Coaching Class 1 : Lemonilo I. Expert Session : How to develop business models for our start up. Nowadays, investors usually ask for a business model that is a collection of assumptions or hypotheses of our targeted customers, the problem of the customers, the solution proposed to address the problem, the channel and also the economic aspect of the business. The business model is needed in order to know the scalability of the business or how it can grow larger and make profit. Then to validate the hypothesis, we need MVP to test the product/solution to the targeted market. The MVP usually uses a lean startup approach that needs to be fast, flexible, iterative and experimental in order to in-depth knowing about customers. 1. How Lemonilo build their core team In this session, what we learn from Lemonilo is how they start business with people from different backgrounds but have the same passion they would like to solve Indonesia’s health problems. Then, they hire HR and techno related people as their MVP was their website (Lemonilo.com). Lemonilo believes that It is highly important to have team members with different backgrounds and expertise as it helps the team to tackle arising problems while seeing it from various points of view. All team members are seen as equal regardless of their gender, if they are qualified for the job, they will get the job. 2. How Lemonilo created their MVP or prototype product Lemonilo understands that Indonesia people have a tendency to not like healthy food since it is usually expensive, hard to get or not suitable with Indonesian’s taste. Thus, they come up with some healthy products that are practical and accessible for everyone. Lemonilo’s first customers are urban female, diabetic people, and overweight people since these are the ones who have the biggest concern about what they eat and how it may affect their health In their early stage, to test their hypothesis, Lemonilo used Lemonilo.com as their MVP where they tried to test the market interest by being a healthy food marketplace. MVP is a prototype or an oversimplification of a product that mirrors our end product. The purpose is to be tested to the market and iterated. It should be fast and something that we can gain data from. After that they launched healthy instant noodles and some other healthy products. Now they are having App and 27 products in total. Basically, Lemonilo always launch, iterate, scale and learn fast. Even for their instant noodles, they experienced many changes based on the customers’ feedback. 3. Social Impact of Lemonilo Their social mission is similar to their business mission, which is to create an accessible healthy lifestyle for everyone. All of their products have the same DNA: all-natural, affordable, and practical. 4. How Lemonilo get investment from Alpha JWC Venture Before or even after receiving investment, Lemonilo bootstrap which means only spend when they have to. Lemonilo got introduced to Alpha by one of their networks. They approached them when still doing Konsula, their first company, but got rejected. However, it started as the first step to mentorship, then when they started Lemonilo they got invested. In addition, Investors believe that the educational background of the team also influences the forming of a strong team besides the clarity of the product market fit.