Yobo Video Team14
 

Yobo Video Team14

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Yobo Video Team14 Yobo Video Team14 Presentation Transcript

  • Lean Launch Pad 2013.08.31 PERSONALISED PRACTICE: HOWYOU WANT. WHENYOU WANT. WHEREYOU WANT. A Health & Wellness Video Marketplace YOBO VIDEO Vanessa Resnick Roberto Soria Justin Stebbins Day 5, as of 9am
  • Lean Launch Pad 2013.08.31 Key Partners Value PropositionKey Activities Customer Relationships Customer Segments ChannelsKey Resources Revenue StreamsCost Structure • Instructors (collective body) • Video Supplier (TokBox) • Symbiotic relationship partners (i.e. Lululemon for yoga) • Develop & Maintain the Platform • Acquire instructors • Acquire members Instructors • More Customers • More Revenue • No Studio Costs • Access to Global Customer Base • Ability to market, manage schedule and collect payment in one place • Flexible hours • Automated / Self-Serve • Co-creation • Communities Instructors • Full-time professionals, but with excess capacity • Part-time professionals, looking for evening or weekend work • Professionals in low cost areas (i..e rural or developing countries) looking for higher rates Online • SEO and PPC • Social Media Word of Mouth • Instructors • References • Platform • (Eventual) Network Effect • Fixed Operational costs for platform development and maintenance • Fixed Operational Overhead costs (rent, utilities, etc.) • Variable costs associated with bandwidth / server usage • Variable costs associated with customer acquisition & demand creation • Transaction Commissions (charged to Instructor) • Advertising (potentially) Users • Busy professionals • Long Commutes • Odd hour workers • Stay at home moms • Parents with infants • Cost Sensitive, but want personalise instruction • Need specialists, but live far away • Frequent Travellers Users • Saves Time / Convenience • Flexible Hours • Cheaper • Personalised Instruction • Access • Enabling instructors and users of H&W services to conduct online virtual sessions Day 1 Canvas
  • Lean Launch Pad 2013.08.31 Key Partners Value PropositionKey Activities Customer Relationships Customer Segments ChannelsKey Resources Revenue StreamsCost Structure • Instructors (collective body) • Video Supplier (TokBox) • Symbiotic relationship partners (i.e. Lululemon for yoga) • Develop & Maintain the Platform • Acquire instructors • Acquire members Instructors • More Customers • More Revenue • No Studio Costs • Access to Global Customer Base • Ability to market, manage schedule and collect payment in one place • Flexible hours • Automated / Self-Serve • Co-creation • Communities Instructors • Full-time professionals, but with excess capacity • Part-time professionals, looking for evening or weekend work • Professionals in low cost areas (i..e rural or developing countries) looking for higher rates Online • SEO and PPC • Social Media Word of Mouth • Instructors • References • Platform • (Eventual) Network Effect • Fixed Operational costs for platform development and maintenance • Fixed Operational Overhead costs (rent, utilities, etc.) • Variable costs associated with bandwidth / server usage • Variable costs associated with customer acquisition & demand creation • Transaction Commissions (charged to Instructor) • Advertising (potentially) Users • Busy professionals • Long Commutes • Odd hour workers • Stay at home moms • Parents with infants • Cost Sensitive, but want personalise instruction • Need specialists, but live far away • Frequent Travellers Users • Saves Time / Convenience • Flexible Hours • Cheaper • Personalised Instruction • Access • Enabling instructors and users of H&W services to conduct online virtual sessions • Accountability • Cheaper Personalised Instruction • Ability to try new styles / methods / instructors • Female, 18 to 40 • Not hardcore fitness fanatic / athlete • Don’t live close to a gym • Disabilities, have trouble leaving house + + + ++ + +++ ++ ++ x + + + x + + + + + + Day 2 Canvas
