business model, business model canvas, columbia, customer development, lean launchpad, lean startup, steve blank

1. • Number of interviews yesterday: 6/57
Kong Yu Ning Crystal Ong Selina Sia Daryl Chua
Developer Marketing Business
Development
User Experience
Designer

2. Itinerary Planning

3. One-Stop-Shop

4. Newsfeed

5. Travel Log

6. CS A
a. Suggested
and planned
itineraries
b. Convenience
of a booking
platform
CS B
a. Acquiring
larger
viewership
CS C
a. Outreach to
customers
b. Targeted
advertising
CS A
a. Technology
savvy,
travelers of all
age groups
CS B
a. Bloggers,
travel
planners,
tourism
boards
CS C
a. Businesses
(Airlines,
Restaurants,
Hotels)
Web and
mobile
application
CS A, B: Free/ Freemium
CS C: Transaction based, targeted
advertising
1. Platform Management and Development
a. IT Cost and software development
2. Marketing and advertisement cost
1. Bloggers,
travel
planners,
tourism
boards
2. VC whether
there is
interest
3. Specialized
content
providers with
access to
databases (4
square)
Acquire: Word of
mouth, referral plans,
advertisement
Keep: Some “sticky
features” journal log,
saved itineraries,
friends network
Grow: Network
Effect
1. Platform
Software UI &
Design
2. Customer
database
3. Attraction and
Business
database
1. Platform and
UI maintenance
& Development
2. Growing of
customer
database
3. Advertisement
and marketing
Wanderlust – Business Model Canvas Version 1.0

7. Wanderlust – Business Model Canvas Version 4.0
Key Partners Key Activities Value Propositions Customer
Relationships
Customer Segments
Key Resources Channels
Cost Structure Revenue Streams
Travelers
Social Traveller:
- Uses social media to
get recommendations
Meticulous Traveller:
- Needs planning to be
details and travel
logistics to settled
before trip
Laidback Traveller:
- Wants trip to be
largely planned for
them
Social Influencers and
Content Generators
Bloggers, travel
planners, tourism
boards
Established Players
(OTAs, tour operators,
DRPs)
Website
Connected through
social media sites
Mobile Application
Acquire: Advertising
(social media), Expert
advice, Content sharing
(influencers), word of
mouth & referrals
Keep: Wide selection of
itineraries, content
creation
Grow: Network Effect
Established & less establish players,
Government Alfiliates
Commission (CPA), Targeted
Advertising, Customer Insights
Travelers
Free
Travelers
Social Traveller:
- Ease of access to
social-media generated
travel content
- Ease of “flaunting”
travel experience
Meticulous Traveller:
- Saves the hassle of
coming up with a s
Laidback Traveller:
- Wants trip to be
largely planned for
them
Community Building
Customer acquisition,
facilitate social network
content creation
Platform
Web & Mobile App
development
Platform
database,
recommendation
engine, UI development
Platform
IT, software
development
Marketing
Advertisement,
customer capture
Customer Database
Service Enablers
Foursquare, Google
Maps, Yelp
Direct Sales
OTAs
Less Established
Players (OTAs, tour
operators, DRPs)
Government Affiliates
(Tourism Boards)
Established Players
- Traffic & Visibility
Less Established
- Traffic
Government Affiliates
- Traffic & visibility
Licensing
Payment gateways,
enablers

8. 2 – Value Proposition
1 – Customer Segmentation

9. The Social
Traveller
The Meticulous
Traveller
The Laidback
Traveller
Attribute Jemmy Crystal Johnson
Age 20 – 35 20 – 45 40 – 55
Income Middle - Upper Middle - Upper Middle – Upper
Preferred platform Online booking Online booking Online booking
Influenced by Social media & blogs Multiple online review
sites (eg. Tripadvisor)
Travel fairs,
sometimes online
Idiosyncrasies in
travel
Uses social media to get
travel recommendations
Strong desire to make sure
that itinerary is detailed,
and travel logistics are
settled before trip
Wants the planning
to be largely done for
them
Insights Gained
Unaware of travel space
and option (e.g. never
heard/ tried TripHobo,
Hipmunk etc)
Not necessarily tech-savvy
but were necessarily tech-
literate
Customers have varying travel
styles and rank travel woes
differently in terms of trip
planning, execution and
recollection
1A – Customer Segmentation (Travellers)

