1. 1. The best place to plan your end of life wisheswww.mylegacyplan.orgLean Launchpad110 interviewsApril 2, 2012 30 survey respondents230 site visitors
2. 2. The Team Chris Tar, EWMBA and Engineering Manager at Google. Previous experience: self taught engineer with an MA in studio art. Evan M. Smith, Masters student at the UC Berkeley School of Information. Previous experience: Interactive production at Model Metrics and Ogilvy. Doanh Do, PhD student in Civil & Enviromental Engineer. Previous experience: Working in his familys multiple businesses Rick Silverstrini, EWMBA and Global Product Marketing Lead at YouTube. Previous Experience: Product Manager at YouTube. Produced TV commercials, websites, radio ads in New York City.Mentor Keval Desai (Haas MBA, 1999) is a partner at VC firm InterWest Partners. Previous Experience: Director of Product Management at Google, where he led development of product/businesses in Googles advertising business.
3. 3. A Journey of 5 Years
4. 4. Base: Online self-Develop a service & access toplanning platform referral networkfor customers-Attorneys (estate)We provide peace Paid: End of Life-Financial Planners Build a network of of mind by helping consulting and plan-Medical Advisors service providersyou plan how you administration-Funeral Directors Baby boomers want to leave, andand children of-Memorialwhat you want toCreators(Videograp baby boomers leave behind.hers, artists, etc) Partnerships with-Vendors providing-Website Upper middleestate planners, We also connect-Referral, WOM, PRalterative options class to affluentfuneral directors, local providers with -Advertising (radio,for remains lawyers, etc.people in need of-Insuranceniche magazines, their services social media,Providers Planning Platformresulting in highlysearch) qualified leadsDomain ExpertiseFixed Costs: Biz Dev Staffing, Web development Primary: referral fees from partners Secondary: subscription & fees to accessVariable Costs: Web hosting, someadditional online toolsprogramming, marketing Tertiary: consulting fees
5. 5.
6. 6. Other Things We Learned Children/guardianship issues are important(most important to some) including pets People saw value in this and may be willing topay for a service directly (were still skeptical) Our model is called a two sided market
7. 7. Base: Online self-Agileservice & access toDevelopmentreferral network-Attorneys (estate) We provide peace Paid: End of Life Segment 1: Baby-Financial Planners Build a network of consulting and planof mind by helping boomers and-Medical Advisors service providersadministrationyou plan how you children of baby-Funeral Directorswant to leave, and boomers-Memorial what you want toCreators(Videograpleave behind.Upper middlehers, artists, etc) -Partnerships with class to affluent-Vendors providing -WebsiteestateWe also connect-Referral, WOM, PRalterative optionsplanners, funeral local providers withfor remains-Advertisingdirectors, lawyers, people in need of(radio, niche Segment 2: EOL-Insuranceetc.their services service providersProvidersmagazines, social-Planning Platformresulting in highlymedia, search)-Domain Expertise qualified leads-UsersFixed Costs: Biz Dev Staffing, Webdevelopment, legal services Primary: referral fees from partnersSecondary: subscription & fees to accessVariable Costs: Web hosting, some additional online toolsprogramming, marketing, legal expensesTertiary: consulting fees
8. 8. Soft Sell Online self-service & Agile Development access to referral network Build a network ofPaid services: End of Life consulting and plan service providers administration-Attorneys (estate)-Financial Planners We provide peace of Segment 1: Baby Conversation support- Referral-Medical Advisors mind by helping you boomers and content - Close Partnership-Funeral Directorsplan how you want tochildren of baby-Memorial leave, and what you boomersCreators(Videograph want to leave behind.ers, artists, etc)Upper middle classWe also connect-Website to affluent-Vendors providing -Direct Mailalterative options for -Partnerships with providers with peoplein need of their -Referral, WOM, PRremainskey partners-Advertising-Insurance Providers -Planning Platform services resulting in Segment 2: EOLhighly qualified leads (radio, social service providers-Clergy & Churches -Domain Expertise media, search) -Users - Direct / Biz DevFixed Costs: Biz Dev Staffing, Web development, legalservices, customer support Primary: referral fees from partners Secondary: subscription & fees to access additional onlineVariable Costs: Web hosting, sometoolsprogramming, marketing, legal expenses Tertiary: consulting fees
9. 9.
