Hey There Business Pro
Rather than being a Venture Capitalist, I need you to imagine being a member of Deans’ Council of a Post-secondary institute. The two are really much the same as Dean’s, along with Vice Presidents are accountable for spending Tax Payers’ dollars wisely. The friend with $1 million to invest in this scenario therefore is Deans’ Council. I have presented to a Deans’ Council before asking for money for projects and I can confirm it is more like presenting to a Dragons Den than to a friend!
So pick a Dean that you will represent from the list below and get ready:
- Construction
- Energy
- Health and Public Safety
- Hospitality and Tourism
- Information and Communications Technology
- Manufacturing and Automation
- Transportation
- Academic Learner Services
- Educational Technology
- Individual Learner Business
The Dean of Business would be presenting this project so they would not be voting.
I have created the elevator pitch as the Curriculum Coordinator for the Dean of Business to present to Deans’ Council. The elevator pitch is not for an emerging technology, but for a new two-year diploma program that uses evolving and emerging technologies. The supporting written venture pitch could be used to support a decision support package that a Deans’ Council would evaluate before making a recommendation to the VP Academic either for or against the project.
Probably many years ago the MET program was presented as an idea to a Governance Council like a Deans ‘ Council at UBC for consideration and approval. Thus the roots of this MET program are similar to the scenario that I am presenting.
Enjoy watching and listening to the elevator pitch and reading the venture pitch.
Elevator Pitch Video:
Venture Pitch Report:
Business Solutions Technology Program DC final
Posted in: Venture Forum
kstackhouse 1:43 pm on November 25, 2012 Permalink | Log in to Reply
Hi Doug. I tried to watch your Venture Pitch video but the youtube video is private. You will need to adjust the privacy settings.
Ken
Doug Connery 3:32 pm on November 25, 2012 Permalink | Log in to Reply
Thanks Ken. Should be go to go now.
Doug.
avninder 3:29 pm on November 26, 2012 Permalink | Log in to Reply
I enjoyed watching your elevator pitch. If I were an executive I would support this proposal as the more an administrative assistant can do the better. It seems like this program will ensure the development of skills that are necessary to keep up with the ever changing work environment and be attractive to recruiters in the industry. Coming from a union environment though, I am curious if higher level tasks may affect the job descriptions of the employees. Thanks for sharing.
jenbarker 3:54 pm on November 26, 2012 Permalink | Log in to Reply
Hi Doug,
I found both your elevator and venture pitch caught my attention. I think you have proven a pain point and solution for the market. Overall I felt your Venture Pitch was well research and thoughtful. You passion for the venture was evident. My only suggestion might be to further detail the background of the CEO (which I assume is you) and your executive team so that we can feel confident that you have what it takes to make this program successful. Overall, excellent pitches. Thanks for sharing!
Best, Jen
joeltremblay 4:00 pm on November 26, 2012 Permalink | Log in to Reply
Hi Doug,
I enjoyed your elevator pitch as well and share the concerns of above with regards to outsourcing existing jobs by allowing the admin assistants to multitask. Good work.
Jonathan 4:47 pm on November 26, 2012 Permalink | Log in to Reply
Hey Doug —
That was an exciting pitch to watch. You have clearly highlighted an area of concern that is unique to the market (at least you convinced me of that!). This looks like a very sound proposal that you are submitting. I’d definitely be interested in the idea if I were part of the Dean Council.
Thanks for this one!
tomwhyte1 9:31 pm on November 26, 2012 Permalink | Log in to Reply
To facilitate and objectively review the venture pitch you have put forward, I will be utilizing the guidelines provided within our course, Section 2.7 – Deconstructing a Pitch.
CEO & Team:
After having watched the elevator pitch and read the venture proposal, I feel the CEO of this venture does appear credible, in that he is able to confidently discuss the issue and the approach in which they will take to solve the concern. As for the team provided to accomplish this task, I am less clear, as the proposal states the School of Business will be responsible for the development of the required elements to make this venture a success. I assume, that members of this faculty are credible, but would want to view credentials before moving forward.
Venture Concept:
Based upon the information provided, this venture does appear to be innovating while other similar institutions are cutting back, which may either mean this is a highly innovative approach, or else in the long run there are limiting factors which will reduce the effectiveness or viability of this venture, that at this time we are unaware of. Regardless, the “story” was very effective, which left me wanting to know more about the company and their approach.
