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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.)