Kick-Off of "Six Feet Under"

On Friday October 24th, the team met to finalize our Team Contract and to construct our Business Model Canvas (BMC).

1.1: The Business Model Canvas 

Our initial concept is to create a standard box coffin that is simple and inexpensive.  From there, the customer can choose from a series of 'sleeves' to add to the exterior of the coffin.  Initially, we will focus on marketing this product in the Netherlands because it will be easier for us to meet with the customers.

Value Proposition: help customers customize coffins easily and affordably.

Below is our initial BMC.

Six Feet Under - Initial BMC (created on Oct 24th using canvanizer.com - link to original)

We also looked into other business models and created BMCs for these alternate ideas:

• The first alternative is to target pet owners wanting to personalize a funeral or service for their pets.  The details can be found in the following BMC: https://canvanizer.com/canvas/nwRezS9kAf0
• The second alternative is a freemium model that covers both the customer arranging the funeral and pet owners. It explores the possibility of giving the sleeves away for free, and that the revenue may come from advertising fees from funeral homes, insurance companies, local veterinary clinics and local pet stores that would be advertised on our website.  The details can be found in the following BMC: https://canvanizer.com/canvas/VLFAuVjskZQ
• The last alternative is a No Frills – Low Cost option for both customers arranging the funeral and pet owners.  This option would offer a choice from afixed number of sleeves.  There would be no option for a customised design.  The sleeves would be sold via our website, in retailers such as supermarkets, DIY stores, pet shops and Funeral Homes.  The details can be found in the following BMC: https://canvanizer.com/canvas/-17AIux_6eU

We started creating our dashboard during our meeting on October 24th, and over the course of the weekend all of us took turns adding to it.

What is our customer-problem hypothesis?

1.2: Business Model Search

Hypotheses	Level of uncertainty	Explanation	Data Sources	Potential Interviewees	Leap of Faith	Experiments
There is a market available for it	2	- Will people want to customize their coffin?	- Undertakers maybe able to tell us if they get requests for customized coffins. - Final consumers may be able to talk about their needs and if we solve something for them	- Undertakers - Final Consumers	-There is a market for this kind of product
Pricing will be reasonable	2	- We need to verify that the boxes can be made inexpensively, and that panels can be created such that they can be placed on the box easily and securely. - As well, if making the boxes overseas we need to figure out shipping costs and import duties. - Also we need to figure it out How much the people is willing to pay for it	- We will need to get a design first. Then we can try to get quotes from factories? - Basic Box price - We can get the information of potential supplier from Internet -We need to get potencial shipping price - Duties (from Internet)	- Undertakers - Potential Suppliers	The price of the sleeve + basic coffin (inexpensive) gets a reasonable price (like a regular or expensive coffin)
Customers will be wanting to spend money and time on it	2	- We need to find evidence that people plan their funerals.	- Undertakers	- Undertakers - Family and friends - Colleagues - Potential Consumers	- People is willing to pay more to get a customized coffin
There are biodegradable materials available that can be used	2	- Wood is biodegradable - Cardboard couldbe used also - The design that we will provide could be biodegradable? - What kind of raw material could be printed with good presentation - We need to go through the environment laws to see if there are some restrictions of use of some materials in this kind of products	- From Internet	- Potential Suppliers	- There is no restrictions on the materials that could be used
Undertakers and insurance companies will be available as partners	3	- We would need to get an undertaker to agree to show our product to his customers.	- Undertakers
JIT Delivery will be possible	1	- The advance purchase, is almost null for these kind of products, so we will need a good time of response - We need to think about if we will have a printing supplier or if we will have our own machines - How much time do we have to give the product to the undertaker	- Machine prices - Supplier prices - Supplier time of response - Warehouse prices	- Printing house - Undertakers	- The product will be delivered as soon as possible so we can solve the customer needs
There is less competition in this market	2	- We need to research to see if the concept exists. If there is a market we need to know our competitors	- Undertakers - Also an internet search.	- Understakers	- There is a low competition on this area so it will be easy to get competitive advantage from other competitiors
Everybody in Holland uses an undertaker	2	- What does Dutch law say? - Do they have to use an undertaker?	- Internet search	- People who live in Netherland	- The people always have to go through an Undertaker company to get funeral services
How many coffin sizes there are in the market	2	- We need to know if the are standard coffin sizes	- Undertakers	- Coffin supplier	- There are standard sizes of coffins in the market
Chinese supplier is the best in terms of price, quality and speed?	2				- The Chinese supplier will be the cheapest and also capable to respond to our needs

1.3: Testing Low Uncertainty Assumptions 

Our team still needs to come up with a plan to answer the following questions:

• Which companies did you (or will you) investigate to collect specific pieces of evidence and to shape your current business model? 
• Who did you (or will you) interview to collect specific pieces of evidence and to shape your current business model? 

1.4: Leaps of Faith

The leaps of faith assumption are listed below in the Dashboard.

1.5: Dashboard

Leap of Faith	Hypotheses	Measures	Tests	Findings	Conclusions
-There is a market for this kind of product	There is a market available for it
- The price of the sleeve + basic coffin (inexpensive) gets a reasonable price (like a regular or expensive coffin)	Pricing will be reasonable
- People is willing to pay more to get a customized coffin	Customers will be wanting to spend money and time on it
- There is no restrictions on the materials that could be used	There are biodegradable materials available that can be used
	Undertakers and insurance companies will be available as partners
- The product will be delivered as soon as possible so we can solve the customer needs	JIT Delivery will be possible
- There is a low competition on this area so it will be easy to get competitive advantage from other competitiors	There is less competition in this market
- The people always have to go through an Undertaker company to get funeral services	Everybody in Holland uses an undertaker
- There are standard sizes of coffins in the market	How many coffin sizes there are in the market
- The Chinese supplier will be the cheapest and also capable to respond to our needs	Chinese supplier is the best in terms of price, quality and speed?

1.6: Our Goals

Briefly report what it is that drives you as a startup entrepreneur? What do you want to achieve? What do you want your startup to achieve? How about the goals of the rest of your team?

David: I enjoy solving problems, and doing this as an entrepreneur gives me the flexibility to truly be innovative.  I hope to learn a lot from the "Six Feet Under" startup, and plan on applying the lessons that I will learn in my next venture.

Felicia: "My goal is to learn the steps required to turn an idea into a viable business model."

Lorena: "My goal is to take everything learned from the course and also my team to be able to use if after on some personal ideas that I want to develop later"

Vandana:"My goal is to be able to critically look at a business and Judge it's profitability and feasibility. I also seek to learn about the different steps prior to the launch of a venture."