This week the team met to create the Business Model Canvas. It went well since NYX members work well together. A mantra, twitter summary and value/principle statements were developed. If the first team meeting represents the rest, NYX will be a supportive, entrepreneurial team. This week brought positive results.
The team identified some challenges that will have to be dealt with in the near future. The challenge that needs the most immediate attention is developing an advisory board. It is difficult to find advisors who are able to make the time commitment to NYX. The team is currently searching networks to find suitable advisors.
Another concern that was recognized was prototype development. There are specific requirements that NYX offers its customers that need to be provided by the clothing. Materials, design, price and manufacturing advice was discussed. The initial prototypes may be developed partially in a guess and test manner to learn how to meet these requirements.
For the upcoming weeks NYX will be working on the prototype, logo and alternatives assignment.
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