Columbia B7739-002 Steve Blank Bob Dorf Day 5 - Advanced Entrepreneurship April 20, 2012
Aug 20, 2015
Welcome to Day 5!
Order of Presentations
1. Diagnosly
2. Factabase
3. eFood
4. Kadak (Tea Lab)
5. Mobile Marketing
6. Jiae
7. DEN (FavorNet)
8. TVM Technologies
9. Social Crowd
10. YSN
11. Table Compass (FidelEat)
12. Bakamba
13. Pulze
Quick Announcements
● Please sit with your team members● Name cards are helpful! Please continue to put them up ● Remember to sign in when the sheet is passed around● Please grade and provide comments to the other teams’ presentations
Each team will have 15 minutes to present and for Q&A
14 New (59 Total) Interviews
Thomas Jonathan Melissa Nina Tim Vladimir
Friday – Day 5
Diagnose your health from anywhere
Interviews
Industry Expert
Patient Provider Payer Mfg0
5
10
15
20
25
30
35
ThursdayWednesdayTuesdayMonday
5
• 15% Commission
DIAGNOSLY - Yesterday
• Provider engagement
• Device mfg relationships
• R&D• Customer
support• Payer Approval
Process
• Convenience of time and place
• Reduced cost for uninsured or high deductible plan subscribers
• Diagnostic and monitoring device OEMs
• Insurance networks
• Independent sales reps
• Healthcare Professional Staffed Remote Centers
• People (R&D)• Regulatory & Liability• Customer acquisition
• Testing fees (per test/kit)
• Engineers and designers
• Legal/Regulatory Knowledge (IP, FDA, HIPPA, etc)
• Reduced cost and increased quality of software
• Lower costs due to reduced visits, less fraud and consistent, comprehensive data
ConsumersFamilies (primarily subsequent mothers) in the pregnancy and early childhood phase + traveling families
Device MakersSmall/med, at-home monitors and diagnostic devices
PayersInsurance, Medicare, MedicaidProvidersGeneral Practitioners, Midwives, Nurses, Office Manager, Specialists (Pediatricians, OB/GYNs, vets etc)
• Improved patient outcomes
• Earn more money via focus on higher value procedures
Automated, Optional 24x7 Support
Automated, Optional SDK Support
• Indirect, trusted supplier
Corporate
• Physician / Clinics• Online
• Independent Sales Reps
• Free Beyond Provider Acquisition• Pay Per Click
• Testing fees (per test/kit)• Subscription
6
• 15% Commission and SPIFs
DIAGNOSLY - Thursday
• Provider engagement
• Device mfg relationships
• R&D• Customer
support• Payer Approval
Process
• Convenience of time and place
• Reduced cost for uninsured or high deductible plan subscribers
• Diagnostic and monitoring device OEMs
• Insurance networks
• Independent sales reps
• Healthcare Professional Staffed Remote Centers
• People (R&D)• Regulatory & Liability• Customer acquisition
• Testing fees (per test/kit)
• Engineers and designers
• Legal/Regulatory Knowledge (IP, FDA, HIPPA, etc)
• Reduced cost and increased quality of software
• Lower costs due to reduced visits, less fraud and consistent, comprehensive data
ConsumersFamilies (primarily subsequent mothers) in the pregnancy and early childhood phase + traveling families
Device MakersSmall/med, at-home monitors and diagnostic devices
PayersSelf Insured Companies, Insurance, Medicare, MedicaidProvidersGeneral Practitioners, Midwives, Nurses, Office Manager, Specialists
• Improved patient outcomes
• Earn more money via focus on higher value procedures
Automated, Optional 24x7 Support
Automated, Optional SDK Support
Indirect, trusted supplier
Corporate
• Physician / Clinics• Self-insured co’s
• Independent Sales Reps
• Marketing support for interest generation
• Testing fees (per test/kit)• Subscription
• Data acquisition fee
7
Payer Discussions
OTC: FSA & Insurance cannot reimburse OTC
CPT: Review indicates that some home diagnostics have data acquisition codes
A major reason companies self insure is that they can include this type of items in plan- Also likely to provide ready third party
MD/Nurse Hotline
CONFIDENTIAL 8
Diagnosly Ecosystem
Patients
Online Health Services (3rd Party)
DIAGNOSLY PLATFORM
Cloud & Data ServicesPhone,
Tablet, and Web
Applications
Medical Devices (OEMs)
Primary Physicians
PayersPharmacy
Remote MD/Nurseline
Independent Representatives
CONFIDENTIAL 9
Primary Archetype – Day in the lifeBefore Diagnosly
Heather, 36: 3rd time expectant mom
• 10pm: Noah (5 yrs) comes out to say that his throat hurts• Mom uses artery thermometer• Temperature is 101• Mom gives him Tylenol and lozenge, puts him back to bed
• 7am: Noah still complaining of sore throat, looks pale, swollen glands, fever still at 101
• 8am: Mom calls dr office as soon as it opens, makes appt for 11am
• Noah gets popsicle and watches TV with Ryan (3 yrs)• Mom calls school to let them know Noah won’t be there, calls
Ryan’s ju jitsu class to cancel for the day• 10:30am: Mom, Noah and Ryan go to drs office, wait 20 min in
waiting room, 20 min in exam room, take strep test, wait for results, get prescription called in (Noah and Ryan are VERY bored)
• Noon: Mom, Noah, and Ryan go to Walgreen’s to pick up prescription
• 12:30: Arrive home and give Noah antibiotic, take a Valium
CONFIDENTIAL 12
My Devices
Home Reports Inbox
3
My Devices
Ear Infection DetectorLast Used: 4/20/12
WheezOmeter (Asthma)Last Used: 4/15/12
Strep Throat TestLast Used: 3/25/12
ThermometerLast Used: 2/18/12
CONFIDENTIAL 15
Home Reports Inbox
3
My Devices
My Devices
2 Devices Found
Select Device to
Connect:
Ear Infection Detector
Strep Throat Test
CONFIDENTIAL 17
Ready to Begin Test
Home Reports Inbox
3
My Devices
My Devices
Start
Strep Throat TestLast Used: 3/25/12
CONFIDENTIAL 20
Home Reports Inbox
3
My Devices
My Devices
Test Complete
Your Results are Ready
View
Share
CONFIDENTIAL 21
Home Reports Inbox
3
Reports
My Devices
Strep Test Results4/20/12 11:05 AM EST
103 mcL
32 mcL
1343 c/
1535 c/
10
342 mg/
White Blood Cell
Red Blood Cell
Hemoglobin
Hierocratic
Platelets
Strep
Live Consult
CONFIDENTIAL 22
My Physicians
Home Reports Inbox
3
My Devices
Dr. Anne Miller, MDOB/GYN
Last Contact: 3/29/12
Dr. Steve Blank, MDEntrepreneurology
Last Contact: 4/20/12
Dr. Mike Johnson, MDPediatrician
Last Contact: 4/14/12
CONFIDENTIAL 23
Primary Archetype – Day in the lifeAfter Diagnosly
• 10pm: Noah (5 yrs) comes out to say that his throat hurts• Mom uses artery thermometer• Temperature is 101• Mom swabs his throat and does a Diagnosly Strep Test which
comes back positive• Diagnosly sends results to central server, runs confirmation
scan and calls in prescription to 24 hour pharmacy• Noah takes Tylenol and lozenge
• 10:30: Jason (dad) goes to pharmacy to pick up prescription• 11pm: Noah takes antibiotic
• Everyone goes to sleep• 8am: Mom calls Noah in sick to his school• 11am: Noah goes with Mom to watch Ryan’s ju jitsu class
CONFIDENTIAL 24
Adword Campaign • Signs of market
demand among
target segment.
(young parents)
• Signs of broader
demand for home
diagnostic tests.
CONFIDENTIAL 25
Sales FunnelA
war
enes
s
Inte
rest
Con
side
ratio
n Referrals
Cross-S
ell
Up-S
ell
Unbundling
Keep
Pur
chas
e
Consumers• Physician Recommendation (Partnerships)• Self-Insured Company Health Plan Recommendations
(Partnerships)• Viral in online mother’s groups (Earlyvangelists)
Providers• Independent Sales Force (Existing Relationships & Cold Calls)• Trade Journal Marketing• Professional Conferences
CONFIDENTIAL 26
Aw
aren
ess
Inte
rest
Con
side
ratio
n Referrals
Cross-S
ell
Up-S
ell
Unbundling
Keep
Pur
chas
e
Sales Funnel
Consumers• Recommendations from physician groups• Recommendations from other mothers• Targeted marketing campaign
Providers• Sponsored research and articles regarding improved
outcomes• Diagnosly forwards leads to independent reps
CONFIDENTIAL 27
Aw
aren
ess
Inte
rest
Con
side
ratio
n Referrals
Cross-S
ell
Up-S
ell
Unbundling
Keep
Pur
chas
e
Sales Funnel
Consumers• Ask physician for validation
Providers• Speak to independent reps• Review materials for medical validity• Provide free samples
CONFIDENTIAL 28
Aw
aren
ess
Inte
rest
Con
side
ratio
n Referrals
Cross-S
ell
Up-S
ell
Unbundling
Keep
Pur
chas
e
Sales Funnel
Consumers• Subscription or One Time Purchase• From physician, online, pharmacy
Providers• Indirect Sales Force
30
DIAGNOSLY - Monday
PatientsDevice Makers
PhysiciansPayers
Researchers
What they want:• Fewer hospital
visits (spend less time, and money)
• On-demand testing• Frequent testing• Access to test data• Integration with
other health data• Privacy, security
• R&D• Tech support• Partner sales &
support• Customer support
Problem / Need – 1. Medical diagnostic tests cannot be conducted effectively outside of a hospital or clinic.
• Diagnostic and monitoring device OEMs
• Lab-on-chip OEMs• Health networks• Testing labs• Clinical research
companies• Online health service
providers
Getting from them:• Hardware to conduct
diagnostic tests• Access to customers
Payment process
Giving them:• A platform• Mobile connectivity• Data mgmt• Integration with online
health ecosystem
• People (R&D)• Tech infrastructure• Customer acquisition
• Testing fees (per test)• Monthly subscriptions (freemium model)
• Online (direct)• Physicians• Hospitals• Clinics• Health
networks
• Industry experts• Engineers and
designers• IP experts• Privacy experts• Lawyers
1
3
2Get customers:• Partnerships• Online marketingKeep + Grow:• Quality service and• user experience
5
6 7
8
9
2. Developing and maintaining proprietary software for each device is expensive
3. Integrating patient data is hard
Key Features – Provide an easy way for
diagnostic devices to connect to the internet,
so that patients and physicians can run tests
and access their data from anywhere.
4
31
DIAGNOSLY - Tuesday
• R&D• Tech support• Partner sales &
support• Customer support
• Convenience of time and place
• Reduced cost for uninsured or high deductible plan subscribers
• Diagnostic and monitoring device OEMs
• Lab-on-chip OEMs• Health networks• Testing labs• Clinical research
companies• Online health service
providers
Getting from them:• Hardware to conduct
diagnostic tests• Access to customers
Payment process
Giving them:• A platform• Mobile connectivity• Data mgmt• Integration with online
health ecosystem
• People (R&D)• Tech infrastructure• Customer acquisition
• Testing fees (per test)• Monthly subscriptions (freemium model)
• Online (direct)• Physicians• Hospitals• Clinics• Health
networks
• Industry experts• Engineers and
designers• IP experts• Privacy experts• Lawyers
Get customers:• Partnerships• Online marketingKeep + Grow:• Quality service and• user experience
• Reduced cost and increased quality of software
• Lower costs due to reduced visits, less fraud and consistent, comprehensive data
ConsumersFamilies (primarily mothers) in the fertility testing, pregnancy, and early childhood phase
Device MakersMakers of at-home monitors and diagnostic devices
PayersInsurance, Medicare, Medicaid
ProvidersGeneral Practitioners, Midwives, Nurses
• Improved patient outcomes
• Earn more money via focus on higher value procedures
32
DIAGNOSLY - Wednesday
• Provider engagement
• Device mfg relationships
• R&D• Customer
support
• Convenience of time and place
• Reduced cost for uninsured or high deductible plan subscribers
• Diagnostic and monitoring device OEMs
• Insurance networks
• Independent sales reps
• People (R&D)• Customer acquisition• Regulatory & Liability
• Testing fees (per test/kit)
• Online• Independent
sales reps• Physicians /
Clinics
• Engineers and designers
• Legal/Regulatory Knowledge (IP, FDA, HIPPA, etc)
• Reduced cost and increased quality of software
• Lower costs due to reduced visits, less fraud and consistent, comprehensive data
ConsumersFamilies (primarily subsequent mothers) in the fertility testing, pregnancy, and early childhood phase
Device MakersSmall to medium makers of at-home monitors and diagnostic devices
PayersInsurance, Medicare, Medicaid
ProvidersGeneral Practitioners, Midwives, Nurses, Office Manager, Specialists (Pediatricians, OB/GYNs, vets etc)• Improved patient
outcomes• Earn more money via
focus on higher value procedures
Automated, Optional 24x7 Support
Automated, Optional SDK Support
Indirect, trusted supplier
Livestock ManagersCattle ranchers, horse farmers
Drug DevelopersBig Pharma, Biotechs
33
• 15% Commission
DIAGNOSLY - Thursday
• Provider engagement
• Device mfg relationships
• R&D• Customer
support• Payer Approval
Process
• Convenience of time and place
• Reduced cost for uninsured or high deductible plan subscribers
• Diagnostic and monitoring device OEMs
• Insurance networks
• Independent sales reps
• Healthcare Professional Staffed Remote Centers
• People (R&D)• Regulatory & Liability• Customer acquisition
• Testing fees (per test/kit)
• Engineers and designers
• Legal/Regulatory Knowledge (IP, FDA, HIPPA, etc)
• Reduced cost and increased quality of software
• Lower costs due to reduced visits, less fraud and consistent, comprehensive data
ConsumersFamilies (primarily subsequent mothers) in the pregnancy and early childhood phase + traveling families
Device MakersSmall/med, at-home monitors and diagnostic devices
PayersInsurance, Medicare, MedicaidProvidersGeneral Practitioners, Midwives, Nurses, Office Manager, Specialists (Pediatricians, OB/GYNs, vets etc)
• Improved patient outcomes
• Earn more money via focus on higher value procedures
Automated, Optional 24x7 Support
Automated, Optional SDK Support
Indirect, trusted supplier
Corporate
• Physician / Clinics• Online
• Independent Sales Reps
• Free Beyond Provider Acquisition• Pay Per Click
$$$
• Testing fees (per test/kit)• Subscription
34
• 15% Commission and SPIFs
DIAGNOSLY - Friday
• Provider engagement
• Device mfg relationships
• R&D• Customer
support• Payer Approval
Process
• Convenience of time and place
• Reduced cost for uninsured or high deductible plan subscribers
• Diagnostic and monitoring device OEMs
• Insurance networks
• Independent sales reps
• Healthcare Professional Staffed Remote Centers
• People (R&D)• Regulatory & Liability• Customer acquisition
• Testing fees (per test/kit)
• Engineers and designers
• Legal/Regulatory Knowledge (IP, FDA, HIPPA, etc)
• Reduced cost and increased quality of software
• Lower costs due to reduced visits, less fraud and consistent, comprehensive data
ConsumersFamilies (primarily subsequent mothers) in the pregnancy and early childhood phase + traveling families
Device MakersSmall/med, at-home monitors and diagnostic devices
PayersSelf Insured Companies, Insurance, Medicare, MedicaidProvidersGeneral Practitioners, Midwives, Nurses, Office Manager, Specialists
• Improved patient outcomes
• Earn more money via focus on higher value procedures
Automated, Optional 24x7 Support
Automated, Optional SDK Support
Indirect, trusted supplier
Corporate
• Physician / Clinics• Self-insured co’s
• Independent Sales Reps
• Marketing support for interest generation
• Testing fees (per test/kit)• Subscription
• Data acquisition fee
TEAM FACTABASE
Comprehensive Business Statistics on Developing Economies
Day 5: 6 Interviews (48 Survey)
Mary Leong, Alexis Farfaro, Calin Bota, Prosasty Chaudhuri, Bader AlKahtani
HYPOTHESIS TESTING
Channels
Hypothesis Experiment Finding
Interview / Survey
• There’s a need for a direct sales team
• Individual users will be acquired online through search engines
Revenue Streams
• Pricing and volumes Interview / Survey
Inconclusive / needs more thought
Customer Segments
• I-banks are the only segment within financial firms
• Professionals with per project needs (Entrepreneurs, Investors, etc…) are a segment interested in this
Interview / Survey
What are the most important costs inherent in our business model? Fixed? Variable?
