Praxis engr 245 lean launchpad stanford 2019
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Praxis engr 245 lean launchpad stanford 2019
- 1. Confidential – For Discussion Purposes Only Advancing Diversity & Inclusion outcomes through immersive, Virtual Reality based training experiences © 2018 Praxis Labs, Inc.
- 2. Katie ConnorElise Smith Demi Horvat Heather Shen Melina López Then Praxis uses Virtual Reality to reduce bias in schools, governments, and companies Now Praxis reimagines D&I training in VR to increase perspective- taking and provide a more effective & scalable solution Praxis Confidential – For Discussion Purposes Only © 2019 Praxis Labs, Inc. We interviewed 120+ people to understand our customers and product
- 3. 2 4 5 63 7 9 1081 We set out to understand our customer Chapter 1 Week
- 4. What Key Activities do our Value Propositions require? ➣ Engaging AR/VR experiences to outperform traditional methods ➣ Best in class DEI* curriculum Which customer’s problems are we solving? ➣ Current implicit bias training is costly, ineffective & fails to create sustained change Which customer needs are we satisfying? ➣ Better engagement & retention of bias training ➣ More effective product for DEI* budget owners ➣ Employee and customer satisfaction from trainings ➣ More inclusive & profitable companies that work across difference Who are our Key Partners? ➣ AR/VR producers ➣ DEI* service providers ➣ Hardware providers ➣ DEI* Research Institutes (Clayman, Ford, Urban, etc) Who are our key suppliers? ➣ Hardware providers ➣ AR/VR producers ➣ DEI*content creators What are the most important costs inherent in our business model? ➣ Investment in production of quality AR/VR experiences ➣ Hardware costs ➣ Business development & marketing For what value are our customers willing to pay? How do we make money? ➣ Corporate Implicit Bias Training is already a part of budget; customers are WTP for improved engagement and performance Through which Channels should we reach our Customer Segments? ➣ Through HR/ Talent/ Diversity/ CEO departments What Key Resources do our Value Props require? ➣ Expert AR/VR creators ➣ Production level AR/VR or ➣ LMS* Curriculum What relationship does each Customer Segment expect? ➣ Client: Long term, service provider relationship ➣ Client Employees: Access to resources For whom are we creating value? ➣ Public orgs (e.g. gov’t, police departments, public universities) ➣ Private orgs (e.g. companies with ~30+ employees, private universities/medical schools, volunteer orgs) ➣ Employees & staff who undergo training Who are our most important customers? ➣Companies & Orgs (HR/Diversity dept) Our original business model canvas evolved over time We initially thought that we could impact many different customer segments
- 5. We entered the class interested in exploring applications in Education, Police, Medical Institutions, and Companies... … and our interviews helped us narrow our focus
- 6. “This is exciting, but I’m not sure what budget we have for this” Susie Brubaker-Cole Vice Provost of Student Affairs Our interviews helped us narrow our focus... 6 interviews Stanford University, Colorado College, Teach for America
- 7. “Customized content is important and would need to be co- developed with officers” Ben Singleton Director of Analytics at NYPD Our interviews helped us narrow our focus... 2 interviews NYPD, Axon
- 8. “Doctors will only listen to other doctors” Dr. Hannah Valentine Chief Officer @ NIH Our interviews helped us narrow our focus... 3 interviews Stanford Medicine, NIH, Crisis Prevention Institute
- 9. We discovered an unmet need in corporations: Chief Culture / Diversity Officers have limited selection in current market This guided our focus toward corporations “We have a new role - the Chief Culture Officer. Like the Chief Diversity Officer & Chief Learning Officer, it reports to the CEO. I’ll send your pilot proposal to all 3. This is something we have to do” Head of Diversity Strategy Programs, Wells Fargo ...Until we landed on our target customer - large corporations with a CDO 35 interviews Walmart, Dropbox, Youtube, Airbnb, MetLife, Citibank, etc.
