MiiCycle.BusinessPlan

Ian G. Mowbray, Founder
mowbrayian@miicycle.co
(434) 956-5083
http://miicycle.co

Executive Summary 1
The Company 2
Problem Statement 2
Purpose Statement 2
Vision Statement 2
Our Solution 2
Values 3
The Market 4
Market Size 4
Demand 5
Trends 5
The Competition 6
Competitive Analysis 8
Marketing 10
Target Market 10
Our First Customers 11
Marketing Strategy 12
Products 12
Pricing 13
Promotion 14
Place 14
Advertising 14
Partnerships 15
Visual Identity 15
Digital Strategy 15
Team 17
Core Team 17
Contractors 17
Operations 18
The Workplace 18
First Year Focus 18
Key Milestones 19
Financials 20
Growth 20
Startup Costs 21
Equity Structure 21
Board Seats 22
Risks 22

Underlying Assumptions 22
Main Risks 23
Worst Case Scenario 23
Summary 23
The Opportunity 24
Best Way Forward 24
The MiiCycle Advantage 24
Appendix 26
Appendix A: Personas 26
Appendix B: Business Model
Canvas
31
Appendix C: Event Infograph 32
Appendix D: HOOKED
Worksheet
33
Appendix E: Survey Data 39
Appendix F: Financials 48
Appendix G: Strava Report 51
Appendix H: Wireframing 55
Works Cited 57

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Executive Summary
What we do:
MiiCycle brings safety to cycling in the community by routing cyclists to bike lanes and less
traveled roadways, while improving the current audio directions in the market and customizing
them to the cycling experience.
The Need:
Current navigational systems are directed towards the automobile driver from the route that is
planned to the turn-by-turn directions. This causes cyclists to be routed to dangerous roadways
designed specifically for automobiles with no bike lanes. We seek to address that by improving
the audio notifications, route preferences, and overall route planning for cyclists using real-time
navigation.
Product & Services:
We will offer an online user experience that will allow cyclists visiting the DC area to review
how easy it is to get around by bike within the city. This site will also be for those cyclists
wanting advanced route knowledge before their trip.
Our main product is a mobile application for on-the-go route planning with advanced turn-by-
turn audio notifications for cyclists. This will be available in a two-tiered system with a free
mobile application, which will include ads as a revenue stream. We will also have a premium
service available at $4.99/month, which will unlock add-on features such as fitness tracking and
entering your own route.
Our Customers:
Cyclists within the District of Columbia will be our targeted market for end users, but we will
also be serving the local and federal governments by helping to fulfill their support of alternative
transportation, which opens the door to grant opportunities. In the DC Metro area, cyclists that
report riding regularly make up 3.15% of the population, which is 190,000 people according to
Nielsen Ratings, and our goal is to serve 10% of cyclists within our first year.
Competitors: Google Maps | Strava | Bikemap.net
Team: Ian Mowbray | Edward Galiber
Assumptions:
• There is not currently a comprehensive solution available to cyclists.
• Specialized audio software for navigation geared towards a certain population has not yet
been patented based on our research. MiiCycle will seek to patent this during the build-
out of our application.
Moving Forward:
Cycling is a growing form of transportation in urban communities and throughout the world. We
see MiiCycle continuing to grow and expand in this market by being the lead provider of
navigation to cyclists, furthering the growth of those wanting to replace their daily commute with
cycling.

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The Company:
MiiCycle will provide a real-time GPS navigation service aimed at cyclists to
improve safety and overall efficiency of commuting and recreational cycling within the
community. This will be accomplished through our design of audio navigation combined
with voice commands (patent needed) as well as the focus on safety by routing cyclists to
bike lanes and less traveled roadways. This will be packaged in a mobile application that
we will make available in the Apple Appstore and Google Play store.
Problem Statement
We clearly see the problem as the need for improvement in the attractiveness and
safety of cycling within urban areas, while upgrading the features of GPS Navigation
specifically for cyclists, to allow for instantaneous route planning and alternate route
options based on real-time traffic information and bicycle lanes that is tailored based on
the cyclist’s self reported ability.
Purpose Statement
MiiCycle seeks to promote alternative means of transportation that are both safe
to the users and helps improve health as well as the environment.
Vision Statement
MiiCycle will become the leader in real-time navigational services for cyclists
that promotes safer commuting and recreational cycling within the community.

Our Solution
We will provide a navigational GPS mobile application for cyclists that uses:
geolocation, travel history, crime reports, and gradation in the planning of the route with
focal points on bike lanes and less traveled roadways for the route optimization. We will
also provide the option for voice activated edits to the route as well as improving overall
voice navigation to provide the safest route possible.
The combination of both the mobile application and website will allow for a more
comprehensive solution. By providing both a dynamic application and a website, we are
able to address the users that are on the go, and those that want to plan or have more
detailed information. The website also allows people planning a trip to the city the ability
to plan out bike tours or transportation ahead of time.

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Values
By using Michael Porter’s strategic activity mapping below, MiiCycle will align
it’s key values and what we would like to offer to customers with clear pathways on how
we can achieve this. Doing this, we will ensure that we align with key values, features,
and costs as we continue to start out and grow our business.
Strategic Activity Map
As a company, MiiCycle wants to provide a focus on safety within the cycling
community, and we have broken down what we, as a business also should focus on in
order to make the optimum customer experience. Our key features in the map above are
self-customization, audio controls and low user cost. By aligning these to our focus on
safety, we can provide a unique user experience that gives the rider confidence.
For our end users, we will be able to provide a lower cost due to government
subsidies available to businesses that promote alternative transportation. This along with
the free data available through Topologically Integrated Geographic Encoding and
Referencing (TIGER) will allow us to have a low cost to the individual user, and we will
also open up higher end business solutions for partnerships with bike associations and
bikeshares. Since the data needed for our mapping overlay is freely available, we will be
able to further allow for user customization based on personal preferences, which is

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typically based off of user skill level. This data will then be tracked to report back for
our reimbursements through government grants.
The customizable preferences available in both the free application and paid
version will ensure that the safety of the application meets the need of the customer but
does not hinder them. This is accomplished through available user controls and further
improved through the audio notifications. By having this strategic map, MiiCycle will be
able to easily apply this to other cities as we continue to grow and expand, while keeping
on track with where we want MiiCycle to be in the market.
The Market:

MiiCycle will be targeting cyclists in the Washington, DC area and eventually
expand to other urban communities. We will also be seeking strategic partnerships with
the local and federal government, businesses, bicycle associations, and Capital Bikeshare
to promote alternative transportation in the local community. This will be achieved by
providing real-time navigational services that will improve the safety for both cyclists
and motorists, which will encourage more people to convert to this mode of
transportation for their commute.
Cycling is currently considered a growing market for commuters in urban areas
with around 36% of the millennial population in DC already cycling as part of their
commute. MiiCycle is positioning itself in the market with the aim to take advantage of
this growing community by providing a needed service for those starting out and those
already a part of the community.
Market Size
According to Nielson Ratings, our total market ranges from 23% to 36% of our
identified demographics, with 3.15% of the total population in the DC Metro area
reporting cycling activity. We focused in on household incomes looking at those with
$75,000 or more a year, placing many of our users in the upper to middle class with
disposable income. We then broke these down into three distinct segments base on age:
• 18-24 year olds in the DC Metro area make up 36% of the cycling community
with approximately 68,400 reporting the use of bicycle for their commute
• 35-54 year olds in the DC Metro area make up 32.6% of the cycling community
• 55-64 year olds in the DC Metro area make up 23.8% of the cycling community
Currently, no other companies are attempting to address the issue of cyclist safety,
outside of advocacy groups. By focusing on disrupting the current GPS industry,

