Eva Power Columbia Univ 2020
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business model, business model canvas, columbia, customer development, lean launchpad, lean startup, steve blank
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Eva Power Columbia Univ 2020
- 1. Interviews Customer count until now → 63 52 residential homes Customers since last class → 8 8 residential homes
- 2. There is only ONE renewable energy product that is both viable and available to homeowners. It’s time for ANOTHER option.
- 3. Product Specs. ● 400W per day ● 24 hour clean power generation ● 2-3 year return on investment time ● One size coupling capability ● $400-600 ● Indoor & Outdoor Compatibility
- 7. Day 1 : Key Learnings ❖ Customer segments: ➢ Too broad (don’t boil the ocean). ➢ Product specifications not well defined. ➢ Our key partners should also be customer segments. ❖ Value Proposition: ➢ Do not define product specifications here. ➢ Define what how our product alleviates the customers problems. ➢ Define MVP. ❖ Key Next Steps: ➢ Narrow the customer segment and redefine our business model to fit our target customers. ➢ Completely reword our value propositions.
- 9. Day 2 : Key Learnings ❖ Value Proposition ➢ We boast a smaller space requirement for energy production, but renters still require a smaller unit to be completely satisfied. ❖ Customer Segment ➢ Renters only interested in buying a single unit. ➢ Golf Clubs more interested in ROI, not necessarily renewable energy. ❖ Key Next Steps: ➢ Focus on homeowners as potential customers. ➢ Focusing on 9 hole golf courses and 18 hole golf courses individually.
- 11. Day 3 : Key Learnings ❖ Channel/Revenue Stream ➢ Decided to focus solely on direct sale methods ❖ Customer Segments/ Value Proposition ➢ As a start up, 18 hole golf courses are not our target customer. ➢ Determined where homeowners would implement EvaPower. ❖ Key Next Steps: ➢ Discover general number of units homeowners are willing to buy. ➢ Determine the customers’ comfortable price range ➢ Pivot from golf courses.
- 13. Day 4 : Key Learnings ❖ Customer Relations ➢ Expanded and improved “Get” strategy ❖ Customer Segments ➢ Younger demographic homeowners are more interested in the product than the older demographic. ❖ Key Next Steps: ➢ Target housing developers in charge of building sustainable house communities. ➢ Target governments of other nations that are pushing for renewable energy.
- 14. Get Strategy Generating Awareness & Interest ● Columbia University ○ Articles, news, free media publicity ● Expos with demonstrations ● Clean energy Influencers ○ Promotions and reviews ● Door to door advertising ● Company website
- 16. Where we ended? ➢ Homeowners are currently our biggest customer ➢ Possible housing developers. ➢ Estimated price $400-$600 per unit ➢ Direct Sale Model What to do Next? ➢ Seek water purifying companies that need electrical power to clean the water. ➢ Target housing developers in charge of building sustainable house communities. ➢ Target governments of other nations that are pushing for renewable energy. ➢ Mayor De Blasio's push for all residents to have clean energy by 2024→ reopens renters market ➢ Pursue other online platforms to advertise our technology
- 17. Channel Road Map Product Aware ness End-User Customer Website Evalu ate Sales force Shipping Maintenance and Installation Retail Store Product Website End-User Customer Direct Day 1 Day 5 : Direct Sales Indirect Sale Licensing/ Patent sale
- 18. Revenue Model Goods and Manufacturing R&D Engineer ing Advertisi ng Profit $125 Shipping $150 $35 List Price: $500 30% 7% $50 Sales force 25% $50 $90 10% 10% 18% Income : List Price $300 ➢ Leasing ➢ Direct Sale ➢ Indirect Sale (Retail, Wholesale, Amazon) ➢ Selling Patent Expenditure ➢ Sales force ➢ R&D ➢ Goods and Manufacturing Day 1 Direct+indirect Day 5 Direct Sale Only
- 19. Day 2 $7T Day 5
Notas do Editor
- I say we delete the names
- Clearly we were an absolute mess on day one.
- Updates: Channels: Due to our main revenue source being direct to residential consumer, customer feedback showed that adding partners/channels such as amazon would make our product more accessible to them. Customer Segments: After Speaking with customers of the rental background, due to the fact that our value proposition boasted that our product reduced the overall electricity bill of our customers by at least 10%, the majority of renters (specifically in NYC) do not have adequate space for our minimum size product. This would lead to a smaller revenue stream because of lack of space which would lead to fewer purchases. (talk about how this would be a potential novelty item for them) We also spoke with homeowners in several states, our feedback was more positive: homeowners were seeking to buy more than one unit, which would increase our direct sales. Customer Relationships- Homeowners have expressed their need for a warranty or free period of maintenance since since they are making a large investment. Add profesor sahin to “dictionary?” and get rid of small golf courses!
- Completely chnge the blue box!
- Add sahin to dictionary!
- Talking points: We have a direct channel Raising awareness Having our product used by Columbia results in articles, videos, news stations talking about out product Possible famous renewable energy vloggers, bloggers Self advertisement, word of mouth, social media, Evaluation Based off the feedback from Tom Using our MVP mentioned earlier, our price saver calculator Purchasing: Website sales Door to door sales Over the phone sales Sales Force: Door to door - need to talk about how we hire door to door people , phone calls Shipping: To be Determined After Sales Maintenance, sales, warranties.
- Transportation Sales Force Manufacturing R&D, engineering, Labor Advertising