Download - Good Company Berkeley 2015
![Page 1: Good Company Berkeley 2015](https://reader030.vdocuments.mx/reader030/viewer/2022032420/55a5ad0f1a28abb4238b4667/html5/thumbnails/1.jpg)
GoodCompany
LLP Lessons Learned
Emily Roesing
KamillaMaciel Tien
Rory Costello
NayanAgarwal
113 Interviews!!!
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Week 1 Minimum Viable Product (MVP)
Senior (User)
“A phone call a day for
seniors living alone”Caller
15-20 minute calls
Family Member(Economic buyer)
$$$
Influence
Recruit
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Week 1 BMC:‘A phone call a day…’
KEY PARTNERS KEY ACTIVITIES VALUE PROPOSITION CUSTOMER RELATIONSHIP
CUSTOMER SEGMENTS
COST STRUCTURE REVENUE STREAM
KEY RESOURCES
CHANNELS
- Caller training
- Background checks
- Matching callers and
customers
- Quality monitoring &
assurance
- Telephony
technology
- Quality monitoring
technology
(e.g., call recording
app)
Family Member (Payer)
Senior (User)
- Health Plans
- Physicians &
hospitals
- Social workers
- Institutions (non-
profits, senior
centers)
- Home health services
Rewarding work for
people with flexible
schedules
Needs Addressed:
- Part-time income
- Build meaningful
relationships
- A way to use
flexible schedule
Seniors: Daily, caring
phone calls
Callers: Case
management
Callers
Responsible
‘Callers’ willing to
talk with seniors and
earn some extra
income
(e.g., students, newly
retired, Registered
Nurses, Certified
Nursing Assistants,
pre-meds)
Senior Users
- Physicians & hospitals
- Social workers
- Institutions
- Own Health Plan
Callers:
- Online & word-of-mouth
- Family member pays
- Senior pays- Cost of callers ($ per case managed)
- Cost of training and background checks
- Marketing and sales
- Telephony technology (expect to keep low using
free minutes on callers’ phone plans)
A Phone Call A Day
for Seniors Living
Alone
Needs Addressed:
- Social isolation
- Companionship
- Daily check-in
- Family peace-of
mind
Isolated seniors
living alone
Family Members with
an aging loved one
living alone
Family Member:
- Online (direct)
- Family Health Plan
Family Caregiver:
Regular updates on
senior wellbeing
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Week 1 Interview Count…
Key Insight #1: Isolated Seniors are
Hard to Find!!!
1
3
6
Senior
CallerFamily Member
(Economic buyer)
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Where do we find seniors?
Senior Living Continuum
Living Alone Community Living Nursing Care
• Seniors living independently
• Independent living facilities (ILF)• Assisted living facilities (ALF)• Continuing Care Retirement
Community (CCRC)
• Food service• Social activities• Transport• Assistance with ADLs
• Senior Nursing Facilities (SNF)
• All Assisted Living Services
• + Acute Medical Care
N/A
Living Situation
Services Provided
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Key Insight: Seniors want to contribute
“My mother would always know
this person is being paid to talk
with her” – Family Member A
“I’ve always thought having my mom
be in a group discussing politics
would be great.” – Family Member B
"As you get older, people don't want
to listen to you anymore.” – Senior
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Our first product pivot: P2P Senior Matching
Step 1
Senior creates online profile• Incl. hobbies, interests, etc.• Family may help
Step 2GoodCompany helps match to others with similar interets
Step 3Seniors connect• Phone• Email• Face to Face
• Overall: model didn’t quite resonate
– Not all seniors like social media!
