Time Saver Columbia Univ 2020

Time Saver
Interviews since last class: 8
Interviews to date: 58
Aaron Smallberg
Alexis Levinson
Emily Udal
Matson Conrad
Matt Jones

9. Cost Structure
- Software engineers to develop, maintain, and improve the
platform
- Cost of establishing relationships with financial institutions /
charities
5. Revenue Streams
- Accrued Interest
- Immediate transfer fees
7. Key Partners
- Social Media Platforms
- Financial Institutions
- Charities
8. Key Activities
- Application
Development
- User engagement with
investments
6. Key Resources
- Development Team
- Mobile Platform and
Servers
1. Value Proposition
- Effectively limit the
amount of time or
number of uses of social
media, TV and video
games per day
- Increase financial
health and knowledge of
millenials and GEN Z
4. Customer
Relationships
Get: Advertise /
Referrals / Influencers
Keep: Effectively
manage social media use
Grow: Investments have
realized returns
3. Channels
- Mobile Application
(iOS and Android)
2. Customer Segments
- Any social media or
entertainment user who
wishes to limit their time
on applications
- Parents who wish to
limit their child’s social
media use
Time Saver Business Model Canvas - Day 1

Hypothesis: People want to
better manage their social
media use
Solution: Have users pay
themselves as incentive to
to curb their social use
What we first thought...

Hypothesis: People want to
better manage their social
media use
Validation: Approximately
50% of social media users
interviewed feel they need
to better manage their
social media use
What we found...

Solution: Have users pay
themselves as incentive to
to curb their social use
Feedback: Social media
users do not associate
personal savings and social
media use with investment
accounts — in fact,
interviewees were confused
by this value proposition we
offered
What we learned...
Journalist, 31
"I don’t see those as related ... It’s
money that I’m getting when I’m
60-something. I want to look at
Instagram now."

9. Cost Structure
platform
charities
5. Revenue Streams
- Accrued Interest
- Individual & Group Challenges
- Betting vs. friends
- SaaS Subscription fees
7. Key Partners
(Instagram, Facebook,
Snapchat, TikTok,
YouTube, Mobile
Games, Streaming
Services)
- Charities
- Employers (Human
Capital Managers /
People Analytics /
Benefit Design
Managers)
8. Key Activities
- Application
Development
investments
6. Key Resources
- Development Team
Servers
- Effectively manage the
amount of time or
media, TV and video
games per day by utilizing
a financial incentive and
comparing time to other
activities
- Improve employee
mental health wellness
and productivity
4. Customer
Relationships
Get: Advertise /
Referrals / Influencers
Keep: Effectively
realized returns
3. Channels
(iOS and Android)
Segment 1:
wishes to manage their
time on applications
Segment 2:
- Employers seeking to
improve employee mental
health wellness and
productivity
- Parents who wish to limit
their child’s social media
use

Hypothesis: Two potential
customer segments exist,
social media users AND
employers who wish to
reduce their employees’
social media use
Solution: Financial
incentives to effectively
After Day 2: What we thought...

Interesting Fact: Scientists at the University of
Pennsylvania found that limiting social media
usage by a total of 30 minutes per day can have
a significant improvement in mental health
Hypothesis: Two potential
customer segments exist,
social media users AND
employers who wish to
reduce their employees’
social media use
Validation: Employers are
concerned about social
media use as it relates to
employee productivity and
mental health and wellness.
Social Media users are not
compelled to immediately
change their behavior
After Day 2: What we found...

BIG IDEA
Big Idea: People
respond to financial
incentives —
especially if
someone else pays
them!
"If someone pays me to
reduce social media usage, I
definitely would” Consultant, 28

Solution: Financial
incentives to effectively
Feedback: Employers are
willing to pay their
employees to effectively
manage their social media
use
PIVOT: Change
business model
from B2C to
B2B
By end of Day 2 We learned...
“Let me know when you have the
product ready, we are definitely
interested.” General
Counsel of HR /
Outsource Firm
Key Insight

9. Cost Structure
platform
- Cost of selling and implementing software at firms
charities
5. Revenue Streams
- Accrued Interest
7. Key Partners
Snapchat, TikTok,
YouTube, Mobile
Games, Streaming
Services)
- Charities
- Employers (Human
Capital Managers /
People Analytics /
Benefit Design
Managers)
8. Key Activities
- Application & Software
Development
investments
6. Key Resources
- Development Team
Servers
amount of time or
media per day by
utilizing a financial
incentive and comparing
time to other activities
- Improve employee
and productivity
4. Customer
Relationships
Get: Advertise / Referrals /
Sales Influencers
Keep: Time is effectively
managed
realized returns Employee
and productivity
increased
3. Channels
(iOS and Android)
- Enterprise Software
Segment 1:
-Segment: Employers
seeking to improve
employee mental health
wellness and productivity
use