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MiiCycle feels that within the DC Metro area market we will be able to claim around
33% of those identified in the demographic target above by year five.
Demand
Looking at the current demographic, demand in the DC Metro area market is
approaching 75%. Through out customer interviews, we have been able to determine a
normative profile for cyclist, with the majority preferring to take necessary precautions to
ensure safety in their cycling activities. While, there is an outlier group of those that are
more seasoned riders who know their preferred routes, and who are not challenged by
automobile traffic congestion. However, even they mentioned the value in using our
application when finding themselves in unfamiliar or unsafe locations. There are also
cyclists who only engage in local/short recreational rides in their neighborhood and don’t
engage in commuting or distance cycling activities. The typical user we gather will be
cyclists who plan to be in unfamiliar locations, tourists planning to ride in new cities, or
cyclists who become lost and are looking for safer ways to navigate their bikes between
points A and B, as well as those new to the area.
Trends
The trend of cycling is only beginning to gather popular momentum and form new
waves of importance. This trend has been developing over the past decade (since 2005)
due to government driven incentives for alternative transportation modes. The investment
in cycling as a preferred mode of transportation began taking shape through legislative
set-asides by the Federal Transportation Authority (FTA). In 2013, the FTA set aside
$105 billion for grant funding in alternative transportation, with projects such as the
Arlington County Virginia approved development of 1,130 miles of bike only
transportation lanes.
The District of Columbia is also developing several hundred miles of bike lanes and
dedicated bikeways for commuters, and we have seen trends in building restrictions,
which have been changed to allow developers to build new high-density residences with
the expectation that ownership of automobiles as a primary mode of transportation is a
trend of the past. Cycling is being reinforced, therefore, in multiple ways as the new
preferred mode of transportation in the District of Columbia metropolitan area and in
urban settings across the country.
Through the market research, we have identified three competitors of different
levels, which offer services to cyclists. Google Maps offers a cycling feature, and this is
the main form of navigation available in the market. While not offering turn-by-turn
directions, Strava does stack up by routing cyclists to the safest route available but
continues to be focused on marathon training and the competitive spirit. Finally,
Bikemap.net focuses on travelers and helping them find the most popular route in an area.

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They are worldwide and provide a limited navigation for popular routes, which are
selected based on geolocation.
The Competition
Below, we have plotted our three major competitors: Google Maps, Strava, and
Bikemap.net; against how safe and convenient each of the services are as well as how
they stack up to having audio notifications and visual directions.
Competitive Landscape
Chart 1.1
In Chart 1.1, we wanted to measure our key competitors in the industry against
two main values Safety and Convenience. A key influencer, these values are important to
the cycling community, both for those currently cycling and those wishing to begin
cycling as part of their daily commute. As you can see, Google Maps is our top
competitor, and they rank high on convenience due to the ease of use and access on
mobile devices. However, they rank midway on the safety scale, and this is due to their
continual focus on automobile navigation, which relies on getting to your destination by
the fastest route possible, instead of the safest routes.
Recently, Google Maps has built out their bike feature to include an overlay that
displays bike lanes within the DC Metro area. Their software does still take into account
fastest route over this overlay leaving them midway in the area of safety. We also choose
this due to their voice navigation not alerting cyclists to important route information, such
as when a bike lane ends or switches to the opposite side of the street.

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Strava our second largest competitor ranks slightly above Google Maps in safety,
and this is because their map function does factor in bike lanes and less traveled
roadways when planning a route. The reason they do not rank high in safety is due to
their lack of audio turn-by-turn directions, and the directionality not being factored into
the active route. This could lead cyclists to have to look at their phones continuously as
well as turning down the incorrect side of a street. This leads us into the convenience
factor where they scored low, and this is due to the inability to plan a route on the go.
Strava requires a website login and for the route to be planned from the computer before
going on your ride. Meaning when you are on the go, you must have the ability to stop
and access a computer to plan the route so it is available on your mobile device.
Finally, Bikemap.net ranks similar to Strava for their focus on providing cyclists
access to the most popular routes in the area while they’re traveling. They currently have
limited navigation that is simplified and based on the current automobile system, but this
does only apply for popular routes, meaning they are not accessible for spur of the
moment trips.
Chart 1.2
In Chart 1.2, we used key features of the mobile application to measure our
competitor’s advantage in this area. Our main competitor, Google Maps, is high on the
visual mapping as they offer 3D map capabilities and real-time geolocation navigation,
but they have been placed midway on audio notifications. This is because they currently
follow the standardization of the turn-by-turn directions as designed for automobiles
leaving room for our soon to be patented technology that will include notifications

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specifically designed for those on a bicycle, such as gradation, turn count down, bike lane
changes, and cycling restrictions.
Strava rates high on visual mapping as they do have a similar map to Google
Maps, less the 3D option. However, they have no audible notifications or turn-by-turn
directions leaving them on the lower end for this feature. Finally, Bikemap.net rates low
in both of these due to their limited navigation on only popular bike paths within the area,
which typically focuses on scenic and training routes.
For MiiCycle, we are located in the top right of both of these charts as we are high
in safety and convenience, and we provide improved audio notifications as well as
providing the standard visual mapping system. Safety is a key feature that we are
planning on improving for cyclists, and this is due to our ability to provide specialized
audio notifications in concordance with turn-by-turn directions. Riders will have the
ability to choose which of these notifications are most important to them so that they can
turn off those they do not wish to hear. Also, by providing both a website and mobile
application, we will increase the convenience and visual components of our offerings to
allow us to surpass our competitors as we grow.
Competitive Analysis
Google Maps: Google Maps is dominating the market of GPS navigation currently
being the only one offering turn-by-turn directions using real-time information for
cyclists. However, they do not currently route based on safety, allow for voice
commands, or give timely audio notifications including notifications regarding traffic
changes, gradation, and other important details for cyclists.
How we compare: MiiCycle plans to at first meet the quality of visual mapping that
Google Maps is currently providing and improve the audio features available, with a
focus on cycling. This means we will be providing notifications for gradation, bike lane
changes, bike restrictions, turn count down, and destination street side. Along with this,
MiiCycle will give the cyclist full control of their experience so it is customizable to their
skill set, and it will provide fitness measurements.
Strava: Strava’s focus is currently geared towards the tracking of your statistical
competitive data, mainly focusing on athletes. While they do have a GPS function, it is
not in real-time, and it must be planned directly from your computer in order to have on
your phone. It is great at routing you based on gradation as well as on safety, but it does
not offer any audio to compliment this routing.
How we compare: MiiCycle will exceed Strava by providing real-time geolocation
navigation with an improved audio feature as mentioned above. It will also exceed
Strava’s current routing abilities by routing cyclists automatically to bike lanes and less

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traveled roadways both on the go and online. Combing this with the audio features, we
will exceed the current offering that Strava has.
Bikemap.net: Bikemap.net currently focuses on providing popular scenic and training
routes worldwide. These routes come with simple navigation much like that for an
automobile but designed to follow both street and off-rode paths. It currently does not
provide instant route planning, but you can track your fitness or personal route.
How we compare: Much like with Strava, MiiCycle is focusing on surpassing the
capabilities provided by Bikemap.net through our real-time navigation and tailored audio
notifications. By also allowing skill preference setting, we will be able to suggest
popular routes as well as route the cyclist appropriately when they are on the go.
Table 1.1: Competitive Analysis
1 = critical; 5 = not very important.

