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My linkx final

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My linkx final

  1. myLinkx Home automation in 2010: Standards have been established, components are becoming commoditized yet the mass-market hasn ’t been cracked. Our goal: Make home automation affordable for the average home owner Market Size: $121 bn
  2. <ul><li>Our Demo Challenge Champion! </li></ul>Special Congrats to Steve Blank!
  3. Team myLinkx <ul><li>Jeremiah Anderson: Marketing, Website Finance and Sales Professional, Sales Management at NVIDIA </li></ul><ul><li>Waseem Bawa: Channel Partnerships – Builder/Security Director of Operations for National Inventory Service </li></ul><ul><li>Amar Pamar: Channel Partnerships – Electrical/AV, SW Dev Energy Management Consultant. Software Engineer. </li></ul><ul><li>Thomas Ruge: Product Research, Demo Board Physicist, multiple Startups, SW Mgmt at NVIDIA </li></ul>
  4. Phase 1: Canvas <ul><li>Key Partners </li></ul><ul><li>Hardware Vendors </li></ul><ul><li>Utilities (PG&E) </li></ul><ul><li>Local Specifiers (architects, lighting designers, interior, etc.) </li></ul><ul><li>Dealers (Installers, electricians, security contractors) </li></ul>Revenue Streams Cost Structure Channels <ul><li>Key Resources </li></ul><ul><li>Physical: cloud server </li></ul><ul><li>Human: Developer </li></ul><ul><li>Financial for scaling business </li></ul>Key Activities <ul><li>Value Proposition </li></ul><ul><li>Security / Safety </li></ul><ul><li>Energy / Cost savings </li></ul><ul><li>Convenience / Comfort </li></ul><ul><li>Coolness / geek factor </li></ul><ul><li>Dealer: Shorter / Simpler Installation </li></ul>Customer Relationships Customer Segments <ul><li>Software Development </li></ul><ul><li>Sign up dealers/installers </li></ul><ul><li>Inventory mgmt </li></ul><ul><li>Project setup </li></ul><ul><li>Payment Management (liens etc.) </li></ul><ul><li>Asset Sale + Licensing (initial) </li></ul><ul><li>Subscription fees #1: </li></ul><ul><li>Updates/monitoring #2: </li></ul><ul><li>Remote Control / Storage #3 </li></ul><ul><li>Remote security cameras </li></ul><ul><li>Project financing </li></ul><ul><li>Demand Response </li></ul><ul><li>Web Sales </li></ul><ul><li>DIY Channel </li></ul><ul><li>Dealer / Installer </li></ul><ul><li>COGS </li></ul><ul><li>Operating Costs (Development, Marketing, G&A) </li></ul><ul><li>Sales (Commissions) </li></ul><ul><li>Communities </li></ul><ul><li>Personal Assistance </li></ul><ul><li>Self-Service </li></ul><ul><li>Home Owners </li></ul><ul><li>SME </li></ul><ul><li>Dealer / Installer </li></ul>
  5. Phase 1: Key Learnings <ul><li>Thought </li></ul><ul><li>Mainstream Market For Home Automation Exists </li></ul><ul><li>Customers Willing to Pay Approximately $7,000 for Install </li></ul><ul><li>Willingness to Pay $50/month Recurring Fee </li></ul><ul><li>Key Features: Lighting, Security, HVAC, AV </li></ul><ul><li>Reality </li></ul><ul><li>Confirmed there is a mainstream demand for home automation , but how to scale is concern </li></ul><ul><li>Willingness to pay closer to $3.2K!!! </li></ul><ul><li>Average willingness to pay for recurring fee is $30/month </li></ul><ul><li>Confirmed Lighting, Security and HVAC most desired services </li></ul>70 Potential End Customer Interviews 40 1:1, 30 Survey 3 Advisor Meetings Andy, Steve, Gabriel 10 Channel Partner Interview Actions
  6. Phase 2: Canvas Key Partners Revenue Streams Cost Structure Channels Key Resources Key Activities Value Proposition Customer Relationships Customer Segments Direct Customers: - Electricians - Security - Local Specifiers Spec Customers - Homebuilders - Commercial Real Estate Developers Suppliers - HW Vendors <ul><li>Retrofit - dealers/installers </li></ul><ul><li>New Home Developers </li></ul><ul><li>Commercial Retro </li></ul><ul><li>Strategic – GE, Philips, PG&E </li></ul><ul><li>Realtors </li></ul><ul><li>Web Sales/Direct </li></ul><ul><li>Physical: Cloud Dealers </li></ul><ul><li>Human </li></ul><ul><li>- Developers </li></ul><ul><li>- Sales/Biz Dev/Mktg </li></ul><ul><li>Financial for Scaling Business </li></ul><ul><li>Main Box Hardware COGS </li></ul><ul><li>Software Development </li></ul><ul><li>Beta Customer Costs </li></ul><ul><li>SG&A </li></ul><ul><li>Communities </li></ul><ul><li>Personal Assistance </li></ul><ul><li>Self-Service </li></ul><ul><li>Downstream Sales Enablement / Biz Dev Program </li></ul><ul><li>SME </li></ul><ul><li>Dealer / Partner </li></ul><ul><li>Home Owner </li></ul><ul><li>Commercial Real Estate Owners </li></ul><ul><li>Vacation/ Secondary Home Market </li></ul>
