#week 5.0
Check our week step by step!
18-05-2015
Monday and details.
Today was the last class of lean entrepreneurship and we are all feeling a little bit nostalgic and with the sense that we would need much more time to execute a proper analysis for our idea but since this subject is only for one trimester - that are in fact 6 weeks - we will need to work the double outside the class in order to have everything ready for the pitch that is going to happen at Fabrica de Startups.
Today we presented the work that we have been developing during the last week. We receive some valuable feedback regarding our website (minimum viable product) - we should put on the front page of the website the option for the clients to make a reservation. This week we will start to work first on the financial analysis for Book a Chef, something simple that involves a projection for the next 3 years. We also divided tasks among us and we arrange a meeting for Friday since this week some of the group's members will be very busy with final projects and works to deliver and also exams.
Lessons Learned:
Monday and details.
Today was the last class of lean entrepreneurship and we are all feeling a little bit nostalgic and with the sense that we would need much more time to execute a proper analysis for our idea but since this subject is only for one trimester - that are in fact 6 weeks - we will need to work the double outside the class in order to have everything ready for the pitch that is going to happen at Fabrica de Startups.
Today we presented the work that we have been developing during the last week. We receive some valuable feedback regarding our website (minimum viable product) - we should put on the front page of the website the option for the clients to make a reservation. This week we will start to work first on the financial analysis for Book a Chef, something simple that involves a projection for the next 3 years. We also divided tasks among us and we arrange a meeting for Friday since this week some of the group's members will be very busy with final projects and works to deliver and also exams.
Lessons Learned:
- Feedback from Professors always help us to identify things that we have never though before;
- Having the booking button in the first page of our website will be more user friendly and intuitive.
19-05-2015
What you can measure you can manage!
What you can measure you can manage!
Today we begun to do our Financial Projection for the first 3 years of Book a Chef. We came to the conclusion that our fixed and variable costs will be very reduced since we only need to spend money on marketing activities, insurance and website development and maintenance in the first stage of our idea - the App will be something that we will introduce latter maybe after 1 year.
We also start to gather some contacts of Food Bloggers and possible amateurs to continue to validate our hypothesis since they are new variables that we include in our business model. It's crucial to keep testing and validating our hypothesis in order to have a solid business model capable of actual working and generate profits.
We also arrange a meeting for Friday since we need to divide tasks and continue to work on Book a Chef on this final stage of the work.
Lessons Learned:
- What you can measure you can manage;
- Financial sustainability is crucial;
- We need to show investors how we make money;
- We need to look at the big picture.
20-05-2015
Back to empathy maps, persona and day in the life!
Back to empathy maps, persona and day in the life!
Since we decided to add a new segment for our service - amateurs - we will need to develop empathy map, persona and daily in the life for it. We feel that is essential to maintain coherence between what we have been doing so if we feel the need for adding a new segment we need to develop the same work that we have done for the other segments each involves some creative insights by using piktochart and other similar tools. We don't feel that we are moving backwards by doing this, we feel that we are growing by enriching our work and make it more real. With everything done, we will add the new work here in the blog.
Lessons Learned:
- We need to constantly validating our business model and if we create new segment we need to develop all the previous work for it;
- Constant evolution is key;
- Changing things does not mean that we are doing a bad work, it means that we are able to identify points of improvement;
- This work will never be finished because is something that requires constant evolution.
21-05-2015
Deciding powerpoint structure for final pitch.
Deciding powerpoint structure for final pitch.
Today we start to think about the powerpoint structure for the pitch presentation happening at 4th of June in Fabrica of Startups. We want to incorporate in our presentation some things that we saw in the video that the Professor showed last class - we want to put a metaphor to illustrate a pain, a video that represents a demo of our service, lots of images and few text. We want to tell a story, something capable to captivate the audience and that sticks in the other people's mind.
Lessons Learned:
- Story board it's crucial - we need to tell a story and have an organized way to present our ideas;
- A little summary at the end and at the beginning of the pitch will make the audience retain the main ideas;
- Target market, size of the market and conversion rate are essential features for a pitch;
- We need to present our team to show investors that we are not alone on this and that we have by our side a diverse combination of people that are capable to deliver a good work.