Published on March 5, 2014
FarmSense Mobile Farm Management for Specialty Crops Interviews this week: 10 Total Interviews: 110 Christine Su Preeyanka Shah Brad Allen Jennifer Tsau
Final Video CLICK HERE FarmSense
We’ve come a long way! (Emphasis on LONG) • We started off with some bad ideas… That’s DUMB • And some REALLY BAD ideas… “Deere John Acting Troupe” • And some that were pretty good, but small.. FarmSense
But we knew that with a resilient, thoughtful team – we’d figure it out • Role: Cust Dev & Evangelist • Joint MBA-M.S. in Land Use and Agriculture • MS in Electrical Engineering (focus on machine learning and optimization) • Passionate about agriculture: worked on a family dairy to a $500m industrial grower, and three startups in the space Christine Su • Role: Cust Dev & Product Lead • Experience in web design, product design, and leadership development • Formerly an operations executive at KKR Preeyanka Shah • Prior roles with EnerNOC, a demand response company and Indicorps, a grassroots NGO in India • Role: Cust Dev & UX Architect • Role: Cust Dev & Long-Term Eye • MS in Civil Engineering (Atmosphere and Energy) • MBA • Experience in early stage start-ups and managing market release for products • Mechanical engineer with experience in computational/applied mechanics, and hardware design and prototyping Jennifer Tsau • 4 years in supply chain management with Northrop Grumman FarmSense Brad Allen • Formerly a chemical engineer, Bain consultant and Teach for America corps member
Starting out, we knew we wanted to marry technology and agriculture – but that’s about it + FarmSense =
So we got out of the building: FarmSense … and talked to a ton of folks
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. “ FarmSense 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
By Week 4, we felt confident in where we could work with farmers 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
And developed some hypotheses to reach our first customers Week 7 FarmSense
Get, Keep and Grow FarmSense
We have a differentiated perspective on GTM and development relationships in CA FarmSense
What do we need to build our product? Week 8 FarmSense
We have developed a plan to validate these hypotheses about the product & market FarmSense
We believe that with the right focus, we can have a sense of this idea’s potential in 6 months BMC Area Metric Value 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: $100 Lifetime Value: $2400 (2yr) Burn rate Burn rate / month: $2000 Months to run out: 12 FarmSense
Thank you • • • • • • • • • • • The hundreds of people Bob Garrow who we talked to and have Jorge Heraud given us insight, support, Steve Blank feedback and advice! Maura O’Neill Jeff Epstein Jim Hornthal Soumya Mohan Stephanie Zhan EE 245 Classmates Robert Trice Venture Studio Residents and Staff FarmSense
Week 1 FarmSense
Week 2 FarmSense
Week 3 FarmSense
Week 4 FarmSense
Week 5 FarmSense
Week 6 FarmSense
Week 7 FarmSense
Week 8 FarmSense
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