Below you’ll find an overview of your current value proposition, seen from the eyes of the customer. The customers are ranking your value proposition on 6 different product specifications. These product specifications are a direct results of your VP-decisions. Moreover, you’ll find your current product-market fit.
Below you’ll find information about your customer segment. The higher your research score, the more you’ll uncover about the customer segment.
Customer Jobs:John wants a product that help him builds more muscles, that makes him feels independent and bring him to the next level.
Pains: John doesn’t like when people think the watch is cheap or the watch isn’t best watch in the market.
Gains: The life of John would be much better because everyone will see he can afford a watch. When the company will bring a new watch on the market John will buy it as firstone.
6. Engaging Technology
7. Engaging Functionality
9. Personalized Service
In the last stage of setting up our company and acquiring funding we chose to remove some focus on marketing, since our main focus was marketing our product in the previous round. This round we will attract funding by the following: seed grants, personal funds and venture capital. In conclusion our strategy did not change much, apart from removing 3D modeling because the testing with modeling is done. Therefore, it is not needed anymore. We attract a couple sources of finance to spread the risk over the investors. if we work with one investors, then this investor has too much power over the decision making. So we want multiple shareholders to divide the risk of making one shareholder too powerful. Another positive side to having more investors is being able to gain more knowledge from the different investors.
Customer Jobs: We’ve called our persona Alicia. She’s not fully convinced in Gene-technology based wearable. She’s not looking for the cheap/easy solution. Alicia is trying to always be one step ahead and showing others how to do things the right way.
Alicia loves to share with like minded people about the right way to go and she also loves to hear and see how the people try to have a positive influence.
Gains: The gains Alicia gets out of this its that it brings people together and helps improve the future of people’s life.
Pains: Alicia doesn’t like unfair business because it puts other people down.
1. Environmental Sensitivity
2. User Communities
5. Personalized Service
7. Simplify Experiences
9. Ease of Use
10. Try before you Buy
Did you make any changes to your strategy in this round? If yes, why? No the last round we didn’t make any changes to our strategy, because at the moment we are growing quite well and our strategy is paying off at the moment. The only small change we have made is to focus a bit on mission, vision and ideology to improve our credibility and trust in the company. Did you try to attract one or more sources of finance? Why (not)? Yes we attracted 2 kinds of finance. The first finance we attracted is crowdfunding. We made it possible for people to invest in the company with a interest of 8%. There is a whole website with all the information about the company for the investor. At the website they can also see the risks of the investment. we hope to acquire €25.000 with this crowdfunding. With this money we want to develop our product more and make enough products for the demand. The second finance we attracted is an Angel Investment. We will do a Pitch with a company movie to convince the investors about our product. We to give them a 12% stake in our company for a return of €250.000. With this money we want to set up a big marketing campaign and start the develop of a second product. Please evaluate the game experience for yourself and compare it with the learning objectives you had: what did you learn about entrepreneurship and in what way did the game help you in the learning process? Throughout we learned that making a company is not only about creating a product, but you also have to think about doing research to the target group to define your customer. Next to that it’s also important that you think about the way to finance the company in the beginning stage. throughout the we learned more about the business model canvas and it will help us to start up our own company in the coming months.
Customer Jobs: We’ve called our persona Jim. Jim may be interested in a wearable that is based on gene-technology. Jim has been an experimental personal all his life. For example. Jim was the first person to buy a drone in his neighborhood, but sadly crashed it after a week. When his neighbors asked, he said he did not like the look of it anyway and therefore it did not matter to him.
Pains: His neighbors were a bit astounded by Jim’s lack of care in regards to the drone but as Jim always says: ”It’s not about reaching the top of the mountain but the way towards it.”. After one these fun days of experimenting, Jim likes to relax in his Fritz Hansen chair, smoke an eco-friendly cigar and listen to the newest hits of Ariana Grande, which just came out that day.
Gains: Jim made a lot of friends while being as reckless as he his. Not that Jim cares, because Jim knows that he will have friends in the end. The people that do not like Jim is the bank. Jim has debts that are only increasing instead of decreasing and the bank is considering to freeze Jim’s assets. Jim made a fortune in the dotcom bubble but is also burning money as if it grows on trees.
1. Engaging technology
2. Engaging functionality
5. Personalized service
9. Automate experiences
We made some changes in our strategy by deviding the points. As group we learned a lot with this game experience. We can apply the studied theory directly.
Customer Jobs:We have called our persona Paul. Paul is a very adventurous type when it comes to his lifestyle. He is highly interested in a wearable that is based on gene technology. Paul isn’t afraid to try new things. He’s always looking for the latest trends and products when it comes to technology and innovation.
He doesn’t care about the product as much as the experience that the products give. Paul pursues the products that spark his interests most. After creating his own experience he will be able to influence others in their decision making.
Pains: Paul likes to live new experiences. He also likes to learn new stuff. He wants an wearable that can facilitate him with new things. He is willing to learn about the intricacies about an new wearable. He would be happy if he could go outside for have a walk.
Gains: Paul is currently a very experienced buyer. He loves new features and is very interested in new things. But Paul is afraid that the new things he buys have few to zero new features. The new things needs to give him a new adventure. Paul is afraid that the new things he buys don’t give him the new adventure as before, when he was young.
1. not uncovered yet
3. Engaging technology
5. Environmental Sensitivity
1. Instead of focussing on the product, we have chosen to focus more on the customer and innovation. 2. We decided to bring in some personal money but also for an angel investment. An angel can help grow the company because he or she has experience in business. 3. First of all we have learned that there are a lot of options within the canvas, far more than expected. Also it was nice to learn how to combine all aspects within the canvas.
We’ve called our persona Pablo. Pablo is a very motivated and humble student. Pablo is interested in building relationships when buying a product, it is difficult for him to find a product to trust in. He’s doesn’t necessarily want something thats very luxury and expensive but just wants something that is easy to use. He likes to say where it stands on and when he’s not happy about something he’ll tell you. He is a guy who can buy something that’s really expensive but it doesn’t need to be maxed out with all kind of extra options, but only the necessary options.
Gains: Pablo’s life would be much easier if there is an product that fits his needs. Something easy to use and a brand in which he can trust. He doesn’t want anything that is really complex.
Pains: he cannot find any suitable products for demands? they are always too expensive or they do too many unnecassary things which he does not like.
1. not uncovered yet
2. Loyalty programs
5. User communities
9. Simplify experience
No strategy submitted.
Throughout the game, you’ll have the chance to increase your expertise on your key resources, activities and partners. The better your performance, the more likely you’ll be to achieve finance in the last round.
Below you’ll find an overview of your sales funnel and capital injections – a direct results of your investments in marketing & sales.
Below, you’ll find some extra awards that are handed out throughout the game and your overall EntrePulse.