This is a Business Model Canvas Presentation for our start-up company?Smart Home Security Solutions. Please find the PDF attached with requirements, you need to include all thes
This is a Business Model Canvas Presentation for our start-up company Smart Home Security Solutions. Please find the PDF attached with requirements, you need to include all these in the PPT.
Refer to the PPT attached of the basic draft of the Smart Home Security Solutions.
PPT should have all the points mentioned in the required document. Should cover all the points.
Our Smart Home Security Solutions is a real startup company, not a concept.
We need to mention the exact numbers, how much it is going to cost, how many customers and how much we are going to generate the revenue?? What are the competitors
What is the exact key advantage compared to competitors??How are we going to expand it? How much will be the revenue in first, second, third, fourth years? Whar are the mission and vision of the company?
ENTP 510 – Entrepr: From Traction to Scale
Topic – Startup Idea Presentation
By Anusha Kistapuram
Secure NEST
Mission- Creating the best home security solutions by integrating cutting-edge technologies
Vision- Make the world a secure place to live
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INTRODUCTION
A home security system’s purpose is to keep the home and people inside the home safer from home invasion, intruders, fire hazards etc.
A home security setup includes a cameras, motion sensors, glass break detectors, gas sensing for fire detection and a siren to alert residents
Smart security systems are connected to the internet which allow the user to view live footage from the camera using a mobile app, receive notifications when alarm goes off and it also allow to control the system remotely.
The innovative home security business aims to develop cutting-edge home security systems that employ advanced AI and ML algorithms to monitor for and prevent break-ins. For example, Geofencing, it can detect and alert if someone crosses a specified perimeter.
Users would use a simple smartphone app to manage the system, which would work with other Internet of Things fixtures in the home, such as security cameras, lighting, and door locks.
Current Problems
Cost, affordability, installation, human error, and maintenance issues
Home security systems giving false alarms- example when insect/birds fly past, due to extra sensitive sensors
Expensive hardware and equipment costs
Sometimes it may be easy for hackers to hack into your system due to its vulnerable nature.
Insufficient coverage for the entire home. Poor area coverage by the cameras/Installing cameras in wrong areas
Equipment won’t work together when customers order from components from different manufacturers. (DIY security systems.)
High costs for regular maintenance and lack of comprehensive solutions
Product Solutions
Offering security systems at affordable cost, surveillance cameras that can offer high-definition images in extremely low light to provide better views of intruders.
Offering broad angle security cameras and install them at such locations where you can get maximum coverage.
False alarms can be irritating, by lowering down the sensitivity level of the sensors or get the wiring check-ups done by a our professional on regular basis.
Offering a mask feature created so that you can prevent motion detection in few parts of the house.
Product Solutions
Security systems can incorporate geofencing which creates a virtual boundary which is invisible and alerts if someone crosses it. Geofencing is a good feature that allow parents to create a boundary of area which is safer for the child , such as the perimeter of their home and yard. If the child tries to cross that area, the parents are notified.
AI can also be used for facial-recognition programs such as reading biometrics and facial features. The security system that utilizes AI could recognize family, friends and domestic workers and it can flag unfamiliar faces.
AI can also be used to differentiate the normal sounds and the suspicious sounds. AI “learns” your voice patterns and it can respond to your spoken commands and doesn’t give access to unrecognized/unfamiliarized voices. When it detects abnormal behavior/voice, it can begin recording the surrounding events and send an alert to the owner.
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Organizational structure
Executive Leadership: This includes the CEO, COO, and other top executives who are responsible for setting the overall strategy and vision for the company.
Operations: This department is responsible for the day-to-day operations of the company, including customer service, logistics, and product development.
Sales and Marketing: This department is responsible for generating leads, promoting the company and its products, and closing sales.
Product Development: This department is responsible for the design, development, and maintenance of the company's products.
Finance and Accounting: This department is responsible for the financial management of the company, including bookkeeping, budgeting, and tax preparation.
Human Resources: This department is responsible for recruiting, hiring, and managing the company's employees.
Target Customers
Smart Home Security is a start-up that targets homeowners, renters, offices, stores, public places, event organizers and small business owners who want a straightforward, economical, and practical approach to securing their homes and valuables.
The target market also includes people who like innovative home technology and want a complete solution that works with other smart home gadgets.
Tech-savvy people interested in new technology and eager to use it to enhance their life are also the target market.
Competition
Several well-established firms in the home security industry and new entrants in the smart home technology space present formidable challenges to the smart home security business model.
