Seminar Five Governing The Freedom Economy

As usual, the first half seminar was for the assignment presentation. We showed our own elevator pitches and most of them were quite interesting. Some useful points that Prof Gilbert elaborated along our presentation:

1. Revenue model should be included and can be simple.
2. Words appearing on the screen should be brief and short.
3. Animation could be added to show business idea better.

4. As an elevator pitch, we could think about an impressive end and reinforce that your good idea can work excellently(the last group, a "movie"- like end).

These points made me think and they were really useful. Combined with the sample elevator pitches we watched that day, I derived the following elements in addition to contribute to the successful pitch making:

5. Attractive and differentiable background music. For music, I think it is better to choose the right one for targeted audience. If we want to sell idea to young people, rap and pop music may work well. But what if the target buyers are senior people? The most suitable music will certainly change.

6. Good and original idea. It is the soul of whole elevator pitch. Without a good idea, there is no selling point for the elevator pitch.

7. Clear logic flow and easy to understand. This make audience feel comfortable to follow up our idea and less easier to get bored.

After a better understanding of the elevator pitch, we were required to improve our pitch and post them on YouTube. For our group(A+ Group), we would cut some details in order to not be wordy. We would also include the revenue model part and our competitive advantages for completeness.

In the other half seminar, we learnt about the governing the freedom economy.

This is quite useful for our final business plan. We need to consider the norms, rules, laws. And for new product, we'd better to follow the social norms, because it is easier to extend norm than to create a new norm.