The Elevator Pitch
An elevator pitch is a very short summary of your product plan. You will film your own elevator pitch based on the product your team has done their plan on for the term. Each person will make their own pitch video but you will be working from the materials you have produced jointly with your group for the term project. Your elevator pitch will be posted our blackboard page and will be evaluated by three other students from the class.
For this elevator pitch, your goals is to get your listener to want to invest their "Garbarino Gelt" (see peer review mark for elevator pitch for more details) in your product. The pitch should cover the following aspects:
1) What problem does your product solve?
a. Describe what your product will do in one or two sentences. Not just what it is (e.g., "this machine scans your pheromones and those of all the people within ten feet of you) but what it does (e.g. "a device that helps you scientifically find your perfect match")
2) What is your solution to that problem?
a. What is your product
3) Who is your target market?
a. Who will you be selling this to (hint: the answer is not "everyone')
b. How big is your market
4) What is your revenue model?
a. How will you make money from this idea
5) Who are your main competition?
a. The answer is not ‘we don't have any'; who serves the same need now?
6) What is your competitive advantage?
a. What makes your way of serving the need superior and how will you hang on to this advantage.
The pitch should excite and inform the listener, make them want to invest in your idea. The effectiveness at doing this will be a function of both your content and your delivery. There is lots of examples online (just search you tube) so you get a get a better sense of what they look like.
The pitch should be no more than 2-3 minutes long. If it is over 3 minutes long you will be marked down. You will need to practice it a number of times before it is smooth and clear and tight enough to get all the key points across. It will likely take you a few hours to decide what to say (based on your term project) and at least ten run-throughs before you are ready to say it on camera.
Once you have it on video, you will post it on the class Blackboard to be peer evaluated by three of your classmates. Their evaluation, in consultation with class instructor, will determine your mark for this assessment. They will also decide if they want to invest their Garbarino Gelt in your project. Those who receive the most investment gelt will get their name (and their project's name) on Wall of Fame on Blackboard.
Your video pitch should be posted in the ‘assessment' tab on Blackboard under the ‘Elevator Pitch Video' item with under your name and your product's name (under ‘submission title').