etcetera columbia
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Transcript of etcetera columbia
Completed Interviews: 60
An entrepreneurship consulting platform
designed to help underrepresented
entrepreneurs learn & build scalable businesses.
Team Members
Chanique Vassell Riley Jones Jordyn Simmons John Kotey
Degree Program and Department Major
B.A. in Political Science
B.A. in Political Science
B.A. in Africana Studies and Political Science
B.S. in Electrical and Electronics Engineering
LinkedIn URL https://www.linkedin.com/in/chanique-vassell-616975ba
linkedin.com/in/rileyjonesiv
https://www.linkedin.com/in/jordyn-simmons-14629851
https://www.linkedin.com/in/johnkotey
SME No Yes No No
Role Hustler Picker Designer Hacker
Interesting Facts Born and raised in Jamaica
Sings Opera Has DJ’ed for celebrities
Worked for Google
Partners
- Chambers of Commerce
- Nonprofit Organizations that teach entrepreneurship
- Educators
Activities
- Develop a curriculum- Develop a website- MarketingCustomer Service
Value Proposition
- Access to entrepreneurial knowledge for people without it
- Creating a community for people to work through their ideas
Customer Relations
- Social Media- Small Business Fairs- Conferences
Customer Segments
- 21-35 y/o interested in starting a business
Resources
- Video Content- Server Space
Channels
- Website
Costs- Web Development/Maintenance - Data Storage
Revenue Streams- Freemium model for video content
Day 1Business Model Canvas
Customer Segments
Our only customer segment is individual customers of color (ages 20-34)
Resources
We would need to build a website with different tiers of content
Value Proposition
Our major value proposition would be connecting people to information
Revenue Streams
Revenue would be driven by paid content
Day 1What We Thought
Day 2What We Learned
Customer Segments
● Our segment is interested in starting their own businesses
● They want access to tools to help them decide the viability of their businesses
Revenue Streams
● People are willing to pay for the resources that we would provide (even more than $10)
Day 2What We Learned
Day 2How our Product Evolved
What We Thought
Users only wanted videos and articles
What We Learned
Users want tools to help them build their businesses
Customer Segments
● Customers are interested in and willing to pay for ADVISING
Customer Segments
● Our services could also be useful to educational organizations and companies already helping underrepresented entrepreneurs
Day 3What We Learned
Day 3How our Product Evolved
What We Thought
Users only wanted videos, articles and tools
What We Learned
Users want tools to be connected to Advisers
Customer Segments
● Website/Mobile App is the best channel to reach our customers
● Customers are interested in a service that would help them find access to capital
Revenue Streams
● We could charge for helping to link investors and advisers to budding entrepreneurs
● Advisers may not want to charge
Day 4What We Learned
Category Hypothesis Test Pass/Fail Criteria
Channel Entrepreneurs: Will visit the website or app for information, tools, and/or advising.Advisers: Willing to offer virtual advising to entrepreneursPotential Investors: Interested in learning about new businesses to invest in
Interviews with all customers segments (Entrepreneurs, Advisers, Organizations, Potential Investors)
(PASS) Entrepreneurs: Do not prefer the access of physical resources and/or does not have access to mobile devices or the internet (PASS) Advisers: Willing to offer virtual advising to entrepreneurs (phone calls; video conferencing) (PASS) Potential Investors: Would be interested in learning about new businesses from entrepreneurs through our platform
“Get Strategy”
People at conferences, small business fairs and in co-working spaces are interested in accessing entrepreneurial advice via the Internet
Interviews with all customers segments (Entrepreneurs, Advisers, Organizations, Potential Investors)
(FAIL): Entrepreneurs interested in our services are not at the events that we will target
Revenue Model
Entrepreneurs: Will be willing to pay to access premium content and market insight toolsAdvisers: Will be willing to share advice and offer consulting services for profitPotential Investors: Willing to pay to have access to people with ideas
Interviews with all customers segments (Entrepreneurs, Advisers, Organizations, Potential Investors)
(PASS) Entrepreneurs: Willing to pay $10 for subscription services which will provide access to additional content (PASS) Advisers: Want to ge paid for their advising services(PASS) Potential Investors: Willing to pay for access to companies that have been vetted through the Etcetera platform
Women of Color Entrepreneurs
between 20 and 34
Educational Organizations& Incubators
Entrepreneurship AdvisersInvestors
● Teach courses for free● Manage groups of
aspiring entrepreneurs
● Use an array of tools to teach fundamentals of business
● Advisers interested in providing industry-specific advice for free or for a fee (More testing needed)
● Investors looking for recommendations of high potential companies from women of color to invest in
● Interested in starting scalable business
Customer Segments
Social Media
Small Business Fairs & Coworking Spaces
Conferences
Day 4How our Product Evolved
What We Thought
Users only wanted to be connected with Advisers
What We Learned
Users want access to investors
Channels
● The platform (web and mobile) is a feasible means to connect to our key customer segments, women of color entrepreneurs and educational organizations
Revenue Streams
● Considering that it is problematic to charge entrepreneurs, we should consider how we can stay a for profit but develop relationships with corporate partners?
Day 5Where We Ended
Business Model Canvas
ConclusionNext Steps
The market for entrepreneurial education is saturated but if we create a robust platform that offers more than just information, we can differentiate ourselves
Conduct more interviews to redefine or confirm our revenue streams
CustomersGet: Attend small business fairs and entrepreneurial conferences, Adwords, SEOKeep: Branding/Marketing, Customer ServiceGrow: Expanded Tools
Finding corporate sponsors and advisors
Platform development(Mobile and Web)