NearbyNow: Hands-On Product Feasibility Analysis

1. Case 3 NearbyNow: Hands-On Product Feasibility Analysis Innovation and Entrepreneurship 2nd October 2013

2. Group 4 Members Mirek Kysely MA1N0228 Jose Miguel Flores Diaz MA1N0227 Isabell Glück MA1N0246 Dacia Tucker MA1N0209

3. Case Introduction Identifying the business idea • In mid-2006, after a trip to Mall with his wife, Scott Dunlap came up with the idea to create a search engine for Malls. • This search engine would serve as a database where shoppers can go online to see if a product is available and where they can buy it at the cheapest price.

4. Case Introduction Turning Idea into Opportunity • Dunlap was an entrepreneur in residence at Redpoint Ventures. • Venture capital firm that specializes in first-round investments in internet and broadband start-ups. • He launched his start-up and named the venture “NearbyNow”.

5. Case Introduction How NearbyNow works

6. Discussion Question 1 Concept Statement for NearbyNow • Write a concept statement for NearbyNow. If NearbyNow was still in the start-up stage and Scott Dunlap asked you who he should distribute the concept statement to, what would you have told him?

7. Discussion Question 1 Concept Statement for NearbyNow

8. Discussion Question 1 Concept Statement for NearbyNow

9. Discussion Question 1 Concept Statement for NearbyNow

10. Discussion Question 2 Gumshoe research • What types of gumshoe research did Dunlap benefit from, and what additional gumshoe research could he have conducted while he was investigating the feasibility of NearbyNow?

11. Discussion Question 2 Gumshoe research • Dunlop sat on a stool outside a mall and offered incentives for response. • He could have canvassed the communities and conducted surveys.

12. Discussion Question 3 Conducting feasibility analysis • Did you know that the majority of malls in the United States are owned by six companies? If now, how might you have discovered this information if you were conducting feasibility analysis for a product or service that would be place in malls?

13. Discussion Question 3 Conducting feasibility analysis • Corporate Registry Websites • Department of State, New York • http://www.dos.ny.gov/ • US Department of Commerce • http://www.bea.gov/

14. Discussion Question 3 Conducting feasibility analysis • Business reports • Bloomberg • http://www.bloomberg.com/markets/companies/country/usa/ • Business review USA • http://www.businessreviewusa.com/ • The Wall Street Journal • http://asia.wsj.com/home-page

15. Discussion Question 4 First Screen Analysis • Complete a First Screen analysis for NearbyNow. What do you learn from the analysis?

16. 4 3 4 5 Key 4-5 high potential 2-3 moderate potential 1 low potential 2 18

17. Discussion Question 4 First Screen Analysis • Summary; • Strength: business takes advantage of environmental strengths (use of technological advances), timely. • Industry-Related Issues: strong growth rate, operating margins can be high.

18. Discussion Question 4 First Screen Analysis • Summary; • Target Market issue: clearly identified, growth potential. • Founder related issues: experienced, skilled, knowledgeable, team has been identified. • Financial issues: more than one revenue drivers, financial performances of similar businesses is strong.

19. THANK YOU!