Week 6 Business Model Canvas
Monday 21st: We run both business idea (STU and Buy Cheap) with Isaac after class and he helped provide some guidance on how the business might work. However, we decided to interview more people about Social media and cost of living. The truth revealed. STU is a boring app and Buy Cheap doesn't really solve their problem. With this in consideration, we spent some time to reconsider about the business idea and regroup on Wednesday.
Wednesday 23rd: As we decided to meet up, I booked a library room for 2 hours for our group discussion from 10-12am. First thing we talked about was that we didn't like what we have now. There it goes, one week of brainstorming, idea generating, time spent thinking, business modelling, both of my ideas went straight to the bin. I took 2 minutes of silence to make up my mind while my team talk about the interview. Then...... it starts. Fiona mentioned procrastination was repeated multiple times during interview and Sarah added about the motivation that drives student to do their tasks, so we identified the 'REAL' problems of student, Procrastination and Lack of Motivation. Each of us think of the new idea of how to solve this problem, and a magical idea came to my mind within one minute. How about we made an app that help them plan their daily/weekly tasks while AI study the complexity of the task and allocate point to them. By completing the task, they would earn point and eventually could redeem for a real voucher. That would definitely motivate me to do some tasks. "Ooh, I like that idea" Fiona. We talked a bit about the app and Nhung mentioned a digital pet that could be a great addition and also worked as a motivator. Yeah, this could work! We chatted on how this app might work and build a business model canvas. After the meeting, we separated into 2 pairs to interview more customers. This round was better than the last, we felt more confident, it was easier to emphasise on their struggles, and received valuable information from them. After regrouped, We shared notes and split our ways. As soon as I hit home, my journey of giving this idea a look and how it can work starts...... See you next blog.
