http://youtube.com/v/oyWvEUTNtzE

Pair makes wearing glasses fun and engaging for children with customizable eyewear that can be changed on a daily basis to suit their growing personalities and express their creativity.

Nina Ligon Designer-Maker

Sophia Edelstein Marketing Maven

Nathan KondamuriGo To Market Guy

Michael VelaThe Hustler

110 Interviews

T H E B E G I N N I N G

THE BEGINNING

NAILING OUR VALUE PROP

LEARNING TOLET GO

RAPID ITERATION

WHAT WELEARNED

T H E B E G I N N I N G

Prototype★ had working prototype from

manufacturer in China

Maker Faire★ showcased and tested early

prototypes with children and parents

Cardinal Ventures★ focused on building a business model

based on assumptions and expert advice

★ Emphasized online market research, networking, and funding

B I G I D E A S

Learned what an MVP

is

Learned to let go of the

physical prototype

Learned to do rather

than discuss

Learned how to interpret interviews

T H E B M C : D A Y O N E

T H E B M C : D A Y O N E

Value Proposition:

We don’t know.

We have a duel child/parents customer base and know that both care about different things

Customer Segments:

Vague customer archetypes.

Children 5-14

Channels:

Unable to decide on one channel as the primary mode of selling.

Online, in store, physical touchpoint…

T H E B M C : D A Y O N E

O U T O F T H E B U I L D I N G

Total of 110 interviews, with 122 people interviewed

38% Kids Age 6-13

30% Parents

17% Other★ VCs★ Sales Associates★ Students★ Teenagers★ Young Adults★ Teachers

15% Optometrists

H Y P O T H E S E SExperiment Pass/Fail Results Next

MVP: Online store Pass - More to follow - 1 Customer Bought- Need to Iterate and Continue Running Experiments

Advertising the site Offering Sunglasses

Subscription model Gauge Interest

Pass - What products currently use subscription models -How are these products successful

Would people want a similar model for top frames?

Price Range Pass - kids glasses should be less expensive than adult glasses -80-150 -demographics make a difference.

Will people buy our glasses for our declared prices.

Design Your Own Pair Pass -Kids love drawing their own pairs and designs

Customizability - Frequency of Change

Pass -Gave two kids our glasses to wear for a day and they loved wearing the glasses and change them throughout the day

H Y P O T H E S E SExperiment Pass/Fail Results Next

Customizable vs. Normal

Fail -didn’t reach the right audience -confounding variables in our ads

Continue testing MVP

Hosted In Optometrist Stores

Fail -low traffic of kids-optometrist didn’t have enough incentive to showcase the glasses

Pick better location

Landing Page Dropoff

Fail -Dropped off 50% of traffic between landing page and main page

Improve Website UINo landing page

VALUE PROPOSITION

CUSTOMER SEGMENTS CHANNELS

THE BEGINNING

LEARNING TOLET GO

RAPID ITERATION

WHAT WELEARNED

VALUE PROPOSITIONCUSTOMER SEG. & CHANNELS

1. Customizable top frames

2. Base Frame with lenses

3. Direct to consumer (shipped to door)

Value Prop Canvas Before: Kids

1. Relieves children of a bad first eyesight experience

1. Customizability gives children the ability to decide what they want out of their glasses daily.

2. Allows for creativity / children can express their personalities through their top frames 1. Children like being at the

center of the decision process

2. Children want to enjoy wearing their glasses

1. Children want to find a pair of glasses they can be excited about.

1. Child doesn’t wear glasses or always forgets / loses / breaks them

2. Uncomfortable glasses

GAINS

CUSTOMER JOBS

PAINS

PAIN RELIEVERS

PRODUCT &SERVICES

GAIN CREATORS

1. Customizable top frames

2. Base Frame with lenses

3. Direct to consumer (shipped to door)

Value Prop Canvas Before: Kids

1. Relieves children of a bad first eyesight experience

1. Customizability gives children the ability to decide what they want out of their glasses daily.

2. Allows for creativity / children can express their personalities through their top frames

1. Children like being at the center of the decision process

2. Children want to enjoy wearing their glasses

1. Children want to find a pair of glasses they can be excited about.

1. Child doesn’t wear glasses or always forgets / loses / breaks them

2. Uncomfortable glasses

GAINS

CUSTOMER JOBS

PAINS

PAIN RELIEVERS

PRODUCT &SERVICES

GAIN CREATORS

GAINS

CUSTOMER JOBS

PAINSPAIN RELIEVERS

PRODUCT &SERVICES

GAIN CREATORS

Glasses have the ability to change with the kids as their interests change

Value Prop Canvas Now: Kids

Children will wear their glasses if they are involved in the process of picking them

Child doesn’t wear glasses or always forgets / loses / breaks them

Children want to find a pair of glasses they can be excited about.

