Zhuolan Zhang (MHCI+D) program Apply to 2020 Fall
HATCH a peer-to-peer skills-exchange platform - 2019 Spring - Interaction Design - Entrepreneurship Learning - Instructor:Kate Rutter
Hatch is a peer-to-peer skills-exchange platform designed to create a more collaborative and conducive learning environment for students by encouraging them to help one another. It is a platform and encourages openness and collaboration in learning, so everyone can learn, grow and share with one another.
TEAM
OVERVIEW
Leo Zhuolan Zhang - CFO Nathalia Kasman - CEO Anchi Hsin - CTO Claire Xi Zhou - CMO
A 14-weeks entrepreneurial class created to help budding designers bridge their design skills with businesses. In this class, We spent the first part of the class trying to ; going back to the drawing board of ideas if the problem isn’t validated.
METHODOLOGY -
Steve Blank’s Customer Development process Lean Start-up Quantitative research Prototyping Usability testing
PROBLEM Students are constantly learning new things and often encounter hiccups in the process. They try to figure it out on their own but to no avail because Asking someone who has learned it before for help is faster and sometimes, more effective.
Our vision is to create a platform and encourages openness and collaboration in learning, so everyone can learn, grow and share with one another.
OUR DESIGN SOLUTION
MINIMAL VIABLE DESIGN FEATURES https://www.zhuolan.design/hatch
Learning & Sharing Goals
Chat
Suggested Peers
During sign-up, students will be prompted to put their learning and sharing goals.
After students have connected with one another, they can converse with their learning peers and get to know one another.
Hatch suggests peers to students by aligning their learning goals and interests. Students are able to connect with this pre-selected group of people after.
PROCESS Post huge posters that allowed students to write their responses around campus to gather feedback.
Brainstorm some possible business opportunities and interests during the class for our direction.
Discuss our persona, module, and product features. Design our minimal viable product to test our assumptions.
Debrief interviews, organize feedbacks and responses from students.
Design sheets, boxes, posters for marketing. Acquire potential users in a cost-effective way.
Launch our minimal viable product and acquire potential user.
Build connections between people who have an align learning and sharing interests.
Here is the data we collect from people who signed up for our project.
Create our business model canvas, clarify our target users.
Debrief feedbacks from the user, pivot our idea, and list new hypothesis to test out.
Find out our company value. Start to plan a schedule for our final pitch.
Mapping the Learning Journey, and design presentation for our pitch.
Design revenue model and calculate cost structure.
Based on our interview result, we created our own marketing funnel.
We had an ask of $520,000 to kickstart our product and achieve our next milestones and pitched this to a group of 11 investors where 9/11 of them invested, totalling the investment to $1,681,500.
BY ZHUOLAN ZHANG https://www.zhuolan.design/
TEAM HATCH
An
Claire
(CTO)
(CMO)
Leo (CFO)
Nat (CEO)
Previously:
Previously:
Previously:
Previously:
Intern, OgilvyOne
Intern, YouSpace
Intern, Sozo Studio
Cofounder, Galavant Magazine
Intern, 58.com Inc
Intern, Rocky Design
Brand & Community Lead, DynaOptics
What do you do when you’re learning something and you get stuck?
“There’s no tutorials at all or if there is,
Problem-solving alone isn’t the most effective way!
it’s confusing.” —Jamie “I can’t find the info that I need because I don’t know the terminology.” —Jieying “I don’t know how to narrow down on a broad subject to start learning.” —Heather
“Having someone show me how to do it is much more efficient.” —Elijah, Student (Interviewee)
Problem For students, it’s hard to ask for help when:
•
Limited connections; it’s outside your circle of friends
•
One-sided; resulting in hesitation to ask for help
Problem
Solution
For students, it’s hard to ask for help when:
Peer-to-peer skills sharing app that encourages the learning journey by helping students:
•
Limited connections; it’s outside your circle of friends
•
One-sided; resulting in hesitation to ask for help
•
Expand connections
•
Mutually help one another
Mission
To cultivate an open, collaborative community where everyone can learn, share and grow with one another.
This is an existing behavior.