ADT, Vivint, and SimpliSafe are the most well-known names in the home security industry, each providing tried-and-true systems that require expert installation and continuous monitoring.
These businesses are market leaders with well-known names and lots of satisfied customers.
Companies like Google Nest, Amazon's Ring, and Arlo offer intelligent home security systems that are simple to set up and operate from your phone, creating stiff rivalry in innovative home technology.
These firms are well-positioned to compete in the smart home security industry since they have established themselves as leaders in the smart home sector and have built up sizable customer bases.
Current status
The market for smart home security systems is growing quickly, which is expected to continue for a long time.
Reporting a CAGR of 17.3% from 2020 to 2025, MarketsandMarkets estimates the worldwide smart home security market will grow from its 2020 valuation of USD 39.9 billion to USD 89.2 billion.
Market expansion is fueled by factors such as the rising popularity of smart home devices, rising awareness about the need for home security, and the development of cutting-edge technologies like artificial intelligence and machine learning.
There needs to be more all-encompassing solutions that provide cutting-edge capabilities, are user-friendly, and are reasonably priced, which is driving the industry.
Go-to-market
The go-to-market strategy for the Smart Home Security business idea would focus on reaching and converting potential customers through a combination of online and offline channels.
The following are key elements of the go-to-market strategy:
Online marketing
E-commerce
Partnerships and collaborations
Trade shows and events
Customer referrals
Financial Projections
The company plans to invest a lot of money into research, development, and advertising in the first year.
As a growing number of people install a Smart Home Security system, sales could increase in the years to come.
There is a growing market for smart home technologies; therefore, the company should aim to turn a profit by the third year.
Business model
A smart home security business cany make money via hardware sales and monthly or annual subscription fees for monitoring and other services.
Hardware sales include smart locks, cameras, doorbells, and security systems.
Features, quality, and brand determine these devices' prices.
Services like maintenance, installation
Real-time monitoring, remote access, and alarm alerts could be charged monthly or annually.
These services may be priced by security and services.
The company target potential clients and produce leads to forecast and sell.
Funding
Several potential sources of financing for the smart home security startup include venture capital and angel investment.
Those who invest in companies with strong development potential may fund the startup via venture capital in return for a share of the company.
Investors with a lot of disposable income (angel investors) put their own money into businesses because they have faith in their potential.
Crowdfunding, government subsidies, and loans from financial institutions are all options the startup might pursue.
The business plan would include the startup's fundraising approach based on its unique requirements and objectives.
Key factors in Business success
Investment/Funding
Partnerships: Strategic partnerships with other companies, organizations, or individuals can help a start-up gain access to new markets, customers, and resources. For example, a smart home security start-up could partner with home builders, real estate agents, or technology companies to offer their services to a wider audience.
Talent: Having a talented and dedicated team can help a start-up succeed by bringing expertise, creativity, and passion to the business. This could involve hiring employees, hiring contractors or consultants, or leveraging partnerships to access the skills and knowledge needed to grow the business.
Conclusion
Overall, the smart home security startup has game-changing potential in the home security market.
The company hopes to address the issue of homeowners' lack of safety and security by providing a more cutting-edge, approachable, and unified solution.
Chances of success for the idea would go up a lot if it had venture capital, angel investments, or other types of financing, and if it also had a well-thought-out marketing plan.
The startup's detailed business plan will include the specifics of the company's finance strategy, marketing strategy, and other operational features.
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Proprietary & Confidential
Business Model Canvas Presentation Requirements
for ENTP 510
Proprietary & Confidential
BMC Final Presentation
“MAXIMUM” Time • Individual presentations: 10mins • Q&A: 5 mins
• Include – Name/Title, Company Purpose, Team Members
After getting feedback, make any changes and submit the presentation by the following Tuesday in Canvas
Proprietary & Confidential
Grade Breakdown
• 30 Points for your Presentation and Slide Deck
• 5 Points based on preparation, ability to answer questions, participate and ask other presenting companies questions etc.
• 5 Points for reasoning and selecting the presenting company of your choice (Tuesday assignment)
Proprietary & ConfidentialConfidential
Title
Company Purpose
Team
Problem
Why now
Product
Value Proposition
Market Opportunity
Go-to-Market
Current Status
Business Model
Competition
Financials
Ask
Thinktomi Startup Canvas (TSC)
Beachhead Market
Target Persona
High level Revenue for 3 years and cash flow
Include
Include – What does your company do?
