farm sense e245 march 2014 final
Post on 20-Aug-2015
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FarmSense
Interviews this week: 10Total Interviews: 110
ChristineSu
Preeyanka Shah BradAllen
JenniferTsau
Mobile Farm Management for Specialty Crops
FarmSense
Final Video
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FarmSense
We’ve come a long way! (Emphasis on LONG)
• We started off with some bad ideas…
• And some REALLY BAD ideas…
That’s DUMB
• And some that were pretty good, but small..
“Deere John Acting Troupe”
FarmSense
But we knew that with a resilient, thoughtful team – we’d figure it out
ChristineSu
Preeyanka Shah
BradAllen
JenniferTsau
• Role: Cust Dev & Evangelist
• Joint MBA-M.S. in Land Use and Agriculture
• Passionate about agriculture: worked on a family dairy to a $500m industrial grower, and three startups in the space
• Formerly an operations executive at KKR
• Role: Cust Dev & UX Architect
• MS in Civil Engineering (Atmosphere and Energy)
• Mechanical engineer with experience in computational/applied mechanics, and hardware design and prototyping
• 4 years in supply chain management with Northrop Grumman
• Role: Cust Dev & Product Lead
• MS in Electrical Engineering (focus on machine learning and optimization)
• Experience in web design, product design, and leadership development
• Prior roles with EnerNOC, a demand response company and Indicorps, a grassroots NGO in India
• Role: Cust Dev & Long-Term Eye
• MBA
• Experience in early stage start-ups and managing market release for products
• Formerly a chemical engineer, Bain consultant and Teach for America corps member
FarmSense
Starting out, we knew we wanted to marry technology and agriculture – but that’s about it
+ =
FarmSense
And gained a greater appreciation for farmers and what they value
Ron Yakota from TA Produce told us “The issue is there is no real good
ag accounting software out there. We use JD
Edwards and have to do a lot of our own
customization. It’s not taken lightly when you want to change a field size or add a field. We have our own software engineers who do the
modification. JD Edwards is old and has very little
support. “
The pickup truck is their office and they need
mobile solutions for farm management
- Sarai from Earthbound Farm: “The guys fill out the data on laptops in
their pickups”
- Dave from Blossom Hill Ranch wants activity recording from his
pickup onto his phone
- Doniga from Markegard Ranch does management from her pick up truck
FarmSense
Honing in on MVP idea and initial features
MVP Features based on early adopter input (and validated
by other customer interviews)
DEMO
FarmSense
But we still needed to understand how to reach farmers and demonstrate value
… so we got out of the building
FarmSense
We believe that with the right focus, we can have a sense of this idea’s potential in 6 months
BMC Area MetricValue Proposition Price: $100/month
Competitor charge: $70-100
Customer Relationships Web CAC / CPC: $56 / $0.91 # new customers / PCA: 10# new PCAs/month: 4# new customers/month: 40 PCA + 10 web
Operating Costs Fixed• $5,000-10,000 mobile + web
app• 50k/yr each for 3 in-house
developers Variable: • 5% PCA referral commission• $500 a month for web
marketing
Revenue ASP: $100Lifetime Value: $2400 (2yr)
Burn rate Burn rate / month: $2000Months to run out: 12
FarmSense
Thank you
• Bob Garrow• Jorge Heraud • Steve Blank• Maura O’Neill• Jeff Epstein• Jim Hornthal• Soumya Mohan• Stephanie Zhan• EE 245 Classmates• Robert Trice• Venture Studio Residents and Staff
The hundreds of people who we talked to and have given us insight, support, feedback and advice!
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