1
3
4 2
5
6 7
8
9
Access to the most comprehensive and Detailed (hundreds of sources per country) database of curated industry statistics on developing markets.(Majority of which are not indexed on search engines & hidden on authority servers)
Convenience in access through Advanced Search; Export and Visualization options; Clear sourcing and real-time updates.
• Management Consultancies
• Investment Banks
• Market Research Firms
• Educational Institutes
• Professionals/Entrepreneur
• Automated Services
• Subscription model (comprehensive or sector/country specific)
• Per-table sale option
• API $xx per call
• National Statistics Offices
• Public Authorities
• International Organizations
• Companies that publish public statistics
• Collecting and preparing the statistical tables
• Development of automation software and webapps
• Customer acquisition and management
• Software/Web developers
• Research analysts• Data entry people• HR and admin• Business
Development• IT Infrastructure
• FTE, IT costs, Rent (Fixed)• Part time employee salaries, SEO (variable)
OUR BUSINESS MODEL CANVAS AT THE END OF DAY 3
• Direct Sales
• Online Sales
Pay as you go
What are the most important costs inherent in our business model? Fixed? Variable?
1
3
4 2
5
6 7
8
9
Access to the most comprehensive and Detailed (hundreds of sources per country) database of curated industry statistics on developing markets.(Majority of which are not indexed on search engines & hidden on authority servers)
Convenience in access through Advanced Search; Export and Visualization options; Clear sourcing and real-time updates.
• Management Consultancies
• Investment Banks and Commodity Traders
• Market Research Firms
• Educational Institutes
• Professionals/Entrepreneur
• Automated Services
• Subscription model (comprehensive or sector/country specific)
• Per-table sale option
• API $xx per call
• National Statistics Offices
• Public Authorities
• International Organizations
• Companies that publish public statistics
• Collecting and preparing the statistical tables
• Development of automation software and webapps
• Customer acquisition and management
• Software/Web developers
• Research analysts• Data entry people• HR and admin• Business
Development• IT Infrastructure
• FTE, IT costs, Rent (Fixed)• Part time employee salaries, SEO (variable)
OUR BUSINESS MODEL CANVAS AT THE END OF DAY 4
• Direct Sales
• Online Sales
Pay as you go
Still unclear how to approach individual users.
- 50% of respondents had an interest in business statistics on developing markets and ALL of which faced serious challenges getting access to them.
- From the people that faced challenges, the vast majority did not pay a subscription to a service if the tables they needed were on a premium service – However, when asked if they would be interested in premium tables sold on a per project basis, all were extremely excited about this offering.
- The expected prices per table were very diverse ranging from $10 to $200.
HYPOTHESIS TESTING
Channels
Hypothesis Experiment Finding
Interview / Survey
• There’s a need for a direct sales team
• Professionals would use their credit cards to buy a table - and expense it to their companies
Revenue Streams
• Pricing and volumes Interview / Survey
Inconclusive / needs more thought
Customer Segments
• Financial Services Firms are a segment on their own
• Individual users (i.e. individual professionals) are a segment
Interview / Survey
What are the most important costs inherent in our business model? Fixed? Variable?
1
3
4 2
5
6 7
8
9
Access to the most comprehensive and Detailed (hundreds of sources per country) database of curated industry statistics on developing markets.(Majority of which are not indexed on search engines & hidden on authority servers)
Convenience in access through Advanced Search; Export and Visualization options; Clear sourcing and real-time updates.
Companies and individuals with a need for detailed public statistics on Emerging Markets.
• Frequent - Consultancies - Universities
• Non-Frequent- Professionals- Entrepreneurs- Students/
Professors
• API access (special datasets)
• Automated Services
• Subscription model (comprehensive or sector/country specific)
• Per-table sale option
• API $xx per call
• National Statistics Offices
• Public Authorities
• International Organizations
• Companies that publish public statistics
• Collecting and preparing the statistical tables
• Development of automation software and webapps
• Customer acquisition and management
• Software/Web developers
• Research analysts• Data entry people• HR and admin• Business
Development• IT Infrastructure
• FTE, IT costs, Rent (Fixed)• Part time employee salaries, SEO (variable)
OUR BUSINESS MODEL CANVAS AT THE END OF DAY 3
• Direct Sales
• Online Sales
Pay as you go
What are the most important costs inherent in our business model? Fixed? Variable?
1
3
4 2
5
6 7
8
9
Access to the most comprehensive and Detailed (hundreds of sources per country) database of curated industry statistics on developing markets.(Majority of which are not indexed on search engines & hidden on authority servers)
Convenience in access through Advanced Search; Export and Visualization options; Clear sourcing and real-time updates.
Companies and individuals with a need for detailed public statistics on Emerging Markets.
• Frequent - Consultancies - Universities
• Non-Frequent- Professionals- Entrepreneurs- Students/
Professors
• API access (special datasets)
• Automated Services
• Subscription model (comprehensive or sector/country specific)
• Per-table sale option
• API $xx per call
• National Statistics Offices
• Public Authorities
• International Organizations
• Companies that publish public statistics
• Collecting and preparing the statistical tables
• Development of automation software and webapps
• Customer acquisition and management
• Software/Web developers
• Research analysts• Data entry people• HR and admin• Business
Development• IT Infrastructure
• FTE, IT costs, Rent (Fixed)• Part time employee salaries, SEO (variable)
OUR BUSINESS MODEL CANVAS AT THE END OF DAY 4
• Direct Sales- No VP of Sales,
personal prospection from founder for key accounts
- Sales admin• Online Sales for
individual professionals (paypal and credit card)
Pay as you go
What are the most important costs inherent in our business model? Fixed? Variable?
1
3
4 2
5
6 7
8
9
Access to the most comprehensive and Detailed (hundreds of sources per country) database of curated industry statistics on developing markets.(Majority of which are not indexed on search engines & hidden on authority servers)
Convenience in access through Advanced Search; Export and Visualization options; Clear sourcing and real-time updates.
• Automated Services
• Subscription model (comprehensive or sector/country specific)
• Per-table sale option
• API $xx per call
• National Statistics Offices
• Public Authorities
• International Organizations
• Companies that publish public statistics
• Collecting and preparing the statistical tables
• Development of automation software and webapps
• Customer acquisition and management
• Software/Web developers
• Research analysts• Data entry people• HR and admin• Business
Development• IT Infrastructure
• FTE, IT costs, Rent (Fixed)• Part time employee salaries, SEO (variable)
OUR BUSINESS MODEL CANVAS AT THE END OF DAY 4
• Direct Sales- No VP of Sales,
personal prospection from founder for key accounts
- Sales admin• Online Sales for
individual professionals (paypal and credit card)
Pay as you go
• Management Consultancies
• Investment Banks and Commodity Traders
• Market Research Firms
• Educational Institutes
• Professionals/Entrepreneur
“Access through an
excel interface is very
important”
HYPOTHESIS TESTING
Channels
Hypothesis Experiment Finding
Interview / Survey
• There’s a need for a direct sales team
• Individual users will be acquired online through search engines
Customer Segments
Revenue Streams
• Financial Services Firms are a segment on their own
• Individual users (i.e. individual professionals) are a segment
• Pricing and volumes ??
Interview / Survey
Interview / Survey
Inconclusive / needs more thought
• Focusing on priority segments:– Management Consultancy, 100+ consultants– Investment Banking, 500+ employees
850 accounts$86 million spent on databases with potential for growth
Based on census generalized to world
+ interviews
FACTABASE: $13 million
Based on $50/table or $15,000/subscription
+ interviews
MARKET SIZE AND REVENUE HYPOTHESIS
What are the most important costs inherent in our business model? Fixed? Variable?
1
3
4 2
5
6 7
8
9
• Management Consultancies
• Investment Banks and Commodity Traders
• Market Research Firms
• Educational Institutes
• Professionals/Entrepreneur
• Automated Services• National Statistics
Offices
• Public Authorities
• International Organizations
• Companies that publish public statistics
• Collecting and preparing the statistical tables
• Development of automation software and webapps
• Customer acquisition and management
• Software/Web developers
• Research analysts• Data entry people• HR and admin• Business
Development• IT Infrastructure
• FTE, IT costs, Rent (Fixed)• Part time employee salaries, SEO (variable)
OUR BUSINESS MODEL CANVAS AT THE END OF DAY 4
• Direct Sales- No VP of Sales,
personal calls from founder for key accounts
- Sales admin• Online Sales for
individual professionals
Unique access to valuable official statistics on developing economies in a Convenient, Reliable and Cost effective way
Per-table sale option (with pay as you go option for large accounts)
Factabase
What are the most important costs inherent in our business model? Fixed? Variable? How do we make money? What’s the revenue
model? Pricing tactics?
FILL OUT ALL 9 BOXES OF THE CANVAS IN ORDER 1 THUR 9
1
3
4 2
5
6 7
8
9
A one stop shop for all public statistics on the GCC.
A top notch user interface with export options
Advanced Charting tools
Monthly Reports
Management Consultancies
Local Companies
International Companies interested in the region
Direct Sales
Online Sales
• Personal Assistance
• Self Service
• Subscription service based on:• Duration of use • Coverage of content
• National Statistics Offices
• Public Authorities
• International Organizations
• Companies that publish public statistics
• Collecting and preparing the statistical tables
• Development of automation software and webapps
• Customer acquisition and management
• Software/Web developers
• Research analysts• Data entry people• HR and admin• Business
Development• IT Infrastructure
• FTE, IT costs, Rent (Fixed)• Part time employee salaries, SEO (variable)
FACTABASE
What are the most important costs inherent in our business model? Fixed? Variable? How do we make money? What’s the revenue
model? Pricing tactics?
FILL OUT ALL 9 BOXES OF THE CANVAS IN ORDER 1 THUR 9
1
3
4 2
5
6 7
8
9
Enhancing access to public statistics on emerging markets that often have issues relating to:1) Availability:
Believed to be non existent or are difficult to find.
2) Convenience: Require multiple steps to prepare them for use and/or compare multiple tables from multiple sources.
Through a user friendly one-stop setting with easy search, visualization and export options.
Companies and individuals with a need for detailed public statistics on Emerging Markets.
• Frequent and comprehensive (Financial services, consulting, Media, Universities and R&D)
• Frequent and sector/country specific (Ad Agencies and Market Research)
• Non-frequent and comprehensive (Individuals or Students)
• Non-frequent and sector/country specific (Entrepreneurs, International investors)
• Online
• Direct Sales
• Automated Services
• Personal assistance
• Co-creation
• Subscription model (comprehensive or sector/country specific) for premium tables
• Per-table sale options for premium tables• Ad-based model for free tables• API access for application developers• Special pricing for customized reports
• National Statistics Offices
• Public Authorities
• International Organizations
• Companies that publish public statistics
• Collecting and preparing the statistical tables
• Development of automation software and webapps
• Customer acquisition and management
• Software/Web developers
• Research analysts• Data entry people• HR and admin• Business
Development• IT Infrastructure
• FTE, IT costs, Rent (Fixed)• Part time employee salaries, SEO (variable)
What are the most important costs inherent in our business model? Fixed? Variable?
1
3
4 2
5
6 7
8
9
Enhancing access to public statistics on emerging markets that often have issues relating to:1) Availability:
Believed to be non existent or are difficult to find.
2) Convenience: Require multiple steps to prepare them for use and/or compare multiple tables from multiple sources.
Through a user friendly one-stop setting with easy search, visualization and export options.
Companies and individuals with a need for detailed public statistics on Emerging Markets.
• Frequent(Consultancies)
• Non-Frequent(Financial Services, Entrepreneurs, Individuals, News Agencies)
• API access (special datasets)
• Online
• Direct Sales
• Automated Services
• Subscription model (comprehensive or sector/country specific)
• Per-table sale option
• API $xx per call
• National Statistics Offices
• Public Authorities
• International Organizations
• Companies that publish public statistics
• Collecting and preparing the statistical tables
• Development of automation software and webapps
• Customer acquisition and management
• Software/Web developers
• Research analysts• Data entry people• HR and admin• Business
Development• IT Infrastructure
• FTE, IT costs, Rent (Fixed)• Part time employee salaries, SEO (variable)
OUR BUSINESS MODEL CANVAS AT THE END OF DAY 1; FOCUSED CUSTOMER SEGMENTS, RELATIONSHIPS, CHANNELS AND REVENUE STREAMS
What are the most important costs inherent in our business model? Fixed? Variable?
1
3
4 2
5
6 7
8
9
Access to the most comprehensive and Detailed (hundreds of sources per country) database of curated industry statistics on developing markets.
(Majority of which are not indexed on search engines & hidden on authority servers)Convenience in access through Advanced Search; Export and Visualization options; Clear sourcing and real-time updates.
Companies and individuals with a need for detailed public statistics on Emerging Markets.
• Frequent - Consultancies
• Non-Frequent- Professionals- Entrepreneurs- Students/
Professors
• Automated Services
• Per-table sale option
• National Statistics Offices
• Public Authorities
• International Organizations
• Companies that publish public statistics
• Collecting and preparing the statistical tables
• Development of automation software and webapps
• Customer acquisition and management
• Software/Web developers
• Research analysts• Data entry people• HR and admin• Business
Development• IT Infrastructure
• FTE, IT costs, Rent (Fixed)• Part time employee salaries, SEO (variable)
OUR BUSINESS MODEL CANVAS AT THE END OF DAY 2; FOCUSED CUSTOMER SEGMENTS, RELATIONSHIPS, CHANNELS AND REVENUE STREAMS
• Direct Sales
• Online Sales
Pay as you go
What are the most important costs inherent in our business model? Fixed? Variable?
1
3
4 2
5
6 7
8
9
• Automated Services
Per-table sale option (with pay as you go option for large accounts)
• National Statistics Offices
• Public Authorities
• International Organizations
• Companies that publish public statistics
• Collecting and preparing the statistical tables
• Development of automation software and webapps
• Customer acquisition and management
• Software/Web developers
• Research analysts• Data entry people• HR and admin• Business
Development• IT Infrastructure
• FTE, IT costs, Rent (Fixed)• Part time employee salaries, SEO (variable)
OUR BUSINESS MODEL CANVAS AT THE END OF DAY 3
• Direct Sales
• Online Sales
• Management Consultancies And Investment Banks
• Market Research Firms
• Educational Institutes
• Professionals/Entrepreneur
Unique access to valuable official statistics on developing economies in a Convenient, Reliable and Cost effective way
What are the most important costs inherent in our business model? Fixed? Variable?
