Post on 15-Apr-2017
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UA 5 team Learn For a DollarVenture Lab – OAP Report
Project ideas
Second idea: online platform for teaching something specific or tricky online for 1-2 dollars
First idea: a website helping people achieve their goals
Project idea evolved during 2 iterations
Initial idea was developedSurvey showed that idea 1 was not viable
Idea 2 was generated. Survey showed it was viable.
Iteration 1. Realize your goals
1
2
3
Hypothesis 1. Users would be interested in communicating with other people having similar goals and ideas
Hypothesis 2. The majority of users would be willing to pay for mentorship, motivation and online coaching provided to mentors to achieve their goals
Hypothesis 3. There would be a lot of mentors who are interested in helping other people in such online project for money
Iteration 1. Realize your goals
22 participants
Users
Hypothesis 1 confirmed
Interest in communicating with people reaching similar goals
90.91%
9.09%
Interested Not interested
Iteration 1. Realize your goals
22 participants
Users
Hypothesis 2 rejected
Willingness to pay
9.09%
45.45%22.73%
22.73%
Would payWould not payWould only pay a skilled mentorNot sure
Iteration 1. Realize your goals
15 participants (7 refused to be mentors)
Experts (mentors)
Hypothesis 3 rejected
Willingness to mentor
22.73%22.73%
54.55%
Would mentor
Would not mentor
Not sure
Iteration 2. Learn For a Dollar
1
2
3
Initial startup idea was rejected. The idea was reshaped. New idea: online platform for teaching something specific or tricky online for 1-2 dollars
Hypothesis 1. The majority of users would have skills which they could teach (and would be willing to teach) in such system for $1-2 per student
Hypothesis 2. The majority of users would spend one or two dollars on learning some specific skills or tricky features
Willing to teach
72%
28%
Yes No
Iteration 2. Learn For a Dollar
Both hypotheses were confirmed
Willing to pay
68%
16%
16%
Yes Not sure No
PROJECT IS VIABLE
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