Origins io columbia univ jan 2014
 

Origins io columbia univ jan 2014

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  • DAY 2
  • DAY 3
  • DAY 4
  • DAY 5

Origins io columbia univ jan 2014 Origins io columbia univ jan 2014 Presentation Transcript

  • Team 6 Interviews today: 5 Total interviews: 49
  • INTERVIEW BREAKDOWN Students Teachers Parents Administrators Tech Expert TOTAL % Day 1 8 3 3 1 0 15 31% Day 2 3 4 4 1 0 12 24% Day 3 11 2 0 2 2 17 35% Day 4 0 1 4 0 0 5 10% TOTAL 22 10 11 4 2 49 - % 45% 20% 22% 8% 4% - 2
  • DAY 1 (Initial idea) MARKETPLACE 3
  • Key Partners Key Activities •Analytics •Cloud Provider •Development Resource •College / SAT Prep Centers •Data Maintenance (Pathways) •Web Maintenance & Development •Relationship forming (Marketplace) •Grassroots evangelism Key Resources •Web & Mobile Engineer •Offshore Dev Team •UX/UI Design •Open APIs (Data) •Academic expert / Occupational therapists •AWS / Cloud infrastructure •IP (domain, trademark/servicemark, incorporation) Cost Structure • Technology – Engineering & Platform • Customer Acquisition Value Propositions Simple uncluttered interface •Discover career options; self assessment •Research career options •Career pathways •Career planning platform •Connect to mentors & coaches (marketplace) Flow: 1)Search / Test 2)Career Options 3)Pathways 4)Coaching / Mentoring 5)Facility for managing information Customer Relationships •Self Service •Community forums •Sales Pitches > Contracts •Progress Reporting •Drip marketing campaigns (marketing automation) Customer Segments •High School Students •School District (administrators, teachers, guidance counsellors) •Parents of Students •Career Coaches •Mentors Channels •Test prep centre partners •Parent magazines advertising •Direct to user (individual/self serve website) •Parent Teacher Meetings •Sales presentations to teachers & school admin •Presentations at conferences/ white papers •Online advertising Revenue Streams 2 options: •Freemium – Search = Free; Pathways = Paid •Free – Advertising & Sponsorships
  • DAY 1 Value Propositions Simple uncluttered interface • Discover career options; self assessment • Research career options • Career pathways • Career planning platform • Connect to mentors & coaches (marketplace) Flow: 1. Search / Test 2. Career Options 3. Pathways 4. Coaching / Mentoring 5. Facility for managing information Customer Segments • High School Students • School District (administrators, teachers, guidance counsellors) • Parents of Students • Career Coaches • Mentors
  • DAY 1  DAY 2 = PIVOT! HYPOTHESIS ACTIONS Marketplace for HS students and mentors = Value Simple career search and planning = Value HS Guidance counselors = Channel RESULTS ITERATE FALSE Drop it. (1) Security concerns (2) No clear incentive for mentors Interviewed students, teachers, and parents. TRUE Focus on it. Student engagement Introduce ELI5 style. and ownership are (Explain Like I’m 5) the real needs. FALSE Mostly takes care of logistics. Drop it. 6
  • Key Partners • Cloud Providers • Analytics • Development Resource • College / SAT Prep Centers Key Activities • Algorithm development • Compose ELI5 renditions of raw data • Web Maintenance & Development • Data Maintenance (Pathways) • Relationship forming (Marketplace) • Grassroots evangelism Key Resources • Full Stack Engineering Team (UX/UI, Cloud, Mobile, Web) • Writers • IP (algorithm) • Open APIs (Data) • Web & Mobile Engineer • Offshore Dev Team • Academic expert / Occupational therapists • AWS / Cloud infrastructure Cost Structure • Technology – Engineering & Platform • Customer Acquisition • Writers Value Propositions • One step career path search • Career planning platform • Natural language interpretation • De-cluttered interface • ELI5 style Simple uncluttered interface • Discover career options; self assessment • Research career options • Career pathways • Connect to mentors & coaches (marketplace) Flow: 1)Search / Test 2)Career Options 3)Pathways 4)Coaching / Mentoring 5)Facility for managing information Customer Relationships GET: • Grassroots evangelism KEEP: • Gamification & ELI5 • Drip marketing campaigns (marketing automation) GROW: • Referral competitions • • • • Self Service Community forums Sales Pitches > Contracts Progress Reporting Customer Segments • High School Students aged 14-18 with household incomes of $40,000+ • School District (administrators, teachers, guidance counsellors) • Parents of Students • Career Coaches • Mentors Channels • • • • • High School Teachers Direct to user Test prep centers Parent magazine ads Online ads • Parent Teacher Meetings • Sales presentations to teachers & school admin • Presentations at conferences/ white papers Revenue Streams 2 options: • Freemium: Free with ads. Pay to remove ads. • Free – Advertising & Sponsorships
  • DAY 2  DAY 3 = some iterations HYPOTHESIS ACTIONS RESULTS ITERATE Generates profit 100% from advertising Crunched numbers. FALSE Loss even at target market share Come up with a new revenue model. All HS students need a career search tool. ELI5 style would improve student engagement. FALSE Narrow our Found no interest from archetype to Freshman/Sophomore. Juniors and Seniors. Interviewed more students and teachers. TRUE Positive feedback Keep it. 8
  • CHANNELS, GET, GROW, $ High School Teachers + Direct-to-User Student runs free searches Create account and save searches $10 or refer 10 friends to unlock more features Referral *See $ numbers at the end of presentation.
