Concept Pitch Definition
Creating momentum around a new idea can be difficult because sometimes, you don’t know where to start. When evaluating a new product, solution, or idea, the initial exploration stage is essential to get it right. Asking the right questions is key to framing the idea correctly and accurately showing how it could succeed. The concept pitch template provides a valuable structure for doing just that.
The concept pitch template is perfect for preparing a pitch or discussing the unique value of an idea. This template is good at creating an overview of the idea being considered, touching on its unique value, and establishing why it will work. It’s important to cover these bases when exploring new ideas because it can give you a quick understanding of their potential to succeed or if there isn’t enough upside to pursue them.
Because it functions as an effective overview of new ideas, this board is often used as a pitch template to get people on board. In this way, it can be helpful to create momentum behind the development of your idea.
The concept pitch template is a good mix of thinking broadly and considering how to move forward immediately, so it gives people a good idea of the vision and implementation of the concept.
Concept Pitch Template
Creating a concept pitch is relatively simple, and doing so helps you explore the validity and value behind an idea. Here is the basic structure for building one.
- Define your concept: The first step is defining your concept accurately. Everyone needs to have a shared understanding of the basic concept, what it does, and why it’s being suggested. After this is communicated, you can begin brainstorming the details.
- Solution: What problem does this concept solve? Brainstorm solutions for the existing problem your concept is targeting and how it will improve that problem.
- Value Proposition: What’s the value proposition? What is the core idea behind why your concept is better or more valuable than other similar concepts?
- Idea Description: How does your concept work? Make sure you get as specific as you can in detailing the ways your concept functions and the value it provides to people.
- Metrics: How will you measure the success of your concept? What metrics will you use to gauge your specific and overall success?
- Risk: What would cause this concept to fail? What are the risks you are taking on? What things have the propensity to go wrong?
- Testing: How will you test your concept? How can you validate that your idea has value and will be used by customers?
- Timeline: What would it look like if you were to begin implementation? How long would it take? Are there any critical milestones along the journey?
After diagramming these items, think back to your initial idea and value proposition. Now that you’ve thought more about the risks and the timeline, has anything changed? Consider any other potential concerns or motivations for your idea and discuss those.
After that, you’re ready to pitch! You can easily share this template with anyone by using an online whiteboard to create your concept pitch. This is the easiest way to share and collaborate on your board and is very useful when pitching it to other people.
Concept Pitch Benefits
The goals of the concept pitch are simple: you should demonstrate why your idea matters, how it works, and what the implementation timeline will look like. You can also communicate potential risk and success metrics to anyone with doubts. Here are some of the benefits of using a concept pitch.
- Communicates ideas: The point of a concept pitch is to explore ideas and convince people to help pursue them. This template makes communicating an idea very easy because it presents the information in a simple and digestible structure. This helps communicate your vision to anyone, regardless of their previous context.
- Provides a quick overview: The concept pitch template covers the essentials while not going too in-depth in any one place. This means it gives a quick overview of an idea without getting caught up in the details. This is important when exploring an idea initially because you want to assess multiple channels quickly.
- Incorporates risk: It’s easy for teams to ignore the inherent risk behind their ideas because it challenges their validity. The concept pitch forces you to think about the risks behind your idea to test if it’s feasible or not. This makes it much easier to discover which ideas have real potential and which are too risky to pursue.
Fresco’s Concept Pitch Example
To help establish how to use the concept pitch template, we outlined how it would apply to a new product. Specifically, a new computer mouse and trackpad that are connected. Here is what we added for each section.
- Fixes any problems with Bluetooth connection and cursor tracking due to precision data.
- Current mice rely on multiple connectors – this creates a holistic solution.
- This product allows you to game with dual-monitor precision, so you never lose connection.
- This option is more precise than any existing market alternative.
- Provides a two-way connection between mouse and pad to create a precise experience.
- Built out of carbon fiber and plastic to be lightweight and durable.
- Pad and mouse come separately but connect.
- Shaped with sustainability in mind and tuned to precise movements.
- Product market fit is a good gauge for early adoption and success.
- Track purchases from different sources to optimize buy-in at an early stage.
- Need to ensure the fit is perfect and viable.
- Solution needs to deliver on accuracy and dependability to match the branding.
- The product will be tested by internal robotics team.
- Additional testing from prototype users who will track feedback and help evolve the vision.
From this template, you can see how using the concept pitch makes it easy to communicate an idea holistically while also evaluating some specific risk potential.