BMC/Comparative Review & Team Week

Here are our presentation slides in the Creative Founder class, which involved our BMC & Comparative Review :)

By VR3: Rachel Poonsiriwong, Richard Cho, Rita Lei, Vicky Yang

(24 October 2019)

BMC & Comparative Review

What was it like to put together a business model canvas?

If someone asks me how to analyze the business system for the product? I’d definitely recommend the Business Model Canvas.

Well, BMC is beneficial to organize and frame different elements with the consideration of both “IN” and “OUT” in a logical way:

As you can see, our value proposition is strengthening extra-team relationships. Customer segments are targeting at students-athletes with mental stress in a rigorous training schedule.

What was it like to research your markets?

Reaching out to student-athletes at SF State University, we tested our MVP with “defending monsters” gamification concepts and tried to figure out who they preferred to share their emotions with.

What went well?

Gamification was interesting which adds more fun to our service. We thought it could be one potential way to go. The interviews were well conducted with helpful insights.

For market research, comparative landscape helped to analyze the existing products/services from different perspectives. ( But actually we need more details to show how they are different from or similar to our service. )

What was hard?

Male student-athletes find it hard to share their feelings with others, as they are worried about affecting social dynamics and their personal reputation. We need to create a safe and non-judgemental way for them to do so.

What was the result?

We learned that student-athletes preferred talking with people they are close to and familiar with, while they worried about the technology for AI was not advanced.

As for comparative analysis, we need more details dimensions to compare those services to bring more sense. We were thinking about the form of our service. Since it was still a blue ocean for IoT products in the mental health area.

How did your idea for your business change? Why?

From the interview with a sports psychologist, we learned that non-judgemental and not additional competitive atmosphere is important. This drove us to our Updated Value Proposition:

To create a safe and non-judgemental space for student-athletes to share their emotions with friends outside of the team.

Team Week — in session

What was it like to share feedback?

It was a helpful and polite way to write down thoughts and feedback to teammates, keeping everyone open-minded.

What was it like to receive it?

On the one hand, it created an open space to know ourselves from others’ perspectives. On the other hand, it helped to “show thoughts” in a more acceptable way without “saying directly.”

What did you learn that surprised you?

My teammates knew me a lot :) I was really happy about it lol. They observed that I really would like to engage and make efforts for our teamwork. They encouraged me to speak out more and show my opinions. With their support, I found myself moving further every time. I learned a lot from my teammates: Rachel was an organized product manager who cared about the whole team and united us together. Richie was a thoughtful criticizer who believed that concepts should be supported by convincing evidence. Vicky was a unique and logical researcher, who valued unique ideas, data-driven sources, and project efficiency.

What assumptions did you have going in?

My teammates encouraged me to speak out more and be confident to show my opinion :)

How do you feel your behavior and team participation will change based on what you learned?

For me, I’ll make more efforts to participate in our group communications instead of just listening. For our team, I think everyone learned about our strengths and weakness and knew how to cooperate with each other better in the future.