- List five compelling take-aways from the Art of the Start.
- Learning to create our own “MAT” – Milestones, Assumptions, and Tasks. This format has allowed us to better understand our goals within the project and as a team. MAT has done this by helping us better divide the tasks needed to get done and making sure the tasks that we accomplish are better geared towards our overall milestones, helping us work more effectively on the project as a team.
- The overall topic of “making meaning” was really compelling for us because it relates directly to our project work within the GSIF and how our product has the ultimate goal of increasing the quality of life for coconut farmers in the Philippines. By having the overall goal of increasing their income through a better coconut drying method and system, we found it compelling that our venture’s main focus was to ultimately “make meaning”.
- The overall concept and idea that the 10/20/30 (10 slides, 20 minutes, 30 pt. font) rule articulates helped us with crafting our upcoming presentation. Although we have to present over five minutes, and not ten, the overall ideas of keeping the slides concise, with specifics on problem, solution, business model, etc.., and the underlying message of keeping a presentation short and to the point helped us navigate how we wanted to approach presenting. The “30” part also helped to remind us that words should be limited, and instead helpful visuals should be implemented.
- Being niche was also a point that Guy Kawasaki emphasized, which we thought was a very important and significant point. The graph that showed us the “ability to provide a unique product or service” and the “value to the customer” was really helpful in terms of helping us rethink our engineering solution and overall business model. In order to separate ourselves from others, we have concluded that having a better, more efficient and effective drying solution and a coop business model will most definitely give us both the ability to provide a unique product or service and a value to the customer.
- Adding on to the former point being made, Kawasaki’s slide on defining a business model really helped us understand what is needed to create a more self-sustaining system that would be of benefit for all of our stakeholders. This was especially compelling because this allowed for us to better our idea of the coop business model by being more specific in the systems that would be put in place but also helping us to portray the model simply so others could better understand it.
- Articulate your value propositions for your diverse customer segments.
In short, we help copra farmers in the Philippines increase their income by creating a faster, efficient, and more effective drying system.
We solve the problem of consistency in copra quality for farmers in the Philippines by creating a system in which farmers can come to a central location to have their copra dried using a faster and more effective drying technique that yields better copra quality. We deliver value in our model’s convenience for farmers, as they do not have to learn to operate the machinery or buy the device themselves, allowing them to dry their coconuts using the machine without experiencing the burden of the high cost of the dryer, and thus reducing risk for the farmers. By placing the plant at a central location between farms, there is high accessibility to the machine as well as reduced risk regarding farmer income due to the method’s all-weather usability. The system is also founded upon a self – sustaining business model, which incorporates a centralized machine, increasing the potential to scale. Farmers will experience less added cost, cheaper prices, and increased revenue resulting in an improved livelihood. On the buyer’s end, the copra quality will be drastically better and more consistent, allowing them to create higher quality products. In addition, buyer’s will have a centralized location for obtaining copra, resulting in less time wasted, less costs, and therefore better efficiency.
- Discuss your Total Available Market and Total Addressable Market. List all your assumptions and hypothesis
Our total available market is the total population of copra farmers in the Philippines, about 3.5 million. By assuming the bottom-up approach, our total addressable market is 80 percent of coconut farmers within the area of the Philippines.