Plantclub.io is a startup that tries to rent plants for offices, something that could be easily done also in Qatar.
It has a website (www.plantclub.io/) that explains how the business works. [Important, this is not to be confused with www.theplantclub.com which also has some YouTube videos].
Requirements:
- Your task is to prepare a Lean Canvas for Plantclub.io.
Please use the known template to build the canvas. Of course, you may take reasoned assumptions when filling out the Canvas. But please remember that the assumptions should be realistic, if you are new to the sector, you can always find relevant information on the internet. Do not overdo the search though.
Comment on your canvas (maybe in the comments field underneath), think of what could go wrong and what risky assumptions are and what potential pivots (which can be indicative of successful customer discovery) could be.
- Write a 1 page paper (Times New Roman, font size 12, single spacing) explaining in your own words, how one could setup Plantclub.io in a Lean Startup way as well as following a traditional entrepreneurial method.
- Try to think of three experiments that you could run in order to validate any assumptions you might have (max 2 pages, formatting as above).
- In addition, try to build a traction model for the company assuming they aim to achieve 8 million QAR revenue three years from now (maximum 2 PowerPoint slides). Please be explicit on any assumptions you may make.
Put this all into a word doc (by copying the PowerPoint slides of 1) and 4) into the word doc)
some additional context:
- In general, of course, the assignment is not about a company you are currently working on, so for some information you need you can be creative: either take a well-reasoned assumption or quickly google a few things shortly (e.g. regarding prices). But please do not overdo any sort of research, rough estimates will suffice (this is not about being very precise about data, but more about the method and the application of tools in entrepreneurship).
- Regarding the traction model (which I included because of some comments you wanted to take away) helps you to understand whether a business model is worth pursuing and it let’s you ballpark the business model and set yourself some goals. The example you saw in class and in your slides is from a SaaS software business serving SaaS customers. So when doing a traction model for “PlantClub”, some things may not apply one-to-one. So see what from the class example you can use to ballpark the “PlantClub” business model assuming you want to do 8 million QAR as revenue in 3 years.
- Also, you do NOT formally need to do a AARRR framework (like in the exercise we did together) for the take-home assignment, even though conversions from one step to the other might be useful for your traction model (so there is no task to prepare an entire AARRR framework).
Then, altogether (as indicated in the attached sheet) please put everything into one document (then it is all in one place). E.g. if you have a PowerPoint for the Lean Canvas, just copy this into the .doc