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Pykapack final 2013 stanford e245

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  • 1. Transforming the Backcountry Culinary Experience Collin Wallace . Haley Robison Katerina Opocenska . Saul Carlin96 interviews total 1
  • 2. Team PykaPack: 4 MBA StudentsTeam member Background Previous Outdoor experience experienceHaley Robison BBA Finance Management NOLS consulting, Outdoor educationSaul Carlin BA Government Digital media Weekend warrior product & biz devCollin Wallace BS Engineering Founded mobile Kilimanjaro payments & ordering platformKaterina MSc Computer Science Management Casual hikerOpocenska consulting
  • 3. We love the outdoors and we wanted tostart a business. Like any summit quest,we knew there would be cloudy daysand a tough trail ahead, but the viewfrom the top is always worth thework…right? So off we went.So how did the journey go?
  • 4. HOW DID IT GO? THE PYKA JOURNEY IN SUMMARY DEE! We learned a Nailed ton! Feels good to presentation! invalidate! Customers First at REI love Return to trough Steve brings us! outdoorGroup! us down to segmentIdea! earth Second trough/Bungled pivot attempt Failed MVP A/B Test
  • 5. We started with a view of our desired destination: PykaPack ready to launch! 10 weeks, 3 teachers, a couple rotating mentors?, and 1 Lean Launch Pad site…Will we have a viable business, will we reach the mountain top?
  • 6. Initial elevator pitch PykaPack provides customers a fulfilling outdoor cooking experience without the stress of backcountry meal preparation byproviding online meal planning andordering for customized trip-ready food packageWE’RE INTHE CLASS! 6
  • 7. TRAIL MARKER 1“Delicious backcountry meals made simple”• Food for outdoorsOtherwise known as, the original idea….
  • 8. “Delicious backcountry meals made simple”
  • 9. “Delicious backcountry meals made simple” What we did What we learned• Sketched website wireframe • 3 main customer segments with• Advertised our services on Craigslist different needs and Meet-Up • Jobs to be done and main pain-• Estimated market size based on points industry reports • Customers were most excited about• Explored affiliate/network space the online planning system• Talked to food suppliers • Food was a challenge but many hikers were “okay” with existing options (freeze dried food)
  • 10. TRAIL MARKER 2“Plan unforgettable backcountry trips with friends”• Food & gear for outdoorsOtherwise known as, maybe there is more to thisthan just food? 10
  • 11. “Plan unforgettable backcountry trips with friends”
  • 12. “Plan unforgettable backcountry trips with friends” What we did What we learned• Tried to extend our value proposition • You can spend $37 on advertising and to gear and apparel get no paying customer• Run Google adWords and Facebook • How to collect customer information campaigns • How to offer a product and accept• Acquired first customer lead (Dee) payment and prepared full menu for her • Confirmed need for gear coordination (tested her willingness to pay)
  • 13. We Help You Pack What You Need…TRAIL MARKER 3“We help you pack what you need”• Tool for outdoor trip organizersOtherwise known as, did we take awrong turn? Where are we going?!?!
  • 14. We Help You Pack What You Need… 14
  • 15. “We help you pack what you need” What we did What we learned• Diverged business model to • Specific reason needed for address any and all group customers to digitize inventory coordination issues including: (e.g., move, event, etc) • Occasion specific shareable gear, event planning, and • Hesitations around sharing items personal inventory outside of a trusted network management • Need a specific use case to address first, build a complete business, then expand UNIVERSAL PROBLEM
  • 16. THE FINAL TRAIL MARKER• “Your group’s pack list. Simplified”Otherwise known as, we’ve zoomed out toomuch…let’s focus somewhere and get itright…back to the outdoors!
