Week 4: Presentation Prep

• Validation is everything. Everything should be validated.

Your job is to prove that there is a problem/opportunity, show how big that opportunity is, identify and engage with the people who want/need/demand something that addresses the problem/opportunity. Wherever possible we want you to show how you have tested and proven your strategies and are therefore 100% confident that you are correct. 

• There is no End. 

You cannot "complete" this assignment. You can only ever get as far as possible. So don't be concerned with trying to get everything done. We would rather you thoroughly validated a problem and pivoted until you had a clear opportunity, than blitz through and design something that no one wants.

• Always be pitching.

Never miss an opportunity to test your ideas on people. If you drop your elevator pitch on everyone you talk to, you're validating it by inviting their reaction. If they all go "Wow, that sounds awesome" you know you're getting somewhere. If they all go "WTF?" you know you have some work to do. 

• You need to be the expert.

The more information you have to support your business idea the better. Research precedents, find studies that support your idea, identify and analyse emerging trends. Back up everything you say with some form of proof because you are attempting to convince someone important to get involved. 

• Investment takes many forms.

In the early stages of a business the most important form of investment is time. You are investing yours, and you are asking the Dragons to invest theirs. Their time is very valuable because they bring years of experience and can help your business succeed. Even if your business will need financial investment at some stage, I guarantee that prior to that you need some expert advice, so don't be hesitant to ask for it. 

• Some ideas just don't work out.

A lot of early stage business ideas never go anywhere and there are thousands of reasons why. Sometimes there is a problem but no viable solution. Sometimes a problem and a solution but no customer who wants to pay for it. Often the problem just isn't as big as you thought it was.

We want you to be super objective and critical of your own process. You might come to the conclusion that despite everything you've tried, all the pivots, all the different strategies, all the changes of demographic and technology and market, you simply cannot find a business model that works and therefore this is not a business worth putting your [heart and soul, life savings, time and energy, first born child etc] into.

That is not an excuse to stop, we want you to keep trying right up to the day before the final pitch, but if you show us how much you've learnt by attempting and failing, we respect that and you will be rewarded for your efforts.

• Basic stuff: 

No spelling mistakes please. 

Make sure your slides work. 

Dress for the occasion. Seriously, you are trying to make a good impression. 

Learn your material and only use notes as prompts. Don't just read a script. 

Practice. Practice more. 

Things to cover with the presentation:

• The problem
• The opportunity
• The extent of the opportunity
• Audience
• Ideas that have been tested
• Information
• Studies
• Trends
• Precedents

Everything needs to be backed up with evidence

Presentation:

Where to from Here?

• Consumer survey and collecting results  
• Creating brand — developing logos - have options for next week 
• Drafting website and app 
• Refining content for website 
• Funding pitch

Content done as a team

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