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- Jan 27, 2020
Interesting idea @Tiago - and it just gave me another one. What about Data as a Service for lead gen purposes (and possibly extra revenue), with the water monitor as the end game?This might be a longshot, but I figure it might be helpful to you.
If your product is good, and you're willing to take on all the risk, is there perhaps a change of business model that could potentially be more viable for your customers?
There is a beautiful article and podcast by Peter Diamandis where he goes deeper into how not only innovation in products and services, but in business models, can have the greatest impact in your own company. Here is the article and podcast.
As an example, one company that I've been studying is Enexor. They have created a system which can organic or plastic waste into renewable energy, and feed it to a microgrid.
But since this is new technology, and there are costs involved in installing a system, they have created an "Energy-as-a-Service" model.
Here is an excerpt from their website: "Enexor partners with you to reduce your energy and waste disposal costs with minimal capital outlay. Unlike the majority of other variable energy solutions such as solar and wind, we will install our systems at your facility, using our Energy-as-a-Service ("EaaS") partnership contract structure. Without the need for large capital expenditures, you only pay for the power and thermal energy generated."
How could this be appliable to you? Is there a way that you can reliably eat up the risk (without putting yourself in danger), where it would make it a no-brainer for your clients and you could perhaps make even more money in the longterm? Can the output of your product be quantifiable?
Maybe it can't, not every business model works for every product, but then again - maybe it can.
Use the NOAA drought database, together with information on crop market prices, water needs, water costs, etc. to figure out what crops would be profitable. For anything that is borderline profitable, you could "push it over the edge" with the water monitoring system.
There is a Data as a Service thread on the forum here: