After reflecting on the business model canvas assignment my conclusion is that Elvis and I limited ourselves to the outline given to us. Specifically, we limited ourselves to the business model canvas and didn’t reach beyond observation and interpretation.
The business model canvas is a great tool to initially analyze a business. I’ve recently used it to asses three different companies and I have found it to be very useful. I believe that “tool” is the correct word to use when describing the canvas as it is merely a stepping stone – not the end goal. Elvis and I spent time a lot of time writing down specific observations of the SunnyTrail business model. This process was completed with a personal interview and follow-up email with Octav, one of the founders. Elvis and I then made some interpretations on our own but we did not discuss these with Octav. We failed to go beyond this point to record opportunities. Elvis and I had discussed opportunities for SunnyTrail however we did not formally present them. We didn’t think this was “in the scope of the project” so we decided to stick with the rubric and didn’t want to offend Octav.
**Nice little rant that isn’t necessary for the reflection** The mentality of doing exactly what is asked of you is very pervasive in university and I think that is wrong. “How do I get an A? I want a set guideline.” Is voiced by many students in class. It’s a shame that there isn’t more ambiguity in university courses, after all – life is not predictable so I don’t know what educators are preparing us for. This assignment was a nice reminder to reach beyond the guidelines of the paper even if I’m unsure of the consequences.
On a separate note, I really enjoyed working with startups. All too often in Sauder, we work with a client that doesn’t really care, or isn’t even real. This was an opportunity to truely make an impact for a company. I loved hearing about all of the different ventures and the personal stories of the CEOs. The young founders and companies were very easy to relate to and I imagined what it would be like to personally start each of the companies. This assignment helped solidify a personal suspicion I’ve had for awhile – I want to be an entrepreneur 🙂
In conclusion, the business model experience with SunnyTrail was positive. I believe that the founders of SunnyTrail are design thinkers (based on Tim Brown’s article). They use the principles of design to innovate and add value. The founders are constantly iterating and have a very human-centered approach. I believe that they are striving to satisfy both a need and a desire with SunnyTrail and I think their creative approach will bring them great success.
I’m so glad you found your calling! You’ve got all the qualities necessary to be a great entrepreneur. Couple that with a passion for creating a new venture and your fundamental b-school knowledge and you’re good to go. Best of luck out there.
I completely agree – the ambiguity of the assignment, whether intended or unintended, really ended up being a great learning experience. I’m sure that we all felt that the assignment was lacking in a solid deliverable for the client – I remember discussing with my team member about what actually was the point of us regurgitating what the client had told us, just in a different visual format? We briefly explored what our client could do moving forward given the structure of their business, but never actually formed or fully explored possibilities. However, in the real world, we are never privy to all the details and to compete with others, need to always be at least thinking about going beyond the ask to show how we are a valuable asset to our company. It was a learning experience for me and as I reflect upon it, won’t be surprised the next time ambiguity comes up in an assignment!