SLIDES:

Small business: A company (Usually, a sole-proprietorship or partnership) operating locally, and does not have access to a vast
resources or capital. Safe Business – Low Risk.

Startup: A startup is a newly established business or company that is in the early stages of its development. Startups are often
characterized by their focus on innovative products, services, or business models. An individual acting on an idea, usually to disrupt
the current market with a new product or service. Disruption – High risk.

• Innovation • Risk • Funding • Growth • Profit

• Purpose: • Value addition • Scalability? • Making a difference • Profit?
• Skills: • Solution oriented • Adaptability • Growth oriented • Self-aware

Steps: Empathizing, Defining, Ideating, Prototyping, Testing, Sharing

• Empathizing: Empathy is all about setting aside your own assumptions about the world and gain real insight into users and
their needs. Develop the best possible understanding of your users, their needs and the problems that underlie the
development of the product or service you want to create. Hold interviews and surveys. Empathy map of a person: Says,
Does, Thinks, Feels
• Defining: Organize the information you have gathered during the Empathize stage. Analyze your observations to define the
core problems. Define a Problem Statement.
• Ideation: Come up with as many ideas and solutions as you can.
• Analyze: Is your proposed solution feasible, both from a market perspective and a technology perspective?
• Would your users pay? Can you compete? Is there sustainable competitive advantage? Do we have a team that can
effectively capitalize of this opportunity? What is the risk / reward profile of this opportunity? Does it justify the investment
of time and money? Is there a sufficiently attractive market opportunity?

INDUSTRY ANALYSIS:
Dynamics of the market you are entering, identify opportunities and challenges, and make informed decisions. Here's a step-by-step
guide on how to conduct industry analysis for your startup:

Define Your Industry: Clearly define the industry your startup operates in. Identify the primary and secondary sectors your product
or service belongs to.
Gather Industry Data: Collect relevant data on the industry. This can include market size, growth rate, trends, and key players. Utilize
industry reports, market research studies, and government publications.
Know the Market You Are Operating In:
Identify major competitors and analyze their strengths and weaknesses.
Determine the market size, growth potential, and current trends.
Understand the Opportunities:
Identify gaps in the market that your business can address.
Stay updated on technological advancements and changing consumer needs.
Monitor regulatory changes for potential business opportunities.
Understand the Challenges:
Analyze the competitive landscape and potential threats.
Consider economic factors and prepare for uncertainties.
Recognize barriers to entry and develop strategies to overcome them..

DEFINING TARGET MARKET:

Who Is Your Product Or Service For? Group with increase in disposals income Middle class and Upper Class
What Needs Does Your Product Or Service Meet? Cleanliness / Hygiene. Promoting creativity in Children
Who Is Most Likely To Buy Your Product Or Service? Woman / Mothers
What Demographics Are You Targeting? Age: 25 – 5, Gender: Female, Disposable Income: Available, Location: All Over Pakistan
What Psychographics Are You Targeting? Loyalty, Deliverance of perceived value promised by the product, Quality and Economical.
BUSINESS CANVAS:
CUSTOMER SEGMENTS:
Customer Segmenting is the practice of dividing a customer base into groups of individuals that are similar in specific ways, such as
age, gender, interests and spending habits.
The customer segment is defined as the specific group of people or organizations that a company aims to reach and serve with its
products or services. It involves identifying the various types of customers who have similar needs, preferences, and behaviors that
the business can cater to. This can be based on factors such as demographics, psychographics, behavioral patterns, or specific
problems they need solving. The customer segment essentially helps the business understand who their target customers are and
how they can create value for them.
Mass market: General population or a large group of people with similar needs. For example, a product like a phone.
Niche market: Specific group of people with unique needs and traits. Buyers of high-end sports shoes.
Segmented: Slightly different needs, there could be different groups within the main customer segment.
Diversified: A diversified market segment includes customers with very different needs.
Multi-sided markets: Interdependent customer segments. A credit card company caters to both their credit card holders as well as
merchants who accept those cards.

CUSTOMER RELATIONSHIPS:
Need to establish the type of relationship you will have with each of your customer segments or how you will interact with them
throughout their journey with your company.
Personal assistance: You interact with the customer in person or by email, through phone call or other means. Nayatel
Dedicated personal assistance: You assign a dedicated customer representative to an individual customer. Priority Banking
Self-service: No relationship with the customer, but provides what the customer needs to help themselves. McDonald's
Automated services: Automated processes or machinery that helps customers perform services themselves. Individual Bank
Customers
Communities: Online communities where customers can help each other solve their own problems Microsoft
Co-reation: Allows the customer to get involved in the designing or development of the product. Youtube

CHANNELS:
How your company will communicate with and reach out to your customers? How are we going to tell our customer segment about
our value roposition?
➢ Social media, Public-speaking, Email marketing, Networking, SEM (Search Engine Marketing), SEO, Viral marketing, Targeted
blogs, Sales and promotions for commissions, Affiliates, PR, Trade shows, Content marketing, Offline advertising (billboards,
TV, radio)
➢
KEY ACTIVITIES:
The Key Activities of your business/product are the actions that your business undertakes to achieve the value proposition for your
customers.
➢ What activities does the business undertake in achieving the value proposition for the customer? What is the resource
used? Time and Expertise? Distribution of product? Technical development? What actions does it take you and/or your staff
to achieve value exchange?

