Farm sense e245 march 2014 final

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Farm sense e245 march 2014 final

  1. FarmSense Mobile Farm Management for Specialty Crops Interviews this week: 10 Total Interviews: 110 Christine Su Preeyanka Shah Brad Allen Jennifer Tsau
  2. Final Video CLICK HERE FarmSense
  3. We’ve come a long way! (Emphasis on LONG) • We started off with some bad ideas… That’s DUMB • And some REALLY BAD ideas… “Deere John Acting Troupe” • And some that were pretty good, but small.. FarmSense
  4. But we knew that with a resilient, thoughtful team – we’d figure it out • Role: Cust Dev & Evangelist • Joint MBA-M.S. in Land Use and Agriculture • MS in Electrical Engineering (focus on machine learning and optimization) • Passionate about agriculture: worked on a family dairy to a $500m industrial grower, and three startups in the space Christine Su • Role: Cust Dev & Product Lead • Experience in web design, product design, and leadership development • Formerly an operations executive at KKR Preeyanka Shah • Prior roles with EnerNOC, a demand response company and Indicorps, a grassroots NGO in India • Role: Cust Dev & UX Architect • Role: Cust Dev & Long-Term Eye • MS in Civil Engineering (Atmosphere and Energy) • MBA • Experience in early stage start-ups and managing market release for products • Mechanical engineer with experience in computational/applied mechanics, and hardware design and prototyping Jennifer Tsau • 4 years in supply chain management with Northrop Grumman FarmSense Brad Allen • Formerly a chemical engineer, Bain consultant and Teach for America corps member
  5. Starting out, we knew we wanted to marry technology and agriculture – but that’s about it + FarmSense =
  6. So we got out of the building: FarmSense … and talked to a ton of folks
  7. And gained a greater appreciation for farmers and what they value Ron Yakota from TA Produce told us “The issue is there is no real good ag accounting software out there. We use JD Edwards and have to do a lot of our own customization. It’s not taken lightly when you want to change a field size or add a field. We have our own software engineers who do the modification. JD Edwards is old and has very little support. “ FarmSense The pickup truck is their office and they need mobile solutions for farm management -Sarai from Earthbound Farm: “The guys fill out the data on laptops in their pickups” - Dave from Blossom Hill Ranch wants activity recording from his pickup onto his phone -Doniga from Markegard Ranch does management from her pick up truck
  8. By Week 4, we felt confident in where we could work with farmers FarmSense
  9. Honing in on MVP idea and initial features MVP Features based on early adopter input (and validated by other customer interviews) DEMO FarmSense
  10. But we still needed to understand how to reach farmers and demonstrate value … so we got out of the building FarmSense
  11. And developed some hypotheses to reach our first customers Week 7 FarmSense
  12. Get, Keep and Grow FarmSense
  13. We have a differentiated perspective on GTM and development relationships in CA FarmSense
  14. What do we need to build our product? Week 8 FarmSense
  15. We have developed a plan to validate these hypotheses about the product & market FarmSense
  16. We believe that with the right focus, we can have a sense of this idea’s potential in 6 months BMC Area Metric Value Proposition Price: $100/month Competitor charge: $70-100 Customer Relationships Web CAC / CPC: $56 / $0.91 # new customers / PCA: 10 # new PCAs/month: 4 # new customers/month: 40 PCA + 10 web Operating Costs Fixed • $5,000-10,000 mobile + web app • 50k/yr each for 3 in-house developers Variable: • 5% PCA referral commission • $500 a month for web marketing Revenue ASP: $100 Lifetime Value: $2400 (2yr) Burn rate Burn rate / month: $2000 Months to run out: 12 FarmSense
  17. Thank you • • • • • • • • • • • The hundreds of people Bob Garrow who we talked to and have Jorge Heraud given us insight, support, Steve Blank feedback and advice! Maura O’Neill Jeff Epstein Jim Hornthal Soumya Mohan Stephanie Zhan EE 245 Classmates Robert Trice Venture Studio Residents and Staff FarmSense
  18. BACKUP FarmSense
  19. Week 1 FarmSense
  20. Week 2 FarmSense
  21. Week 3 FarmSense
  22. Week 4 FarmSense
  23. Week 5 FarmSense
  24. Week 6 FarmSense
  25. Week 7 FarmSense
  26. Week 8 FarmSense

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