This is an existing behavior. 209 Facebook Learning Groups 9.3 million members 391k Subscribers in r/IWantToLearn
Who are we servingďź&#x; Total Addressable Market (People using educational platforms)
81 M
5%* based on our market funnel https://blog.cengage.com/college-students-tutors-and-study-help/ Statista, https://wwwstatista.com/statistics/183995/us-college-enrollment-and-projections-in-public-and-private-institutions https://www.class-central.com/report/moocs-stats-and-trends-2017/
Who are we servingďź&#x; Total Addressable Market (People using educational platforms)
81 M Serviceable Addressable Market (College students in U.S. using additional academic services)
12.7 M
5%* based on our market funnel https://blog.cengage.com/college-students-tutors-and-study-help/ Statista, https://wwwstatista.com/statistics/183995/us-college-enrollment-and-projections-in-public-and-private-institutions https://www.class-central.com/report/moocs-stats-and-trends-2017/
Who are we servingďź&#x; Total Addressable Market (People using educational platforms)
81 M Serviceable Addressable Market (College students in U.S. using additional academic services)
12.7 M Serviceable Obtainable Market (5% of Serviceable Addressable Market)
636,800 5%* based on our market funnel https://blog.cengage.com/college-students-tutors-and-study-help/ Statista, https://wwwstatista.com/statistics/183995/us-college-enrollment-and-projections-in-public-and-private-institutions https://www.class-central.com/report/moocs-stats-and-trends-2017/
Who else are in this space? Physical Connection
Tutorfly Tandem
Simbi
One-Sided Learning
Mutual Learning
(Learning exchanges)
(Tutoring, MOOC, etc)
Your Boss Coursera edX
Studyblue
Digital Connection
Who else are in this space? Physical Connection
Tutorfly Tandem
Simbi
One-Sided Learning
Mutual Learning
(Learning exchanges)
(Tutoring, MOOC, etc)
Your Boss Coursera edX
Studyblue
Digital Connection
So, how are we different?
School based
Convenience, trust
Mutual learning & sharing
Encouraging & strengthening bonds community
Personalized learning experiences
Flexibility
So, how are we different?
School based
Convenience, trust
Mutual learning & sharing
Personalized learning experiences
Flexibility
Encouraging & strengthening bonds community
So, how are we different?
School based
Convenience, trust
Mutual learning & sharing
Personalized learning experiences
Encouraging & strengthening bonds community
Flexibility
At Serviceable Obtainable Market (636,800)
Revenue
Costs
Total
Total
$ 1,962,882 Annually
—
$ 603,748 Annually
Profit Total
=
$ 1,359,134 Annually
Revenue Model (Annual) At Serviceable Obtainable Market (636,800)
$1,962,882
Free
Premium
Advertising
$0
$ 1,891,296
$ 71,586
$0.99/month 1 suggested connection per day 3 connections per month
50 connections/mth Initiate the connection Browse profiles
$0.99/m x 12 x 636,800 people x 25%* 25%: Based on our marketing funnel *0.22% average CTR in education industry: https://www.wordstream.com/adwords-click-through-rate https://blog.adstage.io/google-display-ads-cpm-cpc-ctr-benchmarks-in-q1-2018 https://www.wordstream.com/adwords-click-through-rate
Cost-per-click: $0.44 Cost-per-mille: $2.80/1000
$2.8 x 636,800 people/1000 x 3 connections x 12m = $64,189 $0.44 x 636,800* people x 0.22%* x 12 = $7,397
Costs (Annual)
$603,748
At Serviceable Obtainable Market (636,800)
Salaries
Fees
$ 467,000
$ 6,600
7 employees
Legal & Accounting
4 Founders: $60,000*4 Lead Dev: $110,000 Data Scientist: $75,000 Customer Support: $42,000
Legal: $4200 Accounting: $2400
Based on Glassdoor Salaries *https://nuphoriq.com/create-a-marketing-budget/
Office Supplies & Logistics
Marketing
$ 124,748
$ 5,400 20% of total cost*
At Serviceable Obtainable Market (636,800)
Revenue
Costs
Total
Total
$ 1,962,882 Annually
—
$ 603,748 Annually
Profit Total
=
$ 1,359,134 Annually
For the past 5 weeks,
For the past 5 weeks,
Concept Validation 30 Interviews
For the past 5 weeks,
Concept Validation 30 Interviews
Concept MVP 6 sign-ups
For the past 5 weeks,
Concept Validation 30 Interviews
Concept MVP 6 sign-ups
Early version of the Hatch experience
Online marketing activities & On-site recruitments 74 sign-ups 12 experiences
In 3 weeks,
Online marketing activities & On-site recruitments 74 sign-ups 12 experiences
117 scans 81 sign-ups 12 experiences
Why Now? According to National Center for Education Statistics,
78%
of U.S. students are using academic services
77.2M x 78% =
60.2M 77.2M = total students in US https://nces.ed.gov/pubs2010/2010023.pdf https://www.census.gov/newsroom/press-releases/2017/school-enrollment.html
Why Now? According to National Center for Education Statistics,
78%
27%
77.2M x 78% =
60.2M x 27% =
of U.S. students are using academic services
60.2M 77.2M = total students in US https://nces.ed.gov/pubs2010/2010023.pdf https://www.census.gov/newsroom/press-releases/2017/school-enrollment.html
of U.S. students are willing to pay
16.2M
Next 10 months
Past 5 weeks
Concept MVP 81 sign-ups 12 experiences
Next 10 months
Past 5 weeks
Concept MVP 81 sign-ups 12 experiences
Now
Digital Prototype Usability testings in progress
Next 10 months
Past 5 weeks
Now
in 4 months
Concept MVP 81 sign-ups 12 experiences
Digital Prototype Usability testings in progress
Digital MVP
Next 10 months
Past 5 weeks
Now
in 4 months
in 10 months
Concept MVP 81 sign-ups 12 experiences
Digital Prototype Usability testings in progress
Digital MVP
17,000 users
$520,000 For the next 10 months.
