TEAL BridgeFinal Presentation  Tiffany. Etosha. Alessandra. Lillian  3/12/2013         Interviews: 9/148 Total         Sur...
Our Path
Video of our path                    Link
Retractable High Heel ShoesAdditional Highlights
Pivots
Hypotheses Concluded Key Partners              Key Activities         Value Prop                     Customer             ...
3 Most Surprising Lessons  • Value Prop.: Aesthetics is chief above all  • Key Resources: Shoe designer is imperative  • C...
Break-ups and TherapyAdditional Highlights
Hypotheses Concluded Key Partners                  Key Activities             Value Prop                      Customer    ...
3 Most Surprising Lessons  • Value Prop.: Fit is the top priority when finding    a therapist, more than cost, creditabili...
Mystery MingleOverview and AdditionalHighlights Mystery Mingle is a system which coordinates small to medium gatherings,  ...
Ecosystem
Product-Market Fit
Key MetricsConsumer sees ad                                                       4 % delivery                            ...
Google Adwords                                                        CTR-Keywords                                        ...
Business model leverages network effects      Number of organizers                     Network effects  800,000           ...
Gross Margin                       Profitability analysis                   Year 1      Year 52   Conversion rate (percent...
Wireframe
Hypotheses Concluded Key Partners                   Key Activities                Value Prop                        Custom...
Lessons from class  • Team dynamics can make or break a start-up   ▫ Lot easier to work on something you are     passionat...
Acknowledgements• TEAL Bridge would like to thank ▫ Mentors ▫ Interviewees ▫ Classmates
Backup
Metrics that matter     Key Metric                          Why it matters 1   Average CPC                         Determi...
Average acquisition cost declining dueto network effects               Acquisition cost per organizer$14$12$10 $8 $6 $4 $2...
Gross Margin Analysis                 Year 1              Year 2       Year 3                      Year 4       Year 5Popu...
Group in-restaurant revenuePercent of mingles hosting event in-restaurantthrough site                                     ...
What would it take to be a $10M/Yrrevenue business•   20% usage rate•   10 people per mingle•   Each organizer conducting ...
Google Adwords  Lillian-can you make        this pretty     208 clicks in 7 days     Avg. CPC = $0.22
Project teal 031213 e245 2013
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  • We’ve gone through this journey and the best way to show it through the video. Update: Change the glassesRestart was a high pointRedo the vertical heights
  • Want to remind you that have insights on all areas of the canvas, but we explore this other pivots
  • With the pivots, customer still preferred the shoeAs a way to address high heel pain
  • Hight 3-5 key hypothesis
  • Find words for confirmed
  • Hight 3-5 key hypothesis
  • Mystery Mingle is a system with coordinates small to medium gatherings, automates ice-breakers and aids in reservations or food ordering. Change outing to events
  • Change the gains here
  • Succinctly illustrate the percent returning and participants turned organizers
  • 5 year high-level profitability analysis
  • Add more pictures
  • Addlearnings that are germane to the class content
  • Add in more keywords-take from the Google adwords siteMaybe histogram
  • Transcript of "Project teal 031213 e245 2013"

    1. 1. TEAL BridgeFinal Presentation Tiffany. Etosha. Alessandra. Lillian 3/12/2013 Interviews: 9/148 Total Survey Responses: 163
    2. 2. Our Path
    3. 3. Video of our path Link
    4. 4. Retractable High Heel ShoesAdditional Highlights
    5. 5. Pivots
    6. 6. Hypotheses Concluded Key Partners Key Activities Value Prop Customer Customer • Manufacturing • Product quality • Aesthetics is chief above all Rel. Segment partners will be • Customer service • Reliability critical • Marketing/promo • Shoe should not look • Retention • High end shoe stores tions “functional” • Referrals need to carry the • Reducing 2-shoe shoes in order for burden is important high-end customers • Versatility important to see and purchase • Women who wear high them Key Resources • #1 reason women wear heels to work would • Online partnerships high heels to work is to Channels find our product • Shoe designer is look professional (e.g. Zappos) will be appealing important imperative • The #1 reason women • Online • Shipping • Funding wear high heels is to • Boutique & Dept partnerships will be feel sexy/stylish stores not an option critical • Customers find the until demand proven • TV partnerships (e.g. design of the (online & trunk QVC) will be telescoping heel shows) important aesthetically pleasing Cost structure Revenue streams • Customers purchase 3-4 pairs every year for going out • Encourage repeat revenue by offering different styles for different seasons Total Validated Hypotheses: 22 Total Invalidated Hypotheses: 3
