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Day 4 presentations columbia apr 2012

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Stanford University
Stanford University
EducationBusinessTechnology
1 of 138
Columbia B7739-002 Steve Blank Bob Dorf Advanced Entrepreneurship April 19, 2012
Welcome to Day 4! Order of Presentations 1. Kadak (Tea Lab) 2. Pulze 3. Digital Exchange Network 4. TVM Technologies 5. Jiae 6. Table Compass (FidelEat) 7. Diagnosly 8. Social Crowd 9. Mobile Marketing 10. YSN 11. Bakamba 12. Factabase 13. eFood 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 ● We have our reception 5-6pm today (Thursday) please wear your name tags. This will be a good opportunity to meet your fellow classmates and the professors over a drink Each team will have 5 minutes to present and 3 minutes for Q&A
Adeem Fenster Shashi Shrimali Stella Chan Sanjay Bharadwaj Richard James Neeraj Lal Total Interviews: (10 in person, 179 cumulative total) Authentic Asia Tea T4U
How will we Get, Keep and Grow Customers? • Unique, customized tea, their way • Consistent quality • Increase product variety • TEA I.D. • word-of-mouth from students (campuses) • Tea tasting event to collect customer feedback (via iPad) Tea Lab – 04/18/2012 Who are our most important customers? • repeat customers • health conscious customers • Customers looking for a fun new experience What are their archetypes? • The rising teen • Healthy parents • Undergrads What Job do they want us to get done for them? • Custom tea their way! • Fun/unique ingredients • make the tea (incl. picking the best ingredients) • education of tea • cool place to hang out What Key Activities do we require? • Purchasing raw material • Brewing tea • Setting up retail outlets • Advertising, & marketing • Setting up customer feedback channel and analysis • Business development with campuses • Product mix creation • FP&A management • Hiring Which of our customer’s problems are we helping to solve? • consumer don’t have access to quality tea outside the home • Formula/proportions are off Which customer needs are we satisfying? • Tea the “way I like it” outside the home • Tea w/out tea bags • Cool experience / social setting for tea What are the Key Features of our product that match customers problem/need? • Taste of our tea (quality) • The availability of tailored flavor • Speed of delivery • Convenience • Experience Who are our Key Partners? • Indian stores and Asian stores • Eventually tea makers • Indirect distribution through -- subway, panda express Who are our key suppliers? • Indian store from NJ • Chinese stores from Chinatown • Grocery stores such as Wal-mart • Restaurant utensils/hardware suppliers What are we getting from them? Giving them? • Milk, sugar, Splenda, tea leaves, cups, spices, pots/pans • MONEY, more revenue What are the most important costs inherent in our business model? Fixed • Rent • Equipment, furniture and fixtures Variable • Raw materials & supplies • Employee salaries How do we make money? What’s the revenue model? Pricing tactics? • Online sales for home consumption • Data – based on the TEA ID card! • Keep the price close to Starbucks thereafter • Never price below breakeven even during promotion period • Find ways to give them discounts (survey --- buzz discounts) Through which Channels do our Customer Segments want to be reached? • Tea lab stores • direct-to-home delivery • Online What Key Resources we require? • Money • Retail outlets • POS system to track sales • SAP system for accounting • License from NY / Campus approval • HR for hiring & training • Tea brewing equipment
How will we Get, Keep and Grow Customers? • Unique, customized tea, their way • Consistent quality • Increase product variety • TEA I.D. • word-of-mouth from students (campuses) • Tea tasting event to collect customer feedback (via iPad) Tea Lab – 04/19/2012 Who are our most important customers?  repeat customers  health conscious customers  Customers looking for a fun new experience What are their archetypes?  The rising teen  Healthy parents  Undergrads What Job do they want us to get done for them?  Custom tea their way!  Fun/unique ingredients  make the tea (incl. picking the best ingredients)  education of tea  cool place to hang out What Key Activities do we require?  Purchasing raw material  BRAND – Tea Lab  Brewing tea  Setting up retail outlets  Advertising, & marketing  Setting up customer feedback channel and analysis • Business development with campuses • Product mix creation • FP&A management • Hiring Which of our customer’s problems are we helping to solve?  consumer don’t have access to quality tea outside the home  Formula/proportions are off Which customer needs are we satisfying?  Tea the “way I like it” outside the home  Tea w/out tea bags  Cool experience / social setting for tea What are the Key Features of our product that match customers problem/need?  Taste of our tea (quality)  The availability of tailored flavor  Speed of delivery  Convenience  Experience Who are our Key Partners? • Indian stores and Asian stores • Eventually tea makers • Indirect distribution through – franchises in airports, hotels? subway, panda express Who are our key suppliers? • Indian store from NJ • Chinese stores from Chinatown • Grocery stores such as Wal-mart  Tea merchants  Kiosk manufacturers  Restaurant utensils/hardware suppliers What are we getting from them? Giving them?  Milk, sugar, Splenda, tea leaves, cups, spices  MONEY, more revenue What are the most important costs inherent in our business model? Fixed  Rent  Equipment, furniture and fixtures Variable  Raw materials & supplies  Employee salaries How do we make money? What’s the revenue model? Pricing tactics? • Online sales for home consumption • Data – based on the TEA ID card! • Keep the price close to Starbucks thereafter • Never price below breakeven even during promotion period • Find ways to give them discounts (survey --- buzz discounts) Through which Channels do our Customer Segments want to be reached? • Tea lab stores • direct-to-home delivery • Online What Key Resources we require? • Money • Retail outlets • POS system to track sales • SAP system for accounting • License from NY / Campus approval • HR for hiring & training • Tea brewing equipment Tea lab kiosks
Takeawa ysTea café • High-end tea café in NY city => set for failure •Key costs: Rent, Utility, Salary, and ingredients… •Market for both hot and cold tea • Flagship store => for branding • Way to make money => go outside New York City • Sell your products via partners • No brand => no partnering with restaurant Kiosks •Low fixed costs/rent • High foot traffic •Customized Kiosks available at $20K- $40K • High visibility => low marketing costs
Entry Exit Cups Indian Tea Chinese Tea English Tea Herbs & Spices Sweeteners Pick a cup Pick a tea Pick a herb Pick a sweetener Boil your tea Pay money Enjoy your tea and come back Store your TeaId MVP
Business Hypothesis Hypothesis Tests Results Retail cafe channel is profitable. Breakeven Analysis Retail kiosks channel is profitable. Breakeven Analysis √
Breakeven Analysis Manhattan Store "Middle America" Store "Middle America" Kiosk Contribution margin per cup Sales $4.00 $3.00 $3.00 Direct costs $0.28 $0.28 $0.28 $3.72 $2.72 $2.72 Fixed Costs Per Month $60,100.00 $34,500.00 $11,500.00 BEP (CUPS PER MONTH) 16,153.94 12,681.70 4,227.23 BEP (CUPS PER DAY) 538.46 422.72 140.91 Solution => Go for Kiosks
Marketing “Tea Pots” in the mall (i.e. bud light girls) •Facebook Group •Tea samples •Location (high traffic zones, near an apple store) •Flash mob
Plan for today • Interview customers Test our Kiosks ideas with the customers • Interview Shopping Mall property managers Test our Kiosks ideas with key partners
How will we Get, Keep and Grow Customers? • Consistent quality • Increase product variety • loyalty program tea card • word-of-mouth from students (campuses) • Tea cart promotion via Facebook or Tweeter • Tea tasting event to collect customer feedback (via iPad) Kadak – 04/16/2012 Who are our most important customers? • repeat customers, Asian- immigrants consumers • health conscious customers What are their archetypes? • The Indian • The rising teen • Healthy parents • Undergrads • Baby-boomers What Job do they want us to get done for them? • make the tea (incl. picking the best ingredients) • education of tea What Key Activities do we require? • Purchasing raw material • Brewing tea • Setting up retail outlets • Advertising, & marketing • Setting up customer feedback channel and analysis • Business development with campuses • Product mix creation • FP&A management • Hiring Which of our customer’s problems are we helping to solve? • consumer have limited access to authentic Asian tea in a retail format Which customer needs are we satisfying? • Desire to consume authentic Asian tea outside home What are the Key Features of our product that match customers problem/need? • taste of our tea (quality) • the availability of tailored flavor • speed of delivery • convenience Who are our Key Partners? • Indian stores and Asian stores • Eventually tea makers • Indirect distribution through -- subway, panda express Who are our key suppliers? • Indian store from NJ • Chinese stores from Chinatown • Grocery stores such as Wal-mart • Restaurant utensils/hardware suppliers What are we getting from them? Giving them? • Milk, sugar, Splenda, tea leaves, cups, spices, pots/pans • MONEY, more revenue What are the most important costs inherent in our business model? Fixed • Rent • Equipment, furniture and fixtures Variable • Raw materials & supplies • Employee salaries How do we make money? What’s the revenue model? Pricing tactics? • Low Intro promotion price to attract customers($1.99) • Keep the price close to Starbucks thereafter • Never price below breakeven even during promotion period • Find ways to give them discounts (survey --- buzz discounts) Through which Channels do our Customer Segments want to be reached? • direct retail • direct-to-home delivery What Key Resources we require? • Money • Retail outlets • POS system to track sales • SAP system for accounting • License from NY / Campus approval • HR for hiring & training • Tea brewing equipment
How will we Get, Keep and Grow Customers? • Consistent quality • Increase product variety • loyalty program tea card • word-of-mouth from students (campuses) • Tea cart promotion via Facebook or Tweeter • Tea tasting event to collect customer feedback (via iPad) Kadak – 04/17/2012 (morning) Who are our most important customers?  repeat customers, Asian-immigrants consumers • health conscious customers What are their archetypes? •  The Indian • The rising teen • Healthy parents •  Undergrads •  Baby-boomers What Job do they want us to get done for them? •  make the tea (incl. picking the best ingredients) •  education of tea What Key Activities do we require? • Purchasing raw material • Brewing tea • Setting up retail outlets • Advertising, & marketing • Setting up customer feedback channel and analysis • Business development with campuses • Product mix creation • FP&A management • Hiring Which of our customer’s problems are we helping to solve? • consumer have limited access to authentic Asian tea in a retail format Which customer needs are we satisfying? • X Desire to consume authentic Asian tea outside home What are the Key Features of our product that match customers problem/need? •  taste of our tea (quality) •  the availability of tailored flavor • speed of delivery • convenience Who are our Key Partners? • Indian stores and Asian stores • Eventually tea makers • Indirect distribution through -- subway, panda express Who are our key suppliers? • Indian store from NJ • Chinese stores from Chinatown • Grocery stores such as Wal-mart • Restaurant utensils/hardware suppliers What are we getting from them? Giving them? • Milk, sugar, Splenda, tea leaves, cups, spices, pots/pans • MONEY, more revenue What are the most important costs inherent in our business model? Fixed • Rent • Equipment, furniture and fixtures Variable • Raw materials & supplies • Employee salaries How do we make money? What’s the revenue model? Pricing tactics? • Low Intro promotion price to attract customers($1.99) • Keep the price close to Starbucks thereafter • Never price below breakeven even during promotion period • Find ways to give them discounts (survey --- buzz discounts) Through which Channels do our Customer Segments want to be reached?  direct retail/franchise model • direct-to-home delivery What Key Resources we require? • Money • Retail outlets • POS system to track sales • SAP system for accounting • License from NY / Campus approval • HR for hiring & training • Tea brewing equipment
How will we Get, Keep and Grow Customers? • Unique, customized tea, their way • Consistent quality • Increase product variety • loyalty program TEA I.D. • word-of-mouth from students (campuses) • Tea tasting event to collect customer feedback (via iPad) Tea Lab – 04/17/2012 (afternoon) Who are our most important customers? • repeat customers • health conscious customers • Customers looking for a fun new experience What are their archetypes? • The Indian • The rising teen • Healthy parents • Undergrads • Baby-boomers What Job do they want us to get done for them? • Custom tea their way! • Fun/unique ingredients • make the tea (incl. picking the best ingredients) • education of tea • cool place to hang out What Key Activities do we require? • Purchasing raw material • Brewing tea • Setting up retail outlets • Advertising, & marketing • Setting up customer feedback channel and analysis • Business development with campuses • Product mix creation • FP&A management • Hiring Which of our customer’s problems are we helping to solve? • consumer don’t have access to quality tea outside the home • Formula/proportions are off Which customer needs are we satisfying? • Tea the “way I like it” outside the home • Tea w/out tea bags • Cool experience / social setting for tea What are the Key Features of our product that match customers problem/need? • taste of our tea (quality) • the availability of tailored flavor • speed of delivery • Convenience • Experience Who are our Key Partners? • Indian stores and Asian stores • Eventually tea makers • Indirect distribution through -- subway, panda express Who are our key suppliers? • Indian store from NJ • Chinese stores from Chinatown • Grocery stores such as Wal-mart • Restaurant utensils/hardware suppliers What are we getting from them? Giving them? • Milk, sugar, Splenda, tea leaves, cups, spices, pots/pans • MONEY, more revenue What are the most important costs inherent in our business model? Fixed • Rent • Equipment, furniture and fixtures Variable • Raw materials & supplies • Employee salaries How do we make money? What’s the revenue model? Pricing tactics? • Online sales for home consumption • Data – based on the TEA ID card! • Keep the price close to Starbucks thereafter • Never price below breakeven even during promotion period • Find ways to give them discounts (survey --- buzz discounts) Through which Channels do our Customer Segments want to be reached? • Teal lab stores • direct-to-home delivery • Online What Key Resources we require? • Money • Retail outlets • POS system to track sales • SAP system for accounting • License from NY / Campus approval • HR for hiring & training • Tea brewing equipment
PULZE Your Organization’s PULZE Vladimir Baranov, Jitender Chopra, Riyaz Habibbhai, F. Lane Harwell, Daniello Natoli Interviews: 11 April 19th, 2012 PULZE ORGANIZE, ANALYZE, AND COMMUNICATE
PULZE Hypotheses and Initiatives Hypothesis  HR consultants are a potential sales channel Initiatives  Pricing Initiatives  24 / 7: Design pre-survey, Analyze post-survey
PULZE Hypotheses: HR Consultants are a Potential Channel Findings Competitors Exception  HR Consulting firms have in house technology departments  They see survey software as a way to sell consulting services  Would not partner – see Pulze as competition  Kenexa: (KNXA) Mkt. Cap.: $860MM  Taleo: purchased by ORCL for $1.9B, 2/9/12  Hewitt (HEW); MMC (Mercer)  SAP: purchased SuccessFactors (SFSF) for $3.4B  Possibly Leadership Consultants, given focus
PULZE Initiatives: Pricing and Update Value Prop Pricing Value Prop Additional Segment?  HR Consulting firms charge $5K - $15K for a survey targetting 300 – 500 users  SurveyMonkey works for random surveys – not good for employee engagement  Customers WTP between $1000 - $5000 per annum  Customers love the idea of DIY survey software with extensive templates  Anonymity and Detailed Data Analysis is Key  Would prefer value added service to call HR specialists for pre-survey setup and post-survey analysis  25 – 100 Employee company with the same needs as above Additional Channel?  Enterprise Social platforms Jive, Yammer
PULZE Survey Monkey $500 per year $ per Survey/Analysis Price and Value Position PULZE $500 - $3,500 HR Consultancies ~$5,000 - $15, 000 (per survey) PERCEIVEDVALUE Raw Data / Little Analysis “DIY” Data and Analysis Benchmarking Templates with response validation Customization Access to Domain Specific Solutions Legal and Regulatory Checks ORGANIZE, ANALYZE, AND COMMUNICATE “Hand Holding” Data and Analysis Benchmarking Templates Customization Access to Domain Specific Solutions Legal and Regulatory Checks
PULZE
PULZE Team Pulze 500 < Enterprises < 2000 Bottom-Up employee engagement Software vendors One time service fee Sales force Key Account management Provide employees ownership in business strategy Low cost solution to interim surveys Middle Management of larger corporations Semi customized service based on needs Subscription service Enterprise social platforms Partners Cloud service Data warehousing Suppliers 3rd party analytics R&D Marketing and Manage the platform Lead gen Recruitment Software developers HR talent Research experts Payroll marketing Fixed Sales Customer acq. Talent acq. Variable Website
PULZE Team Pulze Manager of a company, division or unit with 100- 3000 employees, w/minimal HR support Bottom-Up employee engagement Software vendors One time service fee Key Account management Provide employees ownership in business strategy Low cost solution to interim surveys SEO Subscription service Enterprise social platforms Partners Cloud service Data warehousing Suppliers 3rd party analytics R&D Marketing and Manage the platform Software developers HR talent Research experts Payroll marketing Fixed Sales Customer acq. Talent acq. Variable Website HR Consultants Analysis Benchmarked Data Templates Semi- customization Sales force Gamification – to increase particip Recruitment Lead gen >Survey Monkey < Consultants Fee to HR US Legal Legal Counsel
PULZE Team Pulze Manager of a company, division or unit with 100- 3000 employees, w/minimal HR support Bottom-Up employee engagement Software vendors Number of Employees $500 < N < $5K Key Account management Provide employees ownership in business strategy Low cost solution to employee surveys SEO Subscription service $1 – 5K Enterprise social platforms Partners Cloud service Data warehousing Suppliers 3rd party analytics R&D Marketing and Manage the platform Software developers HR talent Research experts Payroll marketing Fixed Sales Customer acq. Talent acq. Variable Website HR Consultants Templates Analysis Benchmarked Data Gamification Ethical and Legal Customization Legal Counsel Fee to HR 24/7 Value Added Consultants for Pre/Post Survey Linked-In Social Media
PULZE Appendix
PULZE Market Size Business Units 100-499 90,386 500-749 6,060 750-999 3,038 1000-1499 3,044 1500-1999 1,533 2000-2499 904 2500+ 46,525 TAM 151,490 TAM: 151,490 SAM: 136,384 TM: 34,085 Source: US Census,2008 SAM estimate was derived by using broadband business usage ratio. OECD
DEN: DIGITAL EXCHANGE NETWORK The platform for exchanging high value favors and services. 22 INTERVIEWS WEDNESDAY 65 TOTAL OVER 3 DAYS Dave Spezzano, Alexey Okhlopkov, Amy Villari, Steve Alperin, Dmitri Dyakin
what we learned yesterday hypothesis PEOPLE ARE WILLING TO PAY CASH FOR FAVORS PEOPLE ARE WILLING TO ACCEPT CASH FOR FAVORS PEOPLE ARE WILLING TO TRADE FAVORS PEOPLE WANT TO USE ANOTHER EXCHANGE CURRENCY THERE IS A VALUE / BENEFIT TO THE FAVOR DOER result MAYBE MAYBE MAYBE MAYBE CORRECT comments High-value & WTP, maybe not cash Behavior change Compliance issues Low expectation of quid pro quo Tested philanthropy as exchange currency Need to test further
more learning hypothesis PEOPLE RECEIVE/PERFORM FAVORS FOR DIRECT NETWORK CONTACTS DITTO FOR SECOND-DEGREE CONTACTS WE CAN SCALE A NETWORK WITHOUT LOSING TRUST WTP TO JOIN ONLINE NETWORK TO ACCESS VALUABLE CONTACTS NEED/MARKET FOR FAVOR NETWORK IN RUSSIA, CHINA result CORRECT CORRECT MAYBE CORRECT CORRECT comments OFTEN Most see this is where the REAL benefit is Piggybacking existing networks like Linkedin Obvious Huge market potential in China, but may need proof of concept first
Key Learning: WHY WOULD SOMEONE USE THIS SYSTEM TO DO FAVORS? • reduce time spent doing favors • prioritize response order and time to favor requesters / receivers • INCREASE LIKELIHOOD OF PAYBACK • Second-degree connections more than first- degree contacts Key Learning: who pays for favors
CANVAS 1.1 People who need high quality information and services and have trouble finding it. Business builders, salesmen, anyone who has ever looked for a connection once removed from their closest circle --Reduce the friction to finding info, help me get value from what I do for others and what I know. Seeding the high level community, Software development, business development, --People have trouble finding expert, reliable, verified information. --People spend huge amounts of time displaying expertise with no tangible benefit --A marketplace to match buyers and sellers --Simple easy way to aggregate postings about expertise --Scoring/ranking for reliability. ? Alumni groups, Networking groups, (build to suit..potential white label sevice) Outsourced engineering teams, We get paid to increase bonds between members ,make crucial offline activity more efficient. Allow monetization of expertise. Scalable marketplace business. MVP engineering/hosting/design costs are fixed. Feature set build are variable..build to spec for partners? --Free to join and use– then transaction fee, listing fee, fee for top tier circles --Velvet rope, leaky door policy --Affinity groups Goodwill, Brand, User Propagation Tap communities already transacting offline or chaotically
CANVAS 1.2 CHANGES IN RED --PEOPLE WHO NEED ACCESS & FAVORS FOR BUSINESS OR PERSONAL USE --PEOPLE WHO PROMOTE THEIR BUSINESS THROUGH CONTENT --PEOPLE WHO WANT TO STENGTHEN TIES WITH CONNECTIONS Seeding the high level community, Software development, business development, -- HELP PEOPLE EXCHANGE ACCESS & FAVORS THAT ARE IMPORTANT. --Help people get more benefit from their digital marketing content --A marketplace to match buyers and sellers --HELP PEOPLE BUILD TRUSTED CONNECTIONS ? Alumni groups, Networking groups, (build to suit..potential white label sevice) Outsourced engineering teams, We get paid to increase bonds between members ,make crucial offline activity more efficient. Allow monetization of expertise. Scalable marketplace business. MVP engineering/hosting/design costs are fixed. Feature set build are variable..build to spec for partners? --POINT SYSTEM TO EXCHANGE VALUE & GOODWILL --Free to join and use– then transaction fee, listing fee, fee for top tier circles --Velvet rope, leaky door policy --Affinity groups --Goodwill, --HIGH LEVEL ACCESS Tap communities already transacting offline or chaotically
CANVAS 1.3 CHANGES IN RED --PEOPLE WHO NEED AND PROVIDE ACCESS & FAVORS FOR BUSINESS OR PERSONAL USE --PEOPLE WHO PROMOTE THEIR BUSINESS THROUGH CONTENT --PEOPLE WHO WANT TO STENGTHEN TIES WITH CONNECTIONS Seeding the high level community, Software development, business development, - --IMPROVED WAY TO BUILD TRUST & VERIFICATION --DISCOVERY & VALIDATION OF 2nd DEGREE CONNECTIONS --SAFE ENVIROMENT FOR PERSONAL EXCHANGE --HELP PEOPLE EXCHANGE ACCESS & FAVORS THAT ARE IMPORTANT. ? Alumni groups, Networking groups, (build to suit..potential white label sevice) Outsourced engineering teams, We get paid to increase bonds between members ,make crucial offline activity more efficient. Allow monetization of expertise. --LINKEDIN, FACEBOOK, OTHER NETWORKS (UNLESS WE SCALE OURSELVES) Scalable marketplace business. MVP engineering/hosting/design costs are fixed. Feature set build are variable..build to spec for partners? --TIP JAR / PAY-WHAT-YOU-WANT --FEE FOR GIFTING AS THANK YOU --POINT SYSTEM TO EXCHANGE GOODWILL FOR $$ --PREMIUM ADVERTISING (MAYBE – HARD MODEL) --transaction fee, listing fee, fee for top tier circles --Velvet rope, leaky door policy --Affinity groups --Goodwill, --HIGH LEVEL ACCESS --WELL CONNECTED PEOPLE Tap communities already transacting offline or chaotically
WE NARROWED OUR ARCHETYPE
WHAT’S A FAVOR?….. • High value • Would require the receiver to go through extraneous effort to achieve without the doer • Allows access to otherwise inaccessible areas of life …..but how do we differentiate ourselves……? ELEGANT WAY TO SCORE AND RANK TRUST
ECOSYSTEM Favor Provider Direct Link Favor user1. Favor Provider Favor user Direct Link Favor Provider Favor user 2 3 Favor request
Today LAY A PRODUCT OVER OUR CUSTOMER NEEDS & ECOSYSTEM MORE DATA ON REVISED VALUE PROPISTIONS TEST POTENTIAL REVENUE MODELS
Advanced Entrepreneurship Day 4 April 19, 2012 Team Brian Vogt Doug Carlson Mohamed Maimouni AG Crum Gabriel Giles Sameer Kotak 6 additional interviews Total interviewed: 42 end-users 3 brand managers 1 channel expert 1 shoe manufacturer 1 shoe startup founder 1 dermatologist X online survey responses Technology for medical and comfort problems of the feet
Problem is recognized; they have a workaround Interviews Hypothesis Experiment Results Pending People may have discomfort but won’t admit it Interviews Unclear. Additional experiments required (survey). Appealing product for tech lovers Interviews Confirmed. Eyes lit up. What Have We Learned?