  • Lean Launch Pad 2013.08.31 What We Thought • Both men and women would be interested • Flexible hours would be an attractive • People with long commute would be attracted to the service • Stay at home mothers and mothers with infants would be a large user group • Instructors would be interested in the service (more revenue, customers, etc.) What We’ve Learned, thus far • Females are interested, far more than males, and aged 18 to 40 (range will probably be narrowed, so far we’ve mainly spoken to late 20’s / early 30’s) • Personalized instruction at a cheaper price seems to resonate with the enthusiastic • Like the idea of some sort of real time feedback • Accountability is a major value proposition for users • Current hardcore fitness fanatics (i.e. 4+ intense sessions per week, including cross fit) are not users of this services, they A) believe they know what to do and/or B) the exercise (cross fit) isn’t suitable to online sessions (need space, spotter, etc.)) • People who have long commutes to work aren’t necessarily interested because of the long commute to work, but rather are interested if they have a long commute to the gym • Only spoken with one so far, but she actually like going to the gym as it was a chance for her to get out of the house and have some social interaction with the outside world (note: gym had a baby sitter) Day 2 Canvas
  • Lean Launch Pad 2013.08.31 Key Partners Value PropositionKey Activities Customer Relationships Customer Segments ChannelsKey Resources Revenue StreamsCost Structure • Instructors (collective body) • Video Supplier (TokBox) • Symbiotic relationship partners (i.e. Lululemon for yoga) • Develop & Maintain the Platform • Acquire instructors • Acquire members Instructors • More Customers • More Revenue • No Studio Costs • Access to Global Customer Base • Ability to market, manage schedule and collect payment in one place • Flexible hours • Automated / Self-Serve • Co-creation • Communities Instructors • Full-time professionals, but with excess capacity • Part-time professionals, looking for evening or weekend work • Professionals in low cost areas (i..e rural or developing countries) looking for higher rates Online • SEO and PPC • Social Media Word of Mouth • Instructors • References • Platform • (Eventual) Network Effect • Fixed Operational costs for platform development and maintenance • Fixed Operational Overhead costs (rent, utilities, etc.) • Variable costs associated with bandwidth / server usage • Variable costs associated with customer acquisition & demand creation • Transaction Commissions (charged to Instructor) • Advertising (potentially) Users • Busy professionals • Odd hour workers • Stay at home moms • Parents with infants • Cost Sensitive, but want personalise instruction • Need specialists, but live far away • Frequent Travellers • Females, 18 to 40 • Not hardcore fitness fanatics / athletes • Don’t live close to a gym / studio • Disabilities, have trouble leaving the house Users • Saves Time / Convenience • Flexible Hours • Cheaper Personalise Instruction • Access • Accountability • Ability for Variety • Enabling instructors and users of H&W services to conduct online virtual sessions • Ability to learn how to cook healthy + + + ++ ++ x + + + x + + + + + + + ++ + + + + + + • Early to mid-level professionals • Currently doing some sort of yoga / pilates • Seldom or not using a personal instructor • Earn less than <250k (would just do regular personal trainer) • Commute is less than 20 minutes OR greater than 45 • Fitness / hardcore athletes that want to learn how to cook ++ + + + ++ + + + + + + + ++ + + + + + Day 3 Canvas
