business model, business model canvas, columbia, customer development, lean launchpad, lean startup, steve blank

1. SwapSki
1/17/20
Number of interviews conducted since last class: 12
Number of interviews conducted to date: 44

2. Evolution of our Value
Proposition
Day 1:
Our customers need the ability to access
a wide variety of luxury apparel without
spending an arm and a leg or killing the
environment via a peer-to-peer clothing
rental platform.
Day 5:
Our customers need the ability to rent ski
gear at an affordable price. They also
need the ability to rent their ski gear out
when not in use, or store it outside of
their apartment / house.

3. BMC Day 1
Company Vision & Values
Mission: give women the
ability to inspire each other
through fashion in an
environmentally conscious
way
Key Activities
Program the software
Develop network of
curators/clothiers
Develop network of dry
cleaning partners
Value Propositions
People always want to dress
in the latest trends, but this
is expensive and wasteful as
old clothes are thrown away
to make room for new
clothes. Teddy gives people
access to a variety of
different clothing options
(luxury, vintage, streetwear,
etc.) without having to pay
full price tag or feel bad
about throwing clothes away
Back-end data & analytics
will drive personalized
recommendations for users
to follow certain Curators /
trends
Customers will use Teddy to
access affordable, trendy
clothes and also keep their
closets light by renting out
to other users
Customer Relationships
Customer acquisition:
Google paid search
Ads (online + magazine)
Social media
Free trial
Growth:
Reference coupon
Owner coupon
Customer Segments
Demand-side customers:
Women
Aged 18-44
Environmentally conscious
Annual income of $50k+
Supply-side customers: social
media influencers
Key Partners
Dry cleaners / laundry
services - wash the clothes
after usage
Curators
Shipping service - need
prepaid labels to give to
users
Key Resources
Talent (engineers) to build
the platform
Channels
Word of mouth
Referrals - if you refer
another user you will get $$$
to spend on the app
Reach out to social media
influencers for social media
marketing
Dry cleaners - physical space
where clothes are dropped
off / picked up
Key Competitors
RTR holds central inventory,
whereas Teddy is peer-to-
peer and won’t have to
manage central inventory.
Tulerie & Wardrobe both
feature a marketplace
design, focusing less on the
communal aspect and more
on the searching for clothes.
Cost Structure
Variable costs (Cleaning & Shipping)
Fixed costs (Wages, SG&A, Marketing)
Revenue Streams
Clothes sharing business - Teddy receives a small percentage from each rental / sale
transaction (15% of transaction)

4. Day 1 Customer Feedback
“I’m concerned about the quality and cleanliness of peer-to-
peer clothing rental”
“I use Poshmark to get rid of cheaper things and make money.
I would be nervous to rent my stuff out to people for fear of
them ruining it”
“I would rent clothes from other people, especially if there
were luxury items. I wouldn’t rent my own clothes out
though”
Bottom line: quality, cleanliness, and affordability were the major concerns for
people when thinking about peer-to-peer clothing rental, but we needed more
data points to validate this

5. BMC Day 2
Company Vision & Values
Mission: give women the
ability to inspire each other
through fashion in an
environmentally conscious
way
Key Activities
Program the software
Develop network of
curators/clothiers
Develop network of dry
cleaning partners
Value Propositions
People always want to dress
in the latest trends, but this
is expensive and wasteful as
old clothes are thrown away
to make room for new
clothes. Teddy gives people
access to a variety of
different clothing options
(luxury, vintage, streetwear,
etc.) without having to pay
full price tag or feel bad
about throwing clothes away
Back-end data & analytics
will drive personalized
recommendations for users
to follow certain Curators /
trends
Customers will use Teddy to
access affordable, trendy
clothes and also keep their
closets light by renting out
to other users
Customer Relationships
Customer acquisition:
Google paid search
Ads (online + magazine)
Social media
Free trial
Growth:
Reference coupon
Owner coupon
Customer Segments
Demand-side customers:
Women
Aged 18-44
Environmentally conscious
Annual income of $50k+
Supply-side customers: social
media influencers
Key Partners
Dry cleaners / laundry
services - wash the clothes
after usage
Curators
Shipping service - need
prepaid labels to give to
users
Key Resources
Talent (engineers) to build
the platform
Channels
Word of mouth
Referrals - if you refer
another user you will get $$$
to spend on the app
Reach out to social media
influencers for social media
marketing
Dry cleaners - physical space
where clothes are dropped
off / picked up
Key Competitors
RTR holds central inventory,
whereas Teddy is peer-to-
peer and won’t have to
manage central inventory.
Tulerie & Wardrobe both
feature a marketplace
design, focusing less on the
communal aspect and more
on the searching for clothes.
Cost Structure
Variable costs (Cleaning & Shipping)
Fixed costs (Wages, SG&A, Marketing)
Revenue Streams
Clothes sharing business - Teddy receives a small percentage from each rental / sale
transaction (15% of transaction)

