taxi driver Get you from A to B.Opportunity Execution Project Stanford Venture Lab Technology Entrepreneurship Autumn 2012 Alfredo, Christoph, Daniel, Gustavo, Konstantin, Xavi
Executive SummaryToday’s business people are struggling permanently with limited time resources: lack of time to consider all the information available lack of time to keep all the relevant appointments lack of time to participate in all important external events etc.Especially SME’s are facing the huge problem of administrative expenditure, one ofthem is the expenditure for travel management. Even simple business trips require theuse of several means of transportation, which makes the booking process quitecomplex and time-consuming. Moreover delays during the business trip can lead notonly to unexpected costs but also require time (and a lot of energy) for rebooking.Now, imagine there is an app which allows you to book your business trip from A to Band your route is automatically update in case of any time delays. You book once, haveonly one contact person and get only one bill. It’s more than a virtual travel agent - wecalled it your business TAXI DRIVER!
Fundamental Problem:The pain of travel planning.How to get all tickets aligned? You just want totravel from A to B with whatever fits: cab, bus,train, airplane, car, rental cars, boats, bikes oreven snowboards. Let us consider a relativelysimple travel plan as illustrated.• How many times do you have to change the A simple travel plan: means of transportation during this trip? Car from Stanford to SFO Park car at SFO• What about if there is a traffic jam on the airline from SFO to LAX. way to SFO and you cannot catch your Pick up a taxi from LAX flight? Arrive at Malibu. Spend a weekend. Take a bus shuttle to LAX. Fly from LAX to SFO. Pick the car and drive home
IdeaWe combine travel options. We help you to forget the hassle.1. Take your smartphone.2. Select your route from A to B and Bam. Here we go.3. Just one price.We mix travel options, put everything together and offer one booking. No longcollection of taxi, bus or airplane receipts. You can spend your spare time to relax andto focus on your business trip by sharing your experience.And in case one part of your travel is delayed, we take care about this too. We informall travel partner about your late arrival. Everybody cares about you. We will ensure,that you will reach your destination.Welcome to the new world of business travel. Enjoy.The all-new Taxi Driver.
Product Its an app for your smartphone with an automatic dealer backend. Added value will be provided with a call center for customer service. Customer smartphone is used to gatherPick your Smartphone information about the trip status. User does self-care in most cases. Select parts of its route. It is as easy as using Google Maps. Start booking next business trip from A to B, specifying the time schedule and means of transportation. Our backend checks the availability of our travel partners - airlines, car rentals and sharing services, travel agencies, public transportation, taxis even bikes rental etc. We give you Select route. immediately a feedback about possible solution and costs, customer has to confirm afterwards. During the trip we can monitor your GPS-position and identify automatically any delays in your time schedule. In case of delays we will inform you about possible alternatives (and any additional costs) Done. When you arrive at B just rate us with regard to your satisfaction - our goal is to offer the best possible service to you!
Market We will focus at the beginning on national-only US business travel: total of USD 249 billion as direct spending on business travel by domestic and international travelers, including expenditures on meetings, events and incentive programs. USD 150 billion of it for direct spending which is 60% of the total business travel the national-only business travel direct spending in the US counts about USD 50 billion (60% of USD 82 billion) On the other hand the market with respect to SMEs in the US can be estimated to USD 54 billion 27,262,983 SME’s in 2008 with an average number of employees of about 105.270.603 average per enterprise is about 4 employees assuming that at least one employee has to travel leads to a number of 6,815,746 SME business people if they have to travel about 20 times a year with average costs per trip of USD 400 gives a total of USD 54 billion. Target at first year is 0.001%, at the second year 0.01% and at the third year 0.1% (USD 50 million) international booking should be implemented in the near future but requires international partnerships. value proposition is: time-saving, because time is money!
Business Model Canvas KEY KEY SERVICES RELATIONSHIPS CLIENTS PARTNER ACTIVITIES • Logistics Companies Build software for travel Easy travel from A to B Customer satisfaction surveys. Generic: People in all • City Administrations scheduler autonomous taxi service Fidelity Programs: metropolitan cities • Technology providers App to control/order car Customers do not need to Free vouchers to use premium between the ages of 8 (Hardware/ISPs) search parking lots vehicles for regular customers. and 100 • Large private customers Customers do not need to go Free rides campaigns to attract new • Advertising Agencies to the a car renting station customers. Age segments Car use on demand (cost Free vouchers for customers who People under 18 saving) bring other customers. People over 18 and Safer mobility (reduces under 65 human factor) Elderly people Efficient mobility (reduces unnecessary trips & optimizes Segments by nature routes) People that use a KEY Find friends along the road CHANNELS daily service RESOURCES and allow to pick them up Premium users Taxis automatically track the Tourists Hardware suppliers street & communicate with Participate on large events Research Centres (Universities & other vehicles to prevent providing mobility for users (fairs, other research institutions) traffic jams expos, ...) Funding for development of App stores: Google Play, Apple App software product Store, Windows Phone Alliances with car manufacturers Marketplace to finance & supply vehicles Web Large R&D funding programs Call Center (e.g.: FP7) Advertising (TV, Airports, Train Stations, Radio...) COST CENTRES REVENUE STREAMS Monthly pay- Customers pay per use of Taxi +++Development (system integration & software) 10/50/100 defined trips tickets + Employees Permanent use on large cutsomers facilities + Software Hosting Advertising Campaigns: Multimedia advertisements & other relevant local information. inside the vehicles (weather, leisure activities, cultural activities, restaurants...), customized for each customer segment.
Marketing Channel & Campaigns• Channels – b2b portals, e.g. www.b2binternational.com or www.smeadvertising.co.uk – business networks, e.g. LinkedIn – Google Ads – Industry portals – Facebook advertisement• Marketing campaigns – 10% off for the 1st trip – 10% off for bringing a new customer
RiskThe most critical and the most risky assumptions of our businessmodel are:• Partnerships • The key partners we need to run the business • In order to guarantee close to 100% of reliability we need stable partnerships - that means a lot of negotiations. May require to start with a smaller scope.• Channels. The assumed channels to be used to reach our target customers • App stores • Web • Call centres • Advertising• Maybe the most crucial assumptions are: • the advertising campaigns • the web (app stores can be reached via web links).
Team Christoph Hartmann (Team Konstantin T. Savov Lead) • Expertise: technology evaluation, • Expertise: Software engineering, execution of R&D projects as well as in project execution, innovation management design thinking, entrepreneurship, • Studies: civil engineering and business executive MBA • Studies: software engineering Alfredo Matilla Xavi Papió Gustavo Adolfo Daniel Bartel Velasco Hernandez