2. Welcome to Day 2!
Quick Announcements
● Please sit with your team members
● Name cards are helpful! Please continue to put them up
● Remember to sign in when the sheet is passed around
● Please grade and provide comments to the other teams‟ presentations
● Yesterday‟s lecture presentations will be emailed or available on angel today,
including Alexander Osterwalder‟s presentations. Lecture slides are not available
prior to the lecture
Order of Presentations
7. Jiae
1. YSN 8. Factabase
2. TVM Technologies 9. eFood
3. Table Compass 10. Digital Exchange Network
4. Social Crowd 11. Diagnosly
5. Mobile Marketing 12. Bakamba
6. Kadak 13. Pulze
2
3. Technology for medical and comfort problems of the feet
Advanced
Entrepreneurship
Day 2
April 17, 2012
Interviewed 35 people (end-users) Team
Brian Vogt
Doug Carlson
Mohamed Maimouni
AG Crum
Gabriel Giles
Sameer Kotak
4. TEAM NAME HERE FILL OUT ALL 9 BOXES OF THE CANVAS IN ORDER 1 THUR 9
Get, keep, grow?
Partners? Activities? Customer’s End-users: PR,
Shoe mfg.'s/ Customer problems? End- branded captivity Most important?
branders by input, IP users: foot sweat, Partners: Men, dress &
region , filings, beta hot, cold, fatigue. Convince of business casual
development development, , su Partners: unique value for
ppliers differentiation end-users Archetypes?
Suppliers?
(1) Sought med
Component Customer needs?
(2) UnSought med
mfg.'s, Ventiva Comfort, medical /
(3) Tech „comfort‟
Profitability growth
Getting? Reach segments?
Technology, Resources? Product features? Established
Job to get done?
manufacturing Development Battery powered partner retail
Enable comfort
Giving? partner, seed shoe sole outlets (brick &
and productivity
Differentiation funding ventilation, cooling, mortar)
and price heating, massage
Making money & pricing model?
Inherent in our model? $40mfg‟ed, 80 soles, 200 shoes, 400 retail
Variable material, mfg overhead 400 retail
250 retail
5. Market size
• Medical (sweat) – Hyperhidrosis, 1-3% impaired
• General (sweat) – comfort, 10-30% problematic
• $14B global … high-tier dress & business casual
• 3% total-med SOM volume = 2M pairs, $500m (to be verified)
• Additional tech luxury (to be quantified)
6. Business type
Startup …
• Contract manufacturing of self-contained shoe sole
• Sell as branded component to shoe makers
• Customers are partners and end-users
• Limited partners globally
7. Proposed experiments
Startup …
• Verify data & hypotheses on total med market –
• podiatrist, dermatologist, foot clinic, sweat-help orgs
• channels, reimbursement, sizing, etc
• Design new experiment to quantify ‘tech comfort’ segment
• Discuss business type options (contract manufacturing,
licensing, IP) with the brands
• Survey end-retail to better understand requirements
8. Table Compass
Advanced Booking Discounts for Restaurants
10 Restaurant Interviews
Sarah Brown William Cooke Dennis Kwon Robert Montrone JaidevRao AbhishekSheetal
EMBA ‟12 EMBA ‟12 MBA ‟11 EMBA ‟12 EMBA ‟12 EMBA ‟12
Consulting Strategy & Engineer / Tech Consultant / Management Tech Marketing /
Neuberger Financial Entrepreneurship TV Producer Consulting Strategy
Berman Planning Lala.com ABC Television Rothstein Kass LeCroy Corporation
Blue Sky Solar
9. Table Compass
Key Partners Key Activities Which of our customer’s How will we Get, Who are our most
Restaurant owners • Platform design and problems are we helping to Keep and Grow important
solve?
development • Empty tables
Customers? Retention customers?
Key Suppliers • Business • Difficulty making plan: points system, Both restaurants and
Possibly Open Table development, reservations Groupon, promotional end users
partnerships and • Price item, value add free
What are we getting marketing meal, etc. What are their
Which customer needs are
from them? we satisfying?
archetypes?
Reservation Service • Restaurants: revenue People who
management, working plan, price
capital conscious, occasions,
Giving them? • End Customers: groups of friends
Restaurant traffic discounted meals,
secured reservations, Through which
restaurant comparisons Channels do our What Job do they
Customer Segments want us to get done
Key Resources What are the Key Features want to be reached? for them?
• Designers, Engineers of our product that match • Restaurants: face to End customer:
• Business customers problem/need? face meetings
• Discounted pricing
discounts
development, Sales • End Customers: Word Restaurants: fill seats
• Restaurant discovery
• Money of mouth marketing,
online, direct email
What are the most important costs inherent in our How do we make money? What’s the revenue
business model? model? Pricing tactics?
Fixed Cost: Building the website Options: listing fees, percentage of restaurant fee,
Variable: Marketing, sales people, advertising restaurant flat fee, first year free, etc.
10. Hypothesis Test Results
Mixed
Yield management is a (confusion, pro, not
Asked 10 restaurant important)
real issue for
owners and managers
restaurants More of an issue for
high-end vs. low-end
Working Capital is a Asked 10 restaurant Yes, money up front is
concern for restaurants. owners and managers great
Restaurant discount
sites have muddied the
Restaurants are OK Asked 10 restaurant
water/ some said 10%
with giving discounts owners and managers
max on food/ some
said easier for alcohol
11. Customer Quotes
• “Retention on a discount customer in a restaurant is
almost zero”
• “Discounts work in other businesses really well but
maybe not in restaurants”
• “We don‟t take reservations. Too many no shows and
then we have to turn people away”
• “It‟s really hard for people to wait for money”
• “I‟ve been burned by this shit before so I‟m hesitant to
deal with it again”
• “I get 5-20 phone calls from people like you every day”
12. Table Compass
Key Partners Key Activities Which of our customer’s How will we Get, Most important
Restaurant owners • Platform design and problems are we helping to Keep and Grow customers?
solve?
development • Empty tables during
Customers? Retention • Medium-high end
Key Suppliers • Business slow periods plan: points system, restaurants that
Possibly Open Table development, partn • Difficulty making Groupon, promotional currently use
erships and reservations item, value add free online
What are we getting marketing • Price meal, etc. reservations
from them? Which customer needs are
• End users
Reservation Service we satisfying?
