- Refine your Business Model Canvas:
1.Include a Visual Canvas
2.Extremely specific notes for each block
*****LET IT BE KNOWN – We do not have A SPECIFIC PRODUCT in mind yet*****
Processing Copra to create value added products
Increase the income of smallholder filipino coconut farmers by providing them a faster, efficient, and value-added drying systems for their copra.
3.Explain how exactly you will deliver an end-to-end solution.
We design and manufacture a machine that we then sell to Filipino entrepreneurs, who will then maintain and provide services for farmers at a centralized location.
2.Ten practical lessons from the business (revenue) models of ventures we reviewed today (or others you research) as they relate to your venture.
- Envirofit found success by designing devices that are practically price, easy to use, environmentally friendly, and provide health benefits for its users. By doing this they’ve created a desirable product for low income individuals, which is something that we are looking to do.
- Envirofit has done an excellent job of getting their product out there. The way they use international distributors and local businesses to get their product to the people that need it is something that we can learn from and apply to our project.
- Reel Gardening found success by making their device incredibly easy to use. Our project, along with probably every venture, needs to consider how consumers will use our product and how we can make it easier.
- The way Reel Gardening paired their seed strips with an app to provide additional instruction is a great way to integrate simple technology into their design. Additionally, it shows that they’ve put a great deal of thought as to how to optimize user experience, which is something we will need to do when designing our product.
- Greyston Bakery’s business model is to crow about hiring people who’ve been marginalized from the workforce. They do not pay attention to what people have done in the past. They are interested in what they’re going to do in the future, and they invest money and support into helping them to be successful into helping them to be successful in the future.
- Greyston Bakery creates a business model such that it both made profits but also contributed positively to the community.
- The partnership with Ben & Jerry’s allowed Greyston to transition from a small local business to a supplier for a well-known company. However, Greystone adopts a Benefit Corporation model to allow it to keep implementing its social and environmental agenda.
- This venture was very unique because it was an educational system that allowed the students to be teachers and the teachers to be students. The indigenous knowledge of the Students was then cultivated by the teachers to improve crops on the land, design solar cookers, install solar panels and so on. This example emphasizes the importance of indigenous knowledge which will be very crucial to the success of our final product.
- This method although it was not sustainable as it relied on the grants for materials and construction it created a wealth of knowledge that could be shared and spread to benefit more areas that are similar. Creating a wealth of knowledge that is applicable to other communities is something we hope to replicate when we scale our final product to other communities.
- This venture also focused on empowering women as they can have a huge impact on the progression of a community. Instead of giving women a certificate such as a degree, they are given knowledge to solar electrify homes/entire villages. From the speaker it was mentioned that men generally want a degree and to move to a big city to apply their knowledge whereas the women stay behind. These women can be empowered with knowledge and make an impact on their own community which is a strategy we could use for the low income copra farmers in the Philippines.