The above video explains our business idea. Now it's time to put it to the test:
Here's a closer look at our very first Business Model Canvas:
Value Proposition: with the use of our app, people will be able to save time and money when looking for an open street parking. It will also help reduce their CO2 emissions, so they will be contributing to clean air in their city.
Costumer Segments: our costumers are people that have trouble finding parking spots when they drive to work, school, home or when dropping off their kids at daycare or school. This could also be used by people who want to save money as a tourist in busy cities.
Customer Relationships: build a community where people share parking information with an easy to use app.
Key Activities: for the app to work we must provide 24/7 access for community sharing.
Marketing activities to promote the app.
On going activities should include updating maps, navigation services and rewards programs.
Other activities include public relations with cities.
Key Resources:
Intellectual: transportation know-how, patterns, copy right for the idea.
Human: network of professors, lawyers and developers. Small team for IT support.
Financial: potential funding like angel investors, network of friends and classmates, school support and competitions.
Key Partners: cities backing up the app to reduce pollution. Shopping centers, malls, airports willing to use the product. Third party servers and navigations systems.
Channels: the app will be available through different app stores. Online viral marketing. On the street team pointing towards parking spots using beep beep. Traffic jam radios.
Cost Structure: low cost structure with fixed costs ranging from salaries, servers, contractors,
Variable costs would include marketing, local adaptation, research.
Revenue Streams: advertisement, subscription, transactions fees for real time information, selling user data to stores, developers.
Users can pay through iTunes, Play store or credit cards.
Excellent start! Wonderful example of using a video animation. Sure you can use that as well for getting valuable feedback. Indeed, now test it! But perhaps also push your vision/hypotheses some more! For instance, develop a high level, back of the envelope business case.
ReplyDeleteAlso important seems to be the different roles that your customers/users play: both a demand and a supply role. Envision/map the processes of how prototypical users engage with your service (for instance also contrast the situation before/without your application and the situation after adopting the service).
Key partners: you create value for them! might they be interested to provide you with cash to build the app?
Great video!
ReplyDeleteFollowing Ferdinand's thoughts, I wonder whether your ideal customer is somewhat peculiar: he/she wants to save time to find a parking place but he/she is willing to leave the parking place not in harry, but willing to wait for a 'new customer' to rent the parking spot. Are those customer groups the same (the buying group and the selling group)?
Back to your value proposition: it is clear to me why there is saving time to find a parking lot with your application. But why saving costs? What costs are we talking about? The costs of fuel or the cost of an alternative option (e.g. parking garages). And I wonder whether the two propositions of "saving time" and "saving money" are aligned. They could be orthogonal: I pay more to save time, or I save money by looking further for a parking place.
Last comment: make a cost analysis on how much are your customers going to save in terms of time and money in comparison with the current options (1. looking for a parking spot. 2. parking garage. 3. ??)
Thanks for the comments! They are very useful and we will be taking a closer look at your suggestions!
ReplyDeleteBeep Beep