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Creating Your Own Venture: Bird Rides Inc.
Coursework Instructions:
SHORT FORM START-UP QUESTIONNAIRE/OUTLINE“New Venture: XYZ – XX/YY/21**Even if you don’t have the perfect name yet, you need a name as a placeholder**Specific information required includes bios for key members of the team, preliminary financial projections, and a business vision, a mission statement based on the goals and heart of the business. Below is. Suggested outline – don’t get stuck if you don’t know how to answer a particular question today. This is a living document that will grow with you as you further develop your start-up idea.
D) Marketing Strategy
1) Advertising
2) Promotion
3) Public relations
4) Media programs
5) Loyalty programs
6) VIP programs
SECtION I. THE MAGIC OF THE VISION
A) Compan1) Business purpose2) Objectives3) History4) Legal structure5) Management structure6) Organizational structure7) OwnershipB) Products or Services1) General description2) Specific aspects of the business3) Proprietary position or ideas unique to XXX Busines4) Management policies and proceduresC) Competitive Advantages1) Management team strengths2) Market opportunity3) Product/service uniqueness and sustainability4) The business modelD) Operational Strategy1) Operational plans2) Strategic partners3) How do you plan to grow the business—what are the short term and long term revenue streams?E) Organizational Structure1) Now, one year, two, etc to support the growth plan2) Organizational ChartSECTION II. THE MARKETResearch, comprehension, and selection of the target industry, market, and customer: (1) Is their growing demand for XXX? Is the market large, growing, and fragmented? (2) Does YYY’s management (yes, that’s you) understand who the customer is and have you created a business strategy to attract them (the customer) in the different target markets? and (3) Does YYY’s management team have a solid plan to capture and maintain significant market share while facing intense competition – everyone assumes that since this is a new and innovative idea, that there is no competition. There is always competition, and there is always someone thinking about what you are thinking about in another room, in another city, somewhere else. The goal is to get going and get to market before they do, or if it is after they do, do a better job of it.Key market sectionsA) Industry Overview and by Geographic Region1) Description2) Structure3) Size of targeted industry and marketsB) ustomers1) Description2 Segmentation3) Size of targeted and future customer groupsC) Competition1) Current and potential competitors, including their positioning and advantagesD) Marketing Strategy
1) Advertising
2) Promotion
3) Public relations
4) Media programs
5) Loyalty programs
6) VIP programs
SECTION III. THE MONEY
Sound and proven assumptions, the company's valuation (yes, this is a challenge to figure out), and YYY’s prospects for a significant Return on Investment.
Keymoney sections:
A) Revenue Models
1) Pricing assumptions
2) Volume assumptions and revenue streams
B) Financial Statements: 3 to 5 years of key historical (only if you have been working on this for a while) and projected statements of income, statements of cash flow, and balance sheets. Start simple and build.
C) Previous Financing: amount and timing of any investments and the type of provider – friends, family and fools or have you raised some professional investor money, like an angel investor?
D) Company Valuation: How much is the business worth? How was this valuation determined?
E) Caital Requirements: amount of capital required for existing and future business opportunities.
F) Uses of Funds: distribution of required capital. How do you plan on spending the $__ you are trying to raise? Investors want to know how, in detail, you plan on spending the funds they are investing in you.
G) Exit Strategy: description and timeframe of probable liquidity event, such sale of the business, recapitalization, paying dividends to investors, etc.
SECTION IV. MANAGEMENT
Is the YYY management team PASSIONATE, PARANOID, PREPARED, able to PERSEVERE, and do they PLAN for the good, the bad and the ugly (financial and legal environment, public relations, zoning, etc.)?
Key management sections:
A) Executive Officers/Senior Managers/Key Personnel: professional and academic experience (School of Hard Knocks is HIGHLY valuable)
B) Board of Directors/Advisory Board: experienced, diverse, and active.
C) Future Staffing: expansion and succession plans for key staff.
D) Business Plan Executive Summary will contain the following:
(1) Description of the Company
(2) Description of the Opportunity
(3) Introduction to the XXX Industr
(4) What is Unique About the YYY Approach
(5) How Does YYY Make Money?
(6) How Does YYY Pick Target Customers or Decide How to Expand?
(7) Competition in the Target Markets
(8) Management Team
(9) How Much Capital Is Needed to Generate an Acceptable Return on Investment
Coursework Sample Content Preview:
SHORT FORM START-UP QUESTIONNAIRE/OUTLINE
“New Venture: Bird Rides Inc.