1
3
4 2
5
6 7
8
9
• Management Consultancies
• Investment Banks and Commodity Traders
• Market Research Firms
• Educational Institutes
• Professionals/Entrepreneur
• Automated Services• National Statistics
Offices
• Public Authorities
• International Organizations
• Companies that publish public statistics
• Collecting and preparing the statistical tables
• Development of automation software and webapps
• Customer acquisition and management
• Software/Web developers
• Research analysts• Data entry people• HR and admin• Business
Development• IT Infrastructure
• FTE, IT costs, Rent (Fixed)• Part time employee salaries, SEO (variable)
OUR BUSINESS MODEL CANVAS AT THE END OF DAY 4
• Direct Sales- No VP of Sales,
personal calls from founder for key accounts
- Sales admin• Online Sales for
individual professionals
Unique access to valuable official statistics on developing economies in a Convenient, Reliable and Cost effective way
Per-table sale option (with pay as you go option for large accounts)
Your Groceries… in the 21st Century
170 interviews + 15 partner meetings + Google ads + survey + website visits
Jyotsna Gianluigi Kerli Brian Dimitar Camilla
www.efood-global.com
Number of hits: 100Google Ads hits: 0
Competitive Landscape
Recipe and online shopping solutions exist - > millions of users
No inventory and integrated solutions!Co-opetition – Clear interest from retailers
5 million downloads
Road Testing• 42 Usability Tests
– 76% - Yes! – 50% - willing to pay
• $ 1.50 - $ 5.00
• Web Survey – 86% - Yes!– 70 % - willing to pay
Insights• Weekly meal plans• Single guys a potential customer segment • «Dial-a-Chef» - > «Impress the Date!»• Link to social media • My Recipe Book (add and edit)
Revenue & CostsRevenue (2 Sided Platform)• Consumers: Free App (Users in year 500K))
• Advertising Revenue ($ 3-4 /1000 impression)• Commission on retail orders
(starting in month 7th – 4-5% of online sales)
Costs• Research & Development ($200K)
• Sales and Marketing (10% of sales)
Key Learnings• You must get out of the building - you WILL
discover the unexpected• It is OK to Pivot • It’s challenging to work in a newly formed
team under the time pressure• Communication is critical
E-Food
• End-users:- Single households (students / young professionals)- Family busy mums- Seniors• Small HoReCa
businesses (restaurant chain)
• Platform management
• Platform promotion
• Marketing & sales tool
• Providing direct access to information on consumption behaviour of users
• Increased loyalty through benefit to users
• Grocery Distributors to stores / horeca sector
• Apple / Android Platforms
• University campuses (tech clubs)
• OEM hardware manufacturers
• Platform management and development• Customer acquisition costs• Cost for service premium users • transaction fees on online purchases
(from supermarkets) • add revenues
• Sales force
• Platform • Customer base• Human resources
1
3
2
5
67
8
9
• Save time (finding and delivery)• Reduce costs (waste, best deals)• Diet advisory • Recipes management & recommendations
• Automated services4
• Grocery Retailers • Distributors (Food)
• Basic app is for free• Selling smartphone apps and extra services - freemium • Selling hardware (scanning devices)
• Smartphone apps market
• web sales• Household appliance
store for scanners (Premium users)
• Automated mass customization based on past consumption patterns & reccomendation analyses
End user
FMCG retailers
Multi-sided platforms
DAY 1
E-Food
Online and Offline End-users:- Family busy mums / working fulltime - Higher income - Willing to pay for convenience (headspace)
• Platform development & management
• Platform promotion\
• Marketing & sales tool
• Providing direct access to information on consumption behaviour of users
• Increased loyalty through benefit to users
• Grocery Distributors to stores / horeca sector
• Apple / Android Platforms
• University campuses (tech clubs)
• OEM hardware manufacturers
• Delivery company (fresh direct)
• Content providers
• Platform management and development• Customer acquisition costs• Cost for service premium users • transaction fees on online purchases
(from supermarkets) • add revenues
• Sales force
• Platform • Customer base• Human resources• Software developers• Partners relationship
managers
1
3
2
5
67
8
9
• Save - time - money• Value added - Diet advisory - Recipes management
• Automated services4
• Grocery Retailers • Distributors (Food)
• Basic app is for free• Selling smartphone apps and extra services - freemium • Selling hardware (scanning devices)
• Smartphone apps market
• web sales• Household appliance
store for scanners (Premium users)
• Automated mass customization based on past consumption patterns & reccomendation analyses
End user
FMCG retailers
Multi-sided platforms
DAY 2
Key Insight: CUSTOMER DEMAND for inventory app??YES! – KEEP GOING!!
Key Changes:Refine customer segment and value proposition
• Automated services• Dedicated manager
• Online and Offline End-users:
• - Family busy mums / working fulltime
• - Higher and medium income
• - Willing to pay for convenience (headspace)
• People who cook at home and buy at least something online
• Platform development & management
• Platform promotion
Marketing & sales tool:• new customers• Increase revenues• information on
consumption behaviour
• Increased loyalty
• Grocery Distributors to stores / horeca sector
• Apple / Android Platforms
• Delivery company (fresh direct)
• Content providers (recipes)
• BeVinco• Quantified self
• Platform management and development• Customer acquisition costs• Cost for service premium users • transaction fees on online purchases
(from supermarkets) • add revenues
• Direct sales force
• Platform • Customer base• Software developers• Partners relationship
managers• Content development and
management
1
3
2
5
67
8
9
• Save - time - money• Value added - Diet advisory management - Recipes • Home cooking service
4
• Grocery Retailers • Distributors (Food)
• Basic app is for free• Selling smartphone apps and extra services - freemium • Selling hardware (scanning devices)
• On-line retailers• myvirtualpantry.com• Smartphone apps• web sales• Household appliance
store for scanners (Premium users)
• Automated and targeted mass customization based on past consumption patterns &, reccomendation analyses
End user
FMCG retailers
Multi-sided platforms
DAY 3HoReCa
Key Insights: PUPIL DILATING INTEREST and WTP for inventory + recipesApp converts in store customers online
Key Changes:Identified key potential retail partner (Bevinco)Understood our B2B value proposition.
Redefined customer segment
Automated Service (Smartphone App and Website)
• Time Conscious• Tech Friendly• Cook at homeNB. Trackers (Early evangelists)
• Platform development & management
• Platform promotion
Generate Sales, expand retailers customer base and avg. shopping basket
• Retailers (Physical & Online)
• Apple / Android Platforms
• Content providers (Recipes etc.)
• Platform management and development• Customer acquisition costs• Cost for service premium users Sales commissions on retail orders
• Software developers• Partners relationship
managers• Content management
1
3
2
5
67
8
9
• Save time & effort by Tracking, Deciding on & Buying Groceries
• Eat Better
4
Physical Retailers Online Retailers
• Two tier Smartphone App pricing : Lite = Free, Pro = $1.99 (Limited time free promo)
• Selling hardware (scanning devices)
Direct App Store
In –person dedicated (Relationship Manager)
Consumers DAY 4Advertisers
In-person dedicated(Ad sales)
Indirect Partner StoresDirect Advertisers
Deliver targeted Advertising
Display ads, recommendations
MULTI-SIDED PLATFORM
Advertiser
Retailers
Key Insights: Concept validatedCustomers willing to scan / record inventory
Sales delivery partners are NOT small retailersOpportunity to integrate Advertising channel
Key Changes:Pivot to TRACK – DECIDE – BUY (not recipe service)
Refined revenue model: Paid App, revenue sharing with large retailer, advert revenue.
Automated Service (Smartphone App and Website)
• Time Conscious• Tech Friendly• Cook at homeNB. Trackers (Early evangelists)
• Platform development & management
• Platform promotion
Generate Sales, expand retailers customer base and avg. shopping basket
• Large retailers (Physical & Online) (Freshdirect, Dagostino’s Eden Garden)
• Apple / Android Platforms
• Content providers (Recipes etc.)
• Platform management and development ($200k)• Customer acquisition costs • Cost for service premium users Sales commissions on retail orders
• Software developers• Partners relationship
managers• Content management
1
3
2
5
67
8
9
• Save time & effort by Tracking, Deciding on & Buying Groceries
• Eat Better• Social
4
Physical Retailers Online Retailers
• FREE APP• Two tier Smartphone App pricing : Lite =
Free, Pro = $1.99 (Limited time free promo)• Selling hardware (scanning devices)
Direct App Store
In –person dedicated (Relationship Manager)
Consumers DAY 5Advertisers
In-person dedicated(Ad sales)
Indirect Partner StoresDirect Advertisers
Deliver targeted Advertising
Display ads, recommendations
MULTI-SIDED PLATFORM
Advertiser
Retailers
Key Insights: Users loved the appDesire for extended soft user functionality
Interest from large retail partners
Key Changes:Free App
Automated Service (Smartphone App and Website)
• Time Conscious• Tech Friendly• Cook at homeNB. Trackers (Early evangelists)
• Platform development & management
• Platform promotion
Generate Sales, expand retailers customer base and avg. shopping basket
• Large retailers (Physical & Online) (Freshdirect, Dagostino’s Eden Garden)
• Apple / Android Platforms
• Content providers (Recipes etc.)
• Platform management and development ($200k)• Customer acquisition costs
Sales commissions on retail orders
• Software developers• Partners relationship
managers• Content management
1
3
2
5
67
8
9
• Save time & effort by Tracking, Deciding on & Buying Groceries
• Eat Better• Social
4
Physical Retailers Online Retailers
FREE APP
Direct App Store
In –person dedicated (Relationship Manager)
Consumers FINAL CANVASAdvertisers
In-person dedicated(Ad sales)
Indirect Partner StoresDirect Advertisers
Deliver targeted Advertising
Display ads, recommendations
MULTI-SIDED PLATFORM
Advertiser
Retailers
Adeem FensterShashi Shrimali
Stella ChanSanjay Bharadwaj
Richard JamesNeeraj Lal
Total Interviews: 242 to date (21 in person + 42 online + 3 mall visits + 2 store manager interviews yesterday + BUILT A WEBSITE!)
Authentic Asia Tea T4U
Like the idea 86%
Hate the idea 2%
I wish the idea were...
13%
Testing the Kiosk Concept
Coffee 19%
Cold tea drinks
22%
Food 28%
Pastries 24%
Other 8%
What are we missing?
Setting how long I want my tea to boil
Something else...
Having someone make the tea for me
A lounge to hang out and enjoy my tea
Remebering the way I made my tea so I don't have to do it again
Choosing the tea leaves that I want
10%
10%
24%
41%
41%
59%
What's most important?
Abso-lutely 49%Maybe
33%
No way 10%
Only if... 8%
Would you buy?
Validation but still needs improvement…
How will we Get, Keep and Grow Customers?
• Consistent quality• Increase product variety • loyalty program tea card• word-of-mouth from students
(campuses)• Tea cart promotion via
Facebook or Tweeter• Tea tasting event to collect
customer feedback (via iPad)
Kadak – 04/16/2012
Who are our most important customers?• repeat customers, Asian-
immigrants consumers• health conscious customers
What are their archetypes?
• The Indian• The rising teen• Healthy parents• Undergrads• Baby-boomers
What Job do they want us to get done for
them?• make the tea (incl. picking
the best ingredients)• education of tea
What Key Activities do we require?
• Purchasing raw material• Brewing tea• Setting up retail outlets• Advertising, & marketing• Setting up customer feedback
channel and analysis• Business development with
campuses• Product mix creation• FP&A management• Hiring
Which of our customer’s problems
are we helping to solve?• consumer have limited access
to authentic Asian tea in a retail format
Which customer needs are we satisfying?
• Desire to consume authentic Asian tea outside home
What are the Key Features of our product that match customers
problem/need?• taste of our tea (quality)• the availability of tailored
flavor • speed of delivery• convenience
Who are our Key Partners?
• Indian stores and Asian stores
• Eventually tea makers• Indirect distribution
through -- subway, panda express
Who are our key suppliers?
• Indian store from NJ• Chinese stores from
Chinatown• Grocery stores such as
Wal-mart• Restaurant
utensils/hardware suppliers
What are we getting from them? Giving
them?• Milk, sugar, Splenda, tea
leaves, cups, spices, pots/pans
• MONEY, more revenue
What are the most important costs inherent in our business model?
Fixed• Rent• Equipment, furniture and fixtures Variable• Raw materials & supplies• Employee salaries
How do we make money? What’s the revenue model? Pricing tactics?
• Low Intro promotion price to attract customers($1.99)• Keep the price close to Starbucks thereafter• Never price below breakeven even during promotion period• Find ways to give them discounts (survey --- buzz discounts)
Through which Channels do our
Customer Segments want to be reached?
• direct retail• direct-to-home
delivery
What Key Resources we require?
• Money• Retail outlets• POS system to track sales• SAP system for accounting• License from NY / Campus
approval• HR for hiring & training• Tea brewing equipment
1
3
4 2
5
6 7
8
9
How will we Get, Keep and Grow Customers?
• Consistent quality• Increase product variety • loyalty program tea card• word-of-mouth from students
(campuses)• Tea cart promotion via
Facebook or Tweeter• Tea tasting event to collect
customer feedback (via iPad)
Kadak – 04/17/2012 (morning)
Who are our most important customers? repeat customers,
Asian-immigrants consumers
• health conscious customers
What are their archetypes?
• The Indian • The rising teen• Healthy parents• Undergrads• Baby-boomers
What Job do they want us to get done for
them?• make the tea (incl.
picking the best ingredients)
• education of tea
What Key Activities do we require?
• Purchasing raw material• Brewing tea• Setting up retail outlets• Advertising, & marketing• Setting up customer feedback
channel and analysis• Business development with
campuses• Product mix creation• FP&A management• Hiring
Which of our customer’s problems
are we helping to solve?• consumer have limited
access to authentic Asian tea in a retail format
Which customer needs
are we satisfying?• X Desire to consume
authentic Asian tea outside home
What are the Key Features of our product that match customers
problem/need?• taste of our tea
(quality)• the availability of
tailored flavor • speed of delivery• convenience
Who are our Key Partners?
• Indian stores and Asian stores
• Eventually tea makers• Indirect distribution
through -- subway, panda express
Who are our key suppliers?
• Indian store from NJ• Chinese stores from
Chinatown• Grocery stores such as
Wal-mart• Restaurant
utensils/hardware suppliers
What are we getting from them? Giving
them?• Milk, sugar, Splenda, tea
leaves, cups, spices, pots/pans
• MONEY, more revenue
What are the most important costs inherent in our business model?
Fixed• Rent• Equipment, furniture and fixtures Variable• Raw materials & supplies• Employee salaries
How do we make money? What’s the revenue model? Pricing tactics?
• Low Intro promotion price to attract customers($1.99)• Keep the price close to Starbucks thereafter• Never price below breakeven even during promotion period• Find ways to give them discounts (survey --- buzz discounts)
Through which Channels do our
Customer Segments want to be reached?
direct retail/franchise model
• direct-to-home delivery
What Key Resources we require?
• Money• Retail outlets• POS system to track sales• SAP system for accounting• License from NY / Campus
approval• HR for hiring & training• Tea brewing equipment
1
3
4 2
5
6 7
8
9
How will we Get, Keep and Grow Customers?
• Unique, customized tea, their way
• Consistent quality• Increase product variety • loyalty program TEA I.D.
Tea Lab – 04/18/2012
Who are our most important customers?
• repeat customers
• health conscious customers
• Customers looking for a fun new experience
What are their archetypes?
• The Indian • The rising teen• Healthy parents• Undergrads• Baby-boomers
What Job do they want us to get done for
them?• Custom tea their way!• Fun/unique ingredients• make the tea (incl. picking the
best ingredients)• education of tea• cool place to hang out
What Key Activities do we require?
• Purchasing raw material• Brewing tea• Setting up retail outlets• Advertising, & marketing• Setting up customer feedback
channel and analysis• Business development with
campuses• Product mix creation• FP&A management• Hiring
Which of our customer’s problems are we helping
to solve?
• consumer don’t have access to quality tea outside the home
• Formula/proportions are off
Which customer needs
are we satisfying?