• But we learned that P2P engagementaround activities is important
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Week 3 BMC:P2P Senior Matching
KEY PARTNERS KEY ACTIVITIES VALUE PROPOSITION CUSTOMER RELATIONSHIP
CUSTOMER SEGMENTS
COST STRUCTURE REVENUE STREAM
KEY RESOURCES
CHANNELS
- Web development
- Matching algorithm
creation
- Quality monitoring &
assurance
- Web development
personnel
Family Member (Payer)
Senior (User)
- Seniors’ Institutions
(non-profits, senior
centers)
- Physicians &
hospitals
- Social workers
- Home health services
Rewarding work for
people with flexible
schedules
Needs Addressed:
- Part-time income
- Build meaningful
relationships
- A way to use
flexible schedule
Seniors: Providing new
connections with peers
Callers: Case
management
Callers
Responsible
‘Callers’ willing to
talk with seniors and
earn some extra
income
(e.g., students, newly
retired, Registered
Nurses, Certified
Nursing Assistants,
pre-meds)
Senior Users
- Online
- Senior Centers
Callers:
- Online & word-of-mouth
- Family member pays
- Senior pays
- Advertisers?
- Web hosting costs
- Engineering costs
- Marketing and sales
Peer-2-Peer matching
with like-minded
seniors
Needs Addressed:
- Social isolation
- Companionship
- Family peace-of
mind
Isolated seniors
living alone
Family Members with
an aging loved one
living alone
Family Member:
- Online (direct)
Family Caregiver:
Providing great matches
for parent
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Eureka! Our second product pivot…
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Our second product pivot:Group Phone-Based Activities
$
Reporting
Group Facilitator
Family Member
6-12 Seniors dial into regular
conference call activities
• 30-60 minute conference calls
• 3 types of topics– Education
– Health & Wellness
– Fun
• Professional facilitator manages conversation
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Sunday Monday Tuesday Wednesday Thursday Friday Saturday
Daily Gratitude
9:00 – 9:30
Daily Gratitude
9:00 – 9:30
Daily Gratitude
9:00 – 9:30
Daily Gratitude
9:00 – 9:30
Daily Gratitude
9:00 – 9:30
Daily Gratitude
9:00 – 9:30
Daily Gratitude
9:00 – 9:30
Creative Writing Club
Our lives and stories
9:30 – 11:00
News Review
9:30 – 10:30
Casual Conversation
Share your favorite family
tradition
9:30 –11:00
News Review
9:30 – 10:30
Book ClubThe Language
of Flowers
9:30 –11:00
News Review
9:30 – 10:30
Morning Poetry
9:30 – 10:30
Arts & Culture
Learn about Rodin
3:00 – 4:00
Movie Talk
Discuss movie of the week
3:00 - 4:00
Support GroupCoping with Chronic Pain
3:00 - 4:00
Music Appreciation
Jazz & Blues
3:00 – 4:00
Support Group
Healing with loss
3:00 - 4:00
Music Appreciation
Jazz & Blues
3:00 – 4:00
Storytelling
Share your childhood
stories
3:00 - 4:00
Game TimeHave fun
playing Bingo
4:00 - 5:00
Around the Globe
Stories from Emily’s Trip to
India 4:00 - 5:00
Game TimeGet ready for
Trivia
4:00 - 5:00
Laugh Out Loud
Share jokes and laughs
4:00 - 5:00
Nature & Beyond
4:00 - 5:00
Sports Talk
Discuss Big Games of the
Week
4:00 - 5:00
Entertainment
Discuss current TV show
4:00 - 5:00
Sample Weekly Calendar
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Week 4 BMCGroup Phone-Based Activities
KEY PARTNERS KEY ACTIVITIES VALUE PROPOSITION CUSTOMER RELATIONSHIP
CUSTOMER SEGMENTS
COST STRUCTURE REVENUE STREAM
KEY RESOURCES
CHANNELS
- Recruitment
- Training
- Content
development
- Promote usership
- Track engagement
- Reporting to family
members
- Facilitators
- Telephony
technology
- Marketing
- Content developers
- Customer service
Family Member (Payer)
Senior (User)
- Health Plans
- Physicians &
hospitals
- Social workers
- Institutions (non-
profits, senior
centers)
- Home health services
Seniors: Daily, caring
phone calls
Senior Users
- Physicians &
hospitals
- Social workers
- Institutions
- Own Health Plan
- Family member pays
- Senior pays
Isolated seniors
living alone
Family Members with
an aging loved one
living alone
Family Member:
- Online (direct)
- Family Health Plan
Family Caregiver:
Regular updates on
senior wellbeing
Peace of mind for
family members who
feel guilty and
concerned about an
aging loved one’s
social engagement
A greater variety of
activities for seniors
to look forward to
everyday for seniors
needing
emotional/intellectual
stimulation
- Facilitator costs
- Telephony technology
- Marketing & Sales
- Account Management
- Content Development
- Customer Success
- Customer Service
- Training & Resource Management
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Testing our new MVP
Showed family members and seniors a sample program brochure including activity agenda:
“My mother would love this!”