- 10. What Key Activities do our Value Propositions require? ➣ Engaging 360/AR/VR experiences to outperform traditional methods ➣ Best in class DEI* curriculum Which customer’s problems are we solving? ➣ Current implicit bias training is costly, ineffective & fails to create sustained change Which customer needs are we satisfying? ➣ Better engagement & retention of bias training ➣ More effective product for DEI* budget owners ➣ Employee and customer satisfaction from trainings ➣ More inclusive & profitable companies that work across difference Who are our Key Partners? ➣ AR/VR producers ➣ DEI* service providers ➣ Hardware providers ➣ DEI* Research Institutes (Clayman, Ford, Urban, etc) Who are our key suppliers? ➣ Hardware providers ➣ AR/VR producers ➣ DEI*content creators What are the most important costs inherent in our business model? ➣ Investment in production of quality AR/VR experiences ➣ Hardware costs ➣ Business development & marketing For what value are our customers willing to pay? How do we make money? ➣ Corporate Implicit Bias Training is already a part of budget; customers are WTP for improved engagement and performance Through which Channels should we reach our Customer Segments? ➣ Through HR/ Talent/ Diversity/ CEO departments What Key Resources do our Value Props require? ➣ Expert AR/VR creators ➣ Production level AR/VR or ➣ LMS* Curriculum What relationship does each Customer Segment expect? ➣ Client: Long term, service provider relationship ➣ Client Employees: Access to resources For whom are we creating value? ➣ Large corporate companies with dedicated DEI function and spend ➣ University administration and faculty trainings ➣ Police departments ➣ Medical institutions Interviews helped us choose our target customer... University admin and faculty trainings not right initial target because of lack of resources Police and medical Institutions not right initial customer because subject matter expertise
- 11. Then HR lead / Training / Compliance Lead ● Existing role with set budgets ● Budgets may be “first cut” due to lower priority than core business ops ● No clear D&I strategy We also got smarter on our actual buyer Now Chief Diversity Officer / Chief Culture Officer ● New role created in the last 5 years ● Few effective solutions to serve this new role and new budget ● High priority, especially in tech ● Clear D&I strategy and currently paying for trainings Valerie Williams Global Head of Inclusion & Diversity at Stripe Lauren Guite Head of Learning at Freckle
- 12. 2 4 5 63 7 9 1081 Curveball: We heard about some new regulations and needed to understand more Chapter 2 Week
- 13. What Key Activities do our Value Propositions require? ➣ Engaging 360/AR/VR experiences to outperform traditional methods ➣ Best in class DEI* curriculum Which customer’s problems are we solving? ➣ Current implicit bias training is costly, ineffective & fails to create sustained change Which customer needs are we satisfying? ➣ Better engagement & retention of bias training ➣ More effective product for DEI* budget owners ➣ Employee and customer satisfaction from trainings ➣ More inclusive & profitable companies that work across difference Who are our Key Partners? ➣ AR/VR producers ➣ DEI* service providers ➣ Hardware providers ➣ DEI* Research Institutes (Clayman, Ford, Urban, etc) Who are our key suppliers? ➣ Hardware providers ➣ AR/VR producers ➣ DEI*content creators What are the most important costs inherent in our business model? ➣ Investment in production of quality AR/VR experiences ➣ Hardware costs ➣ Business development & marketing For what value are our customers willing to pay? How do we make money? ➣ Corporate Implicit Bias Training is already a part of budget; customers are WTP for improved engagement and performance Through which Channels should we reach our Customer Segments? ➣ Through HR/ Talent/ Diversity/ CEO departments What Key Resources do our Value Props require? ➣ Expert AR/VR creators ➣ Production level AR/VR or ➣ LMS* Curriculum What relationship does each Customer Segment expect? ➣ Client: Long term, service provider relationship ➣ Client Employees: Access to resources ...but new CA regulations made us question our target segment Small companies will be affected by recent California regulation For whom are we creating value? ➣ Large corporate companies with dedicated DEI function and spend ➣Companies between 5- 50 employees that will be affected by new California state regulation for sexual harassment training ➣ University administration and faculty trainings ➣ Police departments ➣ Medical institutions
- 14. Potential required customer! New CA regulations: ● Companies >5 employees must provide sexual harassment and bullying trainings ● All employees must undergo starting Jan 1, 2020 ● Must be interactive Smaller underserved companies will need new diversity training solutions & won’t be able to afford in-person workshops
