This thesis explores the viability of the creation of a board game café in downtown Phoenix that would donate a percentage of its profits to local charities and other initiatives for the improvement of the Phoenix area. Using a combination of different entrepreneurship and business model templates, fourteen questions were answered to complete the business model, including questions about resources and partnerships necessary for the venture’s success in addition to what the cost structure and revenue streams would look like. These fourteen questions make up the fourteen different parts of the Lean Launch Business Model Canvas, the template primarily used for the display of the final business model. The business model canvas undergoes “cycles” – that is, different drafts of the canvas are created and added to or modified as needed. This particular business model canvas underwent as many as 15 cycles before becoming finalized and receiving approval.
The completion of the business model canvas invites speculation about its actual viability, bringing up questions about financing, projected sales, and the length of the venture’s future. “Pivots,” modifications of the business model to either increase revenue or decrease costs, are also explored at this point. While this particular business idea does have a sustainable competitive advantage in the Phoenix area as a first mover, it would be unwise to pursue the idea further, as the costs are far too high and the required activities far too numerous to outweigh the revenues and benefits. In addition, it would be difficult to obtain funding at a reasonable interest rate for a venture with such a high risk of failure. In this case, a pivot was considered that eliminated nearly all costs and risk, while still relying on a very similar revenue stream. This pivot suggested a far simpler and more economical way of accomplishing the original goal of bettering the Phoenix metro community and giving customers the chance to rediscover in-person communication.
Through the use of Arizona State University’s Founders Lab, our group of four Barrett, the Honors College Students completed a research thesis regarding the interest of college students in a sleep light technology product. The National Aeronautics and Space Administration (NASA) pioneered a sleep light technology with the ability to regulate melatonin production and circadian rhythm, resulting in an improvement of sleep quality. The technology was originally invented for astronauts to improve their sleep while in space on a spacecraft. Utilizing this technology, our group performed extensive market research with the intention of determining if college students would be interested in purchasing a consumer product incorporating the sleep light technology. We created a brand called Rhythm Illumination and began by building a website and brand guide. Next, we utilized Google Forms to generate responses to a variety of questions regarding current sleep habits, current sleep problems, and whether or not there was interest in a product like this. After determining that college students have room for sleep quality improvement and there is interest in this kind of product, we worked towards our goal of gaining traction for the product. We decided to utilize both Google Analytics results and a Zoom event’s attendance as proof of interest in our product. Google Analytics revealed over one hundred unique users on our Rhythm Illumination website. We also had eleven event attendees. Between these two tools, our team was able to conclude that there is interest among college students for a consumer product utilizing NASA’s sleep light technology