New business idea : LoCat

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2011, spring, Stanford Continuing Studies …

2011, spring, Stanford Continuing Studies
"Getting from an early idea to a real business.

Intstructor : Bret Waters

Made and presented by Hajin Lim

More in: Business , Technology
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  • 1. Rocket jump to the world2011 Spring / Getting from an Early Idea to a Real Business Final Presentation Hajin Lim
  • 2. , developing “Location-based social network”,to help people who want to connect based ontheir own favorite places, by making it easy to make new friends andcommunicate each other through mobile App, with Local business Marketing tool.
  • 3. GPS Smart phone
  • 4. High Social Low Information Low High
  • 5. Share any kinds of places; restaurant, gallery, park, tourist attraction, etc :- Photos, videos and Comments archive- Friends recommendation / Share friends list with- Local business Marketing tool- Fun factor : Visit ranking
  • 6. - Friends recommendation : more than 2 common favorite location- Watch list : New photo & comment from my friends or from added places- Nearby place Recommendations / Search- Owner of a store : Control their pages / Update their latest news, special deal or coupon
  • 7. people Loves Pics & comments   people Loves Pics & comments  By, gretyy34We love GGB, next time, we’ll bring bicycles yey!!: )2.0 mi Mayflower Seafood restaurant 57 people loves 157 Pics2.1 mi Palace of Fine Arts 35 people loves 67 Pics
  • 8. Name Popularity Check-inPhoto archive Be a friends with her Events and deal of this store
  • 9. Home What’s Next? Watch list Friends Info• Augmented • Search locations • Friends’ update • Friends • Customize reality by using by keyword activity recommendatio settings camera • Recommendatio • Added places n based on • Private info• Photo n by friends, page update common places +comments distance and Activity • Manage place archive interest list and friend list• Add a place & • Connect with Add photo other social networks
  • 10. Grade Latest Visit First In a week (7 days) Second In 2 weeks (15 days) Third In a month (30 days) Forth In 2 month (60 days) Fifth In 3 month (90days) Depending on the grade, special offer like discount or up size up will be offered.Make and Keep regular customers; Enhance loyalty
  • 11. - Give the right to control store’s page to owners Basic ($20/month) Premium ($30/month) -Own store’s account. -Direct Newsfeed to customer -Deliver Coupon and redeem code. -Blocking Recommendation of nearby store -In Search result, it’s showed more prominently -Launch various events and deal depending on visit ranking News feed (Max 3/day) News feed (Max 5/day) Provide Monthly Data Provide Weekly data- Mobile/web Ad- Social commerce
  • 12. - Clear revenue model as marketing tool -- -Many preoccupied social network- Easy and intuitive interface based on location- Focus on keeping regular customer - Gathering users is not so easy- Making new friends -Hard to convert from-Ideal mixture of informational andsocial S trength W eakness -free member to paying member SWOT-Easy to expand it to anotherservice model like online dating O pportunity T hreaten -Privacy issue -Limited target - People’s recognition, recruiting and social commerce. -Have no bargaining power to- Powerful local communication channel cooperate with big companies
  • 13. - Easy and fun brand imaging : “Locat” ion- First Six month : as a Basic member- Affiliate with big restaurant and coffee chain to spread “Locat” quickly- Develop specific local- based services with major social- commerce company- Online Ad : SEO, Google AdWords, Facebook, blog- PR at variety kind of media
  • 14. Revenue Q3 2011 Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Menbership service revenue $0 $9,500 $45,000 $108,000 $270,000 $420,000 Mobile/Web Ad revenue $0 $590 $8,700 $12,700 $28,000 $38,000 Affiliate revenue $0 $5,000 $23,000 $75,000 $104,000 $194,000Total Revenues $0 $15,090 $76,700 $195,700 $402,000 $652,000Cost Salaries and wages $23,000 $23,000 $45,000 $52,000 $78,000 $97,000 Marketing&Advertising $5,000 $8,800 $12,500 $19,000 $23,000 $55,000 Web hosting and domains $3,000 $8,000 $12,000 $24,000 $40,000 $80,000 Rent $0 $0 $3,000 $3,000 $5,000 $5,000 Research and development $300 $1,000 $7,000 $4,000 $10,000 $20,000 Utilities $100 $100 $530 $530 $600 $1,000 Travel $2,000 $3,000 $3,000 $2,000 $5,000 $3,000 Legal $30,000 $1,500 $1,500 $1,500 $1,500 $1,500 Accounting $1,300 $1,300 $1,300 $1,300 $1,500 $1,500 Interest $3,750 $3,750 $3,750 $3,750 $3,750 $3,750 Other $1,000 $2,000 $5,000 $500 $3,000 $5,000Total SG&A $69,450 $52,450 $94,580 $111,580 $171,350 $272,750 [42] Net Income -$69,450 -$37,360 -$17,880 $84,120 $230,650 $379,250 Growth Rate 46.2% 52.1% 570.5% 174.2% 64.4%
  • 15. - The company seeks to raise $150,000 from angel funding and start-up capital.- Within 5 quarters, we expect to reach profitability.
  • 16. Rocket jump to the world