Today we are hard at work preparing for the 2012 Innovation Showcase on July 12th. Trying to figure out how to put together a decent exhibitor display on a shoestring budget isn’t easy!
The most difficult thing about the entire event is probably the 1 minute elevator pitch. We only get 60 seconds to pitch to a group of investors, developers, and startup VIPs. It is a real challenge to distill our message down to 60 seconds, but here is what I have so far:
“I manage an SBA microloan program, and for the last 2 years we have been requiring many of our loan applicants to produce a set of financial projections.
This spring while working on my personal taxes, I thought, why isn’t there a TurboTax for financial projections?
So my brother and I built ProjectionHub, which is a web application that helps users input sales and expense projection data, and then download a complete set of financial projections as an Excel file.
We have a working version where individual business owners can pay a 1 time fee to create and download a set of projections.
We are currently working with 5 SBA microlenders to create a custom version of the tool specifically for their organization.
This fall we plan to start selling the application directly to lenders for a monthly fee which will give their loan applicants the ability to create a set of complete and accurate financial projections that meet the lender’s standards every time.”
What do you think, is that a decent pitch? Here are some of the main points that I am trying to convey:
- My background
- How we came across this problem
- How our solution is different than competitors
- That we have a working application
- We have some “traction” with our 5 beta testing organizations
- Our goal is to develop a monthly, recurring revenue business model
We also created a “custom” version of the tool for the Innovation Showcase. You can create a set of financial projections for free with this unique link.