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Through the analysis of the existing services from the viewpoint of our targeted
end user, MiiCycle has a competitive advantage over other market solutions. Our target
user is the person who is new to a given area and is unfamiliar with the known local
strategies cyclist use to safely navigate the streets. This is due to the insufficient signage
to know the rules, which shift block to block and is caused by the local governments
predominate focus being on the rules that govern automobiles. This preconception is
based on the fact that cycling is a new paradigm in the transportation solution process.
MiiCycle is seeking to be the first to focus on this gap in the marketplace to give
us our competitive advantage. Because we have located a gap in the current services, our
disadvantage would be not having the funding to act swiftly, which may cause us to miss
the window of first mover advantages.
Marketing
Target Market
MiiCycle will be targeting two separate types of end users. First, we will target
those within the DC Metro area that use cycling as part of their daily commute, which is
around 10% of the cycling community. Free users will either be generating ad revenue
through the audio and visual ads that generate and target the customers on their mobile
device. Our premium users will pay $4.99 monthly, and they will not receive ads but will
have added features that are outlined later in this paper.
Our second type of users is partnerships with businesses and the local
government. Programs such as Capital Bikeshare are actually funded by the local
government as a form of alternative transportation within the city. We will thus be
focusing on partnering with bikeshares in larger cities to provide premium services to
each of the bicycles at their stations to make cycling within the city even easier for their
users. This will be done through a business plan subscription. This same subscription
will be available for large groups such as bicycle associations. The data collected from
MiiCycle will then be used to get government subsidies. These are through forms of
reimbursement from grant money available to businesses that support alternative
transportation.

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Demographics of Market:
(Survey Data available in Appendix E)
Our First Customers
MiiCycle will initially focus on prototyping the mobile application through the
local bicycle association community, specifically targeting the Washington Area Bicycle
Association (WABA). This will provide us with direct customer feedback on operation,
features, and overall performance. In return, each participant will receive the service for
free up to six months after the finalized version of the application is launched. This will
assist MiiCycle in promoting through word of mouth marketing with those willing to test
the prototype.
We will also focus heavily on finding strategic influencers within the cycling
community so that they will also be able to prototype the service and influence potential
users through social media platforms. At launch, we will run a promotion to allow the
Age: 18 – 34 35-54 55-64
Gender Male and Female Male and Female Male and Female
Location District of Columbia District of Columbia District of Columbia
Income Level $75K - $150K $75K - $150K $75K - $150K
Education Some College –
Some Post Graduate
Work
Some College –
Some Post Graduate
Work
Some College –
Some Post Graduate
Work
Percent of
population using
cycling
36%

32.6%

23.8%
Type: Businesses Government Associations
Industry Bike Shops and
Bikeshares
Department of
Transportation
Local Bicycle
Associations
Location DMV DMV DMV
Targeting Strategic
Partnership to
provide Marketing
for the Business
Partnership focusing
on City Planning
information as well
as providing
Premium Services to
Bikeshares in the
area
Prototyping
community will also
allow for word of
mouth marketing to
others in the
community.

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first 2,000 downloads to receive six months of premium services, which do not have ads
and comes with added features. This promotion aims to increase our word of mouth
marketing opportunity.
Marketing Strategy
Goals:
• Increase product awareness among 18-36 year olds that use cycling as a main
part of their commuting with a goal to capture 5% of the those that fall into this
age range (36% of the cycling population in total)
• Inform target audience about features and benefits of MiiCycle and
its competitive advantage over using Strava and Google Maps during a ride.
• Decrease potential customers' resistance to using our product by offering the
initial beta service for free. The focus will be on a strong word of mouth
marketing within the cycling community by assuring that we have product market
fit through small iterations.
• Convert early adopters to paying premium accounts by turning their rides back to
the fun factor and alleviating the anxiety.
We will first focus on the freemium model by allowing cycling associations
access to our prototype to ensure customer feedback and that our initial launch of the
product will go smoothly. This will give us great word of mouth marketing throughout
the cycling community. We will also focus campaigns targeted at particular members of
the cycling community that are influencers within the social media space. This will
further increase the word of mouth recommendations we receive.
Products
• Free:
o Dynamic Audio Notification for Cycling Restrictions, Bike Lane Changes,
Turn Count Down and Destination Street Side.
o Route Preference Settings: Minimal Elevation, Fastest Route, and Avoid Left
Turns.
• Premium: ($4.99):
o Adds on Gradation Notifications
o Adds on Popular Cycling Routes
o Access to Cycling Data/Fitness Tracking
Most Important Feature: We see the enhanced audio notification as MiiCycle’s most
important feature. This is because it is specifically designed to improve the overall route
safety for cyclists by giving notifications based on user-controlled preferences.

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Benefits to the User
• Improved safety – Current services within the marketplace do not have safety
features such as routing cyclists to bike lanes or less traveled roadways. Plus, our
unique audio notifications designed for cyclists will further improve the overall
safety when using MiiCycle to get around the city.
• Improved convenience – Ability to use a cycling focused application that will not
route you to a busy roadway, such as 16th
St. NW. Not only does this stress out
the cyclist, but it also adds unneeded notifications to the cyclist when they decide
to alter the route, when using a service such as Google Maps.
• Confident Riding – Not feeling like you will be lost or in danger during your
route. Allows for more time to enjoy the cycling experience.
All users will have the ability to reach out to our customer support team should
they need to leave feedback or have a problem. Also, there will be an available forum
online that will allow them to discuss with the community what they would like to see us
add to our application or improvements that need to be made. A refund will also be
available to those that experience any trouble with the application.
In concordance with our government subsidy, we will also provide access to local
and federal government information resources for those wishing to get more involved
with the politics of cycling. The data collected from our application will be provided to
the government for census purposes to show the viability of our service. The data will
also be available to the end user.
Pricing
Our pricing is slightly lower than the current industry standard for fitness
application subscriptions. This lower cost can be provided to the end users due to the
government subsidies available for those promoting alternative transportation solutions in
the area. The majority of cycling apps focus on fitness not navigation, but Strava offers
cycling routes for free or at $5.99 a month. We will be offering our services at $4.99 a
month, which increases the users access to features, notifications, and fitness tracking.
This means that our price is $1.00 lower than the competitor on a monthly basis. We
choose to provide our service at a cost that was reasonable to the customer and within
market standards as we see this as important to the customer’s decision. Customers make
their service choice not only on available features and overall quality of the application
but also slightly on the price of the service.
For customer retention, we will always credit our members one free month of
service for any issues they experience with our application. If there is a larger than
normal glitch in our system, users will be credited 3 months of free service. Both of

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these credits will not subscribe them to the subscription, but they will receive a
notification offering them the ability to continue premium service after their free credit
has ended.
Promotion
MiiCycle will partner with particular local businesses within the area and
advertise local bike riding events to generate awareness and word of mouth (WOM) in
the community. For customers, we will seek to partner with local bicycle association
WABA to gain early adopters. They will gain free access to the full service of MiiCycle
in Beta with an additional six months free for testing the product after the initial launch.
Promotional Activities
1. Initial Customers: offer Beta to WABA with additional six months of premium
after full launch
2. Launch: First 200 customers receive six months of premium
3. Events: Special discounts/trials for the first few events
Place
Where – DC Metro Area
Access
1. Website
2. Apple Appstore
3. Google Play Store
Physical Locations
• Popups at local rides throughout the city
• Popups at local stores (partners) to hand out flyers // offer demos
• Ad space with Capital Bikeshare (possible partnership)
Venues
1. Pop-Ups: Local, tables at events, bicycle shops, marathons, DC Tech Day
2. Events: Local bike rides within the DC Metro area- demoing before, during, and
gaining feedback at destination (usually a bar, brewery, restaurant)
Advertising
• Audio ads for Podcasts, Google Play, and other streaming services
• Digital: Ad space on partnered local sites
• Paper: Flyers in local shops and partnered sites

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We choose this particular mix because MiiCycle is an e-commerce company and
these tools will allow us to target the cycling community. We did not choose traditional
TV media due to the recent movement of “cutting the cord” that we are seeing throughout
the nation, and this same idea applies to legacy media in print where subscriptions are
down and outside of our target market.
We are also focusing on free services for advertising, though we may pay for featured
ads on particular websites or pay into events to promote our service in the area. With a
focus on partnering within the community, these strategic partnerships should allow us to
keep our costs low for promotions and advertising.
Partnerships
• Local Bike Shops: Bicycle Space, City Bikes, The Bike Rack
• Capital Bikeshare
• DC DOT
Visual Identity
• Fun loving cyclists
• Promoting Safety
• Share the Road
• Something they can’t cycle without
Name: MiiCycle
Domain: http://miicycle.co (also http://miicycle.com bought but not in use)
Color Pallet: Green, white, dark gray/black (and possibly blue)
Digital Strategy
Web site: Ad space for our partners, Blog, Events Calendar, Access to at home route
planning, Customer Reviews
Apps and mobile presence: Primary, on the go routes, visual/audio ad space, pin drops
to local partners should they want to visit.