Customizable top frames

Kids can express their style and creativity daily

Value Prop Canvas Before: Parents

GAINS

CUSTOMER JOBS

PAINS

PAIN RELIEVERS

PRODUCT &SERVICES

GAIN CREATORS

1. Customizable top frames

2. Base Frame with lenses

3. Direct to consumer (shipped to door)

1. Painless process for parents

1. Simple - shipped to door

1. Parents want their children to like and wear glasses / want their children to see well

1. Parents want to improve their children’s eyesight.

2. Parents want to find the best glasses for their children’s needs

1. Parents have to be the “bad guy”

Value Prop Canvas Before: Parents

GAINS

CUSTOMER JOBS

PAINS

PAIN RELIEVERS

PRODUCT &SERVICES

GAIN CREATORS

1. Customizable top frames

2. Base Frame with lenses

3. Direct to consumer (shipped to door) 1. Painless process for

parents

1. Simple - shipped to door

1. Parents want their children to like and wear glasses / want their children to see well

1. Parents want to improve their children’s eyesight.

2. Parents want to find the best glasses for their children’s needs

1. Parents have to be the “bad guy”

GAINS

CUSTOMER JOBS

PAINS

PRODUCT &SERVICES

GAIN CREATORS

Value Prop Canvas Now: Parents

Glasses that are durable, fit well, look good, and allow forcreativity

Glasses kids want to wear

Many possible designs for lower cost

Parents want their children to like and wear glasses / want their children to see well

Parents have to remind their kids to wear their glasses

Finding glasses that are durable, fit well, and look good

PAIN RELIEVERS

VALUE PROPOSITION

CUSTOMER SEGMENTS CHANNELS

THE BEGINNING

LEARNING TOLET GO

RAPID ITERATION

WHAT WELEARNED

VALUE PROPOSITIONCUSTOMER SEG. & CHANNELS

kids age 6-11 whose parents encourage creativity, self expression and a maker mindset

COMPETITIVELANDSCAPING

● We focus on children

● Customizable frames

● We establish a lasting relationship

VALUE PROPOSITION

CUSTOMER SEGMENTS CHANNELS

THE BEGINNING

LEARNING TOLET GO

RAPID ITERATION

WHAT WELEARNED

VALUE PROPOSITIONCUSTOMER SEG. & CHANNELS

Wholesale in Optical Stores

E-Commerce + Pair Store

E-Commerce

CHANNELS

Wholesale in Optical Stores

E-Commerce + Pair Store

E-Commerce

CHANNELS

B I G I D E A ! ! !

THE BEGINNING

LEARNING TOLET GO

RAPID ITERATION

WHAT WELEARNED

Obsessing over our physical prototype was . . .

1. Slowing us down

2. Preventing us from making a real MVP

3. Placing us under unnecessary physical constraints

VALUE PROPOSITIONCUSTOMER SEG. & CHANNELS

T H E B M C : D A Y O N E S O W E . . .

THE BEGINNING

LEARNING TOLET GO

RAPIDITERATION

WHAT WELEARNED

VALUE PROPOSITIONCUSTOMER SEG. & CHANNELS

R A P I D I T E R A T I O N

THE BEGINNING

LEARNING TOLET GO

RAPID ITERATION

WHAT WELEARNED

VALUE PROPOSITIONCUSTOMER SEG. & CHANNELS

A N D M O V E D O N L I N E

we got our first sale within 24 hrs!

