business model pivot on example bike storage to self-storage boxes

BikeepCity bike storage

Problem

More convenient way of storage is needed

Value Proposition

Personal locker for bike storage

Customer SegmentCity and suburb residents, sportsmen

Local information (Lviv)

Our investigation

TAM 127 000SAM 78 100SOM 60 000

VALUE PROPOSI

TION

CUSTOMER SEGMENT /

/GAIN / PAIN

PRODUCT FIT

MVP

VALUE PROPOSITION

CHECK POINT INDICATOR PRICE

LOCATION

Business centers

UAH 500 per month

Residential complexes

No limits. Cooperation with Management Companies

City (Lviv) Ready to cooperate. Depends on needs of customers.

DELIVERY Individuals UAH 100 – 150 per order

PRODUCTION

Foreign companies

USD 3 000 for double locker

Ukrainian producers

Pending

Hypothesis investigated in Customer segment

Interviewed – 54E-mails received – 11People who have a problem with storage – 55%

DAY 3PIVOTS WORK!!! PLEASE MEET OUTSTORE

31 responses11 emails received

Customer ProfileMen and women (50% and 50%) - FamilyAge - 25-45

What do you want to keep there?Bicycle - 54 %Ski equipment - 22%Household goods - 50%Other - 29%

DAY 4

DO WHAT YOU HAVE NOT DONE YET!

OutStore Team

Responses received- 110E-mails received- 45

What do you want to keep there?Bicycle- 75%

Ski equipment -29%Household stuff- 48%

Other -18%

Customer relationship

Get Keep GrowOutdoor AdsSMM

Commercial offers for building companies

Loyalty Program

Partnership Rewards and discount

Related Services (cleaning, delivering)

Covering new markets

DAY 1 – DAY 4LESSONS WE’VE LEARNED

• Know customer problem. Know product features. You must be that person as your customer!

• Understand the problem – the solution will come next!

• Test your understanding! Check hypothesis!

• Oh my God, I thought I knew all abbreviations, but not – TAM, SAM, SOM, MVP, MKT, CAC, LTV, OEM, and you know, you are absolutely zero in understanding the meaning of IDLE, FAIL, END, NO

• Validate the problem, validate the solution!

• MVP is understanding of customer’s needs, pains and gains…

• Check hypothesis!

• Ask is there a problem? Why?

• Everything you do – measure! Metrics may save your start-up!

• Do not limit your challenge, challenge your limits!