Project Everest

Proposed Experiment

[Proposed Experiment] Revenue Stream - Business to Business Partnerships - FarmEd December 2019

by
Isabelle Lance
Isabelle Lance | 3 months ago | in FarmEd - Fiji

Lean Phase: Revenue stream

 

Assumption: Businesses are willing to partner with FarmEd and will pay a commission in exchange for FarmEd recommending their supplies. 

 

Time Box: 1 month 

 

Key Metrics: The number of positive outcomes received indicating a willingness to partner with FarmEd.

 

Gold: Signed agreement with full or partial payment.

Silver: Signed MoU without payment but an intention to form partnership

Bronze: Set up future meetings with an intention to form partnership

 

Success point: 

Formal partnerships: ≥2 

Expressions of interest: ≥4

 

Green light:

  • Continue to expand this revenue stream
  • Explore partnerships with other businesses, e.g. online chemical stores; other types of agricultural equipment

Orange light range: 

Formal partnerships: 1

 Expressions of interest: 2-3

 

Orange light:

  • Reevaluate pitching technique
  • Explore other possibilities for partnerships

Failure point: 

Formal partnerships: none 

Expressions of interest: ≤1

 

Red light:

  • Address the stakeholders’ underlying concerns that may cause the lack of willingness to partner with FarmEd
  • Explore other avenues for generating revenue
  • Use gathered data and feedback to guide future development of the solution

 

Experiment build:

Pre-encounter

  • Select chemical stores that stock pesticides, herbicides and fungicides nearby to Sigatoka, focusing on stores previously visited in July 2019 that expressed interest in developing a partnership with FarmEd
  • Verify that the business has competition in the area and would be interested in a partnership
  • Practice pitching FarmEd in a more formal business setting, emphasising what we have to offer businesses and why it is a beneficial opportunity for them. 

Encounter

  • Visit businesses in-person and pitch PEV, the FarmEd service, and the possibilities for partnerships
  • Provide a demonstration of the Facebook service (or application)
  • Record minutes and any additional information that may be informative to the development of the application
  • Have businesses sign MoUs or organise new meetings
  • Build rapport/good relations

Post-encounter

  • Implement any agreements reached
  • Fill in minutes to HubSpot for each meeting
  • Follow up and thank you emails
  • Inform the business of any developments of the MVP and continue future communication

Eugenia Muñoz 3 months ago

Status label added: Proposed Experiment

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