**Even if you don’t have the perfect name yet, you need a name as a placeholder**
Specific information required includes bios for key members of the team, preliminary financial projections, and a business vision, a mission statement based on the goals and heart of the business. Below is. Suggested outline – don’t get stuck if you don’t know how to answer a particular question today. This is a living document that will grow with you as you further develop your start-up idea.
SECTION I. THE MAGIC OF THE VISION
Company
Business purpose
Bird Rides Inc. is a micro-mobility company in Santa Monica, California. It is a last-mile electric vehicle company committed to offering affordable and environmentally-friendly transportation solutions to all communities across the world. Depending on whether it is commuting across towns or connecting to the subway, bus, or light rail, Bird offers people ways of doing so that do not pollute the environment through the air like ordinary vehicles. This reduces global climate changes and traffic on roads.
Objectives
The objective of the company is to offer environment-friendly and affordable transport solutions to everyone across the globe. It aims at giving people affordable and convenient options to stop using cars for specific short trips.
History
The company was started in September 2017 and operated across more than a hundred cities in the Middle East, North America, and Europe. It was founded by Travis VanderZanden, who was a former executive at Uber and Lyft. It started with series A in February 2018, which raised approximately $15 million, and series B in the following month, which raised over $100 million. By June, the value of the company was already at $2 billion and had more than 10 million rides by September of the same year. In October that year, the company introduced the Bird Zero car, which offered more battery life for longer spans and increased visibility with better lighting. The vehicle is also more durable compared to other vehicles. The Bird Platform was introduced in November 2018 based on the mobile app of the company and the Bird Zero vehicles that permitted independent company operators to use the infrastructure of the company to run their personal branded fleet of electric scooters. From there, the company has been progressing by introducing innovative products to enhance environment-friendly transportation.
Legal structure
On the legal structure, the company faced great opposition from local leaders at the start. Most legal advisors thought that the company was associated with great legal regulation before taking on its operations. However, with time, the company gained legal documentation for operation from various offices. The major legal documents include the PCI Compliance, Non-Discrimination Policy Acknowledgement, Non-Collusion Affidavit, Indemnification and Insurance Agreement, Insurance Document, and Oak Initiative Disclosure Form. Bird is also proud to be the first micro-mobility signatory of the United Nations Global Compact. This is a worldwide movement that enhances the alignment of company strategies and activities with the universal human rights principles, environment, anti-corruption, and labor.
Management structure
The management of the operation in the company is run by the Chief Executive Officer, Travis VanderZanden, who is also the CEEO of Bird Holdings. He assigns duties to other executives below him who including the Chief Financial Officer, Yibo Ling, Tim Harter, the Senior Manager of Government Relations, Jason Islas, the Public Affairs Associate, Carl Hansen the Director of Government Affairs and Dave Estrada, the Chief Legal Officer and Head of Public Policy. There are other company associates who operate individual electric and branded scooters. The company has other employees who foresee the maintenance of the scooters and other products from the company.
Organizational structure
Bird Rides, Inc. company complies with state and local laws as stated in the legal structure. The company corporates with most municipalities to generate rules guiding public shared mobility operations. The company has not yet developed an organizational chart that can be published. However, the organization of the company runs from the Board of Management to the CEO, Deputy CEO, Chief officers than to the managers. Other employees are to ensure smooth operations of the company and maintenance of equipment.
Ownership
Bird is a publicly-traded company owned by Travis, who is also the CEO. It is a profitable company run under a limited liability structure. The CEO manages the company with the help of other Chief Officers and managers. The company invites stakeholders to follow the high profits it makes.
Products or Services
General description
Birds Rides deals with electronic scooters and Bird Zero vehicles. The Scooters are rented out using the company mobile app. The company also made the Bird One, a scooter that can be purchased and shared. The company owns the Bird Cruiser, which is an electric vehicle blend between a moped and a bicycle. There is also a Bird Two, an improvement of Bird One, with improved battery life and capacity.
Specific aspects of the business
The specific aspects of this business include the rented electric scooters, purchased Bird One and Two, and the individual Bird Zero vehicles. Most companies have purchased electric scooters for their individual use.
Proprietary position or ideas unique to XXX Business
The unique ideas of this company are the environment-friendly scooters and vehicles that do not have emissions that pollute the air. Their scooters are also more durable and have long battery life. The vehicles have better visibility, increased lifespan, and are more comfortable. Practically, the company seeks to offer convenient transport between places and reduce emissions. It also reduces traffic on roads by reducing the use of personal cars.