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Social media assets:
Facebook: Event hosting, promotions, blog post, community development
Twitter: Mirrors FB posts with a more real time effect, i.e. live updating during events,
popup events, photo/video uploading

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Future Social Media Locations:
• Instagram: Photos of - events, staff going on's, partners, users, possibly partner
equipment i.e. bike shops, capital bikeshare
• YouTube: How-to's, experience a route before you go (popular routes), snippets
of events/users
• Vine: Clips of events, staff going on's, partners, users, possibly how to gear up
• FourSquare: Checking in to events, partnered shops, bikshare stations - possible
user reward.
Other media: Video | Photos | Audio
Hosting: Self-hosted most likely on purchased Amazon server space
Team
MiiCycle’s focus within the first three years of business is to operate as lean as
possible by first focusing on its team. At the initial startup, we plan to have four core
team members bringing on contracting help as needed.
Core Team
1. Ian Mowbray, Founder | CEO: As the main founder of MiiCycle, Ian’s key
focuses will be in his specialized fields of marketing, design, cartography, and
idea generation.
2. Edward Galiber, Co-Founder: Currently, Ed is a silent partner, and he is assisting
MiiCycle in the focus of grant applications, local legalities, cartography, and
market analysis.
Needed for Core Team
• Developer: In exchange for a stake in the company, MiiCycle is currently seeking
a lead developer to assist in taking our prototype to the beta stage. Initial
investment will be focused on also providing a salary that is currently below the
market norm with the use of part ownership within the company as a supplement.
• Finance: In exchange for a stake in the company, MiiCycle is also seeking a team
member to be the lead in our financials. This individual will head up
bookkeeping, accounting, accounts payable, and payroll as needed. With initial
investment, we have factored in a below market salary with the use of part
ownership within the company as a supplement.

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Contractors
Within the first three years of our business, MiiCycle will focus on supplementing
additional support as needed with contractors in the areas of IT development, sales, and
customer service. Our goal is to keep the number of contractors low by utilizing the time
of our four core team members. We will start with a max of two contractors at $30.00 an
hour with a maximum of 20 hours per week. Their main focus will be on IT
Development.
For sales and customer service, contractors will be based on a per day basis.
Sales is currently focused on a by event basis, and we will provide access to premium
services for short periods of time (six months) as payment for event leaders. The
founders will mainly man customer service, but we recognize the potential growth
possibility along with the chance of high volume for feedback and hiccups in the
application during our first year so may shift to contractors where needed.
Operations
As stated, MiiCycle will be focusing on operating locally throughout the DC
Metro area with the goal of developing our system to be implemented in other cities as
we grow. A “cookie-cutter” approach will be taken in the design of the navigation so that
after year three we can replicate the service in other urban areas using City Planning data
of available bicycle lanes and updating as cities continue to build more lanes and shared
roadways.
The Workplace
Being an e-commerce company, MiiCycle is looking to be accepted into a local
incubator where the idea will grow and flourish within its first year. Current incubators
under consideration include:
• American University
• 1776
• WeWork
There are many others in the space, but these three will be our top focus. Until accepted
into an incubator, MiiCycle will be operating from the homes of the founders and local
coffee shops throughout the area. Since we are in the mobile application industry, we
will not immediately need a space to store materials.
First Year Focus
With the application still in the prototyping phase, our initial focus will be on
developing the beta version of our application, and this will be done either through

19
outsourcing or by finding a business partner within the field of IT development. Our goal
is to launch the beta version within six months or less and then using regular feedback to
iterate and launch version one of the application by the beginning of January 2017.
We will also focus heavily on partnering with local bicycle associations and shops
to ensure we reach the needed demographic and have our beat testers setup within the
time frame. Initial runs before the launch of beta will include:
1. Surveys to determine the features we should focus on developing first.
2. Minimal viable product to test those features. Initially starting with recordings
that can be used during a ride to validate our tailored audio notifications.
3. Focus group on working prototype.
We are looking to partner Washington Area Bicycle Association (WABA) to find beta
testers in the area, offering six months of premium features with the launch of version
one. Local shops that we are currently looking to partner with are:
• BicycleSPACE
• City Bikes
• The Bike Rack
Finally, we are setting the goal of partnering with Capital Bikeshare by the end of
our first year in Q4. By this time, the application should have enough traction within the
market to begin offering deals to bring in more customers through the local bikeshare.
Capital Bikeshare is funded by the local DC government, and this will also help us meet
part of the goals necessary to accept environmental grants for lowering carbon emissions
within the District of Columbia.
Key Milestones
3 Months
• MVP Testing
• Partnership Talks
• First ride event
• Hire Developor /
Outsource App
6 Months
• Launch Beta
• In local incubator
• Finalize shop
partnership
• Host 3 events per
month
12 Months
• MiiCycle Full Launch
• 2 Bicycle Shop
Parthers
• Grant applications
2017
• Capital Bikeshare
Partnership
18 Months
• Reach 20% of DC
Metro area market
• Receive cirst
environmental grant
• Begin testing in
Portland, OR

20
Financials
(Full financial data can be found in Appendix F)
The total population in the DC Metro area is made up of Washington itself and
surrounding states such as Virginia and Maryland. Out of these areas Nielsen data shows
us that 3.15% or 190,000 people report cycling activity, and MiiCycle seeks to serve as
many of them as possible. Our goal within year one is to reach 10% of the population or
20,300 riders, and we will grow this through our hyper-local marketing strategy year over
year.
Growth
We expect an initial growth of 20% within our first year. Due to Washington’s
location as well as the timing of our launch (fall), this growth rate takes into account the
seasonality of bike riding in the area. As popularity grows, we are planning on
leveraging our users to partner with Capital Bikeshare in the DC Metro area adding to our
member base.
This will give us an estimated $50,000 a year based on the cost of premium
services to the 3,000 bicycles that Capital Bikeshare places throughout the city, with a
nominal fee for maintenance should they choose to install devices on the bicycles.
However, the final details of this deal have not been negotiated as we are still within the
prototyping phase. This partnership will give us an additional growth within the market
by providing access to novice or casual riders that use the bikeshare’s service, and we
expect this will lead to a growth of 50% within our second year.
The partnership will not only bring MiiCycle additional growth, but it will also
allow us to begin the shift of focus for year three so that we can expand our application to
other cities within the United States. Our first focus will be on Portland, Oregon, and this
is due to the temperate climate as well as a recent push in the area towards changing city
infrastructure for the growing cycling community. As we move into years four and five,
we expect to see a much larger growth as MiiCycle will then be active in two cities
working on it’s third, with a growth of 80% in year four and 90% in year five.
By year five, MiiCycle will have replicated the application within two other cities
with a positive next income of $55,218, and this will allow us to either go public or
continue on as a private company replicating our services nationwide.

