Week Reflection

The past week we pivoted our business model canvas as we have decided to change our channel.  Essentially we have changed our entire model as we are not selling a product anymore, but rather we are going to license the technology out to companies who will then build the product and use it them selves.  This lowers our costs as we won't have to prototype anything other than create a design which we can do on a computer.  It is also much more scale-able as we don't have to solely rely on truckers, we can target auto manufactures like Ford and Chevy.

What we need to work on in the near future is check government regulations and safety acts to see what we'll have to abide by.  As well, continue to work on customer feedback (now that we've changed our decision, we'll have to work even harder as our market has potentially grown).

With all this said, it was our meeting with Ian that ultimately changed our decision to license our product/change our channel.  Our meetings have continued to improve our product and change the way we have gone about our BMC.  I personally think our current BMC with the channel change is our best ever as it potentially reduces our work load with creating a working prototype.  Licensing our product also gives us a sustained money flow with minimal effort on our part.

In the week to come we'll focus on our new BMC and continue to at least try and get a prototype going.