  • Lean Launch Pad 2013.08.31 What We Thought (after day 1 / 2) • Flexible hours would be an attractive • After day 1 / 2, we didn’t think long commuters would be interested • Stay at home mothers and mothers with infants would be a large user group • Women, more than men, would be the most interested What We’ve Learned, thus far • Potential users seem to make less than $250k (already using personal trainers regularly) • Cost and Time / Schedule Flexibility are almost equally important, both seem to be the primary drivers • Users like the idea of some sort of real time feedback / interaction, beyond what they receive in a class • Users with busy schedules / odd hours that want personal instruction, but can’t find a schedule that works • People with commute times between 20 and 45 minutes do not seem to be users (7 out of 10 said no!). • Mixed reviews from mothers w/ infants and stay at home moms. Does not seem to be a driver given our current sample base Day 3 Canvas
  • Lean Launch Pad 2013.08.31 Key Partners Value PropositionKey Activities Customer Relationships Customer Segments ChannelsKey Resources Revenue StreamsCost Structure • Instructors (collective body) • Video Supplier (TokBox) • Symbiotic relationship partners (i.e. Lululemon for yoga) • Develop & Maintain the Platform • Acquire instructors • Acquire members Instructors • More Customers • More Revenue • No Studio Costs • Access to Global Customer Base • Ability to market, manage schedule and collect payment in one place • Flexible hours • Automated / Self-Serve • Co-creation • Communities Instructors • Full-time professionals, but with excess capacity • Part-time professionals, looking for evening or weekend work • Professionals in low cost areas (i..e rural or developing countries) looking for higher rates Online • SEO and PPC • Social Media Word of Mouth • Instructors • References • Platform • (Eventual) Network Effect • Fixed Operational costs for platform development and maintenance • Fixed Operational Overhead costs (rent, utilities, etc.) • Variable costs associated with bandwidth / server usage • Variable costs associated with customer acquisition & demand creation • Transaction Commissions (charged to Instructor) • Advertising (potentially) Users • Busy professionals • Odd hour workers • Stay at home moms • Parents with infants • Cost Sensitive, but want personalise instruction • Need specialists, but live far away • Frequent Travellers • Females, 18 to 40 • Not hardcore fitness fanatics / athletes • Don’t live close to a gym / studio • Disabilities, have trouble leaving the house Users • Saves Time / Convenience • Flexible Hours • Cheaper Personalise Instruction • Access • Accountability • Ability for Variety • Ability t learn how to cook healthy • Enabling instructors and users of H&W services to conduct online virtual sessions • Remote monitoring • Private Class / not- embarrassed + + + ++ ++ x + + + + + + + + + + ++ + + + + + + • Early to mid-level professionals • Currently doing some sort of yoga / pilates • Seldom or not using a personal instructor • Earn less than <250k (would just do regular personal trainer) • Commute is less than 20 minutes OR greater than 45 • Fitness / hardcore athletes that want to learn how to cook ++ + + + ++ + + + + + + + ++ + + + + + + + • -Middle Aged males, haven’t done yoga before and want private class • Middle aged females, in suburbia who are already doi class/video • -Sport rehab + therapists can stay in touch with clients not based in town (i.e. London / middle eastern) • Kids (parents want it) + + +++ +++ + ++ + + + + +++ + +++ ++ + + Day 4 Canvas
  • Lean Launch Pad 2013.08.31 What We Thought (after day 3) • Males would not be interested • Would mainly be for not heavily trained services (i.e. Yoga, Nutritionist, Pilates, etc). • Service would not be for kids What We’ve Learned, thus far • Middle aged men who want to learn yoga, but are embarrassed to go to classes are interested. • Middle aged women in suburbia are interested • Professional Therapists • Use it to “monitor patients” (i.e. make sure they do their rehab by scheduling appointments online) • Have patients who travel to city (i.e. London from Middle east) for treatment, then return from to their home (middle east). • Parents are want to have their kids do it • Tweaked (future) feature to facilitate customer acquisitions Day 4 Canvas