Channel Analysis Channel Strategy License technology • License the technology to shoe brands to do all manufacturing themselves Unbranded component sales • Sell prebuilt soles with embedded components to shoe brands for assembly Branded component sales • Sell branded prebuilt soles with embedded components. Think “Vibram” soles in boots. Own brand of complete shoes • Create own brand, sell through online retailers
Channel Analysis Switching Costs Recurring Revenue Earn Before You Pay Game Changing Cost Structure Others Do The Work Scaleability Protection License technology ✔ ✔ ✔ Unbranded component sales ✔ Branded component sales ✔ Own brand of complete shoes ✔
Channel Analysis Channel Strategy Conclusions X License technology • Major brands unwilling to work with technology directly X Unbranded component sales • Unit economics don’t work X Branded component sales • Unit economics don’t work ✔ Own brand sold through online retailers • Economically viable
Channel Analysis Growth Strategy Phase 1 – Create brand for the Active Seekers segment • Sell through medical supply companies • Value price to capture higher Willingness To Pay • Get commitments and funding on Kickstart from severe sufferers • Use this to work out manufacturing and operational kinks Phase 2 – Launch consumer branded shoe for General Comfort segment • Sell initially through Zappos • Leverage their logistics capabilities Phase 3 – Expand in the General Comfort segment • Other online retailers • Airport kiosks • Retail locations • Possible branded component sales Phase 4 – Expand to the Tech Lovers segment • Sell online • Sell through Sharper Image, Brookstone, etc.
Day 3 Canvas Active Seekers (1) Sought med Activities? Customer input, IP filings, beta development, , suppliers Partners? Shoe mfg, manufacturing Inherent in our model? Variable material, mfg overhead Making money & pricing model? $40 mfg’ed, 80 soles, 200 shoes, 400 retail 400 retail 250 retail Resources? Development partner, seed funding TVM Tech Get, keep, grow? End-users: PR, branded captivity Partners: Convince of unique value for end-users Passive Sufferers (2) UnSought med Tech Lovers 3) Tech ‘comfort’ •Mitigate hyperhidrosis •Low effort solution •Foot comfort •Discreteness •Cool factor •Foot comfort •Medical catalogs •Referrals ? Established partner retail outlets Suppliers? Component mfg.'s, Ventiva Getting? Technology, manufacturing Giving? Differentiation and price
Day 4 Canvas Active Seekers (1) Sought med Activities? Customer input, IP filings, beta development, , suppliers Partners? Shoe mfg, manufacturing Inherent in our model? Product development, variable costs, online retail, kiosks, SG&A Making money & pricing model? $40 mfg’ed, 80 soles, 200 shoes, 400 retail 400 retail $250 retail Resources? Development partner, seed funding TVM Tech Get, keep, grow? End-users: PR, branded captivity Partners: Convince of unique value for end-users General Comfort (2) UnSought med Tech Lovers 3) Tech ‘comfort’ •Mitigate hyperhidrosis •Low effort solution •Foot comfort •Discreteness •Cool factor •Foot comfort •Medical catalogs •Referrals Online Retail, Kiosks Established partner retail outlets Suppliers? Component mfg.'s, Ventiva Getting? Technology, manufacturing Giving? Differentiation and price
Jiae.com: Interest based platform for creative minds in China Team: Deymon Chen, Yu Guo(Hugh), Mathias Rosenthal, James Hagen 23 Interviews + ??? Surveys 2012.04.18 - Day 4 Do we have MVP website ??? Online When ???
Jiae.com: Interest based platform for creative minds in China Team: Deymon Chen, Yu Guo(Hugh), Mathias Rosenthal, James Hagen 23 Interviews + 410 Surveys 2012.04.18 - Day 4 Do we have MVP website Yes!!! Online When Few Hours Before!!!
MVP http://www.wix.com/matros9/jiae
Survey 1: Top Designer Social Site China Top SNS site less than 15% Top Design site (web 1.0) less than 33% Proved: No Leader in Designer Social site, We have a Chance! weibo.com zcool.com douban.com chinavisual.com Tumblr clone ($10M funding) less than 5%diandian.com other sites Other Design sites less than 9% blueideas.com visualunion.com abbs.com.cn.com
Survey 2: Top Features for Designer Social Site Top 2: Rich/Fresh Content 44% Proved Imaged Based 1-Click Reblog Rich and Fresh Content Tailored Content Original Content Design Content Jobs and Projects Portfolio Showcase Meet Designers Tips and Resources Others Top 3: Image Based 39.4% - Proved Top 1: Expert Feedback 47% - Proved Looking for Jobs and Projects is low, Surpris Reblog only 9.1% - Surprised
Business Hypothesis
Ecosystem
•Photo based nice and clean SNS platform •More Traffic •Easy to Share •Statistics Tool •Platform Management •Customer Acquisition •Expanding Reach •Platform •Customer Base •Brand Platform Costs Customer Acquisition Costs Marketing and Sales Costs Advertising, Sponsorships, Deign Services Click Per Sales , Design Marketplace •1:1 Customer Support •China Photo Related sites •China SNS Sites - weibo, renren, qq, douban •Fashion Bloggers •Find, organized and share inspiration Ideas effectively •Find jobs/projects •Showcase portfolios for feedback， big Space •Target Ad Space •Find Good Designers •Promotion Opportunity •Sales Channels •Design Marketplaces •Designers Companies • Advertising • Sponsorship • Design Services • Click Per Sales •D-School Ambassador •1300 Design Schools •Design Message Boards •Jiae.com Freemium Free Interest Based SNS Platform Day 3 Business Canvas for Jiae •End Users Consumers •Fashion Medias •Design School •Government •Design Associations •Traffic Partners •Online B2C Partners
•Image based nice and clean SNS platform •More Traffic •Easy to Share •Statistics Tool •Platform Management •Customer Acquisition •Expanding Reach •Platform •Customer Base •Brand Platform Costs Customer Acquisition Costs Marketing and Sales Costs Advertising, Sponsorships, Deign Services Click Per Sales , Design Marketplace •1:1 Customer Support •China Photo Related sites •China SNS Sites - zcool, weibo, renren, qq, douban •Fashion Bloggers •Find, organized and share inspiration Ideas effectively Rich/Fresh Content •Find jobs/projects Image Based Content •Showcase portfolios for Expert Feedback big Space •Target Ad Space •Find Good Designers •Promotion Opportunity •Sales Channels •Design Marketplaces •Designers Companies • Advertising • Sponsorship • Design Services • Click Per Sales •D-School Ambassador •1300 Design Schools •Design Message Boards •Jiae.com Freemium Free Interest Based SNS Platform Day 4 Business Canvas for Jiae •End Users Consumers •Fashion Medias •Design School •Government •Design Associations •Traffic Partners •Online B2C Partners
FidélEatRestaurant Reservation Loyalty 3 Restaurateur Interviews 20 Consumer Interviews 23 Total Robert Montrone EMBA ’12 Consultant / TV Producer ABC Television Jaidev Rao EMBA ’12 Management Consulting Rothstein Kass Abhishek Sheetal EMBA ’12 Tech Marketing / Strategy LeCroy Corporation William Cooke EMBA ’12 Strategy & Financial Planning Blue Sky Solar Sarah Brown EMBA ’12 Consulting Neuberger Berman Dennis Kwon MBA ’11 Engineer / Tech Entrepreneurship Lala.com
Table Compass Archetypes? People who plan Price conscious Foodies Key Activities • Platform design and development • Business development, partnerships and marketing • Difficulty making reservations • Price • End Customers: Discounted bookings, secured reservations, restaurant comparisons • Discounted pricing • Restaurant discovery Key Partners Restaurant owners Key Suppliers Possibly Open Table What are we getting from them? Reservation Service Giving them? Restaurant traffic What are the most important costs inherent in our business model? Fixed Cost: Building the website Variable: Marketing, sales people, advertising Listing fees, percentage of restaurant fee, restaurant flat fee, first year free, etc. Through which Channels do our Customer Segments want to be reached? • Restaurants: face to face meetings • End Customers: Word of mouth marketing, online, direct email Key Resources • Designers, Engineers • Business development, Sales • Money How will we Get, Keep and Grow Customers? Retention plan: points system, Groupon, promotional item, value add free meal, etc. (Pass, Fail, Unclear) • Medium-low end restaurants • Medium-high end restaurants that take reservations . Revenue Management . Working capital . Filling Seats Day Before
Hypothesis Restaurants have empty seats Restaurants will give out discounts Working Capital is an issue Test Survey 4 managers Survey 4 managers Survey 4 Managers Results High end restaurants do not have empty seats N/A N/A High End Restaurant Interviews ($100+plate)
Hypothesis Restaurants have empty seats Restaurants will give out discounts Working Capital is an issue Test Survey 9 managers Survey 9 managers Survey 9 Managers Results Very concerned about empty seats Discount customers visit only once to take advantage of the offer Yes restaurants are very concerned about WIP. Unhappy with Opentable Mid Range Restaurant Interviews ($40+ plate)
Hypothesis People are willing to prepay for discount an advanced reservation The prepayment advance booking discount does not lower the value of the restaurant 30% discount will make people shift their decisions around – time/day Test Survey 52 people Survey 52 people Survey 52 people Results 75% are willing 17% indicated it would * 8% for under 35 yrs * 26% for over 35 yrs 75% said yes Diner Interviews
Hypothesis Finding loyal customers is a problem for restaurants Restaurant owners want to build a relationship / know more about their customers (data) Restaurant owners willing to offer an expiring credit to loyal customers Test Survey 21 restaurants Survey 21 restaurants Survey 21 restaurants Results Place high value on returning customers Looking for a system to sync data with reservations Restaurants unhappy with “discount” customers Willing to offer promotions to returning customers Restaurant Interviews (mid-high end)
Hypothesis Users would go back to the same restaurant for an expiring 20-30% loyalty discount Users eat out 2-3 times per week Users would not mind that their credit expires Test Survey 20 People Survey 20 People Survey 20 People Results 100% are willing 100% 60% would prefer to have more time to use the credit Diner Interviews
Pivot Declaration Pit of Despair
Table Compass Younger Trendy Key Activities • Platform design and development • Business development, partnerships and marketing • Price • Discounted bookings, secured reservations, restaurant comparisons • Discounted pricing • Restaurant discovery Key Partners Restaurant owners Key Suppliers Possibly Open Table What are we getting from them? Reservation Service Giving them? Restaurant traffic What are the most important costs inherent in our business model? Fixed Cost: Building the website Variable: Marketing, sales people, advertising Options: listing fees, percentage of restaurant fee, restaurant flat fee, first year free, etc. Through which Channels do our Customer Segments want to be reached? • Restaurants: face to face meetings • End Customers: Word of mouth marketing, online, direct email Key Resources • Designers, Engineers • Business development, Sales • Money How will we Get, Keep and Grow Customers? Retention plan: points system, Groupon, promotional item, value add free meal, etc. (Pass, Fail, Unclear) • Medium-low end restaurants • Medium-high end restaurants that take reservations . Revenue Management . Working capital . Filling Seats Yesterday
FidélEat Younger Trendy Young families • Platform design and development • Business development • Partnerships and marketing Price Discounted bookings, secured reservations, restaurant comparisons Discounted pricing - Discount rewards for loyalty - Promotional Credits Key Partners Restaurant owners Key Suppliers Possibly Open Table What are we getting from them? Reservation Service Giving them? REPEAT Restaurant traffic What are the most important costs inherent in our business model? Fixed Cost: Building the website Variable: Marketing, sales people, advertising Options: listing fees, percentage of restaurant fee, restaurant flat fee, first year free, etc. Monthly Subscription Fee, Tiered subscriptions Through which Channels do our Customer Segments want to be reached? • Restaurants: face to face meetings • End Customers: Word of mouth marketing, online, direct email, NY Times • Designers • Engineers • Business Development • Sales • Money How will we Get, Keep and Grow Customers? Retention plan: points system, Groupon, promotional item, value add free meal, etc. Expiring Promotional Credits (EPCs) (Pass, Fail, Unclear) - Medium-low end restaurants - Medium-high end restaurants that take reservations - Revenue Management - Working capital Filling Seats - Repeat Business - Fill seats during slow periods Today Monthly Subscription Fee, Monthly/Quarterly customer data service
13 New (45 Total) Interviews Thomas Jonathan Melissa Nina Tim Vladimir Thursday – Day 4 Diagnose your health from anywhere
65 Interviews 0 5 10 15 20 25 Industry Expert Patient Provider Payer Mfg Wednesday Tuesday Monday
Using an RMVP to Get $$$ Out of Wallet
67 DIAGNOSLY - Today • Provider engagement • Device mfg relationships • R&D • Customer support • Convenience of time and place • Reduced cost for uninsured or high deductible plan subscribers • Diagnostic and monitoring device OEMs • Insurance networks • Independent sales reps • People (R&D) • Customer acquisition • Regulatory & Liability • Testing fees (per test/kit) • Online • Independent sales reps • Physicians / Clinics • Engineers and designers • Legal/Regulatory Knowledge (IP, FDA, HIPPA, etc) • Reduced cost and increased quality of software • Lower costs due to reduced visits, less fraud and consistent, comprehensive data Consumers Families (primarily subsequent mothers) in the fertility testing, pregnancy, and early childhood phase Device Makers Small to medium makers of at-home monitors and diagnostic devices Payers Insurance, Medicare, Medicaid Providers General Practitioners, Midwives, Nurses, Office Manager, Specialists (Pediatricians, OB/GYNs, vets etc)• Improved patient outcomes • Earn more money via focus on higher value procedures Automated, Optional 24x7 Support Automated, Optional SDK Support Indirect, trusted supplier Livestock Managers Cattle ranchers, horse farmers Drug Developers Big Pharma, Biotechs
68 • 15% Commission DIAGNOSLY - Today • Provider engagement • Device mfg relationships • R&D • Customer support • Payer Approval Process • Convenience of time and place • Reduced cost for uninsured or high deductible plan subscribers • Diagnostic and monitoring device OEMs • Insurance networks • Independent sales reps • Healthcare Professional Staffed Remote Centers • People (R&D) • Regulatory & Liability • Customer acquisition • Testing fees (per test/kit) • Engineers and designers • Legal/Regulatory Knowledge (IP, FDA, HIPPA, etc) • Reduced cost and increased quality of software • Lower costs due to reduced visits, less fraud and consistent, comprehensive data Consumers Families (primarily subsequent mothers) in the pregnancy and early childhood phase + traveling families Device Makers Small/med, at-home monitors and diagnostic devices Payers Insurance, Medicare, Medicaid Providers General Practitioners, Midwives, Nurses, Office Manager, Specialists (Pediatricians, OB/GYNs, vets etc) • Improved patient outcomes • Earn more money via focus on higher value procedures Automated, Optional 24x7 Support Automated, Optional SDK Support Indirect, trusted supplier Corporate • Physician / Clinics • Online • Independent Sales Reps • Free Beyond Provider Acquisition • Pay Per Click $$$ • Testing fees (per test/kit) • Subscription
CONFIDENTIAL 69 Laboratory Testing Services (3rd Party) • Analysis of raw diagnostic data • Illness and disease detection • DNA analysis • Risk assessment Diagnosly Ecosystem Patients Online Health Services (3rd Party) • Electronic Health Records (EHR) • Health Service Provider Network • Billing and Insurance • Appointment scheduling • Pharmacy • Virtual appointments DIAGNOSLY PLATFORM Cloud & Data Services Phone, Tablet, and Web Applications Admin & Reporting Dashboard: • Monitoring and diagnostic history • Aggregated lab results • Alerts and reminders • Advanced data analytics • Analysis of treatment efficacy • Personalized health content and service recommendations Medical Devices (OEMs) Primary Physicians Researchers Payers Patient Data Captured: • Raw data from blood, urine, saliva samples • Raw data from sensors • Symptom descriptions and pictures • Demographic data • Location • Health History Pharmacy Remote MD/Nurseline
70 Interviews • Would like to have a service to generate the script because they could check it with the pharmacist • I love using technology to better organize our life and I would absolutely pay to use an application that tracked our kids test records, etc. • Need a partnership with a 3rd party healthcare specialist call center • Premature babies is $62B annual expense in the US (500k / baby), one opportunity may be monitoring at risk mothers to reduce occurrence • None of the mothers we spoke to were aware that many of these at home tests existed • Investigating pregnancy monitoring devices for at risk mothers SAYING NEW INSIGHTS DOING CONCLUSIONS
71 Personas Aurora, 38: trying to start a family Heather, 36: 3rd time expectant mom Elena, 32: Mom of premature baby • 2 Masters (Accounting, Nutrition) • Stay at home mom (2 kids) • Organic food in fridge • Buys in bulk • Tracks expenses via spreadsheet • She and son take weekly asthma tests • High-deductible plan • Loves free apps (photo sharing, games etc) • Full-time writer/editor on maternity leave • Self-described “worrier” • Used iPhone apps during pregnancy (e.g. ‘til baby, kickcounter) • Uses Snuza baby movement monitor, and iPhone baby monitor to track baby • Humidifies and purifies air • Hand sanitizers in every room • Splurges on preemie clothes • Owns her own PR firm • Trying Pergonal, preparing for IVF (after Clomid didn’t work) • Tracks basal body temperature via spreadsheet • Uses an ovulation microscope and ovulation test strips daily • Uses Woman Calendar, Ovulator (fertility iPhone apps) • DailyStrength and RESOLVE member (fertility support groups)
72 • Sees 50 patients/day (mostly checkups, coughs, rashes) • Lots of panicked phonecalls from new parents • Talks to 15 patients per day via phone (bills for 60% of these) • Hates paperwork • Thinking of moving to a cash- only business • Gets paid for data analysis • Member of doctors-without- borders Personas Dev: Device Developer Dr. Robbins: Pediatrician Mike: Payer Account Manager • Specialist in anemia measurements • Using open protocols (eg RS232) • Would love a way to integrate his system with others’ • Frustrated with open source platforms (e.g. SanaMobile) and fragmented apps space • Not familiar with heart rate monitors, thermometers, etc • 8 years experience • Working on MPH part-time (studying telemedicine in developing world) • Uses HealthConnect to prepare quotes for clients • Coordinates renewal and open enrollment meetings • Leads smoking cessation initiative • Dual Dutch/US citizen
73 Adword Campaign • Went Live this morning • Will share results tomorrow
74 At home uterine monitoring for high-risk pregnancies http://www.ecommunity.com/homehealth/index.aspx?pg =10797 http://www.fetalmonitorstrips.com/learn_more.html
75 Today’s Tasks  Request for Class – Connections at insurance companies; preferably involved with payment structures.  Channel - Interviews - Price / Configuration Adwords Analysis  Acquisition Cost / Timeframe - Pay for Click Conversion Adwords Analysis - Flow diagram and time estimates for physician sales and insurance co approvals  Further Review of Revenue Model - Interviews & Research
jerry sanders Group 14 76 [Social Crowd] An online platform helping local communities to thrive 4/16: 12 interviews (5 Investors; 7 Businesses) 4/17: 15 interviews (3 Investors; 12 Businesses) 4/18: 3 interviews (3 Community Groups) Total: 30 interviews
jerry sanders Group 14 77 Yesterday One-off: - Platform design Ongoing: - Screening - Marketing - IT maint. & support - New market ID An online ‘matchmaking’ forum where F&G connect. - Independent business organizations - COMMUNITY INTEREST ORGS - Community funding institutions - Local business school alumni - Personal connections - Local business activists Value-driven: Most important costs include: - Web platform development - IT management & technical support - Marketing & customer acquisition - Application review costs (experts) Dual revenue structure: - Direct contact through website - Local news & PR channels - Word of mouth - Customer d/base - Proprietary knowledge - Brand copyright - Site skin: look, feel - Semi-automated - Local community- focused Finders: Individuals & groups seeking investment opportunities that provide (i) requisite returns and (ii) a direct benefit to a local community. Grinders: Start-ups and EXISTING locally owned businesses & COMMUNITY GROUPS seeking capital investments of $10K-$2M Finders: Investment efficiency through a screening process that ensures only the top ideas are posted. Grinders: Access to small amounts of capital typically hard to acquire through institutional routes. - Finders Fee (2% of consummated deal value) - Grinders Fee ($250 application review fee)