• Restaurants: Revenue Archetypes?
management, Working People who plan,
Giving them? capital price conscious,
Restaurant traffic • End Customers:
Discounted Through which occasions, groups of
bookings, secured Channels do our friends
reservations, restaurant Customer Segments
Key Resources comparisons want to be reached? Job they want us to
• Designers, Engineers • Restaurants: face to get done for them?
• Business What are the Key Features face meetings
of our product that match
End customer:
development, Sales • End Customers: Word Discounted bookings
customers problem/need?
• Money • Discounted pricing of mouth marketing, Restaurants: Fill
• Restaurant discovery online, direct email seats, Working
capital
What are the most important costs inherent in our How do we make money? What’s the revenue
business model? model? Pricing tactics?
Fixed Cost: Building the website Options: listing fees, percentage of restaurant fee,
Variable: Marketing, sales people, advertising restaurant flat fee, first year free, etc.
13. 13
[Social Crowd]
An online forum where (local) Finders & Grinders meet
jerry sanders
4/16: 12 interviews (5 Finders; 7 Grinders) Group 14
14. The Problem 14
Yesterday… we were almost right.
Small businesses (“Grinders”) -- which are essential to vibrant
communities -- face increasing threats to viability due to the
inaccessibility of:
•Development capital
•Working capital
•Third party contractors (planning, design, construction)
They rely on the “Finders” of new business opportunities (aka
investors) to provide the illusive capital inputs.
[Social Crowd]
jerry sanders Group 14
16. Interview results 16
We struck oil!
Broad questions aimed at two key stakeholder groups revealed
the following trends:
•2 types of small business owner: self- & third-party funded
•Grinders want access to small amounts of capital $10K-$2M;
typically they had LT r/ships with third party contractors
•Structural holes exist between the ‘Money Men’ (Finders) and
the ‘Operators’ (Grinders)
•Finders have limited time for DD; don’t want to be bothered
unless the opportunity ‘has legs’
[Social Crowd]
jerry sanders Group 14
17. Type of Business 17
The solution (version 1.1)
• Online ‘matchmaking’ forum to connect F&G
• Differentiating factors:
– Local project focus
– Investments of $10K - $2M
– Improved efficiency & compatibility:
• Screening process conducted by a panel of CBS
graduates with NYC start-up success
• Ability for both parties to upload a profile
– Investment history / prior start-up success
– “I am looking for…”
[Social Crowd]
jerry sanders Group 14
19. [Social Crowd] FILL OUT ALL 9 BOXES OF THE CANVAS IN ORDER 1 THUR 9
19
One-off:
- Platform design
Ongoing:
- Screening An online - Semi-automated Finders:
- Marketing „matchmaking‟ forum - Local community- Individuals & groups
- Independent
- IT maint. & where F&G connect. focused seeking investment
business
organizations support opportunities that
- Community - New market ID Finders: Investment provide (i) requisite
funding efficiency through a returns and (ii) a
institutions screening process direct benefit to a
- Local business that ensures only the local community.
school alumni top ideas are posted.
- Personal Grinders:
connections Grinders: Access to - Direct contact Start-ups and locally
- Customer d/base
- Local business small amounts of through website owned businesses
- Proprietary
activists capital typically hard - Local news & PR seeking capital
knowledge
to acquire through channels investments of
- Brand copyright
institutional routes. - Word of mouth $10K-$2M
- Site skin:
look, feel
Value-driven: Most important costs include:
- Web platform development Dual revenue structure:
- IT management & technical support - Finders Fee (2% of consummated deal value)
- Marketing & customer acquisition - Grinders Fee ($250 application review fee)
jerry sanders
- Application review costs (experts) Group 14
20. Market Size* 20
Number of new small businesses
Target Market
Total Addressable Market In 2010, NYC
600,000 new small accounted for
businesses per 5% of the new
year in the small business
United States launches in the
600,000 200,000 10,000 United States
Served Available Market
Assume 1/3 are self funded & 1/3 are funded by
conventional (institutional) facilities
[Social Crowd]
jerry sanders *Need to pressure test these assumptions
Group 14
21. Proposed Experiments 21
Diving deeper…
Test Activities
Genuine market size Further research to determine the accurate dollar value
attributable to our target market
Customers’ willingness to pay Surveys & interviews to determine:
Perceived value in CBS Alum review process
Value attributed to time-saving component
Pricing sweet-spot for fees: F&G
Importance of the local aspect Surveys & interviews with F&G to determine
Research local investment statistics
Research industry constituents
How to plug (not bridge!) the gap Surveys & interviews to determine impact of
consummating:
a good deal: loyalty to us or the contracting party?
a bad deal: negative splash-back on us?
