�ݺ�ߣ

Lean Entrepreneurship Project
FreshEntrepreneurs2014
World Menu
Session 4
Pauline von Nostitz 152113321
Pedro Mariz 152113366
Maria Murasheva 159114599
Alicja Sadlo 159114503

Elevator Pitch – WOLRD MENU
World menu helps restaurants / hotels / cafés to solve the
problem of language barrier as well as the labour-intensive
process of updating menus by providing professionally translated
up-to-date digital menus in any language. This is better than the
common process of translating menus manually and internally as
done by many restaurants nowadays because it saves time,
labour force and will provide professional translations, which
ultimately leads to a improved customer experience.
26.09.14 FreshEntrepreneurs2014 2

Assessment of Idea

Business Model Canvas
• https://canvanizer.com/canvas/HHF4lnH4-Fc

Hypothesis
Component: Customer Segment
Hypothesis Restaurants, hotels and cafés face the problem of
language barrier with their customers.
Test Conduct 20-30 interviews with restaurants, which
are located within touristic areas and offer medium
to high priced food & beverage.
Validation If a minimum of 65% of participated restaurants
confirm language barrier problems.
Result
26.09.14 FreshEntrepreneurs2014
5

Hypothesis
Component: Value Proposition
Hypothesis The maintenance & updating of menus is a time-consuming,
labour intensive task Restaurants,
hotels and cafés would prefer to outsource.
Test Conduct 20-30 interviews with restaurants, which
are located within touristic areas and offer
medium to high priced food & beverage.
Validation If a minimum of 65% of participated restaurants
confirm language barrier problems.
Result

Component: Channels
Hypothesis
Hypothesis Service can be offered directly (no intermediaries)
to clients through a website as nowadays people
accept online services easily.
Test Landing page
Validation If landing page gets visited at least 150 times
within 2 weeks.
Result

Hypothesis
Component: Customer Relationships
Hypothesis The best way World Menus can offer its service is
through web based personal assistance.
Test Run a survey with restaurants asking them about their
preferred relationship type.
Validation If survey results indicate a preference of restaurant
owners towards a web based personal assistance.
Result

Hypothesis
Component: Revenue Streams
Hypothesis Restaurants will be willing to pay a fixed “menu” price
for each translation.
Test Run a survey with restaurants identifying the
willingness to pay / preferred payment plan for the
service.
Validation If survey results indicate an acceptance of the
proposed payment plan.
Result

Hypothesis
Hypothesis Restaurants will be willing to pay a monthly
maintenance / change fee.
Test Run a survey with restaurants identifying the
willingness to pay / preferred payment play for the
service.
Validation If survey results indicate an acceptance of the
proposed payment plan.
Result

Hypothesis
Component: Key Partnerships
Hypothesis World Menu will find translation agencies, which entail
the intellectual property and resources to offer its
service in a cost efficient way.
Test Interviews / personal meetings with several translation
agencies gathering information about their offer.
Validation If qualified agencies can be found which offer service
at reasonable price.
Result

Hypothesis
Component: Key Partnerships
Hypothesis World Menu will find printing agencies, which entail
the required machinery and design knowledge to offer
its service in a cost efficient way.
Test Interviews / personal meetings with several printing
agencies gathering information about their offer.
Validation If qualified agencies can be found which offer service
at reasonable price.
Result

Hypothesis
Hypothesis Once the service has attracted enough customers,
restaurants will want to place their advertisement on
the app and by doing that provide another revenue
stream.
Test Survey installed on website checking willingness of
restaurants to advertise within the app in the future.
Validation If more that 55% of participants indicate wiliness to do
so.
Result

Hypothesis
Component: Cost Structure
Hypothesis World Menu variable costs are only influenced by the
relationship with key partners.
Test Interviews / personal meetings with several key
partners gathering information about their offer /
prices etc..
Validation If key partners do not ask for subscription fee but for
usage fee only.
Result

Session Summary
• Customer Development
First of all you need to understand your customer, because without customer there will be no business.
Step 1 - Discover your customer (Who are they? / Problem-Solution-Method: Find solution to common problem)
Step 2* - Validation of Hypothesis (Methods to test: Surveys, Interviews, AdWords, Landing pages etc., if invalid -->
PIVOT)
Step 3 - Market (Create company & sell like crazy)
Step 4 - Grow company (Attention to trends & competition)
• Validation Process:
- Design Model
- Define Hypothesis
- Prioritize Hypothesis
- Test Hypothesis
- Analyse Result
• Business Model Environment
Pay attention to micro and microeconomic trends (political, social, economical, technological) and if needed, pivot idea
according to them!

�ݺ�ߣ

Business Model Hypothesis LEP FreshEntrepreneurs2014

More Related Content

Viewers also liked (8)

Similar to Business Model Hypothesis LEP FreshEntrepreneurs2014 (20)

Recently uploaded (20)

Business Model Hypothesis LEP FreshEntrepreneurs2014