Idea Pivoting

After several group meetings, we have decided to pivot to a different idea. In this case, we are going for a product.

After consideration, we are going for a gym phone case. We have identified a market need, as people fear to leave their phone on the floor while weight lifting.

We are currently considering exact features for our MVP. To develop our product, we want to apply lean startup method, as we want to improve the design and features with feedback from customers.

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Our initial idea for our MVP is based on a case with suction cups. It can be sticked into glasses and mirrors, so anyone steps onto it or any weight hits the phone.

We are currently contacting manufacturers to have a prototype soon, and be able to show it during the trade fair at Kingston.

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Dragons Den

Amazing experience presenting our idea. Apart from getting used to the format, we had the chance to discuss our startup with business people.

It was a great opportunity not only to get used to introduce the idea to investors, but also to get feedback about our idea before even investing money on it.

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After long consideration, we have decided to pivot our business into a market where we can offer a higher value added.

Idea validation

We have been validating the business idea with the general public. For that purpose, we have designed two surveys. One the one hand, one survey for users of our app. On the second hand, another one for the employees (or PAs) on the app.

The validation has been done in Kingston centre, Penrhyn road and Kingston Hill campuses.

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By doing this small market research, we discovered many interesting data about both market segments.

Value proposition

Going deeper on the value proposition from the previous blog, One Minute team used this value proposition canvas to study how to create a higher value on customers than competitors.

On the first hand, we have seen users of our services can initially face a common fear using our service. However, we want to validate if their needs and wants are more important than the initial fear. If so, users will give an initial try to us.

The initial perception is essential, as “there is no chance for a second first impression”. As the service features will still be in a MVP trial, we have agreed that the experience for these first users will be essential to engage them with the use of our App (we finally say it, it´s an app!).

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After studying deeper how to deliver value to customers, we have been remodeling the lean canvas chart. However, that is the point of lean, trial and error!

Business modeling

We have applied the lean canvas to study our business proposition.

By using this chart, we have encountered two main factors:

On the one hand, who is our main customer segment and how the service can create value to them.

On the other hand, the existing of competitors and alternatives. In previous researches done, we did not find that many competitors. However, our “unfair advantage” creates a higher value to our customers than current competitors.

With the structuring of this model for our business we have been able to enumerate our costs and revenues streams. This will be extremely helpful in the future to forecast our financials.

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I attach a picture with some basic information. Some is still missing (many of it on purpose!).

One Minute Startup Takes Off!

We have had really interesting meetings for brainstorming and idea generation. Through these meetings we have got to know each other better and developed the first working synergies as a team.

As it can be seen in the picture below,  we have been doing an interesting research and brainstorm for the company name.

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Also, we have been enjoying different class working together in class and putting into practice the design thinking process.

During these activities we have found the importance of communication in order to obtain great results, and the importance to value every idea and add value to those of the others.

 

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And finally but not least, we have been brainstorming for the business idea! And exiting process that makes you connect with your partners and reach an harmony through the process.

This is an amazing experience to get to know your partners, and to learn more business opportunities they can think about. It supposes a great opportunity for us; as we all have a business expertise and we are not focused on an industry, listening is the best way to learn about a specific industry.IMG_1744

We have also been applying design thinking for some of the ideas. However, there is still no information nor pictures to be posted. Top secret! 😉

Design thinking theories

We had an interesting lecture on October the 7th about what is design thinking and how to apply it.

According to professor Kees Dorst, many companies do not integrate design thinking properly and deeply into their processes, which made me think it can be a competitive advantage in the future learning about it.

We also learnt about deduction and induction, which is a simple theoretical tool used in many science fields. Through these two, we can easily represent the problems we want to solve and the information we have, to focus on the answers you want to get.

After theory, we applied these concepts into practice. We asked people about their main problems with shoes, and what they find more important for buying ones. We found a pattern in respondents; women are the one who have more difficulties. The core one is related to heels, and how uncomfortable can it be to wear them, or to carry an extra pair of shoes everyday. Therefore, we thought we could develop a plain shoe, whose sole could have different attachable parts sticked through magnets depending on the moment of the day. As one image is better than 1000 words, I will attach the pictures of our drafts to be understood.

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