Estimated Reading Time – 5 mins
On the 8th of December, we had our first mock dragon’s den pitch. The team was all prepared for it, we had a good number of practice pitching sessions done before the final day. As expected and as asked, we were first on the list to take on the stage. We delivered an exceptional pitch, and the class was quite impressed with our presentation. However, there were some significant concerns in all of the 5 judges’ minds.
First of all, our idea the MY PA app didn’t seem practical to them, they had concerns and questions for us regarding the legal issues that we could have faced in case something was to go wrong. The idea that we had in mind was too general and open that made the operation really difficult, they suggested that we keep a specific number of tasks that could be requested. The other major issues we were facing were the development costs, it was nowhere near what we calculated. To be really honest, it was over 10 times of our initial investment. Well we got roasted for 20 mins, and I guess we were the only team that occupied the platform for that long, we pitched for 5 mins, but we were questioned and were answering for another 20 mins. All of this contributed to a mental dilemma in my mind.
Once we were done, I immediately stepped out of the class to take a breath and have a minute on my own. I was too confused and too broken because I could feel and I had already realised that the idea that we worked on for so long, the idea on which we put our energies and efforts on is not gonna work. After every team was done, it was time for us to decide as a team on the path that we wanted to go towards. I made it very clear to my team that I believed that MY PA is not gonna work and all of them agreed. We immediately took steps and informed our lecturers so that they could help us with bright ideas deadline extension, so we get time to submit a new idea, it was Friday, and we only asked until monday.
Next Monday, the team had its new idea, a much more practical and a much more useful idea that is actually sellable. In my next blog, I am going to write about the new idea and the progress on it so far.