This presentation was delivered as part of the investor engagement workshop prior to early stage pitches delivered to investors. The approach was developed by Locus Research to help profile early stage development projects from research institutions. Aknoledgements: to Kiwinet and Bram Smith and Bill Murphy from Enterprise Angels for Organising the event.
3. Day Structure
Pitch your ideas 5 minutes each (30-40 minutes);
Define your Value Chain – Worksheet One
Be Benefit Led – Worksheet Two
Lunch
Develop your Value Proposition – Worksheet Three
Develop your Pitch – A6 Index Cards
Pecha Kutcha style pitch (45 minutes)
Closing Remarks (15 Minutes)
Review/revise/prepare (30 minutes)
4. Product Development Process
research idea prototype production to market in market
seed developed seed seedling sapling ricker mature kauri
The seed of the magestic Kauri is dispersed If the seed finds itself in dry but cool As a seedling they will develop The young sapling bristles After 50 years or more the trees will reach the The final size of a Kauri is often
after pollination by the wind travelling a conditions and isn’t deposited too oblong shaped green or reddish up a and grows a spiky forest canopy. The tree will slow it’s upward determined by it’s conditions, but can
distance of up to 1.5 km before settling deeply or eaten by insects or birdlife it borwn leaves quickly dependnig coat developing at a rate of streak and start to broaden and develop grow upwards of
ideally in the cool moist foliage under the will germinate and shed it’s coat after on how much direct sunlight they approximately 10-25cm a year. the iconic crown it is well known for. During 30-40 metres high and several metres
Manuka tree. The Kauri seeds special 35 days. Kauri seeds have bee known are exposed too. this time it will also start to shed the lower wide. Kauri can survive for thousands of
wing like form helps to carry it far from the to develop on fallen trees or even in the branches in a process called abscission years the oldest in New Zealand being
parent tree allowing it to grow gradually and litter at the base of the parent tree, a very leaving the trunk free of knots to become estimated at between
broaden over decades.(Stewart, Kauri, 2008) hardy habitat. what’s known as ‘poles’ or ‘rickers’. 1200-1500 years.
5. Awards: Clients:
Awards are not a great predictor of commercial success (particularly in design). Our clients have included the following:
But when our team and clients have worked hard on a project it is great to stop and reflect.
MDEA Awards Programmes awarded include:
The Medical Design Excellence Awards (MDEA) Encircle - Medical Devices
competition is the premier awards program for the
medical technology community, recognizing the
achievements of medical product manufacturers and
the many people behind the scenes worldwide.
Dupont Innovations Awards Programmes awarded include:
In the Australasian context these awards are the Encircle - Medical Devices
heavyweight. Held bi-annually, the appeal of the Circadian - Sleep System
DuPont awards is they recognise real research and
development at a structural level and include in depth
discussion of sustainability within the Awards.
Best Awards Programmes awarded include:
The best awards are the key Design Awards in Encircle - Medical Devices Drybase - Tiled Shower System
New Zealand. They are organised by the Designers Cortex - Exterior Cladding System Littl’ Juey - Weedcutter
Institute of New Zealand (DINZ). Locus Research Curve Surf - Surfing accessories Cayo & The Outdoor Room
Managing Director Timothy Allan helped to institute Hold - Furniture Range Forester - Chainsaw Protection Clothing
the ‘Sustainable Product Design’ Award and was the
inaugural judge in 2004.
Sustainable 60 Five categories entered to be eligible for award:
The award was created by Fairfax media and Price Strategy and Governance - Our internal ‘Evolve’ project;
Waterhouse Coopers in 2009. It provided the Workplace - Our Continuous Professional Development (CPD) programme;
perfect opportunity to recognise the wider areas of Marketplace - The innovative Transform initiatives for Textiles New Zealand;
sustainability within a business. Locus Research was Environment - Life Cycle Thinking Workshops;
the recipient of the Overall Exemplar for Small business. Community - Our contribution to forming the Sustainable Design Group of NZ.
This recognised the work we have done in a range of
business areas.
Sustainable Design & Innovation Awards Programmes awarded include:
The Sustainable Business Challenge is held each year Cortex - Exterior Cladding System
by The Sustainable Business Network. They recognise
leading businesses sustainability initiatives. Locus
Research has been involved regionally (Bay of Plenty)
as a Judge and an advocate for the awards and also
won the central and southern award in 2009 against
stiff competition and proceeded to the national finals.
