“How will you make money?” is a deceptively simple question. Your business model ties together key concepts from your answers to every preceding Question. Don’t miss this opportunity to identify inconsistencies in your assumptions and beliefs throughout your value proposition… especially because you will be quantifying them in the next course!
This Question is your opportunity to increase your credibility dramatically, so much so that – if you are already earning significant revenue (especially from significant customers) – I would encourage you to answer it earlier in your pitch.
Q06 Consistency ⇒ Credibility
- Question 01: Consistency between bottom-up and top-down market analyses for a significant market pain
- Question 02: Consistency between the problem (Q01) and your innovative solution (Q02)
- Question 03: Consistency between the specific problem (Q01) and your competitive advantage in terms of customer benefits (Q03)
- Question 04: Consistency between the customers’ business model (Q01) and your barriers to entry against competition (Q04)
- Question 05: Consistency between the promise of your innovation (Q01, Q02, Q03) and your demonstration of meeting the customers’ needs & wants (Q05)
- Question 06: Consistency between the customers’ needs & wants (Q01) and your ability to deliver your solution efficiently (Q06)
Slide suggestions
- Dedicated slide: Show data.
- Best: Revenue from established customers
- Good: Revenue
- Pretty good: Show regulatory approval (if your industry requires it)
- OK: Show relevant data from your prototype, preferably from a third party.
- Acceptable: Show relevant data from your proof of concept
- Add to other slides: Include technical, product, and regulatory progress in your development plan (Question 09).
Responses