KEY RESOURCES:
Practical resources are needed to achieve the key activities (actions) of the business. Key means the resources your business requires
to do business.
➢ Human (employees), Financial (cash, lines of credit, etc.), Intellectual (brand, patents, IP, copyright), Physical (equipment,
inventory, buildings)

KEY PARTNERS:
Key Partners are external companies/suppliers/parties you may need to achieve your key activities.
➢ A Retail Store Selling Groceries, A Computer Shop, An Auto Shop, A Call Center, A Fast-Food Store

VALUE PROPOSITION:
Fundamental offering the company is trying to give its customers. Generally, value is exchanged from a customer for money when a
problem is solved or pain is relieved for them by your business.

➢ What exactly is your company trying to give to customers? What problem is your company trying to solve and what needs
are your company satisfying? How do you offer something different that satisfies the demands of your customer segments
(e.g. price, quality, design, status, etc.)?

COST STRUCTURE:
Your business cost structure is defined as the monetary cost of operating as a business.
➢ How much does it cost to achieve my business's key activities? What is the cost of my key resources and key partnerships?
How much does it cost to achieve the value proposition for my customers/users? Are there additional costs to running a
business? Legal? Insurance? What is the cost of my business? It is important also to place a monetary value on your time as
a cost. How much would it cost you to hire you? What is the opportunity cost of running your business?
REVENUE STREAM:
Revenue Streams are defined as the way by which your business converts your Value Proposition or solution to the customer’s
problem into financial gain.
Asset sale: it is the most common source of income, the result of the sale of a physical product, which belongs to the customer.
Usage fee: Frequency of use of a particular service. The higher the use, the greater the amount paid by the customer.
Subscription fee: Sale of continuous access to a particular service.
Lending, renting, or leasing: Client has the right to temporary access to a particular resource.
Licensing: Allowed to use a protected, for-profit intellectual property by paying a fee.
Brokerage fee: this revenue stream provides a percentage of the value of a service executed, through intermediation between the
parties.

Our Startup:
"Empower Your Ride, Go Electric, Go Green!" ECOVOLT

tag line of startup

Problem Being Addressed:

- The problem we are addressing is the limited accessibility to electric cycling due to the high cost and barriers associated with
purchasing a pre-made electric bike. Many individuals are interested in the benefits of electric cycling, such as reduced
environmental impact and enhanced commuting options, but are deterred by the expense.
Pain Points: We are relieving the pain points of affordability, accessibility, and the environmental impact of transportation.
Individuals who want an electric cycle solution often find the market options cost-prohibitive. Our solution aims to provide an
affordable and easy-to-install kit, converting existing bicycles into electric cycles, thus reducing the financial burden and promoting
sustainable transportation.
Reason for Purchase: People will want to purchase our product because it offers a cost-effective and eco-friendly solution to
transform their traditional bicycles into electric cycles. The quick installation time, coupled with the ability to pedal and charge the
battery simultaneously, addresses the key concerns potential users may have about cost, convenience, and environmental impact.

Solution:
Our Solution

- Our solution is an Electric Cycle Conversion Kit, a user-friendly and quick-installation kit that transforms regular bicycles into
electric cycles. This kit includes all necessary components, ensuring a seamless conversion process within just 30 minutes. By
providing an affordable and accessible solution, we empower individuals to enjoy the benefits of electric cycling without the need to
purchase an entirely new electric bike.

-Addressing Problems: Our product directly addresses the problems identified earlier. It solves the affordability issue by offering a
cost-effective conversion kit. The quick installation addresses accessibility concerns, and the dual power source (battery and
pedaling) tackles environmental impact concerns by promoting sustainable charging.
Our USP: The unique selling proposition of our Electric Cycle Conversion Kit lies in its quick installation (30 minutes), affordability, and
the innovative dual power source functionality. Unlike other solutions in the market, our kit allows users to convert their existing
bicycles into electric cycles rapidly and at a fraction of the cost of purchasing a pre-made electric bike.

Competitive Advantage: Our competitive advantage is rooted in providing an accessible, user-friendly, and environmentally
conscious solution. The combination of quick installation and dual power source distinguishes us from competitors. Additionally, our
commitment to sustainability by encouraging the reuse of traditional bicycles sets us apart in the market.