  7. Phase 2: Key Learnings <ul><li>Thought </li></ul><ul><li>Home builder a possible channel </li></ul><ul><li>Viability of vacation home market </li></ul><ul><li>Solve a pain point caused by incumbents (Crestron, C4, etc) </li></ul><ul><li>Electrical contractors as a possible channel </li></ul><ul><li>Reality </li></ul><ul><li>Cost must be lower (~ 1% of home price or less) and value prop higher than we anticipated; requires local customer support </li></ul><ul><li>Pain point validated, but this is a small, niche market </li></ul><ul><li>Validated pain point (i.e. no programming control). But, some are cautious about allowing another vendor to their system </li></ul><ul><li>Okay with $500-$800, excited at $1500 per $5K install. Install must be ≤ 1 day, demo & training required </li></ul>Spoke to homeowners with existing systems Spoke to cold and warm weather vacation home owners Meetings with Electrical contractors Actions Phone conference with Greg at National Homebuilder
  8. Phase 3: Canvas Key Partners Revenue Streams Cost Structure Channels Key Resources Key Activities Value Proposition Customer Relationships Customer Segments Direct Customers: - Electricians - Regional Security - Local Specifiers Spec Customers - Homebuilders - Commercial Real Estate Developers Suppliers - HW Vendors <ul><li>Retrofit - dealers/installers </li></ul><ul><li>New Home Developers </li></ul><ul><li>Security Providers </li></ul><ul><li>Commercial Retro </li></ul><ul><li>Strategic – GE, Philips, PG&E </li></ul><ul><li>Realtors </li></ul><ul><li>Web Sales/Direct </li></ul><ul><li>A/V Dealers </li></ul><ul><li>Physical: Cloud Dealers </li></ul><ul><li>Human </li></ul><ul><li>- Developers </li></ul><ul><li>- Sales/Biz Dev/Mktg </li></ul><ul><li>Financial for Scaling Business </li></ul><ul><li>Main Box Hardware COGS </li></ul><ul><li>Software Development </li></ul><ul><li>Beta Customer Costs </li></ul><ul><li>SG&A </li></ul><ul><li>Communities </li></ul><ul><li>Personal Assistance </li></ul><ul><li>Self-Service </li></ul><ul><li>Downstream Sales Enablement / Biz Dev Program </li></ul><ul><li>SME </li></ul><ul><li>Dealer / Partner </li></ul><ul><li>Home Owner </li></ul><ul><li>Commercial Real Estate Owners </li></ul><ul><li>Vacation/ Secondary Home Market </li></ul>
  9. Phase 3: Key Learnings <ul><li>Thought </li></ul><ul><li>New Home Builders is a Scalable Channel. Potential AV upgrade market </li></ul><ul><li>Home security providers is a scalable channel </li></ul><ul><li>Creating a demo board will generate interest and demand </li></ul><ul><li>Will be able to generate solid demand through online campaigns </li></ul><ul><li>Reality </li></ul><ul><li>Validated opportunity, but additional pricing pressure as well as need to add AV. Spoke to AV dealers and discovered huge opportunity for upgrade market of existing systems. </li></ul><ul><li>Three interested, but difficult to work with. Extremely fragmented market. Need to target larger national players. </li></ul><ul><li>Well received and generated more interest, credibility and opened more doors than expected. Need tighter elevator pitch and plan for show demos. </li></ul><ul><li>Very good CTR, but few qualified leads. Need more targeted campaign around specific solutions (upgrade, lighting, security, etc.) </li></ul>Created Demo Board Columbia demo (50+) Engaged with several regional security Providers (15) (Bay Area, Sac) <ul><li>Created AdWords </li></ul><ul><li>campaign </li></ul>Actions Initial discussions with Pulte And AV dealers
