kinection - lean startup machine nyc - 4.14.13
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Lean Startup Machine - 14 April 2013 - How the "Datable" startup team became "Kinection" - the pivot from daters to job seekers. (Original deck by Jason Lee and team - edited deck by Will K.)TRANSCRIPT
New York City – April 14thLean Startup Machine
ORIGINAL PITCHDATABLE = ♥ + ✓
Problem• Lack of honesty in online
dating profilesProject Name• Datable
High Level Pitch• Online Dating Profile
Verification, Klout for Dating
DATABLE = ♥ + ✓ONLINE DATING PROFILE VERIFICATION
ONLINE DATING SITE USERS
INACCURATE OF ONLINE PROFILES
CUSTOMER HYPOTHESIS
PROBLEM HYPOTHESIS
RISKIEST ASSUMPTION
PEOPLE CARE ABOUT PROFILE ACCURACY
DATABLE = ♥ + ✓VALIDATION PROCESS
• 32 People Interviewed• 7 Online Daters• Only 2 online daters
cared about online profile accuracy (The Risk Assumption)
ONLINE VALIDATIONFACE TO FACE VALIDATION
• Anonymous profile created
• Several messages sent
• 1 lengthy reply and one unsolicited date proposal
DATABLE ≠ ♥ + ✓NO LOVE IN THE HEART OF THE CITY
ONLINE DATING SITE USERS
DATERS DON’TTRUST INFOIN PROFILE
PEOPLE CARE ABOUT PROFILE ACCURACY
CUSTOMER HYPOTHESIS
PROBLEM HYPOTHESIS
RISKIEST ASSUMPTION
PIVOT !
KINECTIONTHE PIVOT
JOB SEEKERS
SO MANY LEADS, SO LITTLE TIME
CUSTOMER HYPOTHESIS
PROBLEM HYPOTHESIS
RISKIEST ASSUMPTION
EXISTING TOOLS ARE NOT SUFFICIENT
KINECTIONSOLUTION VALIDATION
JOB SEEKERS
SO MANY LEADS, SO LITTLE TIME
CUSTOMER HYPOTHESIS
PROBLEM HYPOTHESIS
GETTING THROUGH THE FUNNEL
RELEVANCY ALGORITH FOR CONTACTS
PRIORITIZE & RANK BEST CONTACTS AT POTENTIAL COMPANIES
SOLUTION HYPOTHESIS
PUSH NOTIFICATION ON KEY CONTACTS FOLLOWED
KINECTIONTESTIMONIALS
I made a list of 50 people
using my intuition. It
definitely would have
helped to have software
automating this process.
Deciding who to talk to was an agonizing process
In the future, I
would reach out
to my network
earlier in the
process
The job I
ended up
getting wasn't
advertised
Often there are
opportunities
available that are
not posted
PROCESS MAPHYPOTHESIS VERIFICATION
Experiments
1 2 3 4 5
Customer Online Dating Site Users
Job Seekersw/in the past 2
yrs
Job Seekersw/in the past 2
yrs
Current Job Seekers
Current Job Seekers
Riskiest Assumptio
n
People Care About
Honesty
Need To Reach Out To
Network
Result 2/7; 32 totalInvalidated
11/11Validated
10/11Validated
2/5Validated
4/5Validated
Learned Difficulty in gathering
data due to the personal
nature of topic. Need
new customer.
Existing Tools Creates Sense
of Uncertainties.
People Are More Reluctant
To Initiate Contact From
Their Network.
Cost Might Be a
Sensitive Issue.
Difficulty Utilizing
Contact List Especially If You Don’t Have a
Specific End Goal.
Decision Pivot Persevere. Move onto
Next Riskiest Assumption
Persevere. Move onto
Next Riskiest Assumption
Persevere. Move Onto
Next Riskiest Assumption
Persevere.
People Care About
Honesty
Existing Tools Insufficient
Need To Reach Out To
Network
Contact Ranking Is
Useful
Human Recommendations to Get Closer To The Ideal Job
KINECTIONKEY PIVOT POINTS:
• SEARCHING FOR A JOB, like DATING - is about “who you know” and the relationships you build
• EVERYONE we talked to said “searching for a job sux” and they wish it would have gone faster
• WE SAID: Let’s increase the velocity of the job search process
• LESS IS MORE: Kinection pushes FEWER recommended contact actions to the user, rather than more – where the timeliness and quality of contact’s proximity to a referral wins out over quantity.
• KINECTION KARMA POINTS – you never know who matters on your career path – so it pays to build good karma with Kinection.
• Success Metrics: 100 unique Site visits – 13% signup rate since midnight April 13th – with minimal marketing.
KINECTIONMVP - BIG DATA = BEHAVIORAL ANALYTICS FROM CONTACTS IN YOUR SOCIAL GRAPH
Attributes
Actions
Intent
Will works at XYZ and tweeted about #LeanNYC connect with him now! bit.ly/k42
kinection
REFFERAL RANKING ENGINE
KINECTION KARMA POINTS
KINECTION FLOW PUSH NOTIFICATIONS
KINECTION VALUE PROPOSITION – CONCISE, RELEVANT, ACTIONABLE
KINECTIONNEXT STEPS
RISKIEST ASSUMPTION: • Are job searchers willing to pay? If not, other monetization paths?
BIG VISION:• Time: There are only so many hours in the day – why waste time
on people who can’t connect you to hiring managers? Kinection is like a virtual recruiter – pointing you in the direction of the exact people you need to talk to.
• Accuracy: Most people admit that personal networks are the most powerful for job searching – but we’re still focusing on the job and not improving the relevancy of points of contact. Kinection energizes the propensity that the people you contact will refer you for the job you want.
• Incentive: Kinection Karma Points – the “What’s My Motivation?” of referral tools. Users both “pay it forward” and help themselves by accruing points they can use to unlock rewards and discount codes on affiliate sites (e.g.- SkillShare, General Assembly, Amazon Web Services).
HOW DO WE GET THERE:• Rock star team, recruit users by illustrating value prop,
collect/build data models
KINECTIONTHE TEAM
(left to right)• Jason Lee - Lead COO• (initial concept and pitch
deck)• Patrizia Marsura CTO• Jasmin Chun CMO• Will Kreth CEO• (pivot concept and revised
deck)• Christopher Lee CFO