Completing this project brought forth the difficulties of producing a seamless pitch from a product feasibility and preparation perspective as well as a team strengths.
In the process of hitting all the requirements for the pitch, we obviously noticed the high standard of robust research needed to assemble a quantitative and qualitatively supported product proposal. Not only was it hard to obtain market research (since there are normally companies who sell this data), estimate the costs comprehensively and reason about revenue, it was also hard to be confident that our product was indeed something that could feasibly outcompete those in the cutthroat food-dense San Francisco scene. Going about this process of hypothetically going to market highlighted the difficulty of establishing a new restaurant venture.
Furthermore, it was apparent that our pitch needed to not only be robust visually and quantitatively but also survive the queries from the panelists who have instincts for spotting areas of weakness. Not only did this entail knowing information inside and out but also knowing who on your team would be best to answer a certain question, each taking on the responsibility of a “domain” expert on one area of the pitch, reinforcing the importance of team dynamics and a founder-market fit of sorts in which the team express that they are the right people for this job.
All in all, I learned to build more skills in accountability, delegation, and discipline in research.
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