• Tea the “way I like it” outside the home
• Cool experience / social setting for tea
• Tea w/out tea bags
What are the Key Features of our product that match customers
problem/need?
• taste of our tea (quality)• Experience• the availability of tailored flavor
• speed of delivery• Convenience
Who are our Key Partners?
• Indian stores and Asian stores
• Eventually tea makers• Indirect distribution
through -- subway, panda express
Who are our key suppliers?
• Indian store from NJ• Chinese stores from
Chinatown• Grocery stores such as
Wal-mart• Restaurant
utensils/hardware suppliers
What are we getting from them? Giving
them?• Milk, sugar, Splenda, tea
leaves, cups, spices, pots/pans
• MONEY, more revenue
What are the most important costs inherent in our business model?
Fixed• Rent• Equipment, furniture and fixtures Variable• Raw materials & supplies• Employee salaries
How do we make money? What’s the revenue model? Pricing tactics?
• Online sales for home consumption• Data – based on the TEA ID card!
• Keep the price close to Starbucks thereafter
• Never price below breakeven even during promotion period• Find ways to give them discounts (survey --- buzz discounts)
Through which Channels do our
Customer Segments want to be reached?
• Teal lab stores
• direct-to-home delivery
• Online
What Key Resources we require?
• Money• Retail outlets• POS system to track sales• SAP system for accounting• License from NY / Campus
approval• HR for hiring & training• Tea brewing equipment
1
3
4 2
5
6 7
8
9
How will we Get, Keep and Grow Customers?
• Unique, customized tea, their way
• Consistent quality• Increase product variety • TEA I.D.• word-of-mouth from
students (campuses)• Tea tasting event to collect
customer feedback (via iPad)
Tea Lab – 04/19/2012
Who are our most important customers?
repeat customers health conscious
customers Customers looking for a
fun new experience
What are their archetypes?
The rising teen Healthy parents Undergrads
What Job do they want us to get done for
them?
Custom tea their way! Fun/unique ingredients make the tea (incl. picking
the best ingredients) education of tea cool place to hang out
What Key Activities do we require?
Purchasing raw material BRAND – Tea Lab Brewing tea Setting up retail outlets Advertising, & marketing Setting up customer feedback
channel and analysis• Business development with
campuses• Product mix creation• FP&A management• Hiring
Which of our customer’s problems
are we helping to solve?
consumer don’t have access to quality tea outside the home
Formula/proportions are off
Which customer needs
are we satisfying?
Tea the “way I like it” outside the home
Tea w/out tea bags Cool experience / social
setting for tea
What are the Key Features of our product that match customers
problem/need?
Taste of our tea (quality) The availability of tailored
flavor Speed of delivery Convenience Experience
Who are our Key Partners?
• Indian stores and Asian stores
• Eventually tea makers• Indirect distribution
through – franchises in airports, hotels? subway, panda express
Who are our key suppliers?
• Indian store from NJ• Chinese stores from
Chinatown• Grocery stores such as
Wal-mart Tea merchants Kiosk manufacturers Restaurant
utensils/hardware suppliers
What are we getting from them? Giving
them? Milk, sugar, Splenda, tea
leaves, cups, spices MONEY, more revenue
What are the most important costs inherent in our business model?
Fixed Rent Equipment, furniture and fixturesVariable Raw materials & supplies Employee salaries
How do we make money? What’s the revenue model? Pricing tactics?
• Online sales for home consumption• Data – based on the TEA ID card!• Keep the price close to Starbucks thereafter• Never price below breakeven even during promotion period• Find ways to give them discounts (survey --- buzz discounts)
Through which Channels do our
Customer Segments want to be reached?
• Tea lab stores• direct-to-home delivery• Online
What Key Resources we require?
• Money• Retail outlets• POS system to track sales• SAP system for accounting• License from NY / Campus
approval• HR for hiring & training• Tea brewing equipment
1
3
4 2
5
6 7
8
9
Tea lab kiosks
• Unique, customized tea, their way
• Consistent quality• Increase product
variety • TEA I.D.
• Tea Pots
Tea Lab – 04/20/2012
Mall shoppersrepeat customershealth conscious
customersCustomers looking
for a fun new experience
The rising teen Healthy parents Undergrads
Custom tea their way! Fun/unique ingredients Have us make your tea education of tea cool place to hang out
Purchasing raw material BRAND – Tea Lab Brewing tea Setting up kiosks Advertising, & marketing Setting up customer
feedback channel and analysis
• Product mix creation• Hiring + training
consumer don’t have access to quality tea outside the home
Formula/proportions
are off
Tea the “way I like it” outside the home
Taste of our tea (quality)
The availability of tailored flavor
Remember me Experience Cool experience /
social setting for tea
• Tea manufactures
• Mall managers• Other raw
material suppliers
Kiosk manufacturers
Restaurant utensils/hardware suppliers
Milk, sugar, Splenda, tea leaves, cups, spices
Equipment
FixedRentEquipment, furniture and fixturesVariableRaw materials & suppliesEmployee salaries
• Mall kiosks• Online sales for home consumption• Flagship store• Data – based on the TEA ID card!
• Tea lab kiosks• Flagship store
• Money• Custom kiosks• POS system to track
I.D• HR for hiring &
training• Tea brewing
equipment
1
3
4 2
5
6 7
8
9
Walk in with an idea
End of day 2
End of day 1
End of day 3
End of day 4
Walking away with tools to grow any plant
Our Journey in this class ……
BeginningDay 1
MOBILE MARKETINGMarketing campaign designed for delivery to cell phones, smart phones and other media devices.
Team members: Alex Goncharuk Jorge Melgar Hasan Shahid Broor Spahr van der Hoek
Interviews: 22 restaurants, 17 customers, 2 channel partner, 2 telecom, 2 medical,
Customer Discovery
Phase 1Phase 2
Phase 3 Phase 4
State HypothesesRestaurants have a marketing problemCustomers don’t like to receive random mobile marketing (i.e. SMS, email)
RestaurantsCustomers
Test the Problem2 interviews with owners14 interviews with customers
Test the SolutionWeb-based mobile marketing toolApp that allows them to choose what they receive
Verify or PivotPivotVerified
Restaurant SegmentsFine dining - Always full- Dedicated marketer
Midlevel prime location- Generally full- Part-time marketer
Midlevel neighborhood
Low restaurants - No budget
- Income subject to weekly and monthly seasonality
- Dependent on loyal customers sales
- Low margins don’t allow high discounts
- Mixed results from digital marketing- Fear of implementing new
technologies
Customer SegmentsAge 20-25- Price, location, quality- Website
Age 26-35- Quality, decor- Zagat, word of mouth
Age 35-45- Quality- Zagat
Age 45+- Quality, clean- Known restaurants
- Interest in receiving opt-in mobile marketing information
- Location based restaurant info
- Initial interest in getting an app that gives the quality, price and promotions
Market Size- Restaurant expenses in the mid
level range for marketing/discounting is within $750-$1,000
- Assuming a 30% market share and a fixed monthly fee of $200 annual revenue is $6.2M
Product Diagram
Data
Data Application
Pay Bill
Receipt
Registration (email)WEB/
MOBILE PORTAL
Marketing Promotions
(web)Push / Pull Promotions
(mobile)
Point of Sale
Marketing ApplicationPortal with
Promotions
Targeted Campaigns
Web PortalCustomers Statistics
- Sales- Average Expenditure- Frequency
Marketing summary - Subscribers- Consumption patterns- Promotion Results
Mobile Marketing Day 1
Most important customers?
Small businesses(or Telecoms,
marketing agencies?)
What are their archetypes?
Companies that would want to use mobile marketing
servicesJob they want us
to get done?Deliver msg to end-customer through
platform
Key Activities do we require?
Software development, data
analysis
Problems solved:- Allow customers to develop and execute mobile marketing campaigns (based on interactive access with end users)
Needs satisfied:- Efficient low-cost communication with end consumers
Key features?- Simple standardized Web-based software tool allowing use of SMS, QR codes and NFC
Who are our Key Partners? Telecoms
Who are our key suppliers?
Telecoms, search engines
What are we getting from them? Giving
them?Phone numbers/
short code, advertising
Important costs? Fixed? Variable?Software (technology) development, (fixed)
marketing/sales (variable)
Subscription fee, campaign fee and performance-based fee?
Which Channels? Online (trade fairs?)
What Key Resources we
require?People, IT
infrastructure (data center)
1
3
4 2Get/keep/Grow
Customers?Low-cost platform that is effective and quickly
shows results (switching costs for
telecoms and marketing)
5
6 7
8
9
Mobile Marketing Day 2
Restaurants want to minimize the dependency on discounters
Restaurant want to run local marketing campaign ( 2 mins breakfast , cheap bagel after 11am, …)
Key Activities do we require?
Marketing Campaign
templates, Software development,
relationship building
- Restaurants to reduce sales fluctuations
- Restaurants to engage customers
Who are our Key Partners?
Online advertisement
Who are our key suppliers?
Telecoms, search engines
What are we getting from them? Giving
them?Message delivery
services
Important costs? Fixed? Variable?Software (technology) development, (fixed)
marketing/sales (variable)
Fee per marketing campaign, monthly subscription fee
Which Channels? Online
What Key Resources we
require?People, IT
infrastructure (data center)
1
3
4 2Get/keep/Grow
Customers?
- Low-cost platform- Marketing Campaign
Templates
5
6 7
8
9
- Cheap and an effective way of reaching the customers
- Reaching local customer (location based)
Mobile Marketing Day 3
Restaurants want to minimize the dependency on discountersRestaurant want to run local marketing campaign ( 2 mins breakfast , cheap bagel after 11am, …)
- Mid pricing level restaurants in neighborhood areas
Key Activities do we require?
Marketing Campaign templates, Software
development, relationship building
- Restaurants to reduce sales fluctuations
- Restaurants to engage customers
- Cheap and an effective way of reaching the customers
- Reaching local customer (location based)
- Increase customers without affecting existing sales
Who are our Key Partners?
Online advertisement
review webpagesrestaurants
Who are our key suppliers?
Telecoms, search engines
What are we getting from them? Giving
them?Message delivery
services Quality information
Important costs? Fixed? Variable?Software (technology) development, (fixed)
marketing/sales (variable)
Fee per marketing campaign, monthly subscription fee Fee based on effectiveness
Which Channels? Online, app, loyalty
programs
What Key Resources we
require?People, IT
infrastructure (data center)
1
3
4 2Get/keep/Grow
Customers?- Low-cost platform
- Marketing Campaign Templates
5
6 7
8
9
- Filter incoming “discount” info
- Receive restaurant information (price, quality) if you are in an unknown place
- People between 30-45 years
- People in an unknown area
Free
Mobile Marketing Day 4
- Mid priced level restaurants
Build and Support marketing Campaign templates
Website and Mobile App development
Relationship building
- Increased profit
- Increased customer loyalty- Restaurants databases
- Online advertisement- Review websites- Restaurants
- search engines
Important costs? Fixed? Variable?Software (technology) development, (fixed)
marketing/sales (variable)
Campaign fee, Subscription
- Piggy back on loyalty program- Restaurant databases websites
People, IT infrastructure,
Telecom Infrastructure,Marketing Strategies
for Restaurants
1
3
4 2- Provide cheaper alternative
to discounter websites- Customizable marketing
program
5
6 7
8
9
- Filtered promotion information
- Local and timely promotions
- Age group 30-45 years- Travellers
Free
- Filtered access to local deals
- App store- visited restaurants
Mobile Marketing Day 5
Mid priced level restaurants
Website and Mobile App development Marketing & Sales
‘Tailored’ marketing to existing customers
New customer acquisition
Expenditure analysis
Increase profitIncrease customer
loyalty
Merchant processing service provider
Software (technology) development(fixed), marketing/sales (variable), IT Infrastructure(fixed/variable)
Campaign fee, Monthly Subscription fee
- Direct sale People, IT infrastructure, Payment Processing Network
1
3
4 2 Functionality Demo
Switching cost
5
6 7
8
9
Targeted promotion information
Age group 30-45 years
Free
Economic benefit Reward program
Web portal, Visited restaurants, App store
- Restaurants databases- Online advertisement- Review websites- Restaurants- search engines
Build and Support marketing Campaign templatesRelationship building
Telecom Infrastructure,Marketing Strategies for Restaurants
Provide cheaper alternative to discounter websitesCustomizable marketing program
- Piggy back on loyalty program- Restaurant databases websites
Local and timely promotions
4
Travellers
Summary
Payment terminal as a client data aggregation point Acquisition and activation points
High cost of customer(restaurants) acquisition Targeting new and existing clients Rewarding the existing clients, target high spenders
provide spenditure statistics that drives targeted marketing campaigns
Payment Processor as a KEY Partner
Next Steps …
Jiae.com: Interest based platform for creative minds in ChinaTeam: Deymon Chen, Yu Guo(Hugh), Mathias Rosenthal, James Hagen
12 Fashion Bloggers Interviews + 12 Top Designers Surveys1 digital Marketing Domain Expert
2012.04.20 - Day 5
Potential Partners with 4 Leading Design Schools
Total Numbers Up to Day: 780
Survey 3: Western Fashion/Designer Content?