[Social Crowd]
jerry sanders Group 14
23. Hypothesis Facts
Can be solved by
Restaurants have offering a flexible
a marketing web-based tool to
problem execute marketing
campaigns
People would like
People don’t like
to receive it if they
to receive random
were able to
advertisement
manage the
(email, SMS)
content
24. Owner of 5 Restaurants Manager of a New York
in New York Restaurant Chain
Main Problems • People retention • People retention
• Access to capital • Increasing sales ( breakfast, grab-
• Sale fluctuation and-go)
Marketing • Customer more loyal to booking • Chain manages the marketing
Problem services than to the restaurant campaign
Description • Significant spend on online • Developed focused campaigns
marketing and discounters fees ( • GM doesn’t engage in websites
>$5K pm) • Have developed a loyalty customer
base
Interest in the • If it works and reduces the total • See the potential on addressing
solution spent on marketing people passing by
• Could give certain discounts to get • Willing to try the product and ready
new customer but there is a limit to give 50% of the profit of the new
because of the margin campaign
• Will pay on results
Others • Against building a culture of getting • High on reviews that allowed them
customers due to discount to build a customer base
• Nearby restaurant is rebranding
because of bad reviews
25. Segment 20-27 (6) 28-35 (6) 35-45 (2) 45+ (2)
(surveys)
Main reason for • Location • Quality • Quality • Quality
choosing a • Price • Looks • Tidiness • Tidiness
restaurant • Quality
Selection • Website • Word of mouth • Zagat • Known
mechanism • Zagat restaurants
Restaurant • Don’t do much • Yes, but to • Don’t do much • Don’t do
Advertisement known
customers
Reaction to email, • Annoying but • Annoyed by • Don’t want to • Don’t want to
SMS allows you to too many receive any receive any
advertisement get a discount advertisements
• Prefer email
Would they accept • Only if you can • Only if you can • Only if you can • Only if they
to get email, SMS choose what choose what choose what liked the place
advertisement you get you get you get
• Sizable • Max number of
discount messages
App that could like • Email with • Proximity app • Proximity app • Proximity app
(guided question) pictures send including including including
for what you quality, price quality and quality and
are interested and discount price price
26. Hypothesis Facts
- There is a marketing
Can be solved by
problem
Restaurants have offering a flexible
- Reviews are the main
a marketing web-based tool to
issue
problem execute marketing
- Only see a potential in
campaigns
the product
- They don’t like
People would like
People don’t like random email, SMS
to receive it if they
to receive random - Would if they were in
were able to
advertisement control
manage the
(email, SMS) - Want to mix quality
content
and price
27. Mobile Marketing
Key Activities do
we require? Restaurants want
Marketing - Restaurants to Get/keep/Grow to minimize the
Who are our Key Campaign reduce sales Customers? dependency on
Partners? templates, fluctuations - Low-cost platform discounters
Online Software
advertisement development, - Restaurants to - Mkt Campaign
Restaurant want to
relationship engage customers Templates run local marketing
Who are our key building campaign ( 2 mins
suppliers? breakfast , cheap
Telecoms, search - Cheap and an bagel after 11am,
engines effective way of …)
reaching the
What are we customers
getting from What Key
them? Giving Resources we - Reaching local
Which Channels?
them? require? customer
Online
Message delivery People, IT (location based)
services infrastructure (data
center)
Important costs? Fixed? Variable?
Software (technology) development, (fixed) Fee per marketing campaign, monthly
marketing/sales (variable) subscription fee
28. In person Interviews – 78
Adeem Fenster Stella Chan Richard James
Shashi Shrimali Sanjay Bharadwaj Neeraj Lal
29. Kadak – 04/16/2012
Who are our Key What Key Activities do
Partners? we require? How will we Get, Keep
• Indian stores and Asian • Purchasing raw material
and Grow Customers?
stores • Brewing tea Which of our customer’s • Consistent quality
• Setting up retail outlets
problems are we helping Who are our most
• Eventually tea makers • • Increase product variety
Advertising, & marketing
to solve? • important customers?
• Indirect distribution • Setting up customer feedback loyalty program tea card
• consumer have limited • word-of-mouth from students • repeat customers, Asian-
through -- subway, channel and analysis
(campuses)
• Business development with access to authentic Asian immigrants consumers
panda express • Tea cart promotion via
campuses tea in a retail format • health conscious
• Product mix creation Facebook or Tweeter
Who are our key • Tea tasting event to collect customers
• FP&A management
suppliers? • Hiring customer feedback (via iPad)
• Indian store from NJ Which customer needs What are their
• Chinese stores from are we satisfying? archetypes?
Chinatown • Desire to consume authentic • The Indian
• Grocery stores such as Asian tea outside home • The rising teen
Wal-mart • Healthy parents
• Restaurant • Undergrads
utensils/hardware What Key Resources we • Baby-boomers
What are the Key Through which
suppliers require?
Features of our product Channels do our
• Money What Job do they
that match customers Customer Segments
What are we getting • Retail outlets want us to get done for
problem/need? want to be reached?
from them? Giving • POS system to track sales them?
them? • taste of our tea (quality) • direct retail
• SAP system for accounting • make the tea (incl.
• Milk, sugar, Splenda, tea • License from NY / Campus
• the availability of tailored • direct-to-home
picking the best
leaves, cups, spices, flavor delivery
approval ingredients)
• speed of delivery
pots/pans • HR for hiring & training • education of tea
• MONEY, more revenue • convenience
• Tea brewing equipment
What are the most important costs inherent in our
business model?
Fixed How do we make money? What’s the revenue model?
• Rent Pricing tactics?