    7. 7. 3 Most Surprising Lessons • Value Prop.: Aesthetics is chief above all • Key Resources: Shoe designer is imperative • Channels: Boutique & Dept stores not an option until demand proven (online & trunk shows)
    8. 8. Break-ups and TherapyAdditional Highlights
    9. 9. Hypotheses Concluded Key Partners Key Activities Value Prop Customer Customer • Fit w/counselor is most • Developing match imp. attribute Rel. Segment algorithm requires • Organizing group • Online acquisition collaboration w/ therapy is a pain point • Only small segment of model works for psychologists for therapists people looking to be therapy matched with (paid) • Insurance won’t pay for • Credentials / credibility group counselors therapy unassociated is an important attribute • Adults experiencing a w/ diagnosed condition • People don’t see need for timely and relevant • Corporations unwilling “preventative” counseling trauma to sponsor therapy Key • Urgency is a key Channels • Teenagers who don’t want programs not covered by insurance Resources requirement for seeking a counselor to talk to their parents or friends about issues • Price is a key • Couples going through • Heavy marketing & PR • People strongly prefer impediment to seeking a relationship issues required to change to meet counselors in- counselor • Adults who are isolated perception person • Anonymity is a and have shared prerequisite for seeing a experience counselor Costs structure Revenue streams • Customer Acquisition cost via Google Adwords campaign • Adverse selection problem when charging counselors monthly vs. per-acquisition • 1:1 in-person therapy match is a transactional business model • Better control of revenue stream w/ group Total Validated Hypotheses: 15 Total Invalidated Hypotheses: 6
    10. 10. 3 Most Surprising Lessons • Value Prop.: Fit is the top priority when finding a therapist, more than cost, creditability or urgency. • Revenue Streams: Adverse selection problem when charging counselors monthly vs. per- acquisition • Key Partners: Insurance will not pay for therapy for an undiagnosed condition
    11. 11. Mystery MingleOverview and AdditionalHighlights Mystery Mingle is a system which coordinates small to medium gatherings, automates ice-breakers and aids in reservations or food ordering.
    12. 12. Ecosystem
    13. 13. Product-Market Fit
    14. 14. Key MetricsConsumer sees ad 4 % delivery 3 Usage rate (% sign-up who plan) (5% revenue Facebook Plan Event Mystery Mingle Analyze1 CPC friends’ profile Select prix- Order food Site fixe menu for delivery Google Guest list suggestions 5 % prix fixe2 Conversion Calendar (15% revenue) rate (sign-up) check: suggest date/time Guests Guests Customer signs-up pre-pay chips in Select game theme Links to Facebook & Google+ Organizer or friend hosts next event % Participants 6 % Returning 7 turned organizers
    15. 15. Google Adwords CTR-Keywords Mingle208 clicks in 7 days dating serviceAvg. Cost per click online dating site online dating services display networks= $0.16 0% 5% 10% 15% 20% 25% Google Search=$1.54 CTR-Display Networks grated.com asiandating.com faxo.com metric-conversions.org match.com caribbeancupid.com india-forums.com answers.com beautypageantnews.com latinamericancupid.com tinybytes.me 0% 20% 40% 60% 80% 100%
    16. 16. Business model leverages network effects Number of organizers Network effects 800,000 P Participant 700,000 P P P O Organizer 600,000 500,000 P O P 400,000 300,000 P P 200,000 P 100,000 P P 0 Year Year Year Year Year P O P 1 2 3 4 5 P P
    17. 17. Gross Margin Profitability analysis Year 1 Year 52 Conversion rate (percent who sign-up) 10% 15%3 Usage rate (percent who organize a mingle) 10% 18% Total organizers 13,200 704,3326 % Returning 50%7 % Participants turned Organizers 10% Delivery revenue4 Percent of mingles ordering delivery thru site 15% 15% Total delivery revenue $3,168 $422,599 Group in-restaurant revenue5 Percent of mingles hosting prix-fixe event in restaurant 10% 10% Total in-restaurant revenue $21,120 $3,380,795 Yearly ad revenue $28,512 $376,693 Total yearly revenue $52,800 $4,180,087 Average revenue/organizer $4 $6 Costs1 CPC $0.12 $0.04 Average cost to accquire $12 $1 Gross Margin $(105,600) $3,652,087
    18. 18. Wireframe
