Venture Lab 2012 - RED team OAP report

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Venture Lab 2012 - RED team OAP report

  1. 1. From «App for searching cheapestplaces for lunch»to «Universal App for choosing bestplaces nearby with mobilecommunication platform»
  2. 2. Our initial idea
  3. 3. Initial idea descriptionOur initial idea was an «App for searching cheapest places for lunch».JUST IMAGINE:You have an app on your smartphone. After lunch you (and other users) addto app some details: price for complex «business-lunch» (or separate dishes),place where it was and personal assessment.All user-generated information accumulates on server.On the other side, when you (or other app users) haven’t defined preferenceson place for lunch, you can go to app. It will show what the nearest places areand which is cheapest / more preferred by others.
  4. 4. Initial idea Business ModelValue PropositionsFor customers of cafes and restaurants1. Location based information about nearest cheapest places for lunch2. Possibility to share own impressions about price and quality of lunch youhave3. Special occasions from nearest cafes and restaurantsFor owners of cafes and restaurants1. Crowd-sourced references about owned cafe / restaurant2. Possibility to attract new or previous customers with special offersCustomer Segments1. Customers of cafes and restaurants (smartphone users)2. Owners of independent or chained cafes and restaurants
  5. 5. Initial idea Business ModelChannels1. Mobile application (iOS, Android, WM7)2. Web-service (portal or browser application)Customer Relationships1. Through smartphone application or web-service2. Through social media and friends network3. Personalized e-mail marketingRevenue StreamsIn-App advertisement of cafes and restaurants (and other businesses withsimilar customers)Key PartnershipRestaurants, cafes and other similar places
  6. 6. Initial idea Business ModelKey Activities1. Design and development of smartphone app or web-based system2. Product marketing and PR3. Sales of In-App advertisement4. Analytics and curation of user-generated contentKey Resources1. Engineers / designers and infrastructure to run the service2. Advertisement to create awareness3. Sales team 4. Analytics teamCost Structure1. Initial cost of development and making the system live2. Advertisement and PR costs3. Sales team payment 4. Constant cost to sustain the infrastructure
  7. 7. Hypothesys #1
  8. 8. We suppose that…• Project is suitable and needed all over the world• Project is one of a kind• Proposed functionality of the project is enough to customers :))
  9. 9. TEST #1
  10. 10. What we have doneWe have made more than 80 face to face and chat discussions with potentialcustomers from both sides (customers and owners of cafes / restaurants) inRussia, Ukraine, India, United States, United Kingdom, Ethiopia, Canada andEurope.Also we have start several discussion in social networks and personal blogs.
  11. 11. What we have as a resultsOur project is suitable and needed all over the worldAs a result we understood that service in its current shape is very suitable indeveloping coutries (Russia, India, Ukraine, Ethiopia, etc.) and notcompetitive / needed in highly developed (United States, United Kingdom,etc.).Our project is one of a kindAs mentioned above, our current version of service is not unique. It has manycompetitors in highly developed countries, but on the other side is still badpresented in developing.Proposed functionality of the project is enough to customersIn face to face discussions we find out that base functionality our service(nearest and cheapest places for lunch) is good but not enough for customersof cafes and restaurants.
  12. 12. Hypothesys #2
  13. 13. We suppose that…To go further we need to try to gain more information about services (mobileand web) with the same functionality. We assume that this will help us tofind right way for further project development.And there would be only two ways:1. Make service with current idea in base and larger additional functionalitybut the same as highly developed countries services (focusing on developingcountries market);2. Find new idea for base and make something really different (focusing onhighly developed and developing countries market).Second is far more interesting :)
  14. 14. TEST #2
  15. 15. What we have doneIn several days our team have made a deep research regarding services(mobile and web) with the same functionality / customers. Both Internationaland local.All gained information was submitted to spreadsheet with such boxes as:•Type (web / app)•Area (international / local)•Main idea•Main functions•Additional functions•Interesting details•Possible ideas for us
  16. 16. What we have as a resultsWe have found numerous excellent projects in the same industry and even inthe same country (Russia). Among them – such international leaders as Yelp,Urbanspoon, Foursquare and others. All discovered projects were muchbetter than our initial idea in all possible directions.Our next step was a closer look to every found service - its value propositions,customers segments and other parts of Business Model Canvas. Then workwas done we have found several opportunities for the new BIG idea.
  17. 17. The new BIG idea