10. 2A – Value Proposition (Travellers)
Social Traveller
Value Proposition
Ease of access to social media
generated travel content
Ease of “flaunting” travel
experience
Meticulous Travellers
Gets detailed itinerary and
travel logistics booked
without the time and effort
associated with it
Laidback Travellers
Does not need to think or
research on places to go
Uses social media to get travel information
Insights Gained
Compulsive desire to ensure that itinerary is detailed,
and logistics are settled before trip
Customer Segments
(Travellers)
Loves to share travel adventures on social media Wants the planning to be largely done for them

11. Smaller agencies may
potentially generate greater
revenue as they are more
willing to work with a higher
commission in return for
visibility
Insights Gained
Businesses have different
motivations, number of
distribution channels and
profit margins
Travelers are price sensitive in terms of
big ticket/ small ticket items  need
DRPs, need more independent travel
agencies (local tours), direct booking
etc.
Attribute Established Players Less Established Players Government-Affiliates
Motivation: Lower customer
acquisition
Visibility Branding, Traffic & Visibility
Existing distribution
channels:
Many Few Few
Profit Margin: Low Medium High
1B – Customer Segmentation (Corporate)

12. 2B – Value Proposition (Corporate)
Established Players (OTAs,
DRPs, Large tour operators)
Value Proposition
Avenue to increase customer
traffic
Less Established Players
(OTAs, DRPs, Small tour
operators)
Leverage on billboard effect to
increase brand awareness &
visibility, which in turn garners
revenue
Government Affiliates
Has an avenue to outreach to
purely relevant target audience
Established players wants a cheaper avenue than
AdWords to acquire travellers
Insights Gained
Less established players need a way to be known by
travellers
Customer Segments
(Corporate)
Government affiliates wants to promote tourism in their country

13. 3 – Customers Relation

14. Majority (if not all) interviewees
use Facebook and other social
media sites.
Insights Gained
The reviews of friends and
“influencers” play an
important role in travel patterns
3 – Customer relation (“GET strategy”)

15. 4 – (Distribution) Channels

16. Majority, if not all, of the
interviewees use Facebook and
value the social network
community for content sharing and
information dissemination
Insights Gained
Direct sales is the best way to reach
both more and less established
players
TravelersTravel Industry Businesses
Travel
Information
Social Media/ Itinerary Content Generation
One-stop shop booking platformDirect Sales:
Commission
4 – (Distribution) Channels

17. 5 – Revenue Streams, Cost Structure

18. Wanderlust Website/App
Payment Companies
Users
OTAs
Tour Operations
DRP
OTAs
Tourism boards
DRP
Tour Operators
Transaction Cost
Booking & Content
Payment
Listings
Payment
from
Customers
Fees for
advertising
Service Enablers
Cost for database
provision
Others
User Data
Commission
Revenue
Commission:
Established players
OTA, DRP– 5%
Less established players
Independent Tour Operators– 20-
25%
Advertising:
Featured article: Market price
Sidebar advertisement: Market
price
User data: Market price
Cost
Service Enablers:
Googlemaps:
Web/ IOS/ Android
Tripadvisor:
partners
Annual License fees
Revenue Flow
Cost Flow
Value Flow
Traveller’s data is valued and can
be monetized
Insights Gained
Interviewees suggest using/ existing
competitors make use of: Advertising,
Commission, User data sales to generate revenue
Existing solutions/ having lived with
the problems makes customers
unwilling to pay for more “features”
5 – Revenue Streams, Cost Structure