- 15. Pivot averted: interviews revealed that small startups (<20 people) not willing to pay whereas large companies see compliance separate from D&I Larger companies are approaching compliance training separate from D&I training Opportunity to combine legal compliance need with diversity training needs Opportunity Smaller companies (<100) are focused on growing fast and using internal/free resources More engaging D&I trainings are not compelling to smaller startups Size matters
- 16. What Key Activities do our Value Propositions require? ➣ Engaging 360/AR/VR experiences to outperform traditional methods ➣ Best in class DEI* curriculum Which customer’s problems are we solving? ➣ Current implicit bias training is costly, ineffective & fails to create sustained change Which customer needs are we satisfying? ➣ Better engagement & retention of bias training ➣ More effective product for DEI* budget owners ➣ Employee and customer satisfaction from trainings ➣ More inclusive & profitable companies that work across difference Who are our Key Partners? ➣ AR/VR producers ➣ DEI* service providers ➣ Hardware providers ➣ DEI* Research Institutes (Clayman, Ford, Urban, etc) Who are our key suppliers? ➣ Hardware providers ➣ AR/VR producers ➣ DEI*content creators What are the most important costs inherent in our business model? ➣ Investment in production of quality AR/VR experiences ➣ Hardware costs ➣ Business development & marketing For what value are our customers willing to pay? How do we make money? ➣ Corporate Implicit Bias Training is already a part of budget; customers are WTP for improved engagement and performance Through which Channels should we reach our Customer Segments? ➣ Through HR/ Talent/ Diversity/ CEO departments What Key Resources do our Value Props require? ➣ Expert AR/VR creators ➣ Production level AR/VR or ➣ LMS* Curriculum What relationship does each Customer Segment expect? ➣ Client: Long term, service provider relationship ➣ Client Employees: Access to resources New CA regulations made us realize that we must be scalable For whom are we creating value? ➣ Large corporate companies with dedicated DEI function and spend ➣ Large & Medium companies now needing to scale D&I training to non-managers due to CA statute ➣Companies between 5- 50 employees ➣ University administration and faculty trainings ➣ Police departments ➣ Medical institutions Large/medium companies will need to scale compliance trainings Small companies (<100) do not have budget to use higher quality external resources
- 17. 2 4 5 63 7 9 1081 We have a target customer. Now we need a product → on to content creation! Chapter 3 Week
- 18. For whom are we creating value? ➣ Large corporate companies with dedicated DEI function and spend ➣ Large & Medium companies now needing to scale DEI training to non-managers due to CA statute ➣ University administration and faculty trainings ➣ Police departments ➣ Medical institutions Which customer’s problems are we solving? ➣ Current implicit bias training is costly, ineffective & fails to create sustained change Which customer needs are we satisfying? ➣ Better engagement & retention of bias training ➣ More effective product for DEI* budget owners ➣ Employee and customer satisfaction from trainings ➣ More inclusive & profitable companies that work across difference Who are our Key Partners? ➣ AR/VR producers ➣ DEI* service providers ➣ Hardware providers ➣ DEI* Research Institutes (Clayman, Ford, Urban, etc) Who are our key suppliers? ➣ Hardware providers ➣ AR/VR producers ➣ DEI*content creators What are the most important costs inherent in our business model? ➣ Investment in production of quality AR/VR experiences ➣ Hardware costs ➣ Business development & marketing For what value are our customers willing to pay? How do we make money? ➣ Corporate Implicit Bias Training is already a part of budget; customers are WTP for improved engagement and performance Through which Channels should we reach our Customer Segments? ➣ Through HR/ Talent/ Diversity/ CEO departments What Key Resources do our Value Props require? ➣ Expert AR/VR creators ➣ Production level AR/VR or ➣ LMS* Curriculum What relationship does each Customer Segment expect? ➣ Client: Long term, service provider relationship ➣ Client Employees: Access to resources ...and we heard loud & clear how critical content would be What Key Activities do our Value Propositions require? ➣ Engaging 360/AR/VR experiences to outperform traditional methods ➣ Best in class DEI* curriculum We believed that we could produce engaging and effective trainings in 360 video, AR, and VR
- 19. We surveyed over 30 people to test experiences with existing trainings © 2018 Praxis Labs, Inc. “It was pretty lame...boring... not helpful.” It was Impersonal & on my computer so hard to really get a proper perspective or feel engaged with the product
- 20. Teaching staff reminded us: User≠Customer!
- 21. Our actual customers are D&I leads who are searching for improved outcomes Confidential – For Discussion Purposes Only © 2018 Praxis Labs, Inc.
- 22. We developed storyboards to test content with D&I leads Storyboard - initial content for first module © 2018 Praxis Labs, Inc.
- 23. We developed storyboards to test content ideas with D&I leads to confirm content was aligned with their goals © 2018 Praxis Labs, Inc. We thought that D&I leads were most interested in what the content would be and what topics we’d cover We learned that D&I leads were interested in content and topics, but were especially excited about interactive and flexible components
- 24. What medium is the best for interactivity and flexibility? ● Not 360 video! ○ Thought: fast and easy to prototype ○ Reality ■ Hard to make high quality, production value - see picture on right for example ■ Higher need for film experience and harder to enter as novices ■ Quote to have professional ten minute 360 video ~$15,000
- 25. Copyright©2018byTheBostonConsultingGroup,Inc.Allrightsreserved. We need a medium that supports our value props of effectiveness & flexibility 1:1 coaching Praxis In-person workshops E-learning modules Effectiveness Affordability High Low Low High We interviewed 35+ technology and D&I experts © 2019 Praxis Empathy Building & Perspective Taking NEED: Empathy & Perspective-taking drive D&I training effectiveness VR builds empathy & perspective-taking more than other mediums Metrics & Effectiveness Tracking NEED: Companies struggle to track D&I training effectiveness VR offers innovative metrics opportunity (e.g. eye tracking) Why VR?
- 26. For whom are we creating value? ➣ Large corporate companies with dedicated DEI function and spend ➣ University administration and faculty trainings ➣ Police departments ➣ Medical institutions Which customer’s problems are we solving? ➣ Current implicit bias training is costly, ineffective & fails to create sustained change Which customer needs are we satisfying? ➣ Better engagement & retention of bias training ➣ More effective product for DEI* budget owners ➣ Employee and customer satisfaction from trainings ➣ More inclusive & profitable companies that work across difference Who are our Key Partners? ➣ AR/VR producers ➣ DEI* service providers ➣ Hardware providers ➣ DEI* Research Institutes (Clayman, Ford, Urban, etc) Who are our key suppliers? ➣ Hardware providers ➣ AR/VR producers ➣ DEI*content creators What are the most important costs inherent in our business model? ➣ Investment in production of quality AR/VR experiences ➣ Hardware costs ➣ Business development & marketing For what value are our customers willing to pay? How do we make money? ➣ Corporate Implicit Bias Training is already a part of budget; customers are WTP for improved engagement and performance Through which Channels should we reach our Customer Segments? ➣ Through HR/ Talent/ Diversity/ CEO departments What Key Resources do our Value Props require? ➣ Expert AR/VR creators ➣ Production level AR/VR or ➣ LMS* Curriculum What relationship does each Customer Segment expect? ➣ Client: Long term, service provider relationship ➣ Client Employees: Access to resources We learned that VR is key to achieving our vision What Key Activities do our Value Propositions require? ➣ Engaging 360/AR/VR experiences to outperform traditional methods ➣ Best in class DEI* curriculum 360 video experiences do not support our value propositions
- 27. 2 4 5 63 7 9 1081 Customer ✓ Content ✓ ... Future ? Chapter 4 Week
- 28. Customer SegmentsKey Activities Value PropositionKey Partners What are the most important costs inherent in our business model? For what value are our customers willing to pay? ChannelKey Resources Customer Relationship LMS = Learning Management Systems; D&I = Diversity and Inclusion Our key learnings throughout the quarter led us to this: Hardware D&I Content Providers Clayman Institute Ford Foundation Interactive Storytellers Develop research- backed D&I curriculum Create immersive perspective taking VR experiences Test product efficacy VR Creators LMS Curriculum More Effective Solution: Increased engagement, attitude change, behavior change Increased retention & sense of belonging More cost-effective & scalable More profitable & innovative company Long-term service provider Metrics expert Resource provider Direct sales Chief Diversity Officer Learning & development lead Companies with CDO & dedicated budget Companies with recent bias incident VR Experience development Hardware Business development & sales Improved effectiveness & engagement Linking D&I trainings to D&I outcomes Employee retention & sense of belonging Tech companies with increased D&I scrutiny Hospitality & service companies with front line sales/ service associates
- 29. Moving forward, we intend to pursue the $1.6BN spent on external solution $8.0BNDomestic corporate spending on D&I Training $3.4BND&I spending at Fortune 1000 Companies $1.6BNSpending on external content & solutions Target Market Served Available Market Total Addressable Market
- 30. Today August Ongoing Go-to-market strategy & future plans Phase 1: Need Finding & Prototyping Phase 2: Pilot Phase 3: Broader Deployment ● >100 customer interviews ● Rapid prototype iteration ● Target customer = Chief Diversity Officer at Fortune 1000 company ● Tech industry or recent bias incident ActionLearnings ● Co-develop curriculum ● Refine technology ● Plan to test curriculum narratives ● Identify key D&I metrics & dashboard for Chief Diversity Officers ● Quantitative effectiveness test ● Word of mouth growth: D&I leads introduced us network ● 70% gave curriculum MVP an NPS score of 9+ Metrics ● ~85% of CDOs interviewed interested in summer pilot ● Deploy with pilot customers ● Gain new customers ● Pressure test deployment model (e.g. integrated hardware & software subscription) ● TBD © 2019 Praxis Labs, Inc. All 4 team members working on Praxis full time this summer!
