The coming week is going to be super busy as we need to do our 1 page investor summary sheet. Although it will be more or less just cut and paste of stuff we have already done, having to cut all our information down into one page is going to be tough as we only want to have whats relevant. We also need to work on our valuation still which is rather difficult as we don't sell a product, but a license to use our design. So creating realistic sale figures is extremely difficult and almost entirely guess work because we would ideally want GM or Ford (the big companies) to use our license, which is our goal, but we realize that is far off and unlikely. To convince lower level car companies or those who want our light to use our design will then be difficult because we need to convince them to cover the costs of manufacturing as we only deal with licensing and collecting a royalty for everyone they build. I've been pondering over our business model for weeks now and I think our previous way of selling an actual product would be easier as a start-up and especially for this assignment, but in the long run, a license model would be much more cost effective and would yield a greater potential.
It also looks like we won't be taking the successor class next semester and will be waiting a year as we want to take it as a team again, so hopefully that gives me/us time to mull over the idea/concept and figure out if we could legitimately get this idea off the ground.
No comments:
Post a Comment