This is a team, multi-part deliverable. You should start looking at this at the start of the Term Project part of the course so you know what you are working towards. Don’t be scared by all the words below, I am just trying to be clear and detailed. Questions are welcome!
Remember, 9 out of 10 startups fail. It is not expected that each project yields something that merits investment. The important things are the journey, the process, and what you learned that will help you be a better entrepreneur.
Final Presentation Day
On Friday December 11, from 10:00am to 12:00pm we will have final presentations. Several Product Reviewers (tm) will be invited to listen to each team do their presentations, ask questions, and have one on one conversations while we munch on snacks and drink delicious beverages.
The PRs will ask to review the projects as if they were looking for angel funding. Their review will be based on the formal presentation. But your grade will be based on that plus the the additional deliverables described below.
What PRs will be looking for
- A strong problem statement. What can be improved in the way things work today?
- A clear explanation of what the product or business idea is
- An explanation of how this product or business fixes the stated problem and “why now?”
- Empirical information (“getting out of the building”) supporting the project – talking to people, surveys, looking at other products or web sites, data from studies that might be relevant
- A discussion of the business and growth model, e.g. How do you plan to make money, how you will drive growth, how much funding you think you will need, etc.
Not an outline! Note that the above is not an outline. You can structure your presentation along the lines that Bill Wittenberg suggested, or you could structure it along the lines of the Business Model Canvas, or you can do something different.”) %>
An 8 minute presentation. Will be delivered by all the students on a team. The presentation needs to be rehearsed and fit to the time constraint. Questions will be held to the end, and will go for up to 8 minutes. You can think of the audience as angel investors.
Slides for the presentation. These should be submitted for grading as a pdf.
Paper (Report) Of your project, with additional information (5-10 pages.) You can assume that whoever reads it also has the presentation slides. You can think of the audience for this piece to also be angel investors. You should submit it for grading as a pdf. See Term Project Final Report
A Project Report static web site, consisely reporting on the project, the process and the results. Here are some suggestions for the Project Web Site. This is part of your portfolio which we will add to a Cosi Projects web site and you can use for letting other people learn about your project.
Showcase Day Presentations
- The showcase will be held in a slightly larger classroom (not yet assigned)
- It will be on December 14, from 6:00 to 8:00pm
- The audience will be your classmates and anyone else you want to invite
- You should wear “business casual”, no ties or dresses required.
- Whatever you feel comfortable with.
- There will be a panel of “Product Reviewers” to listen and comment on the presentations
- I will determine the order at the last minute
- The PRs will give their feedback and rank the products
- But, your grade will be based on much more than that.
What PRs will be looking for
My instructions to them will be something like this:
- Students have been studying Lean Startup for 3 months
- They have worked in teams of about 4 on a product of their own devising
- They are given 8 minutes to present pitch their business
- It is likely that they have pivoted at least once during the semester
- They have written a far more detailed report (but that you won’t be looking at)
- Please look for the following:
- Can you really understand what they are proposing?
- Have they done a credible job backing up their story with ‘outside’ data?
- Are they persuasive in their presentation?
- Consider the proposed pricing, growth assumptions, and market segments
- Would you give this team seed money to develop the ideas further?
Slides and/or demo
- Given the time you should probably not have more than 10 slides
- Think of the slides as a story. Make sure there’s a logical flow to them.
- Make sure there’s a clear beginning slide and a clear final slide.
- As each product is quite different, there’s no single recommended outline
- Don’t have too many words on the slides. Don’t read the slides.
- Visual images - diagrams, screenshots etc. are great
- Weave in your empirical (out of the building) quant or qual info whereever possible
- Below are a set of possible topics to give you inspiration. Pick and chose.
Topic Ideas for Presentation Slides and Final Report
- Problem, or Opportunity, or How the world today sucks. A strong problem statement. What can be improved? What is 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.
- 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?
- Product, Service or other description. Very important that the listener understand what you are proposing. Many teams miss this. If the listener is vague or confused about what it is, they will be distracted for the rest of the presentation.
- How does it work, what is the underlying magic, are there 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.
- 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?
- What is the business model, 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?
- 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?
- How confident are you in this product, 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?