Unicorn Academy Intro

STTE Foundation

EXPERIENCE

LEARNING IN THE METAVERSE

Welcome to Unicorn Academy, entrepreneurship education in the metaverse. We will teach you the Lean Business Model Canvas and show how leading brands use the canvas in their business. Open your camera on your phone, tablet, or laptop, scan the QR code below, and select allow to enter experience into the metaverse.

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ALLOW & ENTER EXPERIENCE

INTRODUCING THE

LEAN BUSINESS MODEL CANVAS

BMC EXAMPLE

Learn how the business model's nine building blocks will help you shape what you think you may know and discover what your customers want. Start by thinking about what customers you want to target and what problems they have that you attempt to solve.

Let's look at an example lean business model canvas of a top brand. This will help you start to think about what it takes to create yours.

EXPERIENCE

LEARNING IN THE METAVERSE

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ALLOW & ENTER EXPERIENCE

LETS GET STARTED LEARNING HOW TO BUILD YOUR MVP! Minimum Viable Product

WATCH MORE VIDEOS ON EACH OF THE NINE LEAN BUSINESS MODEL BLOCKS AT: sttefoundation.org/unicorn-academy

"YOU HAVE TO LEARN INDUSTRY FIRST.YOU HAVE TO WORK FOR IT. YOU HAVE TO EARN IT." Gesunia Legasby

GESUNIA LEGASBY OWNER GAL FASHION

PASSION FOR FASHION Gesunia Legasby is the owner of Gal Fashion in El Paso, Texas. GAL Fashion offers a high-end boutique experience and an extensive online selection of contemporary and designer clothing and accessories.

Gesunia's young entrepreneurial journey began at 18 when only after being super persistent was she hired as an intern at the only fashion boutique selling high-end luxury retail apparel. Then, after seven years of learning the business like the back of her hand, she decided to take a risk and do her own thing by opening her store, Gal Fashion.

Gesunia was living the dream, and business was booming! Then one day, not knowing a global pandemic was on the horizon, Gesunia went to Italy and pre-ordered all her purchases for the year. Can you imagine being around the top designers in the world?

COVID struck and impacted her business dramatically. Gesunia's customers were not buying $800 gowns or $500 shoes anymore.

During the hard times, Gesunia focused on uniting the local business community. She would buy and spend locally. Her goal was by supporting local entrepreneurs, everyone could learn from one another.

After successfully keeping her business alive post-pandemic, Gesunia is not focused on growing multiple stores but rather the best store. Her aspiration drives her to be the Sak Fifth of El Paso, sell more prominent brands, and have one amazing store. Gesunia enjoys dressing celebrities and has no plans to stop growing her brand.

Did you know Augmented Reality is influencing the fashion industry?

Try on this interactive outfit!

Can you think of a cool outfit to design in AR?

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ETHICS IN BUSINESS:

Cara was starting a business making jewelry to sell at the farmer’s market and to stores in town. She knew she needed money to get things going and buy enough materials to create inventory, but wasn’t sure her savings were going to be enough.

She asked her parents if she could borrow $2,000 to start her business and promised to pay them back as soon as she could. They loved her and thought she was doing a great thing by starting a business, so they said yes and gave her $2,000. However, they did want to make sure she kept her promise and asked her to pay them $100 a month for the next 20 months.

At first she was doing great in her business and she was able to make some money. She had done a great job of keeping her expenses low and had regular orders from three different stores to supply them with unique pieces of jewelry. Within two months, she had made $500 in profit.

She had paid her parents the $200 for those two months.

The third month was a little bit harder. Not as many pieces were being sold from the stores and she had been unable to go to the farmer’s market two weeks in a row. She only made $50 that month. She still had her savings that was able to carry her through the month, but since she hadn’t made even $100 that month, she decided not to pay her parents the $100 she had agreed to.

The fourth month was somewhat better, and she made $120. But if she were to pay her parents back the $100 she owed them from the previous month, plus another $100 for this month, she would have nothing left for herself. She decided to keep the money this time. Besides, Christmas was right around the corner and she expected to sell a lot of jewelry and make up all the money she owed her parents and then some.

Over the two months of November and December, Cara did very well. She made $750.00. But there was a new piece of jewelry making equipment she had her eye on that would cost $600.00. She bought the equipment and paid her parents $100.

1

Payback How much was she supposed to pay back in six months?

2

Loan If she had taken a loan from a bank, would she be able to manage her finances this way?

3

Ethics What do you think is the best thing for Cara to do in this situation?

BUILD YOUR FIRST BMC

Your challenge: Think of a problem your teachers have. Ask them what keeps them up at night. After they tell you some issues, think of ways to solve them. Based on all the nine building blocks and short videos you watched, start by filling out your canvas. Once you fill it out, you perform customer discovery to help validate your solution. Need more help? Visit STTEfoundation.org/unicorn-academy

STTEFOUNDATION.ORG/UNICORN-ACADEMY/

STTE Foundation