- 31. We’ve come a long way & are excited for the future!
- 32. Acknowledgements and thank you! Katherine Connor Mentor Lean Launchpad Teaching Team© 2018 Praxis Labs, Inc.
Notes de l'éditeur
- Melina We are Praxis Labs, a company advancing Diversity & Inclusion outcomes through immersive, Virtual Reality based training experiences
- Melina Elise pulled our team of 4 together, as women of color the team quickly clicked through a shared passion for diversity, equity, & inclusion. At the beginning of the Lean Launchpad class, Katie Connor became our mentor. At this starting point we planned to use VR to reduce bias in schools, governments, and companies. After interviewing over 120 people including Customers, VR experts, and bias experts, and developing with our mentor, the team is now reimagining D&I training in VR to increase perspective-taking and provide a more effective and scalable solution.
- Melina The first 3 weeks in our journey were spent trying to understand who our customer segments are, and who would be our early adopters.
- Melina The team hypothesized that are customers were HR and D&I leads who are in charge of purchasing or developing trainings for their employees. We explore three customer segments which were HR and D&I leads at Public Organizations, Private Organizations, and Companies.
- Melina We explored public and private educational institutions, government sectors such as police departments, private hospitals, and companies across different sizes and industries.
- Melina From educational institutions
- Melina
- Melina
- Melina Where we found really found traction is with larger sized companies who have a Chief Diversity Officer. We learned that the CDO position had been created in the past 5 years and most Fortune 1000 companies under diversity scrutiny had one, and the CDO position was growing.
- Melina While the team saw opportunity in the future for other customer segments, we accepted that corporate companies had the budget and excitement to buy our product and became our target customer.
- Melina We also realized that the specific customer who we would be selling directly to, was not who we originally thought. Depending on the size of a company Head of HR, Heads of Learning & Development, Directors of Diversity & Inclusion, Chief Diversity Officer
- Demi
- Demi
- Demi
- Demi
- Demi
- Heather So now that we actually have a customer in mind, we focused these next few weeks on content creation
- Heather Past interviews showed D&I leads were concerned and invested in what our content would be. We came in with the hypothesis that all immersive media could be powerful enough to produce engaging and effective trainings
- Heather To understand what was out there, we surveyed over 30 people about their experiences with existing trainings. The overwhelming response was that the e-learnings were boring and people wanted more engaging material. We thought we had hit the jackpot and were excited to come to class and share our findings.
- Heather But then the teaching staff reminded us, your end-user is not your customer!
- Heather Going back to our drawing board, we decided to refocus on our actual customers: D&I leads looking for improved outcomes.
- Heather In response to that, we developed storyboard content to pressure test against D&I leads to make sure we were on the right path
- Heather We originally expected that customers would be most excited about the content and topics we chose. Instead, we learned that D&I leads are most interested in whether we can make the content more interactive and customized to their own company.
- Heather So in our next iteration of product development, we wanted to explore which medium could create interactive and customizable content fast. Our first hunch was that 360 video was fast and easy to prototype. This did not go as we planned; it is hard to make high quality, as you can see in the picture on the right where I wore a laptop case to film with the camera
- Heather Instead we need a medium that supports our value props of effectiveness and scalability. During these weeks, we interviewed over 35 technology and D&I experts to find that VR is key in achieving our vision. D&I leads need to have empathy + pt to drive training effectiveness. Research out of the lab proves that vr can build empathy and pt more than other mediums. At the same time, companies need better ways to track D&I training effectiveness and VR can offer quantifiable metrics.
- Heather
- Elise
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- Elise “Additionally, we’d love to share how our 6 MVPs helped us get to where we are now.”