    19. 19. Hypotheses Concluded Key Partners Key Activities Value Prop Customer Customer • Alleviates logistical • Sell ads complexity of organizing Rel. Segment • Build & maintain site events for friends • Create community of • Recruit partners • Facilitates arranging • Organizers: Single advocates through a creative activities for a women Facebook page group • Organizers: Young wives • Loyalty rewards with active social lives, no • Restaurants that deliver • Facilitates organizing • Referral incentives kids • Restaurant delivery groups of friends along • Organizers: Single men sites similar interests or stages • Participants: Single • Restaurants that host Key in life Channels people large groups • People want to Resources participate in a mystery • Participants: Young married couples with no • Tech event organized by their • Dedicated website kids • Sales force: customer friend • Customer acquisition • People wanting to and partner acquisition • Facilitates collection of through Facebook & indirectly set up single • PR funds Google ads friends • Customer service agents • Reduces social awkwardness of getting to know new people Costs Revenue streams structure •Share of revenue from food ordered for delivery through the site • Customer Acquisition Cost •Share of revenue for group prix-fixe pre-pay menu • Build/maintain site •Ad revenue • Overhead •Booking fee from organizers Total Validated Hypotheses: 23 Total Invalidated Hypotheses: 2 Total Untested: 5
    20. 20. Lessons from class • Team dynamics can make or break a start-up ▫ Lot easier to work on something you are passionate about • Important to move beyond the right side of the canvas • Need to separate emotion from reason ▫ Recognize time to pivot
    21. 21. Acknowledgements• TEAL Bridge would like to thank ▫ Mentors ▫ Interviewees ▫ Classmates
    22. 22. Backup
    23. 23. Metrics that matter Key Metric Why it matters 1 Average CPC Determines acquisition cost Conversion rate (visitors who Impacts customer 2 sign-up) acquisition cost 3 Usage rate (sign-ups who organize Impacts customer a mingle) acquisition cost 4 % Mingles ordering delivery Key revenue stream 5 % Mingles organizing prix-fixe Key revenue stream % Returning (% organizers who Impacts lifetime value 6 return subsequent year) % Participants turned Acquisition cost virtually 7 Organizers zero; so lowers average acquisition cost
    24. 24. Average acquisition cost declining dueto network effects Acquisition cost per organizer$14$12$10 $8 $6 $4 $2 $0 Year 1 Year 2 Year 3 Year 4 Year 5
    25. 25. Gross Margin Analysis Year 1 Year 2 Year 3 Year 4 Year 5Population of US 300,000,000 300,000,000 300,000,000 300,000,000 300,000,000Percent of US unmarried 44% 44% 44% 44% 44%Percent of target population who clicks 1% 2% 6% 8% 10%Conversion rate (percent who sign-up) 10% 10% 12% 14% 15%Usage rate (percent who organize a mingle) 10% 12% 15% 16% 18%New Organizers 13,200 31,680 142,560 236,544 356,400Participants 105600 253,440 1,140,480 1,892,352 2,851,200Participants turned Organizers 10,560 25,344 114,048 189,235Existing Organizers 0 6,600 19,140 80,850 158,697Total organizers 13,200 48,840 187,044 431,442 704,332% Returning 50% 50% 50% 50%% Participants turned Organizers 10% 10% 10% 10%Number of participants per mingle 8 8 8 8 8Number of mingles organized per year 2 2 2 2 2Mingle revenuePercent of mingles paying fee 0% 0% 0% 0% 0% $Charge per mingle organized through site $ 4.99 $ 4.99 $ 4.99 $ 4.99 4.99Total mingle revenue $ - $ - $ - $ - $ -Delivery revenuePercent of mingles ordering delivery thru site 15% 15% 15% 15% 15% $Average order amount per person $ 5 $ 5 $ 5 $ 5 5Commission on order 2% 3% 4% 5% 5% $Total delivery revenue $ 3,168 $ 17,582 $ 89,781 $ 258,865 422,599
    26. 26. Group in-restaurant revenuePercent of mingles hosting event in-restaurantthrough site 10% 10% 10% 10% 10%Average order amount per person $ 20 $ 20 $ 20 $ 20 $ 20Commission on order 5% 10% 15% 15% 15%Total in-restaurant revenue $ 21,120 $ 156,288 $ 897,811 $ 2,070,922 $ 3,380,795Ad RevenueNumber of visits/yr 1,425,600 3,030,720 9,416,352 14,011,536 18,834,658Ad revenue CPM $4 $4 $4 $4 $4Number of ads site 5 5 5 5 5Yearly ad revenue $ 28,512 $ 60,614 $ 188,327 $ 280,231 $ 376,693Total yearly revenue $ 52,800 $ 234,485 $ 1,175,919 $ 2,610,018 $ 4,180,087Average revenue/organizer $ 4.0 $ 4.8 $ 6.3 $ 6.0 $ 5.9CostsCPC $ 0.12 $ 0.10 $ 0.08 $ 0.06 $ 0.04Average cost to accquire $ 12 $ 5 $ 3 $ 1 $ 1Total Ad expense $ 158,400 $ 264,000 $ 633,600 $ 633,600 $ 528,000Gross Margin $ (105,600) $ (29,515) $ 542,319 $ 1,976,418 $ 3,652,087
    27. 27. What would it take to be a $10M/Yrrevenue business• 20% usage rate• 10 people per mingle• Each organizer conducting 3 mingles/year• 55% organizers return YoY• 20% participants turned organizers
    28. 28. Google Adwords Lillian-can you make this pretty 208 clicks in 7 days Avg. CPC = $0.22
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