Week 16: Presentation of Updated Outputs and Deliverables

 Presentation of Updated Outputs and Deliverables

Old Business Canvas

Updated Business Canvas

    As mentioned in the previous blogs, I will be tackling about the mistakes that we committed in making the business model canvas. The picture above shows our old business model canvas compared to the new and updated business model canvas, which has a lot of differences. The customer segment remained the same as our target customers involve students and business owners. And for the majority on the other hand, it is divided into two segments, which are color coded by orange and blue coloring;  orange for students, and blue for business owners. As for the customer relationship, I change it to online and in person for both students and business owners as our startup idea connects with them through in person and online. As for Channels, I changed both with social media. For the Value proposition, I added more detail to it, because the previous one was unspecific. The last change was in key partners, in which I added universities for students.

Old Market Size 

New Market Size

    Another change in the project deliverables is the market size of the startup, which can be shown on the two pictures above. Before, the TAM (total addressable market), SAM (serviceable available market), and SOM (serviceable obtainable market), only included the students, which are 20,213, 115, 869, and 885 Million respectively. This is changed as both customer segments, the students and the business owners needed to have their own market size. Hence, we added 27, 598 for the SOM, 91,264 for the SAM, and 1,000,506 for the TAM.

Old Traction Channels

New Traction Channel

    Last update on our deliverables is the traction channel. The changes we made is that we moved Social Media as the primary traction channel for our startup ideas, because of the insights I learned in digital marketing lesson. BizDev remains as primary because that is the main theme of our startup idea which involves collaboration and partnership with local stores or business owners. We moved SEO and SEM to the secondary as we have learned that these two traction channel types are not recommended for beginners as we have not built a large amount of audience nor we have the financial resources to achieve such feat.