• Equipment, furniture and fixtures • Low Intro promotion price to attract customers($1.99)
Variable • Keep the price close to Starbucks thereafter
• Raw materials & supplies • Never price below breakeven even during promotion period
• Employee salaries • Find ways to give them discounts (survey --- buzz discounts)
30. GLOBAL HOT US HOT
DRINKS DRINKS
MARKET MARKET
Coffee Coffee Tea $2b
Tea $9.5b
$75b $42b
Other Hot Other Hot
drinks $0.4b
drinks $16b
Tea is expected to grow +4% in the next 5 years as
compared to Coffee of +2%
31. <<Findings>>
Consumers Channel
• Lots of tea drinkers •Owners/managers see hot tea as an essential menu
offering and would switch suppliers
•Most prefer to consume •Significant diversity in the quality of teas offered exists:
tea at home • Economy, mass produced, bagged tea
• A retail format is not as • High quality, steeped, whole leaf teas
desirable •Economy: purchased in bulk from wholesalers
(manufacturers = Unilever, Nestle etc)
• Quality of tea is problem • High quality: purchased from domestic specialist tea
• Health is a big reason merchants (importers/blenders), e.g. Numi (California),
• Sweet spot was $1.99 Teaguys (Mass)
for good quality tea •Taste, aroma, exoticness,
presentation/packaging, reliability, sourcing are
• Lack of awareness of key attributes
varieties of tea • Distinct lack of brand awareness in this segment
– customers do not know who‟s tea they are
drinking!
32. Business Hypothesis
Hypothesis Tests Results
Desire to consume
20% outside the home
authentic Asian tea Interview
66% preferred at home
outside home
consumer have limited
38% have access in a
access to authentic
Interview retail format
Asian tea in a retail
format
53% consume tea at
make the tea (incl.
home
picking the best Interview
38% not satisfied with
ingredients)
the quality
33. Business Hypothesis
Hypothesis Tests Results
Particular about the 38% not satisfied with
Interview
taste of tea (quality) the quality
Many comments on
Lack of retail survey citing
availability of tailored Interview
inconsistency versus
flavor home
Only 7% cited
Consumers care about convenience as a
Interview
convenience/speed preference
34. Business Hypothesis
Hypothesis Tests Results
Consumer wants to be Only 20% cited retail
reached through retail Interview channel as the
channel preference
Customers are willing Only 19% were willing
to pay Startbucks Interview to pay > $4
prices for good tea. 38% chose $1.99
66% of responses
We need to educate chose English
customer about breakfast, Indian
Interview
different varieties of chai& green tea out of
tea. 20 choices.
35. Business Hypothesis
Hypothesis Tests Results
Demand from health 66% cited health as the
Interview
conscious consumers reason for drinking tea
83% drink tea averaging
Demand from students Interview slightly over 1 cup per
day
94% of Asian consume
tea versus 88%
average
Demand from Asians Interview
Cups/day slightly
above average
Caucasian #2 group
36. Kadak – 04/17/2012
Who are our Key What Key Activities do
Partners? we require? Which of our customer’s How will we Get, Keep
• Indian stores and Asian • Purchasing raw material problems are we helping and Grow Customers?
• Brewing tea Who are our most
stores to solve? • Consistent quality important customers?
• Setting up retail outlets
• Eventually tea makers • consumer have limited • Increase product variety
• Advertising, & marketing
•
• repeat customers,
• Indirect distribution • Setting up customer feedback access to authentic loyalty program tea card
• word-of-mouth from students Asian-immigrants
through -- subway, channel and analysis
Asian tea in a retail
• Business development with (campuses) consumers
panda express • Tea cart promotion via
campuses format
Facebook or Tweeter • health conscious
Who are our key
• Product mix creation • BRAND - TBD • Tea tasting event to collect
• FP&A management customers
suppliers? • Hiring customer feedback (via iPad)
• Indian store from NJ Which customer needs
What are their
• Chinese stores from are we satisfying?
archetypes?
Chinatown • Desire to consume • The Indian
• Grocery stores such as authentic Asiantea
Wal-mart • The rising teen
• Restaurant outside home • Healthy parents
Through which
utensils/hardware What Key Resources we Channels do our • Undergrads
suppliers require? What are the Key Customer Segments • Baby-boomers
• Money Features of our product want to be reached?
What are we getting • Retail outlets that match customers What Job do they
• direct
from them? Giving • POS system to track sales problem/need? want us to get done for
them? retail/franchise
• SAP system for accounting • taste of our tea them?
• Milk, sugar, Splenda, tea • License from NY / Campus model
(quality) • make the tea (incl.
leaves, cups, spices, • direct-to-home
approval • the availability of picking the best
pots/pans • HR for hiring & training delivery ingredients)
tailored flavor
• MONEY, more revenue • Tea brewing equipment • education of tea
• speed of delivery
• convenience
What are the most important costs inherent in our
business model?
Fixed How do we make money? What’s the revenue model?
• Rent Pricing tactics?
• Equipment, furniture and fixtures • Low Intro promotion price to attract customers($1.99)
Variable • Keep the price close to Starbucks thereafter
• Raw materials & supplies • Never price below breakeven even during promotion period
• Employee salaries • Find ways to give them discounts (survey --- buzz discounts)
37. Jiae.com: Interest based platform for creative minds in China
Team: Deymon Chen, Yu Guo(Hugh), Mathias Rosenthal, James Hagen
10 Interviews
2012.04.16
and 9 design students from
Rich Tong
Tumblr Fashion Director
Fashion Blogger
41. Interview insights From Fashion Blogger
Satisfaction with platform promoting good quality photos based content
Content Quality is the key, platform needs to drive awareness for good photos
Traffic is the most important incentive for these fashion bloggers
Feedback is a way to keep them sharing
Keep touch with community is another motivation for them to share
Creator of the photos, many bloggers post 50 original photos daily
Sharing different photos on different sites, 10 each
Pinterest has more curators, rather than creators with affiliated model with sites
Tumblr has more curators, together with curators
Dribbble attracts lots of designers to share partial original design works
Fancy focuses on driving sales to B2C sites with good quality merchandising photos.
