My Enterprise pitch was on Monday afternoon, and I am going to talk about my experiences of the whole process here.
On beginning the Enterprise unit, I felt a little confused about what I would have to do, but this was soon clarified. I began to use Twitter for market research into my idea and to gain interest. I was indecisive about which idea I wanted to use, but I understood that no matter what buisiness plan I was to put together, it would still apply in some way to my buisiness model. The first media idea I had was to have an independent production company which specialised in Media Production in the local area, and the second was a local media production company which was a non profit organisation helping to bring media production the local area. I settled on my first idea, as it could give me more mileage, and was easier to put into a three minute pitch. The reasons for this are: The weaknesses was really only one or two points, funding and opportunities, whereas the non profit organisation had a lot more weaknesses, namely in the funding area, as well as running costs, how I can run it after the initial set up, how to keep it fresh and who my client base would be. The process of doing a pitch really began when I had eliminated any doubts from my mind as to the best strategy, so I could really focus on an end product, as I had no clarity, up to week 5. I don't feel that I would have been able to perform well in the pitch, had I still had mixed feelings about an idea. Now, my company even had a name, which it had never had prior to pitch day. The only problems I was having now, was putting it down in such a way, that I could pitch without the use of Power Point, which would usually help me to speak for longer periods, but as this pitch was only three minutes, I was confident that I would be ok.
The Pitch.
While I felt supremely confident heading into the pitch, I knew that with a little tweak here and there from how I had performed in my Action Learning set, then I could get up to the 2 minute thirty mark, possibly 3 minutes. It has always been important to identify the weaknesses and threats, so that when pitching, you can be more confident of an idea with fewer weaknesses. On the subject of weaknesses, it is important to me, that if there are weaknesses, you know what they are, and state how you are going to eliminate them over a period of time, whether it be 3 months, or a year. This is something in which I briefly mentioned during my pitch, but as I was concious of time, I wanted to make sure I got everything in, and as a negative, I missed out my Market Research, and I should have given more detail to my current weaknesses, some of which were discovered through market research. The strengths of my idea were that I had a clear idea where I wanted my Enterprise buisiness to go, and When I wanted to get there by. I also spoke about the future goals in the short term, medium term and long term. I feel that I was clear and concise in getting my information across and did well selling myself as a current student with new ideas and that I was in the process of gaining a degree. The feedback I got was generally positive, although there were things I could improve on, such as "more detail in the Market Research and when saying I was getting a degree, why didn't I sell it, that I'd be awesome, I'm getting a first". Other than that it was a pretty good performance. I mentioned a competitor to me in the pitch, Hello Hello Pictures. They produce a wide array of media ranging from short films and music videos to image design and audio work. These are based in the West Midlands also and are my biggest rival to date, given they only formed in latter 2011. The reason they are my rivals, is because my content would be short films, music videos, and as I have a current involvement with radio, I could do Radio work and promotion too. My next steps on my journey, are to form an even clearer vision, plan out a business plan in which my weaknesses mentioned above are addressed, and to begin gaining content for my portfolio. I would hope to accomplish this by the end of December 2012.
On beginning the Enterprise unit, I felt a little confused about what I would have to do, but this was soon clarified. I began to use Twitter for market research into my idea and to gain interest. I was indecisive about which idea I wanted to use, but I understood that no matter what buisiness plan I was to put together, it would still apply in some way to my buisiness model. The first media idea I had was to have an independent production company which specialised in Media Production in the local area, and the second was a local media production company which was a non profit organisation helping to bring media production the local area. I settled on my first idea, as it could give me more mileage, and was easier to put into a three minute pitch. The reasons for this are: The weaknesses was really only one or two points, funding and opportunities, whereas the non profit organisation had a lot more weaknesses, namely in the funding area, as well as running costs, how I can run it after the initial set up, how to keep it fresh and who my client base would be. The process of doing a pitch really began when I had eliminated any doubts from my mind as to the best strategy, so I could really focus on an end product, as I had no clarity, up to week 5. I don't feel that I would have been able to perform well in the pitch, had I still had mixed feelings about an idea. Now, my company even had a name, which it had never had prior to pitch day. The only problems I was having now, was putting it down in such a way, that I could pitch without the use of Power Point, which would usually help me to speak for longer periods, but as this pitch was only three minutes, I was confident that I would be ok.
The Pitch.
While I felt supremely confident heading into the pitch, I knew that with a little tweak here and there from how I had performed in my Action Learning set, then I could get up to the 2 minute thirty mark, possibly 3 minutes. It has always been important to identify the weaknesses and threats, so that when pitching, you can be more confident of an idea with fewer weaknesses. On the subject of weaknesses, it is important to me, that if there are weaknesses, you know what they are, and state how you are going to eliminate them over a period of time, whether it be 3 months, or a year. This is something in which I briefly mentioned during my pitch, but as I was concious of time, I wanted to make sure I got everything in, and as a negative, I missed out my Market Research, and I should have given more detail to my current weaknesses, some of which were discovered through market research. The strengths of my idea were that I had a clear idea where I wanted my Enterprise buisiness to go, and When I wanted to get there by. I also spoke about the future goals in the short term, medium term and long term. I feel that I was clear and concise in getting my information across and did well selling myself as a current student with new ideas and that I was in the process of gaining a degree. The feedback I got was generally positive, although there were things I could improve on, such as "more detail in the Market Research and when saying I was getting a degree, why didn't I sell it, that I'd be awesome, I'm getting a first". Other than that it was a pretty good performance. I mentioned a competitor to me in the pitch, Hello Hello Pictures. They produce a wide array of media ranging from short films and music videos to image design and audio work. These are based in the West Midlands also and are my biggest rival to date, given they only formed in latter 2011. The reason they are my rivals, is because my content would be short films, music videos, and as I have a current involvement with radio, I could do Radio work and promotion too. My next steps on my journey, are to form an even clearer vision, plan out a business plan in which my weaknesses mentioned above are addressed, and to begin gaining content for my portfolio. I would hope to accomplish this by the end of December 2012.
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