jerry sanders Group 14 78Experiments yesterday [Social Crowd] Test Activities Results Genuine market size Further research to determine the accurate dollar value attributable to our target market CONFIRMED & ONGOING 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 INCONCLUSIVE Importance of local aspect  Surveys & interviews with F&G to determine  Research local investment statistics  Research industry constituents CONFIRMED How to plug (not bridge!) the gap Surveys & interviews to determine LT sustainability of our business model. For instance, the impact of consummating:  a good deal: loyalty to us or the contracting party?  a bad deal: negative splash-back on us? INCONCLUSIVE Interest of Community Groups Surveys & interviews to determine level of interest & involvement (are they partners or customers?) TO BE TESTED Diving deeper…
jerry sanders Group 14 79Results yesterday [Social Crowd] • Bifurcated investor customer segment: – Direct local beneficiaries (I like the coffee!) – Indirect local beneficiaries (property values) • Potential additional revenue stream – Share in topline revenue of subject business – Proven model: Bryant Park Corporation • Community board endorsement – Brand – Helps establish barriers to entry We’re STILL learning…
jerry sanders Group 14 80 Today j One-off: - Platform design Ongoing: - Screening - Marketing - IT maint. & support - New market ID An online platform helping local communities to thrive‘matchmaking’ forum where F&G connect. - Independent business organizations - Community Groups & Block Associations interest orgs - Community funding institutions - Local business school alumni - Local business activists - Personal connections - Government entities Value-driven: Most important costs include: - Web platform development - IT management & technical support - Marketing & customer acquisition Dual revenue structure: - Direct contact through website - Local news & PR channels - Word of mouth - Customer d/base - Proprietary knowledge - Brand copyright - Site skin: look, feel - Semi-automated - Local community- focused FindersInvestors: Individuals & groups seeking investment opportunities to provide a direct or indirect benefit to a local community. GrindersBusiness es: Existing locally owned businesses seeking capital investments of $10K-$2M FindersInvestors: Investment efficiency through a screening process that ensures only the top ideas are posted. GrindersBusinesses: Access to small amounts of capital typically hard to acquire through institutional routes. Giving residents a way to preserve their neighborhood - Finders Fee (2% of consummated deal value OR top line revenue interest in subject business) - Grinders Application Fee ($250 application review fee)
jerry sanders Group 14 81A real world example [Social Crowd] Transaction mechanics [Social Crowd] Screen Betel Bar & Kitchen Existing investor [Social Crowd] Web Platform Commercial Deal 1 2 3 4 5
jerry sanders Group 14 82Experiments today [Social Crowd] Test Activities Results Long term viability Surveys & interviews to determine LT sustainability of our business model. For instance, the impact of consummating:  a good deal: loyalty to us or the contracting party?  a bad deal: negative splash-back on us? TO BE TESTED User interface How investors and businesses prefer to interact (privacy etc) TO BE TESTED Markets Attend a community board meeting to further test the genuine market size/need  Streets vs Neighborhoods  Street Ambassadors TO BE TESTED Diving deeper…
jerry sanders Group 14 83Market Size* [Social Crowd] Total Addressable Mkt 27,000,000 small businesses in USA Served Available Mkt 954,311 small businesses in NYC (~5% TAM) Target Mkt Assume 1/3 are self-funded & 1/3 are funded by conventional (institutional) facilities *Statistics provided by the US Small Business Administration 27,000,000 954,311 318,104 Number of small businesses
jerry sanders Group 14 84 Neighborhood Ecosystem Hospital Closed down West Village Flower Revenues  30% Korean owner  Doesn’t speak English Partner Crime Bookstore v Business   Trying to cope with events, … Economic Environment Do we still help that business? Need some $ for renovation & upgrade Souvenir store Revenues  “Need affluent customers” Record Store Closing down 20Apr12 Leather bag store  Exporting overseas Needs cash to upgrade façade.  Needs to “modernize” Economic Environment Need some $ for renovation & upgrade Needs “support” to “modernize Wine Store manager  Lives in the hood  Would invest for goods in return ($50-100) Rents  New bar opening City/ Local council Doesn’t enforce regulations New bar opening Katherine  Has $$  Doesn’t have time to invest in the hood. New bar opening X Historical Society Yelp Neighborhood communities Chains/ MNCs Property owner  Wants stable/increasing property value Coffee drinker from East Village Enjoys coming to the hood Customer behavior Coffee Shop Needs a new Espresso machine ($10k) Apartment above coffee shop [Social Crowd]
jerry sanders Group 14 85 Leather bag store Investor Resident Suggests investments via direct mailing, … New investor Yelp, …. Neighborhood communities Accumulates data on local hood/ business Business needing $$ Consult?? Partner Crime Bookstore What “drives” them? Build database Screen $$ $$ and/or profit sharing “Social Crowd” Existing investor Other Key Partners? Client database Reach out to investors ? Suggest investments? “Social Crowd” Reach out to talk about store/ Auto-creation Inform Web Platform [Social Crowd]
Marketing campaigns designed for delivery to cell phones, smart phones and other media devices. Team members: Alex Goncharuk Jorge Melgar Hasan Shahid Broor Spahr van der Hoek Interviews: 2 (21) Restaurants, (16) Customers 2 Medical, 2 Telecom, 1 Channel partner
Customer Discovery Phase 1Phase 2 Phase 3 Phase 4 State Hypotheses Restaurants have a marketing problem Customers don’t like to receive random mobile marketing (i.e. SMS, email) Restaurants Customers Test the Problem 2 interviews with owners 14 interviews with customers Test the Solution Web-based mobile marketing tool App that allows them to choose what they receive Verify or Pivot Pivot Verified
Restaurant’s Ecosystem - Suppliers - Landlords - Personnel - Owners - Legal - Guide: diners rate quality of restaurants, Zagat charges for content - Online reviewers : receive feedback from customers and sell advertisement to restaurants - Online reservation system: restaurants pay monthly fee for terminal and $1 per reservation - Discounters: sell highly discounted products to end users - Social Media: restaurants advertise directly through this media
Restaurant Segments Fine dining - Always full - Dedicated marketer Midlevel prime location - Generally full - Part-time marketer Midlevel neighborhood Low restaurants - No budget Margin 17% Labor 39% Food 25% Others 9% Rent 10% - Income subject to weekly and monthly seasonality - Dependent on loyal customers sales - Low margins don’t allow high discounts - Mixed results from digital marketing - Fear of implementing new technologies
Customer Segments Age 20-25 - Price, location, quality - Website Age 26-35 - Quality, decor - Zagat, word of mouth Age 35-45 - Quality - Zagat Age 45+ - Quality, clean - Known restaurants - Interest in receiving opt-in mobile marketing information - Location based restaurant info - Initial interest in getting an app that gives the quality, price and promotions
Market Size US 600,000 New York 28,000 Mid Level 8,700 - Mid level restaurant digital marketing budget ~ $750- $1,000 per month - Assuming a 30% market share and a fixed monthly fee of $500 annual revenue is $15.7M - Additional analysis is needed on variable revenue generation methods
Mobile Marketing Day 1 Most important customers? Small businesses (or Telecoms, marketing agencies?) What are their archetypes? Companies that would want to use mobile marketing services Job they want us to get done? Deliver msg to end- customer through platform Key Activities do we require? Software development, data analysis Problems solved: - Allow customers to develop and execute mobile marketing campaigns (based on interactive access with end users) Needs satisfied: - Efficient low-cost communication with end consumers Key features? - Simple standardized Web- based software tool allowing use of SMS, QR codes and NFC Who are our Key Partners? Telecoms Who are our key suppliers? Telecoms, search engines What are we getting from them? Giving them? Phone numbers/ short code, advertising Important costs? Fixed? Variable? Software (technology) development, (fixed) marketing/sales (variable) Subscription fee, campaign fee and performance-based fee? Which Channels? Online (trade fairs?) What Key Resources we require? People, IT infrastructure (data center) Get/keep/Grow Customers? Low-cost platform that is effective and quickly shows results (switching costs for telecoms and marketing)
Mobile Marketing Day 2 Restaurants want to minimize the dependency on discounters Restaurant want to run local marketing campaign ( 2 mins breakfast , cheap bagel after 11am, …) Key Activities do we require? Marketing Campaign templates, Software development, relationship building - Restaurants to reduce sales fluctuations - Restaurants to engage customers Who are our Key Partners? Online advertisement Who are our key suppliers? Telecoms, search engines What are we getting from them? Giving them? Message delivery services Important costs? Fixed? Variable? Software (technology) development, (fixed) marketing/sales (variable) Fee per marketing campaign, monthly subscription fee Which Channels? Online What Key Resources we require? People, IT infrastructure (data center) Get/keep/Grow Customers? - Low-cost platform - Marketing Campaign Templates - Cheap and an effective way of reaching the customers - Reaching local customer (location based)
Mobile Marketing Day 3 Restaurants want to minimize the dependency on discounters Restaurant want to run local marketing campaign ( 2 mins breakfast , cheap bagel after 11am, …) - Mid pricing level restaurants in neighborhood areas Key Activities do we require? Marketing Campaign templates, Software development, relationship building - Restaurants to reduce sales fluctuations - Restaurants to engage customers - Cheap and an effective way of reaching the customers - Reaching local customer (location based) - Increase customers without affecting existing sales Who are our Key Partners? Online advertisement review webpages restaurants Who are our key suppliers? Telecoms, search engines What are we getting from them? Giving them? Message delivery services Quality information Important costs? Fixed? Variable? Software (technology) development, (fixed) marketing/sales (variable) Fee per marketing campaign, monthly subscription fee Fee based on effectiveness Which Channels? Online, app, loyalty programs What Key Resources we require? People, IT infrastructure (data center) Get/keep/Grow Customers? - Low-cost platform - Marketing Campaign Templates - Filter incoming “discount” info - Receive restaurant information (price, quality) if you are in an unknown place - People between 30- 45 years - People in an unknown area Free
Mobile Marketing Day 4A (Restaurants) - Mid priced level restaurants Build and Support marketing Campaign templates Website and Mobile App development Relationship building - Increased profit - Increased customer loyalty- Restaurants databases - Online advertisement - Review websites - Restaurants - search engines Important costs? Fixed? Variable? Software (technology) development, (fixed) marketing/sales (variable) Campaign fee, Subscription - Piggy back on loyalty program - Restaurant databases websites People, IT infrastructure, Telecom Infrastructure, Marketing Strategies for Restaurants - Provide cheaper alternative to discounter websites - Customizable marketing program - Filtered promotion information - Local and timely promotions - Age group 30-45 years - Travellers Free - Filtered access to local deals - App store - visited restaurants
Mobile Marketing Day 4B ( TELECOM AND MARKETING AGENCIES) Telecoms, marketing agencies Software development, data analysis - Infrastructure to execute marketing campaigns - Efficient low-cost communication with end consumers - Multi-channels access to the potential customer Telecoms, search engines Software (technology) development, marketing/sales (variable) Subscription fee, per customer royalty Direct sales, online advertisementPeople, IT infrastructure Low-cost platform, increasing number of standard marketing campaigns
An online platform that connects procurement consortiums with suppliers Interviews: 18 on Day 3 64 Total Ravi Pingli Arez Mardoukhi Gopi Sukhavasi Kevin Woolley
Key Partners • Hotel and restaurant associations • Independent research services Key Activities • Develop online platform • Continuous buyer and supplier development Value Propositions Buyers • Find best suppliers for procurement consortiums • Facilitate transparency and ease of use Suppliers • Increased visibility to potential customers Channels • Outside salesforce Customer Relationships • Regular customer contact Customer Segments • Local/ independent restaurants (no chains) • Local/ independent hotels (no chains) • Food, tabletop, and bed linen suppliers Cost Structure • Fixed: Software development/maintenance • Variable: Marketing/sales Revenue • Annual subscription contract for both buyers and suppliers (~0.5% of consortium revenue) • Buyers/suppliers charged to submit/respond to proposals Key Resources • Software development team • Marketing resources Business Model Canvas: Day 3
Key Partners • Hotel and restaurant associations • Independent research services Key Activities • Develop online platform • Continuous buyer and supplier development Value Propositions Buyers • Lower costs • Increase options and negotiating position Suppliers • Increased visibility to customers • Increase sales price Channels • Outside salesforce Customer Relationships • Regular customer contact Customer Segments • Local/ independent restaurants (no chains) • Local/ independent hotels (no chains) • Food and tabletop and bed linen suppliers Cost Structure • Fixed: Software development/maintenance • Variable: Marketing/sales Revenue • 3% commission on sales paid by supplier • Annual subscription contract for both buyers and suppliers (~0.5% of consortium revenue) Key Resources • Software development team • Marketing resources Business Model Canvas: Day 4
Business Hypotheses Hypothesis 1 • Local restaurant suppliers provide bulk discounts • Test •Interviewing 4 major supplier executives •Obtained price versus quantity data by visiting supplier Hypothesis 2 • Local restaurants require material cost reductions to join YSN Test • Interviews with local restaurants about types of supplies Result • Accepted but inconsistent between different suppliers Result • Different senstivities shown across different categories of supplies Hypothesis 3 • Local restaurant suppliers pay subscription fee to YSN Test • Interviews with suppliers Result • Rejected. Local restaurant suppliers pay commission to YSN
Glassware manufacturer YSN - Consortium lists aggregated orders on website - Suppliers place bids on orders - Restaurants pay reduced markup - Glassware supplier pays YSN 3% sales commission Third party sales company or independent sales rep - Sells through catalogs - Local restaurant gets a 50-10 discount - Sales company buys from supplier on a 50- 50 discount level - Sales company gets 10-14% commission on sales Local restaurant Restaurant consortium Ecosystem Showrooms - Buyers pay up to 15% discount on mixed bulk orders depending on category
Early adopters • Prepare demo, present contract, and begin building supply network • Selling at least one case of glassware to one of the interviewed restaurants by tomorrow Next steps • Master Chef Warehouse o Offering 3% commission on sales through YSN o Conditional on seeing the demo by Saturday 9AM • MCIC o Offering 3% commission on sales through YSN o No conditions on offer • Lucaris USA o Pending today
Customer Contacts Yesterday: 22 traveler groups in person / 33 online survey responses Customer Contacts To Date: 53 in person / 33 online / 75 Adwords clicks / 51,000 online impressions Purchases To Date: 7 Repeat Customers: 1 Scott Greco Ari Harkov Alex Morrison Sarah Shenton Francois Viargues Michael Burke
How: Sell itinerary for $9.99, pay local 10%, keep 90% gross margin. Mass Distributors – Content Purchasers Locals - Content Providers 1. Itinerary collection & updates 2. Marketing / PR 3. Customer service – locals & travelersSuppliers: local trendsetters, work in hospitality, younger/creative, bloggers, active parents Get itineraries: $$ for sales as well as exposure (blog, video) Fixed costs: upfront development of site and app Variable costs: talent/people, marketing/advertising, compensation of locals, product iterations How: Sell itinerary for $9.99, pay local 20%, keep 80% gross margin. • Craigslist • Social media • Local blogs 1. Web developers 2. Marketing/PR team 3. Local expert outreach 4. Sales force (low end, in person) Version 3 – EOD April 17th 2012 Mass Distributors – Content Purchasers Bakamba helps tourists have richer, more authentic travel experiences by tapping into the knowledge of locals Save time planning See the “Real” City Filter based on interests Everything in one place Get: PR, digital WOM, SEO, SEM, consumer promotions Keep/ Grow: great customer service, expand cities, improve partner offerings Unique platform for locals experts to share and monetize their local knowledge Revenue sharing & relationship marketing • Search (SEO/SEM) • Social media • Travel blogs / sites Tourists – Content Purchasers Potential idea: Provide recommendations and info to concierges
People want flexibility and dynamic itineraries with options The proper price point for our product is $9.99 People will find our website easy to use and aesthetically pleasing WTP increased significantly when presented with MVPs with options Still inconclusive. Seem to be three segments: Free, $4.99, and $9.99. Need more data. Aesthetically pleasing? Yes. Easy to use? Not at all. Oops. People found the site confusing, difficult to navigate, and were unsure of service for sale Hypothesis Result
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We are solving a clear and deep- seated problem with travel planning. People would rather pay $5-10 and get unbiased recommendations Yes for our personal networks; NO for the 50 or so travelers we’ve spoken to in person this week Two segments – some absolutely would and others don’t care and want deals/sponsorship to make itineraries free to them Hypothesis Result Foreign travelers would not want this tool if they do not have data service Foreign travelers are interested if given printable and/or iPad/mobile offline options
How: Sell itinerary for $9.99, pay local 10%, keep 90% gross margin. Mass Distributors – Content Purchasers Locals - Content Providers 1. Itinerary collection & updates 2. Marketing / PR 3. Customer service – locals & travelersSuppliers: local trendsetters, work in hospitality, younger/creative, bloggers, active parents Get itineraries: $$ for sales as well as exposure (blog, video) Fixed costs: upfront development of site and app Variable costs: talent/people, marketing/advertising, compensation of locals, product iterations, printing/binding How: Sell itinerary for $9.99, pay local 20%, keep 80% gross margin. Tests: can we get locals to contribute without the promise of payment for sales? Get one for free if you create one for your own city? Pay to post? Break up itineraries into sections by different locals? • Craigslist • Social media • Local blogs 1. Web developers 2. Marketing/PR team 3. Local expert outreach 4. Sales force (low end, in person) Version 4 – EOD April 18th 2012 Mass Distributors – Content Purchasers Bakamba helps tourists have richer, more authentic travel experiences by tapping into the knowledge of locals Save time planning See the “Real” City Filter based on interests/location/authors Budget advice / Flexibility needed Get: PR, digital WOM, SEO, SEM, consumer promotions, authors as sales force? Keep/ Grow: great customer service, expand cities, improve partner offerings Unique platform for locals experts to share and monetize their local knowledge Revenue sharing & relationship marketing • Search (SEO/SEM) • Social media • Travel blogs / sites • Authors as sales force Tourists – Content Purchasers Potential idea: Provide recommendations and info to concierges