6. Day 2 Customer Feedback
“I had a negative experience selling my clothes on The
RealReal. I probably wouldn’t rent my clothes out because I’m
afraid of them getting damaged”
“Renting snowgear would be beneficial for me because my kids
want to ski but I’m not sure if they’ll stick with it; renting
jackets for them would save my wallet a couple hundred
bucks”
“I already borrow certain gear from my friends, like gloves;
being able to rent other equipment would be a game changer”
Bottom line: there doesn’t seem to be a need for peer-to-peer luxury clothing
rental (yet). However, there seems to be some interest in the skiwear category

7. BMC Day 3
Key Partners
Dry cleaners / laundry
services - wash the clothes
after usage
Curators
Shipping service - need
prepaid labels to give to
users
Alpine hotels
Key Activities
Program the software
Develop network of
curators/clothiers
Develop network of dry
cleaning partners
Develop relationships with
alpine hotels
Value Propositions
People always want to dress in the latest
trends, but this is expensive and wasteful as old
clothes are thrown away to make room for new
clothes. Teddy gives people access to a variety
of different clothing options (luxury, vintage,
streetwear, etc.) without having to pay full
price tag or feel bad about throwing clothes
away
Teddy gives beginner snowsport enthusiasts
access to high quality snowgear at a fraction of
its original price
Teddy gives snowsport enthusiasts of all skill
levels the ability to lighten their closets and
make money by renting their equipment out to
other users on the app
Community: build a complimentary content
platform for users to share snow sports content
Customer Relationships
Customer acquisition:
Google paid search
Ads (online + magazine)
Social media
Free trial
Growth:
Reference coupon
Owner coupon
Customer Segments
Demand-side customers:
Singular User:
Women & Men
Aged 18-44 18-45
Environmentally conscious
Annual income of $50k+
Beginner snowboarder / skier
Couples & Families:
Women & Men, aged 24+
May have kids (aged 12-17)
Annual income of $75k+
Beginner snowboarder / skier
Alpine Hotels that don’t have
ski gear shops
Supply-side customers: social
media influencers
Women & Men
Aged 18-45
Environmentally conscious
Have high quality snowgear that
is not in use
Want to make money without
permanently losing snowgear
Key Resources
Talent (engineers) to build
the platform
Channels
Word of mouth
Referrals
Alpine hotels
Dry cleaners - physical
space where clothes are
dropped off / picked up
Cost Structure
Variable costs (Cleaning & Shipping)
Fixed costs (Wages, SG&A, Marketing)
Revenue Streams
Clothes sharing business - Teddy receives a small percentage from each rental / sale transaction (15% of
transaction)

8. Day 3 Customer Feedback
“I’m comfortable renting my skigear out as opposed to
donating it, but I don’t want to manage the rental process; I’d
want a central system managing the process for me”
“If I rent my skigear out, I’d want to have visibility into the
gear at all times. In the case I go on a spontaneous trip, I’d
want to be able to recall my gear”
“I went snowboarding once, and had to buy all my gear. It cost
me so much. If I had known about a rental option, I’d have
used that instead”
Bottom line: skiing and snowboarding is expensive, and almost prohibitive for
beginners. We need more data around the storage component though