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Everyone loved our new business model…
Except for one man…
This team needs to step it up…
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Family Members
EmployersInsurance Coverage
Health Systems
Senior Housing
Assisted Living FacilitiesIndependent Living Facilities
And so we got out of the building!
Home Health Services
Customer Landscape
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Our First Customer: Assisted Living
At-A-Glance• 300 facilities nationwide• 105 residents / facilities • Total capacity = 31,500 residents
At-A-Glance• 24 facilities in California• 85 residents / facility • Total capacity = 2,040 residents
Deborah Executive Director
of the Berkshire
Rachel Thomas Executive Director
of Brighton Gardens
“Resident safety and social engagement are what I care most
about”
“I think it’s great! It may even be something Vintage looks at on a larger scale. I’d like to do a pilot”
“35% of my residents are not engaged with our activities. They rarely leave
their rooms.”
“Can I do a pilot with you all? We could start with 3 Sunrise facilities…
“My number one priority is providing individualized, meaningful service for every resident, but I don’t have the
bandwidth.”
“We need more capacity to do social activities – I’m trying to recruit an
assistant activities director right now”
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Customer Archetype:Assisted Living Facilities
The Big Guys Regional Players The Mom and Pops
Size• Top 9 national companies• Each operates 100-400
larger facilities• 30% of total resident
population
Attributes
• Targets middle/upper income
• High Activity budget spend (up to $50/resident/month)
Business Environment
• Marketing / differentiation key
• Relies on economies of scale• Driving occupancy key
Size• 700 Companies with
regional presence• 52% of resident population
Attributes
• Middle/upper income • Activity budget =
$30/resident/month
Business Environment
• Builds reputation w/in state to compete with “Big Guys”
• Easier to maintain occupancy but smaller budgets
Size• Family owned, non-profit • Serves small, local needs• # of avg. residents = 15• 18% of resident pop.
Attributes
• Middle income• Fewer activities provided
Business Environment
• Meeting rural, local customer needs
• Not trying to compete on larger scale
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Testing Resident Demand
We Pitched 12 Berkshire Residents!
• Of 56 residents, 12 attended (24 hrs notice)
• All women
What We Learned: • Pandemonium! Need to be better
prepared• Need to work on the pitch
• Demo helped• Need to identify who is able to
participate (cognitively impaired?)• In the end 7 of the 12 attendees
expressed strong interest
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Testing Facilitator Supply
Huge Facilitator Demand!!!
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Week 8 BMCGroup Phone-Based Activities
KEY PARTNERS KEY ACTIVITIES VALUE PROPOSITION CUSTOMER RELATIONSHIP
CUSTOMER SEGMENTS
COST STRUCTURE REVENUE STREAM
KEY RESOURCES
CHANNELS
Peace of mind, for family members who
feel guilty about leaving a loved one in a ALF
Family Member: Family members with an aging loved one in an Assisted Living Facility
Seniors in Assisted Living Facilities who: - regularly experience boredom and/or loneliness- are dissatisfied with activities on offer
- Flat annual fee to Assisted Living Community
- Recruit facilitators- Train facilitators- Develop content - Educate and promote
usership- Track engagement and
plan sessions- Report to Assisted
Living
- Facilitators- Telephony technology- Marketing - Content developers- Customer service /
office line
- Facilitator costs- Telephony technology- Marketing & Sales
Family Member (Payer)
Senior (User)
- Activity Directors and executive directors at each participating facility
Seniors: A greater variety of activities to look
forward to everyday for seniors needing
emotional/intellectual stimulation
Seniors: Participation in sessions & weekly one-on-one check-ins
Assisted Living (Payer)
Assisted Living Communities needing help with resident engagement and satisfaction
Assisted Living: Improve resident satisfaction &
ease staff workload with scalable engagement
Assisted Living: Weekly summary of resident engagement
- Direct sales force - Assisted Living as
primary distribution partners to family members
- Account Management- Content Development- Customer Success- Customer Service- Training & Resource Management
Family Member: Joint updates from ALF / GC on senior participation
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Revenue Model Options
Family Member PaysAssisted Living Pays Tiered Pricing Structure
Model 1 Model 2 Latest thinking
• Flat fee per facility onboarded (~$20K p.a.)