ISPO Brand New Programmes awarded include:
The new entrant award which is a part of the global Curve Surf - Travel System
sporting and equipment show; ISPO This award has
feature some great New Zealand innovators such as
Blo-Kart. The innovative Curve Surf Travel system was
a finalist in 2008 and featured in their exhibition.
Focus on Health Programmes awarded include:
Focus on health was an innovation challenge that Encircle - Medical Devices
sought to assist NZ companies commercialising
healthcare products and services into the US market.
We were fortunate to be selected from over 100 entries
to be a semi-finalist and were able to take part in
pitching to top US healthcare experts and Investors.
Interior Design Awards Programmes awarded include:
The Australian Interior Design Awards is a partnership Thermowood - A Material Investigation
event of the Design Institute of Australia, DesignEX and
ARTICHOKE magazine. It the premier Design event in
Australasia that is held alternately between Melbourne
and Sydney. An important calendar event for key
furniture and household goods manufacturers.
4 For more info please visit: www.locusresearch.com For more info please visit: www.locusresearch.com 5
7. Too early?!
Difficult committing to a concentrated story
when your still in development;
It is more of a prototype, takes some iterations
to get it right;
We start at the start of a project, building a
‘project prospectus’;
Can help to guide or calibrate development.
8. Be Benefit Led
Understanding who your customers are and then translating your
product or technology features into customer benefits
9. Approached in Two Parts
Defining the Value Chain
who are your customers/users.
Translating your features into benefits
what are the benefits that your product/
technology/features can deliver.
10. Defining the Value Chain
Capturing the users, customers, stakeholders, influencers
11. Your Value Chain
We group these as:
Users ~ users of the product/service/technology
Customers ~ purchasers of the product
Stakeholders ~ a direct part of the value chain
Influencers ~ those that exert an indirect influence
12. The Product System
product life cycle interaction model
Requirements
Customer
Stakeholder
Production Distribution Retail Use Disposal
User
Technical
Benefits
13. Why is it so important?
Not just having a product/technology specified;
Or being sold;
It needs to deliver satisfied users;
Demonstrate the benefit it delivers;
Ultimately this creates a positive referral cycle
that will deliver returns over long term.
15. From features to Benefits
Starting to develop the value proposition & story that will
underpin your pitch.
16. A feature is not a benefit
The natural inclination is to describe products/
services by what they can do (features);
Example
Features: It has a Quad core 2.8 Ghz
processor /32gb RAM/9600M GT 512 MB
Benefit: just blazingly fast.
17. The Product Offer
Does not do away with a technical
specification or definition of the features;
Gets to the core of the ‘product offer’
something that investors and customers
will relate to and understand.
18. Push or Pull
Some projects are created from technology others
from market opportunity
Either way the benefits need to be clearly articulated
19. Worksheet Two – Be Benefit led
Drawing from your value chain
We have decided to flip this
Draw a group from your value chain;
Define the benefits you can offer;
List the features that deliver that benefit to the
customer
This can work both to define your key benefits and
to identify your gaps.
21. The value proposition
We need to consider:
Your Value Chain;
The benefits your delivering them;
How this can be translated into a pitch that
an investor can understand and see value in.
22. The ‘one page drop sheet’
The common format for pitching:
1-2 page drop sheet;
Format is well established
See http://www.gust.com most commonly
used.
23. The ‘one page drop sheet’
For you
Forces clarity;
Highlights gaps;
Starts to prepare for the dialogue with investors;
Thinking in their common format.
For the investor
Easy to understand and see the value.
24. The ‘one page drop sheet’
One line pitch * Customers *
Business Summary Sales marketing strategy *
Management Business model *
Customer Problem * Competitors *
Product/Services * Competitive advantage *
Target market * Financials
25. The ‘one page drop sheet’
One line pitch * Customers *
Business Summary Sales marketing strategy *
Management Business model *
Customer Problem * Competitors *
Product/Services * Competitive advantage *
Target market * Financials
26. Worksheet Three – Your Pitch
Develop your value proposition (centre)
Use the categories drawn from the drop sheet
to brainstorm your proposition and what you
want to communicate in each area;
We will then take these and put them onto
some A6 index cards to create our prototype
pitch.
27. Pecha Kucha – Index Cards
You have a fixed amount of time for each
topic;
Translate the pitch from worksheet three;
Present to the group (5 Minutes).