Pop up party_presentation final - Lean Startup Machine NYC

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Lean Startup Machine NYC April 4, 2011 Molly SiemsJustin SamraRosemary MorrettaMichell CardonaDavid NewellManuel Pineyro

description

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

Transcript of Pop up party_presentation final - Lean Startup Machine NYC

Page 1: Pop up party_presentation final - Lean Startup Machine NYC

Lean Startup Machine NYCApril 4, 2011Molly SiemsJustin SamraRosemary MorrettaMichell CardonaDavid NewellManuel Pineyro

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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.

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ASSUMPTIONS

AssumptionsPARTIERS

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

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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

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CUSTOMER ACQUISITION FUNNEL

Craigslist Ads

Facebook Ads

Face-to-Face Interviews

Phone Interviews

Email Campaigns

Landing PagesSurveys

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CustDev End Results Venue Hosts Party Seekers

Average Price Range $80 – 800 per night $10/person$100 – 500 per night

Surveyed 20 in person500 automatic

58 in person individuals123 automatic

Responded 10 in person3 automatic

24 responded in person12 responded automatic

Conversions In current talks with 10 currently 9 people in total responded

CUSTOMER FEEDBACK

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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

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EMAILS:AIRBNB

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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

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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

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FUTURE TESTING AND ITERATING

• Further assumptions to test:1. Partiers will pay a security deposit (test

different $ amounts)2. 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

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