if given an opportunity!
The edufire.com elevator pitch didn’t include a clear pain point but did purport to have “built the open market place for live video learning.” Sites like YouTube, Vimeo and Teachertube offer similar services but there is no built in method to control and monetize content views. Perhaps, this is what edufire.com is attempting. If so, […]
Continue reading The edufire.com elevator pitch didn’t i… Posted in: Week 03: Analyst Bootcamp
Sorry if it seems short – I tried to keep it to about 100 words as the assignment indicated… which was not easy. I guess I might be able to express other ideas in my comments to others’ critiques.
I thought it was 200. That being said, I think you got your point across even with the challenging extra level of succinctness. It’s kind of like these elevator pitches, or Gladwell’s book, Blink. We can often make our opinions instinctively on people, situations, and problems within the blink of an eye. I had my opinion of this chap the second he turned his head and said the first word.
You are correct at 200 words. I must have been in some parallel universe when I did that… 😉 I’m going back to add a bit more then…
I know what you mean about him turning his head. I immediately asked myself, “what was he just looking at and why is he almost laughing?” His delivery is quite smooth, which is not a problem for me, but that smile at the beginning colours the rest of it and casts a slight condescending shadow over the whole pitch…
Hi Jim,
You raise an interesting point when you said “the biggest obstacle will be competition from accredited tertiary institutions that offer bona fide experts and recognized accreditation upon course completion.” I’d be curious to know how they check the credentials of their teachers. I also wasn’t clear on what level of education they’re focused on (K-12, higher ed, continuing ed) and also whether or not the primary product is “extra” tutoring for students already studying the subject.
Thanks for an interesting post!
Andrea
Hi Jim,
Great point on competition from accredited bodies. This is information I would definitely like to see addressed in a pitch.
Kerry-Ann
hi,
I think what they are offering is just the infrastructure and payment system…something like AppStore on internet.
I visit their website and there was no “spark”.
I speculate that the online educators would earn through “subscription/enrollment”.
I noticed that there are several teachers offering the same courses/topics… and some have ratings.
Really great and well written review, and like you, I was also left wondering who the learners would be and what they would be learning? My *impression,* like yours, is that it’s about the lifelong learning trend. It would be a good place for, say, a sewing instructor to teach techniques to interested students.
I like how you really show how they give a sense of who their competitors are – and concomitantly, what exactly it is that they are offering.
Not to be romanced if I believe in the product itself: comparing the pitches for Edufire and Evernote. Edufire Edufire had really great catch phrases/concepts that quickly grabbed attention and put their product in a sphere for potential demand. For example: ‘Worldclass teacher’ (quality), ‘caters to both teachers and students (wide pool for potential […]
Continue reading Not to be romanced by the product itself. Comparing the pitches for Edufire and Evernote. Posted in: Week 03: Analyst Bootcamp
Hi Henry, Great critique. You’ve noted lots of elements that should be considered when presenting a pitch. The concepts that are used and the forms of expression are relevant issues to consider. The CEO must be attractive. But also, the content is important too. the quality of the information about the product (costs, how it works, what it works with, etc.) and the people behind it is relevant. I keep thinking how difficult is to achieve all these things in such short time of presentation.
Angela.
Hi Angela,
Thank You. I also thought about the difficulty of fitting all that information in in such a short time. This exercise showed how much you can say effectively and efficiently in a short time. I quite like the idea of being able to zero in on your product and key elements. Getting rid of the fluff. It really shows if you really do have something unique to offer.
Kerry-Ann
Nice comparative critique, Kerry-Ann! As for the ‘how much to fit in’ question, I’m reminded of editing and grading student essays where I routinely strike out the first two or three sentences, and midway down page 1 write “start here.” The Edufire guy could have saved himself some time by jumping immediately into live video learning, and why that is good/effective/marketable rather than the “do you want to teach/learn in your own home?” line – because the being at home piece is part of any online learning environment.
Hi Henry,
I like the way you present your case…
Actually, the title itself is already catchy … it made me want to take a look at the article.
I admire the presenter. It is not easy to be pitching … especially to a wide range of audience.