19. 6 – Key Activities, Key Resources, Key Partners

20. 6 – Key Activities, Key Resources, Key Partners
App
Development &
UI Design
Key
Resources
Key
Activities
Key
Partners
Fundraising
Corporate
Partnership
Traveller
Acquisition
VC & Angel Investors
Traveller
Retention
Service Enablers Social Influencers
Wanderlust
App/Web
Salesforce Traveller Data Development Team

21. Key Insights – Business Perspective (Call with Travefy’s David)
•The service that we are providing them (increased traffic) is a lot cheaper
than customer acquisition cost via other medium
#1. OTAs and service
enablers want to work
with us (5% commission)
•Initial thought: Better revenue stream due to low bargaining power +
greater incentive for them to work with us
•Insight: This may not be a good idea because it is extremely time
consuming (e.g. TripAdvisor provides listing GLOBALLY, but we need many
independent ones just to cover ONE location)
#2. It might not be a
good idea to start with
less established
companies
•Use to build our MVP  Test our target market segment
#3. APIs tend to be free
(or easily-accessible/
low-cost) APIs
•Need to ensure stickiness, frequency, repeatability
#4. Cost of customer
acquisition is high ($10-
$50/ customer)

22. Large Tour Operators
• Industry leaders in tours market
• Large extensive network of tours across different
geographical spaces
• Want to increase distribution channels
Online Travel Agents (OTAs)
• Online booking platform for travel needs
• Cater to hotel/flight bookings and bundled itineraries
• Want to increase distribution channels and increase
sales (one way through increasing referral traffic to
booking platform)
Dining Reservation Platforms
• Aggregator of businesses in the restaurant industry
• Want to increase distribution channels for restaurant
reservation platform
Revenue Potential
Traffic Potential
Small Independent Tour Operators
• Local presence
• Need visibility and market share
Tourism Boards
• Promote tourism to country, government
sponsored
• Sponsored advertising, featured destinations
• Revenue Stream: Advertising, customer insights
Customer Potential Matrix

23. Wanderlust – Business Model Canvas Version 5.0
Key Partners Key Activities Value Propositions Customer
Relationships
Customer Segments
Key Resources Channels
Cost Structure Revenue Streams
Travelers
Social Traveller:
- Uses social media to
get recommendations
Meticulous Traveller:
- Needs planning to be
details and travel
logistics to settled
before trip
Laidback Traveller:
- Wants trip to be
largely planned for
them
Social Influencers and
Content Generators
Bloggers, travel
planners
Established Players
(OTAs, tour operators,
DRPs)
Website
Connected through
social media sites
Mobile Application
Acquire: Advertising
(social media), Expert
advice, Content sharing
(influencers), word of
mouth & referrals
Keep: Wide selection of
itineraries, content
creation
Grow: Network Effect
Established & less establish players,
Government Affiliates
Commission (OTAs: 5% CPA), Targeted
Advertising, Customer Insights
Travelers
Free
Travelers
Social Traveller:
- Ease of access to
social-media generated
travel content
- Ease of “flaunting”
travel experience
Meticulous Traveller:
- Saves the hassle of
coming up with a s
Laidback Traveller:
- Wants trip to be
largely planned for
them
Community Building
Customer acquisition,
customer retention
Platform
Web & Mobile App
development
Platform
App development & UI
design
Platform
IT, software
development
Marketing
Advertisement,
customer capture
Customer Database
Service Enablers
Foursquare, Google
Maps
Direct Sales
OTAs
Less Established
Players (OTAs, tour
operators, DRPs)
Government Affiliates
(Tourism Boards)
Established Players
- Lower customer
acquisition cost
Less Established
- Traffic
Government Affiliates
- Traffic & visibility
Licensing
Payment gateways,
enablers
Fundraising
VC & Angel Investors
Development Team
Sales Force

24. Moving Forward
Step 5
Development &
Testing
Develop application using
agile methodology, and
iteratively improve
usability & feature via
user testing & customer
feedbacks
Step 4
Fundraising
Seek to raise fund from
VCs & angel investors to
begin development
Step 3
Talks to Partners
Seek to establish
partnerships with
OTAs & tourism boards
Step 2
Improve MVP
Refine MVP based on
customer insights
Step 1
Customer
Development
Validate & Prioritize
customer segment
Step 6
Beta Testing
Conduct beta testing to
iron out all usability
issues and bugs