Management policies and procedures
Private contractors charge the scooters, the gig workers, who sign up to be chargers. The company outstations the approved chargers to charge the equipment and pays them to charge the scooters overnight at the various service areas. The money paid to independent contractors for charging the scooters is determined by the duration the scooter has been away in the street.
Competitive Advantages
Management team strengths
The company majorly competes with American Lime and Scoot Networks. However, the management has ensured the uniqueness of its equipment and gone to the extent of purchasing some of the companies such as the Scoot Networks and Skip Scooters.
Market opportunity
The company has a readily available market since it is dock-less and is available across the streets to help anyone transiting across cities. This is one factor that the company takes advantage of, where anyone walking down the street can spot a scooter and decide to rent for quicker transport.
Product/service uniqueness and sustainability
The company products are unique due to the lack of emissions. The company also offers protection gear and guidelines for use for those stuck on the proper usage. The Bird mobile app makes it easier to rent and pay for the scooter and vehicles without having to go to the main station. The scooters can also be shared and have long battery life.
The business model
The business model adopted by this company is that of direct interaction with the customers. The customers have to use the mobile app to rent a scooter and pay for the time spent with it. There are fixed charges for the time spent with a scooter in all locations. The company also pays for the chargers at the different locations.
Operational Strategy
Operational plans
The operational structure entails basically renting out the scooters and other equipment desired by the customer in the mobile app.
Strategic partners
The company has partnered with various developed companies such as Sequoia capital and CDPQ, which provide most of its funding. Other partners include Index Ventures and Valor Equity Partners.
How do you plan to grow the business—what are the short-term and long-term revenue streams?
The short-term revenue streams are the charges from rented scooters and vehicles, while the long-term revenues are from large organizations purchasing the company’s products, such as the Bird Zero vehicle. Some large organizations, such as the United Nations, often appreciate such environment-friendly innovations and may fund them to develop more equipment.
Organizational Structure
Now, one year, two, etc. to support the growth plan
The company is growing, and so is the organizational structure. Within another year, the company will need to have more employees to be chargers and probably more managers in the various locations of the world.
Organizational Chart
Updated on
“New Venture: Bird Rides Inc.
**Even if you don’t have the perfect name yet, you need a name as a placeholder**
Specific information required includes bios for key members of the team, preliminary financial projections, and a business vision, a mission statement based on the goals and heart of the business. Below is. Suggested outline – don’t get stuck if you don’t know how to answer a particular question today. This is a living document that will grow with you as you further develop your start-up idea.
SECTION I. THE MAGIC OF THE VISION
Company
Business purpose
Bird Rides Inc. is a micro-mobility company in Santa Monica, California. It is a last-mile electric vehicle company committed to offering affordable and environmentally-friendly transportation solutions to all communities across the world. Depending on whether it is commuting across towns or connecting to the subway, bus, or light rail, Bird offers people ways of doing so that do not pollute the environment through the air like ordinary vehicles. This reduces global climate changes and traffic on roads.
Objectives
The objective of the company is to offer environment-friendly and affordable transport solutions to everyone across the globe. It aims at giving people affordable and convenient options to stop using cars for specific short trips.
History
The company was started in September 2017 and operated across more than a hundred cities in the Middle East, North America, and Europe. It was founded by Travis VanderZanden, who was a former executive at Uber and Lyft. It started with series A in February 2018, which raised approximately $15 million, and series B in the following month, which raised over $100 million. By June, the value of the company was already at $2 billion and had more than 10 million rides by September of the same year. In October that year, the company introduced the Bird Zero car, which offered more battery life for longer spans and increased visibility with better lighting. The vehicle is also more durable compared to other vehicles. The Bird Platform was introduced in November 2018 based on the mobile app of the company and the Bird Zero vehicles that permitted independent company operators to use the infrastructure of the company to run their personal branded fleet of electric scooters. From there, the company has been progressing by introducing innovative products to enhance environment-friendly transportation.
Legal structure
On the legal structure, the company faced great opposition from local leaders at the start. Most legal advisors thought that the company was associated with great legal regulation before taking on its operations. However, with time, the company gained legal documentation for operation from various offices. The major legal documents include the PCI Compliance, Non-Discrimination Policy Acknowledgement, Non-Collusion Affidavit, Indemnification and Insurance Agreement, Insurance Document, and Oak Initiative Disclosure Form. Bird is also proud to be the first micro-mobility signatory of the United Nations Global Compact. This is a worldwide movement that enhances the alignment of company strategies and activities with the universal human rights principles, environment, anti-corruption, and labor.
