In this session, we'll think about how we solve our customers' needs and how we find those who will be willing to pay for our product. We'll have to consider how much value we bring to the table, who our core customers actually are, and think about our competition.
Join an interactive discussion to learn how these Rice ECE alumni took an idea for cutting-edge technology into the market and built ROLM into a Fortune 500 company ultimately acquired by IBM.
In this session, we'll figure out how to build a sustainable business model for an innovative product. We'll go over some common business models common to various industries, and think about the pros and cons of each. We'll identify key parts of the business model such as pricing frameworks, Customer Lifetime Value, and Cost of Customer Acquisition, as well as give you a chance to practice these calculations on either your own idea or one of our pre-selected ideas.
In this session, we'll start by identifying key assumptions about our business, then identifying ways to test those key assumptions to ensure our long-term success. Once we test these and adjust as needed, we'll need to think about how to create a minimum viable product to put some money in our pockets and to start the customer feedback loop. We'll be joined by real-world product managers whose sole focus is to continuously iterate on product design and feature sets.
