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