  10. Phase 4: Canvas Key Partners Revenue Streams Cost Structure Channels Key Resources Key Activities Value Proposition Customer Relationships Customer Segments Direct Customers: - Electricians - Regional Security - Local Specifiers Spec Customers - Homebuilders - Commercial Real Estate Developers Suppliers - HW Vendors <ul><li>Physical: Cloud Dealers </li></ul><ul><li>Human </li></ul><ul><li>- Developers </li></ul><ul><li>- Sales/Biz Dev/Mktg </li></ul><ul><li>Financial for Scaling Business </li></ul><ul><li>Main Box Hardware COGS </li></ul><ul><li>Software Development </li></ul><ul><li>Beta Customer Costs </li></ul><ul><li>SG&A </li></ul><ul><li>Communities </li></ul><ul><li>Personal Assistance </li></ul><ul><li>Self-Service </li></ul><ul><li>Downstream Sales Enablement / Biz Dev Program </li></ul><ul><li>SME </li></ul><ul><li>Dealer / Partner </li></ul><ul><li>Home Owner </li></ul><ul><li>Commercial Real Estate Owners </li></ul><ul><li>Vacation/ Secondary Home Market </li></ul>
  11. Phase 4: Key Learnings <ul><li>Thought </li></ul><ul><li>Recurring Fee Strategy Direct from End Customer </li></ul><ul><li>Upgrade Solution with AV Dealers for High End Systems </li></ul><ul><li>Electrician Contractor is Viable Channel for Retrofit Market </li></ul><ul><li>Scale With New Home Builders </li></ul><ul><li>Reality </li></ul><ul><li>Need to embed cost in existing monthly fee, i.e. Security, Cable, Broadband, Mortgage, HOA. </li></ul><ul><li>AV dealers continue to provide interest and validate upgrade model. </li></ul><ul><li>Model validated, but more efficient acquisition process needed. Explore relationships w/ Electrical Contractor Unions. </li></ul><ul><li>Builders want to partner, but need a lower price-point. Working with Asian vendors to achieve lower BOM for builders. </li></ul>Met with iControl CEO Foster Electrician Relationships Foster AV Dealer Relationships Engage w/ Leads Several Meetings with Pulte Homes Actions
  12. GTM Strategy and Crossing Chasm <ul><li>2. MainstreasmExisting Services ($170M) </li></ul><ul><li>Large Home Security: #2 - #11 U.S Home Security (4M Cust.) </li></ul><ul><li>Cable/Broadband: #2 - #5 (55M Cust.) </li></ul><ul><li>1. GTM ($20M) </li></ul><ul><li>High End Upgrades </li></ul><ul><li>Electrician Channel </li></ul><ul><li>Regional Security </li></ul><ul><li>3. Full Service Mass Adoption </li></ul><ul><li>New Home Builders: KB, Pulte (585K New Homes in a Down Year of 2010) </li></ul>
  13. <ul><li>MyLinkx is a Viable & Scalable Business! </li></ul><ul><ul><li>Market is expecting smarthomes to become the norm in 10-15 years. </li></ul></ul><ul><ul><li>Demo board well received. Interested customer(s) self selecting to come talk to us. </li></ul></ul><ul><ul><li>Customer willing to pay recurring fee for SAAS automation (ADT Pulse, EC Research, etc) </li></ul></ul><ul><ul><li>However, Recurring fees need to be embedded in existing fee for home owner in order to achieve scale. </li></ul></ul><ul><ul><ul><li>Security, Cable/Broadband, Mortgage, HOA </li></ul></ul></ul><ul><ul><li>HW to become commodity at scale, need to be a SW business (licensing fee model?) </li></ul></ul><ul><ul><li>Mass adoption through new home builders and/or existing service providers </li></ul></ul><ul><li>Next Steps / Go to Market Strategy </li></ul><ul><ul><li>Short term ($20M): AV Dealers on Upgrade Model; Electricians on Retrofit </li></ul></ul><ul><ul><ul><li>Reach early adopters </li></ul></ul></ul><ul><ul><ul><li>Cash Flow, Validate UI </li></ul></ul></ul><ul><ul><li>Ramp ($170M): Go after #2-11 in security & #2-5 broadband/cable </li></ul></ul><ul><ul><ul><li>Achieve scale and cross chasm </li></ul></ul></ul><ul><ul><li>Long Term (?): Builders (eye on the prize). </li></ul></ul><ul><ul><ul><li>Achieve full service scale and build brand! </li></ul></ul></ul>Final Verdict
  14. <ul><li>Our Teaching Team </li></ul><ul><ul><li>Steve Blank </li></ul></ul><ul><ul><li>Oren Jacob </li></ul></ul><ul><ul><li>Jon Feiber </li></ul></ul><ul><ul><li>Jim Hornthal </li></ul></ul><ul><ul><li>Bhavik Joshi </li></ul></ul><ul><li>Our Advisors </li></ul><ul><ul><li>Steve Weinstein </li></ul></ul><ul><ul><li>Andy Smith </li></ul></ul><ul><ul><li>Gabriel Kra </li></ul></ul>Thank You!
  15. <ul><li>Our Demo Challenge Champion! </li></ul>Special Congrats to Steve Blank!

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