Pop up party_presentation final - Lean Startup Machine NYC
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FInalist presentation for Lean Startup Machine NY on April 03, 2011

FInalist presentation for Lean Startup Machine NY on April 03, 2011

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  • Thus, we have proved an consumer interest and willing to pay!!!

Pop up party_presentation final - Lean Startup Machine NYC Pop up party_presentation final - Lean Startup Machine NYC Presentation Transcript

  • Lean Startup Machine NYC April 4, 2011 Molly Siems  Justin Samra  Rosemary Morretta  Michell Cardona  David Newell  Manuel Pineyro
  • PROBLEM
    • Urban socials in their 20’s and 30’s live in cramped apartments and are not able to throw dinner parties for more than 3 or 4 people.
    • Space in apartments and commercial buildings is underutilized.
  • ASSUMPTIONS Assumptions PARTIERS Invalidated/Validated? Lessons Learned Notes 1. Urban socials want to throw dinner parties in private spaces. Validated Positive interview feedback; landing page hits; Craigslist responses; Airbnb NY and DC so far 2. Urban socials will pay to throw dinner parties in private spaces. Validated “ “ 3. Urban socials want to throw dinner parties in other peoples’ apartments. Semi- Validated (TBD) “ “ We tested for this on the landing page by listing commercial and residential spaces
  • 4. Landlords and Condo Boards want to make extra money by renting unused units for the evening. Invalidated; PIVOT B to B is not the right channel Many buildings in New York are co-ops and they have strict rules against partying 5. Apartment owners/renters want to make extra money by renting their spaces for the evening. Validated Airbnb responses; friend responses 6. Apartment owners/renters are tolerant of the risks associated with strangers throwing dinner parties in their apartments. Semi-validated Airbnb responses; friend responses; documented reservations We will need to test this hypothesis further with security deposits and releases from partiers
  • CUSTOMER ACQUISITION FUNNEL Landing Pages Surveys Craigslist Ads Facebook Ads Face-to-Face Interviews Phone Interviews Email Campaigns
  • CUSTOMER FEEDBACK CustDev End Results Venue Hosts Party Seekers Average Price Range $80 – 800 per night $10/person $100 – 500 per night Surveyed 20 in person 500 automatic 58 in person individuals 123 automatic Responded 10 in person 3 automatic 24 responded in person 12 responded automatic Conversions In current talks with 10 currently 9 people in total responded
  • THE PROOF IS IN THE PUDDING
    • Mr. L.C. @ $100/night
    • Mr. K.Y. @ $350/night
    Ms. E.Y. @ $800/night *Listed on Airbnb @ $200
  • EMAILS: AIRBNB
  • MVP
    • MVP 1: Landing page that collects customer information and proves demand
    • MVP 2: Deal brokerage between partiers and venue hosts
    • FUTURE MVP 3: Basic site that performs brokerage function electronically
  • PAIN SOLUTION
    • PARTIERS: Pop Up Party provides residential and commercial spaces in which urban socials can throw dinner parties
      • # of people: 8 -16
      • spaces pre-screened for space, ambience, appropriate furniture
        • Note: we may bring in folding tables to solve furniture problem
    • VENUE HOSTS: Pop Up Party provides a safe platform through which apartment owners can rent out their space for an evening for extra cash
      • Leads are from Airbnb and word of mouth
  • FUTURE TESTING AND ITERATING
    • Further assumptions to test:
      • Partiers will pay a security deposit (test different $ amounts)
      • Venue hosts will be given adequate reassurance about potential damages through a security deposit
        • *If not, PIVOT and test whether partiers will sign a blanket damage release and whether this will give venue hosts adequate reassurance
    • Adding layered options (chef, DJ, etc) will increase partier conversion
  •