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Bozzy engr 245 lean launchpad stanford 2020

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business model, customer development, e245, engr245, lean launchpad, lean startup, stanford, startup, steve blank

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Bozzy engr 245 lean launchpad stanford 2020

  1. An Intelligent household concierge service for working moms
  2. Mackenzie Branigan MBA ‘21, Hustler Chuma Kabaghe MSCS ‘20, Hacker Malika Mehrotra MBA ‘21, Picker Lydia Hylton MBA ‘21, Hacker 118 User Interviews 500+ Survey Responses 15 Customer Betas week 1 Predictive to-do list app week 10Smart reminder & concierge service We’ve come a long way in 10 weeks...
  3. … of working moms are burning out from the weight of their household responsibilities 52% Mental Load has a big impact... … of working moms say they handle all family and household responsibilities 86% … of working moms say their responsibilities create mental load 69% 56 Million Women Bright Horizons Modern Family Index: Sample of 2,082 Americans with at least one child under the age of 18. … of moms with kids under 18 are employed full time 75%
  4. agenda drunken walk1 trough of despair2 finding our footing3 light at the end of the tunnel 4
  5. drunken walk 1 Weeks 0-2
  6. Predictive to-do list app that executes on your tasks the initial idea Week 0
  7. Bozzy Key Partners Key Activities Value Propositions Customer Relationships Customer Segments Key Resources Channels Cost Structure Revenue Streams API Partners Voice Integration Free up time spent on mundane tasks User research Algorithm dev. Dev team & capital Effective AI Social media marketing R&D Marketing Partnerships Advertising Personal services partners Working moms (niche) Busy people (mass) Our original business canvas lacked clarity...
  8. we received strong validation of the pain point “ ” Every little thing takes time. All of that stuff keeps pinging in the back of your mind until it gets done. I have a running list in my head of things I have to do. It is very stressful and not efficient. “ ”118 interviewed 500+ surveyed -Sarah R. -Meg G.
  9. but we also got feedback on what people really wanted “ ” I don’t really want another productivity app. What I really need help with is meal prep, cooking, laundry and cleaning. “ ”-Allison S. -Brooke T.
  10. Smart plugin to your existing tools that helps execute & outsource the premature pivot ...we designed a solution to a problem we didn’t fully understand yet... Week 2
  11. trough of despair 2 Weeks 3-4
  12. we met three major setbacks Industry experts tried and failed in this space Low CTR & engagement on website Consumers weren’t saying they wanted this solution 21 3 Week 3
  13. and we were uncertain about our target user business model canvas ? Week 4
  14. finding our footing 3 Weeks 5-6
  15. survey confirmed target market of working mothers On a scale from 1 to 10, how overwhelmed do you feel by the responsibilities of your personal life? Week 5
  16. survey indicated customers are price sensitive when it comes to outsourcing... What is the biggest factor that prevents you from outsourcing additional tasks? 60% cited cost 15% said it’s easier to do yourself 10% said they don’t know what’s out there Week 5
  17. ...and need help remembering tasks When something you need to do falls through the cracks, what are the most likely reasons? Week 5
  18. Morning Evening 🛌 🛌 🛌 🛌 🛌 🏃 🛌 ♀️ 🛌 🛌 ♀️ 👩 👧 👧 🍳 🚗 👩 🛌 💻 👩 🛌 💻 🛌 👩 🛌 💻 👩 🛌 💻 👩 🛌 💻 🚗 🛌 🛁 👩 🛌 🍳 👩 👧 👧 🛌 🛌 🛌 ♀️ 🛌 🛌 🛌 we refined target user to working moms once we understood a day in their lives business model canvas
  19. light at the end of the tunnel 4 Weeks 7-10
  20. An Intelligent household concierge and reminder service for working moms the current idea Weeks 7-10
  21. the real MVP in action business model canvas remember your tasks... Bozzy, remind me to file my taxes by April 15 You got it! I’ll remind you when you’re free Remind me to text Sam about meeting Tuesday It’s Tuesday! Have you texted Sam yet? Tuesday, 9:00 AM Not yet, will you remind me tomorrow? Will do! :) ...and execute on them Remind me to buy nespresso pods I’m on it! Do you want a reminder at the store or should I order them for you on Amazon? I need a gift for a 7 year old boy by 3/31 I’m sending over some options! Do you need a card?
  22. We validated our hypothesis at the Watermark Women’s Conference Malika hugged by a mom 27 moms interviewed, 5 signups 100% said this service would be useful
  23. 👩💼 Katie 👩💼 Kim 👩💼 Singari 👩💼 Mandy 👩💼 Keren 👩💼 Shivani 👩💼 Radhika 👩💼 Liz 👩💼 Erica 👩💼 Sarah 👩💼 Meg 👩💼 Nina 👨💼 Edgar 👩💼 Lauren 👩💼 Jennifer we decided to test a chatbot hypothesis
  24. I would definitely pay $40 a month to keep using Bozzy. Testimonials Before using Bozzy I was always forgetting things. Now, knowing that I have that reminder in place and not having to worry is invaluable. “ ” As soon as I texted something to Bozzy, it truly felt like it was offloaded. It freed up my headspace. “ ”Bozzy saves not only time, but also the decision fatigue of having to deal with tasks. “ “ ”15 customer betas served by concierge model
  25. highlights from the end of lean launchpad first organic signup online first SALE GET getting kicked out of Bing Nursery
  26. Bozzy Key Partners Key Activities Value Propositions Customer Relationships Customer Segments Key Resources Channels Cost Structure Revenue Streams User research Algorithm dev. R&D Our final business model canvas... Voice Integration (Siri, Alexa) Dev team & capital Effective AI Calendar apps, email Community groups Motivation & Inspiration Delegation & Collaboration Communicate with entire family Partnerships & Promotions In-app Ads Grow: Referrals, upsell Keep: Community, personalized, ease of use Working Moms with working partners, kids ages 2-15, suburban, HH $100K+ Service Providers User Acquisition Live personal assistants Provide smart reminders Categorize and prioritize to-do list Usage based upsell Take action on certain tasks
  27. what’s next for Bozzy Mackenzie Branigan Chuma Kabaghe Malika Mehrotra Lydia Hylton Applying for accelerators Full time Full timePart time Part time Weeks 10+
  28. a huge thank you to our mentor and the teaching team
  29. Appendix
  30. the economics are not yet clear business model canvas cost revenue Remembering Only Remembering + Execution Low Case High Case Low Case High Case Monthly Revenue $10 $40 $100 $200 Monthly P.A. Cost $0 $0 $40 $100 Monthly Churn 4% 4% 4% 4% CAC $200 $100 $250 $100 GROSS LTV $240 $960 $1,440 $2,400 NET LTV $40 $860 $1,190 $2,300
  31. “Mental Load”
  32. improved ad campaigns quadrupled our CTR first ad CTR final ad CTR 0.6% 2.6%