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Sharismo - Early Stage Startup Presentation

Sharismo - Early Stage Startup Presentation

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    Sharismo presentation Sharismo presentation Presentation Transcript

    • Nikita Andreev
      Joey Zeng
      Sharismo
    • Team & Motivation
      UofT Industrial Engineering + NBTC
      Information Systems and Human Factors
      Stage Zero Solutions
      Abridged History:- Dissatisfied with information overload…- Favor Exchange- Life Resume- Sharismo
    • What We Say in Elevators
      Sharismois…
      For anyone…
      Who is dissatisfied with the limitations of existing review/local search websites.
      Our product is a location-based Q&A site
      That allows you to get answers about a particular place or local business.
      Unlike Yelp or Yahoo! Answers,
      We connect users directly to area experts and businesses, allowing for a personal experience.
    • The Problem
      Scenario: New Year’s in North York
      Scenario: Just Visiting San Francisco
      General: Social Networking Problem
      Specific: Business Communication Problem
      Traditional Q&A is nice to have, but rapid, reliable and relevant information is crucial.
    • The Solution
      Making users happy:- Rapid search for location of interest- Relevant information only- Reliable information refined through user feedback
      Sharismo does it better:- Talk directly to area experts- Two-way communication with local businesses
    • MVP (Min. Viable Product)
      Feature 1: Q&A functionality with geo-identification
      Feature 2: Users pre-select places they are familiar with
      Feature 3: Users only see questions related to their recorded locations
      Feature 4: Users can join tribes related to their interests/culture/location
    • Business Model – Part 1
      Potential Revenue Sources- Users (Premium accounts)- Ads (Banners, Sponsored Links)- Businesses (Subscription model)
      Existing Internet Business Models:
      Indirect: ads, lead gen, affiliate (CPA) ex. Yahoo! Answers, Google, Shopping.com
      Direct: subscription, virtual goods ex. Yelp monthly plans: $325, 500, 1000(Source: Andrew Chen, Revenue, andrewchenblog.com)
    • Business Model – Part 2
      Website is free to use (ask/answer)
      NO banner advertisements- Not effective (Facebook 4/10000)- Intrusive and annoying
      Subscription-based model- Businesses sign up (basic: $199/mo.)- Promote good contributors- Get recommended, drive traffic
      “Put your business on the (social) map”
    • Know Thyself
      Not trying to jump the “chasm” yet
      First: make a good (useful) product
      Product-centric value attributes(for early adopters):- Fastest- Easiest to use- Elegant architecture- Unique architecture- Product price(Source: Geoffrey A. Moore, Crossing the Chasm)
    • Viral Growth Strategy
      Make the experience like a game:- SocialPoint System, User levels - Promote feedback, Exchanges- Fun, Compelling, Addictive.. & Useful!
      Lower “buy-in”:- Facebook/Google Friend Connect- Tech Blogs, Mavens- Automated Emails- Landing pages, SEO/SEM
      (Source: Amy Jo Kim, Putting the Fun in Functional)
    • Metrics of Choice
      Acquisition: users come through channels
      Activation: enjoy 1st visit (happy!)
      Retention: come back multiple times
      Referral: like product, tell others
      Revenue: conduct monetization behaviour
      Channels: High Volume (#)
      Users: Low Cost ($)
      Why: High Conversion (%)
      (Source: Dave McClure, Startup Metrics for Pirates, 500hats.com)
    • Next Steps
      Advisory Services:- Financing and Funding Strategy- Business Planning- Social innovation/entrepreneurship
      Legal services- web/startup oriented, local, right sized, affordable- Rob Hyndman (Hyndman Law)- Suzanne Williams (Venture Law Assoc.)