  • Key Partners • Universities • Test Prep Centers • Cloud Providers Key Activities • Algorithm development • Compose ELI5 renditions of raw data • Web Maintenance & Development Key Resources • Full Stack Engineering Team (UX/UI, Cloud, Mobile, Web) • Writers • IP (algorithm) • Open APIs (Data) Cost Structure • Technology – Engineering & Platform • Customer Acquisition • Writers Value Propositions • Career discovery simplified • Career planning gamified • Natural language interpretation • De-cluttered interface • ELI5 style Customer Relationships GET: • Grassroots evangelism • Online and print media advertising KEEP: • Gamification & ELI5 • Drip marketing campaigns (marketing automation) GROW: • Referral competitions Customer Segments • High School Juniors & Senior aged 16-18 who are unsure of their career/college choice Channels • High School Teachers • Direct to user Revenue Streams • Freemium: Free with ads & hidden content. Pay to remove ads and reveal additional content • Partner Advertising - $11.4M (1% of College Adv. Spend) • Subscription - $2.1M (25% of Target as paying)
  • DAY 3  DAY 4 = $ Day HYPOTHESIS ACTIONS RESULTS ITERATE Users like our new freemium referral model. Interviewed students. TRUE Positive feedback. Received some idea of WTP. Keep it. Our cost estimations make sense. Validate the cost estimations with tech experts TRUE Cost estimates are in line with industry averages. Keep it. Market size estimation Launch a targeted ad campaign on Facebook. See results at the end of DAY 5. - 11
  • USER FLOW • Sketch user flow chart • Start building wireframe 12
  • Key Partners • Universities • Test Prep Centers • Cloud Providers Key Activities • Algorithm development • Compose ELI5 renditions of raw data • Web Maintenance & Development Key Resources • Full Stack Engineering Team (UX/UI, Cloud, Mobile, Web) • Writers • IP (algorithm) • Open APIs (Data) Cost Structure • Technology – Engineering & Platform • Customer Acquisition • Writers Value Propositions • Career discovery simplified • Career planning gamified • Natural language interpretation • De-cluttered interface • ELI5 style Customer Relationships GET: • Grassroots evangelism • Online and print media advertising KEEP: • Gamification & ELI5 • Drip marketing campaigns (marketing automation) GROW: • Referral competitions Customer Segments • High School Juniors & Senior aged 16-18 who are unsure of their career/college choice Channels • High School Teachers • Direct to user Revenue Streams • Freemium: Free with ads & hidden content. Pay to remove ads and reveal additional content • Partner Advertising (Colleges spend 1.1bn annually in adv.) • Subscription - $2.1M (25% of Target as paying)
  • DAY 4  DAY 5 = !!! • Gathered feedback from more students DAY 4 morning. Identified 0% interest!! • “Do we have a business?!” • “Are we focusing the wrong customers?!” • “Should we go for college students?!” • “Who are the competitors in that market?!” 14
  • DAY 4  DAY 5 = !!! • Reassessed the situation. • Found: • The high school we interviewed has highly competitive admissions process, high graduation rate, etc. • We were interviewing the wrong archetype! 15
  • DAY 4  DAY 5 = GAIN! • Archetype hypothesis confirmed! • Our primary archetype is a high school junior or senior who is UNSURE of his/her future. 16
  • Key Partners • Universities • Test Prep Centers • Cloud Providers Key Activities • Algorithm development • Compose ELI5 renditions of raw data • Web Maintenance & Development Value Propositions • Career discovery simplified GET: • Grassroots evangelism • Online and print media advertising KEEP: • Gamification & ELI5 • Drip marketing campaigns (marketing automation) GROW: • Referral competitions • Natural language interpretation • De-cluttered interface • ELI5 style • Career planning – gamified (Postponed from MVP) Key Resources • • • • Web/Algorithm Development – $51k (One-time) Hosting and Maintenance – $70k (Ongoing per year) CAC – $4.4m (Ongoing per year) Writers – $25k (Ongoing per year) Customer Segments • High School Juniors & Senior aged 16-18 who are unsure of their career/college choice  Channels • High School Teachers • Direct to user • Full Stack Engineering Team (UX/UI, Cloud, Mobile, Web) • Writers • IP (algorithm) • Open APIs (Data) Cost Structure Customer Relationships Revenue Streams • • • • Freemium model: Pay/refer friends to unlock features. Subscription – $6.5m (25% of target as paying, per year) Advertising – $60k (based on target page views, per year) Partner Advertising (Colleges spend 1.1bn annually in adv.)
  • FACEBOOK AD RESULTS MARKET SIZE • • • Pay-per-click campaign Target: U.S. high school juniors and seniors (age 15-18) Landing page: www.origins.io We’ve collected 124 email addresses in < 48 hours!
  • REVENUE ESTIMATION MARKET SIZE 1 1 HS Juniors & Seniors = 6.8M 2 38% showed interest in a search tool = 2.8M 3 Capture 25% of this market = 646K 2 3 TOTAL ESTIMATED ANNUAL REVENUE = $10 x 646k = 6.46m
  • COST ESTIMATION (in 1,000s) Web/Algorithm Dev Writers Web/Algorithm Maintenance Writers Hosting CAC SUNK ONE-TIME COSTS (30 days, 5.3 offshore staff, pricing average $41 41 per hour) 10 (1,000 hours @ $10) FIXED COST (PER YEAR) 60 (1.5 offshore staff per year) 25 (0.5 writers per year) VARIABLE COST (PER YEAR) (Linear cost directly proportional to 11 traffic/customer count) 4,414 (Results based on CTR of Facebook campaign) TOTAL ESTIMATED ANNUAL COST = 4.51m TOTAL ESTIMATED ANNUAL PROFIT = ~2m
  • DEMO demo.origins.io 21
  • NEXT STEPS • Improve demo. Launch video ad. • Launch Kickstarter.