< PreviousPITCHING CANVAS PITCH STAGE The Pitching Canvas helps you get your concept across to your audience in a concrete and logical manner. Use this tool to build and test your storyline before you start using your pitch deck. PROBLEM What problem are you trying to solve? How does it impact the problem owner? TEAM NAME AND NOTES: SOLUTION How do you propose to solve the problem? How feasible is the solution that you have in mind? BUSINESS MODEL How will you capture value? How much value will this solution bring to your company? CREDIBILITY What are the assumptions you validated? Why will it work? Why should they believe you? CALL TO ACTION What do you need to make your solution a reality? What are the next steps? Q&A What work did you do that you would like to showcase? What kind of critical questions can you expect from the audience? Click or scan to download this resource and other innovation resources. 123 456TEAR DOWNB Y THEIR very nature your initial concepts are going to be imperfect so you are always going to be able to find flaws in them that you’d like to improve upon and resolve. Furthermore, bearing in mind your objective is now to get as many of your remaining concepts successfully through to the end of the program as possible, so they can have as great an impact on your company and the market as possible, it’s imperative you stress test them all thoroughly and do your best to tear them down. And if you fail to tear them down then you either need to try harder, get other points of view, or you’ve done your homework well. Hopefully it’s the latter. If you’ve followed the program correctly, and I’m sure you have, then finding significant or terminal flaws in your concepts and thinking should be difficult, and crushing them, whether it be from a commercial, consumer, design, market, or technical perspective, should be at the least very difficult. However, all that said, even at this stage in the program there is still the chance that you’ve overlooked one or more key factors that might derail them later on in the program, so if that’s the case then it’s better to discover those flaws right here right now in this stage, rather than later on in the program in front of your leadership team during the PRESENTATION STAGE where their airing will be much more of a public affair. ESSENTIAL THINKING When you have your head buried in the program sometimes it’s easy to overlook things, so here are some essential things to bear in mind to help you get the most from your journey... Chaos Monkeys If your concepts are standing up to scrutiny then consider throwing multiple spanners into the works by introducing chaos into the mix which is the ultimate test. Embrace Interruption If you are stuck trying to find different ways to tear down your product try tearing them down from a variety of different perspectives, such as trying to interrupt them using different business models, and so on. Go All In 293311institute.com EXPLORE MORE BOOK AN EXPERT CALLWhen attempting to tear down your concepts it’s important to try to tear them down from as many perspectives as imaginable, whether it’s their utility or usefulness, value proposition or business case or model, or many other possible perspectives. War Rooms Set up a War Room where, acting as your competition, you and your team do your utmost best to tear down, undermine, and destroy your concepts. Spare no mercy and be ruthless, and if you are struggling to find flaws then either you have done a good job or you need to take a different tack. Notes: 294311institute.comNotes: 295311institute.comLAUNCH STAGE • PIONEER TEAM • TEAR DOWN STAGE TASK SUMMARY Your task during the TEAR DOWN STAGE is to review the feedback from the PITCH STAGE and find weaknesses in your remaining concepts. SCHEDULE You have TWO DAYS to complete this stage. MONTUEWEDTHUFRISATSUN REVIEW SESSION Review and summarise your findings in order of impact. Discuss objectives and start the final tear down of your concepts. KICK OFF WORKSHOPLAUNCH STAGE • PIONEER TEAM • TEAR DOWN STAGE GUIDANCE ACTIVITY LIST1. Conduct a Kick Off Workshop. 2. Conduct a Review Session. TIPS1. Be conscientious and thorough in your evaluation. 2. Experience your concepts from the view point of the customer. 3. Evaluate the concepts from your competitors perspective. 4. Keep a clear head. 5. Keep the programs objectives at the forefront of your mind. 6. Take emotion out of the equation, consider everything logically. 7. Use a War Room. 8. Use visual aids where necessary. CRUCIAL MOMENTS1. Listening to the feedback. 2. Prioritising your weaknesses correctly. RISKS1. Participants are late or absent. 2. Participants don’t dig deep enough. 3. Participants fail to spot issues that would kill the concepts in the market. 4. Participants let emotion cloud their judgement. 5. Participants loose sight of the programs objectives. 6. The solution erodes the concepts value. 7. You get lost in the minutiae. DELIVERABLES1. A categorised and prioritised list of all your concepts weaknesses. OUTCOMEBy the end of this stage you will discovered and summarised all the weaknesses in your concepts.IMPROVEY OUR FINDINGS from the TEAR DOWN STAGE, irrespective whether they’re good or bad or the form they take, will now play a pivotal role in helping you improve your remaining concepts as well as putting you in a better position to build more impactful prototypes. They will also help you better articulate your concepts strengths and handle any questions or objections you might encounter during the upcoming PRESENTATION STAGE. It’s now time to use your findings and your summaries to find ways to resolve your concepts flaws. ESSENTIAL THINKING When you have your head buried in the program sometimes it’s easy to overlook things, so here are some essential things to bear in mind to help you get the most from your journey... Go For Impact When it comes to resolving the weaknesses and flaws in your remaining concepts resolve the weaknesses that are the highest priority and have the greatest impact first, then if you have time move on to the others. It’s Continuous This stage is all about improving your concepts and mitigating and eliminating the flaws you discovered, but remember that improvement is a continuous process and you should always be on the look out for new flaws that need to be evaluated and resolved. Make The Mods In light of the information you gathered during the TEST STAGE and TEAR DOWN STAGE you now need to make the necessary adjustments to your concepts and business cases or models, if there are any. This is also the time when you are faced with three potential directions, namely pivot, iterate, or proceed, and which direction you choose when choosing how to resolve flaws will be down to the insights you gathered. Mind The Flow When you’re trying to eliminate or mitigate your concepts flaws it’s all to easy to become compartmentalised in your thinking, so once you’ve brainstormed some solutions take a step back and consider how they will impact the overall flow and impact of 299311institute.com EXPLORE MORE BOOK AN EXPERT CALLNext >