  18. 18. Opportunities for new BIG ideaTaking a closer look to our competitors we have found several generalobservations:1. All great services like Yelp or Urbanspoon are working only with their ownseparate audiences (users can never see the «full picture»)2. Foursquare is great, but it is best for returning customers and building theirloyalty, and not so good in attracting them3. Photos of food, detailed reviews, stars, proposed coupons and specialdeals are very interesting, but you need to waste a lot of time to watch orread them before making final decision4. Different reviews and proposed special deals are not always suitable forunderstanding that one place is better than others inside nearby area5. Today’s customers have too much apps for searching and choosing nearbycafes and restaurants, but all of them are great only in one or two directions(some - in special deals, some in reviews, some in photos)In summary we have an opportunity to make something like «universal» appfor searching best places nearby.
  19. 19. New BIG idea descriptionOur new idea is a «Universal App for choosing best places nearby with mobilecommunication platform».JUST IMAGINE:Now you have no need to select one best service (web or app) for searchingcafes and restaurants nearby (Yelp, Urbanspoon and others) from hundredswith the same functionality. Whatever service you have preferred, you haveno need to read plenty of customers reviews to make well-founded decision.And you have no need to compare different places on unspecific indicatorsby oneself and waste valuable time.All you need is to tap button «I want to eat», and choose the best nearbyplace using simple (but versatile in depth) indicators of popularity andsummarized user-generated opinion. Also you still will have a possibility toplace your own review to Urbanspoon / Yelp (or check-in in Foursquare)through the one app.
  20. 20. New BIG idea descriptionAnd that’s is not all..If after looking on presented simple indicators your decision on preliminarypreferred place is not clear, you could communicate with café / restaurantspokesman through the app. And receive personal offer not only with thesame coupon as now in other apps, but special dish for today, dish mostpreferred by you, his favorite drink and so on (based on user history). Or asksome questions and receive quick answer.We think this idea would be great not only for searching places to eat, butalso for places to drink, dance, watch, etc.
  21. 21. New BIG idea mechanicsWe can aggregate user-generated information of our best competitors(Urbanspoon, Yelp, Foursquare, etc.), analyze it, compare and present tousers in useful and simple way. For example, it could be done with two orthree different diameter coloured rings / dots on map for every place. Firstwould indicate popularity (more Foursquare check-ins – more diameter),second – user-generated opinion, summarized through Urbanspoon, Yelp,and other services.Also we intend to give cafes and restaurants possibility to communicate withusers of our app at the moment they search, and try to make personal offersto them (as now on web-sites). It could be shown as blinking on map ring /dot of café / restaurant that would mean “Hey! I have to say you somethinginteresting!”. Inside the message user will find details of offer and makeadditional questions.
  22. 22. New BIG idea mechanicsAs a result we could make something like real dialog on the street then caféowner invites walking around potential customers and persuade them tochoose this place instead of another ones. For the first time we canimplement simple programmed dialogs. Later it could be real communicationbetween our app user and spokesman of café / restaurant, connected byTwitter or somehow else.In this case our service could be expanded to platform. And it would be thenext step in apps for searching best places nearby.
  23. 23. New BIG idea Business ModelNew Value PropositionsFor customers of cafes and restaurants1. Location based information about best nearby place to eat / drink / dance /watch, etc. All data is and aggregated from popular services (Urbanspoon, Yelp,Foursquare, etc.), summarized and presented in very simple way2. Possibility to share own impressions to different services through one app3. Possibility to communicate with café / restaurant spokesman before makingfinal decisionFor owners of cafes and restaurants1. Possibility to have aggregated and summarized information about their ownposition against nearby competitors2. Possibility to communicate with potential nearby customers at the momentthey make a final decision3. Possibility to promote special offers and make personalized recommendations /offers on dishes, drinks and other
  24. 24. New BIG idea Business ModelNew Revenue StreamsAccess to communication platform and in-App advertisement of cafes andrestaurants (and other businesses with similar customers)Other parts of Business Model Canvas have not any revisions.
  25. 25. Next steps to new BIG ideaOur next moves are:•make new value proposition test on potential customers•discuss idea with potential mentors•go through others steps of Venture ClassAny assistance on this way would be very appreciated! :)
  26. 26. Great RED teamOleg ChumakovArchit PandeyBehailu ShiferawSachin RamjeAnton ZakharovAlexander PukhovYana BilynetsYaroslav AleksandrovSergey SmirnovBushra AlqaroutVadim NovitskiyAlexandr BajenovMikhail Firsanov – team lead http://venture-lab.org/teams/5214

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