Assignment #2

Name :
Hamza Shakeel

Roll Number :
18321519-107(section c)

Course Code :

MGT-303
Teacher:

Mam Rebaha Afzal

Department :

BSCS (5th semester)

What is a Rocket Pitch?
Rocket Pitches are 120 second, fast paced pitches that have 4 key
tenants:

1. The Problem
All great products solve problems. Your problem can be something
you’ve personally faced, something your Aunt Susan has been
complaining about, or something much, much bigger.

2. The Addressable Market

So while you are encouraged to bring us all of your problems, the best
rocket pitches aim at solving a problem that a large market can identify
with. This is a great time to mention market statistics like how many
people are affected, how much money is in the market, and where the
market is headed.

3. The Current Solutions

More often than not, someone else will also be trying to solve the
problem you are addressing. Tell us what their solution leaves out and
why that is a problem.

4. Your Solution
You’ve laid a great foundation for us, so now tell us what you’re going
to build. If you’re further along in the process, tell us how it has evolved
and what’s coming next. And though it is by no means a requirement, a
clever name never hurts.

Williamsburg Rides: An Example Rocket Pitch

This is a very simple, entry level pitch. Depending on the competition
it might pull out a victory, but it would most likely receive advice in
regard to the market size & other competition. If you’re lacking an idea,
come pitch this one—it’s a great way to test the waters and see how it
works.

1. Find a Problem
William & Mary's public transportation is not reliable & is not available
when students need it.

2. How Big is the Market?

William & Mary is made up of 8,740 students. Though a few of those
are commuters, most students live on campus. Further, transportation
has exploded in the startup world over the past 10 years. Uber and Lyft
have a combined valuation of about $135 billion.

3. The Current Solutions

W&M and the city of Williamsburg work together to provide students
with the Green Line, but a large portion of these students cannot use it.
It's unreliable, only runs every 45 minutes, and is not available for
students after 9 PM, stopping much earlier than those going out to bars
need it.

4. The Solution
Williamsburg should rid itself of the Green Line entirely. Using the
money saved, W&M and the city itself would be able to partner with
local businesses to offer highly discounted Uber & Lyft rides. Students
would be allowanced a small sum of money for the ride sharing apps
each semester, the government would receive data on which parts of
Williamsburg are most appealing to students, and everyone would get
home safely. Join me in telling Williamsburg to green light my idea and
cut the green line out entirely.
Example of an great pitch:
When you're surrounded by strangers, the simplest question can
suddenly become the most difficult to answer: "What do you do?"

In networking situations, responses can easily be too vague or too

detailed, too boastful or too passive. Whether you're at an industry
conference or a neighborhood barbeque, every business owner needs an
introduction that falls somewhere between the occupation you state on
your tax documents and the career history you describe on your resume.

Here are representatives from 11 small businesses who provided their

best elevator pitch examples for business and explained why the pitch
has proven effective in their work.

4. Merchant Machine: Payment processing comparison site;

London, England
The pitch

"Merchant Machine helps small businesses quickly and easily save

money on their credit card processing costs by comparing the leading
options in the market. It's completely free to the end user, there are no
obligations and takes just one minute to do."

Why it works
Merchant Machine founder Ian Wright used to elaborate on his
company's services and onboarding processes, only to realize he was
leaving most people confused. So he streamlined his pitch to focus only
on the main benefit–saving money–and on overcoming common
objections about cost, obligations, and time.
Since then, Wright has seen people instantly understand the value of the
company. Once, when he was chatting with someone at a bar, his new
acquaintance pulled out his phone and got a quote from Merchant Machine
for a 25% reduction in payment processing costs.