10. 10. Other Things We Learned What happens to my stuff part is importantto people. (include photos) Starting the conversation is hard for peopleand something they need help with - many ofthe problems with end of life arecommunication based How do we help? Our target market are low commitmentplanners. They dont want to spend time andmoney with the lawyers and otherproviders, but know that some plan isneeded
11. 11. Freemium Soft SellOnline self-service plan Agile Developmentand document creation.access to referral network The BEST place to-Attorneys (estate)-Financial PlannersX Build a network of service providers clarify and organize your legacy plan.End of Life consulting andplan administration forhigh net worth individuals Low commitment: Know they need to do this but want to-Medical AdvisorsConversation supportavoid the hassle and We provide peace of-Funeral Directors-Insurance Providers-Clergy & Churches content mind by helping you plan how you want to X- Referral- Close Partnership price of estate lawyers. leave, and what you Children of baby-Memorialwant to leave behind.-Website boomers: StartingXCreators(Videographers, artists, etc)X -Partnerships withWe also connect-Direct Mail-Referral, WOM, PR the conversation.X key partnersproviders with people-Vendors providing-Advertising Affluent (for executorXalterative options forremains -Planning Platform -Domain Expertise in need of their services resulting in highly qualified leads(radio, socialmedia, search) Consulting) -UsersX- Direct / Biz Dev X Segment 2: EOL service providersFixed Costs: Biz Dev Staffing, Web development, legalservices, customer supportPrimary: referral fees from partnersPrimary: Document creation & subscription feesVariable Costs: Web hosting, some programming,Secondary: Consulting Fees for affluent clients (executormarketing, legal expenses services)
12. 12.
13. 13. Other Things We Learned People are willing to think about planningtheir own end of life wishes only afterexperiencing a trigger event Customer relationships really meanGet, Keep, Grow Direct Mail, Referral, WOM, PR &Advertising are not channels. Direct viawebsite is a channel.
14. 14. Pivot We Were ConsideringMillionDollarWheelChair.com
15. 15. GET: Search & OfflineAdvertising. Word ofMouth. PRAgile DevelopmentKEEP: Client data isConversation supportstickyThe BEST place to Low commitment:contentclarify and organizeGROW: Email & siteHave experienced ayour legacy plan. offers (later)trigger and want to-Attorneys (estate) avoid the hassle and-Financial Planners We provide peace of price of lawyers.-Medical Advisors mind by helping you-Funeral Directorsplan how you want toChildren of 60+:-Insurance Providersleave, and what you Starting the-Clergy & Churcheswant to leave behind. conversation.-Planning Platform-Domain Expertise Affluent (for executor-Users Direct to customer via consulting) websiteFixed Costs: Staffing, Web development, legalservices, customer support Primary: Document creation & subscription fees Secondary: Consulting Fees for affluent clients (executorVariable Costs: Web hosting, some web dev, some contentservices)development, marketing, legal expenses
16. 16.
17. 17. Other Things We Learned End of life planning in health care is really amess. Experts in the space and reallypushing us to provide a solution Rigorous testing is totally worth it. Some consumers want to pay a one timelifetime fee because an annual subscriptioncould actually be fairly expensive for them.