  • 17. 17
  • 18. “Your group’s pack list. Simplified” What we did What we learned• Identified “10 Numbers That • Multiple failure points in conversion Matter” funnel• Built full end-to-end MVP • Negative unit economics• Ran customer acquisition A/B test • Customer acquisition costs too high
  • 19. DESTINATION?So, although we didn’t reach out original“mountaintop” destination, we are contentwith where this journey has taken us. We’veweathered the Steve Blank storm, hardenedour business acumen, and strengthenedbusiness model canvas muscles for the nexttime around.The sun may be setting on E245, but ourstart-up dreams are not…
  • 20. THE TOP 5• EASY TO HEAR WHAT YOU WANT TO HEAR• 10 LITTLE NUMBERS THAT REALLY MATTER• CUSTOMER DEVELOPMENT IS THE CHEAPER AND SMARTER WAY TO INVALIDATE A BUSINESS…• …BUT YOU MUST UNDERSTAND AND DEVELOP THE BACKEND BUSINESS TOO• PASSION IS ABSOLUTELY NECESSARY BUT NOT SUFFICIENT SECRET SAUCE 20
  • 21. Team PykaPack’s Journey1 Week 1 -4: “Delicious backcountry meals made simple” • Food for outdoors2 Week 5: “Plan unforgettable backcountry trips with friends” • Food & gear for outdoors3 Week 6-8: “We help you pack what you need” • Tool for outdoor trip organizers We Help You Pack What You Need…4 Week 9: • “Your group’s pack list. Simplified” • Final conclusions
  • 22. Team Name PykaPack ORIGINAL CANVAS• Bulk food suppliers • Coordinated and Eliminate hassle and • Outdoor nutrition expert • Educationally-focused (e.g., Sysco) and/or fair convenient online meal improve food options and food provider organizations and trade suppliers planning and food available for extended • Merchants schools (e.g., Boy and• Outdoor merchandisers product delivery outdoor trips with: Girls Scouts of America, (e.g., REI) • Algorithm • Customized online Stanford Outdoor• Packaging/shipping optimizes for meal planning Education) partners TBD dietary needs • Product delivery of pre- • Small to mid-size• Outdoor groups (e.g., • Goods packaged rationed, non- recreation outfitters NOLS) for ease of use perishable food and (e.g., guided rafting,• Food companies (e.g., • Education, community supplies Adventures Cross- CLIF) resource • Information source and country)• Gear providers (e.g., community for outdoor • Individual and group MSR) enthusiasts – recipes, hikers, bikers, skiers, how-tos, environmental etc (e.g., Appalachian • Physical (e.g., friendly travel tips, etc Trial hikers) warehouse, food • Online marketing inventory) Increases accessibility of • Merchant Marketing • Human (e.g., labor, authentic outdoor • Direct Mail management) experience to customers • Partnerships (e.g., REI) • Relationships with with limited/no expertise outdoor oriented orgs (marketing) • Financial • Website/tech platform• Fixed cost for systems/warehouse development (long-term) • Sales revenue from food, supplies, and gear• Variable costs for food, packaging, and shipping • Advertising revenue• Economies of scale – purchase bulk goods • Shipping and handling
  • 23. LaunchPad Cent ral “Delicious backcountry meals made simple” KEY PARTN ERS KEY ACTIVITIES VALU E PRO PO SITIO N S CU STO M ER CU STO M ER SEGM EN TS RELATIO N SH IPS Bu lk fo o d su p p lie rs (e .g ., Pro b le m So lvin g : Pro vid e Co n ve n ie n ce : Elimin a t e s Ge t : On lin e Ma rke t in g » B2 B: Ou t d o o r Ed u ca t io n Sysco ) » cu st o me r me a l p la n s wit h sh o p p in g /p ro cu re me n t » Ge t : Dire ct Ma il » o n lin e syst e m » ch a lle n g e » Fa ir t ra d e su p p lie rs » B2 B: Exp e d it io n To u r Ge t : Dire ct Ma il » Pro d u ct io n : Efficie n t me a l Cu st o miza t io n : Ca t e rs t o Le a d e rs » Ou t d o o r me rch a n d ise rs