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The Elevator Pitch
The Tempbox Elevator Pitch!
“Tempbox helps people on the move, such as, workers and students solve their lunch-time problems by providing them with the freedom of choice to eat whatever they want, wherever they want.
Tempbox provides a convenient, economical and, if you like, healthy alternative to dining out at fast food outlets or restaurants. It is also better than the traditional lunchbox because with the Tempbox your food will stay fresh until it is time to ‘be temped’, enabling you to eat any meal; hot or cold, simply by plugging the Tempbox into any plug, USB socket or car cigarette lighter to heat your meal of choice. And once you have finished with your Tempbox for the day, its flexible design allows you to neatly pack it away into even the fullest of handbags and backpacks.”
Session 3 – Lessons learned
Session 3
In the beginning of last weeks class we had a short elevator pitch about our idea. After that, each of the 3 teams in our class presented their first version – Business Model 1.0. Our professors feedback was good and it seems like it was ok for the first time. However, we think it is going to change a lot!
From what we have learned in class and from what we have read in the book we know very well now, that it is crucial to move away from the traditional approach of a Business Plan. The Business Model Canvas brings several advantages: It is more visual and more dynamic. It is all there at one sight and the sticky notes we attached to it can easily be changed or moved around. The Business Model Canvas is focusing on activities – not results. It is full of hypotheses which are our assumptions/guesses and during the next sessions we will determine whether they are true or not. We read an article and there was a statement we want to mention at this point: “You can’t think your way into a new way of acting, but you can act your way into a new way of thinking.” This is somehow true but somehow I believe it can work both ways.
During class we learned that the Customer Development is made up of 4 stages. During the first stage it is important to listen. It is not about what you think – it is about what the customer thinks. At the second stage the hypotheses are validated. If they turn out to be wrong it is not complicated to change the model, while taking in consideration what you have learned from the customer. Only after all the important hypothesis are proven true and once there is certainty that there is a market for a product, a Start-up should move on to the Customer creation phase, which is about 3 things: Marketing, Selling and SELLING!
We learned about different tools we can use for testing our hypothesis. This was very interesting because we haven’t heard of some of them and part of it was a very new approach to me. Among other things we learned about AdWords, Crowd funding, Landing pages and Prototyping.
At the moment we are continuing to read Steve Blank’s book and we really enjoy reading it. Now we are about to “get out of the building” and start with our validation process and to develop an understanding of potential costumers and the importance of the problem we want to solve. Our professor and the book have provided us with some tools that will help us to do that.
I am looking forward to our group meeting on Tuesday where all of this will be discussed in more detail and we will move forward and get things done. Stay tuned 
Our idea decision making process
In session 1 we were provided with means of inspiration to be able to come up with ideas for a startup and a tool for evaluating different ideas. After class all team members did some thinking and we were able to come up with a variety of ideas:
- Motorbike Taxi Service
- All training app
- Self-charging solar panel headphones
- Container recycling to build affordable and environmental houses
- App for freelancing services (sell and buy)
- App for world’s smoothest traveling connections
- The heat -able lunch box
We decided to evaluate them by first asking: Does this idea solve a customer problem? Will people see the use of this product/service? Will they buy it?
After getting an overview over the members’ thoughts and comments on these questions, we ran the ideas through these criteria:
We gave the ideas points and concluded on “The heat-able lunch box”. It got a score of 19. The scores were high on Doable, Bootstrapping, scaleability, potentially global, usage of internet as channel. The scores were lower on disruption, innovation and if it would go viral.
In retrospect we are really pleased with our idea. We believe it to meet a need which has been unsolved up untill now.
Stay tuned for the development of this amazing product by this even more amazing team!
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