9. Cost Structure
platform
charities
5. Revenue Streams
- Accrued Interest
7. Key Partners
Snapchat, TikTok,
YouTube, Mobile
Games, Streaming
Services)
- Charities
- Employers (Human
Capital Managers /
People Analytics /
Benefit Design
Managers)
- Benefit Brokers
8. Key Activities
Development
investments
6. Key Resources
- Development Team
Servers
amount of time or
media per day by
- Improve employee
and productivity
4. Customer
Relationships
Sales Influencers
managed
mental health wellness and
productivity increased
3. Channels
(iOS and Android)
- Direct / Web Sales
- Customer
Implementation &
Success
Segment 1:
-Segment: Employers
seeking to improve
employee mental health
wellness and productivity
use

“A lot of the concerns were about
productivity... recently we were
talking to companies about hospital
grade pumps for mothers, which
would cut the pumping time in half,
so those could employees spend
more time working.”
By end of Days 3 and 4: What we learned...
● Companies would be willing to buy a SaaS solution if it
reduced social media usage among employees which
could be measured and correlated with improvements
in productivity and mental health and wellness
● Employee Polling, Innovation Labs, and Direct Sales
are effective channels to reach customers
● Measuring and evaluating ROI is important for
decision makers on implementing and keeping
products
● Other than financial incentives (i.e. work from home,
casual dress days) could be equally impactful as cash,
especially for higher-earning employees
● Unintended workplace conflict associated with social
media usage between colleagues (i.e. differences in
political opinion)
● Privacy is a concern among end users - “Don’t want
big brother to know everything, what if I don’t make
it?”
Former Benefits Consultant at Mercer

9. Cost Structure
platform
charities
5. Revenue Streams
- Accrued Interest
- Implementation fee
-Immediate transfer fees
7. Key Partners
Snapchat, TikTok,
YouTube, Mobile
Games, Streaming
Services)
- Charities
- Employers (Human
Capital Managers /
People Analytics /
Benefit Design
Managers)
- Internal Benefits
Committees
- Benefit Brokers
8. Key Activities
Development
investments
6. Key Resources
- Development Team
Servers
amount of time or
media per day by
- Improve employee
and productivity
4. Customer Relationships
Sales Influencers
managed & Demonstrated
ROI
mental health wellness and
productivity increased
3. Channels
(iOS and Android)
- Direct / Web Sales
- Customer
Implementation &
Success
Segment 1:
-Segment: Employers
(CHROs, CFOs) seeking to
improve employee mental
health wellness and
productivity
use
Here’s where we ended - Day 5

Here’s Where We Ended
● Determined features of the initial MVP
● Perks matter to employees - both financial and “flexibility perks”
● Continued to refine understanding of benefit acquisition process in companies
○ Our research suggests it takes about 1 year to implement a program
Going Forward
● Validate necessity of MVP with HR Professionals and CFOs of target companies
○ Determine which features are most requested
● Validate pricing plan with target firms
● Continue end user discovery and feature requests
● Explore additional customer segment of parents and education institutions
● A/B Testing of monitoring social media and its impacts on mental health and wellness
and productivity
● Hire engineer (technical co-founder) to develop V1.0 of the software and application
● Explore application of gathering data on all benefits to determine ROI on mental health
and wellness and productivity

MVP - Time Saver - Hot or Not?
Time Saver Monthly Dashboard for Wayne Enterprises
December 2019 November 2019
Cumulative Dollars Saved $1,345 M $1,125 M
Cumulative Hours Saved 15,732 14,325
Total Hours Saved per Month 1,407 1,239
% of Employees Achieved Company Goal 81% 73%
Avg Daily Time on Social Media 19 minutes 21 minutes
Other Employee Performance Data
Employee Satisfaction 3.6/5 3.5/5
Employee Productivity 4.1/5 4.2/5
“Very Hot”
— HR Professional