Year to Date Revenue = $0.07 Next Steps – Continue gathering feedback from +/-20 or so travelers we’ve emailed MVP site access – Test revamp of revenue model: locals pay to post, locals post without promise of payment, or traveler can either pay $9.99 OR get itinerary for free if they create one for their own city – Continue to investigate WTP, particularly with flexibility options – Investigate online survey feedback and correlations – Review and start testing/implementing improvement suggestions for MVP site – Test more onus on local author to enhance product – Explore additional partnership channels – Explore the possibility of providing offers or deals within itineraries
TEAM FACTABASE Comprehensive Business Statistics on Developing Economies Day 4: 14 Interviews Mary Leong, Alexis Farfaro, Calin Bota, Prosasty Chaudhuri, Bader AlKahtani
OUR INTERVIEWS HELPED US FOCUS OUR CUSTOMER SEGMENTS FURTHER Value Proposition Hypothesis Experiment Finding Interview Customers are ready to buy this. They were interested in the benefits of Factabase that we did not highlight like Unique access, Official sources and Cost effectiveness “We can’t wait to have this” – Head of Research McKinsey “This is something that is very unique we really need this” – 6 senior researchers and 1 emerging markets specialist Goldman Sachs • More statistics on emerging markets than anyone else • Convenient access Customer Segments Revenue Streams Interview• Frequent • Non-frequent Consultants and investment banks are a key segment Universities and market research are interested but should not be a priority area for us Individuals and Entrepreneurs are interested • Subscription • Per Table Sale Interview Consultancies and investment banks like a pay as you go offering Individuals and entrepreneurs like more convenient ways to buy like per table
What are the most important costs inherent in our business model? Fixed? Variable? Access to the most comprehensive and Detailed (hundreds of sources per country) database of curated industry statistics on developing markets. (Majority of which are not indexed on search engines & hidden on authority servers) Convenience in access through Advanced Search; Export and Visualization options; Clear sourcing and real-time updates. Companies and individuals with a need for detailed public statistics on Emerging Markets. • Frequent - Consultancies - Universities • Non-Frequent - Professionals - Entrepreneurs - Students/Professo rs • API access (special datasets) • Automated Services • Subscription model (comprehensive or sector/country specific) • Per-table sale option • API $xx per call • National Statistics Offices • Public Authorities • International Organizations • Companies that publish public statistics • Collecting and preparing the statistical tables • Development of automation software and webapps • Customer acquisition and management • Software/Web developers • Research analysts • Data entry people • HR and admin • Business Development • IT Infrastructure • FTE, IT costs, Rent (Fixed) • Part time employee salaries, SEO (variable) OUR BUSINESS MODEL CANVAS AT THE END OF DAY 3 • Direct Sales • Online Sales Pay as you go
What are the most important costs inherent in our business model? Fixed? Variable? Unique access to valuable official statistics on developing economies in a Convenient, Reliable and Cost effective way Companies and individuals with a need for detailed public statistics on Emerging Markets. • Frequent - Consultancies - Universities • Non-Frequent - Professionals - Entrepreneurs - Students/Professo rs • API access (special datasets) • Automated Services • Subscription model (comprehensive or sector/country specific) • Per-table sale option • API $xx per call • National Statistics Offices • Public Authorities • International Organizations • Companies that publish public statistics • Collecting and preparing the statistical tables • Development of automation software and webapps • Customer acquisition and management • Software/Web developers • Research analysts • Data entry people • HR and admin • Business Development • IT Infrastructure • FTE, IT costs, Rent (Fixed) • Part time employee salaries, SEO (variable) OUR BUSINESS MODEL CANVAS AT THE END OF DAY 4 • Direct Sales • Online Sales Pay as you go
VISUALIZING THE VALUE PROPOSITION May, 06 April, 07 May, 07 Last month Last year        Group & Sub-group 456 492 496 0.81 8.77 I     FOOD, BEVERAGES  & TOBACCO 447 473 471 -0.42 5.37 a. Cereals 566 607 607 0 7.24 b. Pulses 295 345 348 0.87 17.97 c. Oils & Fats 520 581 587 1.03 12.88 d. Meat, Fish etc. 396 433 435 0.46 9.85 e. Milk & Milk Products 501 580 584 0.69 16.57 f. Condiment, Spices etc. 467 493 520 5.48 11.35 g. Vegetables 390 479 475 -0.84 21.79 h. Fruits 398 321 309 -3.74 -22.36 i. Sugar, Honey etc. 485 517 520 0.58 7.22 j. Non-alc Beverages 582 623 626 0.48 7.56 k. Prep. Meals etc. 683 745 768 3.09 12.45 l. Pan, Supari, Tobacco etc. 538 579 581 0.35 7.99 II     FUEL & LIGHT 501 529 529 0 5.59 III    HOUSING 423 438 439 0.23 3.78 IV    CLOTHING, BEDDING  & FOOT-WEAR etc. 415 429 430 0.23 3.61 a. Clothing & Bedding 478 500 501 0.2 4.81 b. Foot-wear 479 500 501 0.2 4.59 V      MISCELLANEOUS 497 516 518 0.39 4.23 a. Medical care 369 395 396 0.25 7.32 b. Education 400 422 423 0.24 5.75 c. Recreation & Amusement 667 685 686 0.15 2.85 d. Transport & Communicaton 375 394 395 0.25 5.33 e. Personal Care & Effect 413 437 440 0.69 6.54 f. Household Requisites 567 590 592 0.34 4.41 g. Others 471 501 503 0.4 6.79        General Index Group/Sub-group wise percentage change in All-India index from last month and last year Base:- 1984-85=100 50-5 ‫جدول‬ ‫النـوع‬ ‫خصوصي‬ ‫أجرة‬ ‫نقل‬ ‫حافلة‬ ‫نارية‬ ‫دراجة‬ ‫آليات‬ ‫المجموع‬ Kind ‫المنطقة‬ Private Taxi Truck Bus Motor-Cycle Vehicles Total Region 102654 3934 35361 1896 1003 1259 146107 90540 3491 25841 3116 1811 637 125436 12582 65 6481 522 30 5 19685 63913 371 19777 2023 94 413 86591 7838 8 7670 167 30 5 19685 4400 14 1590 87 2 10 6103 6547 0 1102 126 0 0 7811 8442 2 6029 125 6 48 14652 1234 3 1113 52 1 1 2404 2759 4 1924 7 8 5 4707 2464 0 1424 161 20 0 4069 4092 75 2105 92 20 14 6398 1102 3 812 20 1 0 1938 308567 7970 111229 8394 3026 2397 439588 ‫اإلجتماعية‬ ‫الخدمات‬ Social Service ‫5241هـ‬ ‫لعام‬ ‫والمنطقة‬ ‫اللوحة‬ ‫نوع‬ ‫حسب‬ ‫موزعة‬ ‫بالمملكة‬ ‫المركبات‬ ‫لوحات‬ ‫من‬ ‫المنصرف‬ Car Plates Issued in the Kingdom By Type : 1425 A.H. Table 5-50 ‫الرياض‬ Riyadh ‫المكرمة‬ ‫مكة‬ Makkah ‫المنورة‬ ‫المدينة‬ Madinah ‫الشرقية‬ Eastern ‫القصيم‬ Al-Qaseem ‫تبوك‬ Tabouk ‫حائل‬ Hail ‫عسير‬ Assir ‫الشمالية‬ ‫الحدود‬ Northern Boarder ‫نجران‬ Najran * ‫الجوف‬ Al-Jouf ‫جازان‬ Jazan . ‫ً من عام 4141هـ‬‫ا‬‫ *  تشمل القريات إعتبار‬ * Included Qurayatas From 1414 A.H. . ‫الباحة‬ Al-Baha ‫المجموع‬ Total .  ‫المصدر : وزارة الداخلية - اإلدارة العامة للمرور‬ Source : Ministry of Interior- General Directorate of Traffic . 63 1427 22 50 00 02 1428 00 40 00 03 1/1-30/6/1429 02 00 00 00 1912 FACTABASE Coverage of Competition Collection Reformatting, Normalizing and Preparing Categorization Distribution 1 2 3 4 Quality check
OUR INTERVIEWS HELPED US FOCUS OUR CUSTOMER SEGMENTS FURTHER Value Proposition Hypothesis Experiment Finding Interview Customers are ready to buy this. They were interested in the benefits of Factabase that we did not highlight like Unique access, Official sources and Cost effectiveness “We can’t wait to have this” – Head of Research McKinsey “This is something that is very unique we really need this” – 6 senior researchers and 1 emerging markets specialist Goldman Sachs • More statistics on emerging markets than anyone else • Convenient access Customer Segments Revenue Streams Interview• Frequent • Non-frequent Consultants and investment banks are a key segment Universities and market research are interested but should not be a priority area for us Professionals and Entrepreneurs are interested • Subscription • Per Table Sale Interview Consultancies and investment banks like a pay as you go offering Individuals and entrepreneurs like more convenient ways to buy like per table
What are the most important costs inherent in our business model? Fixed? Variable? Access to the most comprehensive and Detailed (hundreds of sources per country) database of curated industry statistics on developing markets. (Majority of which are not indexed on search engines & hidden on authority servers) Convenience in access through Advanced Search; Export and Visualization options; Clear sourcing and real-time updates. Companies and individuals with a need for detailed public statistics on Emerging Markets. • Frequent - Consultancies - Universities • Non-Frequent - Professionals - Entrepreneurs - Students/Professo rs • API access (special datasets) • Automated Services • Subscription model (comprehensive or sector/country specific) • Per-table sale option • API $xx per call • National Statistics Offices • Public Authorities • International Organizations • Companies that publish public statistics • Collecting and preparing the statistical tables • Development of automation software and webapps • Customer acquisition and management • Software/Web developers • Research analysts • Data entry people • HR and admin • Business Development • IT Infrastructure • FTE, IT costs, Rent (Fixed) • Part time employee salaries, SEO (variable) OUR BUSINESS MODEL CANVAS AT THE END OF DAY 2 • Direct Sales • Online Sales Pay as you go
What are the most important costs inherent in our business model? Fixed? Variable? Access to the most comprehensive and Detailed (hundreds of sources per country) database of curated industry statistics on developing markets. (Majority of which are not indexed on search engines & hidden on authority servers) Convenience in access through Advanced Search; Export and Visualization options; Clear sourcing and real-time updates. • Management Consultancies And Investment Banks • Market Research Firms • Educational Institutes • Professionals/E ntrepreneur • Automated Services • Subscription model (comprehensive or sector/country specific) • Per-table sale option • API $xx per call • National Statistics Offices • Public Authorities • International Organizations • Companies that publish public statistics • Collecting and preparing the statistical tables • Development of automation software and webapps • Customer acquisition and management • Software/Web developers • Research analysts • Data entry people • HR and admin • Business Development • IT Infrastructure • FTE, IT costs, Rent (Fixed) • Part time employee salaries, SEO (variable) OUR BUSINESS MODEL CANVAS AT THE END OF DAY 2 • Direct Sales • Online Sales Pay as you go
TYPICAL CUSTOMER JOURNEY AT GOLDMAN SACHS Interested in a deal in the retail industry in the country Azerbaijan Research Request sent to research team on: - Number of hospitals by type in Azerbaijan - Number of patients by illness in Azerbaijan - Number of beds in each hospital in Azerbaijan - The same data on other nearby countries to compare Premium Database Going the extra mile • 50 phone calls • 40 hours Web search • 50 hours of data entry • $$$ and time spent FACTABASE NO RESULTS 5% of results 10% of results 10% of results 100% of results
OUR INTERVIEWS HELPED US FOCUS OUR CUSTOMER SEGMENTS FURTHER Value Proposition Hypothesis Experiment Finding Interview Customers are ready to buy this. They were interested in the benefits of Factabase that we did not highlight like Unique access, Official sources and Cost effectiveness “We can’t wait to have this” – Head of Research McKinsey “This is something that is very unique we really need this” – 6 senior researchers and 1 emerging markets specialist Goldman Sachs • More statistics on emerging markets than anyone else • Convenient access Customer Segments Revenue Streams Interview• Frequent • Non-frequent Consultants and investment banks are a key segment Universities and market research are interested but should not be a priority area for us Individuals and Entrepreneurs are interested • Subscription • Per Table Sale Interview Consultancies and investment banks like a pay as you go offering Professionals and entrepreneurs like more convenient ways to buy like per table
OUR REVENUE STREAMS AT DAY 3 ComprehensiveSectorSpecific CoverageNeeded FrequentLess Frequent Frequency of Need Entrepreneurs and Independent Researchers Full Access Subscri- ption Based ServicePer Table Charge Per Table Charge Sector based Subscri- ption Service Consultancies Universities Financial Services Firms Market Research Firms
ComprehensiveSectorSpecific CoverageNeeded FrequentLess Frequent Frequency of Need Entrepreneurs and Independent Researchers Full Access Subscri- ption Based ServicePer Table Charge Per Table Charge Sector based Subscri- ption Service Consultancies Universities Financial Services Firms Market Research Firms OUR REVENUE STREAMS AT DAY 4
What are the most important costs inherent in our business model? Fixed? Variable? Access to the most comprehensive and Detailed (hundreds of sources per country) database of curated industry statistics on developing markets. (Majority of which are not indexed on search engines & hidden on authority servers) Convenience in access through Advanced Search; Export and Visualization options; Clear sourcing and real-time updates. Management/Strate gy Consultancies Financial Services Market Research Firms Educational Institutes Individual/Entrepre neur • Automated Services • Subscription model (comprehensive or sector/country specific) • Per-table sale option • National Statistics Offices • Public Authorities • International Organizations • Companies that publish public statistics • Collecting and preparing the statistical tables • Development of automation software and webapps • Customer acquisition and management • Software/Web developers • Research analysts • Data entry people • HR and admin • Business Development • IT Infrastructure • FTE, IT costs, Rent (Fixed) • Part time employee salaries, SEO (variable) OUR BUSINESS MODEL CANVAS AT THE END OF DAY 2 • Direct Sales • Online Sales
What are the most important costs inherent in our business model? Fixed? Variable? Access to the most comprehensive and Detailed (hundreds of sources per country) database of curated industry statistics on developing markets. (Majority of which are not indexed on search engines & hidden on authority servers) Convenience in access through Advanced Search; Export and Visualization options; Clear sourcing and real-time updates. Management/Strate gy Consultancies Financial Services Market Research Firms Educational Institutes Individual/Entrepre neur • Automated Services • Subscription model (comprehensive or sector/country specific) • Per-table sale option (with pay as you go option for large accounts) • National Statistics Offices • Public Authorities • International Organizations • Companies that publish public statistics • Collecting and preparing the statistical tables • Development of automation software and webapps • Customer acquisition and management • Software/Web developers • Research analysts • Data entry people • HR and admin • Business Development • IT Infrastructure • FTE, IT costs, Rent (Fixed) • Part time employee salaries, SEO (variable) OUR BUSINESS MODEL CANVAS AT THE END OF DAY 2 • Direct Sales • Online Sales
What are the most important costs inherent in our business model? Fixed? Variable? • Automated Services Per-table sale option (with pay as you go option for large accounts) • National Statistics Offices • Public Authorities • International Organizations • Companies that publish public statistics • Collecting and preparing the statistical tables • Development of automation software and webapps • Customer acquisition and management • Software/Web developers • Research analysts • Data entry people • HR and admin • Business Development • IT Infrastructure • FTE, IT costs, Rent (Fixed) • Part time employee salaries, SEO (variable) OUR BUSINESS MODEL CANVAS AT THE END OF DAY 4 • Direct Sales • Online Sales • Management Consultancies And Investment Banks • Market Research Firms • Educational Institutes • Individual/Entre preneur Unique access to valuable official statistics on developing economies in a Convenient, Reliable and Cost effective way
Factabase Day 4 Jyotsn a Gianlui gi Kerli Brian Dimita r Camill a Your Groceries… in the 21st Century 136 interviews
Hypotheses / Results – Day 3 Inventory tool enhanced with recipes and dietary info Small retailers are good partner for sales fullfilment • Small mom & pop shops are fearful / busy growing physical sales • Mid-sized are already present online somehow: “talk to head office” • 86% would use the eFood app • 70% WTP, 35% >$1.99  Survey to validate day 2 results    Retail interviews (8) Key Insights: We validated the concept Sales delivery partners are NOT small retailers  Customers willing to scan / record inventory • 48% would scan/ input manually  Survey  App would convert users to online shopping • Survey indicates 43% increase  Survey   • eFood makes connections that don’t currently exist • Recipe / shopping apps and online shopping apps exist but are not married together nor with inventory management  20 research 
Value Proposition For the Consumer We save you TIME by helping you TRACK, DECIDE ON and BUY groceries For the Business Partners We generate SALES to your store We deliver effective ADS at the point of purchase decision
eFood Value Prop and Revenue Generation Model Track Discover Educate & Communicate What I have What I don’t have Recipes Required Ingredients SUGGEST DECIDE PURCHASE SHARE Healthy Eating Info Share recipes with friends Display Ads Recommendations Commission on online order or store purchase Display Ads Functionality Output User BenefitRevenue Opportunity Buy Online order In-store purchase
Web portal Smartphone App CONSUMER ’S Kitchen eFood Platform Online Inventory Multiple devices sync Recipes Healthy Eating Nutritional Info Tablet App Social Networks Online stores eFood Ecosystem ADVERTISERS CONTENT FULLFILLME NT DELIVERY Physical Stores O R Orders Search & Recommendati on CONTEN T MONEY GOODS
Five things to know about online grocery shopping: Consumers love online grocery shopping, but it takes time getting used to. You can simply the process by improving the online experience with navigation, search, online help and porting over shopping lists. Deliver a better time-saving experience and consumers will hang on. Online baskets are different than offline baskets. The average transaction size is much larger for food and beverages ($80 online / $30 offline) and health and beauty purchase ($30 online / $10 offline). And online shopping offers a greater mix of pack sizes and categories. Consumer perceptions and purchase behaviors are affected in important ways. The interactions with the online ‘store’ environment are fundamentally different than an in-store experience. The online experience is fueled by a needs-driven experience as a greater variety of options are made available on screen. Online shopping “levels the playing field”. Big brand ‘physical’ advantages do not translate online. With universal distribution and search functionality an inherent bias toward niche players is created. Ultimately, price transparency, connectivity and open content favor a purely ‘rational’ market. Large and small brands can win online by combining marketing savvy with digital capabilities to add value. With interactive websites, smartphone applications and social media connections, expanding your brands in new and innovative directions is virtually limitless.
Five things to know about online grocery shopping: Consumers love online grocery shopping, bu t it takes time getting used to. You can simply the process by improving the online experience with navigation, search, online help Deliver a better time-saving experience and consumers will hang on Online baskets are different than offline baskets. The average transaction size is much larger for food and beverages ($80 online / $30 offline) and health and beauty purchase ($30 online / $10 offline). And online shopping offers a greater mix of pack sizes and categories. The online experience is fueled by a needs-driven experience Big brand ‘physical’ advantages do not translate online Large and small brands can win online by combining marketing savvy with digital capabilities to add value Expanding your brands in new and innovative directions is
Top line survey results Would you use smartphone/scanner / manually input your products? Dou you shop online for grocery goods? Would you pay and how much for grocery app?