Designer like Western Fashion/Design Content, However, - they are either blocked 50%- or not be translated into Chinese 33.3%
New Vision:Great Design should have no boundaries: It can transcend borders, language, traditions, culture, and even the aging of time. It speaks directly to a person’s heart
I like it, most of them are translated, 16.7%
No Interest 0%Read English, but Blocked 50%
Read Chinese, need translation 33%
• Main objective of blogger is to increase visibility• Did not realize content was blocked in China• All interested in tapping into the Chinese Market but don’t know
how• All interested in partnering with a site that would handle
translation and elegantly display content
Key learning from Western Fashion Bloggers
• Just returned from China, and exploring innovative ways to expand visibility there
• Eager to see our site, and very interested
• Willing to provide a feed of original content from multiple design discipline
• Design Schools could be key content providers and advertisers
Key learning from Leading Design Schools
Customers Acquisition Cost
• Fashion Bloggers: $1450/Fashion Blogger x 100 = $180000• $2.1/Design students x 163000 = $345000• $0.77/End users X 750000 = $580000
Collect and Share Ideas
Tools for Design School
Targeted Ads Space
Find Good Designers
Design Market Places
Top Designers
Design School
Design Media
Government
Web Partners
Companies/Brands
Platform Management
Customer Acquisition
Expanding Reach
Platform
Customer Base
Brand
Network
Platform Costs
Customer Acquisition Costs
Marketing and Sales Costs
Advertising
CPS (click per sales) and Design Products Sales
Free Interest Based Network
Acquisition
Activation
Retention
Jiae.com
1300 Design Schools
Design Union Sites
SNS Sites (weibo, renren)
Designers
Design schools
Consumers
Companies
Advertiser
Day 1 Business Canvas for Jiae
•Photo based nice and clean SNS platform
•More Traffic
•Top Designers Design School Design MediaGovernmentWeb PartnersCompanies/Brands
•Platform Management•Customer Acquisition•Expanding Reach
•Platform•Customer Base•Brand•Network
Platform Costs
Customer Acquisition Costs
Marketing and Sales Costs
Advertising
Design Marketplace
•1:1 Customer Support
•China Photo Related sites•China SNS Sites - weibo, renren, qq, douban
•Fashion Bloggers
•Find, organized and share inspiration Ideas effectively (Designers)
•Find jobs/projects (Designers)
•Showcase Portfolios for Feedback
•Find Good Designers (Companies)
•Design Marketplaces (All Customers)
•Designers
•Consumers•Companies •Advertiser•D-School Ambassador
•1300 Design Schools•Design Message Boards
•Jiae.com
Free Interest Based SNS Platform
•Community Management
Day 2 Business Canvas for Jiae (1 fashion blogger, 9 students interviews)
•Collect and Share Ideas Tools for Design School•Targeted Ads Space •Find Good Designers•Design Market Places
•AcquisitionActivationRetention
•Photo based nice and clean SNS platform
•More Traffic •Easy to Share•Statistics Tool
•Platform Management•Customer Acquisition•Expanding Reach
•Platform•Customer Base•Brand
Platform Costs
Customer Acquisition Costs
Marketing and Sales Costs
Advertising, Sponsorships, Deign Services
Click Per Sales , Design Marketplace
•1:1 Customer Support
•China Photo Related sites•China SNS Sites - weibo, renren, qq, douban
•Fashion Bloggers
•Find, organized and share inspiration Ideas effectively
•Find jobs/projects •Showcase portfolios for feedback , big Space
•Target Ad Space•Find Good Designers•Promotion Opportunity•Sales Channels•Design Marketplaces
•Designers
Companies
• Advertising
• Sponsorship
• Design Services
• Click Per Sales
•D-School Ambassador
•1300 Design Schools•Design Message Boards
•Jiae.com
Freemium Free Interest Based SNS Platform
Day 3 Business Canvas for Jiae (4 companies, 2 fashion bloggers, 3 designers interviews)
•End Users Consumers
•Fashion Medias
•Design School•Government •Design Associations
•Traffic Partners
•Online B2C Partners
•Consumers•Companies •Advertiser
•Community Management
•Image based nice and clean SNS platform
•More Traffic •Easy to Share•Statistics Tool
•Platform Management•Customer Acquisition•Expanding Reach
•Platform•Customer Base•Brand
Platform Costs
Customer Acquisition Costs
Marketing and Sales Costs
Advertising, Sponsorships, Deign Services
Click Per Sales , Design Marketplace
•1:1 Customer Support
•China Photo Related sites•China SNS Sites - zcool, weibo, renren, qq, douban
•Fashion Bloggers
•Find, organized and share inspiration Ideas effectively Rich/Fresh Content
•Find jobs/projects Image Based Content
•Showcase portfolios for Expert Feedback big Space
•Target Ad Space•Find Good Designers•Promotion Opportunity•Sales Channels•Design Marketplaces
•Designers
Companies
• Advertising
• Sponsorship
• Design Services
• Click Per Sales
•D-School Ambassador
•1300 Design Schools•Design Message Boards
•Jiae.com
Freemium Free Interest Based SNS Platform
•End Users Consumers
•Fashion Medias
•Design School•Government •Design Associations
•Traffic Partners
•Online B2C Partners
Day 4 Business Canvas for Jiae (12 Interviews, 410 Survey, MVP)
•Image based nice and clean SNS platform
•More Traffic •Easy to Share•Statistics Tool, Translation
•Platform Management•Customer Acquisition•Expanding Reach
•Platform•Customer Base•Brand
Platform Costs
Customer Acquisition Costs ($1.1 million for 100 fashion
bloggers, 160k students, 750000 designers)
Advertising, Sponsorships, Deign Services
Click Per Sales , Design Marketplace
•1:1 Customer Support
•China Photo Related sites•China SNS Sites - zcool, weibo, renren, qq, douban
•Fashion Bloggers
•Find, organized and share inspiration Ideas effectively Rich/Fresh Content
•Find jobs/projects Image Based Content
•Showcase portfolios for Expert Feedback big Space
•Target Ad Space•Find Good Designers•Promotion Opportunity•Sales Channels•Design Marketplaces
•Designers
Companies
• Advertising
• Sponsorship
• Design Services
• Click Per Sales
•D-School Ambassador
•1300 Design Schools•Design Message Boards
•Jiae.com
Freemium Free Interest Based SNS Platform
Day 5 Business Canvas for Jiae (12 Interviews, 12 Survey, 4 Design Schools)
•End Users Consumers
•Fashion Medias
•Design School•Government •Design Associations
•Traffic Partners
•Online B2C Partners
FAVORNETplatform for exchanging high-value favors
16 INTERVIEWS 81TOTAL OVER 4 DAYS
Dave Spezzano, Alexey Okhlopkov, Amy Villari, Steve Alperin, Dmitri Dyakin
key findings:value to favor doer • reduce time spent doing favors• prioritize response order & probability based on profile of requester• increase likelihood of paybackvalue to connector• validate requester & quality of connection• reduce time of making introduction• tangible benefit from fulfilled favors (what is it? % of transaction?
explore)• status in network• goodwill (can this be distributed?)value to requester• obvious reasons
challenges:trust barrier • possible solutions:
– aggregate existing social data (#/type connections, online behavior)– user scores, reviews, ratings, rankingsNEXT STEP: ENGINEER TO DESIGN FUNCTIONALITY (KEY RESOURCE)
monetizing behavior• from customer discovery, we learned that
FAVORS ≠ SERVICES
I do / receive for other reasons:-Goodwill / karma-Social expectation
I get paid / I’m willing to pay
NEXT STEP: EXPERTISE IN BEHAVIORAL PSYCHOLOGY (KEY RESOURCE)
favor, as we define it…..
• high value• would require the receiver to go through extraneous
effort to achieve without the doer• allows access to otherwise inaccessible areas of life
– contacts (business & social)– services & products– information & expertise
…..but how do we differentiate ourselves?
Why people give and receive favors?Who? Why? Benefit? Why Online?
Person in need of a favor
No other way to get “it” done
Extended network to areas not available before
My direct network is limited (1st degree)
Delivering a favor for a cause
Monetize favor for a belief I hold Philanthropy Larger market to
raise awareness
Delivering a favor for a trade
Monetize favor for myself
Created value on something that only had value to holder
Create a bidding/auction market where none currently exists
Delivering a favor to help others
Feel good about myself
Extended network to areas not available before
Reach those outside my network
Delivering a favor for self gratification
Raise my profile and status
Self serving; serve the individuals ego
Express my status to others visually
tradeafavor.com
• Stuck in “re-launch” as of mid-2011• < 13,000 users, ~130 views per day• [In 2007] we made the strategic decision to
build the prototype as an application for the new Facebook platform
• It’s a social application, we kept saying, and it needs a social network to run on
• Limited to barter without monetary valueTIMING IS EVERYTHING
charity buzz
• $15 m revenues, $3 m EBITDA• No integration with other social media sites;
doesn’t leverage information of user• According to a VC: “it’s a nice little business”
SCALE IS CRITICAL
what they miss (if we had more time…)
• scale– TEST SOLUTIONS: build an app, partner, disrupt
• not all favors are equal– TEST SOLUTIONS: rank, rate, monetize; incentivize doer & not just
requester
• high-end is very small segment– TEST SOLUTIONS: broad segment (everyone online with a LinkedIn &
facebook profile)
• value to connectors as a segment– TEST SOLUTIONS: rank, rate, monetize; incentivize connector; test value
of status
problems/issues that still need to be addressed• incentives
– best way to attract customers to use– how do we incentivize givers to connect with receivers?
• moving a behavior from an offline to an online– gain trust of users– maintain security and intimacy of behavior– associate emotion and reaction in a virtual world
• over saturation– integrate with other online platforms– leverage existing networks/platforms/user base
FAVORNET
Search
Who Are You?
Mission StatementRecent Favors TestimonialsCategories AffiliationsHome
Site Schematic
Who are you?
• Need a favor• Give a favor for charity• Favor for trade• Favor to help• Favor for gratification
• What you can offer?
• What you need?
• Who can you match me with?
(Search Box for Favors)
(Dropdown)
• Peer verification• Match through
Networks• Search key words• Favor score from
previous review information
• Compatibility test
Categorization• Introductions• Events• Experiences• Quick hits
Connection
How does it work?
• Select Category• Select a favor• Broker deal
Exchange Occurs
Following Exchange receiver gives peer
rating on execution/delivery/
usefulness
Peer ratings create trust and provide credibility to the source
Peer rating is then delivered to social
stream of networks
Option to push out
Steve needs help with (fill in the blank) for a client outing . No one in Steve’s immediate network has access or can help. Steve posts on FavorNet. Joe responds he can help but asks for something or nothing in return. Following the completion of the transaction, Steve peer rates Joe on his ability to deliver.
After the Exchange
CANVAS 1.1
People who need high quality information and services and have trouble finding it.
Business builders, salesmen, anyone who has ever looked for a connection once removed from their closest circle--Reduce the friction to finding info, help me get value from what I do for others and what I know.
Seeding the high level community, Software development, business development,
--People have trouble finding expert, reliable, verified information.
--People spend huge amounts of time displaying expertise with no tangible benefit
--A marketplace to match buyers and sellers--Simple easy way to aggregate postings about expertise--Scoring/ranking for reliability.
?
Alumni groups, Networking groups, (build to suit..potential white label service)
Outsourced engineering teams, We get paid to increase bonds between members ,make crucial offline activity more efficient. Allow monetization of expertise.
Scalable marketplace business. MVP engineering/hosting/design costs are fixed. Feature set build are variable..build to spec
for partners?
--Free to join and use– then transaction fee, listing fee, fee for top tier circles
--Velvet rope, leaky door policy--Affinity groups
Goodwill,Brand, User Propagation
1
3
4 2Tap communities already transacting offline or chaotically
5
6 7
8
9
CANVAS 1.2 CHANGES IN RED
--PEOPLE WHO NEED ACCESS & FAVORS FOR BUSINESS OR PERSONAL USE
--PEOPLE WHO PROMOTE THEIR BUSINESS THROUGH CONTENT
--PEOPLE WHO WANT TO STENGTHEN TIES WITH CONNECTIONS
Seeding the high level community, Software development, business development,
-- HELP PEOPLE EXCHANGE ACCESS & FAVORS THAT ARE IMPORTANT.
--Help people get more benefit from their digital marketing content
--A marketplace to match buyers and sellers--HELP PEOPLE BUILD TRUSTED CONNECTIONS
?
Alumni groups, Networking groups, (build to suit..potential white label service)
Outsourced engineering teams, We get paid to increase bonds between members ,make crucial offline activity more efficient. Allow monetization of expertise.
Scalable marketplace business. MVP engineering/hosting/design costs are fixed. Feature set build are variable..build to spec
for partners?
--POINT SYSTEM TO EXCHANGE VALUE & GOODWILL--Free to join and use– then transaction fee, listing fee, fee for top tier circles
--Velvet rope, leaky door policy--Affinity groups
--Goodwill,--HIGH LEVEL
ACCESS
1
3
4 2Tap communities already transacting offline or chaotically
5
6 7
8
9
CANVAS 1.3 CHANGES IN RED
--PEOPLE WHO NEED AND PROVIDE ACCESS & FAVORS FOR BUSINESS OR PERSONAL USE
--PEOPLE WHO PROMOTE THEIR BUSINESS THROUGH CONTENT
--PEOPLE WHO WANT TO STENGTHEN TIES WITH CONNECTIONS
Seeding the high level community, Software development, business development,
-
--IMPROVED WAY TO BUILD TRUST & VERIFICATION
--DISCOVERY & VALIDATION OF 2nd DEGREE CONNECTIONS
--SAFE ENVIROMENT FOR PERSONAL EXCHANGE
--HELP PEOPLE EXCHANGE ACCESS & FAVORS THAT ARE IMPORTANT.
?
Alumni groups, Networking groups, (build to suit..potential white label service)
Outsourced engineering teams, We get paid to increase bonds between members ,make crucial offline activity more efficient. Allow monetization of expertise.--LINKEDIN, FACEBOOK, OTHER NETWORKS (UNLESS WE SCALE OURSELVES)
Scalable marketplace business. MVP engineering/hosting/design costs are fixed. Feature set build are variable..build to spec
for partners?
--TIP JAR / PAY-WHAT-YOU-WANT--FEE FOR GIFTING AS THANK YOU--POINT SYSTEM TO EXCHANGE GOODWILL FOR $$--PREMIUM ADVERTISING (MAYBE – HARD MODEL)--transaction fee, listing fee, fee for top tier circles
--Velvet rope, leaky door policy--Affinity groups
--Goodwill,--HIGH LEVEL ACCESS--WELL CONNECTED PEOPLE
1
3
4 2Tap communities already transacting offline or chaotically
5
6 7
8
9
CANVAS 1.4 CHANGES IN RED
PROFESSIONALS (HHI, WELL-EDUCATED) WITH ACCESS TO HIGH-VALUE, HARD-TO-OBTAIN CONTACTS, SERVICES & PRODUCTS WHO DO AND RECEIVE FAVORS OFFLINE
1) REQUESTERS2) DOERS3) CONNECTORS
Seeding the high level community, Software development, business development,
EFFICIENT, TRUSTED ONLINE PLATFORM FOR TRANSACTING FAVORS
IMPROVED WAY TO BUILD TRUST & VERIFICATION ONLINE
DISCOVERY & VALIDATION OF 2nd DEGREE CONNECTIONS
IMPROVE CYCLE TIME OF ASKING FOR & DOING FAVORS
Alumni sites - TEST MVP HERE
LINKEDIN, FACEBOOK, GOOGLE+, TWITTER
Scalable marketplace business. MVP engineering/hosting/design costs are fixed. Feature set build are variable..build to spec
for partners?
--PAY-WHAT-YOU-WANT, FEE FOR GIFTING--POINT SYSTEM TO EXCHANGE GOODWILL FOR $$--PREMIUM ADVERTISING--transaction fee, listing fee, fee for top tier circles
--Velvet rope, leaky door policy--Affinity groups
1) ENGINEERS2) BEHAVIORAL PSYCHOLOGY EXPERTS (ON-/OFFLINE)3) EARLYVANGELISTS
1
3
4 2IMPROVE EXPERIENCE OF OFFLINE CUSTOMERS
5
6 7
8
9
key learning: VALUE of fulfilling human social need
• value propositions come in two forms: they solve a problem or they fulfill a human social need
• Social Needs are friendship, dating, sex, entertainment, art, communication, blogs, confession, networking, gambling, religion, etc.
• they have always been fulfilled face-to-face• they are now moving on-line• the market size for these applications equals the
entire human race• these are the ultimate applications
Advanced EntrepreneurshipApril 20, 2012
Brian VogtDoug Carlson
Mohamed MaimouniAG Crum
Gabriel GilesSameer Kotak
FOR DAY 5: 32 IN-PERSON INTERVIEWSConsumersRetailers: Macy´s, Geox, Saks, Cole Haan, Lord & Taylor, Boticelli, David Z.
46 Online survey responses +81 In-person interviews
58 end-users10 retail6 medical4 brands3 design & mfg
TEAM TVM
Brian VogtDoug Carlson
Mohamed MaimouniAG Crum
Gabriel GilesSameer Kotak
EMBA NY, BS EngineeringEMBA NY, BS EngineeringEMBA Berkely/CU, Fashion EMBA NY, BS InfoSysEMBA NY, BS/MS EngineeringEMBA NY, BS/MS Pharma
OPPORTUNITIES‘’BREATHING SHOES’’
MARKETGROWING SUCCESS OF
BRANDED COMPONENTS EMERGING
TECH-STYLE TREND
$1.1B $260M SOLD OUT!
DISCOVERYHYPOTHESIS TEST RESULT
• End-users• Retailers• Med providers
Branded component
$400 retail
All men’s dress and bus casual
Own shoe brand • Online retail partner
• Brands• Designers• Manufacturers
• End-users• Retailers
$249 retail+ accessories
• General comfort• Medical
SEGMENT:
CHANNEL:
PRICING:
ARCHETYPES
Description: 35 Affluent male
VALUE PROP:General comfort,
clean and controlled ventilation for shoes
Description: Suffering
(Eg. Hyperhydrosis, Pernio)
VALUE PROP:Alternative, discrete, controlled option to
existing costly therapies
GENERAL COMFORT MEDICAL CONDITION
Most important? Men, dress &
business casual
Archetypes? Stuck in closed shoes during work-day with
changing environments
Job to get done? Enable comfort and productivity
Activities? Customer input, IP filings, beta development, ,
suppliers
Customer’s problems? End-users: foot sweat, hot, cold.