Barriers in china is high for these emerging photo based US SNS sites to enter China
Sources of good photo and good fashion bloggers in China are limited
Demand for good photo based information is high
Lifestyle inspiration ideas are what users are looking for on these photo based sites
43. Jiae: leading interest based online community in China
•Design School •Platform Management • Photo based nice and •1:1 Customer Support •Fashion Bloggers
•Design Media •Customer Acquisition clean SNS platform
•D-School Ambassador •Designers
•Government •Expanding Reach • More Traffic
•Web Partners •Community Management •Consumers
•Companies/Brands • Find, organized and •Companies
share inspiration Ideas
•Advertiser
effectively (Designers)
• Find jobs/projects
(Designers)
• Showcase Portfolios for
Feedback
•Platform •China Photo Related sites
•Customer Base • Find Good Designers •China SNS Sites - weibo,
•Brand (Companies) renren, qq, douban
• Design Marketplaces
(All Customers) •1300 Design Schools
•Design Message Boards
•Jiae.com
Platform Costs Advertising
Customer Acquisition Costs Design Marketplace
Marketing and Sales Costs Free Interest Based SNS Platform
44. Columbia B7739-002: Advanced Entrepreneurship
Jiae
TEAM MEMBERS Deymon Chen Hugh Guo Mathias Rosenthal James Hagen Scott Yoo
Degree program and EMBA Global-Asia EMBA Global-Asia Columbia Business Columbia Business EMBA Global-Asia
Department/Major 2013 2013 School 2012 School 2012 2013
Provide your LinkedIn http://www.linkedin. http://www.linkedin.c http://www.linkedin.com http://www.linkedin. N/A
public profile URL com/pub/deymon- om/in/guoyu /pub/rosenthal- com/in/jamesohag
chen/48/2a4/12 mathias/24/7b8/97a en
Are you the subject Business User Experience Business development Business Marketing; Sales
matter expert (SME) Development Design, Business Development
for this team? Development
Pick a role you think Hustler Designer Product Picker Strategist Hustler
you most likely will
play on this team
(Hustler, Hacker,
Designer or Product
Picker)
Anything interesting Citibank, Setup Chief Designer of Banking, Startup-Chile, eCommerce Doosan marketing
we should know about China’s first rural Baidu.com, Blogger North American President, social regional manager,
you (be brief) foreign lending Chilean Chamber media strategist for supply chain
company nonprofit management
45. TEAM FACTABASE
8 Interviews already
conducted
20 pending
46. 8 POTENTIAL CUSTOMERS AND AN INDUSTRY EXPERT HELPED US FOCUS
OUR SEGMENTS, RELATIONSHIPS AND REVENUE STREAMS No Change
Changed
Value
Industry # Prop Segments Relationships Revenue Streams
Financial Same • Non-frequent • Automated • Per table
Services 2 (4)
Service
Market Same • Needs are • Automated • Limited only
1 (1) frequent Service to per table
Research
however has a
risk of limiting
growth
News Agencies Same • Non-frequent • Automated • Per table
1 (2)
Service
• Frequent • Automated • Subscription
Consulting 1 (4) Same
Service
Entrepreneurs
Same • Non-frequent • Automated • Per table
&Indp 2 (3)
Researchers Service
Universities 0 (2)
Pending Interviews
App Developers 0 (2)
8 (20)
47. WE INITIALLY BELIEVED THAT THE MAJORITY OF CUSTOMER SEGMENTS
FALL UNDER A FULL ACCESS SUBSCRIPTION SERVICE
Universities Consultancies
Comprehensive
Financial Services
Firms
News Agencies
Coverage Needed
Full Access Subscri-
Per Table Charge ption Based Service
Entrepreneurs Market Research
and Independent Firms
Researchers
Sector Specific
Sector based Subscri-
Per Table Charge ption Service
Less Frequent Frequent
Frequency of Need
48. HOWEVER, IT SEEMS THAT LESS OF OUR CUSTOMERS ARE INTERESTED
IN A SUBSCRIPTION PACKAGE AND ARE MORE INTERESTED IN A PER
TABLE ACQUISITION
Consultancies
Universities
Comprehensive
Market Research
Firms
Coverage Needed
Full Access Subscri-
Per Table Charge ption Based Service
Entrepreneurs
and Independent News Agencies
Researchers
Sector Specific
Financial Services
Firms
Sector based Subscri-
Per Table Charge ption Service
Less Frequent Frequent
Frequency of Need
49. OUR BUSINESS MODEL CANVAS AT DAY 0
• Automated Services
Enhancing access to
• National Statistics • Collecting and preparing public statistics on • Personal assistance Companiesand
Offices the statistical tables emerging markets that • Co-creation individuals with a
• Development of often have issues need for detailed
• Public Authorities automation software and relating to: public statistics on
webapps 1) Availability: Emerging Markets.
• International • Customer acquisition and Believed to be non • Frequent and
Organizations management existent or are comprehensive
difficult to find. (Financial services,
consulting, Media,
• Companies that 2) Convenience: Universities and R&D)
publish public Require multiple • Frequent and
statistics steps to prepare sector/country
them for use and/or specific (Ad Agencies
compare multiple and Market Research)
• Online
tables from multiple • Non-frequent and
• Software/Web
sources. comprehensive
developers
Through a user friendly • Direct Sales (Individuals or Students)
• Research analysts • Non-frequent and
one-stop setting with
• Data entry people sector/country
easy search,
• HR and admin specific
visualization and export
• Business (Entrepreneurs,
options. International investors)
Development
• IT Infrastructure
• FTE, IT costs, Rent (Fixed) • Subscription model (comprehensive or
• Part time employee salaries, SEO (variable) sector/country specific) for premium tables
What are the most important costs inherent • Per-table sale options for premium tables
• Ad-based modelmake money? What‟s the
How do we for free tables
in our business model? Fixed? Variable? • API access for applicationPricing tactics?
revenue model? developers
• Special pricing for customized reports
50. OUR BUSINESS MODEL CANVAS AT THE END OF DAY 1; FOCUSED CUSTOMER
SEGMENTS, RELATIONSHIPS, CHANNELS AND REVENUE STREAMS
Enhancing access to • Automated
Services
• National Statistics • Collecting and preparing public statistics on Companiesand
Offices the statistical tables emerging markets that individuals with a
• Development of often have issues need for detailed
• Public Authorities automation software and relating to: public statistics on
webapps 1) Availability: Emerging Markets.
