Good Company Berkeley 2015
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Transcript of Good Company Berkeley 2015
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