Partners: differentiation
Customer needs? Comfort, medical / Profitability growth
Product features? Battery powered
shoe sole ventilation, cooling,
heating
Partners? Shoe mfg.'s / branders by
region , development
Suppliers?Component
mfg.'s, Ventiva
Getting? Technology,
manufacturing Giving?
Differentiation and price
Inherent in our model? Variable material, mfg overhead
Making money & pricing model?$50 mfg’ed, 100 soles, 200 shoes, 400 retail
Reach segments? Established partner retail
outlets (brick & mortar)
Resources? Development partner, seed
funding
1
3
4 2Get, keep, grow? End-users: PR, branded captivity
Partners: Convince of
unique value for end-users
5
6 7
8
9
Day 1 Canvas
Day 2 Canvas
Day 1 -- Key Learnings
CUSTOMER SEGMENTS• Identified three distinct segments
VALUE PROPOSITIONS• Identified additional value prop.
Day 3 Canvas
Day 2 -- Key Learnings
CUSTOMER SEGMENTS• Refined three distinct segments
VALUE PROPOSITIONS• Identified value propositions for
each segment• Price differentiation for a range of
feature sets• Price differentiation for each
segment
CHANNELS• Identifying channels for each
segment
Day 4 Canvas
Day 3 -- Key Learnings
CUSTOMER SEGMENTS• Refined focus to “General
Comfort” segment• Developed a phased segment
rollout strategy
CHANNELS• Switched to Online Retail and
kiosks for our General Comfort segment
PARTNERS• Switched from selling
components to brands to making whole shoes
Day 5 Canvas
Day 4 -- Key Learnings
CUSTOMER SEGMENTS• Prioritized General Comfort• Dropped Tech Lovers (for now)• Clarified that target segments
were for men only
CHANNELS• Switched to Online Retail for all
segments• “To try is to buy”
VALUE PROPOSITION• Identified the need for strong
designs by a notable designer• Confirmed $199-$249 as the
pricing sweet spot
PARTNERS• Equity partnership with Chinese
manufacturing consortium
Medical Condition
General ComfortOnline Retailer
Kiosks
Designer
Manufacturer
TVM ECOSYSTEM
Property Managers
$
$
$
$
$
$
Brand Development
Most important? Men, dress &
business casual
Archetypes? Stuck in closed shoes during work-day with
changing environments
Job to get done? Enable comfort and productivity
Activities? Customer input, IP filings, beta development, ,
suppliers
Customer’s problems? End-users: foot sweat, hot, cold.
Partners: differentiation
Customer needs? Comfort, medical / Profitability growth
Product features? Battery powered
shoe sole ventilation, cooling,
heating
Partners? Shoe mfg.'s / branders by
region , development
Suppliers?Component
mfg.'s, Ventiva
Getting? Technology,
manufacturing Giving?
Differentiation and price
Inherent in our model? Variable material, mfg overhead
Making money & pricing model?$50 mfg’ed, 100 soles, 200 shoes, 400 retail
Reach segments? Established partner retail
outlets (brick & mortar)
Resources? Development partner, seed
funding
1
3
4 2Get, keep, grow? End-users: PR, branded captivity
Partners: Convince of
unique value for end-users
5
6 7
8
9
Day 1 Canvas TVM Tech
Day 2 Canvas
Most important? Men, dress & business
casual
Archetypes? (1) Sought med
(2) UnSought med(3) Tech ‘comfort’
Job to get done? Enable comfort and productivity
Activities? Customer input, IP filings, beta development, ,
suppliers
Customer’s problems? End-users: foot sweat, hot, cold,
fatigue.Partners:
differentiation
Customer needs? Comfort, medical / Profitability growth
Product features? Battery powered
shoe sole ventilation, cooling, heating, massage
Partners? Shoe mfg.'s / branders by
region , development
Suppliers?Component
mfg.'s, Ventiva
Getting? Technology,
manufacturing Giving?
Differentiation and price
Inherent in our model? Variable material, mfg overhead
Making money & pricing model?$40 mfg’ed, 80 soles, 200 shoes, 400 retail
400 retail250 retail
Reach segments? Established partner retail
outlets (brick & mortar)
Resources? Development partner, seed
funding
1
3
4 2Get, keep, grow? End-users: PR, branded captivity
Partners: Convince of
unique value for end-users
5
6 7
8
9
TVM Tech
Day 1 -- Key Learnings
Customer Segments• Identified three distinct
segments
Value Propositions• Identified additional value
propositions
Day 3 Canvas TVM Tech
Active Seekers (1) Sought med
Activities? Customer input, IP filings, beta development, ,
suppliers
Partners? Shoe mfg,
manufacturing
Inherent in our model? Variable material, mfg overhead
Making money & pricing model?$40 mfg’ed, 80 soles, 200 shoes, 400 retail
400 retail250 retail
Resources? Development partner, seed
funding
1
3
4 2Get, keep, grow? End-users: PR, branded captivity
Partners: Convince of
unique value for end-users
5
6 7
8
9
Passive Sufferers
(2) UnSought med
Tech Lovers 3) Tech ‘comfort’
• Mitigate hyperhidrosis
•Low effort solution
• Foot comfort• Discreteness
• Cool factor• Foot comfort
• Medical catalogs• Referrals
?
Established partner retail
outlets
Suppliers?Component
mfg.'s, Ventiva
Getting? Technology,
manufacturing
Giving? Differentiation
and price
Day 2 -- Key Learnings
Customer Segments• Refined three distinct segments
Value Propositions• Identified value propositions for
each segment• Price differentiation for a range
of feature sets• Price differentiation for each
segment
Channels• Identifying channels for each
segment
Day 4 Canvas TVM Tech
Active Seekers Activities?
Customer input, IP filings, beta development, ,
suppliers
Partners? Shoe mfg,
manufacturing
Inherent in our model? Product development, variable costs,
online retail, kiosks, SG&A
Making money & pricing model?$40 mfg’ed, 80 soles, 200 shoes, 400 retail
400 retail $250 retail
Resources? Development partner, seed
funding
1
3
4 2Get, keep, grow? End-users: PR, branded captivity
Partners: Convince of
unique value for end-users
5
6 7
8
9
General Comfort
Tech Lovers ’
• Mitigate hyperhidrosis
•Low effort solution
• Foot comfort• Discreteness
• Cool factor• Foot comfort
• Medical catalogs• Referrals
Online Retail, Kiosks
Established partner retail
outlets
Suppliers?Component
mfg.'s, Ventiva
Getting? Technology,
manufacturing
Giving? Differentiation
and price
Day 3 -- Key Learnings
Customer Segments• Refined focus to “General
Comfort” segment• Developed a phased segment
rollout strategy
Channels• Switched to Online Retail and
kiosks for our General Comfort segment
Partners• Switched from selling
components to brands to making whole shoes
Day 5 Canvas
Medical Condition
ActivitiesMarketing, R&D,
Design
Partners Shoe
manufacture
Inherent in our model?
Product development, variable costs, online retail, kiosks, SG&A
Making money & pricing model?
$199 – $249 retail
$100 – $125 wholesale
ResourcesSeed money,
Engineering talent, Established designer,
Chinese partner
TVM Tech
1
3
4 2Get, keep, grow Informational
Website, testimonials,
kiosks, 30-day guarantee,
customer svc
5
6 7
8
9
General Comfort
• Relief from significant
medical conditions
• Foot comfort• Cool factor
• Style
Online Retail Partner
SuppliersComponent
Electronics & Footwear
GettingTechnology,
manufacturing
Giving Differentiation
and price
Men, 25-45
jerry sanders Group 14
159
[Social Crowd]An online platform helping local communities to thrive
4/16: 12 interviews (5 Investors; 7 Businesses)4/17: 15 interviews (3 Investors; 12 Businesses)4/18: 3 interviews (3 Community Groups)4/19: 18 interviews
Total: 48 interviews
jerry sanders Group 14
160
Monday
“Neighborhood” shops who need $
for their business but also “do good” for their community.
People who want to invest in their local
community while also getting a return on their investment.
Project management, renovation, software.
Shop owners who want to renovate their building & needs both
cash & expertise (renovation, project
management, …) but also providing them for
a “supply” of customers as the
business is starting.
People investing $ and in their local
community, satisfying their desire for a return on $ but also to invest
in their local community.
Key partners and suppliers are people
from the construction/
renovation industry
We get know-how/expertise & we give them …
work!
Web platform, program management and technical support Brokerage fee, licensing, advertising
Media, social media, direct contact,
chamber of commerce
Financial, physical, technical, HR
FILL OUT ALL 9 BOXES OF THE CANVAS IN ORDER 1 THUR 9
1
3
4 2Direct contact and
social media. Retaining and
growing customers will be a challenge.
5
6 7
8
9
jerry sanders Group 14
161
Tuesday
Finders:Individuals & groups seeking investment opportunities that provide (i) requisite returns and (ii) a direct benefit to a local community.
Grinders:Start-ups and locally owned businesses seeking capital investments of $10K-$2M
One-off:- Platform design
Ongoing:- Screening- Marketing- IT maint. & support- New market ID
An online ‘matchmaking’ forum where F&G connect.
Finders: Investment efficiency through a screening process that ensures only the top ideas are posted.
Grinders: Access to small amounts of capital typically hard to acquire through institutional routes.
- Independent business organizations
- Community funding institutions
- Local business school alumni
- Personal connections
- Local business activists
Value-driven: Most important costs include:- Web platform development- IT management & technical support- Marketing & customer acquisition- Application review costs (experts)
Dual revenue structure:- Finders Fee (2% of consummated deal value)- Grinders Fee ($250 application review fee)
- Direct contact through website
- Local news & PR channels
- Word of mouth
- Customer d/base- Proprietary
knowledge- Brand copyright- Site skin: look, feel
FILL OUT ALL 9 BOXES OF THE CANVAS IN ORDER 1 THUR 9
1
3
4 2- Semi-automated - Local community-
focused
5
6 7
8
9
jerry sanders Group 14
162
Wednesday
One-off:- Platform design
Ongoing:- Screening- Marketing- IT maint. & support- New market ID
An online ‘matchmaking’ forum where F&G connect.
- Independent business organizations
- COMMUNITY INTEREST ORGS
- Community funding institutions
- Local business school alumni
- Personal connections
- Local business activists
Value-driven: Most important costs include:- Web platform development- IT management & technical support- Marketing & customer acquisition- Application review costs (experts)
Dual revenue structure:
- Direct contact through website
- Local news & PR channels
- Word of mouth
- Customer d/base- Proprietary
knowledge- Brand copyright- Site skin: look, feel
1
3
4 2- Semi-automated - Local community-
focused
5
6 7
8
9
Finders:Individuals & groups seeking investment opportunities that provide (i) requisite returns and (ii) a direct benefit to a local community.
Grinders:Start-ups and EXISTING locally owned businesses & COMMUNITY GROUPS seeking capital investments of $10K-$2M
Finders: Investment efficiency through a screening process that ensures only the top ideas are posted.
Grinders: Access to small amounts of capital typically hard to acquire through institutional routes.
- Finders Fee (2% of consummated deal value)
- Grinders Fee ($250 application review fee)
jerry sanders Group 14
163
Thursday
j
One-off:- Platform design
Ongoing:- Screening- Marketing- IT maint. & support- New market ID
An online platform helping local communities to thrive‘matchmaking’ forum where F&G connect.
- Independent business organizations
- Community Groups & Block Associations interest orgs
- Community funding institutions
- Local business school alumni
- Local business activists
- Personal connections
- Government entities
Value-driven: Most important costs include:- Web platform development- IT management & technical support- Marketing & customer acquisition
Dual revenue structure:
- Direct contact through website
- Local news & PR channels
- Word of mouth
- Customer d/base- Proprietary
knowledge- Brand copyright- Site skin: look, feel
1
3
4 2- Semi-automated - Local community-
focused
5
6 7
8
9
FindersInvestors:Individuals & groups seeking investment opportunities to provide a direct or indirect benefit to a local community.
GrindersBusinesses:Existing locally owned businesses seeking capital investments of $10K-$2M
FindersInvestors: Investment efficiency through a screening process that ensures only the top ideas are posted.
GrindersBusinesses: Access to small amounts of capital typically hard to acquire through institutional routes. Giving residents a way to preserve their neighborhood
- Finders Fee (2% of consummated deal value OR top line revenue interest in subject business)
- Grinders Application Fee ($250 application review fee)
jerry sanders Group 14
164Experiments Yesterday
[Social Crowd]
Test Activities ResultsLong term viability Surveys & interviews to determine LT sustainability of our
business model. For instance, the impact of consummating: a good deal: loyalty to us or the contracting party? a bad deal: negative splash-back on us?
Inconclusive
User interface How investors and businesses prefer to interact (privacy etc) Conclusive
Markets Attend a community board meeting to further test the genuine market size/need Streets vs Neighborhoods Street Ambassadors
Conclusive, but not scaleable
Diving deeper…
jerry sanders Group 14
165
Friday
One-off:- Platform design
Ongoing:- Screening- Marketing- IT maint. & support- New market ID
Helping local communities thrive by creating an online platform for them protect and preserve their way of life
- Independent business organizations
- Community Groups & Block Associations Local business school alumni
- Local business activists
- Personal connections
- Government entities
Value-driven: Most important costs include:- Web platform development- IT management & technical support- Marketing & customer acquisition
Dual revenue structure:
- Direct contact through website
- Local news & PR channels
- Word of mouth
- Customer d/base- Proprietary
knowledge- Brand copyright- Site skin: look, feel
1
3
4 2- Semi-automated - Local community-
focused
5
6 7
8
9
Investors:Individuals & groups seeking investment opportunities to provide a direct or indirect benefit to a local community.
Businesses:Existing locally owned businesses seeking capital investments of $10K-$2M
Investors: Investment efficiency through a screening process that ensures only the top ideas are posted.
Businesses: Access to small amounts of capital typically hard to acquire through institutional routes. Giving residents a way to preserve their neighborhood
- Finders Fee (2% of consummated deal value OR top line revenue interest in subject business)
- Application Fee ($250 application review fee)- Revenue sharing (Percentage from topline)
jerry sanders Group 14
169Friday
A platform helping business owners who
need to renovate funding &
construction services
Monday
Results/ lessons learnedWhat we thought
Experiments “unearthed” questions
Tuesday Wednesday Thursday
An online ‘matchmaking’ forum where F&G connect.
Finders: Investment efficiency through a screening process that ensures only the top ideas are posted.
Grinders: Access to small amounts of capital typically hard to acquire through institutional routes.
?
An online platform helping local communities to thrive
Investors: Investment efficiency through a screening process that ensures only the top ideas are posted.
Investors: Investment efficiency through a screening process that ensures only the top ideas are posted.
?
?
[Social Crowd]
jerry sanders Group 14
170Monday
[Social Crowd]
Helping business owners who need $ to
renovate building raise the $ from their
local community
12 interviews with investors & business owners
Small businesses (“Grinders”) -- which are essential to vibrant communities -- face increasing threats to viability due to the inaccessibility of capital. Small business owners (grinders) and investors (finders) do not connect
An online ‘matchmaking’ forum where F&G connect.
Finders: Investment efficiency through a screening process that ensures only the top ideas are posted.
Grinders: Access to small amounts of capital typically hard to acquire through institutional routes.
s
jerry sanders Group 14
171Tuesday
15 interviews with investors & business ownersDeep dive in Greenwich
Local element is key.Money is not enough: business owners also need expertise to develop innovative and relevant solutions to adapt to their ecosystem.People are interested in supporting their local businesses.Business owners need $ to renovate establishment. BUT, they also need money to buy new equipments/furniture and develop new product/services
An online ‘matchmaking’ forum where F&G connect.