• International • Customer acquisition and Believed to be non
Organizations management existent or are • Frequent
difficult to find. (Consultancies)
• Companies that 2) Convenience:
publish public Require multiple • Non-Frequent
statistics steps to prepare (Financial Services,
them for use and/or Entrepreneurs,
compare multiple Individuals, News
tables from multiple • Online
• Software/Web Agencies)
sources.
developers
Through a user friendly • Direct Sales
• Research analysts • API access
one-stop setting with (special datasets)
• Data entry people
easy search,
• HR and admin
visualization and export
• Business
options.
Development
• IT Infrastructure
• FTE, IT costs, Rent (Fixed) • Subscription model (comprehensive or
• Part time employee salaries, SEO (variable) sector/country specific)
What are the most important costs inherent
• Per-table sale option
in our business model? Fixed? Variable?
• API $xx per call
52. End Users Value propositions
Hypotheses check
28 interviews • Save time (finding and delivery) - YES
Grocery Shopping and • Reduce costs (waste, best deals) - NO
Inventory Management is • Diet advisory - …not tested
an Inconvenient Process • Recipes management &
recommendations - … not tested
5 interviews
Restaurants lack robust
• Save time (finding and delivery) - NO
and reliable inventory
• Reduce costs (waste, best deals) - NO
system for keeping track of
food and beverages
53. Test Details - Grocery Shopping
Results
Most shoppers find it to be inconvenient
Method for tracking inventory is un-
sophisticated
“looking in the fridge” / taking notes
Test Online shopping / delivery used in 80% of
tests in W Village
Found potential partners
We tested 28 consumers in Fresh Direct
three grocery store Max Delivery
locations Fairways
Wholefoods Market – Two people had actively considered the
Midtown concept and wanted to use it,
Citarella – West Village Connection to online delivery platform not
Columbia Grocery Store essential
Tracking of data was deemed to be a negative
for one interviewee
People still want to buy perishable goods
themselves
Not relevant to students
54. Test Details - Restaurants
Test
We tested 5 restaurants
owner in: Results
• Bahamas (several
Hotel/restaurants): Most of the restaurants have an automatic
high-end inventory system.
• West Village : A minor problem might be the beverages -
asia-fusion solutions are already in place.
• Times Square:
convenient
58. Customer Segmentation- Start at The
High End & Work Down
• TOP 5% of LinkedIn users..roughly 10 million people.
• Educated professionals, income above $80,000 a year
• People for whom networking is a regular activity for real time
or future benefit
• People who have exchanged a piece of information worth
more than $500
• People who place high value on creating
goodwill, validation, stronger connections,
verification. Capturing this will be a major
differentiator.
59. Customer Sentiment/Emotions
• SOCIAL…connected, ambitious, worried about advancement,
anxious about execution of their job,
• OPEN to helping others but not into free love
• ENGAGED…I have built a lot of goodwill in the world and
sometimes feel like it doesn’t come back around
• MAGNAMIOUS... I like doing things for other people
• “SEEN” Want to be appreciated, admired for what I do. Would
like the world to really “see me.”
• BELONGING.(I might deny it) but I like being member of the
right club
• KARMA..is real
60. VALUE PROPOSITION
• HYPOTHESIS: People want to exchange high value
business information online. This value is well
understood and there is WTP for some.
• RESULT: Some willingness to try, but some late adopters
scared of compromising relationships, “is it still personal?
confidential? Not sure I’d actually use it? Why would I give
away high value unless I know you” Realization that
networks are very important. Already use some form of
socially enabled marketplace, “buyers have nothing to
offer..not an equal exchange.” IS IT REALLY HIGH END?
61. DROWNING IN TWEETS?
• HYPOTHESIS: Users are frustrated by energy
spent on LinkedIn/social platforms or want
an alternative with more value OR stronger,
BETTER connections and verification.
• Result: Some recognition of the potential for private/high
level groups. “Keep it smaller and closer.” “I don’t blog or
tweet, don’t care. SEC rules” If it can get me more business…
sure. What do I get out of LinkedIn?
62. I NEED THIS?
• HYPOTHESIS.. Top uses for D.E.N will be
business expertise, sales leads, job
search,favors, recognition for favors, making
money, getting validation.
• RESULT: “I get it, we could use that perfectly
in our community.” Some interviewees not
sure of utility. Personal uses? The “priceless
exchange of favors..Cancer Dr. Appointment?”
63. THE CLUB?
• HYPOTHESIS: Social structures that will
influence uptake of D.E.N include alumni and
affinity groups. Creating scarcity will cause
uptake.
• RESULT:Very positive feedback from business school chiefs, alumni
relations…need to overcome nervousness over brand, alumni don’t want
job calls. Are there amazing people in the network? Exchanges of
genuine high value?? More than other places? Why not email?
64. DOING GOOD?
• HYPOTHESIS: Karma matters! Existing
platforms (Linkedin, GLG, Evisorsetc) miss this
& it’s important enough for me to switch.
• RESULT?:
65. CANVAS 1.0
--People have
People who need
Alumni trouble finding
high quality
groups, Networki expert, reliable, ver
information and
ng ified information.