25. Appendices

26. Market: Existing market
Type of business: End-to-end digital travel management start-up
Market & Competition

27. CS A
a. Suggested
and planned
itineraries
b. Convenience
of a booking
platform
CS B
a. Acquiring
larger
viewership
CS C
a. Outreach to
customers
b. Targeted
advertising
CS A
a. Technology
savvy,
travelers of all
age groups
CS B
a. Bloggers,
travel
planners,
tourism
boards
CS C
a. Businesses
(Airlines,
Restaurants,
Hotels)
Web and
mobile
application
CS A, B: Free/ Freemium
CS C: Transaction based, targeted
advertising
1. Platform Management and Development
a. IT Cost and software development
2. Marketing and advertisement cost
1. Bloggers,
travel
planners,
tourism
boards
2. VC whether
there is
interest
3. Specialized
content
providers with
access to
databases (4
square)
Acquire: Word of
mouth, referral plans,
advertisement
Keep: Some “sticky
features” journal log,
saved itineraries,
friends network
Grow: Network
Effect
1. Platform
Software UI &
Design
2. Customer
database
3. Attraction and
Business
database
1. Platform and
UI maintenance
& Development
2. Growing of
customer
database
3. Advertisement
and marketing
Wanderlust – Business Model Canvas Version 1.0

28. Wanderlust – Business Model Canvas Version 2.0
Key Partners Key Activities Value Propositions Customer
Relationships
Customer Segments
Key Resources Channels
Cost Structure Revenue Streams
Travelers
Tech savvy, all age
groups
Tech literate, non-travel
savvy, free & easy
travelers age 20 – 55
Social Influencers and
Content Generators
Bloggers, travel
planners, tourism
boards
Travel Industry
Businesses
Online Travel Agents
(OTAs), Restaurants,
Attractions
Website
Connected through
social media sites
Mobile Application
Acquire: Social media
content sharing, word
of mouth, referrals,
advertisement
Keep: Wide selection of
itineraries, content
creation
Grow: Network Effect
Travel Industry Businesses
Commission (CPA),
Targeted Advertising
Travelers
Freemium Free
Travelers
- End-to-end travel
experience
- Community based
social interaction
platform
Travel Industry
Businesses
- Outreach to
customers
- Targeted advertising
Community Building
Customer acquisition,
facilitate social network
content creation
Platform
Web & Mobiel App
development
Platform
database,
recommendation
engine, UI development
Platform
IT, software
development
Marketing
Advertisement,
customer capture
Database
- Customer
- Attractions &
Businesses
Service Enablers
Foursquare, Google
Maps, Yelp

29. Wanderlust – Business Model Canvas Version 3.0
Key Partners Key Activities Value Propositions Customer
Relationships
Customer Segments
Key Resources Channels
Cost Structure Revenue Streams
Travelers
Tech literate, non-travel
savvy, free & easy
travelers age 20 – 55
Social Influencers and
Content Generators
Bloggers, travel
planners, tourism
boards
Online Travel Agents
(OTA)
Website
Connected through
social media sites
Mobile Application
Acquire: Social media
content sharing, word
of mouth, referrals,
advertisement
Keep: Wide selection of
itineraries, content
creation
Grow: Network Effect
Online Travel Agents/Small
Businesses
Commission (CPA), Targeted
Advertising, Customer Insights
Travelers
Free
Travelers
- End-to-end travel
experience &
convenience
Pre-trip: Automatic
itinerary generation
& community based
itineraries , one-stop
shop booking
platform
During trip: Readily
available travel
information
Post-trip: Memory
preservation, ease of
sharing
- Community based
social interaction
Online Travel Agents/
Small Businesses
- Access to customers
- Targeted advertising
Community Building
Customer acquisition,
facilitate social network
content creation
Platform
Web & Mobile App
development
Platform
database,
recommendation
engine, UI development
Platform
IT, software
development
Marketing
Advertisement,
customer capture
Customer Database
Service Enablers
Foursquare, Google
Maps, Yelp
Direct Sales
OTAs
Small Businesses
Independent tour
operators, restaurants,
attractions

