Each final report is different because each product is different. In some cases the vision is very simple to explain, but the business model is complicated and takes several paragraphs. In other situations, the only way to explain things is with a diagram or with reference to outside research. Sometimes a working prototype is the most compelling.
Below is general guide to the kinds of information that might appear in your report. It is deliberate that there is not a specific required outline. We want you to discuss and debate with your team what makes the most sense for your project and then divide up the work among your team members
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Includes basic information like the product name, team members and their emails, is clear and specific and allows the reader to distinguish your product from all the other ones. It makes a great overall impression: well organized, well written (good English), pleasant to read? It has a logical structure and includes an introduction and a conclusion. Diagrams, images and charts are useful ways to break of the text and make the report easier to digest.
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Explains the problem, or opportunity in a convincing way. Contains a strong problem statement and explores how the world would be better with this product or service. Describes what can be improved, what the pain you are alleviating or pleasure you can deliver? Make sure it’s credible and serious enough that someone would actually pay for it.
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Describes the product clearly, with a clear and crisp one line description, elevator pitch or similar succinct definition. Very important that the reader understand what you are proposing. Many teams miss this. If the reader is vague or confused about what it is, they will not appreciate the rest of the report. Also describes how the business and/or product works, what the underlying magic is and any interesting technology elements, what is non-obvious? The less text and the more diagrams, schematics or flowcharts, the better. If you have a prototype or demo to show that would be excellent as well.
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Includes key hypotheses, organized by what types they are and whether they were proven or not. Beyond listing the hypotheses the report, it explains Which ones did you validate and which ones failed? By what evidence? Key experiments. Design and results of “out of the building ‘experiments”” to test hypotheses with multiple proven or disproven. It might be useful to list the key MVPs used. What tools and techniques did you use, what were the results? Which ones would you still like to validate? What dead ends did you pursue?
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Includes an exploration of the closest competitors. Why are you worried or not worried about them? What similar products exist that would be competitors to your product? Can you analyze competitors using a feature grid? Does their existance support or refute your product ideas, how are you different or differentiated from them?
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Explains the business model, including the value Proposition in more detail. For specific segments what are the pain points? What is the value to the customer of alleviating that pain or providing that pleasure? What kind of pricing have you tested, are there any analogies with existing products or services you can use to justify, have you created a simple financial model to forecast growth. Who are your target customers or users and how might you reach them? Where do they congregate? What evidence do you have that they want and will use and will have benefit from what you are proposing?
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Will include lots of visuals. A mockup or good paper prototype to use in further experiments and as input to the design. Not all screens need to be included, but the key ones to persuade that the design has been thought through. Any web site, diagram, sketch, photograph, diagram or flow chart that would illustrate the product and the research. A diagram showing the flow of screen to screen in the user interface and explanation thereof.
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A conclusion articulating your teams confidence in this idea, how excited are you, what is needed next, what is the team’s recommendation, is there a pivot that you know you need, are you ready for seed funding, are you planning to apply for Spark? The strategy going forward. Tactically, what are the immediately required next steps; what are known identified risks and ways of addressing them; reasons to believe this will be a fundable product going although further pivots will be needed
Based on my experience in previous years, here are some general tips that will allow your report to stand out.