This work is the written version of a ptich desk for the course Entrepreneurial project. Different tools like the scenario scratching, market analysis, SWOT analysis, lean start-up method, canvas map have been utilised to make this pitch desk.
Table of Contents
THE PROBLEM
ALTERNATIVE SOLUTIONS
OUR SOLUTION
BUSINESS VALUE AND ARCHITECTURE
THE VALUE PROPOSITION
TESTING THE MVP
PERSONA CARDS
CONCLUSION
MARKET EXISTING AND EVALUATION
COMPETITIVE ADVANTAGES
KEY COMPETENCIES AND THEIR RELATION TO THE SUCCESSFULNESS
BUSINESS MODEL CANVAS
MARKETING AND SALES
MARKETING ACTIONS AND MEASURES TO SUPPORT SALES
FINANCIAL STRUCTURE
REVENUE STREAM
CUSTOMER SEGMENTS AND CORRESPONDING PRICES
REVENUE STREAMS IN DETAIL
COST ESTIMATION
FINANCIAL REQUIREMENTS
CONCLUSION AND DEMAND
Objectives and Topics
The primary objective of this project is to develop a comprehensive mobile application and web platform that connects users with personal stylists to improve their fashion sense and boost self-confidence. By addressing gaps in existing market solutions, the startup aims to provide a tailored, interactive experience that integrates expert advice with community-driven fashion insights.
- Provision of personal stylist services accessible 24/7.
- Cooperation with universities and bloggers to source expert fashion designers.
- Cultural advice and context-specific styling recommendations.
- A freemium-based business model with tiered subscription and ticket systems.
- Creation of a community-based social hub for fashion enthusiasts.
Excerpt from the Book
The problem
Many people do not have a good sense of how to match their clothes for a specific occasion like a date, business meeting or just for going for some drinks after work. For example, when you google “badly dressed people” you will get around 9,000,000 results including discussion forums in which people ask for advice. To illustrate this problem regard the following example.
Case:
A young man opened a chat in which he asked which of his clothes he should wear for his date. But as the picture on the right shows this is not just only a boy‘s problem, it’s also a girl‘s problem (she wanted to go out with her boyfriend).
Summary of Chapters
THE PROBLEM: This chapter highlights the common difficulty individuals face when coordinating outfits for various occasions and identifies the lack of personalized advice in current fashion apps.
ALTERNATIVE SOLUTIONS: An analysis of current market leaders like Stylebook, Closet+, and Stylicious, identifying their commonalities and missing features that constitute the startup's unique selling points.
OUR SOLUTION: Details the proposed app functionality, including the business and value architecture and the user flow for connecting users with personal stylists.
BUSINESS VALUE AND ARCHITECTURE: Illustrates the operational model and interactions between universities, stylists, and the platform.
THE VALUE PROPOSITION: Explains how the service addresses specific customer pain points through constant accessibility and expert styling.
TESTING THE MVP: Describes the development of a prototype and the testing process among potential customers to validate features.
PERSONA CARDS: Presents user profiles tested during the development phase to understand student and young professional needs.
MARKET EXISTING AND EVALUATION: Evaluates the target market in Nantes, France, and provides an analysis of fashion's economic importance.
COMPETITIVE ADVANTAGES: Outlines the unique selling points, including career opportunities for designers and flexible membership options.
KEY COMPETENCIES AND THEIR RELATION TO THE SUCCESSFULNESS: Discusses the core strategic capabilities required to ensure the startup's long-term success.
BUSINESS MODEL CANVAS: Provides a comprehensive overview of the business structure, including partners, activities, and financial streams.
MARKETING AND SALES: Defines strategies for reaching different user segments through advertising, PR, and community events.
FINANCIAL STRUCTURE: Details the revenue models, cost estimations, and the three-year financial forecast for the startup.
CONCLUSION AND DEMAND: Summarizes the startup's benefits and issues a call to action for potential investors.
Keywords
Stylist, Personal Styling, Fashion App, Startup, Nantes, Business Plan, Entrepreneurial Project, Market Analysis, Financial Forecast, User Experience, MVP, Fashion Designers, Subscription Model, Community Hub, Style Advice.
Frequently Asked Questions
What is the core purpose of this business project?
The project is a startup proposal for a fashion app designed to help users dress appropriately for any occasion by connecting them with personal, human stylists 24/7.
What are the central themes of the document?
The main themes include fashion technology, market validation, user-centered service design, competitive strategy, and detailed financial planning for a tech startup.
What is the primary research goal of the work?
The goal is to prove that there is a market vacuum for affordable, accessible, and personalized styling services that go beyond simple wardrobe organization.
Which scientific or business methodologies were applied?
The founders utilized market analysis, persona development, Minimum Viable Product (MVP) testing, and the Business Model Canvas framework to structure their venture.
What topics are covered in the main section of the plan?
The main body covers market evaluation in France, competitor analysis, revenue modeling, cost structures, and specific marketing strategies tailored to different student and professional demographics.
How would you describe the target audience using keywords?
The target audience is best characterized by: students, young professionals, fashion-conscious individuals, mobile users, and community-driven consumers.
Why did the founders focus on Nantes for their pilot project?
Nantes was chosen due to its prestigious design schools, which serve as a primary source for recruiting student stylists, and the general cultural importance of fashion in France.
How does the "Freemium" model work in this application?
Users receive the first month for free to access all features, after which they can transition to a paid subscription or use a ticket-based system for individual outfit advice.
What is the role of university alliances in the business?
Universities provide a talent pool of design students who act as stylists, gaining practical experience and professional exposure in exchange for the startup's platform access.
- Quote paper
- Anonym (Author), 2016, Written Pitch Desk for the Start-up "Stylist", Munich, GRIN Verlag, https://www.hausarbeiten.de/document/366922