Finders: Investment efficiency through a screening process that ensures only the top ideas are posted.
Grinders: Access to small amounts of capital typically hard to acquire through institutional routes.
An online ‘matchmaking’ forum where F&G connect.
Finders: Investment efficiency through a screening process that ensures only the top ideas are posted.
Grinders: Access to small amounts of capital typically hard to acquire through institutional routes.
[Social Crowd]
jerry sanders Group 14
172Wednesday
An online ‘matchmaking’ forum where F&G connect.
Finders: Investment efficiency through a screening process that ensures only the top ideas are posted.
Grinders: Access to small amounts of capital typically hard to acquire through institutional routes.
s
3 face to face meetings (multiple parties).5 phone interviews
Proven model: Bryant Park CorporationNeed community board endorsementNeed Brand
Need to help small businesses get ownership of their building to avoid rent increase.Residents' wealth & culture vary drastically across location- is the model easily transferable?Some businesses are just not sustainable (& we need to decide if we help them or not)Need to understand the industry of small business if want to help it efficiently.
An online platform helping local communities to thrive
Investors: Investment efficiency through a screening process that ensures only the top ideas are posted.
Investors: Investment efficiency through a screening process that ensures only the top ideas are posted.
Does the “model” apply to other cities? Neighborhood
that haven’t organized ?
Unearthed a need for people to have a “platform” to “organize”/ exchange info/$$. But needs a lot more Customer Discovery to address that need.
[Social Crowd]
jerry sanders Group 14
173Thursday
An online platform helping local communities to thrive
Investors: Investment efficiency through a screening process that ensures only the top ideas are posted.
Investors: Investment efficiency through a screening process that ensures only the top ideas are posted.
3hr community meeting (50 people).6 phone interviews (NYC, Boston, …)
Model applies to Boston too, ie transferable ;-)
Meetings & calls confirm the need for a “tool” for communities to “thrive”- what will it look like???
Developed and tested a wireframe. ?
[Social Crowd]
jerry sanders Group 14
174Conclusion
• Confirmation that small businesses need $ & that residents are willing to invest so that communities continue to thrive (problem 1)
• BUT, identified a broader, yet not clearly defined need/problem: there is a need for a “tool” for communities to “organize”/ exchange info/$$ (problem 2).
• Next steps:– A. develop MVP to get running with problem 1 & test product market
fit– B. Do more customer discovery to get to the bottom of problem 2.
[Social Crowd]
jerry sanders Group 14
175Next Steps?
Contact with Neighborhood organizations
Contact with Community funding
Institution & industry associations
[Social Crowd]
An online platform that connects procurement consortiums with suppliers.“Bulk Pricing without the Bulk”
Interviews:22 on Day 486 Total
Ravi PingliArez MardoukhiGopi Sukhavasi
Kevin Woolley
YOUR SUPPLIER NETWORK – Day 1
BuyersCFO’s, COO’s, CPO (Chief Procurement Officers)
Find the best possible suppliers for their operational needs
SuppliersCMO (Chief Marketing Officers), Sales Department
Find new customers
SoftwareMarketing
Sales
Buyers1. Find the best possible suppliers for procuring goods and services. 2. One solution to manage end to end source-to-pay process
Suppliers1. Provide platform to reach target market customers
Purchasing Associations
Marketing/Sales Team
Fixed - Software development, maintenance costs, administrative costs
Variable – Marketing/Sales costs
Subscription fee will be charged per seat for each customer.
The pricing will be higher for buyers than suppliers
Professional Network
Purchasing Associations
Industry conferences
Software Development
Team
Marketing Resources
1
3
4 2Partnerships with
Industry Trade shows
Professional network
5
6 7
8
9
YOUR SUPPLIER NETWORK – Day 2
Chain/Corporate Restaurants
Chain/Corporate Hotels
Sales Companies Distributing to Hotels and Companies
SoftwareMarketing
Sales
Buyers1. Find the best possible suppliers for procuring goods and services. 2. One solution to manage end to end source-to-pay process
Suppliers1. Provide platform to reach target market customers
Purchasing Associations
Marketing/Sales Team
Fixed - Software development, maintenance costs, administrative costs
Variable – Marketing/Sales costs
Subscription fee will be charged per seat for each customer.
The pricing will be higher for buyers than suppliers
Professional Network
Purchasing Associations
Industry conferences
Software Development
Team
Marketing Resources
1
3
4 2Partnerships with
Industry Trade shows
Professional network
5
6 7
8
9
Key Partners• Hotel and
restaurant associations
• Independent research services
Key Activities• Develop
online platform
• Continuous buyer and supplier development
Value PropositionsBuyers• Find best
suppliers for procurement consortiums
• Facilitate transparency and ease of use
Suppliers• Increased
visibility to potential customers
Channels• Outside
salesforce
Customer Relationships• Regular
customer contact
Customer Segments• Local/
independent restaurants (no chains)
• Local/ independent hotels (no chains)
• Food, tabletop, and bed linen suppliers
Cost Structure• Fixed: Software development/maintenance • Variable: Marketing/sales
Revenue• Annual subscription contract for both buyers
and suppliers (~0.5% of consortium revenue)• Buyers/suppliers charged to submit/respond to
proposals
Key Resources• Software
development team
• Marketing resources
Business Model Canvas: Day 3
Key Partners• Hotel and
restaurant associations
• Independent research services
Key Activities• Develop
online platform
• Continuous buyer and supplier development
Value PropositionsBuyers• Lower costs• Increase
options and negotiating position
Suppliers• Increased
visibility to customers
• Increase sales price
Channels• Outside
salesforce
Customer Relationships• Regular
customer contact
Customer Segments• Local/
independent restaurants (no chains)
• Local/ independent hotels (no chains)
• Food and tabletop and bed linen suppliers
Cost Structure• Fixed: Software development/maintenance • Variable: Marketing/sales
Revenue• 3% commission on sales paid by supplier• Annual subscription contract for both buyers
and suppliers (~0.5% of consortium revenue)
Key Resources• Software
development team
• Marketing resources
Business Model Canvas: Day 4
Key Partners• Network
effect among densely located restaurants
Key Activities• Develop
online platform
• Continuous buyer and supplier development
Value PropositionsBuyers• Lower costs• Increase
options and negotiating position
Suppliers• Increased
visibility to customers
• Higher margins
Channels• Outside
salesforce
Customer Relationships• Regular
customer contact
Customer Segments• Local/
independent restaurants (no chains)
• Glassware suppliers
Cost Structure• Fixed: Software development/maintenance • Variable: Marketing/sales
Revenue• 3% commission on sales paid by supplier• Free subscription for local restaurants
Key Resources• Software
development team
• Marketing resources
Business Model Canvas: Day 5
Business Hypotheses
Hypothesis 1
• Restaurants will use the website instead of working with sales companies
Test
• Interviews with local restaurants
Hypothesis 2
• When showing the products, restaurants want to see the supplier name along with the price
Test
• Interviews with local restaurants
Result
• Accepted provided major suppliers are there on the network and they get a better deal
Result
• Accepted unless YSN provides a warranty on the product
Hypothesis 3
• Restaurant will procure supplies in coordination with other restaurants for a discount
Test
• Interview with local restaurants
Result
• Accepted with the caveat that delivery would not add significant cost.
What’s next?
• Brand Name (Glass…..)
• Setup LLC
• Get Trademark
• Acquire capital (SBA loan)
• Form the execution Team
• Enroll suppliers into YSN
• Signup local restaurants to use YSN
FidélEatRestaurant Loyalty
19 Restaurateur Interviews
25 Consumer Interviews
Cumulative: 59 Restaurants, 77 Consumers, 140 Surveys
Robert Montrone
EMBA ’12Consultant /TV ProducerABC Television
Jaidev Rao
EMBA ’12Management ConsultingRothstein Kass
Abhishek Sheetal
EMBA ’12Tech Marketing / StrategyLeCroy Corporation
William Cooke
EMBA ’12Strategy & Financial PlanningBlue Sky Solar
Sarah Brown
EMBA ’12ConsultingNeuberger Berman
Dennis Kwon
MBA ’11Engineer / Tech EntrepreneurshipLala.com
Listen to your Customers (restaurants)
Restaurants with more than 40% repeat customers want better way to…
ANALYZE and RECOGNIZE
ANALYZE
OpenTable
• Collects information• Provides some analysis• Will export to XL file
Hypothesis
• Export data• Provide better analytics• Allow more creative loyalty programs with value add
RECOGNIZE
• Reservations are automatically recognized through open table
• PROBLEM ----- Most repeat customers are walk-ins!
• SOLUTION ----- Face recognition
• This allows the hostess to recognize a repeat customer, even if it has been 6 months since their first visit.
www.fideleat.com
ECOSYSTEM
RestaurantHostess Stand
OpenTableReservatio
n Book
FidelEatOpenTable
Website
PHOTO
RESERVATION
DATADATA
CUSTOMIZED INFORMATION
Table Compass
Who are our most important customers?Both restaurants and end users What are their archetypes?People who plan, price conscious, occasions, groups of friends What Job do they want us to get done for them?End customer: discountsRestaurants: fill seats
Key Activities• Platform design and
development • Business
development, partnerships and marketing
Which of our customer’s problems are we helping to solve?• Empty tables• Difficulty making
reservations• Price
Which customer needs are we satisfying?• Restaurants: revenue
management, working capital
• End Customers: discounted meals, secured reservations, restaurant comparisons
What are the Key Features of our product that matchcustomers problem/need? • Discounted pricing• Restaurant discovery
Key Partners Restaurant owners
Key Suppliers Possibly Open Table
What are we getting from them? Reservation Service Giving them? Restaurant traffic
What are the most important costs inherent in our business model? Fixed Cost: Building the website Variable: Marketing, sales people, advertising
How do we make money? What’s the revenue model? Pricing tactics?Options: listing fees, percentage of restaurant fee, restaurant flat fee, first year free, etc.
Through which Channels do our Customer Segments want to be reached? • Restaurants: face to
face meetings• End Customers: Word
of mouth marketing, online, direct email
Key Resources• Designers, Engineers• Business
development, Sales• Money
1
3
4 2How will we Get, Keep and Grow Customers? Retention plan: points system, Groupon, promotional item, value add free meal, etc.
5
6 7
8
9
Monday
Table Compass
Archetypes?People who planPrice consciousFoodies
Key Activities• Platform design and
development • Business
development, partnerships and marketing
• Difficulty making reservations
• Price• End Customers:
Discounted bookings, secured reservations, restaurant comparisons
• Discounted pricing• Restaurant discovery
Key Partners Restaurant owners
Key Suppliers Possibly Open Table
What are we getting from them? Reservation Service Giving them? Restaurant traffic
What are the most important costs inherent in our business model? Fixed Cost: Building the website Variable: Marketing, sales people, advertising
Listing fees, percentage of restaurant fee, restaurant flat fee, first year free, etc.
Through which Channels do our Customer Segments want to be reached? • Restaurants: face to
face meetings• End Customers: Word
of mouth marketing, online, direct email
Key Resources• Designers, Engineers• Business
development, Sales• Money
1
3
4 2How will we Get, Keep and Grow Customers? Retention plan: points system, Groupon, promotional item, value add free meal, etc.
5
6 7
8
9
(Pass, Fail, Unclear)
• Medium-low end restaurants
• Medium-high end restaurants that take reservations
. Revenue Management. Working capital. Filling Seats
Tuesday
Table Compass
Younger Trendy
Key Activities• Platform design and
development • Business
development, partnerships and marketing
• Price• Discounted bookings,
secured reservations, restaurant comparisons
• Discounted pricing• Restaurant discovery
Key Partners Restaurant owners
Key Suppliers Possibly Open Table
What are we getting from them? Reservation Service Giving them? Restaurant traffic
What are the most important costs inherent in our business model? Fixed Cost: Building the website Variable: Marketing, sales people, advertising
Options: listing fees, percentage of restaurant fee, restaurant flat fee, first year free, etc.
Through which Channels do our Customer Segments want to be reached? • Restaurants: face to
face meetings• End Customers: Word
of mouth marketing, online, direct email
Key Resources• Designers, Engineers• Business
development, Sales• Money
How will we Get, Keep and Grow Customers? Retention plan: points system, Groupon, promotional item, value add free meal, etc.
(Pass, Fail, Unclear)
• Medium-low end restaurants
• Medium-high end restaurants that take reservations
. Revenue Management. Working capital. Filling Seats
Wednesday
FidélEat
Younger TrendyYoung families
• Platform design and development
• Business development
• Partnerships and marketing
PriceDiscounted bookings, secured reservations, restaurant comparisonsDiscounted pricing- Discount rewards for loyalty- Promotional Credits
Key Partners Restaurant owners
Key Suppliers Possibly Open Table
What are we getting from them? Reservation Service Giving them? REPEAT Restaurant traffic
What are the most important costs inherent in our business model? Fixed Cost: Building the website Variable: Marketing, sales people, advertising
Options: listing fees, percentage of restaurant fee, restaurant flat fee, first year free, etc. Monthly Subscription Fee, Tiered subscriptions
Through which Channels do our Customer Segments want to be reached? • Restaurants: face to
face meetings• End Customers: Word
of mouth marketing, online, direct email, NY Times
• Designers• Engineers• Business
Development• Sales• Money
How will we Get, Keep and Grow Customers? Retention plan: points system, Groupon, promotional item, value add free meal, etc. Expiring Promotional Credits (EPCs)
(Pass, Fail, Unclear)
- Medium-low end restaurants- Medium-high end restaurants that take reservations
- Revenue Management- Working capitalFilling Seats- Repeat Business- Fill seats during slow periods
Thursday
Monthly Subscription Fee, Monthly/Quarterly customer data service
FidélEat
Repeat customersNew Customers
• Platform design and development
• Business development
• Partnerships and marketing
- Discount rewards for loyalty
- Better Service
Key Partners Open Table
Key Suppliers Face recognition software
What are we getting from them? Reservation Service Giving them? REPEAT Brand Loyalty
What are the most important costs inherent in our business model? Fixed Cost: FACE RECOGNITION SYSTEM Building the website Variable: FACE RECOGNITION SYSTEMS, Marketing, sales people, advertising
Through which Channels do our Customer Segments want to be reached? • Restaurants: face to
face meetings• End Customers: Word
of mouth marketing, online, direct email, NY Times
• Designers• Engineers• Business
Development• Sales• Money
(Pass, Fail, Unclear)
- Medium-high end neighborhood restaurants
- High Quality of Repeat Business
- Enable Customer Recognition
- Enable personalized marketing
NOW
Monthly Subscription Fee, Monthly/Quarterly customer data services one time fee
- How will we Get, Keep and Grow Customers
How will we Get, Keep and Grow Customers? Retention plan: Expiring Promotional Credits (EPCs)
Customer Contacts Yesterday: 17 traveler groups in personCustomer Contacts To Date: 70 in person / 33 online / 75 Adwords clicks / 51,000 online impressionsPurchases To Date: 7 Repeat Customers: 1
Scott Greco
Ari Harkov
Alex Morrison
Sarah Shenton
Francois Viargues
MichaelBurke
1. Traveling to urban destination and a desire for authentic experiences
2. Own smart phone / tablet (ideal)
3. Age 25-45 / target 25-35 (?)
4. Professional, $50k+ income
5. Time-starved
Our job:-making planning quicker,
easier, painless-access to off the beaten
path spots-vacation that meets their
specific interests
1. Itinerary collection & updates
2. Marketing / PR
3. Customer service – locals & travelers
For Customers:1. Access to authentic,
non-touristy spots
2. Better planned days = easier, maximize vacation time
3. Save time
4. Clean UX and interactive itineraries take the guidebook to 21st century
For Local Experts:5. Monetize your local
knowledge
Partners: hotels, local merchants, airlines, online booking sites, local sites, rental car
companies, international phone data carriers
Suppliers: local trendsetters, work in
hospitality, younger/creative,
bloggers, active parents
Get itineraries: $$ for sales as well as
exposure (blog, video)
Fixed costs: upfront development of site and app
Variable costs: talent/people, marketing/advertising, compensation of locals, product iterations
How: Sell itinerary for $4.99, pay local 20%, keep 80% gross margin.