  • Lean Launch Pad 2013.08.31 Key Partners Value PropositionKey Activities Customer Relationships Customer Segments ChannelsKey Resources Revenue StreamsCost Structure • Instructors (collective body) • Video Supplier (TokBox) • Develop & Maintain the Platform • Acquire instructors • Acquire members Instructors • More Revs / Customers • Access to Global Customer Base • Remote Monitoring • Automated / Self-Serve • Co-creation • Communities Instructors • Full & Part-time professionals w/ extra capacity • Professionals in low cost areas (i..e rural or developing countries) looking for higher rates • “low mantenance” Physical Therapists • NOT full-time, fully scheduled / large studios Online • SEO and PPC • Social Media Word of Mouth • Instructors • References • Platform • (Eventual) Network Effect • Fixed Operational costs for platform development and maintenance • Fixed Operational Overhead costs (rent, utilities, etc.) • Variable costs associated with bandwidth / server usage • Variable costs associated with customer acquisition & demand creation • Transaction Commissions (charged to Instructor) • Advertising (potentially) Users • Early to mid career professionals ??<income<$250k • Long and Odd hour workers • Currently doing some sort of yoga / pilates • Pregnant / post pregnancy • Suburban Parents w/ kids • Females, 20 to 40, needing motivation and want personal feedback • Not hardcore fitness fanatics / athletes • Don’t live close to a gym / studio Users • Saves Time / Convenience • Flexible Hours • Cheaper Personalise Instruction • Access • Accountability • Ability for Variety • Ability t learn how to cook healthy • Private Class / Not- embarrased • Enabling instructors and users of H&W services to conduct online virtual sessions + ++ ++ + + + + + + + + ++ + + + + + + • Already doing some for of exercise, 2 – 4 times a week, often times yoga/pilates as well • NOT consistently using a Personal trainer • Commute is less than 20 minutes OR greater than 45 • Fitness / hardcore athletes that want to learn how to cook • 30 to 55 yr males, never done yoga before , • Kids (parents want) • 30 to 55 yr females in suburbia who are already y doing yoga classes / video • Have disability, trouble leaving the house • “low maintenance” rehab patients ++ + + + + + + ++++ + ++ + + + +++ + + + ++ +++ Day 5 Canvas (note: CR is covered) ++ + + + + + + + + + + + + + ++ + + + + + + + + + + ++ + + + + + + + + + + + + ++ + + + ++ +
  • Lean Launch Pad 2013.08.31 Users D1 D2 D3 D4 D5 Total # Spoken to: 10 8 13 6 37 Evangilists 1 2 1 4 Early Adopter 1 2 5 4 12 Late Adopter 3 3 2 8 Not Interested 5 3 4 1 13 Total 10 8 13 6 0 37 % of EV / EA's 20.0% 25.0% 53.8% 83.3% #DIV/0! 43.2% % of Yoga / US Pop 6.3% Instructors Day 1 Day 2 Day 3 Day 4 Day 5 Total # Spoken to: 3 0 7 1 11 Evangilists 1 1 2 Early Adopter 2 2 1 5 Late Adopter 0 2 2 Not Interested 0 2 2 Total 3 0 7 1 0 11 Total 13 8 20 7 0 48 1 would be an EA if healthy cooking sessions were available
  • Lean Launch Pad 2013.08.31 Value Prop Customer Segment • Affordable Personalised Instruction • ????<Income<250k • Convenience / flexibility / time saving • Early and mid-level professionals • Access • Have disability and are not able to easily leave the house • Accountability / Motivation • Already doing occasional exercise or some classes • Longer or Odd working hours WORK IN PROGESS • Learn to healthy cooking • Hardcore athlete / fitness fanatics • Privacy / lack of embarrasment • Middle Aged Men • (others – overweight?) • Physical Rehab / Monitor • “Low Maintenance”Physical Therapists / Patients • Suburban moms / middle age • Pregnant / post pregnancy • Kids (Parents want it) • Parents want it (why???)