21
Startup Costs
Application
Initially, MiiCycle will be keeping startup costs as low as possible by partnering
with someone in the IT Development space. This will lower the initial cost of the
application build out, which we currently estimate at $70,000. Ideally, the new core team
member would gain a stake in the company in exchange for his/her work, and we would
later supplement in a salary after we receive investment to ensure they are properly
compensated.
Patent
We also feel that legally protecting our product in this space will be key because
of some of the “big players,” such as Google Maps. This does mean we are in the
process of a patent application, but we do estimate that the initial legal fees will be
around $30,000. To offset this cost, we are beginning the patent application process now
by filling out as much information as we can individually. We will then submit it for
review by legal counsel to ensure everything is in order before submission.
Host Servers
Due to the large amounts of data that MiiCycle will be dealing with, we have
decided that hosting may be a bit beyond what we ourselves will be able to do. Luckily,
Amazon offers hosting via their AWS server space with prices ranging from $0.01 to
$3.00 per hour. We are looking at the higher end of this and estimate costs for our first
year to be $27,000.
To mitigate this cost, we can examine what it would to take to establish our own
server space and where it can be housed during our first few years. Technical expertise
would be needed for this, and we currently are unable to estimate how long or the cost
associated to mitigate this high startup cost.
Equity Structure
Initially, MiiCycle has set aside 40% of the company for investment with one to
two board seats available to represent those investing. Each of the three core team
members will receive 13.3% stake in the company with the shares vesting over a four-
year period. The co-founder Edward Galiber is currently inactive, but we have set aside a
5% stake in the company for him based on previous contributions.
We have also set aside 15% of the shares for future employees with the
expectation that salaries will continue to be below market average, until we become

22
profitable in our fifth year. Employees will be required to go through the same 4-year
vesting schedule as core team members with individual contracts written at the time of
their employment. Below is the full breakdown:
Chart 1.3
Board Seats
The founder/CEO, CTO, and CFO will all initially sit on the board of MiiCycle
with two open seats for the investor(s). If Edward Galiber rejoins MiiCycle, he will no
longer have the option to sit on the board but will be updated with our meeting minutes to
allow his valued input. The board is expected to grow and change to meet the needs of
MiiCycle, and this is a preliminary structure for how we would like to see it operated.
Risks
Underlying Assumptions
Technology
Technology for customized audio notifications have not yet been patented. Looking
through current patents, we did not see anything matching our own design, but this does
not mean that it isn’t there as there are large amounts of patents out there.
40%
15%
40%
5%
Equity
Core Team
Employees
Investors
Edward Galiber

23
Revenue
Clients are willing to pay for this type of service due to the increase in safety that it
will provide for cyclists. The largest competitor Google does not charge for this service
so it is harder to tell if cyclists will be able to pay for ours. Strava members do make
payments so we believe what we have to offer will most certainly generate interested
customers.
Main Risks
Patent
Gaining patent for customized audio technology of application could have potential
risks to it, as there are current patents out for pieces of this technology. With the help of
a patent lawyer, we will hope to avoid this risk, but this is a critical piece to getting
launched.
Application Timeline
Developing application within the first year in order to launch the service. We run
the risk of seeing a conglomerate such as Google further develop out their bicycle-
mapping feature, which could prevent us from entering the market.
Worst Case Scenario
Scenario 1: Google Maps could circumvent our idea by further developing out their
bicycle feature, making it harder for us to enter the market.
Scenario 2: We could fail as a company. This however should not be seen as something
horrible as we are always able to learn from our mistakes and failures so that we are able
to recover quickly.
Summary
Our business concept originates with the viewpoint of the novice cyclist,
commuter, tourist, or experienced cyclist newly transplanted to a given area. These
cyclists have no resource for real time navigation assistance in the current GPS routing
systems. The current GPS systems are geared towards automobiles and when routing a
cyclist may put the cyclist in dangerous circumstances with no forewarning. This
servicing shortfall is because the current routing design defaults are for fastest available
routes, a feature preferred by motorists. Even when biking routes are overlaid in the
current dynamic application mapping systems, their routing does not factor safer

24
connection between bike lanes nor do they have the function to route cyclists onto less
traveled roadways and streets.
The Opportunity
The opportunity in the MiiCycle design concept is to create a real-time dynamic
audio directional system that defaults for the optimum travel options for cyclists. The
MiiCycle website and dynamic application design is based on defaulting routing
solutions to cyclist preferences. The cyclist will be able to set preferences according to
their skill level and comfort with traffic or other factors. The routing will then provide
best match options according to the cyclist input and the point-to-point selections made
by each cyclist. The MiiCycle system would then generate a route for cyclist to their
destination through bike lanes and safest low traffic streets between point A and point B.
The MiiCycle system default would be toward cyclist safety and not fastest automobile
route. The MiiCycle business concept therefore is to develop and standardize map
routing designs for cycling in a method that MiiCycle can protect through patent and
copyright in the United States and eventually around the world.
Best Way Forward
Our research has determined that mapping systems are based on a system
developed by the Census Bureau termed TIGER, which stands for Topologically
Integrated Geographic Encoding and Referencing. The first steps for MiiCycle are to
develop multiple defensible applications that capture the concept of auditory alerts and
other factors/features for safer cycling. MiiCycle will consult with intellectual property
attorneys who can best advise about the most comprehensive application design that
captures MiiCycle concepts in this new phase of the map routing industry, with the
broadest possible patent, trademark, and copyright protections.
Our MiiCycle team is the originator of this cycling safety concept, and this unique
first position website and dynamic auditory application system has significant profit
opportunities in a new era where the trend for cycling is increasing significantly in
communities across the country and the world. By developing and protecting a cycling
navigation application template for use in any community in the United States and
worldwide, we are positioning MiiCycle to either stand on its own as a business concept,
or be purchased by a larger entity for the support to develop this concept logarithmically
as we envision.
The MiiCycle Advantage
Our primary advantage in the market share is having recognized this opportunity
first. The industry currently recognizes the location of bike paths, but it does not
recognize the significance of cyclers needing direct dynamic audio navigation. Once

25
MiiCycle has the necessary patent and copyright protections, we will seek to partner with
local and federal government entities to develop this concept first in Washington DC and
local communities and then in other communities around the country.

26
Appendix:
Appendix A: Personas

31
Appendix B: Business Model Canvas
MiiCycle
Key Partners
1. Who are your key
partners?
Key Activities
1. What are your key
activities?
Value Proposition
1. What are your value
propositions?
Customer Relationships
1. Your customer
relationships?
Customer Segments
1. Customer Segments
Key Resources
1. What are your key
resources?
Channels
1. Channels
Cost Structure
1. What about your cost structure?
Revenue Streams
1. What are your revenue streams?
Capital Bikeshare
Local Government
WMATA
WABA
Bicycle Space (and
other local shops)
Investors (Board) OR
Grant Foundation
Internal Team Memebers
Manufacturer? i.e.
headset partner
Secured Application
Developer
Mobile Application
Uptodate Urban
Planning info
Realtime Traffic info
Directional count down
Website
Accessible on the go
Notifications tailored to
cycling
Improvement of routes,
based on ability
Safety
More fun, less stress
Personal App
Experience
Feedback
Route suggestions/edits
Personal Ad Sales
Addon Partnership
(Bikeshare)
WABA Early Adopters,
Free Premium App
Experience
Advertisement of public
transit (cyclist access)
Commuters
New to Cycling
CycleFanatics
Bikeshare Users
Local Bike Stores
Capital Bikeshare
Washington Area
Bicycle Association
(WABA)
WMATA
*Application
Developer(s)
Server Space
Patent
Additional Team
Members
Partnerships
Grants/Funding
Advisors
Trademark
Mobile Application
Website
Bikeshare Stations
Newsletters
Ad Sales
Statistical reporting for
local gov./grants
Maintenance // Server Space
City Planning
Map // Route Maintenance
Grant Applications
Payroll Internal Team
Partnerships
Premium Subscription ($5.00 per
month)
Ads (visual, audio)
Grants

