CHIA-YU CHEN
Client Profile
Industry / Electronic Parts and Components Manufacturing
Year / 2020
Background
The client began by producing high-precision mechanical components and has evolved into an engineering and manufacturing services firm. Their current revenue almost comes from medical and life science clients in US and Japan, providing components and module design, manufacturing. Current business is facing competitors from emerging markets, so the client is looking to extend its business into high-value services to help its key clients innovate better.
Business Challenge
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The client has two new business models in US and Japan market, they need to find a way to evaluate business viability to determine which one is worth to pursue. The client anticipates new business model recommendation.
Win stakeholder's support to the new business model.
Solution
Design and deliver a workshop which help the client evaluate business model, and then comes out validation plan.
Training of online collaboration tools and vertual war room.
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STAGE
Problem-solution fit
Have evidence that customers care about certain jobs, pains, and gains.
Designed a value proposition that addresses those jobs, pains and gains.
Product-market fit
Have evidence that your products and services, pain relievers, and gain creators are actually creating customer value and getting traction in the market.
Business Model Fit
Have evidence that your value proposition can be embedded in a profitable and scalable business model
The scope of this project
SPRINT 1
Training online collaboration tools and virtual room
Understand current
business situation
GAMIFICATION
Purpose:
To let client understand online tool - MIRO
in a good user experience.
In order to make sure the meeting went well, and the client understood how to use online collaboration tools,
I design a 15 minutes exercise for the client to get familiar with the online tool function.
Feedback including "Interesting", "Like google map game", "Convenient", "Good interaction".
Then 100% client don't have problem of operating online tools.
UNDERSTAND CURRENT SITUATION
SPRINT 2
Explore new
business options
BRAINSTORM
In this print stage, the most important thing is to brainstorm lots of ideas, then chose three ideas for business model options.
SPRINT 3
Assess the maturity of each business options
Evaluate three
business model
EVALUATE CAPABILITY
Business Model A
Business Model B
Business Model C
All team members evaluate each business model and tell other people the reason why they put the strength/weak/uncertain sign.
EVALUATE FEASIBILITY
Then all team members evaluate the feasibility of three business model and rank them.
SPRINT 4
Validate plan
EVALUATE INVESTMENT READINESS
In order to find out the status quo of the company, we use investment readiness level canvas to evaluate each business model.
CREATE VALIDATE PLAN
The last step is to help the client construct validate plan so that they can validate business model assumption.