  • Lean Launch Pad 2013.08.31 Get • Direct / Online (Google Adwords) • Initial acquisition of instructors through direct emailing • Provide Instructors with Social and Email Promotions Tools • Provide Users with Group Buying Tools (See follow on feature) Keep • Users: provide with Calorie & Exercise tracking ap • Instructors: provide with Scheduling Management Tools • Enable the ability for users and trainers to connect & follow • Allow the formation of support groups and communities • Receive Daily/Periodic Tips Grow • Increase intermediation fee (initially greater of $1 or 2%, per transaction) • Add Additional Features (see next slide) • Add additional markets (slide to follow) • Sale of Vitamins and Nutrition ($11B US market) • Sale of heath food and food plans ($100B+ US market) Sale of fitness clothing ($10B+ US market) • Targeted advertising (how much are pregnant women worth to retailers?) • “Sponsored Advertising” among instructors
  • Lean Launch Pad 2013.08.31 Follow-On Features
  • Lean Launch Pad 2013.08.31 5/10/100+ UsersVideo (i.e. Skype) The Virtual Class: One to Many (future) Each at home Instructor Video Classes • Allow live classes to be conducted – 1 instructor to many (i.e. 5 / 10 / 100+ users, all in their home) • Provide users with a tool & incentive for them to book and market a class • (I.e User posting to facebook “Join me! I’ve book a private class for $50 and need 4 more people, $10 each!!! This Saturday at 9am. www.yobo.com • Intermediation fee taken from instructor • note: group video session cost YoBo money (1 to 1 sessions are free)
  • Lean Launch Pad 2013.08.31 The Instructor Video Subscription Instructor Video Subscription • Instructors record and upload a series of their OWN video workouts. • Initially provided with a particular amount of free storage, then charged a monthly subscription fee beyond the limit • Users are able to subscribe to a given Instructor, paying a monthly fee (i.e. $5) for unlimited access to videos • Intermediation fee is taken from each monthly subscription (Instructor pays) Instructor Certification Verification Create the Ability for Instructors to Verify and Promote their Certification Credentials • Provides some users comfort, allowing the Instructor to receive higher rates
  • Lean Launch Pad 2013.08.31 Market
  • Lean Launch Pad 2013.08.31 Market Size Estimates: It’s Big Yoga Market (Yoga Paws* and Yoga Journal** ) 82% of people who practice yoga are women •23-34 year olds make up 40% •35-55 year olds make up 41% Approximately 70,000 instructors People who practice yoga often have a median income of $75,000 or higher and are looking for health benefits and stress reduction  Around 20M Yoga practitioners (Yogajournal.com – 2012) 8.7% of US Adults  Total Available Market (hypothesis): 1 class per week, $10 per class = $10B * http://www.yogapaws.com/market-analysis/ ** http://www.prnewswire.com/news-releases/yoga-journal-releases-2012-yoga-in-america-market-study-182263901.htm
  • Lean Launch Pad 2013.08.31 US Yoga Market Size Estimates Total Available Market Target Market Served Available Market Total Available Market: $10B (20mn x 1 class / wk @ $10/class x 50 wks) Served Available Market (How many people need/can use product?): $2B (Hypothesis: 10% of seg. 1, 30% of seg. 2, 20% of seg. 3) Target Market (first 3 years): $1.6B (30% of segment 2 and 20% of 3) Segment 1 Segment 2 Segment 3 Segment 4 Description Women 23-34 Women 35-55 Men Yoga Instructors Size 41% 42% 17% Approx. 70,000 Age Range 23-34 35-55 Any Any People/ Influences Friends and family, Entertainment industry, (Magazines, celebrities) Co-workers, Yoga instructors, Magazine articles Family and friends, Yoga instructors Yoga studio, Yoga school, Co-workers
  • Lean Launch Pad 2013.08.31 Disruptable H&W Services Fitness WellnessNutrition Spiritual • Yoga • Pilates • Elderly workout • Tai Chi • Spinning • Mat exercises (i.e. Buns & Tums) • Aerobics/Zumba • Weights/Trainer • “Low Maintenance” Rehab • Weight Loss (MOTIVATION) • Elderly • Diabetic • Sports • Heart / high blood pressure • Vegetarian • Other Disorders (i.e. Celiac) • Stress management • Sleep coaching • Meditation • Life coach • Smoking Sessation • Astrology • Career Forecasts • Dream Analysis • Fortune Telling • Kabbalah • Love & Relationships • Palm Reading • Past Life Reading • Psychic Reading • Religion • Sex & Intimacy • Tarot Reading Beauty & Fashion (Hair, Make-up, Dress) and Cooking as well
  • Lean Launch Pad 2013.08.31 Market Size Estimates: It’s Big • $28bn by 2016 for Health & Fitness Clubs according to IBISWorld • $7bn in 2012, growing at 7.7% - US Yoga market according to IBISWorld • “There are no companies with dominate market share in this industry” • Notable Diet / Nutrition Companies • $2.4bn - Jenny Craig • $1.8bn - Weight Watchers • Notable Supplement Companies • $2.4bn - GNC • Notable Gym / Fitness Providers • $1.0bn - Bally’s • $1.1bn – LifeFitness • $0.7bn - 24hr Fitness
  • Lean Launch Pad 2013.08.31 Where are the metabolically challenged? Hint: They probably speak English….