• No limit on call participation
• Family Member pays an add-on fee for senior subscription ($150/month)
• Share % of revenue with ALF to incentivize user growth
• Charge facility to provide basic package for free to residents
− E.g., Attend 1 free call per day
• Offer ‘silver’ and ‘gold’ packages with premium pricing
− Attend more calls depending on package
Description
Issues • Misalignment of incentives
• Family member WTP is unclear
• TBD…
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Latest BMCGroup Phone-Based Activities
KEY PARTNERS KEY ACTIVITIES VALUE PROPOSITION CUSTOMER RELATIONSHIP
CUSTOMER SEGMENTS
COST STRUCTURE REVENUE STREAM
KEY RESOURCES
CHANNELS
Peace of mind, for family members who
feel guilty about leaving a loved one in a ALF
Family Member: Family members with an aging loved one in an Assisted Living Facility
Seniors in Assisted Living Facilities who: - regularly experience boredom and/or loneliness- are dissatisfied with activities on offer
- Flat fee charged to facility for basic service to residents- Tiered pricing charged to Senior or Family Member for
premium packages
- Recruit facilitators- Train facilitators- Develop content - Educate and promote
usership- Track engagement and
plan sessions- Report to Assisted
Living
- Facilitators- Telephony technology- Marketing - Content developers- Customer service /
office line
- Facilitator costs- Telephony technology- Marketing & Sales
Family Member (Payer)
Senior (User)
- Activity Directors and executive directors at each participating facility
Seniors: A greater variety of activities to look
forward to everyday for seniors needing
emotional/intellectual stimulation
Seniors: Participation in sessions & weekly one-on-one check-ins
Assisted Living (Payer)
Assisted Living Communities needing help with resident engagement and satisfaction
Assisted Living: Improve resident satisfaction &
ease staff workload with scalable engagement
Assisted Living: Weekly summary of resident engagement
- Direct sales force - Assisted Living as
primary distribution partners to family members
- Account Management- Content Development- Customer Success- Customer Service- Training & Resource Management
Family Member: Joint updates from ALF / GC on senior participation
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Our plan for Week 11 onwards
Pilot A: Vintage Living et al.
Pre-PilotPilot B:
Brookdale
Understand Revenue Potential
Proof of Concept &Value Creation
Value Creation & Pricing for Brookdale
Objective
April May - July August and on…
• Determine exact range for potential ALC budget (what would be low vs. high target price?)
• Get feedback from Brookdale VP Innovation on concept
• Problem-solve pricing model with Teck Ho
• Conduct ‘low risk’ pilot to:
− Understand key usage metrics (take-up, resident satisfaction)
− Identify teething problems
− Understand costs
• Conduct pilot for Brookdale to:
− Demonstrate value in that setting
− Gain insight and leverage on pricing opportunities
Activities
Team go/no-go decision
Pitch for a Pilot w/ Brookdale
PRELIMINARY
Sign contract w/ Brookdale
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Appendix
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3 Year Projection of Financials
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Market Opportunity
Living AloneSenior Housing (First Customer)
Senior Living Situation
Expected TAM
Attributes • Strong channel partners• Low acquisition costs
• TBD• 300K Residents
− 10% of resident population based on our findings
U.S. Population
3M 40M
Expected SOM
• $45M p.a.
− 15% x 300K x $1k p.a
• TBD
• Much Larger market Longer term• Brand strength needed to capture
demand
PRELIMINARY