Description

In the 10th week class, we had an in-depth discussion on “Business Proposal Integration” and “Pitch Presentation Preparation”. Jungho emphasised that Pitch should focus on “not advertising but storytelling”. He also recommended a 10–12-page Pitch Deck structure. We also conducted progress checks and analysed the weaknesses of each group in business model validation, growth plan, and prototype testing.

Feelings

At first, I was nervous about the task of pitch presentation, especially when I heard the requirement that “every member must speak”. I realised that I had difficulty in conveying the core value proposition concisely. The teacher’s requirement of “explaining the product, users, pain points, and USP in one sentence” made me realise that our preparation was not solid enough.

Evaluation

The most valuable part of this week was the emphasis on “financial forecasting is not actuarial, but logical deduction.” This means that when entrepreneurs present financial forecasts, the key is not “perfect numbers” but whether they can show the logic behind their assumptions and the reasonable linkage with the business model and expansion path (Barringer and Ireland, 2018). Furthermore, the suggestion to contact 10 target customers for prototype testing is also very practical. This helps us strengthen the verification of VP. However, I also feel the challenge brought by the large amount of information. For me, who does not have a business background, this requires a lot of after-class reading and digestion. Through this study of financial logic and customer validation mechanisms, I realised that these skills not only serve the classroom pitch presentation but will also play a practical role in my future business plan or growth strategy design.

Analysis

The core of the business plan is the business logic that is creative and supported by evidence (Barringer and Ireland, 2018). The Pitch presentation is a test of whether we can condense these logics into an attractive narrative. An excellent Pitch Deck needs to convey the entrepreneurial logic to investors clearly and attractively. This emphasises the role of “storytelling” in Pitch (Vijga, 2024).

Conclusion

I realised that an attractive business idea will not attract the attention of investors or judges if it cannot be expressed in concise and persuasive language. In the team pitch, each member must understand the core logic to deal with on-the-spot questions and answers. Our team needs to further improve the persuasiveness of the MVP presentation. This can further enhance the reality and rationality of the financial forecast part.

Action Plan

I plan to refer to the cost ratio template provided in the courseware for the financial part before the next drill and adjust it in combination with our actual BM. Moreover, our team will organise an internal Q&A drill. We will ask each other questions to simulate the challenging questions that the judges may ask.