Project Everest

Adopted Experiment

[Feb 19] Retailers Systems (Revenue Streams) - Fuel Fiji

Lean Phase: Revenue Streams

Assumption: Retailer can order, purchase and collect the Buka Dragon as a part of our autonomous business model.

Time Box: 2 Weeks

Key Metrics:

  • Number of MOUs signed by retailers.
  • Number of stoves purchased by retailers following 1 month trial
  • Percentage of retailers obtaining stoves to stock

Green Light

Retailers are deemed a viable revenue stream for the business model

Obtain more partnerships with retailers and scale up

Success Point

  • 5 or more MOUs signed with retailers.
  • Retailers collectively purchasing 10 or more stoves in the 2nd month, following the 1 month trial in accordance with MOU
  • 100% of retailers obtaining their stoves and stocking them

Orange Light - Optimise

  • Continue search for potential retailers across Fiji
  • Streamline stove payment system through further empathising with retailers
  • Raise interest and awareness in retailer purchases through marketing
  • Streamline stove delivery system through communication with the manufacturer and retailer

Failure Point

  • Less than 2 MOUs signed with retailers.
  • Less than 5 stoves ordered and purchased by retailers in the 2nd month, following the 1 month trial.
  • 40% or less of retailers obtaining their stoves and stocking them

Red Light - Failure Protocol

Determine alternative distribution channel revenue stream. Possible considerations include:

  • More effort given to sales agents channel
  • Door to door delivery of Buka Stoves

 

Experiment Build:

Background

The latest MOU for retailers to stock the Buka Dragon includes details of a 1 month trial of stocking a pair of Buka Dragons. Based on the performance of the stoves within the retailer the store may choose to make an order in the subsequent month. An invoice will then be sent to the retailer covering the pair of trialled stoves as well. Options are included for trial system are included in the linked MOU.

Steps

1. Communicate with existing Buka stove retailers to pitch new MOU to stock Buka Dragon.

2. Search for potential retailers through research of varying hubs in Fiji such as Sigatoka, Nadi and Suva. This extends to hardware stores, grocery stores and other potential retailers.

3. Gauge interest by meeting with and speaking to leadership figures from potential retailers.

4. Present and pitch MOUs with willing retailers. Ensure that a solid line of contact can be established through email for future ordering and invoicing.

5. Deliver the first 2 stoves to each retailer and await results.

edited on 20th February 2019, 21:02 by Harry O'Donnell

Haziq Ahmed 7 months ago

Status label added: Proposed Experiment

Reply 0

Haziq Ahmed 7 months ago

Status label added: Experiment adopted

Status label removed: Proposed Experiment

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