Reflection : Proto-pitches and general progress

This week, team VR3 (Vicky Yang, Rita Lei, Richard Cho and Rachel Poonsiriwong) updated our market sizing materials and conducted diary studies with two student athletes. Additionally, we took our first stab at forming a coherent narrative around our product development and team identity!

Putting everything together

It was surprisingly challenging to arrange, filter and cut materials to fit our product development narrative into a 7 minute presentation (especially when we had to present results from our diary study!)

What went well

• Vicky was really helpful in finding similar copy from mental wellness brands for us to emulate, which translated into a powerful mission statement
• Our team had a diverse set of skills which we had utilized, but it was the first time we looked at them as a whole

What could have been better

• However, I felt that our story was much more nuanced and could have been workshopped a little bit more. For instance, I’d be curious to see whether we can mention our prior iterations before jumping into our final product molecule.
• Additionally, I think we can find interesting ways to introduce ourselves as our team.

Our business

When updating the TAM SAM SOM diagrams, we decided on a Freemium model. With the iteration of our product concept from a smart water bottle to a smart watch strap, we anticipate that the numbers might change!

What went well

• On Thursday, we had a 1-hour session where we discussed existing doubts about our product (an IoT water bottle that would be able to sense the user’s mental stress and help them communicate this to their peers).

What could have been better

• However, we felt like we needed more time and thinking to gain clarity over the TAM SAM SOM numbers, and understand more about related costs before we dive deep into selecting our IoT product as our final iteration.

Selecting roles

While I was hesitant about assuming the CEO role just because I had been primarily in charge of project management, I was joyful to have been elected for it by my teammates. With the support of my teammates, I’ll be leading our team and keeping us on track with our various cycles!

Our Funnel

Still a work in progress — check back soon for updates!

Planning for our acquisition experiment

With an update in our product (from a smart water bottle to a smart watch strap), we are thinking of the following action items for this week’s cycle :

• Getting a clear sense of our metrics (aka what our acquisition experiment can teach us about our product)
• Landing page experiment
• Creating a new MVP to test with more male student athletes
• Updating our TAM SAM SOM diagram and market sizing materials
• Last but not least, settling into our new roles and feeling comfortable in them :-)

As always, I’m looking forward to the exciting things we’ll be working on this week!