• Automated services • Dedicated manager • Online and Offline End-users: • - Family busy mums / working fulltime • - Higher and medium income • - Willing to pay for convenience (headspace) • People who cook at home and buy at least something online • Platform development & management • Platform promotion Marketing & sales tool: • new customers • Increase revenues • information on consumption behaviour • Increased loyalty • Grocery Distributors to stores / horeca sector • Apple / Android Platforms • Delivery company (fresh direct) • Content providers (recipes) • BeVinco • Quantified self • Platform management and development • Customer acquisition costs • Cost for service premium users • transaction fees on online purchases (from supermarkets) • add revenues • Direct sales force • Platform • Customer base • Software developers • Partners relationship managers • Content development and management 1 3 2 5 6 7 8 9 • Save - time - money • Value added - Diet advisory management - Recipes • Home cooking service 4 • Grocery Retailers • Distributors (Food) • Basic app is for free • Selling smartphone apps and extra services - freemium • Selling hardware (scanning devices) • On-line retailers • myvirtualpantry.co m • Smartphone apps • web sales • Household appliance store for scanners (Premium users) • Automated and targeted mass customization based on past consumption patterns &, reccomendation analyses End user FMCG retailers Multi-sided platforms DAY 3HoReC a
Automated Service (Smartphone App and Website) • Time Conscious • Tech Friendly • Cook at home NB. Trackers (Early evangelists) • Platform development & management • Platform promotion Generate Sales, expand retailers customer base and avg. shopping basket • Retailers (Physical & Online) • Apple / Android Platforms • Content providers (Recipes etc.) • Platform management and development • Customer acquisition costs • Cost for service premium users Sales commissions on retail orders • Software developers • Partners relationship managers • Content management 1 3 2 5 6 7 8 9 • Save time & effort by Tracking, Deciding on & Buying Groceries • Eat Better 4 Physical Retailers Online Retailers • Two tier Smartphone App pricing : Lite = Free, Pro = $1.99 (Limited time free promo) • Selling hardware (scanning devices) Direct App Store In –person dedicated (Relationship Manager) Consumer s DAY 4Advertisers In-person dedicated (Ad sales) Indirect Partner Stores Direct Advertisers Deliver targeted Advertising Display ads, recommendations MULTI-SIDED PLATFORM Advertiser Retailers
eFood user experience

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Day 4 presentations columbia apr 2012

  • 1. Columbia B7739-002 Steve Blank Bob Dorf Advanced Entrepreneurship April 19, 2012
  • 2. Welcome to Day 4! Order of Presentations 1. Kadak (Tea Lab) 2. Pulze 3. Digital Exchange Network 4. TVM Technologies 5. Jiae 6. Table Compass (FidelEat) 7. Diagnosly 8. Social Crowd 9. Mobile Marketing 10. YSN 11. Bakamba 12. Factabase 13. eFood 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 ● We have our reception 5-6pm today (Thursday) please wear your name tags. This will be a good opportunity to meet your fellow classmates and the professors over a drink Each team will have 5 minutes to present and 3 minutes for Q&A
  • 3. Adeem Fenster Shashi Shrimali Stella Chan Sanjay Bharadwaj Richard James Neeraj Lal Total Interviews: (10 in person, 179 cumulative total) Authentic Asia Tea T4U
  • 4. How will we Get, Keep and Grow Customers? • Unique, customized tea, their way • Consistent quality • Increase product variety • TEA I.D. • word-of-mouth from students (campuses) • Tea tasting event to collect customer feedback (via iPad) Tea Lab – 04/18/2012 Who are our most important customers? • repeat customers • health conscious customers • Customers looking for a fun new experience What are their archetypes? • The rising teen • Healthy parents • Undergrads What Job do they want us to get done for them? • Custom tea their way! • Fun/unique ingredients • make the tea (incl. picking the best ingredients) • education of tea • cool place to hang out What Key Activities do we require? • Purchasing raw material • Brewing tea • Setting up retail outlets • Advertising, & marketing • Setting up customer feedback channel and analysis • Business development with campuses • Product mix creation • FP&A management • Hiring Which of our customer’s problems are we helping to solve? • consumer don’t have access to quality tea outside the home • Formula/proportions are off Which customer needs are we satisfying? • Tea the “way I like it” outside the home • Tea w/out tea bags • Cool experience / social setting for tea What are the Key Features of our product that match customers problem/need? • Taste of our tea (quality) • The availability of tailored flavor • Speed of delivery • Convenience • Experience Who are our Key Partners? • Indian stores and Asian stores • Eventually tea makers • Indirect distribution through -- subway, panda express Who are our key suppliers? • Indian store from NJ • Chinese stores from Chinatown • Grocery stores such as Wal-mart • Restaurant utensils/hardware suppliers What are we getting from them? Giving them? • Milk, sugar, Splenda, tea leaves, cups, spices, pots/pans • MONEY, more revenue What are the most important costs inherent in our business model? Fixed • Rent • Equipment, furniture and fixtures Variable • Raw materials & supplies • Employee salaries How do we make money? What’s the revenue model? Pricing tactics? • Online sales for home consumption • Data – based on the TEA ID card! • Keep the price close to Starbucks thereafter • Never price below breakeven even during promotion period • Find ways to give them discounts (survey --- buzz discounts) Through which Channels do our Customer Segments want to be reached? • Tea lab stores • direct-to-home delivery • Online What Key Resources we require? • Money • Retail outlets • POS system to track sales • SAP system for accounting • License from NY / Campus approval • HR for hiring & training • Tea brewing equipment
  • 5. How will we Get, Keep and Grow Customers? • Unique, customized tea, their way • Consistent quality • Increase product variety • TEA I.D. • word-of-mouth from students (campuses) • Tea tasting event to collect customer feedback (via iPad) Tea Lab – 04/19/2012 Who are our most important customers?  repeat customers  health conscious customers  Customers looking for a fun new experience What are their archetypes?  The rising teen  Healthy parents  Undergrads What Job do they want us to get done for them?  Custom tea their way!  Fun/unique ingredients  make the tea (incl. picking the best ingredients)  education of tea  cool place to hang out What Key Activities do we require?  Purchasing raw material  BRAND – Tea Lab  Brewing tea  Setting up retail outlets  Advertising, & marketing  Setting up customer feedback channel and analysis • Business development with campuses • Product mix creation • FP&A management • Hiring Which of our customer’s problems are we helping to solve?  consumer don’t have access to quality tea outside the home  Formula/proportions are off Which customer needs are we satisfying?  Tea the “way I like it” outside the home  Tea w/out tea bags  Cool experience / social setting for tea What are the Key Features of our product that match customers problem/need?  Taste of our tea (quality)  The availability of tailored flavor  Speed of delivery  Convenience  Experience Who are our Key Partners? • Indian stores and Asian stores • Eventually tea makers • Indirect distribution through – franchises in airports, hotels? subway, panda express Who are our key suppliers? • Indian store from NJ • Chinese stores from Chinatown • Grocery stores such as Wal-mart  Tea merchants  Kiosk manufacturers  Restaurant utensils/hardware suppliers What are we getting from them? Giving them?  Milk, sugar, Splenda, tea leaves, cups, spices  MONEY, more revenue What are the most important costs inherent in our business model? Fixed  Rent  Equipment, furniture and fixtures Variable  Raw materials & supplies  Employee salaries How do we make money? What’s the revenue model? Pricing tactics? • Online sales for home consumption • Data – based on the TEA ID card! • Keep the price close to Starbucks thereafter • Never price below breakeven even during promotion period • Find ways to give them discounts (survey --- buzz discounts) Through which Channels do our Customer Segments want to be reached? • Tea lab stores • direct-to-home delivery • Online What Key Resources we require? • Money • Retail outlets • POS system to track sales • SAP system for accounting • License from NY / Campus approval • HR for hiring & training • Tea brewing equipment Tea lab kiosks
  • 6. Takeawa ysTea café • High-end tea café in NY city => set for failure •Key costs: Rent, Utility, Salary, and ingredients… •Market for both hot and cold tea • Flagship store => for branding • Way to make money => go outside New York City • Sell your products via partners • No brand => no partnering with restaurant Kiosks •Low fixed costs/rent • High foot traffic •Customized Kiosks available at $20K- $40K • High visibility => low marketing costs
  • 7. Entry Exit Cups Indian Tea Chinese Tea English Tea Herbs & Spices Sweeteners Pick a cup Pick a tea Pick a herb Pick a sweetener Boil your tea Pay money Enjoy your tea and come back Store your TeaId MVP
  • 8. Business Hypothesis Hypothesis Tests Results Retail cafe channel is profitable. Breakeven Analysis Retail kiosks channel is profitable. Breakeven Analysis √
  • 9. Breakeven Analysis Manhattan Store "Middle America" Store "Middle America" Kiosk Contribution margin per cup Sales $4.00 $3.00 $3.00 Direct costs $0.28 $0.28 $0.28 $3.72 $2.72 $2.72 Fixed Costs Per Month $60,100.00 $34,500.00 $11,500.00 BEP (CUPS PER MONTH) 16,153.94 12,681.70 4,227.23 BEP (CUPS PER DAY) 538.46 422.72 140.91 Solution => Go for Kiosks
  • 10. Marketing “Tea Pots” in the mall (i.e. bud light girls) •Facebook Group •Tea samples •Location (high traffic zones, near an apple store) •Flash mob
  • 11. Plan for today • Interview customers Test our Kiosks ideas with the customers • Interview Shopping Mall property managers Test our Kiosks ideas with key partners
  • 12. How will we Get, Keep and Grow Customers? • Consistent quality • Increase product variety • loyalty program tea card • word-of-mouth from students (campuses) • Tea cart promotion via Facebook or Tweeter • Tea tasting event to collect customer feedback (via iPad) Kadak – 04/16/2012 Who are our most important customers? • repeat customers, Asian- immigrants consumers • health conscious customers What are their archetypes? • The Indian • The rising teen • Healthy parents • Undergrads • Baby-boomers What Job do they want us to get done for them? • make the tea (incl. picking the best ingredients) • education of tea What Key Activities do we require? • Purchasing raw material • Brewing tea • Setting up retail outlets • Advertising, & marketing • Setting up customer feedback channel and analysis • Business development with campuses • Product mix creation • FP&A management • Hiring Which of our customer’s problems are we helping to solve? • consumer have limited access to authentic Asian tea in a retail format Which customer needs are we satisfying? • Desire to consume authentic Asian tea outside home What are the Key Features of our product that match customers problem/need? • taste of our tea (quality) • the availability of tailored flavor • speed of delivery • convenience Who are our Key Partners? • Indian stores and Asian stores • Eventually tea makers • Indirect distribution through -- subway, panda express Who are our key suppliers? • Indian store from NJ • Chinese stores from Chinatown • Grocery stores such as Wal-mart • Restaurant utensils/hardware suppliers What are we getting from them? Giving them? • Milk, sugar, Splenda, tea leaves, cups, spices, pots/pans • MONEY, more revenue What are the most important costs inherent in our business model? Fixed • Rent • Equipment, furniture and fixtures Variable • Raw materials & supplies • Employee salaries How do we make money? What’s the revenue model? Pricing tactics? • Low Intro promotion price to attract customers($1.99) • Keep the price close to Starbucks thereafter • Never price below breakeven even during promotion period • Find ways to give them discounts (survey --- buzz discounts) Through which Channels do our Customer Segments want to be reached? • direct retail • direct-to-home delivery What Key Resources we require? • Money • Retail outlets • POS system to track sales • SAP system for accounting • License from NY / Campus approval • HR for hiring & training • Tea brewing equipment
  • 13. How will we Get, Keep and Grow Customers? • Consistent quality • Increase product variety • loyalty program tea card • word-of-mouth from students (campuses) • Tea cart promotion via Facebook or Tweeter • Tea tasting event to collect customer feedback (via iPad) Kadak – 04/17/2012 (morning) Who are our most important customers?  repeat customers, Asian-immigrants consumers • health conscious customers What are their archetypes? •  The Indian • The rising teen • Healthy parents •  Undergrads •  Baby-boomers What Job do they want us to get done for them? •  make the tea (incl. picking the best ingredients) •  education of tea What Key Activities do we require? • Purchasing raw material • Brewing tea • Setting up retail outlets • Advertising, & marketing • Setting up customer feedback channel and analysis • Business development with campuses • Product mix creation • FP&A management • Hiring Which of our customer’s problems are we helping to solve? • consumer have limited access to authentic Asian tea in a retail format Which customer needs are we satisfying? • X Desire to consume authentic Asian tea outside home What are the Key Features of our product that match customers problem/need? •  taste of our tea (quality) •  the availability of tailored flavor • speed of delivery • convenience Who are our Key Partners? • Indian stores and Asian stores • Eventually tea makers • Indirect distribution through -- subway, panda express Who are our key suppliers? • Indian store from NJ • Chinese stores from Chinatown • Grocery stores such as Wal-mart • Restaurant utensils/hardware suppliers What are we getting from them? Giving them? • Milk, sugar, Splenda, tea leaves, cups, spices, pots/pans • MONEY, more revenue What are the most important costs inherent in our business model? Fixed • Rent • Equipment, furniture and fixtures Variable • Raw materials & supplies • Employee salaries How do we make money? What’s the revenue model? Pricing tactics? • Low Intro promotion price to attract customers($1.99) • Keep the price close to Starbucks thereafter • Never price below breakeven even during promotion period • Find ways to give them discounts (survey --- buzz discounts) Through which Channels do our Customer Segments want to be reached?  direct retail/franchise model • direct-to-home delivery What Key Resources we require? • Money • Retail outlets • POS system to track sales • SAP system for accounting • License from NY / Campus approval • HR for hiring & training • Tea brewing equipment
  • 14. How will we Get, Keep and Grow Customers? • Unique, customized tea, their way • Consistent quality • Increase product variety • loyalty program TEA I.D. • word-of-mouth from students (campuses) • Tea tasting event to collect customer feedback (via iPad) Tea Lab – 04/17/2012 (afternoon) Who are our most important customers? • repeat customers • health conscious customers • Customers looking for a fun new experience What are their archetypes? • The Indian • The rising teen • Healthy parents • Undergrads • Baby-boomers What Job do they want us to get done for them? • Custom tea their way! • Fun/unique ingredients • make the tea (incl. picking the best ingredients) • education of tea • cool place to hang out What Key Activities do we require? • Purchasing raw material • Brewing tea • Setting up retail outlets • Advertising, & marketing • Setting up customer feedback channel and analysis • Business development with campuses • Product mix creation • FP&A management • Hiring Which of our customer’s problems are we helping to solve? • consumer don’t have access to quality tea outside the home • Formula/proportions are off Which customer needs are we satisfying? • Tea the “way I like it” outside the home • Tea w/out tea bags • Cool experience / social setting for tea What are the Key Features of our product that match customers problem/need? • taste of our tea (quality) • the availability of tailored flavor • speed of delivery • Convenience • Experience Who are our Key Partners? • Indian stores and Asian stores • Eventually tea makers • Indirect distribution through -- subway, panda express Who are our key suppliers? • Indian store from NJ • Chinese stores from Chinatown • Grocery stores such as Wal-mart • Restaurant utensils/hardware suppliers What are we getting from them? Giving them? • Milk, sugar, Splenda, tea leaves, cups, spices, pots/pans • MONEY, more revenue What are the most important costs inherent in our business model? Fixed • Rent • Equipment, furniture and fixtures Variable • Raw materials & supplies • Employee salaries How do we make money? What’s the revenue model? Pricing tactics? • Online sales for home consumption • Data – based on the TEA ID card! • Keep the price close to Starbucks thereafter • Never price below breakeven even during promotion period • Find ways to give them discounts (survey --- buzz discounts) Through which Channels do our Customer Segments want to be reached? • Teal lab stores • direct-to-home delivery • Online What Key Resources we require? • Money • Retail outlets • POS system to track sales • SAP system for accounting • License from NY / Campus approval • HR for hiring & training • Tea brewing equipment
  • 15. PULZE Your Organization’s PULZE Vladimir Baranov, Jitender Chopra, Riyaz Habibbhai, F. Lane Harwell, Daniello Natoli Interviews: 11 April 19th, 2012 PULZE ORGANIZE, ANALYZE, AND COMMUNICATE
  • 16. PULZE Hypotheses and Initiatives Hypothesis  HR consultants are a potential sales channel Initiatives  Pricing Initiatives  24 / 7: Design pre-survey, Analyze post-survey
  • 17. PULZE Hypotheses: HR Consultants are a Potential Channel Findings Competitors Exception  HR Consulting firms have in house technology departments  They see survey software as a way to sell consulting services  Would not partner – see Pulze as competition  Kenexa: (KNXA) Mkt. Cap.: $860MM  Taleo: purchased by ORCL for $1.9B, 2/9/12  Hewitt (HEW); MMC (Mercer)  SAP: purchased SuccessFactors (SFSF) for $3.4B  Possibly Leadership Consultants, given focus
  • 18. PULZE Initiatives: Pricing and Update Value Prop Pricing Value Prop Additional Segment?  HR Consulting firms charge $5K - $15K for a survey targetting 300 – 500 users  SurveyMonkey works for random surveys – not good for employee engagement  Customers WTP between $1000 - $5000 per annum  Customers love the idea of DIY survey software with extensive templates  Anonymity and Detailed Data Analysis is Key  Would prefer value added service to call HR specialists for pre-survey setup and post-survey analysis  25 – 100 Employee company with the same needs as above Additional Channel?  Enterprise Social platforms Jive, Yammer
  • 19. PULZE Survey Monkey $500 per year $ per Survey/Analysis Price and Value Position PULZE $500 - $3,500 HR Consultancies ~$5,000 - $15, 000 (per survey) PERCEIVEDVALUE Raw Data / Little Analysis “DIY” Data and Analysis Benchmarking Templates with response validation Customization Access to Domain Specific Solutions Legal and Regulatory Checks ORGANIZE, ANALYZE, AND COMMUNICATE “Hand Holding” Data and Analysis Benchmarking Templates Customization Access to Domain Specific Solutions Legal and Regulatory Checks
  • 20. PULZE
  • 21. PULZE Team Pulze 500 < Enterprises < 2000 Bottom-Up employee engagement Software vendors One time service fee Sales force Key Account management Provide employees ownership in business strategy Low cost solution to interim surveys Middle Management of larger corporations Semi customized service based on needs Subscription service Enterprise social platforms Partners Cloud service Data warehousing Suppliers 3rd party analytics R&D Marketing and Manage the platform Lead gen Recruitment Software developers HR talent Research experts Payroll marketing Fixed Sales Customer acq. Talent acq. Variable Website
  • 22. PULZE Team Pulze Manager of a company, division or unit with 100- 3000 employees, w/minimal HR support Bottom-Up employee engagement Software vendors One time service fee Key Account management Provide employees ownership in business strategy Low cost solution to interim surveys SEO Subscription service Enterprise social platforms Partners Cloud service Data warehousing Suppliers 3rd party analytics R&D Marketing and Manage the platform Software developers HR talent Research experts Payroll marketing Fixed Sales Customer acq. Talent acq. Variable Website HR Consultants Analysis Benchmarked Data Templates Semi- customization Sales force Gamification – to increase particip Recruitment Lead gen >Survey Monkey < Consultants Fee to HR US Legal Legal Counsel
  • 23. PULZE Team Pulze Manager of a company, division or unit with 100- 3000 employees, w/minimal HR support Bottom-Up employee engagement Software vendors Number of Employees $500 < N < $5K Key Account management Provide employees ownership in business strategy Low cost solution to employee surveys SEO Subscription service $1 – 5K Enterprise social platforms Partners Cloud service Data warehousing Suppliers 3rd party analytics R&D Marketing and Manage the platform Software developers HR talent Research experts Payroll marketing Fixed Sales Customer acq. Talent acq. Variable Website HR Consultants Templates Analysis Benchmarked Data Gamification Ethical and Legal Customization Legal Counsel Fee to HR 24/7 Value Added Consultants for Pre/Post Survey Linked-In Social Media
  • 25. PULZE Market Size Business Units 100-499 90,386 500-749 6,060 750-999 3,038 1000-1499 3,044 1500-1999 1,533 2000-2499 904 2500+ 46,525 TAM 151,490 TAM: 151,490 SAM: 136,384 TM: 34,085 Source: US Census,2008 SAM estimate was derived by using broadband business usage ratio. OECD
  • 26. DEN: DIGITAL EXCHANGE NETWORK The platform for exchanging high value favors and services. 22 INTERVIEWS WEDNESDAY 65 TOTAL OVER 3 DAYS Dave Spezzano, Alexey Okhlopkov, Amy Villari, Steve Alperin, Dmitri Dyakin
  • 27. what we learned yesterday hypothesis PEOPLE ARE WILLING TO PAY CASH FOR FAVORS PEOPLE ARE WILLING TO ACCEPT CASH FOR FAVORS PEOPLE ARE WILLING TO TRADE FAVORS PEOPLE WANT TO USE ANOTHER EXCHANGE CURRENCY THERE IS A VALUE / BENEFIT TO THE FAVOR DOER result MAYBE MAYBE MAYBE MAYBE CORRECT comments High-value & WTP, maybe not cash Behavior change Compliance issues Low expectation of quid pro quo Tested philanthropy as exchange currency Need to test further
  • 28. more learning hypothesis PEOPLE RECEIVE/PERFORM FAVORS FOR DIRECT NETWORK CONTACTS DITTO FOR SECOND-DEGREE CONTACTS WE CAN SCALE A NETWORK WITHOUT LOSING TRUST WTP TO JOIN ONLINE NETWORK TO ACCESS VALUABLE CONTACTS NEED/MARKET FOR FAVOR NETWORK IN RUSSIA, CHINA result CORRECT CORRECT MAYBE CORRECT CORRECT comments OFTEN Most see this is where the REAL benefit is Piggybacking existing networks like Linkedin Obvious Huge market potential in China, but may need proof of concept first
  • 29. Key Learning: WHY WOULD SOMEONE USE THIS SYSTEM TO DO FAVORS? • reduce time spent doing favors • prioritize response order and time to favor requesters / receivers • INCREASE LIKELIHOOD OF PAYBACK • Second-degree connections more than first- degree contacts Key Learning: who pays for favors
  • 30. CANVAS 1.1 People who need high quality information and services and have trouble finding it. Business builders, salesmen, anyone who has ever looked for a connection once removed from their closest circle --Reduce the friction to finding info, help me get value from what I do for others and what I know. Seeding the high level community, Software development, business development, --People have trouble finding expert, reliable, verified information. --People spend huge amounts of time displaying expertise with no tangible benefit --A marketplace to match buyers and sellers --Simple easy way to aggregate postings about expertise --Scoring/ranking for reliability. ? Alumni groups, Networking groups, (build to suit..potential white label sevice) Outsourced engineering teams, We get paid to increase bonds between members ,make crucial offline activity more efficient. Allow monetization of expertise. Scalable marketplace business. MVP engineering/hosting/design costs are fixed. Feature set build are variable..build to spec for partners? --Free to join and use– then transaction fee, listing fee, fee for top tier circles --Velvet rope, leaky door policy --Affinity groups Goodwill, Brand, User Propagation Tap communities already transacting offline or chaotically
  • 31. CANVAS 1.2 CHANGES IN RED --PEOPLE WHO NEED ACCESS & FAVORS FOR BUSINESS OR PERSONAL USE --PEOPLE WHO PROMOTE THEIR BUSINESS THROUGH CONTENT --PEOPLE WHO WANT TO STENGTHEN TIES WITH CONNECTIONS Seeding the high level community, Software development, business development, -- HELP PEOPLE EXCHANGE ACCESS & FAVORS THAT ARE IMPORTANT. --Help people get more benefit from their digital marketing content --A marketplace to match buyers and sellers --HELP PEOPLE BUILD TRUSTED CONNECTIONS ? Alumni groups, Networking groups, (build to suit..potential white label sevice) Outsourced engineering teams, We get paid to increase bonds between members ,make crucial offline activity more efficient. Allow monetization of expertise. Scalable marketplace business. MVP engineering/hosting/design costs are fixed. Feature set build are variable..build to spec for partners? --POINT SYSTEM TO EXCHANGE VALUE & GOODWILL --Free to join and use– then transaction fee, listing fee, fee for top tier circles --Velvet rope, leaky door policy --Affinity groups --Goodwill, --HIGH LEVEL ACCESS Tap communities already transacting offline or chaotically
  • 32. CANVAS 1.3 CHANGES IN RED --PEOPLE WHO NEED AND PROVIDE ACCESS & FAVORS FOR BUSINESS OR PERSONAL USE --PEOPLE WHO PROMOTE THEIR BUSINESS THROUGH CONTENT --PEOPLE WHO WANT TO STENGTHEN TIES WITH CONNECTIONS Seeding the high level community, Software development, business development, - --IMPROVED WAY TO BUILD TRUST & VERIFICATION --DISCOVERY & VALIDATION OF 2nd DEGREE CONNECTIONS --SAFE ENVIROMENT FOR PERSONAL EXCHANGE --HELP PEOPLE EXCHANGE ACCESS & FAVORS THAT ARE IMPORTANT. ? Alumni groups, Networking groups, (build to suit..potential white label sevice) Outsourced engineering teams, We get paid to increase bonds between members ,make crucial offline activity more efficient. Allow monetization of expertise. --LINKEDIN, FACEBOOK, OTHER NETWORKS (UNLESS WE SCALE OURSELVES) Scalable marketplace business. MVP engineering/hosting/design costs are fixed. Feature set build are variable..build to spec for partners? --TIP JAR / PAY-WHAT-YOU-WANT --FEE FOR GIFTING AS THANK YOU --POINT SYSTEM TO EXCHANGE GOODWILL FOR $$ --PREMIUM ADVERTISING (MAYBE – HARD MODEL) --transaction fee, listing fee, fee for top tier circles --Velvet rope, leaky door policy --Affinity groups --Goodwill, --HIGH LEVEL ACCESS --WELL CONNECTED PEOPLE Tap communities already transacting offline or chaotically
  • 33. WE NARROWED OUR ARCHETYPE
  • 34. WHAT’S A FAVOR?….. • High value • Would require the receiver to go through extraneous effort to achieve without the doer • Allows access to otherwise inaccessible areas of life …..but how do we differentiate ourselves……? ELEGANT WAY TO SCORE AND RANK TRUST
  • 36. Today LAY A PRODUCT OVER OUR CUSTOMER NEEDS & ECOSYSTEM MORE DATA ON REVISED VALUE PROPISTIONS TEST POTENTIAL REVENUE MODELS
  • 37. Advanced Entrepreneurship Day 4 April 19, 2012 Team Brian Vogt Doug Carlson Mohamed Maimouni AG Crum Gabriel Giles Sameer Kotak 6 additional interviews Total interviewed: 42 end-users 3 brand managers 1 channel expert 1 shoe manufacturer 1 shoe startup founder 1 dermatologist X online survey responses Technology for medical and comfort problems of the feet
  • 38. Problem is recognized; they have a workaround Interviews Hypothesis Experiment Results Pending People may have discomfort but won’t admit it Interviews Unclear. Additional experiments required (survey). Appealing product for tech lovers Interviews Confirmed. Eyes lit up. What Have We Learned?
