150302 lep class-4-final
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The document outlines a class presentation on validating hypotheses for a business model. It discusses 10 hypotheses for key elements of the business model like customer segments, value propositions, channels, and revenue streams. Each hypothesis is given an impact score and likelihood of being invalid. Methods for testing each hypothesis, such as interviews and surveys, are provided along with criteria for validation. The presentation also includes the business model canvas and lessons learned from developing the project.
150302 lep class-4-final
- 1. March 2, 2015 CLASS PRESENTATION 3 Lean Entrepreneurship Project Chief Food Officers Team 4
- 2. Agenda Business Model2 The 10 Hypotheses: Prioritization, Overview and Validation Forms 1 Lessons Learned3
- 3. The 10 Hypotheses: Prioritization The 10 hypotheses that score highest are our 10 hypotheses to evaluate Customer Segments, Channels and Revenue Streams are the most important components.
- 4. The 10 Hypotheses: Overview Customer Segments: Time poorCS1 Customer Segments:Lazy/ Don‘t want to cookCS2 Value Propositions: QualityVP1 Value Propositions: Fast DeliveryVP2 Channels: WebsiteCH1 Channels: Mobile ApplicationCH2 Customer Relationships: Automated/ CustomizedCR1 Revenue Streams: Comission FeeRS1 Key Activities: DistributionKA1 Revenue Streams: Delivery FeeRS
- 5. CS1: Time poor Business Model Impact: 5 Likelihood of Invalid Hypothesis: 2 Hypothesis Time-poor consumer will order food online. Test Interview 25 consumers from the segment “time-poor consumers” and ask them if they would order food online from our website. Validation At least 70% of the respondents state that they they would order.
- 6. CS2:Lazy/ Don‘t want to cook Business Model Impact: 5 Likelihood of Invalid Hypothesis: 3 Hypothesis Lazy consumers/consumers who don't want cook will order food online. Test Online survey to 100 potential customers (mainly students) and ask them if they would order food online from our website. Validation At least 75% of the respondents state that they they would order from our website.
- 7. VP1: Quality Business Model Impact: 4 Likelihood of Invalid Hypothesis: 3 Hypothesis High food quality increases consumers‘ likelihood to order food online. Test Online survey to 100 potential customers (university students, young professionals, etc.) to find out if a high food quality would increase increase their likelihood to order food online. Validation At least 70% of the respondents state that high high food quality would increase their likelihood
- 8. VP2: Fast Delivery Business Model Impact: 4 Likelihood of Invalid Hypothesis: 3 Hypothesis Fast delivery increases consumers‘ likelihood to order food online. Test Online survey to 100 potential customers (university students, young professionals, etc.) to find out if fast delivery increases the likelihood likelihood to order food online. Validation At least 70% of the respondents state that fast delivery would increase their likelihood to order
- 9. CH1: Website Business Model Impact: 5 Likelihood of Invalid Hypothesis: 4 Hypothesis Our customers will use a website to order food from different types of restaurants. Test Interview 35 potential customers (university students, business people, busy mothers, ..) to see how approachable and convenient would this tool be and how useful it would be in their daily tasks management. Validation If 80% of the interviewees consider using this tool to order food online, we should validate the the hypothesis.
- 10. CH2: Mobile Application Business Model Impact: 4 Likelihood of Invalid Hypothesis: 5 Hypothesis Our customers will use a mobile application to order food. Test Interview 35 potential customers (university students, business people, busy mothers, …) to to see how approachable and convenient would would this tool be and how useful it would be in in their daily tasks management. Validation If 60% of the interviewees consider using this tool to order food online, we should validate the the hypothesis.
- 11. CR1: Automated/ Customized Business Model Impact: 4 Likelihood of Invalid Hypothesis: 3 Hypothesis Automated but simultaneously customized relationships are important to build/increase customer satisfaction. Test Interview 20 potential customers (university students, young professionals, etc.) to find out if if they like these kinds of relationships. Validation At least 70% of respondents state that they would like these kinds of relationships.
- 12. RS1: Comission Fee Business Model Impact: 5 Likelihood of Invalid Hypothesis: 4 Hypothesis Restaurants are willing to pay a comission fee in order to have their services listed on website website and mobile application. Test Interview 35 potential restaurant partners to find find out if there is a willingness to pay. Validation At least 75% of the persons interviews state that that they would pay for our service.
- 13. RS2: Delivery Fee Business Model Impact: 3 Likelihood of Invalid Hypothesis: 4 Hypothesis Customers are willing to pay for the delivery service which means an additional cost compared with the normal prices of the restaurant. Test With a landing page with fake food ordering at at home with a delivery fee OR/AND 100 online online surveys to potential customers (students, (students, young professionals, etc.). Validation When more than 1000 people click for ordering ordering the food with the delivery fee OR/AND 50% of the respondents state that they they would pay an extra for the delivery.
- 14. KA1: Delivery Business Model Impact: 4 Likelihood of Invalid Hypothesis: 5 Hypothesis We can rely on our restaurant partners to take Test Telephone calls or interviews with 30 potential potential partner restaurants to find out if they Validation At least 50% of respondents state that they are
- 15. Business Model Key Partners Key Activities Value Propositions Customer RelationshipsCustomer Segments Revenue Streams ChannelsKey Resources Cost Structure Time Poor Lazy/ Don’t want to cook Personal Assistance (Phone) Automated/ Customized Website Mobile Application Quality FoodVariety Fast Delivery Easiness/ Convenience Sales Marketing Delivery Scooters IT System Partners Brand Marketing ScootersHR Rent Comission Fee from restaurants Delivery Fee from final consumers Restaurants and Takeaways IT Partners Scooter Suppliers
- 16. Lessons Learned How to develop a business name in group How to validate a Business Model Hypothesis “How to Conduct an Interview Effectively”,http://www.entrepreneur.com/arti cle/225960
- 17. - Thank You -