Hi Schiong,
Thank you. You highlight an important point in the difficulty of pitching to a wide audience. The presenter did a good job indeed.
Kerry-Ann
You raise an interesting issue, Henry. If we were to present a pitch in the given time frame, what elements could we include that wouldn’t use up valuable time, but that work to hook the customer/investor? Is the hook more important than giving a complete rundown of all details? I know that some of the pitches hooked me, but as I was unclear about what they were all about, I did look for further information online. Compare that to a one minute pitch that is dense with pertinent details, but so dry and boring it is forgettable, even if the idea has merit.
I like the way you used a comparison to highlight strengths and weakness. Great job!
KJ
Hi KJ,
Thank you. I also considered the essential elements to be included in such a short time. I like your additional spin of who are we hooking and what will hold interest. It’s definitely not an easy ride in that elevator.
Kerry-Ann
Kerry,
I analysed Edufire and like you I would give it a second look because of the catchy phrases that were used. It also contained information that is current and also features prospective learners would want to be a part of a web-based course.
Keisha
Hi Keisha,
I did find information on features a plus for edufire. However, as an EVA I felt I needed a bit more information in the pitch. The challenge I guess is to know what to include and who we are targeting in our pitch.
Kerry-Ann
Kerry, I liked your focus on language – almost like a magician’s subtle sleight-of-hand (well, mouth) movements that distract you from what you think is actually going on. The choice of language is not accidental, to be sure.
Hi McQuaid,
Thank you. Indeed I found the language quite magical as you put it. It is like watching these paid commercials because everything seems and sounds so good that we really have to wade through them to say do we really need it and/or will it be extremely beneficial or profitable for us to have and/or is there a cheaper way/alternative? Similar questions came up for me here and the language was indeed a key element in this.
Kerry-Ann
eduFire Elevator Pitch – https://www.youtube.com/watch?v=j4yvnSAoTog&feature=related He started with what I would consider as “wishful thinking”. He got my attention at that time. In my mind, I was thinking… “Yeah, that would be nice.” or “I’ve never thought of that. It’s just common sense. How come I’ve never thought of that idea?” The general idea […]
Continue reading My take on eduFire Posted in: Week 03: Analyst Bootcamp
Hey, I think you have done a great job critiquing this pitch! You’ve included wonderful details about eduFIre and definitely got my attention. After watching this pitch, I too was thinking the same things as you and was left with several questions about this company.
I would have liked to see more information about the market their currently in and more details on education itself. I was a little distracted by his smile, I thought at any second he was going to burst out laughing!
Thanks. Your last statement made me laugh. The presenter reminds me of a comedian … who is about to give the punch line… while trying to resist laughing.
I definitely like the concept even though some important information is actually missing. Then again, how much can really be presented in a minute? However, as a teacher, I like the idea of exposing students to the best tutors around the world and the flexibility teachers will have. This is a venture that can be developed especially in an era where online learning is fast becoming an emerging force in global education.
Everton
Good critique. I also had many questions after seeing it; for example, who exactly are they seeing as their target market? You can just say people who want to learn and expert teachers who love to teach. That is too fluffy but I suppose that is why it is an elevator pitch. I was not sold on the idea at all… to many other similar type of sites that already make saving and sharing videos easy. True, sites like YouTube lets everyone see a video, and YouTube monetizes their videos as a result of views and favourited counts combined with ads…
The more I look at our critiques, the more I appreciate the pitches for what they manage to cram in. Not even counting what was already in the video, the seven things in your wish list would each only get between eight and nine seconds of air time in a minute. You’d have to be an auctioneer to nail one of these things fully / completely!
The pieces that edufire did miss….like who the key players are….are pretty important though. I agree that you can’t get everything into a pitch…but it’s choosing the key points that leave the “viewer” with a sense of “I want to know more” rather than ” I have too many questions..” is the key for a pitch.
Great critique!
Verena:)
Hello Schiong,
Great questions! I also had concerns when viewing this pitch. I agree with Everton and McQuaid in the difficuty of presenting so much information in such a short time. But, like yourself and Verena these were some of the critical information necessary for a successful pitch.
