Llp team17 final presentation

Zhaoyu LiMBA

Team#17 (Former) Career/Employer Review

1/14

Mockup

Ruiqi HuM.S. Management

Linwei ChenM.S. Management

Day & Project

Day 1 Sheccess

Day 2 Sheccess

Day 3 Mockup

Day 4 Mockup

Day 5Mockup

After-ClassMockup

Total interviews

CustomerDiscovery 58 25 40 10 38 257

290-83 Sheccess-345 Mockup

January 2013

Idea EvolutionDay1: Sheccess

Women’s Career Advice Website

• “Why women only?”• “How can you compete with other career advice websites?” • “What value are you providing exactly?”

Day2: SheccessWomen’s Career-based

Social Network

• “There are too many social network!”• “Wouldn’t that further limit women’s social networking?”• “I’d rather join women’s small groups and get a mentor

there…”

Day3-5: MockupPeer to Peer Mock Interview Platform

• “Who will use it?”• “Why would people be motivated to give

interviews?”• “How do you guarantee that the

interviewers are qualified?”

Customer Feedback

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Customer Discovery (345 interviews) Value Prop.

-93% of the students (college & grad sch.) think mock interviews are essential-80% of the students (college & grad sch.) want an easier and cheap way to do mock interviews

-Provides a platform and powerful video tools for online peer to peer free interview practice or paid service

-25% of the students (college & grad sch.) need to do case interviews with other students

-Provides a platform and online tool with casebooks for quick and one-on-one case interview practice

-60% of the students (college & grad sch.) are willing to give interviews if paid ($20 per interview avg.)-50% of the students (college & grad sch.) are willing to pay for mock interviews ($15 per interview avg.)

-Provides interviewers with a part-time job to give interviews-Offer interviewees a chance to choose their interviewers at a lower price

-15% of the students (college & grad sch.) are willing to share their interview videos in order to get valuable feedback-68% of the students (college & grad sch.) want to watch other students’ interview videos

-Enable interviewees to get more feedback about their performance by posting the video-Provides students a chance to learn how others are doing interviews

Customer Discovery

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Target Customers

Want to help each other with Mock Interviews

Seek a part-time job by giving interviewsFeel happy and honored to help

(Alumni)

Extremely experienced

mentors

Students (College& grad. Sch.)

Professionals

Current Target

Desired Users

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Final Business Model Canvas

- Students preparing for internship/full time jobs interviews

- Students seeking a part-time job by giving interviews

-Platform building/maintenance

-Online tools/packages development

- Free or cheap customized P2P video mock interview

-Full interview toolkit (e.g: consulting cases, interviewee folder, question bank…)

- Annotated Recorded video for later review

- Convenience scheduling

-School Career Center

-Alumni Association

-Company recruiting teams

-Interview preparing workshops

-Career advice institutions/website/groups

- Platform Development- Product Promotion- Maintenance

-5% commission fee from paid interviews-$10/mo. Premium service-Advertisement (books, companies…)

- Interview tools - Active users- Interview question bank (case bank)

Get:Career Websites, student groups, Free trailsKeep:Level + Rating system, CustomizationGrow:-Word of mouth

-Peer to peer community-Online self-service platform

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Value Proposition:- Fast and easy matching of

practice partners- Online tool with Casebooks

and question bank

Value Proposition:- Interviewee gets cheap

interview service- Interviewer finds a way to

help others and earns pocket money

- Recorded Video for future review

Interviewer(Interviewee)

Free P2P

Interviewee InterviewerPaid Service

Business Model

Channels• School Career Office• Career websites• Student Career groups• Alumni Associations

Go-to-market

Interviewee(Interviewer)

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Customer Segments

C. Both

There are three types of target customers:

A: only serves as interviewers (with prior professional experience or specific domain knowledge) - gets paid for offering mock interview services

B: only plays the role as interviewee (job seeker but unwilling to help other job seekers) - pays interviewers for mock interviews

C: job-seeking peers wiling to help each other prepare 1-on-1 case/mock interviews – free mock interviews between partners

A. Interviewer only

B. Interviewee only

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Sign in with LinkedIn account

Complete profile and preference

How to use Mockup?

Options: Instant Match Up or Set Up Appointments

E.g.: Set Up an Appointment: Search for an interviewer

View interviewers’ profiles, levels and ratings

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Choose available time slots;Send request and resume (optional)

Get Started!• Make full use of the

video tool kit (Recording, casebook, question bank, user’s folder, whiteboard, etc.)

• Interviewee can mark, replay and write feedback for the interviewee

Waiting for the interviewer to confirm…

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Revenue Model

Mockup

Paid Service$$$$

5% fee

$ PremiumService

$10/mo.

$$

PremiumService

$10/mo.

$$

Advertisements

$$*Premium Service: advanced searching, access to other users’ posted video and accelerated level upgrading

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US Market SizeUS college and grad students

Need mock

interviews

Willing to pay for

interviews

Total: 17.5 M1

Served: 12.25 M

1. National Center for Education Statistics, Digest of Education Statistics, 4/28/2013

2. Mockup Survey, 1/17/14

70%2

50%2

Target: 6.125 M

$15 (avg./yr.)

Market Size: $91.875 M

5% commission fee

1. Revenue (commission): $4.59 M

2.Revenue (Premium Service): 12.25 M*30%*$20/yr.=$73.5M

3.Revenue (Advertisement Clicks): 12.25 M* $5/yr=$61.25M

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Break-even AnalysisHypotheses:1. Fixed & Variable costs: First year$30,000/yr. (platform development & maintenance, video

tool development)2. Average revenue per user: $30/yr. (paid service commission, premium service, ads click)

Break-even Point:Mockup will begin to make profit from the fourth year.

Break-even Analysis

Year 1 2 3 4 5

CostsFixed Cost $20,000 $20,000 $7,000 $5,000 $5,000

Variable Cost $10,000 $10,000 $20,000 $20,000 $20,000

Revenue per user

Commission $1.00 $2.00 $4.00 $4.00 $4.00

Premium Service $5 $6 $8 $10 $12

Ads click $3 $5 $8 $10 $10

# of Users 300 500 1000 1500 2000

Profit -$27,300 -$23,500 -$7,000 $11,000 $27,000

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120-Day Plan120-Day (16-week) Plan

Week 1 2 3 4 5 6 7 8

Plans

Product Development (Alpha Version)- Product designing- Pivoting based on users' feedback- Demo with our basic features (video tool, profile search, etc.) 　 　

Partnership Building- Partnership discovery (school career center, student groups, etc.)- Potential cooperation discussion 　 　

Customer Development Phase I- NYC Universities (Columbia, NYU, etc.) promotion- Online promotion (free premium trail)- Referral Program

　 　 　 　 Channel discovery and developing

　 　 　 　 　 　System testing

Week 9 10 11 12 13 14 15 16

Plans

System testing (cont.) 　 　 　 　 　 　 Customer Development Phase II- Ivy League promotion- Social network, career network promotion 　 　

Product Development (Beta Version)- Enhanced features & Users' feedback & Testing- Complete product with all designed features 　

Customer Development Phase III- US colleges and universities- Overseas markets

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Our Current Progress- We finished designing the new wireframe and are in the process of making

an introduction video.- Recently, we are participating in a Business Idea Competition.

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