  • 39. Channel Analysis Channel Strategy License technology • License the technology to shoe brands to do all manufacturing themselves Unbranded component sales • Sell prebuilt soles with embedded components to shoe brands for assembly Branded component sales • Sell branded prebuilt soles with embedded components. Think “Vibram” soles in boots. Own brand of complete shoes • Create own brand, sell through online retailers
  • 40. Channel Analysis Switching Costs Recurring Revenue Earn Before You Pay Game Changing Cost Structure Others Do The Work Scaleability Protection License technology ✔ ✔ ✔ Unbranded component sales ✔ Branded component sales ✔ Own brand of complete shoes ✔
  • 41. Channel Analysis Channel Strategy Conclusions X License technology • Major brands unwilling to work with technology directly X Unbranded component sales • Unit economics don’t work X Branded component sales • Unit economics don’t work ✔ Own brand sold through online retailers • Economically viable
  • 42. Channel Analysis Growth Strategy Phase 1 – Create brand for the Active Seekers segment • Sell through medical supply companies • Value price to capture higher Willingness To Pay • Get commitments and funding on Kickstart from severe sufferers • Use this to work out manufacturing and operational kinks Phase 2 – Launch consumer branded shoe for General Comfort segment • Sell initially through Zappos • Leverage their logistics capabilities Phase 3 – Expand in the General Comfort segment • Other online retailers • Airport kiosks • Retail locations • Possible branded component sales Phase 4 – Expand to the Tech Lovers segment • Sell online • Sell through Sharper Image, Brookstone, etc.
  • 43. Day 3 Canvas Active Seekers (1) Sought med Activities? Customer input, IP filings, beta development, , suppliers Partners? Shoe mfg, manufacturing Inherent in our model? Variable material, mfg overhead Making money & pricing model? $40 mfg’ed, 80 soles, 200 shoes, 400 retail 400 retail 250 retail Resources? Development partner, seed funding TVM Tech Get, keep, grow? End-users: PR, branded captivity Partners: Convince of unique value for end-users Passive Sufferers (2) UnSought med Tech Lovers 3) Tech ‘comfort’ •Mitigate hyperhidrosis •Low effort solution •Foot comfort •Discreteness •Cool factor •Foot comfort •Medical catalogs •Referrals ? Established partner retail outlets Suppliers? Component mfg.'s, Ventiva Getting? Technology, manufacturing Giving? Differentiation and price
  • 44. Day 4 Canvas Active Seekers (1) Sought med Activities? Customer input, IP filings, beta development, , suppliers Partners? Shoe mfg, manufacturing Inherent in our model? Product development, variable costs, online retail, kiosks, SG&A Making money & pricing model? $40 mfg’ed, 80 soles, 200 shoes, 400 retail 400 retail $250 retail Resources? Development partner, seed funding TVM Tech Get, keep, grow? End-users: PR, branded captivity Partners: Convince of unique value for end-users General Comfort (2) UnSought med Tech Lovers 3) Tech ‘comfort’ •Mitigate hyperhidrosis •Low effort solution •Foot comfort •Discreteness •Cool factor •Foot comfort •Medical catalogs •Referrals Online Retail, Kiosks Established partner retail outlets Suppliers? Component mfg.'s, Ventiva Getting? Technology, manufacturing Giving? Differentiation and price
  • 45. Jiae.com: Interest based platform for creative minds in China Team: Deymon Chen, Yu Guo(Hugh), Mathias Rosenthal, James Hagen 23 Interviews + ??? Surveys 2012.04.18 - Day 4 Do we have MVP website ??? Online When ???
  • 46. Jiae.com: Interest based platform for creative minds in China Team: Deymon Chen, Yu Guo(Hugh), Mathias Rosenthal, James Hagen 23 Interviews + 410 Surveys 2012.04.18 - Day 4 Do we have MVP website Yes!!! Online When Few Hours Before!!!
  • 48. Survey 1: Top Designer Social Site China Top SNS site less than 15% Top Design site (web 1.0) less than 33% Proved: No Leader in Designer Social site, We have a Chance! weibo.com zcool.com douban.com chinavisual.com Tumblr clone ($10M funding) less than 5%diandian.com other sites Other Design sites less than 9% blueideas.com visualunion.com abbs.com.cn.com
  • 49. Survey 2: Top Features for Designer Social Site Top 2: Rich/Fresh Content 44% Proved Imaged Based 1-Click Reblog Rich and Fresh Content Tailored Content Original Content Design Content Jobs and Projects Portfolio Showcase Meet Designers Tips and Resources Others Top 3: Image Based 39.4% - Proved Top 1: Expert Feedback 47% - Proved Looking for Jobs and Projects is low, Surpris Reblog only 9.1% - Surprised
  • 52. •Photo based nice and clean SNS platform •More Traffic •Easy to Share •Statistics Tool •Platform Management •Customer Acquisition •Expanding Reach •Platform •Customer Base •Brand Platform Costs Customer Acquisition Costs Marketing and Sales Costs Advertising, Sponsorships, Deign Services Click Per Sales , Design Marketplace •1:1 Customer Support •China Photo Related sites •China SNS Sites - weibo, renren, qq, douban •Fashion Bloggers •Find, organized and share inspiration Ideas effectively •Find jobs/projects •Showcase portfolios for feedback， big Space •Target Ad Space •Find Good Designers •Promotion Opportunity •Sales Channels •Design Marketplaces •Designers Companies • Advertising • Sponsorship • Design Services • Click Per Sales •D-School Ambassador •1300 Design Schools •Design Message Boards •Jiae.com Freemium Free Interest Based SNS Platform Day 3 Business Canvas for Jiae •End Users Consumers •Fashion Medias •Design School •Government •Design Associations •Traffic Partners •Online B2C Partners
  • 53. •Image based nice and clean SNS platform •More Traffic •Easy to Share •Statistics Tool •Platform Management •Customer Acquisition •Expanding Reach •Platform •Customer Base •Brand Platform Costs Customer Acquisition Costs Marketing and Sales Costs Advertising, Sponsorships, Deign Services Click Per Sales , Design Marketplace •1:1 Customer Support •China Photo Related sites •China SNS Sites - zcool, weibo, renren, qq, douban •Fashion Bloggers •Find, organized and share inspiration Ideas effectively Rich/Fresh Content •Find jobs/projects Image Based Content •Showcase portfolios for Expert Feedback big Space •Target Ad Space •Find Good Designers •Promotion Opportunity •Sales Channels •Design Marketplaces •Designers Companies • Advertising • Sponsorship • Design Services • Click Per Sales •D-School Ambassador •1300 Design Schools •Design Message Boards •Jiae.com Freemium Free Interest Based SNS Platform Day 4 Business Canvas for Jiae •End Users Consumers •Fashion Medias •Design School •Government •Design Associations •Traffic Partners •Online B2C Partners
  • 54. FidélEatRestaurant Reservation Loyalty 3 Restaurateur Interviews 20 Consumer Interviews 23 Total Robert Montrone EMBA ’12 Consultant / TV Producer ABC Television Jaidev Rao EMBA ’12 Management Consulting Rothstein Kass Abhishek Sheetal EMBA ’12 Tech Marketing / Strategy LeCroy Corporation William Cooke EMBA ’12 Strategy & Financial Planning Blue Sky Solar Sarah Brown EMBA ’12 Consulting Neuberger Berman Dennis Kwon MBA ’11 Engineer / Tech Entrepreneurship Lala.com
  • 55. Table Compass Archetypes? People who plan Price conscious Foodies Key Activities • Platform design and development • Business development, partnerships and marketing • Difficulty making reservations • Price • End Customers: Discounted bookings, secured reservations, restaurant comparisons • Discounted pricing • Restaurant discovery Key Partners Restaurant owners Key Suppliers Possibly Open Table What are we getting from them? Reservation Service Giving them? Restaurant traffic What are the most important costs inherent in our business model? Fixed Cost: Building the website Variable: Marketing, sales people, advertising Listing fees, percentage of restaurant fee, restaurant flat fee, first year free, etc. Through which Channels do our Customer Segments want to be reached? • Restaurants: face to face meetings • End Customers: Word of mouth marketing, online, direct email Key Resources • Designers, Engineers • Business development, Sales • Money How will we Get, Keep and Grow Customers? Retention plan: points system, Groupon, promotional item, value add free meal, etc. (Pass, Fail, Unclear) • Medium-low end restaurants • Medium-high end restaurants that take reservations . Revenue Management . Working capital . Filling Seats Day Before
  • 56. Hypothesis Restaurants have empty seats Restaurants will give out discounts Working Capital is an issue Test Survey 4 managers Survey 4 managers Survey 4 Managers Results High end restaurants do not have empty seats N/A N/A High End Restaurant Interviews ($100+plate)
  • 57. Hypothesis Restaurants have empty seats Restaurants will give out discounts Working Capital is an issue Test Survey 9 managers Survey 9 managers Survey 9 Managers Results Very concerned about empty seats Discount customers visit only once to take advantage of the offer Yes restaurants are very concerned about WIP. Unhappy with Opentable Mid Range Restaurant Interviews ($40+ plate)
  • 58. Hypothesis People are willing to prepay for discount an advanced reservation The prepayment advance booking discount does not lower the value of the restaurant 30% discount will make people shift their decisions around – time/day Test Survey 52 people Survey 52 people Survey 52 people Results 75% are willing 17% indicated it would * 8% for under 35 yrs * 26% for over 35 yrs 75% said yes Diner Interviews
  • 59. Hypothesis Finding loyal customers is a problem for restaurants Restaurant owners want to build a relationship / know more about their customers (data) Restaurant owners willing to offer an expiring credit to loyal customers Test Survey 21 restaurants Survey 21 restaurants Survey 21 restaurants Results Place high value on returning customers Looking for a system to sync data with reservations Restaurants unhappy with “discount” customers Willing to offer promotions to returning customers Restaurant Interviews (mid-high end)
  • 60. Hypothesis Users would go back to the same restaurant for an expiring 20-30% loyalty discount Users eat out 2-3 times per week Users would not mind that their credit expires Test Survey 20 People Survey 20 People Survey 20 People Results 100% are willing 100% 60% would prefer to have more time to use the credit Diner Interviews
  • 62. Table Compass Younger Trendy Key Activities • Platform design and development • Business development, partnerships and marketing • Price • Discounted bookings, secured reservations, restaurant comparisons • Discounted pricing • Restaurant discovery Key Partners Restaurant owners Key Suppliers Possibly Open Table What are we getting from them? Reservation Service Giving them? Restaurant traffic What are the most important costs inherent in our business model? Fixed Cost: Building the website Variable: Marketing, sales people, advertising Options: listing fees, percentage of restaurant fee, restaurant flat fee, first year free, etc. Through which Channels do our Customer Segments want to be reached? • Restaurants: face to face meetings • End Customers: Word of mouth marketing, online, direct email Key Resources • Designers, Engineers • Business development, Sales • Money How will we Get, Keep and Grow Customers? Retention plan: points system, Groupon, promotional item, value add free meal, etc. (Pass, Fail, Unclear) • Medium-low end restaurants • Medium-high end restaurants that take reservations . Revenue Management . Working capital . Filling Seats Yesterday
  • 63. FidélEat Younger Trendy Young families • Platform design and development • Business development • Partnerships and marketing Price Discounted bookings, secured reservations, restaurant comparisons Discounted pricing - Discount rewards for loyalty - Promotional Credits Key Partners Restaurant owners Key Suppliers Possibly Open Table What are we getting from them? Reservation Service Giving them? REPEAT Restaurant traffic What are the most important costs inherent in our business model? Fixed Cost: Building the website Variable: Marketing, sales people, advertising Options: listing fees, percentage of restaurant fee, restaurant flat fee, first year free, etc. Monthly Subscription Fee, Tiered subscriptions Through which Channels do our Customer Segments want to be reached? • Restaurants: face to face meetings • End Customers: Word of mouth marketing, online, direct email, NY Times • Designers • Engineers • Business Development • Sales • Money How will we Get, Keep and Grow Customers? Retention plan: points system, Groupon, promotional item, value add free meal, etc. Expiring Promotional Credits (EPCs) (Pass, Fail, Unclear) - Medium-low end restaurants - Medium-high end restaurants that take reservations - Revenue Management - Working capital Filling Seats - Repeat Business - Fill seats during slow periods Today Monthly Subscription Fee, Monthly/Quarterly customer data service
  • 64. 13 New (45 Total) Interviews Thomas Jonathan Melissa Nina Tim Vladimir Thursday – Day 4 Diagnose your health from anywhere
  • 66. Using an RMVP to Get $$$ Out of Wallet
  • 67. 67 DIAGNOSLY - Today • Provider engagement • Device mfg relationships • R&D • Customer support • Convenience of time and place • Reduced cost for uninsured or high deductible plan subscribers • Diagnostic and monitoring device OEMs • Insurance networks • Independent sales reps • People (R&D) • Customer acquisition • Regulatory & Liability • Testing fees (per test/kit) • Online • Independent sales reps • Physicians / Clinics • Engineers and designers • Legal/Regulatory Knowledge (IP, FDA, HIPPA, etc) • Reduced cost and increased quality of software • Lower costs due to reduced visits, less fraud and consistent, comprehensive data Consumers Families (primarily subsequent mothers) in the fertility testing, pregnancy, and early childhood phase Device Makers Small to medium makers of at-home monitors and diagnostic devices Payers Insurance, Medicare, Medicaid Providers General Practitioners, Midwives, Nurses, Office Manager, Specialists (Pediatricians, OB/GYNs, vets etc)• Improved patient outcomes • Earn more money via focus on higher value procedures Automated, Optional 24x7 Support Automated, Optional SDK Support Indirect, trusted supplier Livestock Managers Cattle ranchers, horse farmers Drug Developers Big Pharma, Biotechs
  • 68. 68 • 15% Commission DIAGNOSLY - Today • Provider engagement • Device mfg relationships • R&D • Customer support • Payer Approval Process • Convenience of time and place • Reduced cost for uninsured or high deductible plan subscribers • Diagnostic and monitoring device OEMs • Insurance networks • Independent sales reps • Healthcare Professional Staffed Remote Centers • People (R&D) • Regulatory & Liability • Customer acquisition • Testing fees (per test/kit) • Engineers and designers • Legal/Regulatory Knowledge (IP, FDA, HIPPA, etc) • Reduced cost and increased quality of software • Lower costs due to reduced visits, less fraud and consistent, comprehensive data Consumers Families (primarily subsequent mothers) in the pregnancy and early childhood phase + traveling families Device Makers Small/med, at-home monitors and diagnostic devices Payers Insurance, Medicare, Medicaid Providers General Practitioners, Midwives, Nurses, Office Manager, Specialists (Pediatricians, OB/GYNs, vets etc) • Improved patient outcomes • Earn more money via focus on higher value procedures Automated, Optional 24x7 Support Automated, Optional SDK Support Indirect, trusted supplier Corporate • Physician / Clinics • Online • Independent Sales Reps • Free Beyond Provider Acquisition • Pay Per Click $$$ • Testing fees (per test/kit) • Subscription
  • 69. CONFIDENTIAL 69 Laboratory Testing Services (3rd Party) • Analysis of raw diagnostic data • Illness and disease detection • DNA analysis • Risk assessment Diagnosly Ecosystem Patients Online Health Services (3rd Party) • Electronic Health Records (EHR) • Health Service Provider Network • Billing and Insurance • Appointment scheduling • Pharmacy • Virtual appointments DIAGNOSLY PLATFORM Cloud & Data Services Phone, Tablet, and Web Applications Admin & Reporting Dashboard: • Monitoring and diagnostic history • Aggregated lab results • Alerts and reminders • Advanced data analytics • Analysis of treatment efficacy • Personalized health content and service recommendations Medical Devices (OEMs) Primary Physicians Researchers Payers Patient Data Captured: • Raw data from blood, urine, saliva samples • Raw data from sensors • Symptom descriptions and pictures • Demographic data • Location • Health History Pharmacy Remote MD/Nurseline
  • 70. 70 Interviews • Would like to have a service to generate the script because they could check it with the pharmacist • I love using technology to better organize our life and I would absolutely pay to use an application that tracked our kids test records, etc. • Need a partnership with a 3rd party healthcare specialist call center • Premature babies is $62B annual expense in the US (500k / baby), one opportunity may be monitoring at risk mothers to reduce occurrence • None of the mothers we spoke to were aware that many of these at home tests existed • Investigating pregnancy monitoring devices for at risk mothers SAYING NEW INSIGHTS DOING CONCLUSIONS
  • 71. 71 Personas Aurora, 38: trying to start a family Heather, 36: 3rd time expectant mom Elena, 32: Mom of premature baby • 2 Masters (Accounting, Nutrition) • Stay at home mom (2 kids) • Organic food in fridge • Buys in bulk • Tracks expenses via spreadsheet • She and son take weekly asthma tests • High-deductible plan • Loves free apps (photo sharing, games etc) • Full-time writer/editor on maternity leave • Self-described “worrier” • Used iPhone apps during pregnancy (e.g. ‘til baby, kickcounter) • Uses Snuza baby movement monitor, and iPhone baby monitor to track baby • Humidifies and purifies air • Hand sanitizers in every room • Splurges on preemie clothes • Owns her own PR firm • Trying Pergonal, preparing for IVF (after Clomid didn’t work) • Tracks basal body temperature via spreadsheet • Uses an ovulation microscope and ovulation test strips daily • Uses Woman Calendar, Ovulator (fertility iPhone apps) • DailyStrength and RESOLVE member (fertility support groups)
  • 72. 72 • Sees 50 patients/day (mostly checkups, coughs, rashes) • Lots of panicked phonecalls from new parents • Talks to 15 patients per day via phone (bills for 60% of these) • Hates paperwork • Thinking of moving to a cash- only business • Gets paid for data analysis • Member of doctors-without- borders Personas Dev: Device Developer Dr. Robbins: Pediatrician Mike: Payer Account Manager • Specialist in anemia measurements • Using open protocols (eg RS232) • Would love a way to integrate his system with others’ • Frustrated with open source platforms (e.g. SanaMobile) and fragmented apps space • Not familiar with heart rate monitors, thermometers, etc • 8 years experience • Working on MPH part-time (studying telemedicine in developing world) • Uses HealthConnect to prepare quotes for clients • Coordinates renewal and open enrollment meetings • Leads smoking cessation initiative • Dual Dutch/US citizen
