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Finalobelts- Lean Startup Machine NYC
 

Finalobelts- Lean Startup Machine NYC

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    Finalobelts- Lean Startup Machine NYC Finalobelts- Lean Startup Machine NYC Presentation Transcript

    • The ProblemThere isn’t a website that allows consumers to custom design quality and stylish belts.
    • The SolutionObelts: a “me-commerce” website that lets you custom design quality and stylish belts that lookat fit exactly as you desire.
    • Hypothesis• Men and Women would be interested in Belt Customization• Customers often compromise on the style of their belts and find store experiences frustrating• Belts often don’t fit the customers the way they would like them to
    • ProcessSurvey Monkey (surveyed 48 people), “Cold interviews” (surveyed 20 people), Craigslist Ads,Blank Label.Findings• Men ages 25 through 60 are especially interested• Women are also interested particularly in gifting.• 60% of respondents said they would give a custom belt as a gift, and 30% said maybe.• 96% of survey respondents said they were interested in Obelts.• People often make compromises when buying a belt.• Many people cannot find belts that fit.• Some are even embarrassed to buy them in retail stores.
    • 24 Hour StrategyWe created two landing pages using Unbounce to test our hypotheses about these findings andwe are currently running two ad campaigns on Facebook•  People who want to customize stylish belts for Men•  People who can’t find belts that fit in both online and retail stores
    • Critical Success Factors•  anufacturing process is important because product must be of good quality. M•  ffordability: Customers are willing to pay an average cost of $107.50 A •  Belts will start at $60 and with customizations cap around $150•  eturn Policy: Obelts will allow customers to their belts if unsatisfied. We will then remake it and Rsend it to customer.•  trategic partnerships with successful “Me-Commerce” Sites. S
    • Short Term Game Plan• Continued testing “Customizers” and Plus-size Markets• Focus on relatively small variety of customizations in beginning. Keep Manufacturing simple, andestablish partnerships• Determine Manufacturing Logistics• Cost Analysis for profit marginsLong Term Game Plan•  nce we are a leader the “Customizers” and Plus-size Markets for men, we will begin targeting Owomen too.• ncrease customization options- other materials, band width, styles I•  orizontal expansion- wallets, key chains, bracelets, watch-bands HWe are going to pursue Obelts after LSM… Whoohooo! party on GARTH!