T H E M V P

★ Fast Iteration★ Cheap★ Wide Audience★ Product Variety★ Boost Prototype

Fidelity

p r o s c o n s ★ 2 MVPs in 1★ Missing Qualitative

Data★ Need more effective

marketing channels★ Many Variables

THE BEGINNING

VALUE PROPOSITIONCUSTOMER SEG. & CHANNELS

LEARNING TOLET GO

RAPIDITERATION

WHAT WELEARNED

W H A T W E L E A R N E D

Average Lifespan: 3 YearsAverage Customer Value/Yr: $102.50Average Customer Value: $200Customer Retention Rate: 60%

M V P L E A R N I N G S

★ Prescription glasses are a time dependent buyParents aren’t always looking to buy glasses for their kidsHow can we change that or address that?

★ We need to really understand how to keep parents and children engaged

explore additional options other than just selling more top framessubscriptionupsell/cross sell

CLV = $200 > CAC = $34

L I F E T I M E V A L U E

*Average Lifespan: 3 YearsAverage Customer Value/Yr: $102.50Average Customer Value: $200Customer Retention Rate: 60%

Cost of Resources

($50.49)

Revenue is $99

Key Metrics That Matter

Financials Costs (Marketing, Production, and Distribution) = $66/unit with current estimates

G&A Costs

Revenue Profit Margin

Web Metrics Total Unique Visitors to Page Paid Visitors/Total Visitors Viral Coefficient

Customer Customer Acquisition Cost

= $34

Customer Lifetime Value

= $200

Average selling price/customer order

K E Y P L A Y E R S

Parent

$99 + [n*($15)]

Child

Pays for Glasses

Buys Glassesfor Child

Lens Provider$15

Cuts Prescription Lens

Provides Glasses with prescription? (Distribution option 1)

Send Prescription

Optometrist Provides

PrescriptionEye Exam$50

Insurance

Provides Receipt for Insurance

Frame ManufacturerFrames

(Distribution option 2)

A C O M P L E X S Y S T E M

R E M I N D E R O F D A Y 1

Children 6-11 whose parents encourage self-expression, creativity & making

Child: bought glasses before

Parents who wear glasses

Parents who are new to glasses

Lens Providers: Cuts the lenses to customer’s prescription

Publications: parenting magazines/blogs

GET: Publications, Search Ads, Community Outreach, Blogs, Word of Mouth, Glasses seen on kids

KEEP: Customer Service, Fun & Creative Communities, Loyalty

GROW: Cross-sell, Up-sell, Referrals

Online Direct to Consumer

Pediatric Ophthalmologist

Children can express their creativity through our glasses

Provide an interactive and exciting buying experience for kids

Children can express their creativity through our glasses

Children can design/draw their own glasses

Convenient and pain-free for parents

Durability, Fit, Aesthetics

-Physical: Build frames w/ CM. Manage supply chain to distribute glasses to customers monthly, annually, and bi-monthly-Intellectual: Logo, Trademarks, Design + Technical IP. -Human: Mentors, Consultants-Take/ input Pupillary Distance -Financial: Angel, F&F, kickstarter

$$ for production + distribution + operating costs

Materials, Manuf. tools and inventory

Intellectual Property

Frame manufacturer

Lens manufacturer

Licensed optician

Optical Retailers

Other children consumer product retailers

Schools

Insurance companies

Outside brand/character licensing

Celebrities/Role Models

Manufacturing

FDA Registration

Packaging +Home Try On

Distribution + Inventory

Web Dev + Maintenance

Returns + Repairs

Customer Acquisition

Sales & Marketing

Salaries + Office Space

Base Frame + 1 Top = $99Additional Tops = $15 Each

Seasonal promotions/products

Subscription

Glasses cases

Sunglasses

KEEP: extra features over customer lifetime (accessories, customization)

T H E B M C A S O F N O W

Children 6-11 whose parents encourage self-expression, creativity & making

Child: bought glasses before

Parents who wear glasses

Parents who are new to glasses

Lens Providers: Cuts the lenses to customer’s prescription

Publications: parenting magazines/blogs

GET: Publications, Search Ads, Community Outreach, Blogs, Word of Mouth, Glasses seen on kids