Management structure
The management of the operation in the company is run by the Chief Executive Officer, Travis VanderZanden, who is also the CEEO of Bird Holdings. He assigns duties to other executives below him who including the Chief Financial Officer, Yibo Ling, Tim Harter, the Senior Manager of Government Relations, Jason Islas, the Public Affairs Associate, Carl Hansen the Director of Government Affairs and Dave Estrada, the Chief Legal Officer and Head of Public Policy. There are other company associates who operate individual electric and branded scooters. The company has other employees who foresee the maintenance of the scooters and other products from the company.
Organizational structure
Bird Rides, Inc. company complies with state and local laws as stated in the legal structure. The company corporates with most municipalities to generate rules guiding public shared mobility operations. The company has not yet developed an organizational chart that can be published. However, the organization of the company runs from the Board of Management to the CEO, Deputy CEO, Chief officers than to the managers. Other employees are to ensure smooth operations of the company and maintenance of equipment.
Ownership
Bird is a publicly-traded company owned by Travis, who is also the CEO. It is a profitable company run under a limited liability structure. The CEO manages the company with the help of other Chief Officers and managers. The company invites stakeholders to follow the high profits it makes.
Products or Services
General description
Birds Rides deals with electronic scooters and Bird Zero vehicles. The Scooters are rented out using the company mobile app. The company also made the Bird One, a scooter that can be purchased and shared. The company owns the Bird Cruiser, which is an electric vehicle blend between a moped and a bicycle. There is also a Bird Two, an improvement of Bird One, with improved battery life and capacity.
Specific aspects of the business
The specific aspects of this business include the rented electric scooters, purchased Bird One and Two, and the individual Bird Zero vehicles. Most companies have purchased electric scooters for their individual use.
Proprietary position or ideas unique to XXX Business
The unique ideas of this company are the environment-friendly scooters and vehicles that do not have emissions that pollute the air. Their scooters are also more durable and have long battery life. The vehicles have better visibility, increased lifespan, and are more comfortable. Practically, the company seeks to offer convenient transport between places and reduce emissions. It also reduces traffic on roads by reducing the use of personal cars.
Management policies and procedures
Private contractors charge the scooters, the gig workers, who sign up to be chargers. The company outstations the approved chargers to charge the equipment and pays them to charge the scooters overnight at the various service areas. The money paid to independent contractors for charging the scooters is determined by the duration the scooter has been away in the street.
Competitive Advantages
Management team strengths
The company majorly competes with American Lime and Scoot Networks. However, the management has ensured the uniqueness of its equipment and gone to the extent of purchasing some of the companies such as the Scoot Networks and Skip Scooters.
Market opportunity
The company has a readily available market since it is dock-less and is available across the streets to help anyone transiting across cities. This is one factor that the company takes advantage of, where anyone walking down the street can spot a scooter and decide to rent for quicker transport.
Product/service uniqueness and sustainability
The company products are unique due to the lack of emissions. The company also offers protection gear and guidelines for use for those stuck on the proper usage. The Bird mobile app makes it easier to rent and pay for the scooter and vehicles without having to go to the main station. The scooters can also be shared and have long battery life.
The business model
The business model adopted by this company is that of direct interaction with the customers. The customers have to use the mobile app to rent a scooter and pay for the time spent with it. There are fixed charges for the time spent with a scooter in all locations. The company also pays for the chargers at the different locations.
Operational Strategy
Operational plans
The operational structure entails basically renting out the scooters and other equipment desired by the customer in the mobile app.
Strategic partners
The company has partnered with various developed companies such as Sequoia capital and CDPQ, which provide most of its funding. Other partners include Index Ventures and Valor Equity Partners.
How do you plan to grow the business—what are the short-term and long-term revenue streams?
The short-term revenue streams are the charges from rented scooters and vehicles, while the long-term revenues are from large organizations purchasing the company’s products, such as the Bird Zero vehicle. Some large organizations, such as the United Nations, often appreciate such environment-friendly innovations and may fund them to develop more equipment.
Organizational Structure
Now, one year, two, etc. to support the growth plan
The company is growing, and so is the organizational structure. Within another year, the company will need to have more employees to be chargers and probably more managers in the various locations of the world.
Organizational Chart
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