Create a new mini business plan: include the following
Value proposition
Business Model CANVAS
Include a word document or pdf file
The Experiment:
Describe the product/service (MVP) and show us the presentation tools, material, prototypes, etc. used.
Identify and describe the “buyer persona” and “use cases” relevant for your project.
Prepare at least 8 -10 questions to get feedback for your customers (each team member must interview two persons)
Prepare prototype of your product/service
Describe target customer and how did you approach them?
Describe what customers liked/disliked about the value proposition of your
product/service.
Mini Business Plan: Value Proposition and Business Model Canvas
Value Proposition:
Our company, XYZ Solutions, aims to provide innovative and user-friendly software solutions for small businesses in the retail industry. Our primary value proposition is to streamline and automate various business processes, enabling our customers to increase efficiency, reduce costs, and improve customer satisfaction. By offering a range of customizable software modules, we empower small businesses to compete with larger enterprises and enhance their overall performance in the market.
Business Model Canvas:
Business Model Canvas
The Experiment:
Product/Service (MVP):
Our minimum viable product (MVP) is a cloud-based point-of-sale (POS) system tailored specifically for small retail businesses. The MVP includes features such as inventory management, sales analytics, customer relationship management (CRM), and integrated payment processing. We have developed a prototype of the software using wireframing tools to showcase its functionality and user interface.
Buyer Persona and Use Cases:
Our target buyer persona is "Sarah," a small business owner in the retail industry. Sarah owns a boutique clothing store and is looking for a cost-effective solution to manage her inventory, track sales, and streamline her business operations. The use cases for our product include inventory management, sales tracking, customer engagement through loyalty programs, and integration with online marketplaces.
Feedback Questions:
What are the key challenges you face in managing your business operations?
How do you currently handle inventory management and sales tracking?
What features would you find most valuable in a retail management software?
How important is it for you to have integrated payment processing capabilities?
What are your goals for improving customer engagement and loyalty?
How comfortable are you with adopting cloud-based software solutions?
What pricing model would be most suitable for your budget?
Are there any specific concerns or reservations you have about using new software?
Target Customer Approach:
To approach our target customers, we conducted market research to identify small retailers within our local area who were facing challenges related to business operations management. We reached out to them through email campaigns, social media advertisements, and direct networking at local business events. We offered a free trial of our MVP software and scheduled personalized demonstrations to showcase its features and benefits.
Customer Feedback on Value Proposition:
Customers appreciated the user-friendly interface and the comprehensive features offered by our software. They particularly liked the inventory management capabilities, as it helped them track stock levels accurately and reduce overstocking or stockouts. The integrated payment processing feature was also well-received as it simplified the checkout process for both customers and staff.
Some customers expressed concerns about the initial learning curve associated with adopting new software. They also emphasized the importance of affordable pricing plans that align with their budget constraints. Overall, customers recognized the value proposition of our product/service in terms of increased efficiency, cost savings, and improved customer satisfaction.
Please find the detailed presentation in the attached PDF file: Mini Business Plan Presentation