  • 73. 73 Adword Campaign • Went Live this morning • Will share results tomorrow
  • 74. 74 At home uterine monitoring for high-risk pregnancies http://www.ecommunity.com/homehealth/index.aspx?pg =10797 http://www.fetalmonitorstrips.com/learn_more.html
  • 75. 75 Today’s Tasks  Request for Class – Connections at insurance companies; preferably involved with payment structures.  Channel - Interviews - Price / Configuration Adwords Analysis  Acquisition Cost / Timeframe - Pay for Click Conversion Adwords Analysis - Flow diagram and time estimates for physician sales and insurance co approvals  Further Review of Revenue Model - Interviews & Research
  • 76. jerry sanders Group 14 76 [Social Crowd] An online platform helping local communities to thrive 4/16: 12 interviews (5 Investors; 7 Businesses) 4/17: 15 interviews (3 Investors; 12 Businesses) 4/18: 3 interviews (3 Community Groups) Total: 30 interviews
  • 77. jerry sanders Group 14 77 Yesterday One-off: - Platform design Ongoing: - Screening - Marketing - IT maint. & support - New market ID An online ‘matchmaking’ forum where F&G connect. - Independent business organizations - COMMUNITY INTEREST ORGS - Community funding institutions - Local business school alumni - Personal connections - Local business activists Value-driven: Most important costs include: - Web platform development - IT management & technical support - Marketing & customer acquisition - Application review costs (experts) Dual revenue structure: - Direct contact through website - Local news & PR channels - Word of mouth - Customer d/base - Proprietary knowledge - Brand copyright - Site skin: look, feel - Semi-automated - Local community- focused Finders: Individuals & groups seeking investment opportunities that provide (i) requisite returns and (ii) a direct benefit to a local community. Grinders: Start-ups and EXISTING locally owned businesses & COMMUNITY GROUPS seeking capital investments of $10K-$2M Finders: Investment efficiency through a screening process that ensures only the top ideas are posted. Grinders: Access to small amounts of capital typically hard to acquire through institutional routes. - Finders Fee (2% of consummated deal value) - Grinders Fee ($250 application review fee)
  • 78. jerry sanders Group 14 78Experiments yesterday [Social Crowd] Test Activities Results Genuine market size Further research to determine the accurate dollar value attributable to our target market CONFIRMED & ONGOING 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 INCONCLUSIVE Importance of local aspect  Surveys & interviews with F&G to determine  Research local investment statistics  Research industry constituents CONFIRMED How to plug (not bridge!) the gap Surveys & interviews to determine LT sustainability of our business model. For instance, the impact of consummating:  a good deal: loyalty to us or the contracting party?  a bad deal: negative splash-back on us? INCONCLUSIVE Interest of Community Groups Surveys & interviews to determine level of interest & involvement (are they partners or customers?) TO BE TESTED Diving deeper…
  • 79. jerry sanders Group 14 79Results yesterday [Social Crowd] • Bifurcated investor customer segment: – Direct local beneficiaries (I like the coffee!) – Indirect local beneficiaries (property values) • Potential additional revenue stream – Share in topline revenue of subject business – Proven model: Bryant Park Corporation • Community board endorsement – Brand – Helps establish barriers to entry We’re STILL learning…
  • 80. jerry sanders Group 14 80 Today j One-off: - Platform design Ongoing: - Screening - Marketing - IT maint. & support - New market ID An online platform helping local communities to thrive‘matchmaking’ forum where F&G connect. - Independent business organizations - Community Groups & Block Associations interest orgs - Community funding institutions - Local business school alumni - Local business activists - Personal connections - Government entities Value-driven: Most important costs include: - Web platform development - IT management & technical support - Marketing & customer acquisition Dual revenue structure: - Direct contact through website - Local news & PR channels - Word of mouth - Customer d/base - Proprietary knowledge - Brand copyright - Site skin: look, feel - Semi-automated - Local community- focused FindersInvestors: Individuals & groups seeking investment opportunities to provide a direct or indirect benefit to a local community. GrindersBusiness es: Existing locally owned businesses seeking capital investments of $10K-$2M FindersInvestors: Investment efficiency through a screening process that ensures only the top ideas are posted. GrindersBusinesses: Access to small amounts of capital typically hard to acquire through institutional routes. Giving residents a way to preserve their neighborhood - Finders Fee (2% of consummated deal value OR top line revenue interest in subject business) - Grinders Application Fee ($250 application review fee)
  • 81. jerry sanders Group 14 81A real world example [Social Crowd] Transaction mechanics [Social Crowd] Screen Betel Bar & Kitchen Existing investor [Social Crowd] Web Platform Commercial Deal 1 2 3 4 5
  • 82. jerry sanders Group 14 82Experiments today [Social Crowd] Test Activities Results Long term viability Surveys & interviews to determine LT sustainability of our business model. For instance, the impact of consummating:  a good deal: loyalty to us or the contracting party?  a bad deal: negative splash-back on us? TO BE TESTED User interface How investors and businesses prefer to interact (privacy etc) TO BE TESTED Markets Attend a community board meeting to further test the genuine market size/need  Streets vs Neighborhoods  Street Ambassadors TO BE TESTED Diving deeper…
  • 83. jerry sanders Group 14 83Market Size* [Social Crowd] Total Addressable Mkt 27,000,000 small businesses in USA Served Available Mkt 954,311 small businesses in NYC (~5% TAM) Target Mkt Assume 1/3 are self-funded & 1/3 are funded by conventional (institutional) facilities *Statistics provided by the US Small Business Administration 27,000,000 954,311 318,104 Number of small businesses
  • 84. jerry sanders Group 14 84 Neighborhood Ecosystem Hospital Closed down West Village Flower Revenues  30% Korean owner  Doesn’t speak English Partner Crime Bookstore v Business   Trying to cope with events, … Economic Environment Do we still help that business? Need some $ for renovation & upgrade Souvenir store Revenues  “Need affluent customers” Record Store Closing down 20Apr12 Leather bag store  Exporting overseas Needs cash to upgrade façade.  Needs to “modernize” Economic Environment Need some $ for renovation & upgrade Needs “support” to “modernize Wine Store manager  Lives in the hood  Would invest for goods in return ($50-100) Rents  New bar opening City/ Local council Doesn’t enforce regulations New bar opening Katherine  Has $$  Doesn’t have time to invest in the hood. New bar opening X Historical Society Yelp Neighborhood communities Chains/ MNCs Property owner  Wants stable/increasing property value Coffee drinker from East Village Enjoys coming to the hood Customer behavior Coffee Shop Needs a new Espresso machine ($10k) Apartment above coffee shop [Social Crowd]
  • 85. jerry sanders Group 14 85 Leather bag store Investor Resident Suggests investments via direct mailing, … New investor Yelp, …. Neighborhood communities Accumulates data on local hood/ business Business needing $$ Consult?? Partner Crime Bookstore What “drives” them? Build database Screen $$ $$ and/or profit sharing “Social Crowd” Existing investor Other Key Partners? Client database Reach out to investors ? Suggest investments? “Social Crowd” Reach out to talk about store/ Auto-creation Inform Web Platform [Social Crowd]
  • 86. Marketing campaigns designed for delivery to cell phones, smart phones and other media devices. Team members: Alex Goncharuk Jorge Melgar Hasan Shahid Broor Spahr van der Hoek Interviews: 2 (21) Restaurants, (16) Customers 2 Medical, 2 Telecom, 1 Channel partner
  • 87. Customer Discovery Phase 1Phase 2 Phase 3 Phase 4 State Hypotheses Restaurants have a marketing problem Customers don’t like to receive random mobile marketing (i.e. SMS, email) Restaurants Customers Test the Problem 2 interviews with owners 14 interviews with customers Test the Solution Web-based mobile marketing tool App that allows them to choose what they receive Verify or Pivot Pivot Verified
  • 88. Restaurant’s Ecosystem - Suppliers - Landlords - Personnel - Owners - Legal - Guide: diners rate quality of restaurants, Zagat charges for content - Online reviewers : receive feedback from customers and sell advertisement to restaurants - Online reservation system: restaurants pay monthly fee for terminal and $1 per reservation - Discounters: sell highly discounted products to end users - Social Media: restaurants advertise directly through this media
  • 89. Restaurant Segments Fine dining - Always full - Dedicated marketer Midlevel prime location - Generally full - Part-time marketer Midlevel neighborhood Low restaurants - No budget Margin 17% Labor 39% Food 25% Others 9% Rent 10% - Income subject to weekly and monthly seasonality - Dependent on loyal customers sales - Low margins don’t allow high discounts - Mixed results from digital marketing - Fear of implementing new technologies
  • 90. Customer Segments Age 20-25 - Price, location, quality - Website Age 26-35 - Quality, decor - Zagat, word of mouth Age 35-45 - Quality - Zagat Age 45+ - Quality, clean - Known restaurants - Interest in receiving opt-in mobile marketing information - Location based restaurant info - Initial interest in getting an app that gives the quality, price and promotions
  • 91. Market Size US 600,000 New York 28,000 Mid Level 8,700 - Mid level restaurant digital marketing budget ~ $750- $1,000 per month - Assuming a 30% market share and a fixed monthly fee of $500 annual revenue is $15.7M - Additional analysis is needed on variable revenue generation methods
  • 92. Mobile Marketing Day 1 Most important customers? Small businesses (or Telecoms, marketing agencies?) What are their archetypes? Companies that would want to use mobile marketing services Job they want us to get done? Deliver msg to end- customer through platform Key Activities do we require? Software development, data analysis Problems solved: - Allow customers to develop and execute mobile marketing campaigns (based on interactive access with end users) Needs satisfied: - Efficient low-cost communication with end consumers Key features? - Simple standardized Web- based software tool allowing use of SMS, QR codes and NFC Who are our Key Partners? Telecoms Who are our key suppliers? Telecoms, search engines What are we getting from them? Giving them? Phone numbers/ short code, advertising Important costs? Fixed? Variable? Software (technology) development, (fixed) marketing/sales (variable) Subscription fee, campaign fee and performance-based fee? Which Channels? Online (trade fairs?) What Key Resources we require? People, IT infrastructure (data center) Get/keep/Grow Customers? Low-cost platform that is effective and quickly shows results (switching costs for telecoms and marketing)
  • 93. Mobile Marketing Day 2 Restaurants want to minimize the dependency on discounters Restaurant want to run local marketing campaign ( 2 mins breakfast , cheap bagel after 11am, …) Key Activities do we require? Marketing Campaign templates, Software development, relationship building - Restaurants to reduce sales fluctuations - Restaurants to engage customers Who are our Key Partners? Online advertisement Who are our key suppliers? Telecoms, search engines What are we getting from them? Giving them? Message delivery services Important costs? Fixed? Variable? Software (technology) development, (fixed) marketing/sales (variable) Fee per marketing campaign, monthly subscription fee Which Channels? Online What Key Resources we require? People, IT infrastructure (data center) Get/keep/Grow Customers? - Low-cost platform - Marketing Campaign Templates - Cheap and an effective way of reaching the customers - Reaching local customer (location based)
  • 94. Mobile Marketing Day 3 Restaurants want to minimize the dependency on discounters Restaurant want to run local marketing campaign ( 2 mins breakfast , cheap bagel after 11am, …) - Mid pricing level restaurants in neighborhood areas Key Activities do we require? Marketing Campaign templates, Software development, relationship building - Restaurants to reduce sales fluctuations - Restaurants to engage customers - Cheap and an effective way of reaching the customers - Reaching local customer (location based) - Increase customers without affecting existing sales Who are our Key Partners? Online advertisement review webpages restaurants Who are our key suppliers? Telecoms, search engines What are we getting from them? Giving them? Message delivery services Quality information Important costs? Fixed? Variable? Software (technology) development, (fixed) marketing/sales (variable) Fee per marketing campaign, monthly subscription fee Fee based on effectiveness Which Channels? Online, app, loyalty programs What Key Resources we require? People, IT infrastructure (data center) Get/keep/Grow Customers? - Low-cost platform - Marketing Campaign Templates - Filter incoming “discount” info - Receive restaurant information (price, quality) if you are in an unknown place - People between 30- 45 years - People in an unknown area Free
  • 95. Mobile Marketing Day 4A (Restaurants) - Mid priced level restaurants Build and Support marketing Campaign templates Website and Mobile App development Relationship building - Increased profit - Increased customer loyalty- Restaurants databases - Online advertisement - Review websites - Restaurants - search engines Important costs? Fixed? Variable? Software (technology) development, (fixed) marketing/sales (variable) Campaign fee, Subscription - Piggy back on loyalty program - Restaurant databases websites People, IT infrastructure, Telecom Infrastructure, Marketing Strategies for Restaurants - Provide cheaper alternative to discounter websites - Customizable marketing program - Filtered promotion information - Local and timely promotions - Age group 30-45 years - Travellers Free - Filtered access to local deals - App store - visited restaurants
  • 96. Mobile Marketing Day 4B ( TELECOM AND MARKETING AGENCIES) Telecoms, marketing agencies Software development, data analysis - Infrastructure to execute marketing campaigns - Efficient low-cost communication with end consumers - Multi-channels access to the potential customer Telecoms, search engines Software (technology) development, marketing/sales (variable) Subscription fee, per customer royalty Direct sales, online advertisementPeople, IT infrastructure Low-cost platform, increasing number of standard marketing campaigns
  • 97. An online platform that connects procurement consortiums with suppliers Interviews: 18 on Day 3 64 Total Ravi Pingli Arez Mardoukhi Gopi Sukhavasi Kevin Woolley
  • 98. Key Partners • Hotel and restaurant associations • Independent research services Key Activities • Develop online platform • Continuous buyer and supplier development Value Propositions Buyers • Find best suppliers for procurement consortiums • Facilitate transparency and ease of use Suppliers • Increased visibility to potential customers Channels • Outside salesforce Customer Relationships • Regular customer contact Customer Segments • Local/ independent restaurants (no chains) • Local/ independent hotels (no chains) • Food, tabletop, and bed linen suppliers Cost Structure • Fixed: Software development/maintenance • Variable: Marketing/sales Revenue • Annual subscription contract for both buyers and suppliers (~0.5% of consortium revenue) • Buyers/suppliers charged to submit/respond to proposals Key Resources • Software development team • Marketing resources Business Model Canvas: Day 3
  • 99. Key Partners • Hotel and restaurant associations • Independent research services Key Activities • Develop online platform • Continuous buyer and supplier development Value Propositions Buyers • Lower costs • Increase options and negotiating position Suppliers • Increased visibility to customers • Increase sales price Channels • Outside salesforce Customer Relationships • Regular customer contact Customer Segments • Local/ independent restaurants (no chains) • Local/ independent hotels (no chains) • Food and tabletop and bed linen suppliers Cost Structure • Fixed: Software development/maintenance • Variable: Marketing/sales Revenue • 3% commission on sales paid by supplier • Annual subscription contract for both buyers and suppliers (~0.5% of consortium revenue) Key Resources • Software development team • Marketing resources Business Model Canvas: Day 4
  • 100. Business Hypotheses Hypothesis 1 • Local restaurant suppliers provide bulk discounts • Test •Interviewing 4 major supplier executives •Obtained price versus quantity data by visiting supplier Hypothesis 2 • Local restaurants require material cost reductions to join YSN Test • Interviews with local restaurants about types of supplies Result • Accepted but inconsistent between different suppliers Result • Different senstivities shown across different categories of supplies Hypothesis 3 • Local restaurant suppliers pay subscription fee to YSN Test • Interviews with suppliers Result • Rejected. Local restaurant suppliers pay commission to YSN
  • 101. Glassware manufacturer YSN - Consortium lists aggregated orders on website - Suppliers place bids on orders - Restaurants pay reduced markup - Glassware supplier pays YSN 3% sales commission Third party sales company or independent sales rep - Sells through catalogs - Local restaurant gets a 50-10 discount - Sales company buys from supplier on a 50- 50 discount level - Sales company gets 10-14% commission on sales Local restaurant Restaurant consortium Ecosystem Showrooms - Buyers pay up to 15% discount on mixed bulk orders depending on category
  • 102. Early adopters • Prepare demo, present contract, and begin building supply network • Selling at least one case of glassware to one of the interviewed restaurants by tomorrow Next steps • Master Chef Warehouse o Offering 3% commission on sales through YSN o Conditional on seeing the demo by Saturday 9AM • MCIC o Offering 3% commission on sales through YSN o No conditions on offer • Lucaris USA o Pending today
  • 103.
  • 104.
