MoodFit—a crowdsourcing interior design startup : the processes of accelerating and pivoting to a viable business model -

Abstract

The startup project aimed to create a viable business that can efficiently serve an overshot segment of customers willing to decorate their apartment but who is unable to afford the traditional interior design service. The team applied the scientific approach of the lean startup method to create a viable business through putting a validation process for the development of his value proposition. The validation process was based on the feedback of prospective clients which allowed the team to understand the attractiveness of his value proposition. The team also studied the available alternatives and the potential competition to forecast the viability of the proposed solution. Three rounds of interviews were performed to validate the business model. On the first round, the team was able to validate the existence of the problem of “expensive interior design service” for the overshot segment. The second and third round of interviews allowed the team to pivot twice before building a Minimum Viable Product (MVP) to test the business model in his last version. The last version being a crowdsourced interior design service that is ten times cheaper that the traditional service. The last version of the MVP, showed traction proving the viability and profitability of the last business model which demonstrated the importance of the validation and pivoting process.