Deconstruct Your Business Model on a Lean Canvas: Google News Initiative Launch Lab Week Two Report

Hey there, it’s KK, and I’m back with an update on my second week at the Google News Initiative Launch Lab. This week has been all about refining my vision for MÖTLEYKRÜG Media, my new media company, and engaging with the community to shape its direction. Let’s dive into what I’ve been up to!

Introduction

First off, let me briefly introduce you to the project. MÖTLEYKRÜG Media is my brainchild, and it’s all about helping organizations, events, startups, and nonprofits build and engage their communities effectively. I believe in the power of visual storytelling and community engagement to achieve digital excellence, and that’s at the core of what MÖTLEYKRÜG Media offers.

But before I take the plunge into building this media company, I decided to take a step back and involve the community in the decision-making process. After all, it’s not just about what I think; it’s about what resonates with my audience.

Lean Canvas Worksheet

One of the big projects this week was working through the Lean Canvas Worksheet. For those not familiar, this is a business model worksheet that helps refine your unique proposition, target audience, and offering. It’s a fantastic tool to crystalize your ideas.

I’ve updated my Lean Canvas based on my insights from this week. Our unique value proposition is all about “Empowering Events and Organizations for Impactful Community Building.” We’re not just about event photography or social media management; we’re about using these as catalysts for community growth and digital engagement.

Community Engagement

Now, here’s where the magic happens—community engagement. I reached out to the community to gather their feedback. Professor Robert Scales, who’s a small business coaching consultant for the Government of Canada, was instrumental in guiding me through this process. His insights were invaluable.

I designed two surveys, one with 10 easy questions and another with 11 more in-depth questions for those who wanted to delve deeper. The results were enlightening, and I used AI to compare them to my Lean Canvas to validate my ideas. It’s incredible how technology can assist in this journey.

Findings and Insights

Summarizing the feedback, the community had some fantastic suggestions. They emphasized the need for comprehensive community-building services, exactly what MÖTLEYKRÜG Media aims to provide. They saw the potential in leveraging visual storytelling and community engagement to create lasting digital impact.

This feedback aligns perfectly with our mission and reinforces the direction we’re heading in. I also noticed some trends emerging, such as the importance of networking and partnerships in community building, which is something I’ve always championed.

Next Steps

So, what’s next? I’m taking this feedback and incorporating it into MÖTLEYKRÜG Media’s development. We’re going to continue to focus on photography as a mean to maximizing community growth and digital engagement, and we’re exploring opportunities like downloadable workshops and content sales as additional revenue streams.

Conclusion

In a nutshell, week two at the Google News Initiative Lab has been a whirlwind of ideas, feedback, and validation. I’m incredibly grateful for the support of the community and the guidance of Professor Scales. Together, we’re shaping MÖTLEYKRÜG Media into a force to be reckoned with in the world of community building and digital engagement.

Stay tuned for more updates on this exciting journey, and remember, it’s not just about the destination; it’s about the community we build along the way. Thanks for joining me on this ride!

Appendix: My MÖTLEYKRÜG Media Lean Canvas Worksheet Homework

• Problem: Organizations, particularly events and companies, are in need of comprehensive support to build and engage their communities effectively. They often allocate budgets for event photography or social media assistance, but these services are seen as a means to achieve a larger goal—community building and digital engagement.

• Solution: MÖTLEYKRÜG Media offers a unique suite of services designed to help events, companies, startups, nonprofits, and organizations of all sizes. These services include high-quality photos and videos, community engagement, and social media expertise. MÖTLEYKRÜG Media goes beyond traditional event photography or social media management, using these services as catalysts for community growth and digital engagement.

• Key Metrics: Measure success through community growth metrics, engagement rates across all platforms, customer satisfaction surveys, and feedback collection and analysis. Additionally, monitor the performance of revenue streams, including ticket sales, downloadable workshops, and content sales, to ensure sustainable growth.

• Unique Value Proposition: “Empowering Events and Organizations for Impactful Community Building: Leveraging Visual Storytelling and Community Engagement to Achieve Digital Excellence.” MÖTLEYKRÜG Media specializes in helping events and organizations use visual storytelling, community building, and social media to create lasting digital impact.

• Unfair Advantage: MÖTLEYKRÜG Media leverages Kris Krug’s extensive network and expertise to provide clients with unique access to industry experts and community-building strategies. This advantage extends to both events and organizations, allowing them to foster meaningful connections and partnerships.

• Channels: Our primary channels include our online platform, social media profiles, community partnerships, local events, and targeted online and offline marketing campaigns. Each channel is strategically utilized to amplify the impact of our services and drive community engagement.

• Customer Segments: MÖTLEYKRÜG Media serves a diverse range of customers, including events and organizations looking to build and engage communities. This includes events seeking event photography and community engagement, companies in need of social media support, and startups and nonprofits aiming to grow their digital presence.

• Cost Structure: Our major costs will be incurred in content production, platform development and maintenance, marketing and community engagement initiatives, personnel salaries, and organizing events. Each cost center will be meticulously managed to ensure value generation and financial sustainability.

• Revenue Streams: Revenue is primarily generated through services tailored to events and organizations, including event photography, community engagement, and social media expertise. Secondary revenue sources include ticket sales for quarterly photo trips abroad and the annual conference. The third revenue stream involves downloadable workshops and content sales.

Timeline & Follow-on Hypotheses:

• 0-3 months: Validate the demand for comprehensive community-building services among events and organizations. Establish key partnerships and initiate community building.
  • 4-6 months: Expand service offerings based on client feedback and engagement data. Focus on maximizing community growth and digital engagement.
  • 7-9 months: Optimize marketing strategies and explore opportunities to expand revenue streams, particularly in downloadable workshops and content.