  • 105. Customer Contacts Yesterday: 22 traveler groups in person / 33 online survey responses Customer Contacts To Date: 53 in person / 33 online / 75 Adwords clicks / 51,000 online impressions Purchases To Date: 7 Repeat Customers: 1 Scott Greco Ari Harkov Alex Morrison Sarah Shenton Francois Viargues Michael Burke
  • 106. How: Sell itinerary for $9.99, pay local 10%, keep 90% gross margin. Mass Distributors – Content Purchasers Locals - Content Providers 1. Itinerary collection & updates 2. Marketing / PR 3. Customer service – locals & travelersSuppliers: local trendsetters, work in hospitality, younger/creative, bloggers, active parents Get itineraries: $$ for sales as well as exposure (blog, video) Fixed costs: upfront development of site and app Variable costs: talent/people, marketing/advertising, compensation of locals, product iterations How: Sell itinerary for $9.99, pay local 20%, keep 80% gross margin. • Craigslist • Social media • Local blogs 1. Web developers 2. Marketing/PR team 3. Local expert outreach 4. Sales force (low end, in person) Version 3 – EOD April 17th 2012 Mass Distributors – Content Purchasers Bakamba helps tourists have richer, more authentic travel experiences by tapping into the knowledge of locals Save time planning See the “Real” City Filter based on interests Everything in one place Get: PR, digital WOM, SEO, SEM, consumer promotions Keep/ Grow: great customer service, expand cities, improve partner offerings Unique platform for locals experts to share and monetize their local knowledge Revenue sharing & relationship marketing • Search (SEO/SEM) • Social media • Travel blogs / sites Tourists – Content Purchasers Potential idea: Provide recommendations and info to concierges
  • 107. People want flexibility and dynamic itineraries with options The proper price point for our product is $9.99 People will find our website easy to use and aesthetically pleasing WTP increased significantly when presented with MVPs with options Still inconclusive. Seem to be three segments: Free, $4.99, and $9.99. Need more data. Aesthetically pleasing? Yes. Easy to use? Not at all. Oops. People found the site confusing, difficult to navigate, and were unsure of service for sale Hypothesis Result
  • 108. 1 2 3
  • 109. We are solving a clear and deep- seated problem with travel planning. People would rather pay $5-10 and get unbiased recommendations Yes for our personal networks; NO for the 50 or so travelers we’ve spoken to in person this week Two segments – some absolutely would and others don’t care and want deals/sponsorship to make itineraries free to them Hypothesis Result Foreign travelers would not want this tool if they do not have data service Foreign travelers are interested if given printable and/or iPad/mobile offline options
  • 110. How: Sell itinerary for $9.99, pay local 10%, keep 90% gross margin. Mass Distributors – Content Purchasers Locals - Content Providers 1. Itinerary collection & updates 2. Marketing / PR 3. Customer service – locals & travelersSuppliers: local trendsetters, work in hospitality, younger/creative, bloggers, active parents Get itineraries: $$ for sales as well as exposure (blog, video) Fixed costs: upfront development of site and app Variable costs: talent/people, marketing/advertising, compensation of locals, product iterations, printing/binding How: Sell itinerary for $9.99, pay local 20%, keep 80% gross margin. Tests: can we get locals to contribute without the promise of payment for sales? Get one for free if you create one for your own city? Pay to post? Break up itineraries into sections by different locals? • Craigslist • Social media • Local blogs 1. Web developers 2. Marketing/PR team 3. Local expert outreach 4. Sales force (low end, in person) Version 4 – EOD April 18th 2012 Mass Distributors – Content Purchasers Bakamba helps tourists have richer, more authentic travel experiences by tapping into the knowledge of locals Save time planning See the “Real” City Filter based on interests/location/authors Budget advice / Flexibility needed Get: PR, digital WOM, SEO, SEM, consumer promotions, authors as sales force? Keep/ Grow: great customer service, expand cities, improve partner offerings Unique platform for locals experts to share and monetize their local knowledge Revenue sharing & relationship marketing • Search (SEO/SEM) • Social media • Travel blogs / sites • Authors as sales force Tourists – Content Purchasers Potential idea: Provide recommendations and info to concierges
  • 111. Year to Date Revenue = $0.07 Next Steps – Continue gathering feedback from +/-20 or so travelers we’ve emailed MVP site access – Test revamp of revenue model: locals pay to post, locals post without promise of payment, or traveler can either pay $9.99 OR get itinerary for free if they create one for their own city – Continue to investigate WTP, particularly with flexibility options – Investigate online survey feedback and correlations – Review and start testing/implementing improvement suggestions for MVP site – Test more onus on local author to enhance product – Explore additional partnership channels – Explore the possibility of providing offers or deals within itineraries
  • 112. TEAM FACTABASE Comprehensive Business Statistics on Developing Economies Day 4: 14 Interviews Mary Leong, Alexis Farfaro, Calin Bota, Prosasty Chaudhuri, Bader AlKahtani
  • 113. OUR INTERVIEWS HELPED US FOCUS OUR CUSTOMER SEGMENTS FURTHER Value Proposition Hypothesis Experiment Finding Interview Customers are ready to buy this. They were interested in the benefits of Factabase that we did not highlight like Unique access, Official sources and Cost effectiveness “We can’t wait to have this” – Head of Research McKinsey “This is something that is very unique we really need this” – 6 senior researchers and 1 emerging markets specialist Goldman Sachs • More statistics on emerging markets than anyone else • Convenient access Customer Segments Revenue Streams Interview• Frequent • Non-frequent Consultants and investment banks are a key segment Universities and market research are interested but should not be a priority area for us Individuals and Entrepreneurs are interested • Subscription • Per Table Sale Interview Consultancies and investment banks like a pay as you go offering Individuals and entrepreneurs like more convenient ways to buy like per table
  • 114. What are the most important costs inherent in our business model? Fixed? Variable? Access to the most comprehensive and Detailed (hundreds of sources per country) database of curated industry statistics on developing markets. (Majority of which are not indexed on search engines & hidden on authority servers) Convenience in access through Advanced Search; Export and Visualization options; Clear sourcing and real-time updates. Companies and individuals with a need for detailed public statistics on Emerging Markets. • Frequent - Consultancies - Universities • Non-Frequent - Professionals - Entrepreneurs - Students/Professo rs • API access (special datasets) • Automated Services • Subscription model (comprehensive or sector/country specific) • Per-table sale option • API $xx per call • National Statistics Offices • Public Authorities • International Organizations • Companies that publish public statistics • Collecting and preparing the statistical tables • Development of automation software and webapps • Customer acquisition and management • Software/Web developers • Research analysts • Data entry people • HR and admin • Business Development • IT Infrastructure • FTE, IT costs, Rent (Fixed) • Part time employee salaries, SEO (variable) OUR BUSINESS MODEL CANVAS AT THE END OF DAY 3 • Direct Sales • Online Sales Pay as you go
  • 115. What are the most important costs inherent in our business model? Fixed? Variable? Unique access to valuable official statistics on developing economies in a Convenient, Reliable and Cost effective way Companies and individuals with a need for detailed public statistics on Emerging Markets. • Frequent - Consultancies - Universities • Non-Frequent - Professionals - Entrepreneurs - Students/Professo rs • API access (special datasets) • Automated Services • Subscription model (comprehensive or sector/country specific) • Per-table sale option • API $xx per call • National Statistics Offices • Public Authorities • International Organizations • Companies that publish public statistics • Collecting and preparing the statistical tables • Development of automation software and webapps • Customer acquisition and management • Software/Web developers • Research analysts • Data entry people • HR and admin • Business Development • IT Infrastructure • FTE, IT costs, Rent (Fixed) • Part time employee salaries, SEO (variable) OUR BUSINESS MODEL CANVAS AT THE END OF DAY 4 • Direct Sales • Online Sales Pay as you go
  • 116. VISUALIZING THE VALUE PROPOSITION May, 06 April, 07 May, 07 Last month Last year        Group & Sub-group 456 492 496 0.81 8.77 I     FOOD, BEVERAGES  & TOBACCO 447 473 471 -0.42 5.37 a. Cereals 566 607 607 0 7.24 b. Pulses 295 345 348 0.87 17.97 c. Oils & Fats 520 581 587 1.03 12.88 d. Meat, Fish etc. 396 433 435 0.46 9.85 e. Milk & Milk Products 501 580 584 0.69 16.57 f. Condiment, Spices etc. 467 493 520 5.48 11.35 g. Vegetables 390 479 475 -0.84 21.79 h. Fruits 398 321 309 -3.74 -22.36 i. Sugar, Honey etc. 485 517 520 0.58 7.22 j. Non-alc Beverages 582 623 626 0.48 7.56 k. Prep. Meals etc. 683 745 768 3.09 12.45 l. Pan, Supari, Tobacco etc. 538 579 581 0.35 7.99 II     FUEL & LIGHT 501 529 529 0 5.59 III    HOUSING 423 438 439 0.23 3.78 IV    CLOTHING, BEDDING  & FOOT-WEAR etc. 415 429 430 0.23 3.61 a. Clothing & Bedding 478 500 501 0.2 4.81 b. Foot-wear 479 500 501 0.2 4.59 V      MISCELLANEOUS 497 516 518 0.39 4.23 a. Medical care 369 395 396 0.25 7.32 b. Education 400 422 423 0.24 5.75 c. Recreation & Amusement 667 685 686 0.15 2.85 d. Transport & Communicaton 375 394 395 0.25 5.33 e. Personal Care & Effect 413 437 440 0.69 6.54 f. Household Requisites 567 590 592 0.34 4.41 g. Others 471 501 503 0.4 6.79        General Index Group/Sub-group wise percentage change in All-India index from last month and last year Base:- 1984-85=100 50-5 ‫جدول‬ ‫النـوع‬ ‫خصوصي‬ ‫أجرة‬ ‫نقل‬ ‫حافلة‬ ‫نارية‬ ‫دراجة‬ ‫آليات‬ ‫المجموع‬ Kind ‫المنطقة‬ Private Taxi Truck Bus Motor-Cycle Vehicles Total Region 102654 3934 35361 1896 1003 1259 146107 90540 3491 25841 3116 1811 637 125436 12582 65 6481 522 30 5 19685 63913 371 19777 2023 94 413 86591 7838 8 7670 167 30 5 19685 4400 14 1590 87 2 10 6103 6547 0 1102 126 0 0 7811 8442 2 6029 125 6 48 14652 1234 3 1113 52 1 1 2404 2759 4 1924 7 8 5 4707 2464 0 1424 161 20 0 4069 4092 75 2105 92 20 14 6398 1102 3 812 20 1 0 1938 308567 7970 111229 8394 3026 2397 439588 ‫اإلجتماعية‬ ‫الخدمات‬ Social Service ‫5241هـ‬ ‫لعام‬ ‫والمنطقة‬ ‫اللوحة‬ ‫نوع‬ ‫حسب‬ ‫موزعة‬ ‫بالمملكة‬ ‫المركبات‬ ‫لوحات‬ ‫من‬ ‫المنصرف‬ Car Plates Issued in the Kingdom By Type : 1425 A.H. Table 5-50 ‫الرياض‬ Riyadh ‫المكرمة‬ ‫مكة‬ Makkah ‫المنورة‬ ‫المدينة‬ Madinah ‫الشرقية‬ Eastern ‫القصيم‬ Al-Qaseem ‫تبوك‬ Tabouk ‫حائل‬ Hail ‫عسير‬ Assir ‫الشمالية‬ ‫الحدود‬ Northern Boarder ‫نجران‬ Najran * ‫الجوف‬ Al-Jouf ‫جازان‬ Jazan . ‫ً من عام 4141هـ‬‫ا‬‫ *  تشمل القريات إعتبار‬ * Included Qurayatas From 1414 A.H. . ‫الباحة‬ Al-Baha ‫المجموع‬ Total .  ‫المصدر : وزارة الداخلية - اإلدارة العامة للمرور‬ Source : Ministry of Interior- General Directorate of Traffic . 63 1427 22 50 00 02 1428 00 40 00 03 1/1-30/6/1429 02 00 00 00 1912 FACTABASE Coverage of Competition Collection Reformatting, Normalizing and Preparing Categorization Distribution 1 2 3 4 Quality check
  • 117. OUR INTERVIEWS HELPED US FOCUS OUR CUSTOMER SEGMENTS FURTHER Value Proposition Hypothesis Experiment Finding Interview Customers are ready to buy this. They were interested in the benefits of Factabase that we did not highlight like Unique access, Official sources and Cost effectiveness “We can’t wait to have this” – Head of Research McKinsey “This is something that is very unique we really need this” – 6 senior researchers and 1 emerging markets specialist Goldman Sachs • More statistics on emerging markets than anyone else • Convenient access Customer Segments Revenue Streams Interview• Frequent • Non-frequent Consultants and investment banks are a key segment Universities and market research are interested but should not be a priority area for us Professionals and Entrepreneurs are interested • Subscription • Per Table Sale Interview Consultancies and investment banks like a pay as you go offering Individuals and entrepreneurs like more convenient ways to buy like per table
  • 118. What are the most important costs inherent in our business model? Fixed? Variable? Access to the most comprehensive and Detailed (hundreds of sources per country) database of curated industry statistics on developing markets. (Majority of which are not indexed on search engines & hidden on authority servers) Convenience in access through Advanced Search; Export and Visualization options; Clear sourcing and real-time updates. Companies and individuals with a need for detailed public statistics on Emerging Markets. • Frequent - Consultancies - Universities • Non-Frequent - Professionals - Entrepreneurs - Students/Professo rs • API access (special datasets) • Automated Services • Subscription model (comprehensive or sector/country specific) • Per-table sale option • API $xx per call • National Statistics Offices • Public Authorities • International Organizations • Companies that publish public statistics • Collecting and preparing the statistical tables • Development of automation software and webapps • Customer acquisition and management • Software/Web developers • Research analysts • Data entry people • HR and admin • Business Development • IT Infrastructure • FTE, IT costs, Rent (Fixed) • Part time employee salaries, SEO (variable) OUR BUSINESS MODEL CANVAS AT THE END OF DAY 2 • Direct Sales • Online Sales Pay as you go
  • 119. What are the most important costs inherent in our business model? Fixed? Variable? Access to the most comprehensive and Detailed (hundreds of sources per country) database of curated industry statistics on developing markets. (Majority of which are not indexed on search engines & hidden on authority servers) Convenience in access through Advanced Search; Export and Visualization options; Clear sourcing and real-time updates. • Management Consultancies And Investment Banks • Market Research Firms • Educational Institutes • Professionals/E ntrepreneur • Automated Services • Subscription model (comprehensive or sector/country specific) • Per-table sale option • API $xx per call • National Statistics Offices • Public Authorities • International Organizations • Companies that publish public statistics • Collecting and preparing the statistical tables • Development of automation software and webapps • Customer acquisition and management • Software/Web developers • Research analysts • Data entry people • HR and admin • Business Development • IT Infrastructure • FTE, IT costs, Rent (Fixed) • Part time employee salaries, SEO (variable) OUR BUSINESS MODEL CANVAS AT THE END OF DAY 2 • Direct Sales • Online Sales Pay as you go
  • 120. TYPICAL CUSTOMER JOURNEY AT GOLDMAN SACHS Interested in a deal in the retail industry in the country Azerbaijan Research Request sent to research team on: - Number of hospitals by type in Azerbaijan - Number of patients by illness in Azerbaijan - Number of beds in each hospital in Azerbaijan - The same data on other nearby countries to compare Premium Database Going the extra mile • 50 phone calls • 40 hours Web search • 50 hours of data entry • $$$ and time spent FACTABASE NO RESULTS 5% of results 10% of results 10% of results 100% of results
  • 121. OUR INTERVIEWS HELPED US FOCUS OUR CUSTOMER SEGMENTS FURTHER Value Proposition Hypothesis Experiment Finding Interview Customers are ready to buy this. They were interested in the benefits of Factabase that we did not highlight like Unique access, Official sources and Cost effectiveness “We can’t wait to have this” – Head of Research McKinsey “This is something that is very unique we really need this” – 6 senior researchers and 1 emerging markets specialist Goldman Sachs • More statistics on emerging markets than anyone else • Convenient access Customer Segments Revenue Streams Interview• Frequent • Non-frequent Consultants and investment banks are a key segment Universities and market research are interested but should not be a priority area for us Individuals and Entrepreneurs are interested • Subscription • Per Table Sale Interview Consultancies and investment banks like a pay as you go offering Professionals and entrepreneurs like more convenient ways to buy like per table
  • 122. OUR REVENUE STREAMS AT DAY 3 ComprehensiveSectorSpecific CoverageNeeded FrequentLess Frequent Frequency of Need Entrepreneurs and Independent Researchers Full Access Subscri- ption Based ServicePer Table Charge Per Table Charge Sector based Subscri- ption Service Consultancies Universities Financial Services Firms Market Research Firms
  • 123. ComprehensiveSectorSpecific CoverageNeeded FrequentLess Frequent Frequency of Need Entrepreneurs and Independent Researchers Full Access Subscri- ption Based ServicePer Table Charge Per Table Charge Sector based Subscri- ption Service Consultancies Universities Financial Services Firms Market Research Firms OUR REVENUE STREAMS AT DAY 4
  • 124. What are the most important costs inherent in our business model? Fixed? Variable? Access to the most comprehensive and Detailed (hundreds of sources per country) database of curated industry statistics on developing markets. (Majority of which are not indexed on search engines & hidden on authority servers) Convenience in access through Advanced Search; Export and Visualization options; Clear sourcing and real-time updates. Management/Strate gy Consultancies Financial Services Market Research Firms Educational Institutes Individual/Entrepre neur • Automated Services • Subscription model (comprehensive or sector/country specific) • Per-table sale option • National Statistics Offices • Public Authorities • International Organizations • Companies that publish public statistics • Collecting and preparing the statistical tables • Development of automation software and webapps • Customer acquisition and management • Software/Web developers • Research analysts • Data entry people • HR and admin • Business Development • IT Infrastructure • FTE, IT costs, Rent (Fixed) • Part time employee salaries, SEO (variable) OUR BUSINESS MODEL CANVAS AT THE END OF DAY 2 • Direct Sales • Online Sales
  • 125. What are the most important costs inherent in our business model? Fixed? Variable? Access to the most comprehensive and Detailed (hundreds of sources per country) database of curated industry statistics on developing markets. (Majority of which are not indexed on search engines & hidden on authority servers) Convenience in access through Advanced Search; Export and Visualization options; Clear sourcing and real-time updates. Management/Strate gy Consultancies Financial Services Market Research Firms Educational Institutes Individual/Entrepre neur • Automated Services • Subscription model (comprehensive or sector/country specific) • Per-table sale option (with pay as you go option for large accounts) • National Statistics Offices • Public Authorities • International Organizations • Companies that publish public statistics • Collecting and preparing the statistical tables • Development of automation software and webapps • Customer acquisition and management • Software/Web developers • Research analysts • Data entry people • HR and admin • Business Development • IT Infrastructure • FTE, IT costs, Rent (Fixed) • Part time employee salaries, SEO (variable) OUR BUSINESS MODEL CANVAS AT THE END OF DAY 2 • Direct Sales • Online Sales
  • 126. What are the most important costs inherent in our business model? Fixed? Variable? • Automated Services Per-table sale option (with pay as you go option for large accounts) • National Statistics Offices • Public Authorities • International Organizations • Companies that publish public statistics • Collecting and preparing the statistical tables • Development of automation software and webapps • Customer acquisition and management • Software/Web developers • Research analysts • Data entry people • HR and admin • Business Development • IT Infrastructure • FTE, IT costs, Rent (Fixed) • Part time employee salaries, SEO (variable) OUR BUSINESS MODEL CANVAS AT THE END OF DAY 4 • Direct Sales • Online Sales • Management Consultancies And Investment Banks • Market Research Firms • Educational Institutes • Individual/Entre preneur Unique access to valuable official statistics on developing economies in a Convenient, Reliable and Cost effective way
  • 127. Factabase Day 4 Jyotsn a Gianlui gi Kerli Brian Dimita r Camill a Your Groceries… in the 21st Century 136 interviews
  • 128. Hypotheses / Results – Day 3 Inventory tool enhanced with recipes and dietary info Small retailers are good partner for sales fullfilment • Small mom & pop shops are fearful / busy growing physical sales • Mid-sized are already present online somehow: “talk to head office” • 86% would use the eFood app • 70% WTP, 35% >$1.99  Survey to validate day 2 results    Retail interviews (8) Key Insights: We validated the concept Sales delivery partners are NOT small retailers  Customers willing to scan / record inventory • 48% would scan/ input manually  Survey  App would convert users to online shopping • Survey indicates 43% increase  Survey   • eFood makes connections that don’t currently exist • Recipe / shopping apps and online shopping apps exist but are not married together nor with inventory management  20 research 
  • 129. Value Proposition For the Consumer We save you TIME by helping you TRACK, DECIDE ON and BUY groceries For the Business Partners We generate SALES to your store We deliver effective ADS at the point of purchase decision
  • 130. eFood Value Prop and Revenue Generation Model Track Discover Educate & Communicate What I have What I don’t have Recipes Required Ingredients SUGGEST DECIDE PURCHASE SHARE Healthy Eating Info Share recipes with friends Display Ads Recommendations Commission on online order or store purchase Display Ads Functionality Output User BenefitRevenue Opportunity Buy Online order In-store purchase
  • 131. Web portal Smartphone App CONSUMER ’S Kitchen eFood Platform Online Inventory Multiple devices sync Recipes Healthy Eating Nutritional Info Tablet App Social Networks Online stores eFood Ecosystem ADVERTISERS CONTENT FULLFILLME NT DELIVERY Physical Stores O R Orders Search & Recommendati on CONTEN T MONEY GOODS
  • 132.
  • 133. Five things to know about online grocery shopping: Consumers love online grocery shopping, but it takes time getting used to. You can simply the process by improving the online experience with navigation, search, online help and porting over shopping lists. Deliver a better time-saving experience and consumers will hang on. Online baskets are different than offline baskets. The average transaction size is much larger for food and beverages ($80 online / $30 offline) and health and beauty purchase ($30 online / $10 offline). And online shopping offers a greater mix of pack sizes and categories. Consumer perceptions and purchase behaviors are affected in important ways. The interactions with the online ‘store’ environment are fundamentally different than an in-store experience. The online experience is fueled by a needs-driven experience as a greater variety of options are made available on screen. Online shopping “levels the playing field”. Big brand ‘physical’ advantages do not translate online. With universal distribution and search functionality an inherent bias toward niche players is created. Ultimately, price transparency, connectivity and open content favor a purely ‘rational’ market. Large and small brands can win online by combining marketing savvy with digital capabilities to add value. With interactive websites, smartphone applications and social media connections, expanding your brands in new and innovative directions is virtually limitless.
  • 134. Five things to know about online grocery shopping: Consumers love online grocery shopping, bu t it takes time getting used to. You can simply the process by improving the online experience with navigation, search, online help Deliver a better time-saving experience and consumers will hang on Online baskets are different than offline baskets. The average transaction size is much larger for food and beverages ($80 online / $30 offline) and health and beauty purchase ($30 online / $10 offline). And online shopping offers a greater mix of pack sizes and categories. The online experience is fueled by a needs-driven experience Big brand ‘physical’ advantages do not translate online Large and small brands can win online by combining marketing savvy with digital capabilities to add value Expanding your brands in new and innovative directions is
  • 135. Top line survey results Would you use smartphone/scanner / manually input your products? Dou you shop online for grocery goods? Would you pay and how much for grocery app?
  • 136. • Automated services • Dedicated manager • Online and Offline End-users: • - Family busy mums / working fulltime • - Higher and medium income • - Willing to pay for convenience (headspace) • People who cook at home and buy at least something online • Platform development & management • Platform promotion Marketing & sales tool: • new customers • Increase revenues • information on consumption behaviour • Increased loyalty • Grocery Distributors to stores / horeca sector • Apple / Android Platforms • Delivery company (fresh direct) • Content providers (recipes) • BeVinco • Quantified self • Platform management and development • Customer acquisition costs • Cost for service premium users • transaction fees on online purchases (from supermarkets) • add revenues • Direct sales force • Platform • Customer base • Software developers • Partners relationship managers • Content development and management 1 3 2 5 6 7 8 9 • Save - time - money • Value added - Diet advisory management - Recipes • Home cooking service 4 • Grocery Retailers • Distributors (Food) • Basic app is for free • Selling smartphone apps and extra services - freemium • Selling hardware (scanning devices) • On-line retailers • myvirtualpantry.co m • Smartphone apps • web sales • Household appliance store for scanners (Premium users) • Automated and targeted mass customization based on past consumption patterns &, reccomendation analyses End user FMCG retailers Multi-sided platforms DAY 3HoReC a
  • 137. Automated Service (Smartphone App and Website) • Time Conscious • Tech Friendly • Cook at home NB. Trackers (Early evangelists) • Platform development & management • Platform promotion Generate Sales, expand retailers customer base and avg. shopping basket • Retailers (Physical & Online) • Apple / Android Platforms • Content providers (Recipes etc.) • Platform management and development • Customer acquisition costs • Cost for service premium users Sales commissions on retail orders • Software developers • Partners relationship managers • Content management 1 3 2 5 6 7 8 9 • Save time & effort by Tracking, Deciding on & Buying Groceries • Eat Better 4 Physical Retailers Online Retailers • Two tier Smartphone App pricing : Lite = Free, Pro = $1.99 (Limited time free promo) • Selling hardware (scanning devices) Direct App Store In –person dedicated (Relationship Manager) Consumer s DAY 4Advertisers In-person dedicated (Ad sales) Indirect Partner Stores Direct Advertisers Deliver targeted Advertising Display ads, recommendations MULTI-SIDED PLATFORM Advertiser Retailers