Week 14

What did you want to do?

This past week, we were supposed to meet to practice our pitch, which we did. We also planned on getting ready for Thursday's dress rehearsal and finalizing our P&L statement.

What did you learn/complete?

We have finished our value proposition canvas, clearly defined our competition in our resegmented market and completed our financials. We put together the last pieces of information needed for our income statement and spent time practicing to get ready for the final pitch. Our sessions of practice were essential into helping us understand how we should allocate our time to be within the required time limit of the presentation. We also learned that since our patent technology is highly complex, the best way to go about pitching our idea is to be as simple as possible so that investors can quickly understand the need we are trying to address.

Issues?

We need answers to several important questions before the final presentation. In particular, we are questioning the need for an emphasis on our sales cycle during the presentation. How should we go about our customer acquisition cost in the slide deck? How should we account for churn rate in our financial analysis and revenue model? We also need to make sure our go to market strategy is plain. Finally, we are wondering on how to set our time boundaries to raise series A  and series B funding in our company timeline. For our revenue model, we benchmarked our values based on the revenue growth rate of similar solar companies like Solar City, using their disclosed financial information filed with the SEC. We applied the same strategy for our costs and want to make sure that is valid.

What are you going to do?

We are having a skype meeting with Rick to perfect our presentation and go over some last important details,  particularly in regard to our go to market strategy and business model. We are also planning on meeting today to post our final practice pitch and rehearse one more time for the final presentation.