18. 18. GET: Search & OfflineAdvertising. Word ofMouth. PRAgile DevelopmentThe BEST place to KEEP: Client data isConversation supportclarify and organizestickyLow commitment:content your legacy plan.GROW: Email & siteHave experienced a-Attorneys (estate) offers (later)trigger and want to-Financial Planners We provide peace ofavoid the hassle and-Medical Advisors mind by helping youprice of lawyers.-Funeral Directorsplan how you want to-Insurance Providersleave, and what youChildren of 60+:-Clergy & Churcheswant to leave behind.Starting the- Health Care conversation.Facillities -Planning PlatformRelieve the burden Direct to customer via-Domain Expertise for your loved oneswebsiteAffluent (for executor-Usersconsulting) Health care facilitiesFixed Costs: Staffing, Web development, legalservices, customer support Primary: Document creation & subscription fees Secondary: Consulting Fees for affluent clients (executorVariable Costs: Web hosting, some web dev, some contentservices)development, marketing, legal expenses
19. 19. GET: Search & OfflineAgile DevelopmentAdvertising. Word of Mouth. PRConversation supportThe BEST place toKEEP: Client data iscontentstickyclarify and organize Low commitment:your legacy plan.Provide valid legalGROW: Email & siteHave experienced a-Attorneys (estate) templatesoffers (later)trigger and want to-Financial Planners We provide peace of avoid the hassle and-Medical Advisors mind by helping you price of lawyers.-Funeral Directorsplan how you want to-Insurance Providersleave, and what you Children of 60+:-Clergy & Churcheswant to leave behind. Starting the- Health CareDirect to customer viaconversation.Facilities-Planning PlatformRelieve the burden website-Domain Expertise for your loved ones Affluent (for executor-Users Health care facilitiesconsulting) Life Insurance?Fixed Costs: Staffing, Web development, legalFree: Individual Plan Creationservices, customer support Subscription ($24/yr): Legal document creation & sharing Lifetime access ($399): EverythingVariable Costs: Web hosting, some web dev, some contentdevelopment, marketing, legal expenses Consulting Fees for affluent clients (executor services)
20. 20.
21. 21. GET: Search & Offline Advertising. Word ofAgile DevelopmentMouth. PRSupport content The BEST place toKEEP: Client data isclarify and organize sticky Low commitment:Provide valid legal your legacy plan. GROW: Email & siteHave experienced a-Attorneys (estate) templatesoffers (later)trigger and want to-Financial Planners We provide peace of avoid the hassle and-Medical Advisors mind by helping you price of lawyers.-Funeral Directorsplan how you want to-Insurance Providersleave, and what you Children of 60+:-Clergy & Churcheswant to leave behind. Starting the- Health CareDirect to customer viaconversation.Facilities-Planning PlatformRelieve the burden website-Domain Expertise for your loved ones Affluent (for executor-Users Health care facilitiesconsulting) Life InsuranceFixed Costs: Staffing, Web development, legalFree: Individual Plan Creationservices, customer support Subscription ($45/yr): Legal document creation & sharing Lifetime access ($399): EverythingVariable Costs: Web hosting, some web dev, some contentdevelopment, marketing, legal expenses Consulting Fees for affluent clients (executor services)
22. 22. Where are we now? Alpha site is live www.mylegacyplan.org Considering a more positive positioning Validating $45 annually or $399 one-time Potentially have first board member & firstadvisor (both in health care directives space) Trying to build this into a business
23. 23. Lessons Learned Doanh: Blogging was a great way to trackprogress and weekly lessons. Video tapingour preso was good for later review. Rick: Shocking who is willing to talk to you ifyou just say hello and introduce your idea Evan: Usefulness of BMC to structure teamconversations and planning efforts Chris: Talking to as many people as possibleabout your idea is golden leads you tounexpected places
24. 24. Appendix Target Market Psychographic Current Site Mock Market Positioning & Sizing
25. 25.
26. 26. Legacy uniquely offers 4 points of value online LegacyWriter.com Dropbox / RocketLawyer.com Google Docs NoloPress Docustore DocubankInformationDocument Storage & Creation Access Legal ZoomLegacy Lawyers Conversation TechnicalSupport /Information Advice Religion Nolo Online Non-Profits Non-Profits Funeral Homes Caring.com Lawyers
27. 27.