Tap communities services and
groups, (build to Software
already have trouble
suit..potential development, --People spend
transacting finding it.
white label business huge amounts of
sevice) development, time displaying offline or
chaotically Business
expertise with no
builders, salesme
Outsourced tangible benefit
n, anyone who
engineering
has ever looked
teams, --A marketplace to
for a connection
We get paid to match buyers and
once removed
increase bonds sellers
from their closest
between --Simple easy way
circle
members ,make to aggregate
Biz Dev, Cash, Affinity groups --Reduce the
crucial offline postings about
tech development friction to finding
activity more expertise
info, help me get
efficient. Allow --Scoring/ranking
value from what I
monetization of for reliability.
do for others and
expertise. ?
what I know.
MVP engineering/hosting/design costs are
fixed as is some project management.. Free to join and use– then transaction fee,
community management, feature set build listing fee, fee for top tier circles
are variable
66. CANVAS 1.1
--People have
trouble finding People who need
Alumni
expert, reliable, high quality
groups, Networki
verified information and
ng Seeding the high information. services and
groups, (build to level community, Tap communities
already have trouble
suit..potential Software --People spend finding it.
white label development, transacting
huge amounts of
sevice) business offline or
time displaying Business
development, chaotically
expertise with no builders,
Outsourced
tangible benefit salesmen,
engineering
anyone who has
teams,
--A marketplace to ever looked for a
We get paid to
match buyers and connection once
increase bonds
sellers removed from
between --Velvet
--Simple easy way their closest circle
members ,make Goodwill, rope, leaky door
to aggregate --Reduce the
crucial offline Brand, User policy
postings about friction to finding
activity more Propagation --Affinity groups
expertise info, help me get
efficient. Allow
--Scoring/ranking value from what I
monetization of
for reliability. do for others and
expertise.
? what I know.
Scalable marketplace business. MVP
engineering/hosting/design costs are fixed. --Free to join and use– then transaction
Feature set build are variable..buildto spec fee, listing fee, fee for top tier circles
for partners?
68. Scope Narrowing
Narrowed focus to look at the life cycle around
• Home Fertility Monitoring
• Pregnancy Checkups
• Toddler & Infant Monitoring & Unplanned Physician Visits
70. Interviews
SAYING NEW INSIGHTS
• “This would be a huge value.” • Payers have a large problem of combating
• “The wait at the OB/GYN is atrocious. All fraud (e.g. billing unnecessary
of my friends complain about it.” procedures)
• “I wouldn‟t have to get a babysitter!”
• “I had to manually relay the data from my
heart monitor. It was so primitive!”
DOING FEELING / THINKING
• Manually recording test results • Stress
• Retaining hard copies of medical records • Avoidance
and trying to identify trends to discuss with
their doctor
• Mother with 3 kids 25+ doctor visits per
year.
~ 90% of them only involved basic
diagnostic tests (ear, blood, throat culture)
70
71. MONDAY Hypotheses
HYPOTHESIS TEST RESULT
1
• Patients would run
diagnostic tests from home • Interviews • Valid
if given a viable solution
2
• Medical device makers are
willing to use a 3rd party • Interviews • Inconclusive
software platform
3
• Parents with young
children would like to
• Interviews • Valid
reduce their number of
doctor visits
71
72. MONDAY Hypotheses
HYPOTHESIS TEST RESULT
4
• Pregnant women would
like to reduce their number • Interviews • Inconclusive
of doctor visits
5
• People are concerned
about being exposed to • Interviews • Valid
other illnesses at a hospital
6
72
73. DIAGNOSLY
• Convenience of time Get customers: Consumers
• Diagnostic and and place Families (primarily
monitoring device • Partnerships
• R&D • Reduced cost for mothers) in the fertility
OEMs • Online marketing
• Lab-on-chip OEMs • Tech support uninsured or high testing, pregnancy, an
deductible plan Keep + Grow: d early childhood
• Health networks • Partner sales & • Quality service
• Testing labs subscribers phase
support and
• Clinical research
• Customer support • Reduced cost and • user experience Device Makers
companies
• Online health service increased quality of Makers of at-home
providers software monitors and
diagnostic devices
Getting from them: • Lower costs due to
• Hardware to conduct reduced visits, less Payers
diagnostic tests fraud and Insurance, Medicare,
• Access to customers
Payment process
consistent, comprehe • Online (direct) Medicaid
nsive data
• Industry experts • Physicians Providers
Giving them:
• Engineers and • Improved patient • Hospitals General
• A platform outcomes Practitioners, Midwive
• Mobile connectivity designers • Clinics
• Earn more money via s, Nurses
• Data mgmt • IP experts
focus on higher value • Health
• Integration with online • Privacy experts procedures networks
health ecosystem • Lawyers
• People (R&D)
• Tech infrastructure • Testing fees (per test)
• Customer acquisition • Monthly subscriptions (freemium model)
73
74. Future Hypotheses
HYPOTHESIS TEST RESULT
1
• Patients would be willing to
pay the same amount or • Interviews
more for home diagnostics
2
• Small device
manufacturers would be
• Interviews
willing to use 3rd party
software, if it‟s free
3
• Small device companies
will be more willing to • Interviews
partner than larger ones
74
75. Future Hypotheses
HYPOTHESIS TEST RESULT
4
• Bill physician a fee as a %
of insurance / Medicare /
• Interviews
Medicaid payments we
facilitate
5
• Some patients will be
• Interviews
willing to pay out of pocket
6
• General practitioners will
be more receptive than • Interviews
specialists
75
76. Future Hypotheses
HYPOTHESIS TEST RESULT
4
• Payers will be supportive of
software platform to unify • Interviews
data
76
77. Market Size
Young family segment – 30 million
• 51 million children from 0 to 11 years old
• Average 2.1 children per household
• 4 million babies born in the U.S. each year (6 million
pregnancies)
- http://www.childstats.gov/americaschildren/tables.asp
77
78. th
April 17 2012
Ari Scott Alex Sarah Francois Michael
Harkov Greco Morrison Shenton Viargues Burke
79. Version 1 – April 15th 2012
Get: PR, digital
WOM, SEO, SEM, consumer
1. Traveling to urban
1. Itinerary collection & promotions
destination and a
updates For Customers: desire for
1. Access to Keep: great customer
Partners: hotels, local service, expand authentic
2. Marketing / PR authentic, non- experiences
merchants, airlines, onli cities, improve partner
touristy spots 2. Own smart phone
ne booking sites, local offerings
3. Customer service – / tablet (ideal)
sites, rental car 2. Better planned days
locals & travelers Grow: CRM / relationship 3. Age 25-45 / target
companies, internation = easier, maximize marketing, expand offering to 25-35 (?)