Include – Who is on the team
Proprietary & Confidential
The 9 Building Blocks Scoring: 1 point for introduction
3 pts
3 pts
3 pts
3 pts 4 pts
3 pts4 pts
3 pts
3 pts
Proprietary & Confidential
Your Business Model?
1 23
4
5
67
8
9
Proprietary & ConfidentialConfidential
Title • Name, Title, Contact info,
etc.,
Company Purpose •Type of Company •Company business in a single sentence
• Mission • Vision
Team • Management Team • Board of Directors • Board of Advisors • Investors
Problem • What is the pain point • What is the customer issue
Why now • Recent trends that make your
solution a must have
Product • What is product, platform,
service, other • Product Roadmap • Minimum Viable Product
Value Proposition • What makes the customer life
better • Min Valuable Product • Use Cases
Market Opportunity • What is opportunity – market
size • Target Market – Target
Persona
Go-to-Market • How do you plan on getting
customers • Sales & Distribution Model • Marketing Strategy • Your 5, 50, 500 customer
acquisition strategy • Focus, focus, focus
Current Status • Accomplishments
• Customer • Revenue • Other
Business Model • Revenue Model • Pricing • Forecasts • Sales Pipeline
Competition • What is your competitive
landscape • What is your competitive
advantage
Financials • 3 years
• P&L • Cash flow • Balance Sheet
• Key Metrics
Ask • What do you want
• Money • Partnerships • Other
Thinktomi Pitch Canvas (TPC)
Proprietary & Confidential
Presentation Feedback and Selection
• In which ONE company would you invest $ 3 Million • 5 mins / student • You can’t select your own company • Why
5 points
,
Final Presentation
Submitted By: Chanchal Rijhwani
• An online marketplace for imperfect & surplus food
• Mission: To empower sustainability at the core level with the marketplace for excess & flawed produce.
• Vision: A world with utilizing 100% harvests no food wastage
Our Team
Chanchal Rijhwani – Co-Founder & CEO
Ashley Mitchell – Co-Founder & Director Customer Relations
Sandeep Sharma – Head of Marketing & Advertisement
Charles Young – Head of Supply & Operations
Problem
• 20 billion pounds of cosmetically flawed or unharvested food are wasted every year just because it doesn’t meet the standards of retailers/consumers.
• 25% fresh water gets wasted.
• It creates about 23% of Methane gas emissions.
Why Now? • Help the planet & fight climate change with
Imperfect Produce.
• 40% of the food being produced, ends up in landfills where it turns to methane, a greenhouse gas which is 100 times more intoxicating than carbon monoxide.
• While we recognize cars and cows as biggest contributors to climate change, but it is the food waste that is the sole biggest contributor of greenhouse gas emissions.
Product
• Helping farmers to sell non-standard & excess produce on our marketplace.
• Food companies & consumers can purchase from our marketplace, helping farmers and the planet.
• Our online platform takes care of everything from purchase to delivery with a few clicks.
Value Proposition
• We’re generating more economic prospects for the farmers by helping them get more out of their harvests.
• Consumers get the produce for 30% less than what they usually pay at the supermarkets.
• Less waste and more profit.
• Keep food out of landfills and help the environment.
• Support the local economy.
• Lower our collective carbon footprint.
• Compost scraps to turn them into soil for new growth.
Target Market
• Wholesalers
• Retailers
• Direct Consumers
• Schools
• NGOs
• Supermarkets
• Restaurants
Go-to-Market
Major customer acquisition is digital, but it also has leveraged word of mouth and referral campaigns.
Direct mailing campaigns.
Donation to local food banks for every social media post being shared using #eatingimperfectproduce hashtag.
Pay only for what you order, at prices that average about 30% less than supermarkets.
Sending out customized notes to get customer’s attention.
Using a portion of the produce to serve underprivileged communities which is used to build goodwill among customers, thereby reducing PR investments
Current Status
Saw a 400 percent spike in consumer demand during the pandemic.
Shipping out to 10 states plus the District of Columbia: California, Illinois, Indiana, Maryland, Minnesota, Oregon, Texas, Virginia, Washington and Wisconsin.
Working with 1,200 small food producers and farmers across the country.
Revenue in the year 2020 was 8,548,960
Business Model
• Source fruits and vegetables directly from farmers that otherwise would go to waste.
• Buyers can select closely what’s in their boxes with both organic and conventional fruits and vegetables.
• Ships those boxes straight to the consumers.
