Preparing for pitch day

To prepare for the demo pitch, our team needs to catch up many works. If let me choose the most challenging thing for us, I would say the process of figuring out the financials for our product.

1. Estimating the money that the company is going to spend & the amount of time we can get to break even is hard since nobody can predict the future, there are so many uncertainties in it. At first, I didn’t have a clear logic in mind of how can I calculate the revenue that we are going to get based on our SOM, SAM, TAM. Since many data (e.g., Percentage of people) are estimated by us randomly, we are not able to explain why we choose that number. And this makes other people feel our calculations are unreliable. I learned that Since we don’t have enough data from acquisition to support our estimated number and future growth. To make this data more convincing, we need to find a lot of data from our competitors.

2. How to make a demo video that can be both independent on itself, and getting along with the pitch? It has been a struggle for our team this week, we don’t know how to make our demo efficiently. We watched many demo examples of other companies, and I thought a demo video for this pitch could go well if it mainly focuses on the functionality of our product, and just roughly illustrate the problem at the beginning. However, I found out that it is hard for us to show the problem with a simple sentence. Since we want to arouse the empathy of the audience, demo video will be an excellent way to take the audience outside of the room without moving and feel more immersive about our target users.

Next Step:
1. Create the flow of the demo video &shooting on site
2. Refine flow of the pitch
3. More search to make the data more persuasive
4. Spread out the words, let people try out our prototype