1. BULLA WHERE WE STARTED
Our initial idea was to develop a small men’s handbag targeted at the
professional male between 25-35, above average income looking for a
trendy bag to carry his must have belongings.
The men’s handbag market is estimated at $1B/ year.
The Idea! Team Bulla, David Zilberman, Aaron Kelley, John Robinson
2. BULLA WHERE WE ENDED UP
After Customer Development Process:
• It’s a company and not just a product BUT you need to start with a
HOT product
• Men do want a way to carry their iPad and other personal items BUT
professionals today still need to carry their laptops
• SO based on customer input… we shifted our initial product to a
MODULAR messenger bag that includes a REMOVABLE folio case.
• New product is UNIQUE, INOVATIVE and addresses a BROADER USE-
CASE
The Idea! Team Bulla, David Zilberman, Aaron Kelley, John Robinson
3. BULLA
The Team:
Team member Background Expertise role
name
Web marketing & Customer engagement
David Zilberman The founder and CEO of iRazzle
ecommerce and Product Design
Ph.D.; business development
Analytics, business Marketing and web
Aaron Kelley management; experience with
development design
complex chemicals and materials.
Merchandising, product
Product development
John Robinson development&supply chain Sourcing
and sourcing
management experience
Team Bulla Team Bulla, David Zilberman, Aaron Kelley, John Robinson
5. BULLA
What we did:
• Conduct a dozen interviews with potential
customers in our demographic segment
• Interview retailers -20 men’s fashion and/or
accessory stores
• Visited competitor bag manufacturers
Timbuktu & Rickshaw
• Pivoted from men’s handbag to satchel to a
bag for the iPad
BMC V1, So here’s what we did Team Bulla, David Zilberman, Aaron Kelley, John Robinson
6. BULLA
Lessons Learn:
• Resegmenting an existing market with a niche product(s)
driven by branding and marketing
– Defined the addressable target = 190K Bags/$47.5M
• Sales clerks at the retail stores we visited indicated that
there is consumer demand for “men’s iPad bags”.
• Men who we’ve interviewed expressed an interest in
customization and willingness to pay a premium
• Price points range from about $100 for canvas to around
$300 to $400 for leather smaller bags and can range as
far as $500 to $600 for mid-size leather messenger bags.
BMC V1, So here’s what found Team Bulla, David Zilberman, Aaron Kelley, John Robinson
8. BULLA
What we did:
• Recruited a designer to join Team
Bulla!
• Launched low-fidelity website to
test funnel through simulation
• Launched web surveys
• Got out and engaged potential
customers to learn about their willingness to purchase online
or retail
• Examined customization strategies by meetings with
industry experts including head of fashion department @
CCA, visiting bay area bag retailers/manufacturer and
operations and product development professor @ Haas
BMC V2, So here’s what we did Team Bulla, David Zilberman, Aaron Kelley, John Robinson
9. BULLA
Lessons Learn:
Survey response:
• 48% willing to purchase online
• 15% Likely, Very Likely to Purchase within next 3 months
• 42% would consider possibly purchasing within next 3 months
Customization:
• Keep it simple; control the variable configurations by offering pre-set
options
• Customers are willing to wait for customization although if the wait-
time is too early it may not be perceived as unique whereas, too
late may risk a loss of interest
• Consider a short supply chain by sourcing with a local manufacturer
BMC V2, So here’s what found Team Bulla, David Zilberman, Aaron Kelley, John Robinson
11. BULLA
What we did (1 of 2):
• First round of designs
Messenger bag
The first round of designs were created based on our design
concept Folio
• Second round of designs
The second round of designs were created based on
feedback from potential customers that was received from
the first round of designs
Folio &
After several calls with the designer and a ½ day of hands Messenger bag
on design iterations incorporating feedback from potential
customers
We developed what we believe represents the customers
needs/wants in a novel design with a folio type bag that
will hold an iPad and several other items (phone, business
cards, glasses, etc.). The folio can then fit into a second bag
which expands its carrying capacity to include a full sized
laptop and power cables.