32
Appendix C: Event Infograph

33
Appendix D: HOOKED Worksheet
Basics
1. What product or service do you want to make more engaging?
● Safely navigating urban cyclists.
2. Why does your business model require users form a habit?
● To increase the safety on the road for the users and for motorists.
3. What problem are users solving with your product?
● Finding their way to their desired location with as little stress as possible and
experience confidence in the completion of their ride.
4. How do users currently solve that problem and why does it need a solution?
● Users currently use paper maps, Google Maps, and some use Strava to plan their
routes. None of these currently combine audio notification designed for cyclists
leaving a potential gap.
5. What is the user behavior you want to turn into a habit? (the intended habitual behavior)
● The use of a mobile device to navigate during their commute and other rides
throughout the city.
6. How frequently do you expect users to engage with your product? (Note: If the behavior
does not occur within a week’s time or less, you may have a very difficult time forming a
habit.)
● Daily during their commutes or trips on their bikes and for leisure rides.
TRIGGERS
Triggers come in two types—external and internal.
● External triggers tell the user what to do next by placing information within the user’s
environment.
● Internal triggers tell the user what to do next through associations stored in the user’s
memory.
Negative emotions are strong triggers
● Lonely - Facebook
● Unsure - Google - answer questions
● Boredom - Youtube, news, stocks, sports

34
Get out of the negative valence state
1. Understanding what your user’s itch is? What trigger are you forming a trigger with?
● Lowering carbon emission
● Improving commute time (no car)
● Gaining confidence in their ride
● Decreasing stress and the feeling of being lost
2. Who is your product’s user? Be clear about the person you intend to help form a habit.
Can you name a real person you know that needs your product?
● Cyclists that are looking to improve their riding experience by lowering stress
and improving their confidence
● Non-cyclists that are looking to change their commute through use of a bicycle
● Me, Miles C., Mara M.
3. What is the user doing right before he or she does the intended habitual behavior you
want (specified above)?
● Planning their ride
● Getting ready for work
● Gearing up to get on their bike
● Lost after trying to ride without navigation
4. Discover and list three internal triggers by using the 5 Whys Method – ask "why" 5 times
in a row.
● Why do people need this product?
○ To improve confidence in their ride
● Why do they need confidence in their ride?
○ Because it's really stressful/scary
● Why is it stressful/scary?
○ Because they are sharing the road with cars, bike lanes not available,
roads and potholes are frightening.
● Why are potholes and sharing the road scary?
○ Danger, thrown from bike, honking - anxiety
● Why is there danger/anxiety in riding?
○ Because you do not have the same protection as motorists and there are
not always lanes dedicated to you.
5. What internal trigger does your user experience most often?
● Stress, Anxiety

35
6. Using the most frequent internal trigger and the intended habitual behavior, finish the
brief narrative below:
● Every time the user feels anxiety about a route, he/she will use MiiCycle to
help navigate their way.
7. Think of at least three conventional ways (e-mails, direct mail, text messages, etc.) and
three crazy or currently impossible ways (wearable computers, biometric sensors, carrier
pigeons, etc.) to trigger your user with an external trigger the moment he or she
experiences the internal trigger.
Conventional:
● Early morning emails near the time of commute.
● Early morning app notification popups near the time of commute.
● App popups suggesting users to take a ride if they haven’t used it for the day.
Impossible:
● Biometric sensors that pick up on stress during commute and alerts the user there’s a
better way with MiiCycle.
● Bike sensors that pick up on uncertainty in a ride or erratic riding and alerts the user to
MiiCycle.
● Accessible 3D glasses that would ping users about the ability to be on a better route
because of the erratic riding that it picks up on.
ACTIONS
An action is the simplest behavior in anticipation of reward.
Every behavior is driven by one of three Core Motivators:
● Seeking pleasure and avoiding pain
● Seeking hope and avoiding fear
● Seeking social acceptance while avoiding social rejection
Ability is user and context dependent and is influenced by six factors:
Factors to increase or decrease ability
Time
Money
Physical effort
Brain cycles - hard to understand
Social deviance - going against the grain
Non-routine - not an established habit, out of cycle

36
1. Starting from the time your user feels their internal trigger, count the number of steps it
takes to reach the expected outcome.
a. Simple there are only 4 steps (5 if they don’t have the app) to fixing their internal
trigger (fear, anxiety, stress)
i. (Download App, if not on device) Open App
ii. Type in destination
iii. Select route
iv. Go
b. The main competitor in the cycling community is Strava. Planning a route
through their service is very complex requiring the use of a computer. For
Google Maps, this is a very similar process.
2. What is limiting your users’ ability to accomplish the intended habitual behavior? Check
all that apply
a. Time
b. Money
c. Physical effort
d. Brain cycles
e. Social deviance
f. Non-routine
3. Brainstorm three testable ways you can make the intended habitual behavior easier to
complete by removing the barriers you circled above.
● Using habits for those using the app and use push notifications to remind people
to remind people that their daily commute is coming up.
● Offering safety habits via content for how to wear your headphone during your
rides.
● Possibly giving away free mounts with first app downloads. (200 first customers)
REWARDS
Variable rewards:
● Tribe - social, feel good from other people; empathetic joy, partnership, cooperation
(social media, Facebook)
(Stack Overflow, technical documentation up or down voted, points, badges, confer
status)
● Hunt - not just money, a search for resources; primal search for food. The “feed” is a
hunt for variable information rewards. Endless search/hunt.
(Twitter, scrolling)
● Self - feel good, but don’t come from other people; intrinsic motivators - mastery,
competency, control.
(Gameplay. Leveling up. INBOX zero. Finishing todo list.)

37
1. Review the steps your customer takes to use your product or service habitually. What
outcome (reward) alleviates the user’s pain? Is the reward fulfilling? Does it leave the
user wanting more?
a. Lower stress, heightens confidence (self)
b. Gets them to their destination quickly and safely - reward both during and at
completion of the ride.
c. Hopefully is leaving them wanting more. They want all their rides to be that
safe/confident.
2. Brainstorm three ways your product might heighten users’ search for variable rewards
using the variable reward types:
a. Tribe - Ability to share rides, suggest favorite routes :: likes, earning badges or
accessories for their avatar
b. Hunt - Search for the best route. It is sort of automated, but they can also search
for suggested routes based on their skill level or things their friends may be
suggesting.
c. Self - earning their badges/accessories, seeing progress through ride data (oh I’m
now able to ride up Tilden hill), learning routes based on safety versus fastest
way there increasing self knowledge
INVESTMENT
Unlike the action phase, which delivers immediate gratification, the investment phase concerns
the expectation of a future benefit.
1. Review your flow. What “bit of work” are your users doing to increase their likelihood of
returning?
a. Using the app during a ride records data, they will continue investing this and
have access to ride data and achievements.
b. Inputting favorite routes and gaining likes will bring the user back to continue
contributing more routes.
2. Brainstorm three ways to add small investments into your product to:
a. Load the next trigger
i. User stored data - reminding them how close they are to an achievement
ii. App push notification to remind them of their usual daily ride or if
infrequent user suggesting they take a ride.
iii. Likes on suggested routes or recently completed routes that show up in
the jewel notification that they will want to go in and check.
b. Store value as data, content, followers, reputation, and skill
i. Data - user reported information, riding data, stored favorite routes
ii. Content - achievements, history, likes, suggested routes
iii. Followers - riding groups that are liking and suggesting things to you

