Nikita Andreev

Joey Zeng

Sharismo

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

What We Say in ElevatorsSharismo is…

*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.

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.

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

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

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)

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”

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)

Viral Growth Strategy

*Make the experience like a game:- Social Point 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)

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)

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.)