BMC V3, So here’s what we did Team Bulla, David Zilberman, Aaron Kelley, John Robinson
12. BULLA
What we did (2 of 2):
• Mapped ecommerce revenue model
• Sent our project out to bid to 7 manufacturers for bidding.
– Country of Origin: China, Hong Kong, United States
– BOM ranged in price from
• Folio Range $5 to $27, average $9.40
• Messenger bag Range 7.80 to 41, average $18.81
• Combined ranged from $12.8 to $68, average $40.4
• Web page - www.bullaboys.com.
– Designed to understand customer acquisition costs by
actual bag purchases.
– Linked product images, which are similar to our
design styles, to Amazon bags
– Collect costing data to drive traffic to Bullaboys via
Adwords, Facebook, LinkedIn, Google this combined
with the actual conversion to purchases should give us
a good estimate of acquisition costs.
BMC V3, So here’s what we did Team Bulla, David Zilberman, Aaron Kelley, John Robinson
13. BULLA
Lessons Learn:
• Product designed with the customers inspiration can lead to imaginative solutions
• It is necessary to work more closely with the designer through the prototype building to ensure
you are happy with the end product.
• For a start up – manufactures are motivated by charity or giving the little guy a discount.
However, there are some who can offer insights and advice for navigating the mine fields
• Driving traffic to Bulla Boys
250
– Top search terms: iPad Case, iPad Bag, 211
Top Search Terms (CTR)
Tablet(0.02%) Man bags(1.6%) iPad
Gifts for men, and Laptop bags 200 case iPad bag
Gifts for men Laptop bags
– Cost per acquisition 150 $1.62 avg. Cost Per Click
• Adwords: $1.62/CPC, .02%/CTR & 1.6%/CTR
100
• Facebook: $.73/CPC, .034%/CTR,
50
• LinkedIn: $2.00/CPC, .011%/CTR 27 23 19 18
6 5 3
0
&
Concept Evolution
BMC V3, So here’s what found Team Bulla, David Zilberman, Aaron Kelley, John Robinson
14. BULLA
“So here’s where we ended up:”
1. What did you learn
a) Customer feedback is essential...by engaging the customer early and often will you
learn something.
b) Get out engage the customer with prototypes
c) The right survey will delivery valuable data. The wrong one can lead you hanging.
d) The first design isn’t the design that is going to market
e) Your key supplier may not see you as a key customer (p.s. don’t tell them you’re a
start up)
2. Yes, we believe there is a viable business here, but the work has only begun
Selling a fashion product is as much about building a brand through marketing as it is
about a inspiring designs
3. Do we want to purse this after the class?
We’ll keep our day jobs but the lessons learn from this class and project will benefit
each of us in our future endeavors
“So here’s where we ended up.” Team Bulla, David Zilberman, Aaron Kelley, John Robinson
15. BULLA
A big thank you to our teaching team, designer,
advisers, naysayers, and most of all our potential
customers.
Special thank you to:
Mike Corselli, Designer
Saad Khan, Advisor
Michael Martin, Advisor
Mark Richards, Advisor
A special shout out Team Bulla, David Zilberman, Aaron Kelley, John Robinson
Deliverable: Each team will present a 10 minute “Lessons Learned” presentation about their business. Slide 1 – Team Name, with a few lines of what your initial idea was and the size of the opportunity Slide 2 – Team members – name, background, expertise and your role for the team Slide 3 - Business Model Canvas Version 1 (use the Osterwalder Canvas do not make up your own).Here was our original idea. Slide 4 - So here’s what we did (explain how you got out of the building) Slide 5 – So here’s what we found (what was reality) so then, … Slide 6 - Business Model Canvas Version 2 (use the Osterwalder Canvas do not make up your own).We iterated or pivoted… explain why and what you found. Slide 7 - So here’s what we did (explain how you got out of the building) Slide 8 – So here’s what we found (what was reality) so then, Slide 9 - Business Model Canvas Version 3 (use the Osterwalder Canvas do not make up your own).We iterated or pivoted… explain why and what you found. Etc. ,,, Every presentation requires at least three Business Model Canvas slides. Side n – “So here’s where we ended up.” Talk about:1. what did you learn2. whether you think this a viable business,3. whether you want to purse it after the class, etc. Final Slides – Click through each one of your business model canvas slides.
