GoodCompany

LLP Lessons Learned

Emily Roesing

KamillaMaciel Tien

Rory Costello

NayanAgarwal

113 Interviews!!!

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

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

Week 1 Interview Count…

Key Insight #1: Isolated Seniors are

Hard to Find!!!

1

3

6

Senior

CallerFamily Member

(Economic buyer)

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

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

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

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

Eureka! Our second product pivot…

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

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

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

Testing our new MVP

Showed family members and seniors a sample program brochure including activity agenda:

“My mother would love this!”

Everyone loved our new business model…

Except for one man…

This team needs to step it up…

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

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”

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

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

Testing Facilitator Supply

Huge Facilitator Demand!!!

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

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…

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

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

Appendix

3 Year Projection of Financials

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