Pricing tactics: compete between guidebooks & freePromos: 1st free, free if feedback, buy 1 get 1 free, free if FB post
1. Search (SEO/SEM)2. Social media3. Travel blogs4. Travel/local sites
1. Web developers2. Marketing/PR team3. Local expert outreach4. Sales force (low end,
in person)
1
3
2Get: PR, digital WOM, SEO, SEM, consumer promotions
Keep: great customer service, expand cities, improve partner offerings
Grow: CRM / relationship marketing, expand offering to more cities
5
6 7
8
9
4Version 1 – April 15th 2012
Locals - Content Providers
1. Itinerary collection & updates
2. Marketing / PR
3. Customer service – locals & travelers
Partners: hotels, local merchants, airlines, online booking sites, local sites, rental car companies, international phone data carriers
Suppliers: local trendsetters, work in hospitality, younger/creative, bloggers, active parents
Get itineraries: $$ for sales as well as exposure (blog, video)
Fixed costs: upfront development of site and app
Variable costs: talent/people, marketing/advertising, compensation of locals, product iterations
How: Sell itinerary for $4.99, pay local 20%, keep 80% gross margin.
Pricing tactics: compete between guidebooks & freePromos: 1st free, free if feedback, buy 1 get 1 free, free if FB post
• Craigslist• Social media• Local blogs
1. Web developers2. Marketing/PR team3. Local expert outreach4. Sales force (low end,
in person)
1
3
2
5
6 7
8
9
Version 2 - EOD April 16th 2012
Mass Distributors – Content Purchasers (Ex: Hotel Concierge)
Bakamba helps tourists have richer, more authentic travel experiences by tapping into the knowledge of locals Save time planning See the “Real” City Filter based on interests Everything in one place
Get: PR, digital WOM, SEO, SEM, consumer promotions
Keep/ Grow: great customer service, expand cities, improve partner offerings
4
Unique platform for locals experts to share and monetize their local knowledge
Revenue sharing & relationship marketing
• Search (SEO/SEM)• Social media• Travel blogs / sites
Tourists – Content Purchasers
How: Sell itinerary for $9.99, pay local 10%, keep 90% gross margin.
Mass Distributors – Content Purchasers
Locals - Content Providers
1. Itinerary collection & updates
2. Marketing / PR
3. Customer service – locals & travelersSuppliers: local
trendsetters, work in hospitality, younger/creative, bloggers, active parents
Get itineraries: $$ for sales as well as exposure (blog, video)
Fixed costs: upfront development of site and app
Variable costs: talent/people, marketing/advertising, compensation of locals, product iterations
How: Sell itinerary for $9.99, pay local 20%, keep 80% gross margin.
• Craigslist• Social media• Local blogs
1. Web developers2. Marketing/PR team3. Local expert outreach4. Sales force (low end,
in person)
1
3
2
5
6 7
8
9
Version 3 - EOD April 17th 2012
Mass Distributors – Content Purchasers
Bakamba helps tourists have richer, more authentic travel experiences by tapping into the knowledge of locals Save time planning See the “Real” City Filter based on interests Everything in one place
Get: PR, digital WOM, SEO, SEM, consumer promotions
Keep/ Grow: great customer service, expand cities, improve partner offerings
4
Unique platform for locals experts to share and monetize their local knowledge
Revenue sharing & relationship marketing
• Search (SEO/SEM)• Social media• Travel blogs / sites
Tourists – Content Purchasers
Potential idea: Provide recommendations and info to concierges
How: Sell itinerary for $9.99, pay local 10%, keep 90% gross margin.
Mass Distributors – Content Purchasers
Locals - Content Providers
1. Itinerary collection & updates
2. Marketing / PR
3. Customer service – locals & travelersSuppliers: local
trendsetters, work in hospitality, younger/creative, bloggers, active parents
Get itineraries: $$ for sales as well as exposure (blog, video)
Fixed costs: upfront development of site and app
Variable costs: talent/people, marketing/advertising, compensation of locals, product iterations, printing/binding
How: Sell itinerary for $9.99, pay local 20%, keep 80% gross margin.
Tests: can we get locals to contribute without the promise of payment for sales? Get one for free if you create one for your own city? Pay to post? Break up itineraries into sections by
different locals?
• Craigslist• Social media• Local blogs
1. Web developers2. Marketing/PR team3. Local expert outreach4. Sales force (low end,
in person)
1
3
2
5
6 7
8
9
Version 4 - EOD April 18th 2012
Mass Distributors – Content Purchasers
Bakamba helps tourists have richer, more authentic travel experiences by tapping into the knowledge of locals Save time planning See the “Real” City Filter based on
interests/location/authors Budget advice / Flexibility needed
Get: PR, digital WOM, SEO, SEM, consumer promotions, authors as sales force?
Keep/ Grow: great customer service, expand cities, improve partner offerings
4
Unique platform for locals experts to share and monetize their local knowledge
Revenue sharing & relationship marketing
• Search (SEO/SEM)• Social media• Travel blogs / sites• Authors as sales force
Tourists – Content Purchasers
Potential idea: Provide recommendations and info to concierges
People want flexibility and dynamic itineraries with options
People would prefer to build their own itineraries based on a
database of local recommendations.
People will choose travel itineraries based on WHO is
writing them.
Confirmed. WTP increased significantly when presented with
MVPs with options
Confirmed. People love the ability to build their own itineraries.
Confirmed. Everybody wants to know who is writing, but it
remains unclear whether it is the main reason for choosing an
itinerary.
Hypothesis Result
People also would want to be put in direct contact with their local
guide.
Refuted. People do not seem to want direct contact with their
local guides.
People want flexibility and dynamic itineraries with options
People would prefer to build their own itineraries based on a
database of local recommendations.
People will choose travel itineraries based on WHO is
writing them.
Confirmed. WTP increased significantly when presented with
MVPs with options
Confirmed. People love the ability to build their own itineraries.
Confirmed. Everybody wants to know who is writing, but it
remains unclear whether it is the main reason for choosing an
itinerary.
Hypothesis Result
People also would want to be put in direct contact with their local
guide.
Refuted. People do not seem to want direct contact with their
local guides.
People want flexibility and dynamic itineraries with options
People would prefer to build their own itineraries based on a
database of local recommendations.
Confirmed. WTP increased significantly when presented with
MVPs with options
Confirmed. People love the ability to build their own itineraries.
Hypothesis Result
People also would want to be put in direct contact with their local
guide.
Refuted. People do not seem to want direct contact with their
local guides.
People will choose travel itineraries based on WHO is
writing them.
Confirmed. Everybody wants to know who is writing, but it
remains unclear whether it is the main reason for choosing an
itinerary.
People want flexibility and dynamic itineraries with options
Confirmed. WTP increased significantly when presented with
MVPs with options
Hypothesis Result
People also would want to be put in direct contact with their local
guide.
Refuted. People do not seem to want direct contact with their
local guides.
People will choose travel itineraries based on WHO is
writing them.
Confirmed. Everybody wants to know who is writing, but it
remains unclear whether it is the main reason for choosing an
itinerary.
People would prefer to build their own itineraries based on a
database of local recommendations.
Confirmed. People love the ability to build their own itineraries.
How: Sell itinerary for $9.99, pay local 10%, keep 90% gross margin.
Mass Distributors – Content Purchasers
Locals - Content Providers
1. Itinerary collection & updates
2. Marketing / PR
3. Customer service – locals & travelersSuppliers: local
trendsetters, work in hospitality, younger/creative, bloggers, active parents
Get itineraries: $$ for sales as well as exposure (blog, video)
Fixed costs: upfront development of site and app
Variable costs: talent/people, marketing/advertising, compensation of locals, product iterations, printing/binding
How: Sell itinerary for $4.99 - $9.99, pay local 20%, keep 80% gross margin.
- Should we allow people to download itineraries in exchange for writing an itinerary?
- Should we give itineraries away for free and rely on an advertising model or other revenue source?
• Craigslist• Social media• Local blogs
1. Web developers2. Marketing/PR team3. Local expert outreach4. Sales force (low end,
in person)
1
3
2
5
6 7
8
9
Version 5 - EOD April 19th 2012
Mass Distributors – Content Purchasers
Bakamba helps tourists have richer, more authentic travel experiences by tapping into the knowledge of locals Save time planning See the “Real” City Filter based on
interests3 or more options for every occasion
Get: PR, digital WOM, SEO, SEM, consumer promotions, authors as sales force
Keep/ Grow: great customer service, expand cities, improve partner offerings
4
Unique platform for locals experts to share and monetize their local knowledge
Revenue sharing & relationship marketing
• Search (SEO/SEM)• Social media• Travel blogs / sites• Authors as sales force
Tourists – Content Purchasers
Potential idea: Provide recommendations and info to concierges
The AUTHENTIC City Experience
• Restaurants• Activities • Attractions
Eco SystemLocal Recommendations
Via Web for the Pre Planner
Mobil device for the On The Go
Subscriptions for Multi User Locations
• The individuals creating itineraries
Bakamba Travelers
?!*&?
Travel Agents
Online Travel Sites & Travel Books
$$
Next Steps
– Increase the number of tests and experiments and introduce the site slowly to early access users without a high-fanfare launch.
– Add technical expertise within the core group of founders.– Reverse-engineer the business models of our competition and analyze
the success and failures of their strategies.– Continue to gather data, and truly establish our goal:
• Millions of users• Immediate Revenue
– Once data has been gathered, focus on pattern recognition within the data. We will map out the market opportunity, determine whether there is also a revenue opportunity there, and proceed accordingly.
PULZE
Your Organization’sPULZE
Vladimir Baranov, Jitender Chopra, John Gole, Riyaz Habibbhai, F. Lane Harwell, Daniello Natoli
Total Interviews: 47!
April 20th, 2012
PULZEORGANIZE, ANALYZE, AND COMMUNICATE
PULZE
- SEO, SEM, AwC: $10, AcC: $250
- Leadership Conferences: AwC: $1499, $AcC: $50
- Social Media Groups: AwC $10, AcC: $250
How else would we get customers?
PULZE
1) Standard Off-the-shelf software:- content empty- no insight- the questions are the best guess of the person creating them
2) HR and Management Consultants are potential channels and customers
3) Value-based pricing
4) Demonstrate value first and follow-up with telesales and direct marketing
We also talked to HR software company
PULZE
Survey Monkey
$500 per year
$ per Survey/Analysis
Price and Value Position
PULZE$500 - $3,500
HR Consultancies~$5,000 - $15, 000
(per survey)
Per
cep
tion
of
Val
ue
Raw Data / Little Analysis
“DIY” Data and AnalysisBenchmarkingTemplates with response validation CustomizationAccess to Domain Specific SolutionsLegal and Regulatory Checks
ORGANIZE, ANALYZE, AND COMMUNICATE
“Hand Holding” Data and AnalysisBenchmarkingTemplatesCustomizationAccess to Domain Specific SolutionsLegal and Regulatory Checks
PULZE
Team Pulze
500 < Enterprises
< 2000 Bottom-Up employee
engagement
Software vendors
One time service fee
Sales force
1
3
4 2Key Account management
5
7
8
Provide employees
ownership in business strategy
Low cost solution to interim surveys
Middle Management of
larger corporations
Semi customized
service based on needs
Subscription service
Enterprise social platforms
Partners
6
Cloud service
Data warehousing
Suppliers
3rd party analytics
R&DMarketing and Manage the
platform
Lead gen
Recruitment
Software developers
HR talent
Research experts
Payroll
marketing
Fixed
Sales
Customer acq.
Talent acq.
Variable
9
Website
PULZE
Team Pulze
Manager of a company,
division or unit with 100-3000
employees, w/minimal HR
support
Bottom-Up employee
engagement
Software vendors
One time service fee
1
3
4 2Key Account management
5
7
8
Provide employees
ownership in business strategy
Low cost solution to interim surveys
SEO
Subscription service
Enterprise social platforms
Partners
6
Cloud service
Data warehousing
Suppliers
3rd party analytics
R&D
Marketing and Manage the
platform
Software developers
HR talent
Research experts
Payroll
marketing
Fixed
Sales
Customer acq.
Talent acq.
Variable
9
Website
HR Consultants
Analysis
Benchmarked Data
Templates
Semi-customization
Sales force
Gamification – to increase particip
Recruitment
Lead gen
>Survey Monkey < Consultants
Fee to HR Consultants
US Legal
Legal Counsel
PULZE
Team Pulze
Manager of a company,
division or unit with 100-3000
employees, w/minimal HR
support
Bottom-Up employee
engagement
Software vendors
Number of Employees
$500 < N < $5K
1
3
4 2Key Account management
5
7
8
Provide employees ownership in
business strategy
Low cost solution to employee surveys
SEO
Subscription service $1 – 5K
Enterprise social platforms
Partners
6
Cloud service
Data warehousing
Suppliers
3rd party analytics
R&D
Marketing and Manage the
platform
Software developers
HR talent
Research experts
Payroll
marketing
Fixed
Sales
Customer acq.
Talent acq.
Variable
9
Website
HR Consultants
TemplatesAnalysis
Benchmarked Data
GamificationEthical and Legal
Customization
Legal Counsel
Fee to HR Consultants
24/7 Value Added Consultants for Pre/Post Survey
Linked-In
Social Media
PULZE
Team Pulze – day 5
Manager of a company, division or unit with 100-3000 employees,
w/minimal HR support
Bottom-Up employee engagement
Software vendors
Number of Employees$500 < N < $5K
1
3
4 2Key Account management
5
7
8
Provide employees ownership in business
strategy
Low cost solution to employee surveys
SEO
Enterprise social platforms
Partners
6
Cloud service
Data warehousing
Suppliers
3rd party analytics
R&D
Marketing and Manage the platform
Software developers
HR talent
Research experts
Payrollmarketing
Fixed
Sales
Customer acq.
Talent acq.
Variable
9
Website
Consultants
TemplatesAnalysis
Benchmarked DataGamification
Ethical and Legal
Customization
Legal Counsel
24/7 Value Added Consultants for Pre/Post Survey
Social Media Consultants?
Conferences
PULZE
Summary and Conclusion
The Original strategy Sell to human resources executives, primarily Mixed response Co-Opetition, Barry Nalebuff, YSOM
Leadership and HR are different verticals
Original Strategy
Refine market segment SMid: Small to medium size enterprises are the
sweetspot Needs support and data
Pivot
PULZE
Canvas could be used for public growth companies analysis
Customer discovery process may lead to several pivots
Archetype of customer may pivot with more data
Channel aligned with your value propostion gives best advice
Not all ideas are hopeless, they are just waiting for a pivot
Ask for help and help others: Pay Forward
Lessons Learned
PULZE
Market SizeBusiness Units
100-499 90,386 500-749 6,060 750-999 3,038 1000-1499 3,044 1500-1999 1,533 2000-2499 904 2500+ 46,525
TAM 151,490
TAM: 151,490
SAM: 136,384
TM: 34,085
Source: US Census,2008
SAM estimate was derived by using broadband business usage ratio. OECD
PULZE
Customer Relationship and Channels
Acquisition?Awareness?
ProblemsHR consultants don’t want to work with usMiddle Managers aren’t actively lookingOptionsReferrals – Probably not enoughSales forceImplicationsCosts soarCannot keep prices to our low price point
HR Managers
HR Consultants
HR Blogs, Journals
Middle Managers