13 0709 webinar q & a business model canvas and launch pad central


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13 0709 webinar q & a business model canvas and launch pad central

  1. 1. 1 Cleantech Open Confidential Information – All Rights Reserved Webinar Q & A Session – Business Canvas- Worksheet 1 Tuesday, July 9, 2013
  2. 2. 2 Cleantech Open Confidential Information – All Rights Reserved Q & A Session 1- Business Model Canvas • Q1. What if the market is undervalued, like water (people say it's valued, but it's often not)? – Water as a category is important but not as valued or be able to monetized as a general category. Secondly, sub-segment could be monetized if one takes the drinkable water market. Thirdly - the real question that one should be asking is what segment / sub-segment of water market (Front Stage) do water customers value, ( Back Stage) operationally feasible and Performance Stage (economically viable) to create value. This leads to what really matters i.e. creation of value for all stakeholders. – By identifying the pain points in each stages one can should think on how to create, capture and sustain a viable business model from Water segment. • Q2. What do we do if our provided production supply will be far outstripped by market demand? Meaning what if we cannot make enough of our product when we open our doors? – A. In case of enough capacity – you cannot do everything yourself – you should look at the value point until you can do it yourself. If there is not enough people with intellectual capacity, a right expertise is needed. • Q3. But if you have low capacity, doesn't that provide an opportunity for competitors to take market share? – A. It depends. If the design is standard, the business model is important. In past years – customers were not willing to pay but it is different today. If the product is very competitive and you don’t have any intellectual property, work on relationships with other manufacturers – sharing your design.
  3. 3. 3 Cleantech Open Confidential Information – All Rights Reserved Q & A Session 1- Business Model Canvas • Q4. If the project is Capital Intensive, and your product has high market demand, how would you approach with the Business plan, especially when you are young inexperienced entrepreneur? – A. If you have a high demand product, make sure that you can generate profit, cash flow and return. If you got high demand and many orders, bank will give you money easily. • Q5. Is there a way to make a value proposition from slowing climate change? Ie, slowing ice loss, sea level rise and global temperature rise? Or does one need to come up with some secondary more localized/more specific customer focus for a viable value proposition? – A. Business is about people and profit. Climate change is too broad for value proposition. You got to break that to smaller pieces. Identify specific value prop, identify your specific customer segment. You have to define what is the product, service, or their combination and what is the price, what is the segment. What will generate the profit? Specify. • Q5. Are key resources what we need right now (seed stage), or projected during revenue generation phase? – A. In your business model you start off as now, but you look forward. Think of future. Business model must be scalable.
  4. 4. 4 Cleantech Open Confidential Information – All Rights Reserved Q & A Session 2 Launch Pad Central • Q1. Has the confidentiality worry in LaunchPad Central been resolved? Should we be using this as our primary place to document our info? – A. If you have a direct competitor in the region, we can move you into a different region in LPC. That means that you will only be moved within the LaunchPad Central, not for the actual competition region and thus make a shield. • Q2. Am I correct that the Launch Pad component is not for those of us from the East Coast? – A. It is not used in Northeast region this year. • Q3. We've been using the Comment section, rather than the entering Customer Interviews. When should each be used? When we contact investors should they be added as a customer interview or a comment? – A. Interviews with investors should be added as Interviews. Comments are for more general and more personal feedbacks. • Q4. Is the Sandbox different from canvas? – A. Sandbox is just a name for the company used as an illustrative example.
  5. 5. 5 Cleantech Open Confidential Information – All Rights Reserved Q & A Session 2 LaunchPad Central • Q5. How many interviews do you need to invalidate a hypothesis if, for example, 1-2 interviews reveals something that seems to kill the hypothesis? – A. Depends what the hypothesis is. If you are selling your product through one client, it might be just enough. If you are selling it to people directly, then you might need hundred interviews to get a trend. It really depends on the hypothesis. • Q6. What do you recommend if it is very difficult to reach the target customers for interviews? We sell large turbine systems to dam owners. – A. Use Cleantech Open network, your mentors and find people who can help you with an introduction. • Q7. I am having difficulties with my LaunchPad Central login – A. Use the link in your dashboard in the system (Cleantech Open page where you enter your information for the accelerator program. • Q8. How many users can I have for LaunchPad Central login? – A: CTO will give you single login to LPC (that is 1 team member) • Q9. How do I find mentors for very specific purpose? – A. It is your general mentor’s duty to help you find the right people. You can also contact you regional mentor’s chair to help you. • Q10. How to you approach customers when you don’t have a prototype? – A. Use and test your selling and entrepreneurial skills. Also it is extremely important to start these conversations early, so you will learn more about your customer’s needs before building the prototype.