  • Lean Launch Pad 2013.08.31 $Bn's US Int'l WW Pilates & other Total Fitness Sessions Market Yoga TAM 10.0 50% 15.0 10% 16.5 Jenny Craig Total Revs 2.4 % of Nutrition Consulting 40% $ of Consulting 0.96 Weight Watchers Total Revs 1.8 % of Nutrition Consulting 40% $ of Consulting 0.72 Total WW and JC 1.68 % of Total market 50% Total Nutritional Market 2.52 2.52 Total Addressable market 19.02 Does not include: Advertising (sponsored listings or banner ads) Sell of products, vitamins and Nutritional food plans (a la weight watchers) If extrapolating beyond US YOGA
  • Lean Launch Pad 2013.08.31 Next Steps
  • Lean Launch Pad 2013.08.31 Refine / Narrow initial targeted Segment through more experiments (also learn how much it will cost to acquire) • Google Adwords  LaunchRock Landing Page (collect email addresses) • Pregnant / post labor • Yoga for Kids • Accountability • Yoga for Men • Etc. • Yoga in the Park / Subway / Community Space • Craigslist to Test for Regional Preferences • Square Foot Per House Trends (i.e. Texas vs. Manhattan) • Distance to Gym / Studio • Studio density • Fitness lifestyle • Etc. Attempt to create viral content for Demand Creation • Amass a list of Instructors that could be potentially interested • Provide them with “early beta access” to ensure users can find instructors Attempt to create viral content for Demand Creation • Short Funny Videos for each customer segment and/or Value Prop? • Short Insensitive Videos for each customer segment and/or Value Prop?
  • Lean Launch Pad 2013.08.31 What kind of company are we: Start up that is searching for a product / market fit and for which customers segments that fit occurs; once identified, if we can attract a sufficient number of customers in a profitable and repeatable manner.
  • Lean Launch Pad 2013.08.31 Proposed Hypothesis: The largest category of users for yoga/pilates will be females aged 18-44. Experiment: An email will be sent to distribution list from our network that says the following: “We are hosting one on one personal yoga sessions via the computer from your home on Thursday at a time of your choice for $20, we have only 5 spots available, first come first serve.” We will likely send this email out multiple times with different prices. Pass/Fail: a complete fail would be if no one responds at any price level. A fail of our hypothesis (the user group is female) but not a complete fail would be if the majority of the responders is not female aged 18-44.
  • Lean Launch Pad 2013.08.31 Proposed Hypothesis: The average person would think $20 is inexpensive for this service compared with all alternatives. Experiment: Using the previously described experiment but sending only to distribution list of yoga users. Pass/Fail: if the number of responders for $20 is much lower than $10 or the number of responders at $30 is not different from $20 our hypothesis is wrong.
  • Lean Launch Pad 2013.08.31 Proposed Hypothesis: The farther a person has to travel to go to a gym or training session, the more appealing it is to work out from home via computer. Experiment: Using a sample of people from launch.com, we will ask each person to make a choice between two options: a one on one yoga session with an instructor in person and a session via the computer with the same trainer. We will vary the amounts of time it will take to get to the personal trainer along with varying costs for each option. Pass/Fail: if there is a correlation with both the difference one is willing to pay for computer training and commute to gym as well as absolute amount to paid for in home training it will be a pass. If there is no correlation (or negative) it will be a fail.
  • Lean Launch Pad 2013.08.31 Proposed Hypothesis: If a person likes taking classes from a specific trainer, he/she will be more likely to take an online class with that trainer. Experiment: Host a free yoga session in one of the parks in NYC. After the class, ask each participant if they would like to book an online session (and pay) with the trainer. If they say yes, ask if they would prefer to book an online session with a different trainer at a slightly lower price point. Pass/Fail: A fail would be if no participants in the class are willing to pay for a follow up session or if the majority of people willing to take the session would prefer a slightly lower price for an unknown person.