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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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