Display Recording App
I have provided the links below to my elevator pitch and venture pitch for a proposed display recording app. I have a few things to tweak but hope you enjoy it…..
Elevator Pitch
https://www.youtube.com/watch?v=Mqvr7BLGSjI
Venture Pitch
https://www.youtube.com/watch?v=jMSNz9c5YzE
Looking forward to feedback,
Manny
Posted in: Venture Forum
Lisa Nevoral 1:21 am on November 26, 2012 Permalink | Log in to Reply
Hey Manny,
Your elevator and venture pitch state that “this video is private”. Just thought I’d let you know.
Lisa
manny 11:25 am on November 26, 2012 Permalink | Log in to Reply
Thanks Lisa,
I will change the settings right away.
Doug Connery 10:46 pm on November 26, 2012 Permalink | Log in to Reply
Hi Manny:
Great project, you have identified a gap in the market based on the costing structure alone. This type of venture is not in my interest area, however if it was then I would look closer at it.
Good luck.
Doug.
Colin 10:20 pm on November 27, 2012 Permalink | Log in to Reply
Hi Manny, good job on the presentation and I do agree that the price they are presently charging is too high to be considered by an educational institution. Especially if they have to spend this for every single Ipad that they have. I also agree that the number of downloads would go up as a result of making it free. However, I don’t know if the app would make enough money by just using advertising as this often doesn’t produce much money. I have ran some websites based on advertising revenue but the statistic is one click for 0.09 for every 100 people. I am not familiar with the app advertising market but I don’t think it is that much better. Also you are faced with the problem of making your app annoying to people by placing large ads everywhere or reduce your revenue by only having smaller ads. The idea of a lite and deluxe version is more of a possibility with advertising on the lite version and limited features. I like the idea of the app but I don’t see it as a money maker. In addition I just went on Google and 33% of developers use the advertising model and their average revenue is $1498.00. You would really have to look at selling many different kinds of apps to create a good monthly return.
http://www.fiercedeveloper.com/story/vision-mobile-average-mobile-app-revenue-under-4k/2012-06-25
Cheers, Colin
manny 1:45 pm on November 29, 2012 Permalink | Log in to Reply
Hi Colin,
I clearly need to conduct more research within the revenue capabilities of in app advertising. Ultimately, simple supply/demand economics would indicate that revenues are directly proportional to the popularity of an app. If I was to make this app a paid app, the pricing would be tricky to determine because if its too high, then no one will purchase it. Thanks for your feedback, it opened my eyes to both revenue options.
teacherben 7:11 pm on November 28, 2012 Permalink | Log in to Reply
Hi Manny. I enjoyed watching both videos. I applaud you for being ambitious and using the green screen. You showcased your technical skills. The CEO comes off as likeable which should not be underestimated. If you are a fun and friendly guy, put yourself front and center. If I have to work with you and trust you with my money, it’s easier if I can get along with you.
I am always cautious of products that target the education industry but rely on advertising to generate revenue. Many educators are uncomfortable with this and I think in general, would prefer paying for a useful app to ensure that students are not exposed to advertising in the classroom.
While I think it’s important to let people know upfront about the competition, you may have gone over the top a bit. The elevator pitch dedicates almost a third of it’s one minute to discussing the competition. You could have used some of that time to give us a little more. Also, in your venture pitch, you point out that Apple missed an opportunity to include this useful feature into iOS 6. This is dangerous ground for you to tread. For example, with the release of iOS 6, Apple introduced emoticons into the system. Then, they booted all the 3rd party emoticon apps out of the app store. If Apple chooses to include this feature in their next update, they could do the same to you.
You did a lot of useful research about the app markets in general and I enjoyed watching that and learned quite a bit about app development. But I think you needed to be a bit more focused on your specific product, what will differentiate it, the market need, the target user etc…
So, while I would agree that this is a good idea and that there is good reason to consider taking it further, I don’t think I would invest in this venture at the present time.
Incidentally, if you do believe in this idea and want to get it off the ground, you could get it done for you fairly cheaply by checking on odesk and contracting out the job. There are lots of great programmers in less affluent parts of the world that will do your programming for you for under 5 bucks an hour. I bet you could get this to market for a few hundred bucks. Hire one person to do the programming and hire someone else to do the artwork and you are good to go. Apple provides a lot of resources to get your app into the app store and make it very easy to enable in-app advertisements.
Good luck!
manny 1:39 pm on November 29, 2012 Permalink | Log in to Reply
Hi Ben,
Thank you for the recommendations that you have made, it is difficult to argue against them. The hardest part of this assignment was the elevator pitch and I was worried that I may have spent too much time on competitors. Your comments have validated that and in retrospect, I should have focused more specifically on my product. The 1 minute limit made this part of the assignment very difficult to portray the main ideas clearly and concisely.
Manny
jameschen 3:58 pm on November 29, 2012 Permalink | Log in to Reply
Hi Manny,
I enjoyed watching your elevator pitch. Your explanation of the differences between paid and ad-based apps is very informative. I had not realized that Jing was not available on the iPad, so there is definitely a need for free screen capturing apps on the iPad. Then I wondered how advertisements would pan out when the images/videos are captured. Would there be ads on the captured images/videos? As an investor, I would be interested to find out more about the product through your venture pitch if there was a product that has already been built (fictional or not), because from an investor’s perspective to invest in something that is still in the development stage is risky since the market has not yet been tested.
Thanks for a good presentation.
