Revenue Streams

Announcements

• Dust or Magic in 2 weeks on Nov 3rd
• Midterm status reports due this week – please make sure you’re up-to-date on your Design Notebooks and Project Canvases
• Let’s talk about next semester
• Next week –  budgets & expenses

Design Notebooks

Let’s take a few minutes to review some of your Design Notebooks.

Links

• Sound Decision
• Junior UX Designer Pains: The First Job
• Gamify Your Home Water Use
• Amazon Robotics
• CS-NYC Education Meetup
• The Human Cloud: A New World of Work
• Food Waste Innovation: From Farm to Fork
• 15 Best Freelance Websites
• Food-X

Revenue Streams

Let’s take a look at the project canvas template.

1. Problem & Existing Alternatives
2. Customer Segments & Early Adopters (Target Audience)
3. Unique Value Proposition & High Level Concept
4. Solution
5. Channels
6. Revenue Streams – what’s in it for you?
7. Cost Structure
8. Key Metrics of Success
9. Unfair Advantage

What’s a revenue stream?

For our purposes, let’s think of this as any kind of remuneration for your efforts. This could be a job, an investor, a customer, happy parents, a good grade, etc.

Exercise

Take a few minutes to think about what you would like to get in return for all your efforts this semester and next developing your senior thesis.

• Make a list of everything you’d like to get in return for your project
• Order the list in terms of what’s most important to least important
• Try to assign a numeric value to each reward; i.e. if you hope to get a job out of it, how much should that job pay? Investors? How much investment are you looking for? Customers? How much should they pay you for your service?
• How can you find out what the going rates are for jobs in your field (hint: Glassdoor)? Looking for customers? How much do your existing alternatives charge for their services? Investors? How much money have your existing alternatives raised?

Assignment

Reading

Please read Junior UX Designer Pains: The First Job

Design Notebook

• Create a new slide in your Design Notebooks and title it “Dream Job”
• Write a brief paragraph describing your dream job – what would you be doing? Where would it be? Would you be working at a big company? A small company? Your own company?
• Create an account on Glassdoor.com
• Do a few searches on Glassdoor for job titles you’d like to have
• What’s the average salary for that job title in the location you’d like to work?
• Check out Money.com’s cost of living calculator
• Input the average salary figure you found on Glassdoor.com into the calculator along with your current city and the location of your dream job
• What’s the cost of living in that location?

Project Canvas

• Update your project Canvas with your list of things you hope to earn as a result of your Senior Thesis project