38
iv. Reputation - leveling up through achievements that build the user’s
reputation
v. Skill - tracking achievements and suggesting when the user is moving up
in skill

39
Appendix E: Survey Results
11.11% 7
46.03% 29
57.14% 36
9.52% 6
Q1 What level of cyclist would you consider
yourself?
Answered: 63 Skipped: 0
Total Respondents: 63
Minimum
1.00
Maximum
4.00
Median
3.00
Mean
2.53
Standard Deviation
0.76
Marathoner Commuter Recreational Other (please
specify)
0%
20%
40%
60%
80%
100%
11.11%
46.03%
57.14%
9.52%
Answer Choices Responses
Marathoner (1)
Commuter (2)
Recreational (3)
Other (please specify) (4)
Basic Statistics
1 / 10
Biking in DC Metro Area SurveyMonkey

40
34.92% 22
1.59% 1
19.05% 12
41.27% 26
0.00% 0
3.17% 2
Q2 How many times a week do you ride
your bike?
Total 63
Minimum
1.00
Maximum
6.00
Median
3.00
Mean
2.79
Standard Deviation
1.44
5 times or more
34.92% (22)
Only for short
errands
1.59% (1)
Several times
during the week
19.05% (12)
Once or Twice a
week
41.27% (26)
Other (please
specify)
3.17% (2)
5 times or more (1)
Only for short errands (2)
Several times during the week (3)
Once or Twice a week (4)
I’m unsure (5)
Basic Statistics
2 / 10

41
11.11% 7
52.38% 33
25.40% 16
9.52% 6
1.59% 1
Q3 Out of the rides that you take, how often
do you have to rely on route planning or
use navigation?
Total 63
Minimum
1.00
Maximum
5.00
Median
2.00
Mean
2.38
Standard Deviation
0.86
Every time I
go out
Only for
unplanned...
Only when I
get lost or...
I know my city
and don’t ne...
Other (please
specify)
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
11.11%
52.38%
25.40%
9.52%
1.59%
Every time I go out (1)
Only for unplanned routes (2)
Only when I get lost or feel unsure (3)
I know my city and don’t need this (4)
Basic Statistics
3 / 10

42
79.37% 50
20.63% 13
Q4 Do you use a fitness tracker during your
ride?
Total 63
Minimum
1.00
Maximum
2.00
Median
1.00
Mean
1.21
Standard Deviation
0.40
Yes
79.37% (50)
No
20.63% (13)
Yes (1)
No (2)
Basic Statistics
4 / 10

43
17.46% 11
0.00% 0
1.59% 1
22.22% 14
4.76% 3
19.05% 12
34.92% 22
Q5 If so, what service do you use?
Total 63
Minimum
1.00
Maximum
7.00
Median
6.00
Mean
4.94
Standard Deviation
2.16
Strava
17.46% (11)
Map My Ride
1.59% (1)
FitBit
22.22% (14)
Apple Watch
4.76% (3)
N/A
19.05% (12)
Other (please
specify)
34.92% (22)
Strava (1)
Bikemap.net (2)
Map My Ride (3)
FitBit (4)
Apple Watch (5)
N/A (6)
Basic Statistics
5 / 10

44
28.57% 18
50.79% 32
20.63% 13
Q6 If you use a fitness tracker, do they also
offer GPS?
Total 63
Minimum
1.00
Maximum
3.00
Median
2.00
Mean
1.92
Standard Deviation
0.70
Yes
28.57% (18)
No
50.79% (32)
N/A
20.63% (13)
Yes (1)
No (2)
N/A (3)
Basic Statistics
6 / 10

45
84.13% 53
15.87% 10
Q8 Would well-timed notifications improve
the GPS your currently using? For example,
say you received a countdown to a left turn
to help you prepare to move out of the bike
lane.
Total 63
Minimum
1.00
Maximum
2.00
Median
1.00
Mean
1.16
Standard Deviation
0.37
Yes
84.13% (53)
No
15.87% (10)
Yes (1)
No (2)
Basic Statistics
8 / 10

46
85.71% 54
14.29% 9
Q9 Do you think that your current GPS app
would be improved with well-timed
notifications that are tailored to cycling?
Total 63
Minimum
1.00
Maximum
2.00
Median
1.00
Mean
1.14
Standard Deviation
0.35
Yes
85.71% (54)
No
14.29% (9)
Yes (1)
No (2)
Basic Statistics
9 / 10

47
58.73% 37
23.81% 15
3.17% 2
6.35% 4
7.94% 5
Q10 What do you see as the most needed
improvement for cycling navigation?
Total 63
Minimum
1.00
Maximum
5.00
Median
1.00
Mean
1.81
Standard Deviation
1.25
Focus on
shared roads...
Well-timed
audio...
Improved
gradation...
Routes based
on reported...
Other (please
specify)
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
58.73%
23.81%
3.17%
6.35%
7.94%
Focus on shared roads and bike lanes over fastest route available (1)
Well-timed audio notifications (2)
Improved gradation notifications (3)
Routes based on reported skill (4)
Basic Statistics
10 / 10

48
Appendix F: Financials
5-Year Forecast
Breakeven Analysis Year 1
Gross Margin % of Sales
Gross Margin $138,697
Total Sales $143,997
Gross Margin/Total Sales 96.3%
Total Fixed Expenses
Payroll $184,799.98
Operating Expenses $36,600.00
Operating + Payroll $221,400
Breakeven Sales in Dollars (Annual)
Gross Margin % of Sales 96.3%
Total Fixed Expenses $221,400
Yearly Breakeven Amount $229,860
Monthly Breakeven
Amount
$19,155
Startup Costs
Application Build $70,000.00
Server Space $27,000
Application Maintenance $100,000
Articles of Organization $300
Trademark $3,000
Patent $30,000
Privacy Policy / Terms of Use /
Legal Advice $700
Salaries / Insurance $110,000.00
Advertising / Promotions $40,000.00
Accounting Fees $26,000.00
Total $407,000.00
Year 1 Year 2 Year 3 Year 4 Year 5
# of Customers 20,300 24,360 36,540 54,810 69,426
# of Employees
3 permanent
2 contractors
Same Same Same 5 permanent
Sales $194,037 $232,844 $316,741 $446,338 $550,016
Expenses $36,600 $38,430 $44,254 $61,031 $84,912
Profits -$185,036 -$124,871 -$97,019 -$8,155 $55,218

49

Income Statement Years 1-3
Revenue 2016 2017 2018
Premium Services 101,297 121,556 182,335
Ad Revenue 21,200 25,440 38,160
Ad Sense 21,500 25,800 38,700
Capital Bikeshare Partnership - 60,048 57,546
Product 5 - - -
Product 6 - - -
Total Revenue $143,997 100% $232,844 100% $316,741 100%
Cost of Goods Sold
Premium Services - - -
Ad Revenue 5,300 5,800 8,700
Ad Sense - - -
Capital Bikeshare Partnership - - -
Product 5 - - -
Product 6 - - -
Total Cost of Goods Sold 5,300 4% 5,800 2% 8,700 3%
Gross Margin 138,697 96% 227,044 98% 308,041 97%
Payroll 184,800 211,152 257,144
Operating Expenses
Advertising 24,750 25,988 29,886
Car and Truck Expenses - - -
Commissions and Fees - - -
Contract Labor (Not included in payroll) - - -
Insurance (other than health) - - -
Legal and Professional Services 2,400 2,520 2,898
Licenses - - -
Office Expense - - -
Rent or Lease -- Vehicles, Machinery,
Equipment - - -
Rent or Lease -- Other Business Property - - -
Repairs and Maintenance - - -
Supplies 3,750 3,938 4,528
Travel, Meals and Entertainment 2,700 2,835 3,260
Utilities - - -
Miscellaneous 3,000 3,150 3,623
Other Expense 1
Other Expense 2
Total Operating Expenses $36,600 25% $38,430 17% $44,195 14%
Income (Before Other Expenses) $(82,703) -57% $(22,538) -10% $6,702 2%
Other Expenses
Amortized Start-up Expenses 102,333 102,333 102,333
Depreciation - - -
Interest
Commercial Loan - - -
Commercial Mortgage - - -
Credit Card Debt - - -
Vehicle Loans - - -
Other Bank Debt - - -
Line of Credit - - 59
Bad Debt Expense - - -
Total Other Expenses $102,333 71% $102,333 44% $102,393 32%
Net Income Before Income Tax $(185,036) $(124,871) $(95,691)
Income Tax $- $- $1,329
Net Income/Loss $(185,036) -129% $(124,871) -54% $(97,019) -31%

