Wednesday, February 17, 2016

Elevator Pitch No. 2



From my feedback, I concluded that people were a little confused with my pitch.  I think on my first pitch, I focused too much on the fact that the tracker was identical to a credit card.  Some people I interviewed about the product thought the tracker was only a replica for a credit card so a thief would try using that card instead of a real card.  I got the response, "Well, what if the thief tries all the cards?"  Now I tried to make my Elevator Pitch clear that the tracker is only for tracking purposes, not to stop the thief from spending any of the money in your wallet.  I also included the fact that a lot of people are now making purchases on their cell phones, so less people are carrying wallets.  Because of this, if you are carrying a wallet, it is more likely to be stolen, because the decrease in the amount of wallets for thieves to steal.  My third change to my product and pitch was the addition of an app or website, where people can access information about the whereabouts of their wallets.  Some of the people I interviewed seemed confused as to where they could track it from.  Overall, the two comments I received on my first elevator pitch were very positive, and people seemed excited about the idea.

4 comments:

  1. Cassie, I think your tracking concept is something that more and more people are buying into because of theft and losing credit cards is so common. If you could create a proprietary product that acts as a tracker I believe your business idea will go far. Keep up the hard work and if you want to check out my blog you can find it below:

    http://maxwilk.blogspot.com/2016/02/elevator-pitch-no-2.html

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  2. Cassie,
    I think you have a great idea. I'm glad to see you tightened your elevator pitch to relieve some confusion, that was a good move and definitely needed. I also liked the other changes you made, these would've been recommendations I would have made as well if I reviewed your first elevator pitch. Other than that, I don't see anything else that needed to be fixed. I think you have a great idea, and we definitely need something like that. Good job on your post. Check out mine when you have a chance:
    https://principlesofentrepreneurship.wordpress.com/2016/02/17/elevator-pitch-no-2/

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  3. Cassie,
    Right off the bat great pitch! You definitely took the feedback from others and delivered an excellent pitch. I could use this product everyday, not only in my wallet yet in my school bag and my luggage when I travel. One thing that did stand out was how soft the audio was on your video yet that is a minor technical issue.

    Overall keep up the great work!
    Feel free to leave some feedback on my pitch
    http://qdesousaent3003.blogspot.com/2016/02/ent-3003-elevator-pitch-no-2.html

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  4. I'm really glad you used your criticisms to help improve your second elevator pitch. You definitely don't want to confuse the listener. An elevator pitch should hit all the main point of your product while engaging your consumers, which you did! I think adding the app to your idea is also really great. I'm guessing it'll be kind of like Find my iPhone, but for your wallet. Keep up the good work! Check out my pitch here: http://npc95.blogspot.com/2016/02/elevator-pitch-no-2.html

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