Jonathan Velasco
• Initial Idea: Vehicle Photography – To provide a mobile photography service for vehicle enthusiasts
• Target Market: The estimated size of my target market is 30,000 people in the Las Vegas Valley. I estimate that
I can reach out to 3,000 per year.
• Initial Value Propositions:
•
•
•
1. A cheaper way of providing professional pictures of personal vehicles
2. Offer the convenience of having a photographer come to the customer, to a location of their choice
3. Save customers from the pain of trying to take the perfect picture of their vehicle on their own.
• Initial Customer Segment Hypothesis:
•
•
•
•
1. Male and Female
2. Ages ranging from 18 to 55 years old
3. Are owners of Modified or Exotic vehicles
4. Vehicle enthusiasts
• Total People Interviewed: In the interview stage I reached out to 10 people
•
•
3 out of 10 were under the age of 30, the other 3 were over the age of 30
3 out of 10 were co-workers who are automotive technicians, the other 7 were met at car meets where I predicted to
find vehicle enthusiasts
• PASS/FAIL Experiments: Results from the interviews
•
•
•
For proposition one, 6 out of 10 indicated a pass. This was a pass for the proposition since at least 50% (my predicted
hypothesis) of the interviews showed interest in a personal vehicle photographer
For proposition two, 8 out of 10 indicated a pass. This was a pass for the proposition since at least 40% (my predicted
hypothesis) of the interviews showed interest in having a photographer come to them
For proposition three, 2 out of 10 indicated a pass. This was a fail for the proposition since not at least 40% (my
predicted hypothesis) of the interviews showed relief from having to take the perfect picture on their own
• Pivots Made:
•
•
Seeing that my third proposition of saving people from the pain of taking their own pictures didn’t pass, I decided to
drop that proposition from my BMC
Also since all 3 of the interviews that were older than 30 all showed interest in hiring a photographer, I decided to
move my focus from mainly young to a mixture of young and matured
• First Selling Test Round: Attempted to sell to 20 people
•
•
•
•
•
Total time spent is approximately 4 to 5 hours going to different meets to find vehicle enthusiasts and other locations
such as parking lots to find presumed non-vehicle enthusiasts with modified or exotic vehicles
To keep things even I tried to sell to 10 vehicle enthusiasts and 10 non-enthusiasts
5 females and 15 males, 2 of the 5 females were over 30, 8 out of the 15 males were over 30
3 out of 5 females were vehicle enthusiasts, 7 out of 15 males were vehicle enthusiasts
Sales: 3 out of the 20 people bought for the $40 fee, totaling $120
• PASS/FAIL Experiments: Hypotheses/Results
•
•
•
Those in my customer segment that are vehicle enthusiasts will be 80% more likely to hire me than those that are not
vehicle enthusiasts/Result: Fail, 2 out of the 3 that bought were not vehicle enthusiasts (sold to 10% of enthusiasts &
20% of non-enthusiasts)
Those in my customer segment that are over the age of 30 are 65% more likely to hire me than those that are under
the age of 30/Result: Fail, 1 out of 3 were over 30, sold to 10% of those over 30 and 20% to those under 30
Those in my customer segment that are male are 60% more likely to hire me than those that are female/Result: Fail,
mainly due to the ratio of male to female, sold to 13% of males and 20% of females
• Pivots Made:
•
I didn’t make any major pivots at this stage since I discovered that the reason I didn’t make that many sales was
because people wanted to see samples of my work, of which I had none. Therefore I decided to test the same
hypotheses in the next round of testing to see how they would stand up
• Second Selling Test Round: Attempted to sell to 8 people
•
•
•
•
•
Total time spent is approximately 2 to 3 hours going to one meet to find vehicle enthusiasts and other locations to find
non-vehicle enthusiasts. I had fewer free time in this round and by this point I only had one set of pictures to show my
work since I had not yet taken the other two clients’ photos
To keep things even again in this round I tried selling to 4 vehicle enthusiasts and 4 non-enthusiasts
4 females and 4 males, 2 out of the 4 females were over 30, 2 out of the 4 males were over 30 to test age
2 out of 4 females were vehicle enthusiasts, 2 out of the 4 males were vehicle enthusiasts
Sales: 3 out of the 8 people bought for $50, totaling $150 (Projected since at the time of this report I have yet to
complete these 3 new sales)
• PASS/FAIL Experiments: Hypotheses(adjusted)/Results
•
•
•
Those in my customer segment that are vehicle enthusiasts will be 70% more likely to hire me than those that are not
vehicle enthusiasts/Result: Pass, 3 out of the 8 that bought were vehicle enthusiasts (75% of enthusiasts & 0% of non)
Those in my customer segment that are over the age of 30 are 50% more likely to hire me than those that are under
the age of 30/Result: Pass, 2 out of 3 were over 30, sold to 50% of those over 30 and 25% to those under 30
Those in my customer segment that are male are 50% more likely to hire me than those that are female/Result: Pass, 2
out of the 3 were male, sold to 50% of the males and 25% of the females
• Pivots Made:
•
The results were positive in the second round even though the number of attempts was considerably fewer than the
first test. Although the pool was smaller in this round, the main benefit from this test is that I was able to see first hand
that having a portfolio is a booster for sales. Even to those that didn’t buy, having a portfolio was beneficial since some
mentioned that they might know someone who would be interested. For the time being, I think the only change I’ll
make is dropping the target age, from what I’ve found age is irrelevant to their interest of having their vehicles pictures
taken.
• Insights Gained:
•
I do believe there is potential for this business model. For 6-8 hours of testing, $270 is not terrible. Although I still have
yet to fulfill the most recent three sales, I can see how this can work for me if I only had more time. Going to school
and work full time leaves little to no room for customer acquisition let alone fulfilling photo shoots.
•
Interviews and testing have shown positive results such as selling to 3 out of the 4 vehicle enthusiasts in the second
round of testing. Also, there is no targeted age, which makes sense since vehicle enthusiasts come in all different ages.
It is safe to say a huge lesson I learned from the first test was that having a portfolio of your work is paramount to
getting sales, and I think the bigger it is the more clients I’ll get.
•
Selling to 3 out of the 8 attempted in the second round of testing is equal to 37.5%. If I am able to reach out to even
just half of the 3,000 that I estimated, I would possibly sell to 563 (1,500 * 0.375). That would come out to $28,150,
and even if I only made HALF of that I would still be making more than at my current job.
•
Is it worth my time? Absolutely. $270 for 10-12 hours (accounting for photoshoot and processing time) comes out to
about $27 to $22.50 per hour. Not only does it work financially, but this is worth my time because I enjoy doing
photography. Seeing as I only make $9.50 at my current job, I decided to resign at the end of this semester to pursue
this business model fulltime.