llp team17 final presentation
DESCRIPTION
TRANSCRIPT
Zhaoyu LiMBA
Team#17 (Former) Career/Employer Review
1/14
Mockup
Ruiqi HuM.S. Management
Linwei ChenM.S. Management
Day & Project
Day 1 Sheccess
Day 2 Sheccess
Day 3 Mockup
Day 4 Mockup
Day 5Mockup
After-ClassMockup
Total interviews
CustomerDiscovery 58 25 40 10 38 257
290-83 Sheccess-345 Mockup
January 2013
Idea EvolutionDay1: Sheccess
Women’s Career Advice Website
• “Why women only?”• “How can you compete with other career advice websites?” • “What value are you providing exactly?”
Day2: SheccessWomen’s Career-based
Social Network
• “There are too many social network!”• “Wouldn’t that further limit women’s social networking?”• “I’d rather join women’s small groups and get a mentor
there…”
Day3-5: MockupPeer to Peer Mock Interview Platform
• “Who will use it?”• “Why would people be motivated to give
interviews?”• “How do you guarantee that the
interviewers are qualified?”
Customer Feedback
2/14
Customer Discovery (345 interviews) Value Prop.
-93% of the students (college & grad sch.) think mock interviews are essential-80% of the students (college & grad sch.) want an easier and cheap way to do mock interviews
-Provides a platform and powerful video tools for online peer to peer free interview practice or paid service
-25% of the students (college & grad sch.) need to do case interviews with other students
-Provides a platform and online tool with casebooks for quick and one-on-one case interview practice
-60% of the students (college & grad sch.) are willing to give interviews if paid ($20 per interview avg.)-50% of the students (college & grad sch.) are willing to pay for mock interviews ($15 per interview avg.)
-Provides interviewers with a part-time job to give interviews-Offer interviewees a chance to choose their interviewers at a lower price
-15% of the students (college & grad sch.) are willing to share their interview videos in order to get valuable feedback-68% of the students (college & grad sch.) want to watch other students’ interview videos
-Enable interviewees to get more feedback about their performance by posting the video-Provides students a chance to learn how others are doing interviews
Customer Discovery
3/14
Target Customers
Want to help each other with Mock Interviews
Seek a part-time job by giving interviewsFeel happy and honored to help
(Alumni)
Extremely experienced
mentors
Students (College& grad. Sch.)
Professionals
Current Target
Desired Users
4/14
Final Business Model Canvas
- Students preparing for internship/full time jobs interviews
- Students seeking a part-time job by giving interviews
-Platform building/maintenance
-Online tools/packages development
- Free or cheap customized P2P video mock interview
-Full interview toolkit (e.g: consulting cases, interviewee folder, question bank…)
- Annotated Recorded video for later review
- Convenience scheduling
-School Career Center
-Alumni Association
-Company recruiting teams
-Interview preparing workshops
-Career advice institutions/website/groups
- Platform Development- Product Promotion- Maintenance
-5% commission fee from paid interviews-$10/mo. Premium service-Advertisement (books, companies…)
- Interview tools - Active users- Interview question bank (case bank)
Get:Career Websites, student groups, Free trailsKeep:Level + Rating system, CustomizationGrow:-Word of mouth
-Peer to peer community-Online self-service platform
5/14
Value Proposition:- Fast and easy matching of
practice partners- Online tool with Casebooks
and question bank
Value Proposition:- Interviewee gets cheap
interview service- Interviewer finds a way to
help others and earns pocket money
- Recorded Video for future review
Interviewer(Interviewee)
Free P2P
Interviewee InterviewerPaid Service
Business Model
Channels• School Career Office• Career websites• Student Career groups• Alumni Associations
Go-to-market
Interviewee(Interviewer)
6/14
Customer Segments
C. Both
There are three types of target customers:
A: only serves as interviewers (with prior professional experience or specific domain knowledge) - gets paid for offering mock interview services
B: only plays the role as interviewee (job seeker but unwilling to help other job seekers) - pays interviewers for mock interviews
C: job-seeking peers wiling to help each other prepare 1-on-1 case/mock interviews – free mock interviews between partners
A. Interviewer only
B. Interviewee only
7/14
Sign in with LinkedIn account
Complete profile and preference
How to use Mockup?
Options: Instant Match Up or Set Up Appointments
E.g.: Set Up an Appointment: Search for an interviewer
View interviewers’ profiles, levels and ratings
8/14
Choose available time slots;Send request and resume (optional)
Get Started!• Make full use of the
video tool kit (Recording, casebook, question bank, user’s folder, whiteboard, etc.)
• Interviewee can mark, replay and write feedback for the interviewee
Waiting for the interviewer to confirm…
9/14
Revenue Model
Mockup
Paid Service$$$$
5% fee
$ PremiumService
$10/mo.
$$
PremiumService
$10/mo.
$$
Advertisements
$$*Premium Service: advanced searching, access to other users’ posted video and accelerated level upgrading
10/14
US Market SizeUS college and grad students
Need mock
interviews
Willing to pay for
interviews
Total: 17.5 M1
Served: 12.25 M
1. National Center for Education Statistics, Digest of Education Statistics, 4/28/2013
2. Mockup Survey, 1/17/14
70%2
50%2
Target: 6.125 M
$15 (avg./yr.)
Market Size: $91.875 M
5% commission fee
1. Revenue (commission): $4.59 M
2.Revenue (Premium Service): 12.25 M*30%*$20/yr.=$73.5M
3.Revenue (Advertisement Clicks): 12.25 M* $5/yr=$61.25M
11/14
Break-even AnalysisHypotheses:1. Fixed & Variable costs: First year$30,000/yr. (platform development & maintenance, video
tool development)2. Average revenue per user: $30/yr. (paid service commission, premium service, ads click)
Break-even Point:Mockup will begin to make profit from the fourth year.
Break-even Analysis
Year 1 2 3 4 5
CostsFixed Cost $20,000 $20,000 $7,000 $5,000 $5,000
Variable Cost $10,000 $10,000 $20,000 $20,000 $20,000
Revenue per user
Commission $1.00 $2.00 $4.00 $4.00 $4.00
Premium Service $5 $6 $8 $10 $12
Ads click $3 $5 $8 $10 $10
# of Users 300 500 1000 1500 2000
Profit -$27,300 -$23,500 -$7,000 $11,000 $27,000
12/14
120-Day Plan120-Day (16-week) Plan
Week 1 2 3 4 5 6 7 8
Plans
Product Development (Alpha Version)- Product designing- Pivoting based on users' feedback- Demo with our basic features (video tool, profile search, etc.)
Partnership Building- Partnership discovery (school career center, student groups, etc.)- Potential cooperation discussion
Customer Development Phase I- NYC Universities (Columbia, NYU, etc.) promotion- Online promotion (free premium trail)- Referral Program
Channel discovery and developing
System testing
Week 9 10 11 12 13 14 15 16
Plans
System testing (cont.) Customer Development Phase II- Ivy League promotion- Social network, career network promotion
Product Development (Beta Version)- Enhanced features & Users' feedback & Testing- Complete product with all designed features
Customer Development Phase III- US colleges and universities- Overseas markets
13/14
Our Current Progress- We finished designing the new wireframe and are in the process of making
an introduction video.- Recently, we are participating in a Business Idea Competition.
14/14