HATCH - PEER TO PEER SKILL EXCHANGE PLATFORM

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.”