Gatekeeper/Influencer Archetype – Juliette
● Role: Chief HR Officer at ~1,000
employee firm
● Major Concerns: Employee retention,
recruitment of new employees,
employee productivity, employee
mental health
● Company Background: Company
already offers a suite of wellness
benefits
● Benefits Packages:
○ She finds her employees use new
benefits that come with a financial
or flexibility incentive
○ Reevaluates benefits programs
each year to make sure
competitive with the rest of the
market
● Has a teenage daughter whom she
has consoled through several
Instagram-triggered “meltdowns”
● Concerned about the impact of
social media on mental health
“I make recommendations. I’m
the person who moves
something forward or stops it.
But I report to the CFO, and he
cares most about the costs.”
Personal Life:

“We have been looking to improve
employee productivity and I believe
that Time Saver is the answer
because I can see the ROI.”
Customer Archetype – Ferdinand
● Role: CFO of at ~1,000 employee firm
where Juliette is the CHRO.
● Major Concerns: The company’s
finances
● Benefits: Has final say on whether or
not to add new benefits programs
● Decision Making: Unlikely to
seriously consider a new benefit if it
does not have Juliette’s strong
recommendation
● Most likely to say sign off on funding
a new benefits program if:
○ It costs very little but will look
good as a perk for employees
an prospective employees
○ It’s necessary to stay
competitive with the rest of the
market
Decision Factors:

The Opportunity
Total Available
Benefits
Market = $36B
Total Serviceable Market =
$15B in North America
160M Employees
Type of Business:
● Multi-Sided Marketplace
Type of Market:
● Improvement of an existing market
We’ve estimated that we will be able to
capture 10% of the 160M employees at
$35 per employee per year
Comparable Firms:
Zestful: $60 per year (admin fee)
Mindful: $95 per year
Calm: $70 per year
16M * $35 =
$560M per
year

Well-Being Apps
Time
Saver
Time Saver Petal Diagram

Time Saver Customer Segments
B2B Application:
● Corporations that do not require a majority of their employees to be on
social media as a core piece of their job function. Initial focus on
financial and professional services (i.e. consulting, accounting), law
firms, technology companies, and medical professionals
Economic Buyer:
● HR / Human Capital Managers, Health & Wellness Coordinators, COO /
CFOs / Managers that believe their employees are wasting work time on
social media during the work day
End User:
● Eligible employees who are willing to opt-in to an incentive program

Time Saver Value Proposition
Sources:
1) https://www.theladders.com/career-advice/new-study-limiting-social-media-use-benefits-mental-health
2) https://www.forbes.com/sites/alicegwalton/2018/11/16/new-research-shows-just-how-bad-social-media-can-be-for-mental-health/#860916f7af44
3) https://penntoday.upenn.edu/news/social-media-use-increases-depression-and-loneliness
“When you’re not busy getting sucked into clickbait social media, you’re actually
spending more time on things that are more likely to make you feel better about
your life” – Melissa G. Hunt, Department of Psychology in the School of Arts and Sciences at Penn
B2B Application:
● According to a study in the Journal in Clinical Psychology, scientists at the
University of Pennsylvania found that limiting social media usage by a total of 30
minutes per day can have a significant improvement in mental health
○ Indirectly, this can lead to an increase in employee productivity
Economic Buyer:
● Indirectly increase productivity by increasing the employees’ mental health and
wellness
End User:
● Financial incentive to participate in addition to health and wellness

Hypothesis Experiment Pass / Fail Test
Customer Segment
S1: Social Media Users
S2: Companies / Institutions
Interviewing social media users
(end user), managers / HR
managers, and parents
Pass:
● People have the desire to curb their social media use
● Companies/Institutions believe employees’ social media use negatively
impacts productivity and mental health and wellness
Value Proposition Interviewing social media users
managers, and parents
Pass:
● People believe they will effectively manage time
● Companies/Institutions will benefit from employee wellness
Channel Discussion with end users
Discussion with company HR
representatives
Pass:
● People find users/companies willing to sign up for the service
● Companies / Institutions find HR divisions or managers who would want
to work with us
Revenue Model Interviews with individuals
about their willingness to use
their money to curb personal
social media use
Saas Subscription Fee
Pass:
● People are willing to pay money to curb social media use and keep money
in their account for an extended period of time
● Companies/Institutions are willing to pay employees to change their
behavior

