Week 2 & 3 - Bridge2
Summary, Takeaways, and Wins
So, what are we trying to accomplish in weeks two and three? Are we trying to hit home runs or progress along the diamond, one base at a time?
Sometimes, it feels like a bit of both.
“A little bingo, bango now!”
- baseball chatter from my playing days.
Week 2
Week two brought a presentation on the 5-minute and 15-minute pitch. I’ve got loads of notes, and it still feels like an unsolvable problem. In five minutes, you’re just trying to get a handful of chances at a more focused 15-minute presentation/meeting. Five minutes for a 15-minute meeting.
Everyone has a different style and strategy for these 5-minute pitches; even the advisors disagree on the format, sequence, and which section is most important. The result is a realization that there is a formula, but it has dependencies.
Who is doing the pitch? Charisma and Expertise can go a long way.
Who is in the room? Knowing the audience can help you craft a tailored presentation.
What is the environment? Be ready for technology failures and non-traditional pitches.
You’ll have multiple slide decks that likely won’t ever be finished. Your assignment today is to build the deck to fit today’s audience and environment.
I’ve not yet settled on a sequence, but I’m getting closer.
Week 3
Week three had two different presenters, each focusing on a piece of the puzzle related to the Data Room deliverables and the pitch. We first worked through a section about Revenue Models1, and how we might distinguish ourselves early in the presentation to align the audience to the context of the model. HOW ARE YOU INNOVATING?!?
This would be mainly for the 15-minute presentation — they took the meeting because of who you are, so it becomes less about you and more about how you will take your invention and commercialize it. The 15-minute pitch is about “framing your business as a job to be done.” You have to show how you will create and capture value. You create value in your product market fit and capture value in your revenue model fit.
Innovation = Invention * Commercialization
I enjoyed both sections on Revenue and Product Models and had a page of notes on how I might tweak my presentation to get the most out of these sections (even having a one-slide-per-section offering and a 3-4 slide per section offering). Being flexible in your presentation depth is an important takeaway.
Key Takeaways
Find your fit!
KPIs are your friend
Acquisition Cost
Monthly Active Users
Revenue per User
Cost per user
If you have customer data, show the customer data!
Wins
Website: Personas
Trademark Application
Mark
Trade Name: Barista Bot
Financials: Quickbooks, Balance Sheet, and Profit & Loss
Project Brief & Customer Flow - Pilot
Project Brief & Wireframes in Figma - Landing Page & Customer Admin
Golden Thread Deliverable - I can’t wait to share this one; once we have our golden thread from set-up to payment, we’ll open up a way to test out Barista Bot with a one-item, multiple-variable order.
Revenue model examples:
Subscription Model
Sell one thing that renews
Advertising Model
Sell ads and present them to users
E-Commerce Model
Sell direct to customers
Marketplace Model
Match customer to seller
Freemium Model
Convert users to paid users
Hybrid Model
Uber, both marketplace and e-commerce