James
cunnian 12:08 pm on November 30, 2012 Permalink | Log in to Reply
Hi Manny,
Good job on the elevator pitch. Much of your time was spent explaining how your product is different from others. I think that this was time well spent as it is critical to the success of this pitch. The venture pitch itself elaborated on these differences and nicely informed potential investors of how the different revenue streams work in the app world.
While you’ve made a convincing argument about how in-app advertising would provide revenue, as an investor I am wondering where this advertising would be found. If you are doing screen capturing, clearly the ads will not be on the screen while you are recording. Being that users will be spending most of their time in the app recording, they won’t see the ads.
You speak very confidently and you’ve done your homework on how to make your money, but I think that there’s still work to be done on the product itself.
Thanks for the great pitches!
manny 5:51 pm on November 30, 2012 Permalink | Log in to Reply
I was thinking that the ads would be in the actual app when you open it. The way display recording works is that it doesn’t record the actual app but rather what you do on your display. Therefore there would be no ads in your final recording, they would only be seen in the background when editing the video. Now that I think about it, advertising is perhaps a bad way to go about this when pitching to investors because it really depends on the popularity of the app. It is a big risk to take but also can yield big rewards.
melissaayers 1:36 pm on November 30, 2012 Permalink | Log in to Reply
You really aimed these pitches at EVAs great work Manny.
Great idea and identification of a market opportunity. You identified the pain point (price) and gave detailed coverage of other apps currently on the market. You clearly describe how you are going to provide a product that has a value proposition (free vs 9.95) and how you are going to achieve this. Definitely an example elevator pitch which made me continue to your venture pitch to learn more.
However, after the research I did for my own venture pitch I discovered how hard it is to market an app in the current online marketplaces. How difficultl it is to get an app featured and the generally huge cost in marketing required to get apps in the top listed. For this reason I probably would not invest in your venture despite your excellent pitches sorry (neither would I invest in my own for similar reasons in the end I think).
Thanks
Melissa
manny 7:04 pm on November 30, 2012 Permalink | Log in to Reply
Considering my projects/papers thus far in the MET program, this venture assignment was the most challenging and yet fun activity I have completed. Upon reflecting on both my elevator and pitch proposals, it was evident that they contained many strengths and weaknesses. Upon completing the two pitches, I did have a few reservations in mind; these were then validated through the feedback that was provided by my peers.
Elevator Pitch
The elevator pitch production by far was the most difficult section of this assignment. The one-minute time limit became the enemy and really made me think about what it is that I want to convey. Given the circumstances, one needs to sift out specific details and get to the point in a clear and concise manner. I think a strength within my pitch is that I identified a void within the current marketplace. Unfortunately, I may have spent too much of the allocated time discussing the competitors when I should have regained the focus back to the product. I also had lighting issues when using the green screen function that took up valuable time and numerous takes. Overall, I am happy with the content of my elevator pitch as I felt that I left it all out there and in this scenario, it is the most important thing you can do.
Venture Pitch
This production also required critical thinking in how to best tell a story about your product that makes sense and would convince an investor to part with their money. I think the visuals that I provided throughout the pitch helped in keeping the potential investors engaged with the idea. I tried to come off as confident as possible as I really do believe that such a product could really take off. Upon submission, I was a little skeptical of whether I had explained the revenue structure thoroughly enough. My main focus was on introducing an ad-supported app that would raise revenue through advertising versus one-time user pay apps. I think I should have done more research in this area and presented actual figures rather than trends.
In conclusion, if I were to go back and do it again, I would tweak the weaknesses mentioned above. What I have realized is that regardless of the pitch that is proposed, one will always have regrets. There really is no such thing as the perfect pitch and it is a phenomenon that is dynamic and can easily change with the audience. It was exciting to step into a venture capitalists shoes and this assignment allowed me to gain an appreciation of a world I am not too familiar with.
adi 10:41 pm on November 30, 2012 Permalink | Log in to Reply
Sorry for the late post. I have had sleepless nights completing other assignments. I do apologize and mean no disrespect.
I am going to base my feedback on what we saw in week 3 regarding the content of a venture pitch(Perfecting Your Pitch).
1. Pain Point: the market gap or problem the venture is addressing
– There is a market and not many options out there.
2. Solution: the new product or service that resolves the pain
– Offers a free APP and 2 versions (light or Pro), depending on whether the buyer wants advertising or not.
3. Differentiation: the reason someone will buy or use this new product or service, versus the alternatives
– Yes, a difference in price and what the APP can do.
3. Marketing: where and how buyers/users will be reached
– Has very good knowledge of both the Android and IPad market, and how it is changing.
4. Championship: the competency of the venture’s leaders and advisors
Does not mention them, but he comes across as knowing his market and product well
5. Competition: an overview of competitors and partners
– Good overview
6. The Ask: how much money, etc, is required to take the next step
Yes, it’s clear; through advertising
7. The Return: how much and how soon will an investor be recompensed
– Not in detail
8. The Message
– Well presented, with confidence and showing thorough knowledge of the market and product.
This was a very well researched and presented venture that I would invest in. My only worry is the fact that the next generation of phones will no doubt soon offer this as a feature. However, you appear to be ahead of the market, so should that happen, I am sure you will find a new App to offer. Well done Manny! Great work!
rebeccaharrison 6:02 pm on December 1, 2012 Permalink | Log in to Reply
Manny,
I apologize for the late post as well.
I agree that this is an awesome idea, and I am very interested in it, but was on the fence about whether or not I would invest. I appreciate that you clearly laid out your position in the elevator pitch, and were explicitly gearing your information towards investors. I decided against investing, purely based on the fact that it seems difficult to create the revenue. I believe that the app would be widely used, however, I’m not sure that there would be much return. Great work on both videos!