Interactive Basics, Winter 2011 – Idea Brief
1. Conceive of a product/service based on what you love or hate
Use what you wrote about as your love and/or hate as a starting point to create a product or service. This will be the foundation of your work for the next nine weeks so choose a topic that motivates you and others. Search for a basic human truth; something that resonates with others.
2. Figure out the value proposition
A value proposition is an offer that describes the quantifiable benefits that individuals or organizations making an offer promise to deliver. Further more, a good customer value proposition will provide convincing reasons why a customer should buy a product, and also differentiate your product from competitors. Understanding customer needs is important because it helps promote the product. A brand is the perception of a product or service that is designed to stay in the minds of targeted consumers. It is desirable to build a strong and positive brand association with your offering.
3. Elevator Pitch (2 minute presentation)
The name “elevator pitch” reflects the idea that it should be possible to deliver an elevator pitch in the time span of an elevator ride, or approximately thirty seconds to two minutes. An elevator pitch is often used by an entrepreneur pitching an idea to a venture capitalist or angel investor to receive funding.
Due Date
January 18th, 2011
Links
Wikipedia Elevator Pitch
http://en.wikipedia.org/wiki/Elevator_pitch
David S. Rose on pitching to VCs
http://www.ted.com/talks/david_s_rose_on_pitching_to_vcs.html
Duke University Elevator Pitch Competition
http://www.youtube.com/watch?v=HWJ01a6NE5U
MIT 100K Elevator Pitch Contest 2010 Finale
http://techtv.mit.edu/videos/9090-mit-100k-elevator-pitch-contest-2010-finale
The Elevator Pitch
http://www.youtube.com/watch?v=i6O98o2FRHw