30. Wanderlust – Business Model Canvas Version 4.0
Key Partners Key Activities Value Propositions Customer
Relationships
Customer Segments
Key Resources Channels
Cost Structure Revenue Streams
Travelers
Social Traveller:
- Uses social media to
get recommendations
Meticulous Traveller:
- Needs planning to be
details and travel
logistics to settled
before trip
Laidback Traveller:
- Wants trip to be
largely planned for
them
Social Influencers and
Content Generators
Bloggers, travel
planners, tourism
boards
Established Players
(OTAs, tour operators,
DRPs)
Website
Connected through
social media sites
Mobile Application
Acquire: Advertising
(social media), Expert
advice, Content sharing
(influencers), word of
mouth & referrals
Keep: Wide selection of
itineraries, content
creation
Grow: Network Effect
Established & less establish players,
Government Alfiliates
Commission (CPA), Targeted
Advertising, Customer Insights
Travelers
Free
Travelers
Social Traveller:
- Ease of access to
social-media generated
travel content
- Ease of “flaunting”
travel experience
Meticulous Traveller:
- Saves the hassle of
coming up with a s
Laidback Traveller:
- Wants trip to be
largely planned for
them
Community Building
Customer acquisition,
facilitate social network
content creation
Platform
Web & Mobile App
development
Platform
database,
recommendation
engine, UI development
Platform
IT, software
development
Marketing
Advertisement,
customer capture
Customer Database
Service Enablers
Foursquare, Google
Maps, Yelp
Direct Sales
OTAs
Less Established
Players (OTAs, tour
operators, DRPs)
Government Affiliates
(Tourism Boards)
Established Players
- Traffic & Visibility
Less Established
- Traffic
Government Affiliates
- Traffic & visibility
Licensing
Payment gateways,
enablers

31. Wanderlust – Business Model Canvas Version 5.0
Key Partners Key Activities Value Propositions Customer
Relationships
Customer Segments
Key Resources Channels
Cost Structure Revenue Streams
Travelers
Social Traveller:
- Uses social media to
get recommendations
Meticulous Traveller:
- Needs planning to be
details and travel
logistics to settled
before trip
Laidback Traveller:
- Wants trip to be
largely planned for
them
Social Influencers and
Content Generators
Bloggers, travel
planners
Established Players
(OTAs, tour operators,
DRPs)
Website
Connected through
social media sites
Mobile Application
Acquire: Advertising
(social media), Expert
advice, Content sharing
(influencers), word of
mouth & referrals
Keep: Wide selection of
itineraries, content
creation
Grow: Network Effect
Established & less establish players,
Government Affiliates
Commission (OTAs: 5% CPA), Targeted
Advertising, Customer Insights
Travelers
Free
Travelers
Social Traveller:
- Ease of access to
social-media generated
travel content
- Ease of “flaunting”
travel experience
Meticulous Traveller:
- Saves the hassle of
coming up with a s
Laidback Traveller:
- Wants trip to be
largely planned for
them
Community Building
Customer acquisition,
customer retention
Platform
Web & Mobile App
development
Platform
App development & UI
design
Platform
IT, software
development
Marketing
Advertisement,
customer capture
Customer Database
Service Enablers
Foursquare, Google
Maps
Direct Sales
OTAs
Less Established
Players (OTAs, tour
operators, DRPs)
Government Affiliates
(Tourism Boards)
Established Players
- Lower customer
acquisition cost
Less Established
- Traffic
Government Affiliates
- Traffic & visibility
Licensing
Payment gateways,
enablers
Fundraising
VC & Angel Investors
Development Team
Sales Force