Deliverable: Each team will present a 10 minute “Lessons Learned” presentation about their business. Slide 1 – Team Name, with a few lines of what your initial idea was and the size of the opportunity Slide 2 – Team members – name, background, expertise and your role for the team Slide 3 - Business Model Canvas Version 1 (use the Osterwalder Canvas do not make up your own).Here was our original idea. Slide 4 - So here’s what we did (explain how you got out of the building) Slide 5 – So here’s what we found (what was reality) so then, … Slide 6 - Business Model Canvas Version 2 (use the Osterwalder Canvas do not make up your own).We iterated or pivoted… explain why and what you found. Slide 7 - So here’s what we did (explain how you got out of the building) Slide 8 – So here’s what we found (what was reality) so then, Slide 9 - Business Model Canvas Version 3 (use the Osterwalder Canvas do not make up your own).We iterated or pivoted… explain why and what you found. Etc. ,,, Every presentation requires at least three Business Model Canvas slides. Side n – “So here’s where we ended up.” Talk about:1. what did you learn2. whether you think this a viable business,3. whether you want to purse it after the class, etc. Final Slides – Click through each one of your business model canvas slides.
Deliverable: Each team will present a 10 minute “Lessons Learned” presentation about their business. Slide 1 – Team Name, with a few lines of what your initial idea was and the size of the opportunity Slide 2 – Team members – name, background, expertise and your role for the team Slide 3 - Business Model Canvas Version 1 (use the Osterwalder Canvas do not make up your own).Here was our original idea. Slide 4 - So here’s what we did (explain how you got out of the building) Slide 5 – So here’s what we found (what was reality) so then, … Slide 6 - Business Model Canvas Version 2 (use the Osterwalder Canvas do not make up your own).We iterated or pivoted… explain why and what you found. Slide 7 - So here’s what we did (explain how you got out of the building) Slide 8 – So here’s what we found (what was reality) so then, Slide 9 - Business Model Canvas Version 3 (use the Osterwalder Canvas do not make up your own).We iterated or pivoted… explain why and what you found. Etc. ,,, Every presentation requires at least three Business Model Canvas slides. Side n – “So here’s where we ended up.” Talk about:1. what did you learn2. whether you think this a viable business,3. whether you want to purse it after the class, etc. Final Slides – Click through each one of your business model canvas slides.
13, 12, 8,Messenger spelling error
Deliverable: Each team will present a 10 minute “Lessons Learned” presentation about their business. Slide 1 – Team Name, with a few lines of what your initial idea was and the size of the opportunity Slide 2 – Team members – name, background, expertise and your role for the team Slide 3 - Business Model Canvas Version 1 (use the Osterwalder Canvas do not make up your own).Here was our original idea. Slide 4 - So here’s what we did (explain how you got out of the building) Slide 5 – So here’s what we found (what was reality) so then, … Slide 6 - Business Model Canvas Version 2 (use the Osterwalder Canvas do not make up your own).We iterated or pivoted… explain why and what you found. Slide 7 - So here’s what we did (explain how you got out of the building) Slide 8 – So here’s what we found (what was reality) so then, Slide 9 - Business Model Canvas Version 3 (use the Osterwalder Canvas do not make up your own).We iterated or pivoted… explain why and what you found. Etc. ,,, Every presentation requires at least three Business Model Canvas slides. Side n – “So here’s where we ended up.” Talk about:1. what did you learn2. whether you think this a viable business,3. whether you want to purse it after the class, etc. Final Slides – Click through each one of your business model canvas slides.
