January 2020 Timeline: Finishing to Perfection

Written by Joy Xu

It’s the home stretch, entrepreneurs!

The perfected video pitch for your dream business concept is due on February 7, 2020. We have guided you along the creation process, from finding a blue ocean of opportunity to developing your business ideas into a concrete product. Now, it is time to finalize and film your BEST video pitch.

Before you start thinking about the video pitch, make sure that all aspects of your potential business are drafted out. Draft out the business model canvas, create a financial plan, conduct the four types of market research, and develop price points and bundles for your target audience. All of these concepts will help in segmenting your market and ensuring that your business is durable and long-lasting.

Now, it is time to organize and present your drafts and ideas into a coherent video pitch. There are three main ways to go about a video pitch: animation, real people with photo overlay, or a mixture of both. Depending on your background, the animation route may take longer, but it is a good option for teams with busy schedules or students with a creative knack. Animation is also a good medium for creative a unique pitch that stands out. Most of the video pitches are of real people talking to a camera. An animation can show judges that you put effort and hard work into your video pitch. Here is an example of an animation video pitch that won 2nd place last year: Sidney Hough, Dumplings. We also covered her story, which you can read here.

You may also choose to go the in-person video route. As the judges will be able to see your appearance, the way you act in the video is of utmost importance. A full on suit and tie is not necessary, but the dress should be business-casual. Your mannerisms should also be appropriate, like a businessman, well, pitching a product.

This kind of business pitch can be filmed on an iPhone or a professional camera, if you have one. As long as the resolution is high enough and the video quality does not distract from your video pitch, there is no need to find the fanciest camera for the video. Remember, it’s the development of your idea that shines through!

After you choose the format of your video, it is time to script your video! Take all of your models, notes, and professional and personal opinions and script your video pitch. It should include a description of the problem, why the problem has not yet been solved, why the problem is prevalent, how your idea solves the problem in a unique way, and an explanation of your app/product design. Be sure to include how your solution product includes all the Blue Ocean topics!

Create a document for what is going to appear on the screen at each second. Correlate which images and demos will appear at which times of the video. If you are working with more than one person, make sure to block out the passages that each person says.

When recording the video, make sure that the presenters either have attached mics or that you are in an environment that is not noisy. The script should be presented from memory, so always have a couple of takes to choose from! If a voiceover is needed, make sure to do it in a room without background noise.

Although you do not need to actually create the product or app, it is very crucial that you add in a few computerized sketches into your video. This way, the judges will be able to visualize what you are pitching. This can be in the form of creating a sample website for your product (WIX, SquareSpace, etc) and screen recording a few pages off your website to insert in the video. Or, you can use an app development app to show how your proposed app may look like if realized.

After adding in all of these demos and graphics, edit your video for sound quality and clarity, and show your community! Ask your parents, teachers, or business leaders for input on your video pitch. Outsiders can give you a big picture perspective on your video pitch and lots of priceless advice.

After that, submit your pitch here by Feburary 7, 2020. Good luck everyone and have fun! You’re almost there!

If you have any questions at all, don’t hesitate to reach out to us through our email and/or social media! Our instagram is @blueoceancompetition and our email is blueoceancompetition@gmail.com.

See you on the other side,

Blue Ocean Executive Committee