al phone data carriers vacation time more cities 4. Professional, $50k
Suppliers: local + income
3. Save time 5. Time-starved
trendsetters, work in
hospitality, younger/cre 4. Clean UX and
ative, bloggers, active Our job:
1. Web developers interactive itineraries 1. Search (SEO/SEM) -making planning
parents take the guidebook
2. Marketing/PR team 2. Social media quicker, easier, pa
3. Local expert to 21st century 3. Travel blogs inless
Get itineraries: $$ for
outreach 4. Travel/local sites -access to off the beaten
sales as well as For Local Experts:
exposure (blog, video) 4. Sales force (low path spots
end, in person) 1. Monetize your local -vacation that meets
knowledge their specific
interests
Fixed costs: upfront development of site and app How: Sell itinerary for $4.99, pay local 20%, keep 80% gross
margin.
Variable costs:
talent/people, marketing/advertising, compensation of Pricing tactics: compete between guidebooks & free
locals, product iterations Promos: 1st free, free if feedback, buy 1 get 1 free, free if FB
post
80. Customer Analysis :
•Bakamba has two core customer segments:
– Tourists & Hotel Concierge
– Content Providers (Locals)
Testing Methodology:
• Customer Segment 1: Tourists
– Interviewed 20 groups of NYC tourists including
couples, families, singles, international, and domestic tourists
• Customer Segment 2: Content Providers
– Received responses from potential local contributors via CraigsList and our
own personal networks.
81. Hypothesis Result
Tourists desire more Looking good. With only a
authentic experiences few exceptions, we learned
while traveling. that this seems to be true.
Inconclusive. While some
Tourists will find value in
tourists expressed a high
our one-day itineraries &
WTP (>$50), others wanted
are willing to pay.
it to be free.
Validated. We have
Locals will find it appealing
received over 45
to contribute content to
contributions from locals
Bakamba.
already.
82. Other Feedback & Insights from TouristInterviews :
– Flexibility – People seemed to want more flexibility in itinerary length, as well
as more alternate options for meals and activities
– Greater Customization – Tourists seemed to want to see a greater number of
filters to help them sort itineraries.
– Cost- We observed two distinctly different groupings of willingness to pay
(Free-$1.99 / $20-$100)
– Additional Benefit Requested - Discounts on activities; better directions to
destination
– Logistical Challenges - Foreign users will often not have internet access on
their phones, and many were concerned about the accuracy of our
information
– Other Concerns – Many wanted to know more about who the locals writing
the itineraries were.
83. Version 2 – EOD April 16th 2012
Get: PR, digital
1. Itinerary collection & WOM, SEO, SEM, consume
Bakamba helps tourists r promotions
updates have richer, more
authentic travel Tourists – Content
Partners: hotels, local Keep/ Grow: great customer
2. Marketing / PR experiences by tapping Purchasers
merchants, airlines, onli service, expand
ne booking sites, local into the knowledge of cities, improve partner
3. Customer service – locals offerings
sites, rental car Revenue sharing & Locals - Content
locals & travelers Save time planning
companies, internation relationship marketing Providers
al phone data carriers See the “Real” City
Filter based on interests
Suppliers: local Everything in one place Mass Distributors –
trendsetters, work in Content Purchasers (Ex:
hospitality, younger/cre Hotel Concierge)
ative, bloggers, active Unique platform for locals • Search (SEO/SEM)
parents 1. Web developers experts to share and • Social media
2. Marketing/PR team monetize their local • Travel blogs / sites
Get itineraries: $$ for 3. Local expert knowledge
sales as well as outreach • Craigslist
exposure (blog, video) 4. Sales force (low • Social media
end, in person) • Local blogs
Fixed costs: upfront development of site and app How: Sell itinerary for $4.99, pay local 20%, keep 80% gross
margin.
Variable costs:
talent/people, marketing/advertising, compensation of Pricing tactics: compete between guidebooks & free
locals, product iterations Promos: 1st free, free if feedback, buy 1 get 1 free, free if FB
post
84. Next Steps
– Continue evaluating the willingness to pay of Customer Segment 1
(Tourists)
– Begin evaluating value proposition for mass distributor channels
– Challenge price point by requesting actual payment & offering
different pricing structures
86. Customer Segments Interviewed
Company Sample - 50,000+ employees
Employees (15+) HR Manager (3)
- Feel Disconnected from - Believe that employee surveys
the firm provide enough data
- Feel like employers don't - Feel like there is enough
care information make decisions
- Data does not reflect the - Believe Management
wishes of the employees Accountability is a major
- Lack of Feedback concern
- Have better things to do - Believe that empowering
managers for one-to-one
conversations is more
efficient
