Lumey Business Proposal/ Plan

Lighting the way

Utilizing historical data to predict where and when crime will happen next.


1. Business Problem:  What business problem are we trying to solve?

2.  Value Prop:  What solution are you proposing or evaluating?

3.  Target Market:  Who is the buyer or user?

4.  Market Size: (this isn't always possible early on) - how big is the opportunity? if you don't know yet, any ideas how to test and find out? *Critical According to the Video*

5.  Competitive Landscape: What else is already out there?

6.  Differentiation:  What makes us different?

 

7.  Timing: Why do we need / should we do this now?

 

8.  GTM:  Go to market strategy - how will this product be sold?

9.  Results:  How will we measure success?

10. Solution Requirements/ Risks: What special needs / factors are critical to success? Any unique risks? (legal, business partnerships, etc.)

11. Recommendation:  Given the above, what’s your recommendation? (go or no-go)

12. Feature Ideas and highlights: 

13. Emerging Markets: Where else can this product be used? How do you know?

Jude Questions:

Validation:

Did the team get out and talk to customers?

Are they actually solving a problem?

What’s their clear value proposition to that customer?

Have they identified a specific target market?

Execution and Design:

Did they work well as a team?

Did they have an MVP or prototype (paper is ok) to present?

How functional was the demo?

Was the usability of the product easy and friendly? Design Matters!

Business Model:

Does their solution solve a core need/problem?

Did they present a value proposition

Is it unique?

How will they differentiate themselves from their competition (did they identify competition)?

What is the go-to-market/launch strategy?

How will they make money?

What is the user acquisition model?

User needs to:

Revenue/ Monetization Predictions:

Channel

Estimation

Rev Strategy

Suggested Alternatives (ADs): Allowing rideshare and public transportation businesses to display suggested alternatives to walking

100K MAU x 1.5 sessions/ day x 6 Ads/session x Ad click through rate (CTR) = 5%
450K ads clicked/month at $.5/click
$22,500/ month * 12 =  $270,000 Annual Recurring Revenue

Short Term: $270,000 ARR

Community/ User Data:

 ** Buyers of this data include:
- Demand Side Platforms (ex:


Long term

Acquisition

Proven model for products in our space

Long term

Market Research Questions:

“Hi, we just came up with this business for Startup weekend and want to do some research about an application we are working on. Now we don’t really know what we are doing or if it will work but we would really love your feedback if you don’t mind.”

→ is the person I’m talking to a potential customer

Characteristics of an early adopter:

Actual Questions:

NUMBERS

100K MAU x 1.5 sessions/ day x 6 Ads/session x Ad click through rate (CTR) = 5%
450K ads clicked/month at $.5/click
$22,500/ month * 12 =  $270,000 Annual Recurring Revenue