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Llp team17 final presentation

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  • 1. January 2013 Mockup Team#17 (Former) Career/Employer Review Day & Project Customer Discovery Day 1 Sheccess Day 2 Sheccess 58 Ruiqi Hu M.S. Management 25 Day 3 Mocku p 40 Day 4 Mockup Day 5 Mockup 10 Zhaoyu Li MBA 38 After-Class Mockup 257 Total interviews 290 -83 Sheccess -345 Mockup Linwei Chen M.S. Management 1/14
  • 2. Idea Evolution Customer Feedback Day1: 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: Sheccess Women’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: Mockup Peer 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?” 2/14
  • 3. Customer Discovery 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 oneon-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 parttime 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 3/14
  • 4. Target Customers Students (College& grad. Sch.) Want to help each other with Mock Interviews Seek a part-time job by giving interviews Feel happy and honored to help (Alumni) Professionals Extremely experienced mentors Current Target Desired Users 4/14
  • 5. Final Business Model Canvas -School Career Center -Alumni Association -Company recruiting teams -Interview preparing workshops -Platform building/maintenan ce -Online tools/packages development -Career advice institutions/website/g roups - Interview tools - Active users - Interview question bank (case bank) - Platform Development - Product Promotion - Maintenance - 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 -Peer to peer community -Online self-service platform Get: Career Websites, student groups, Free trails Keep: Level + Rating system, Customization Grow: -Word of mouth - Students preparing for internship/full time jobs interviews - Students seeking a part-time job by giving interviews -5% commission fee from paid interviews -$10/mo. Premium service -Advertisement (books, companies…) 5/14
  • 6. Business Model Free P2P Interviewer (Interviewee) Interviewee (Interviewer) Go-to-market Channels • School Career Office • Career websites • Student Career groups • Alumni Associations Paid Service Interviewee Value Proposition: - Fast and easy matching of practice partners - Online tool with Casebooks and question bank Interviewer Value Proposition: - Interviewee gets cheap interview service - Interviewer finds a way to help others and earns pocket money - Recorded Video for future review 6/14
  • 7. Customer Segments There are three types of target customers: A. Interviewer only C. Both B. Interviewee only 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 7/14
  • 8. How to use Mockup? Sign in with LinkedIn account View interviewers’ profiles, levels and ratings Complete profile and preference Options: Instant Match Up or Set Up Appointments E.g.: Set Up an Appointment: Search for an interviewer 8/14
  • 9. Choose available time slots; Send request and resume (optional) Waiting for the interviewer to confirm… 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 9/14
  • 10. Revenue Model Paid Service $$$$ 5% fee Premium Service $10/mo. $ Premium Service $10/mo. Mockup $$ $$ Advertisements *Premium Service: advanced searching, access to other users’ posted video and accelerated level upgrading $$ 10/14
  • 11. US Market Size US college and grad students Need mock interviews Total: 17.5 M1 70%2 Served: 12.25 M 50%2 Target: 6.125 M Willing to pay for interviews $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 1. 2. National Center for Education Statistics, Digest of Education Statistics, 4/28/2013 Mockup Survey, 1/17/14 11/14
  • 12. Break-even Analysis Hypotheses: 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 2 3 4 5 Fixed Cost $20,000 $20,000 $7,000 $5,000 $5,000 Variable Cost $10,000 $10,000 $20,000 $20,000 $20,000 Commission Costs 1 $1.00 $2.00 $4.00 $4.00 $4.00 $5 $6 $8 $10 $12 $3 $5 $8 $10 $10 # of Users 300 500 1000 1500 2000 Profit -$27,300 -$23,500 -$7,000 $11,000 $27,000 Revenue per Premium Service user Ads click 12/14
  • 13. 120-Day Plan 120-Day (16-week) Plan Week 1 2 3 4 5 6 7 8 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 Plans 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 System testing (cont.) Customer Development Phase II - Ivy League promotion - Social network, career network promotion Plans 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 13/14
  • 14. 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. 14/14

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