p a cka g in g » d ie t a ry (e .g ., REI) » Ge t : Dire ct Ma il » B2 C: Bo y & Girl Sco u t re st rict io n s/p re fe re n ce s Pro b le m So lvin g : Tro o p Le a d e rs » » Ke e p : In fo rma t io n Ou t so u rce d Kn o wle d g e Re so u rce s » Co mmu n it y â € “ re cip e s, sh ip p in g /lo g ist ics » Co n ve n ie n ce : Elimin a t e s B2 B: Ou t fit t e rs » KEY RESO U RCES CH AN N ELS h o w-t o s, e n viro n me n t a l Pr oduct i on: Meal p a cka g in g h a ssle » Ou t so u rce d p a cka g in g » pr epar at i on » frie n d ly t ra ve l t ip s, e t c » B2 C: Exp e rie n ce d Acce ssib ilit y: Ma ke s Ba ckco u n t ry Ca mp e rs » Ou t d o o r g ro u p s (e .g ., Ph ysica l: Wa re h o u se » Dire ctAdver s:i We b sit e » GET: Sa le t si ng i n Pr obl em sol vi ng: - b e t t e r o u t d o o r fo o d NOLS) » magazi nes f or B2C: Weekend W r i or s ar Pr ovi del: addi d iIn ve n t o ry Ph ysica Fo o t onal a cce ssib le t o Dire ct Sa le s: hi ker s/ cam s » per » r esour ces ( r eci pes » in e xp e rie n ce d u se rs » Te le ma rke t in g » Fo o d co mp a n ie s (e .g ., et c) » CLIF) » GET: Adver t i si ng i n B2C: Gr oup Tr i p Food Hu ma n : Wa re h o u se Risk Re d u ct io n : Avo id Dire ct Sa le s: nat i onal par ks » Pl anner s » Ge a r p ro vid e rs (e .g ., Pickin g & Pa cka g in g » d ie t a ry Te le ma rke t in g » MSR) » re st rict io n /a lle rg y/p e rish a b le GET: Ads / l eaf l et s i n Hu ma n : Ma n a g e me n t » Dire ct Sa le s: We b sit e » fo o d issu e s » out door shops » Suppl i er s: Cam ng pi CO ST STRU CTU RE Re la t io n sh ip s: Ou t d o o r REVEN U E STREAMn e r St o re s: Ou t fit t e rs Pa rt S f ood m chant s » er De sig n : Imp ro ve d KEEP / GROW Speci al : Org a n iza t io n s » » t a st e /fo o d q u a lit y » one- of f of f er s / Fixe d Co st : Wa re h o u sin g » Fin a n cia l: Su p p lie r Cre d it Pa rtu e :r Pe o a e-l m h -e n » Tra n sa ct io n Redi scountSt vire s: Hig oldssa le s » ve n n e r-me a foai d Per f or mance: » su p e rma rke t s » Fixe d Co st : Pa cka g in g Syst e ms » Opt i m zat i on f or n sa ct io n ReKEEP e : Pe r-d a y fo o dt sa le s » i Tra ve n u / GROW Loyal y : wei ght and vol um » e pr ogr am w t h benef i t s i Onl i ne In t e lle ct u a l: We b sit e /Me a l I ndi r ect : Va ria b le Co st : Fo o d » Tra n sa ct io n Re» n u e : Ge a r & me rch a n d ise sa le s » ve Se le ct io n Pla t fo rm » Ret ai l er s ( Am azon. com ) Super i or out door Va ria b le Co st : Pa cka g in g » » exper i ence » Pricin g : Ma rg in a l d e cre a se wit h in cre a se d g ro u p /o rd e r size » Rel at i onshi ps: Va ria b le Co st : Sh ip p in g » Nat i onal Par ks » Accessi bi l i t y: cu rrin g Re ve n u e : Se g me n t -b a se d p ricin g - t rip le a d e rs/fre q u e n t Re ca mp e rs p a y mo n t h ly/a n n u a lly fo r b lo cks o f me a ls »
  • 24. PykaPack 2.0 – our new canvas• Wholesale drop- • Packing list generation “Users” • GET: Online marketing “Users” shippers (Doba.com, • Multi-item purchase keywords related to WorldWideBrands) “bundling” • Coordinate “stuff” trip/emergency planning • Vacationers• Affiliate networks • Large-scale user needs with other & coordination • Campers (Avantlink, Commission acquisition people and groups • KEEP: Provide ability to • Movers Junction) • Activation/lead • Reference a database sync online purchases • Business Travelers• Retail partners on recommended to digital asset list • Emergency Preppers generation for affiliates items • GROW: Earn • Data collection • Generate collective points/rewards for “Customers” and individual packing getting friends to list lists so you don’t forget stuff • Marketers anything • Retailers • One stop shop for • Merchandisers anything you might • Financial need “Users” • IT/website/tech platform • Drop shipping to final • Community destination • Direct: Website • Indirect: Embedded tool “Customers” on travel, moving sites • Know what consumers “Customers” own • Know what consumers • Direct: Website share • Direct sales? • Know what consumers take on trips• User acquisition costs Revenue from “Users”• Drop-shipper/affiliate fees• IT/website/tech development • Wholesale margin on goods OR affiliate commissions• Direct sales force? • Advertising revenue Revenue from “Customers” • Database subscription revenue
  • 25. “Your Group’s Pack List. Simplified.”LaunchPad Cent ral KEY PARTN ERS KEY ACTIVITIES VALU E PRO PO SITIO N S CUSTO M ER CU STO M ER SEGM EN TS RELATIO N SH IPS Bu lk fo o d su p p lie rs Pro b le m So lvin g : Co n ve n ie n ce : Ge t : Dire ct Ma il » B2 C: Exp e rie n ce d (e .g ., Sysco ) » Pro vid e cu st o me r Elimin a t e s Ba ckco u n t ry Ca mp e rs Ge t : Dire ct Ma il » me a l p la n s wit h o n lin e sh o p p in g /p ro cu re me n t » Fa ir t ra d e su p p lie rs » syst e m » ch a lle n g e » Ge t : Dire ct Ma il » B2 C: We e ke n d Ou t d o o r Pro b le m So lvin g : Cu st o miza t io n : Ca t e rs Wa rrio rs » me rch a n d ise rs (e .g ., GET: Ad ve rt isin g in Kn o wle d g e Re so u rce s t o d ie t a ry REI) » ma g a zin e s fo r B2 C: Gro u p Trip Fo o d » re st rict io n s/p re fe re n ce s h ike rs/ca mp e rs » Pla n n e rs » » Ou t so u rce d KEY RESO U RCES CHAN N ELS sh ip p in g /lo g ist ics » B2 C: Trip Pa rt icip a n t s Co n ve n ie n ce : » Elimin a t e s p a cka g in g Ou t so u rce d Ph ysica l: Wa re h o u se » h a ssle » Dire ct Sa le s: We b sit e p a cka g in g » » Ph ysica l: Fo o d Acce ssib ilit y: Ma ke s Ou t d o o r g ro u p s (e .g ., In ve n t o ry » b e t t e r o u t d o o r fo o d Dire ct Sa le s: NOLS) » a cce ssib le t o Te le ma rke t in g » Hu ma n : Wa re h o u se Fo o d co mp a n ie s (e .g ., in e xp e rie n ce d u se rs » Pickin g & Pa cka g in g » Dire ct Sa le s: We b sit e CLIF) » Risk Re d u ct io n : Avo id » Hu ma n : Ma n a g e me n t Ge a r p ro vid e rs (e .g ., d ie t a ry CO ST STRU CTU RE REVEN U E STREAM S Fixe d Co st : Wa re h o u sin g » Tra n sa ct io n Re ve n u e : Ge a r & me rch a n d ise sa le s » Va ria b le Co st : Pa cka g in g » Pricin g : Ma rg in a l d e cre a se wit h in cre a se d g ro u p /o rd e r size » Va ria b le Co st : Sh ip p in g » Re cu rrin g Re ve n u e : Se g me n t -b a se d p ricin g - t rip le a d e rs/fre q u e n t ca mp e rs p a y mo n t h ly/a n n u a lly fo r b lo cks o f me a ls » Va ria b le Co st : Fo o d » Tra n sa ct io n Re ve n u e : Pe r-d a y fo o d sa le s » Eco n o mie s o f Sca le : Bu lk Pu rch a sin g » Li c e n se d fr o m b u si n e ssm o d e lg e n e r a t i o n .c o m u n d e r a Cr e a t i ve Co m m o n s At t r i b u t i o n -S h a r e Al i ke 3.0 Un p o r t e d Li c e n se
  • 26. Coordination pain point = universal problem for individuals and groups What does Joe What does Joe What can Joe What does Joe need? have? borrow? buy? “Hey Matt, can I borrow Joe Joe enters your skis?” Joe has a gets/customizes and/or checks “pending a list inventoryevent”; he is going skiingand isn’t sureexactly what he needs Joe sees what Joe knows Joe has list of his friends what he needs items he needs have to buyOUR NEW 1 Provide Joe with 2 Help Joe manage 3 Help Joe compare 4 Provide purchase a customizable his inventory; inventory with or rent option;VALUE list think: “Mint.com friends to drop ship JoePROPOSITION for your stuff” coordinate and what he is share gear/stuff missing