Kerry-Ann
GENERAL REACTION TO PITCHES I watched two dozen pitches on silicon.com and noted my reactions. I need a clear description of the problem. I don’t care about lists of features, jargon or broad, vague claims without specific use cases. I don’t trust pitches that claim to be the solution for everyone. I want to understand […]
Continue reading Webroot – Problem and solution attract further inquiry Posted in: Week 03: Analyst Bootcamp
Wow! 2 dozen pitches viewed? That would really give you a sense of what is working and what is not. I watched a few video pitches prior to this discussion and was amazed at the poor quality of some of them…what were they thinking? As for your review of Webroot, I was intriqued at first as you described the main ideas of the pitch…but you make a good point at the end about long term risk..you are right – it is not worth the risk to have to replace your software later when budgets are unpredictable.
You chose a great pitch to review and I agree that while Ian Moyse doesn’t project a whole lot of enthusiasm, he clearly outlines a problem that his company can solve and provides pin-point answers to every question asked to him by the panel. He displays confidence through his composure and knowledge base. In my opinion, one of the better pitches on this site. Thanks for sharing your critique.
Moyse definitely came into his own answering the questions, but he was fairly nervous during the sixty seconds (which is fair enough). I think his credibility increased substantially as the Q & A continued.
I didn’t get from his description of the gap what his team brought to the table; I am not convinced that his company is the best one as there are many external IT companies out there. It may be that I didn’t understand how his was different, but in that 60 seconds, I would have turned away.
Thanks for the post!
Your analysis shows insight and a familiarity with business investor strategy, David. I am really glad you are in our group 11! Illuminating points to consider.
KJ
Two dozen pitches? impressive. i do like how you presented our thoughts by first giving a general summary of the pitches, focusing on a pitch and and itemising your comment on it. You wrote, “I don’t care about lists of features, jargon or broad, vague claims without specific use cases.”
I must say that some of the pitches were focused on features -that was my issue with Evernote, and I found that did not impress me either. On the other hand, jargon i think can swing either way, make or break depending on the audience. I too think that there were a lot of vague claims too and e.g, WEbook and Edufire.
On webroot, I think the presenter sounds like he understands his product/service. I like that he identified pain points and the role expected of IT and narrowed in on that to present their competitive advantage. However, you have done a good job analysing the short term and long term risks showing some good insight on your part.
Hi David,
Great points. I also, from watching the pitches, was able to zero in on the kind of information I find necessary and/or am interested in. I like to know features but as you said presented within the context of practical and specific use. Also, zeroing in on competitive advantage is essential.
A point you raised was the particular audience and that some elements were therefore not discussed. This is clearly context specific and so he knows they type of information to present for this target audience. However, can/should pitches be universal, particularly if they are presented via public media e.g. Youtube?
Kerry-Ann
My initial impression of the WEBook pitch is that it is well presented for a less than one minute pitch. If I would want to know more about any of the 4 examples given, I would incline toward WEBook for the following reasons: The pitch started by Identifying the company and the industry or terrain […]
Continue reading WEbook- Catchy! Posted in: Week 03: Analyst Bootcamp
I am also interested in exploring webook too. Even though she left a lot of questions to be asked, the conviction with which she presented overshadowed a number of the loop holes. The massive figure and the equal split was a deliberate ploy which caught my attention. Even though it is a workable idea, it will not be that easy and that kind of figure and market penetration will certainly take some getting.
I agree with your comment that “that kind of figure and market penetration will certainly take some getting.”
She sure sounded confident enough to make the figure sound like something that would happen easily which is why I asked the question about how long it took to get to 1500 book projects. Is 50/50 share industry standard? or is it he catch phrase to attract her target audience? I wonder. As an investor if she is giving more profit margin that would the regular publishing market, that’s a plus too.
As Everton I am interested in Webook too. About the pitch, I think it is very difficult to succeed and provide all the information that is required about a product in such limited time. But as you, I had the same doubts about the product.
I minute is indeed a short time to provide a lot of information but I must say that she did a remarkable job of it- at least in my opinion. There definitely will be doubts for any EVA I would think; because that is what they are trained to do and that is why the doubts are good as it will help to make the critical decision once properly investigated.