Porter’s Five Forces:

1. Threat of New Entrants:
• Explanation: This force assesses the ease with which new competitors can enter the market. Barriers such as brand
recognition, economies of scale, and government regulations can deter new entrants.
• Application to the Startup: If the startup has patented technology or established brand recognition, it can deter
new entrants. However, if the technology is easily replicable, and there are no strong entry barriers, the threat of
new entrants may be high.
2. Bargaining Power of Buyers:
• Explanation: This force examines the power customers have in the market. If buyers have many choices or can
easily switch between products, they have high bargaining power.
• Application to the Startup: In a market where there are multiple options for electric conversion kits, customers
have high bargaining power. The startup needs to focus on differentiation, customer service, or pricing to retain a
competitive edge.
3. Bargaining Power of Suppliers:
• Explanation: Suppliers' power is high when there are few alternatives for crucial inputs. If suppliers can dictate
terms, it can impact the profitability of the industry.
• Application to the Startup: If the startup relies on a limited number of suppliers for critical components, it may
face challenges if these suppliers increase prices or face disruptions. Diversifying suppliers or vertically integrating
can mitigate this risk.
4. Threat of Substitute Products or Services:
• Explanation: This force considers the availability of alternative products or services that could meet the same
needs as the industry's offerings.
• Application to the Startup: The startup faces a threat if there are alternative methods of converting regular
bicycles to electric ones, such as buying pre-made electric bikes. Understanding and addressing the reasons
customers might choose substitutes is crucial for the startup's success.
5. Intensity of Competitive Rivalry:
• Explanation: This force looks at the level of competition among existing firms in the industry. High competition
often leads to price wars and reduced profitability.
• Application to the Startup: If there are many competitors offering similar conversion kits, the startup must find
ways to differentiate itself, such as through innovative features, superior customer service, or strategic
partnerships.
-30 Seconds or Less:

- In the Electric Cycle Conversion Kit industry, our visual representation of Porter's Five Forces underscores our unique position.
While the threat of substitutes exists, our innovative features and commitment to affordability and sustainability create a strong
competitive advantage. The bargaining power of buyers is mitigated by our affordable pricing, and strategic partnerships reduce the
bargaining power of suppliers. With a focus on innovation and sustainability, we navigate the industry landscape with resilience.

Our Business Canvas:

1. Customer Segments:
- *Segmented:*
- Urban professionals and students aged 25-40 with a focus on eco-friendly living and cycling.
- *Key Focus:*
- Affordability, sustainability, and commitment to a green lifestyle.
2. Customer Relationship:
 - *Personal Assistance:*
- Online customer support and guides for installation.
- *Self-Service:*
- Comprehensive user manuals and troubleshooting guides.
- *Automated Services:*
- Online ordering system and automated tracking.
- *Communities:*
- Online forums for users to share experiences and tips.
- *Co-Creation:*
- Interactive platforms for users to provide feedback on product enhancements.
3. Channels:
- *Social Media:*
- Engage and promote on platforms like Instagram, Facebook, and Twitter.
- *Email Marketing:*
- Regular newsletters and updates to subscribers.
- *SEO and SEM:*
- Optimize online presence for search engines.
- *Content Marketing:*
- Blogs, articles, and videos showcasing product benefits.
- *Offline Advertising:*
- Targeted campaigns through billboards and radio in urban areas.
4. Key Activities:
- *Production:*
- Designing, manufacturing, and packaging the Electric Cycle Conversion Kit.
- *Problem-Solving:*
- Continuous improvement based on user feedback.
- *Platform/Network:*
- Maintain an online platform for sales and customer engagement.
5. Key Resources:
- *Human:*
- Skilled workforce for design, production, and customer support.
- *Financial:*
- Funding for production, marketing, and operational expenses.
- *Intellectual:*
- Patents for unique features, branding for product recognition.
- *Physical:*
- Manufacturing equipment, inventory, and storage facilities.
6. Key Partners:
- *Suppliers:*
- Source quality components for the conversion kits.
- *Distributors:*
- Collaborate with bike shops for distribution and installation services.
- *Marketing Partners:*
- Form partnerships for joint marketing efforts.
7. Value Proposition:
- *Fundamental Offering:*
- Affordable Electric Cycle Conversion Kits providing a quick and eco-friendly solution.
- *Unique Selling Points:*
- Quick 30-minute installation, dual power source functionality, and sustainability.
8. Revenue Stream:
-Asset Sale: Selling Electric Cycle Conversion Kits directly to consumers.
-Subscription Fee: Offering optional subscription services for maintenance and updates.
-Licensing: Exploring licensing opportunities for specific features or technologies.
9. Cost Structure:
-Production Costs: Design, manufacturing, and distribution expenses.
-Human Resources: Employee salaries and training.
-Intellectual Property Costs: Licensing and patent fees.
-Operational Costs: Marketing, utilities, and maintenance..

Customer Persona:
Meet Alex Green, a 30-year-old urban professional passionate about eco-friendly
living. Alex, an avid cyclist, seeks a cost-effective and sustainable commuting
solution. Concerned about the high cost of electric bikes, Alex values products
that align with a green lifestyle. Our Electric Cycle Conversion Kit is tailored for
individuals like Alex, offering an affordable and eco-friendly solution to enhance
their existing bicycle. With a quick 30-minute installation and the ability to charge
the battery while pedaling, our kit aligns perfectly with Alex's commitment to a
green lifestyle. Join Alex in the journey towards sustainable and efficient
commuting with our innovative Electric Cycle Conversion Kit.