Marketability:
The actual marketability of this venture was not provided, yet it was eluded to that enrollment for initial years would be lower, as requirements would be higher, but over time, more qualified graduates would emerge, leveling out this implementation dip. Regardless, not knowing this ventures true market size, potential share, and revenue makes this a risky proposition, therefore more specific research into this area is required. Secondly, from the information provided, the venture will be applying an innovative approach, if this is found successful, they will have a momentary lead on their competitors, however over the long run, these innovations will be easily duplicated, reducing their market share and revenue.
Venture Plan:
From the information provided, this venture feels that they would be operational within 2-3 years, which after that time, a full 2 year degree program (with practicum) would be made available for potential clients. As with any new program, there most likely will be tinkering after those three years to deal with unexpected issues, or advances in methodology or technology to enhance the delivery of the venture.
Overall though, this venture plane knows what success looks like, and what overall steps need to be completed. As well, before investing, specific information on the type of venture, not-for-profit, for-profit, or social enterprise would need to be provided to ensure the right type of investor is exploring this venture.
Doug Connery 10:44 pm on November 27, 2012 Permalink | Log in to Reply
Great comments and points from everyone so far, thank you. The fact that interest was generated and more information is needed indicates several Deans would be interested in moving forward with this proposal. As this would be presented live at Deans’ Council then the questions could be answered on the spot.
There is one assumption that I forgot to mention around the credibility of the CEO and the team. As this is a small to medium post-secondary institution, and everyone knows each other on a first name basis, I felt there was no need to expand on introducing myself in the video and the Dean of Business in the preamble. However point well taken as it would have been easy to quickly provide some info on the team for credibility sake.
Doug.
sophiabb 12:27 pm on November 28, 2012 Permalink | Log in to Reply
Hi Doug,
I really enjoyed your elevator pitch. You came across as passionate and credible. Your pain point is very real – I would love to have an Administrative Assistant who could “to drive the work and provide solutions to your business problems.” I agree with the other post that more information on the CEO and team would improve the credibility factor. As an investor I would want to learn more
Sophia
visramn 12:41 pm on November 28, 2012 Permalink | Log in to Reply
Excellent work. Your passion is evident and makes this a strong pitch. I was definitely drawn to this product and would be very interested as a venture. As others have highlighted, more information on the CEO would strengthen your venture.
Thank you for sharing. You did an excellent job.
Nureen
jenniferschubertubc 10:05 am on November 30, 2012 Permalink | Log in to Reply
As a former clinic business manager who was not trained in basic administrative skills but luckily got by on ingenuity, I would have loved to have attended such a program! I feel that all too often, administrative assistants are expected to have general office knowledge but are not pushed to do more. In many cases, those who work in the field may have ideas of their own to bring to the table (without training) but feel it is out of the scope of their position to present such ideas to those in higher ranking positions. Navigating those waters would be a great integral piece to your proposed program.
I like that you have taken what seems to be an ordinary position and developed it further, redefining positions and titles. I do feel that people function much better in their profession when given respect, authority and drive to do more and to BE more. I think it is definitely a worthwhile venture and as a Dean (in any one of the departments you listed above), would surely give my stamp of approval.
frank 2:44 am on December 1, 2012 Permalink | Log in to Reply
What do we have here.. a private Joker 😉
Doug, I liked how you played with this, and yet, brought it back to something you have much exposure with from an academic and professional setting.
Certainly, I think most business leaders would want to have assistants with better critical thinking and business technology skills – we don’t have to pay them more do we? No? Okay, great!
My main recommendation is that you not entirely focus this program on the established needs of big organizations and corporations. If I am right – economists are NOT usually right – then the world of the future will be more bottom up driven, with smaller units that connect together in networks that allow them to remain innovative and nimble, instead of the safety and stability centered leviathan institutions of the past.
These units will need their business solutions technologists to be exactly that; to provide real support to business and technology issues of the future, and I’m guessing here, but those challenges may not center primarily of another aging dinosaur platform, that of of Microsoft Office.
Just a thought.
Good luck with the Deans!
Pat A Son 9:29 am on December 1, 2012 Permalink | Log in to Reply
Hi Doug,
You have a great elevator pitch and I think I got spoiled to it so I had a hard time switching from it to read the venture pitch. I never would have thought of an academic program as venture and this makes your venture special for me. Ideas like this would certainly keep education up to date with the times.
Cheers
Patason
Scott 4:49 pm on December 2, 2012 Permalink | Log in to Reply
Kudos to you Doug, for taking such a creative interpretation of the assignment to best fit the challenges and opportunities present in your field of work. Though I have no background in business training or post secondary educational programming, in general the premise of your concept makes good sense to me, thanks to your clear pitch and presentation of the idea.