KEEP: Customer Service, Fun & Creative Communities, Loyalty

GROW: Cross-sell, Up-sell, Referrals

Online Direct to Consumer

Pediatric Ophthalmologist

Children can express their creativity through our glasses

Provide an interactive and exciting buying experience for kids

Children can design/draw their own glasses

Convenient and pain-free for parents

Durability, Fit, Aesthetics

-Physical: Build frames w/ CM. Manage supply chain to distribute glasses to customers monthly, annually, and bi-monthly-Intellectual: Logo, Trademarks, Design + Technical IP. -Human: Mentors, Consultants-Take/ input Pupillary Distance -Financial: Angel, F&F, kickstarter

$$ for production + distribution + operating costs

Materials, Manuf. tools and inventory

Intellectual Property

Frame manufacturer

Lens manufacturer

Licensed optician

Optical Retailers

Other children consumer product retailers

Schools

Insurance companies

Outside brand/character licensing

Celebrities/Role Models

Manufacturing

FDA Registration

Packaging +Home Try On

Distribution + Inventory

Web Dev + Maintenance

Returns + Repairs

Customer Acquisition

Sales & Marketing

Salaries + Office Space

Base Frame + 1 Top = $99Additional Tops = $15 Each

Seasonal promotions/products

Subscription

Glasses cases

Sunglasses

KEEP: extra features over customer lifetime (accessories, customization)

B I G C H A N G E SW E E K 9

Children Ages 6-11 whose parents encourage creativity, self expression, & a maker mindset; and who have bought glasses before

VP for Parents: 3 Key Factors of the GlassesDurability, Fit, and Aesthetics + Child Wears Glasses

Value in keeping and growing customers through engagement and repeat buying of top frames

Focus on an online platform/shopping experience

Children Ages 5-14- Broken into Age Segments- Broken into Gender Segments

VP for parents focused on ease

Customer Relationships focused on getting customers

3 potential channels

W E E K 1

L I F E L E S S O N S L E A R N E D

Don’t spend too much time discussing hypotheses. Go test them!

Celebrate your victories, then use them to move forward.

You can do research with more than just your direct customers

We learned what an MVP was

N E X T S T E P S★ Continue to iterate with online MVP

○ Will parents buy online?○ Test Children’s Sunglasses○ Scope Interest in Adult Market

★ Investigate Channels○ Reach parents at a time when they are

looking for children’s glasses?○ Build relationships with Optometrists to

allow us to showcase glasses in their stores

★ Revenue Streams and Pricing Strategy○ Creative ways to sell

■ subscription■ upsell and cross sell

○ What’s the right price?

Presale successful (e.g. exceed Kickstarter fundraising

goal)

K E Y M I L E S T O N E S

Optometrist agrees to host us in their store

Frame and lens manufacturers

finalized

Designs finalized and ready for production

Initial funding successful Smoke test

traction (100 orders)

Launch

T H A N K Y O U ! !

and remember...

BIG IDEA: all good things come in pairs

Backups

K E Y L E A R N I N G SValue Proposition:

Customer Segments:

Kids★ Our glasses are engaging to children, but

do not necessarily encourage them to wear their glasses more often

★ Confirmed that color is a driving factor when kids pick glasses

Parents★ Want their kids to look good ★ Want to make sure their kid’s glasses are

good quality, especially first-time buyers

Kids★ Redefined and narrowed our customer

segment to children ages 6-11 ○ Our early adopters are kids with

parents who encourage them to be creative and develop a maker mindset

Parents★ Have a better understanding of what

parents value and how to reach them○ Q ratings are a good metric for

parent engagement with different brands, including celebrities

○ We can reach parents through parenting networks, magazines, and blogs, as well as through schools, and after-school activity channels

★ Confirmed online retail as the most cost-efficient retail channel that also shows potential for growth and expansion

Channels:

T H E R O A D B L O C K WEEK 5Problems and why we were getting stuck

★ Our strategy was inefficient because we were unable to test our MVP in more than one location at a time

★ Our testing was limited to Palo Alto and surrounding areas because our physical prototypes could not be tested in places we could not easily get to physically

★ Our MVP was limited by what we could physically make ourselves in a short timeframe

What did we need to figure out that we couldn’t with current methods★ Pricing Strategy★ Quantitative user data ★ Validating customizability as an engaging feature★ Understand whether kids actually like our top frame designs★ Online store as a channel