Hi Ifeoma,
I agree with your comments to Angela. An EVA has to be more critial and work with their standardised tools/ guidelines rather than just the romance of the product. It offers standards, credibility and a level plain for critical analysis.
Kerry-Ann
Before you publish your posting, please make sure that you select a category (eg. Introductions) as well as assign some meaningful tags (keywords).
bcourey 10:35 am on September 24, 2011 Permalink | Log in to Reply
I agree that he does a good presentation..As a user of Evernote, I have not run into any software glitches (although I realize there may be some potential at the other end) My only negative so far has been the too-frequent update offers – much like iTunes – I am forever upgrading on either by blackberry or my various computers…I find that quite a pain.
David Berljawsky 8:39 am on September 28, 2011 Permalink | Log in to Reply
Ahh nothing more annoying (well maybe an overstatement) than the constant update. On a side note, what kind of glitches have you run into?
Dave
andrea 10:49 am on September 24, 2011 Permalink | Log in to Reply
“Without advertising I do not see how a free storage service could possibly be profitable, especially if the paid subscription is only 5 dollars per month.” Good point, David. It seems that on the Internet things can be “successful” but not “profitable” (I’m thinking of Skype here, and no doubt there are other examples).
David Berljawsky 8:38 am on September 28, 2011 Permalink | Log in to Reply
Couldn’t agree with you more Andrea. Profitable is not always what online ventures are about. Skype is not almost (if not is) an institution and a notable brand which I suppose it worth quite a bit. They have also expanded and sold their product to devices as well. Perhaps this is the model that Evernote should follow.
Dave
Everton Walker 12:28 pm on September 24, 2011 Permalink | Log in to Reply
David,
Very good and valid points. Probably there is a hidden agenda in the fine-print which is not presented. I too like the idea and will research it some more but I also think presenters should present the venture just the way it is rather than the high level of sensationalism.
Everton
khenry 7:13 pm on September 24, 2011 Permalink | Log in to Reply
Hi David,
Good points. I also had questions on profitability and also on partnerships and functionality. I also would have liked more information as an EVA but it made me wonder just how much and to how many target audiences one can satisfy in an elevator pitch.
Kerry-Ann
Doug Smith 8:42 pm on September 24, 2011 Permalink | Log in to Reply
David, I once saw a projected revenue breakdown for Dropbox. Although they serve vastly different services, both Dropbox and Evernote are very similar: they offer cloud storage for a monthly fee. The numbers were very interesting. By looking at the user base and knowing the current number of premium Dropbox members, the analysis was able to estimate revenues against estimated server costs. It appeared that Dropbox could be very profitable if they were able to maintain a certain (small) number of premium customers. I would expect the same to be true with Evernote. Combined with some improved branding and possible strategic partnerships with large corporations, Evernote could have significant profits.
It has been a year or two since I read the Dropbox analysis, so my memory could be distorted. I imagine it wouldn’t be too hard to find the website via google, if you are interested in finding out more about it.
cheers
Doug
David Berljawsky 8:45 am on September 28, 2011 Permalink | Log in to Reply
Doug,
thanks for the heads up. I am unfamiliar with the pricing of dropbox and cloud services. Food for though, I’ll have to give it a google look.
David.
jarvise 9:03 am on September 25, 2011 Permalink | Log in to Reply
Hey Doug,
Interesting points. It would be great to see what proportion of paid-vs-free subscriptions would be required to turn a profit. Interestingly enough, the whole foot-in-the-door strategy employed by offering free services is a well-documented psychological phenomenon. Apparently, once we take something for free, we are much more inclined to consider the next step up (paying for it plus something else) then we would be without the initial free incentive. Apparently we should remember that “there’s no such thing as a free lunch” and recall the lyrics to the 80s song, “the best things in life are free… but you can give them to the birds and bees… I want money.. that’s what I want…”
Good points about strategic partnerships. We should also remember that our info is generally up for grabs once we sign up for a free service. Even with the disclaimers, it usually says that it may be shared with some ‘approved’ third parties… hmmm.
Check out:
http://www.thesimpledollar.com/2009/06/19/how-the-foot-in-the-door-technique-costs-you-money/
Emily