Build MVP Hires (Lead developer, Data Analyst, Customer Support) Scale adoption
“Love this project, everyone share their knowledge with each other and we will live in a better world.” —Anonymous Commenter on our poster
Thank you! https://weareteamhatch.wixsite.com/mysite @weareteamhatch
“love this project, everyone share their knowledge with each other and we will live in a better world”
Appendix
Appendix
1. Molecule 2. Marketing Funnel 3. Growth Rate 4. Financials 5. Business Model Canvas 6. Competitors vs. Hatch 7. Growth Strategy 8. User Flow 9. Algorithm 10.Past Pivots 11. Acquisition Experiments 12. Partnerships 13. Expert Interviews
College Students who are seeking for academic help
Hard to ask for help
• •
Limited connection One-sided
P2P Skill-sharing site/app
SOM = 636,800？
Competitors: User growth in early stage 81 Sign-up( in 3 weeks) 1500 total students
= 5%
• Tandem: 5M userbase -the second year; • Coursera: 4M userbase -the first year; Market size:
• Tandem: 5M • Cousera: 35M https://www.class-central.com/report/https://www.class-central.com/report/coursera-2016-review// https://realbusiness.co.uk/apple-helped-tandem-language-app-gain-thousands-users/
https://www.crunchbase.com/organization/tandem-4#section-funding-rounds
1st Year
2nd Year
Breakeven Point
10 ~ 11 months 195,868 people
BMC
Cost Structure
Revenue Model (Annual at Serviceable Obtainable Market)
$0.99/m x 12 x 636,800 people x 25%* =
$2.8 x 636,800 people/1000 x 3 connections x 12m = $64,189
$ 1,891,296
$0.44 x 636,800* people x 0.22%* x 12 = $7,397
$ 71,586
Competitors
Tutoring VS. Hatch
Fee
Mutual/Equal
Common Experiences
Flexible
Tutor
$75-$100/h
No
No
Depends
Hatch
$0.99/month
Yes
Yes
Yes
“You’ve changed the conventions of what it means to ask for help. Instead of lacking something, you’ve made it more about benefitting other people.” —Brooke Hessler, Director of Learning Resources @ CCA
User flow
Onboarding
Creating your profile
Suggested
Chat & Feedback
Connection Made
User Retention
How do we connect students?
In Consideration: MVP:
Learn
Share
Complementary interest
Learning goals Learning styles Personality Scheduling Skills level Comfort levels Group Learning
Past experiences Assumption 1: We only need to pair people up by their complementary interests.
Assumption 2: People will have a more fulfilling learning experience if they can select and browse their own learning peers.
Assumption 3: By giving them more flexibility (in terms of time, location etc), the learning experience will be more comfortable.
Assumption 4: Peers will have a more comfortable first-time experience if provided with conversation guides or prompts.
Result 1: FALSE. Knowing specific info about each others’ learning goals will create a better learning experience for both.
Result 2: Students want the flexibility to do both.
Result 3: Flexibility contributes to a more natural experience; easier to break the ice.
Result 4: TRUE. Hatch starts the conversation and help to orientate the conversation.
Feature 1: Specific goals on profile creation stage. (+prompts on how to write it).
Feature 2: Browse or see suggestion.
Feature 3: Chat. Time and date recognition to add to Google calendar.
Feature 4: Conversation starter by hatch.
Specific information is needed for learning exchange to be efficient.
“I want to teach other tons but don’t know how to start.”
HMW…
“Not prepared before meeting so I can’t be of help.”
Help prepare both parties prior to the exchange so their expectations are met?
—Brandon
—Tara
Matches might have different expectations— learning, sharing & goal. HMW… Help prepare both parties prior to the exchange so their expectations are met?
“Understanding dynamics is important.” —Brandon
“Want match’s problem to be similar to mine.” —Jackie
Initial interactions can be awkward; comfort level is important.
“I’m not sure how open the conversation can/should be.”
HMW…
“I like people who can converse and communicate naturally.”
Facilitate the interactions so both parties can be comfortable with one another?
—Yao
—Brandon
Learning about other people’s way of working is inspiring. HMW… Match people of diverse backgrounds so they can inspire one another?
“Good to meet people from different background.” —Jen
Partnerships
Schools
Complement schools’ tutoring services
Massive Open Online Courses
Connecting people to others who have learned it before
Expert Interview
Brooke Hessler, Director of Learning Resources (CCA)
“You’ve changed the conventions of what it means to ask for help. Instead of lacking something, you’ve made it more about benefitting other people.”
Expert Interview
Brooke Hessler, Director of Learning Resources (CCA)
“Oftentimes, the person who can help you is one who have been in your shoes. They have a holistic perspective of what you’re going through and are able to relate to your experience.”
Expert Interview
Brooke Hessler, Director of Learning Resources (CCA)
“Tutoring services in schools are very expensive…you’re basically paying for someone to sit and wait there for a whole day…Hatch could complement these services to lower those costs.”