Daily Archives: September 29, 2015

After the elevator pitch we had in class I took some time to review my idea and get some feedback from last year students. I thought I’d share this with you since you all might have thought on this when stepping into the venture project. I pitched my idea from the four perspectives below and was given feedback accordingly:

What is the problem? I identified the problem as for me, gym services today don’t offer the flexible training form I am asking for.
Feedback: This could have been taken to a more general perspective. By combining personal experience (“I”) with the more general problem (“you”) it can capture the interest of the audience even more.

What is the idea? Flextraining as I named it is a service to offer you flexible training through an online gym membership that enables you to book passes and activities at any gym or sport club you like. Secondly, the monthly pay rates are set from the activities you actually attend, and therefore, are variable. Feedback: A more visual description of the idea can be in order to fully grasp the service in such a short time.

What makes the idea unique? I mainly devided it into 1. it is the first service to offer you activities at both sport clubs and gyms without being committed to one gym enterprise. 2. The monthly pay rate is set from the activities you actually attend instead of the a fixed pay rate like regular gyms.
Feedback: Could incorporate key words to make it more tangible.

What’s my business model? In the short time I divided it into two parts: Revenues and costs. On revenues I related it to the monthly customer payments and regarding costs I discussed the potential partnerships with gyms and sport clubs with the trade of new customers.
Feedback: Maybe push for the collaboration and potential of the market more since you just have a short time to widen the interest of potential angel investors.

Key Take-away: What the feedback gave me in general was the need of focusing on capturing the potential angel investor’s interest. From my point of view this would have meant incorporating some vital key words to build a story that both captures and tells the story of the idea. In my case this could have been “flexible”, “gym trades”, “customized offer” for mentioning just a few.

Have you got any feedback or learned anything from the elevator pitch that could be valuable when going forward with the venture project?

Hello all!

During Friday’s team exercises and discussions about how to act under various circumstances when working with a partner or in a team, the opinions somewhat differed in the class. Not much, but a little. For example there were discussions about responsibilities and ways of handling things in case of unexpected events.

What I have posted below is a short article that describes 5 necessary steps to build an effective team. These steps doesn’t necessarily answers the questions raised during Friday’s exercises but they certainly cover one of in my opinion most important aspects; clarification and realisation of what and how much that can be achieved through successful teamwork. More specifically these simple steps made me think about the importance of being of a common opinion within the team before the actual work begins.

BUT, mainly I consider these steps useful to just read through and think about when working with the venture project. Although the article is from a leader point of view, seeing these steps from a group perspective reminds me of some things that are important to effectively work in a team.

Here’s the article: http://www.inc.com/peter-economy/5-steps-to-really-effective-teams.html

//Mattias