Hypothesis Experiment Results Iterate
Customer Segment
Segment 1: D2C
Application: Social media
use is an issue.
Segment 2: B2B
Application: There is a
concern in businesses that
employees waste time
during the day.
Interviewing social
media users (end user),
managers / HR
managers
● Approximately 50% of social media users feel they
need to manage their social media use
● Social media users do not associate retirement and
social media use with investment accounts — in
fact, interviewees were confused by the value
proposition we offered
● Gaming and competition incentives work primarily
for males
● Financial wellness/budgeting apps tend not to have
longevity with most users
● Higher willingness to pay and “stickiness” for B2B
versus B2C (i.e. outlier customer)
● Unintended workplace conflict associated with
social media usage between colleagues (i.e.
differences in political opinion)
● Companies are currently offering health and
wellness incentives, which are underutilized -
financial incentives can help encourage usage
● Pivot to a B2B application to
increase mental health and
wellness
● Continue interviewing
managers / HR Managers to
confirm benefits
● Pivot to the firm paying the
employee for reducing social
media use - People like and
respond to financial incentive
(Smoking Cessation)
● Continue interviewing End
Users to determine their
preferences and concerns
○ Interview about
usage during work
hours vs. off-hours
Value Proposition
Segment 1: Effectively
manage your time
Segment 2:Indirectly
increase productivity by
increasing the employees’
mental health and
wellness.
Interviewing social
media users (end user),
managers / HR
managers
● Currently no formal policies or incentives around
social media usage in companies - most companies
do actively monitor networks and restrict certain
sites, however limited to web browsers and
company phones
● Economic buyers worry about productivity of their
employees
● End users worry about privacy and what happens if
they do not meet the time goals
● Pivot to becoming a third
party that monitors and acts
as a conduit for awarding the
employees who meet target
usage
● Continue to interview about
the best incentives - financial
or other incentives (work from
home, casual dress days, etc.)

Time Saver Channel Strategy, Get Strategy, & Revenue Model
Channel Strategy:
● Direct Sales
● Web Sales
● Customer Implementation Team (Implementation of software on the network and
installation of app in phones)
● Customer Success Team (Delivery of monthly results to employers, increase app usage
among employees, delivery of incentive to employees)
Get Strategy:
● Trade Shows / Conferences (SXSW, UNLEASH America)
● Advertise (TLNT.com, Human Resources Today, Glassdoor.com)
● Partnerships with Benefit Brokers / Consultants (Marsh & McLennan, Willis Towers
Watson, Mercer)
● Direct contact with companies (cold emailing/cold calling)
Revenue Model:
● Yearly Subscription Fees

Hypothesis Experiment Pass / Fail Test
Channel Strategy Interviewing social media users
managers about requirement
Interviewing managers / HR
managers on incentive programs
Pass:
● Companies/Institutions believe employees’ social media use negatively
impacts productivity and mental health and wellness
● Companies have a history of utilizing incentive programs to change
behavior and see a benefit from it
● Employees demonstrate willingness to utilize the app
Get Strategy Interview social media users
managers to discuss
effectiveness of various
advertising campaigns, trade
shows, benefit brokers, direct
emails
Pass:
● Validation of attendance at conferences
● Validation of use of various HR platforms at target companies
● Validation of benefit partnerships
Revenue Model Interview Economic Buyer’s
willingness to pay for incentive
programs
Pass:
● Economic Buyers are willing to pay for the service

Hypothesis Experiment Results Iterate
Channels Interviewing social media users (end
user), managers / HR managers about
requirement
Interviewing managers / HR managers
on incentive programs
● Internal polling of what employees
benefits employees want
● Direct Sales - mental health and wellness
benefit / productivity
● “Innovation Lab” to screen new ideas
● End User - vacation days, work from home
● Continue to gather data on
which channels are most
effective and best way to
reach decision makers
● Evaluate ROI for benefit
applications
Get Strategy Interview social media users (end
user), managers / HR managers to
discuss effectiveness of various
advertising campaigns, trade shows,
benefit brokers, direct emails
● Employee polling
● Word of mouth
● Advertising
● Direct Sales
● Trade Show / Conferences are well
attended
● Companies >50
● Partnerships through
existing benefit companies
● Continue to refine specific
conferences / trade shows
● Other than financial
incentives (i.e. work from
home, casual dress days)
Revenue Model Interview Economic Buyer’s about
willingness to pay for incentive
programs
● SaaS Subscription Fee (3 year contract)
● Licensing Fee
● One day to 4 months approval process
● Most benefit renewals are cyclical - Oct /
Nov / Dec
● Continue to gather data on
effectiveness of SaaS
subscription fee vs licensing
fee and models with minimal
churn
● Gather data on PEPM plan

Time Saver Columbia Univ 2020

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Time Saver Columbia Univ 2020