50
Balance Sheet Years 1-3
Prepared By: Company Name:
Ian G. Mowbray MiiCycle
ASSETS 2016 2017 2018
Current Assets
Cash 67,337 44,799 52,815
Accounts Receivable - - -
Inventory - - -
Prepaid Expenses 158,000 79,000 -
Other Initial Costs 46,667 23,333 -
Total Current Assets $272,004 $147,133 $52,815
Fixed Assets
Real Estate -- Land - - -
Real Estate -- Buildings - - -
Leasehold Improvements - - -
Equipment - - -
Furniture and Fixtures - - -
Vehicles - - -
Other - - -
Total Fixed Assets $- $- $-
(Less Accumulated Depreciation) $- $- $-
Total Assets $272,003 $147,132 $52,814
LIABILITIES & EQUITY
Liabilities
Accounts Payable - - -
Commercial Loan Balance - - -
Commercial Mortgage Balance - - -
Credit Card Debt Balance - - -
Vehicle Loans Balance - - -
Other Bank Debt Balance - - -
Line of Credit Balance - - 2,701
Total Liabilities $- $- $2,701
Equity
Common Stock 407,000 407,000 407,000
Retained Earnings (185,036) (309,907) (406,927)
Dividends Dispersed/Owners Draw - - -
Total Equity $221,964 $97,093 $73
Total Liabilities and Equity $221,963 $97,092 $2,774

51
Appendix G: Strava Report

A Story of Athletic Social Media

52
Ideation:
In 1996 after achieving success in his career, Michael Horvath found that he had
more time to focus on his physical health and decided to start rowing, a sport he enjoyed
in his youth. However, he noticed that he no longer derived the same pleasure from the
experience so tried something new, cycling marathons. Horvath examined this
experience and noted that, “When you leave a sport, you realize that so much of what
made you excited about being an athlete was the motivation you got from your
teammates. You can’t replicate that. It’s hard to find eight guys to row with every day”
(Vanderbilt, 2013).
Realizing this problem, Horvath approached his friend Mark Gainey about
creating a virtual locker room that would allow people to share their workouts and
measure results against others. Horvath theorized that this would add the motivation that
he saw lacking when exercising individually. Horvath and Gainey realized discussing
this idea that the technology was just not there yet. However in 2008, technology catches
up to their original idea, and Horvath and Gainey decided to launch Strava with a focus
on marathon cycling. They handed a prototype over to ten professional cyclists to test the
validity of their idea, and it became an immediate sensation! Initially, Strava focused on
using GPS devices such as Garmin to track the geographic and fitness data that could
later be uploaded directly to the web-based system. Cyclists could then study the data
online and see how they compare against others in their area. A year later, they were able
to launch to the public.
Evolution:
With the rise of the smartphone, Horvath and Gainey came to realize the next step
for their product was mobile and in 2010 they launched Strava’s first mobile application.
This allowed Strava users to utilize their GPS enabled devices to begin tracking,
uploading, and analyzing their data on the go. They also realized that cyclists are not the
only athletes that can benefit from their service and later launched Strava Run in 2012.
With both products in place, Strava began to gain a large following and focused heavily
on providing a premium user experience.
A strong community surrounding its product, Strava began working towards
profitability by creating new revenue streams with a focus on brand trust. Sponsored
challenges were the first idea to arise out of this thinking, and it allowed users to begin
competing against each other “marathon” style, while having a corporate sponsor backing
the event. This competitive spirit also led to the creation of KOM/QOM (King or Queen
of the Mountain) and CRs (Course Records) for cyclists and runners respectively, and it
reinforced user engagement. In 2014, they experienced their first strategic social
partnership with the Oregon Department of Transportation (ODOT). ODOT approached
Strava to purchase cycling data within the Portland area to improve city planning around
the habits of cyclists. This key point in Strava’s evolution helped them realize the value

53
in their data collection leading them to launch a new site called Strava Insights, which
allows access to anonymous riding data within twelve of their top cities.
Business Model:
Bootstrapping the idea themselves, Horvath and Gainey have had a lot of input
into how their business is run. There are three key areas that are the focus of their
business:
• Data – In 2015 alone, 115 million rides were logged, and Strava is currently
working on how to utilize this mass of data to advocate for its users.
• Competitive Spirit – By focusing on this human trait, Strava has users that have
claimed to be “addicted” to their software, even coining new terms such as
"Strava-ing”.
• User Experience – Strava’s main focus is on gaining users by providing a
premium user experience at all levels. Users are not interrupted with paid ads
whether using the application for free or paying for the premium service.
With the recent focus on profitability, Strava has been working to expand its revenue
streams and currently has four streams in place:
• Premium Memberships $6.00 a month or $59 a year
• Sponsored Challenges
• Branded Merchandise
• Sale of Data
Strava is still a privately held company, and Horvath and Gainey are keen at
keeping their numbers private. However, in 2013, Horvath did slip letting interviewers
know they would hit ten million users within the next year (Loizos, 2013). With limited
data on their revenue, it is hard to place the company within the market, but they do share
investment data, which displays their popularity within the investment community.
3.5
12.6
18.5
0
2
4
6
8
10
12
14
16
18
20
2010 Jan-11 Jul-11 Oct-14
Amount (in Millions)
Investment Round
STRAVA Investment
Angel
Series A
Series B
Series D
Unknown
(Crunchbase, 2016)

54
Unforeseen Problems and Future Moves:
As with most companies, Strava has had unforeseen issues arise with its growth.
One of its core values has recently come into question with two deaths occurring, while
users have been competing to attain a KOM title. In 2010, the first death occurred with
William Flint being hit while speeding through an intersection and again in 2012 with
Chris Bucchere hitting and killing Sutchi Hui in a cross walk. While the 2012 case is not
currently aimed at Strava, the family of Flint is working to sue because of social media
posts before his attempt at the KOM title, which points to that being the reason for his
riding behavior. Strava never pictured this as coming from the use of their application
and has since updated their user agreements.
In 2016, Strava will continue with their focus on profitability. Horvath recently
stepped down due to his wife’s illness, leaving Gainey in charge. They are currently
testing different ideas with branded wear and accessories, as well as how to leverage their
data. When questioned on using ad revenue, Horvath wants to hold off as long as
possible as they do believe it will kill some brand trust if they bring in advertisements
(Loizos, 2013). With a track record similar to that of Facebook’s, Strava is set to become
the social media of athletes. Knowing the value of their data, we also may see more
strategic social partnerships that advocate for the rights of cyclists and runners alike as
Strava continues to grow.

55
Appendix H: Wireframing (Prototype at http://miicycle.co/mobile-app-
prototype/)

57
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changing-way-we-ride

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