2. Team & Motivation UofT Industrial Engineering + NBTC Information Systems and Human Factors Stage Zero Solutions Abridged History:- Dissatisfied with information overload…- Favor Exchange- Life Resume- Sharismo
3. What We Say in Elevators Sharismois… For anyone… Who is dissatisfied with the limitations of existing review/local search websites. Our product is a location-based Q&A site That allows you to get answers about a particular place or local business. Unlike Yelp or Yahoo! Answers, We connect users directly to area experts and businesses, allowing for a personal experience.
4. The Problem Scenario: New Year’s in North York Scenario: Just Visiting San Francisco General: Social Networking Problem Specific: Business Communication Problem Traditional Q&A is nice to have, but rapid, reliable and relevant information is crucial.
5. The Solution Making users happy:- Rapid search for location of interest- Relevant information only- Reliable information refined through user feedback Sharismo does it better:- Talk directly to area experts- Two-way communication with local businesses
6. MVP (Min. Viable Product) Feature 1: Q&A functionality with geo-identification Feature 2: Users pre-select places they are familiar with Feature 3: Users only see questions related to their recorded locations Feature 4: Users can join tribes related to their interests/culture/location
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11. Business Model – Part 1 Potential Revenue Sources- Users (Premium accounts)- Ads (Banners, Sponsored Links)- Businesses (Subscription model) Existing Internet Business Models: Indirect: ads, lead gen, affiliate (CPA) ex. Yahoo! Answers, Google, Shopping.com Direct: subscription, virtual goods ex. Yelp monthly plans: $325, 500, 1000(Source: Andrew Chen, Revenue, andrewchenblog.com)
12. Business Model – Part 2 Website is free to use (ask/answer) NO banner advertisements- Not effective (Facebook 4/10000)- Intrusive and annoying Subscription-based model- Businesses sign up (basic: $199/mo.)- Promote good contributors- Get recommended, drive traffic “Put your business on the (social) map”
13. Know Thyself Not trying to jump the “chasm” yet First: make a good (useful) product Product-centric value attributes(for early adopters):- Fastest- Easiest to use- Elegant architecture- Unique architecture- Product price(Source: Geoffrey A. Moore, Crossing the Chasm)
14. Viral Growth Strategy Make the experience like a game:- SocialPoint System, User levels - Promote feedback, Exchanges- Fun, Compelling, Addictive.. & Useful! Lower “buy-in”:- Facebook/Google Friend Connect- Tech Blogs, Mavens- Automated Emails- Landing pages, SEO/SEM (Source: Amy Jo Kim, Putting the Fun in Functional)
15. Metrics of Choice Acquisition: users come through channels Activation: enjoy 1st visit (happy!) Retention: come back multiple times Referral: like product, tell others Revenue: conduct monetization behaviour Channels: High Volume (#) Users: Low Cost ($) Why: High Conversion (%) (Source: Dave McClure, Startup Metrics for Pirates, 500hats.com)
16. Next Steps Advisory Services:- Financing and Funding Strategy- Business Planning- Social innovation/entrepreneurship Legal services- web/startup oriented, local, right sized, affordable- Rob Hyndman (Hyndman Law)- Suzanne Williams (Venture Law Assoc.)