9. Key Partners
Dry cleaners / laundry
services - wash the clothes
after usage
Curators
Shipping service - need
prepaid labels to give to
users
Alpine hotels
Key Activities
Program the software
Develop network of
curators/clothiers
Develop network of dry
cleaning partners
Develop relationships with
alpine hotels
Find a storage facility
Value Propositions
People always want to dress in the latest
trends, but this is expensive and wasteful as old
clothes are thrown away to make room for new
clothes. Teddy gives people access to a variety
of different clothing options (luxury, vintage,
streetwear, etc.) without having to pay full
price tag or feel bad about throwing clothes
away
Teddy gives beginner snowsport enthusiasts
access to high quality snowgear at a fraction of
its original price
Teddy gives snowsport enthusiasts of all skill
levels the ability to lighten their closets and
make money by renting their equipment out to
other users on the app
Community: build a complimentary content
platform for users to share snow sports content
Teddy can store ski clothes / equipment during
the off-season
Customer Relationships
Customer acquisition:
Google paid search
Ads (online + magazine)
Social media
Free trial
Growth:
Reference coupon
Owner coupon
Customer Segments
Demand-side customers:
Singular User:
Women & Men
Aged 18-44 18-45
Environmentally conscious
Annual income of $50k+
Beginner snowboarder / skier
Couples & Families:
Women & Men, aged 24+
May have kids (aged 12-17)
Annual income of $75k+
Beginner snowboarder / skier
Alpine Hotels that don’t have
ski gear shops
Supply-side customers: social
media influencers
Women & Men
Aged 18-45
Environmentally conscious
Have high quality snowgear that
is not in use
Want to make money without
permanently losing snowgear
Key Resources
Talent (engineers) to build
the platform
Channels
Word of mouth
Online DTC site
www.swapski.net
Alpine hotels
Dry cleaners - physical
space where clothes are
dropped off / picked up
Cost Structure
Variable costs (Cleaning & Shipping)
Fixed costs (Wages, SG&A, Marketing, Rent)
Revenue Streams
Teddy receives a small percentage from each rental / sale transaction (15% of transaction)
Monthly storage costs for users storing their clothing or equipment
BMC Day 4

10. MVP: swapski.net (Day 1)

11. Key Partners
Dry cleaners / laundry
services - wash the clothes
after usage
Curators
Shipping service - need
prepaid labels to give to
users
Alpine hotels
Key Activities
Program the software
Develop network of
curators/clothiers
Develop network of dry
cleaning partners
Develop relationships with
alpine hotels
Find a storage facility
Value Propositions
People always want to dress in the latest
trends, but this is expensive and wasteful as old
clothes are thrown away to make room for new
clothes. Teddy gives people access to a variety
of different clothing options (luxury, vintage,
streetwear, etc.) without having to pay full
price tag or feel bad about throwing clothes
away
Teddy gives beginner snowsport enthusiasts
access to high quality snowgear at a fraction of
its original price
Teddy gives snowsport enthusiasts of all skill
levels the ability to lighten their closets and
make money by renting their equipment out to
other users on the app
Community: build a complimentary content
platform for users to share snow sports content
Teddy can store ski clothes / equipment during
the off-season
Customer Relationships
Customer acquisition:
Google paid search
Ads (online + magazine)
Social media
Free trial
Growth:
Reference coupon
Owner coupon
Customer Segments
Demand-side customers:
Singular User:
Women & Men
Aged 18-44 18-45
Environmentally conscious
Annual income of $50k+
Beginner snowboarder / skier
Couples & Families:
Women & Men, aged 24+
May have kids (aged 12-17)
Annual income of $75k+
Beginner snowboarder / skier
Alpine Hotels that don’t have
ski gear shops
Supply-side customers: social
media influencers
Women & Men
Aged 18-45
Environmentally conscious
Have high quality snowgear that
is not in use
Want to make money without
permanently losing snowgear
Key Resources
Talent (engineers) to build
the platform
Channels
Word of mouth
Online DTC site
www.swapski.net
Alpine hotels
Dry cleaners - physical
space where clothes are
dropped off / picked up
Cost Structure
Variable costs (Cleaning & Shipping)
Fixed costs (Wages, SG&A, Marketing, Rent)
Revenue Streams
Teddy receives a small percentage from each rental / sale transaction (15% of transaction)
Monthly storage costs for users storing their clothing or equipment
BMC Day 5

12. MVP: swapski.net (Day 2)

13. A/B testing w/ Facebook Ads
Ad for skigear storage serviceAd for renting your skigear outAd for renting skigear

14. A/B testing w/ Facebook Ads
Ad for skigear storage serviceAd for renting your skigear
out
Ad for renting skigear
Bottom line: the most popular service is renting skigear from others, with over
200 more views than the other two services.

15. Next Steps
Do more interviews and
online surveys focusing on
the topic of gear storage
Place more ads on different
social medias
Improve our MVP (add more
functionality via product
page) according to customer
feedback
Develop relationships with
alpine hotels
Find a storage facility