• Items are priced individually like a regular grocery store with a delivery fee of $4.99 – $9.99 based on the delivery location.
• Customers pay only for what they order, at prices that average about 30% less than supermarkets.
• Look forward to deliver to every major city nationwide while making a positive impact.
• Currently we operate from Illinois.
• In the last 3 years, we’ve extended to 15 cities and retained over 30 million pounds of food from getting wasted.
• By the end of this year, we plan to open a new warehouse in New Jersey, that will enable us to double the order capacity.
Product Roadmap
Aug 2017Aug 2017
Started operations in New York and Illinois metropolitan areas
Jan 2018Jan 2018 Jan 2019Jan 2019 Jan 2020Jan 2020 Jan 2021Jan 2021 Jan 2022Jan 2022 Aug 2023Aug 2023
Launched application for Android and IOS platform for customers
Expanded operation in Tri- State & west coast area
Break-even within 2.5 years of operations and bootstrapped further plans
Expand its presence in mid west of US
Launch application for Android and IOS platform for farmers
Target to achieve Net Revenue of USD 20 million with EBITDA margin of 45% and PAT margin of 30%
Competition
BRAND ONLINE ORDERING
APP
SUBSCRIPTION BOXES
BRAND STORY
RETAIL WHOLESALE
IMPERFECT PRODUCE
MISFIT FULL
HARVEST
HUNGRY HARVEST
Competitive Advantage
• Flexible delivery.
• Dealing with both direct customers or wholesalers.
• No middlemen.
• Deliver to more locations.
• Focus on both organic and conventional foods and produce.
• Send out reminder emails & celebrate consumer experience as major milestones are achieved with surprise cards, little gifts or extra food items in the box.
Financials
Year CY 2018 CY 2019 CY 2020
Revenue streams Product Sale 2,210,193 4,161,915 6,953,040 Subscription 500,455 1,572,081 1,595,920
Net Revenue 2,710,648 5,733,996 8,548,960
Variable Expenses
Rent 59,988 59,988 23,988
Marketing Expense 368,366 693,653 115,884
Admin 37,560 47,636 29,616
Travel/Conv 56,340 71,453 44,424
Legal&Prof 37,560 47,636 29,616
Printing and Stationery 15,020 16,925 13,329
Electricity & Telephone 14,871 16,757 6,665
Miscellaneous 93,901 119,089 74,040
App and Web development/Maintenance 14,149 15,944 36,567
Total Variable Expenses 697,756 1,089,080 374,129
Fixed Expenses
Salaries 834,900 917,700 303,600
Total Fixed Expenses 834,900 917,700 303,600
- Slide 1
- Slide 2
- Our Team
- Problem
- Why Now?
- Product
- Value Proposition
- Target Market
- Go-to-Market
- Current Status
- Business Model
- Product Roadmap
- Competition
- Competitive Advantage
- Financials
- Slide 16
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Business Model Canvas for Smart Home Security Start-UP
Value Proposition
The startup of the development of home security systems will provide customers with an innovative solution that aims towards using advanced Machine Learning and Artificial Intelligence algorithms for providing a high-end security infrastructure to their homes (Hariri et al., 2020).
The customer problem that has been targeted includes the threat of human error, cost affordability, and the issues associated with maintenance.
The problem of insufficient coverage of the home has also been taken into consideration in this startup business.
The expansion of the business is a crucial aspect which can be exapanded by making the start-up familiar within the market through the use of customer refferals and attending the different types of trade shows or events which can help in increasing the brand reach as well as the reputation.
The startup of the development of home security systems will provide customers with an innovative solution that aims towards using advanced Machine Learning and Artificial Intelligence algorithms for providing a high-end security infrastructure to their homes (Hariri et al., 2020).
The customer problem that has been targeted includes the threat of human error, cost affordability, and the issues associated with maintenance. The problem of insufficient coverage of the home has also been taken into consideration in this startup business.
2
Value Proposition
The security system will consist of a geofencing process and will consist of invisible systems for alerting whenever anything crosses the security areas.
AI will be used for managing the biometric concepts for recognizing the facial features within the homes (Hariri et al., 2020).
The target customers for this startup are renters, offices, homeowners, small business owners, or any public places that require a high level of innovative security.
Companies such as Arlo, Amazon’s Ring and the Google Nest develop simple and intelligent systems of home security with the help of updated technologies and innovations.
It is important to make the start-up different from them and so using the new cutting-edge abilities, user friendly methods within the reasonable prices is the way to stand out within the market competition.
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