- Re-draft/refine your business models further – on each block of the BMC, have a visual and 1-3 bullet points. Remember, these are only “final” for now – you will continually refine your business models!
Business Model
Value Proposition:
Living Spaces will create green, biophilic spaces within institutions to decrease stress and improve connection, mindfulness, and wellbeing in students and employees.
We help Innovative institutions distinguish themselves from similar institutions by incorporating sustainable living tenets (such as health, satisfaction, & built communities) by incorporating green infrastructure into building design.
The Customer:
Innovative institutions who want to incorporate sustainable living tenets such as increasing health & satisfaction in students/employees and incorporating green infrastructure into building design. Our users are students/employees, but they are not direct consumers.
Channels:
While this will become more clear as we prototype, the goal is to have a channel that mimics the simplicity of IKEA such that this scalable product could be produced, shipped, and assembled in an extremely easy, straightforward, and accessible manner.
Online selling of the product with shipping would allow our design to be bought from virtually anywhere.
If we decide to pursue a business to business revenue stream, then our channels would be the businesses that we partner with to sell our products.
Customer Relationships:
Get: Pitching our design to institutions; webpage of the product and the team; advertising
Keep: Make the product easy to consume by having all parts of the interaction with living spaces (from buying, to shipping, to assembling, to maintaining) intuitive & streamline; compassionate interactions with customers; continue to buy nutrients from our business
Grow: Check in with previous customers; have additions to a base product (think expansion packs); create a community among users (?) (app?–for people who work in space)
Revenue Streams:
Direct Sale where customers buy the product and/or materials to continue maintaining the space (nutrient pellets, etc.). While at this point in the project we are mainly discussing direct sales, we are also considering a business to business revenue stream.
Key Resources:
Finances, a space, time, and an interdisciplinary team to prototype. A system to manufacture, transport, customer service team, and advertise the made design.
Partners:
Other companies who design products that will be useful in our design (ex: SolTech). Other CSIF programs/Mountaintop initiatives (PlasTech). Seedling or plant suppliers. Furniture stores, office decor suppliers, interior designers, and architects.
Activities:
Efficient production, advertisement, customer service, & distribution of product.
Costs:
Production, streamlined shipment, advertisements, website, maintenance, paying stakeholders whose products we’ve incorporated into design.
2. Further refine your Value Propositions – determine what your VP is, and craft it so that it is stated in a succinct, clear, compelling manner. Have it ready to present to next week’s panelists in a 60-90 second (max) format.
We help innovative institutions host attractive and effective workspaces by incorporating our sustainable living principles—such as health, satisfaction, and community—into living infrastructure installations. Within Lehigh, we are bolstering admissions appeal to future students, as well as helping current students decrease stress and improve mindfulness through the integration of our biophilic designs that increase exposure to nature.