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Team
      Alice Brooks
                          Colorwheels
                          Create. Express. Inspire.
  Daniela Buchman
     Bettina Chen
     Miguel Reyes
                          Unleashing the next generation of female
          Mentors         creativity through innovative play…
    Nick O’Connor
      Ashton Udall        Parents: 69
                          Kids: 110
                          High school girls: 6
                          Experts: 32
                          Manufacturers: 6
                          Bloggers: 3
                          Survey responses: 68



                          Total: 294
E245 The Lean LaunchPad
Alice Brooks
                BS MIT Mech E


                                              Team
                MS Stanford Mech E
                Nest Labs
                Product Development, Rapid
                prototyping

                                                 Miguel Reyes
                 Bettina Chen                    BS IE (ASU)
                 BS Caltech EE                   MS MS&E (Stanford)
                 MS Stanford EE                  Intel Supply Chain, Mfg,
                 Experience at a hardware        Biz Dev, Teaching/presenting
                 startup and mentoring kids      to kids

                                                 Daniela Buchman
Mentors                                          BS Brown Univ. Mech E
Nick O’Connor                                    MS Stanford
Ashton Udall                                     Mech E
                                                 Product Dev, Teaching/
                                                 presenting to kids, finding
                                                 local resources
Original idea
We’ll combine the best features from these

                   personality
                   fun back story   +                beautiful design
                                                     intuitive joiners




                                                   infinite
+                  educational      +              combinations




                   To make a new interactive building set for girls
Original idea
We’ll combine the best features from these

                      Market Size
                   personality
                                  +
                   fun back million US females aged 5-9
                        10 story
                                                                  beautiful design
                                                                  intuitive joiners

                                 50% adoption (or so we thought...)

                                       Basic kit $40

                        5 million * $40 =                      infinite
+                  educational       +                         combinations


                        $200 million target market
                   To make a new interactive building set for girls
Agenda
   Phase 1: Customer discovery
   Phase 2: Product and experience development
   Phase 3: Channels and strategy
   Appendix

   Project timeline
Talking to parents, craigslist
analogous product postings, and
landing pages



      Testing with analogous
      products with kids
Agenda
   Phase 1: Customer discovery
   Phase 2: Product and experience development
   Phase 3: Channels and strategy
   Appendix

   Project timeline
Talking to parents, craigslist
analogous product postings, and
landing pages                     Developing the product



      Testing with analogous           Developing the experience
      products with kids               (Children’s Creativity Museum)
Agenda
   Phase 1: Customer discovery
   Phase 2: Product and experience development
   Phase 3: Channels and strategy
   Appendix

   Project timeline
Talking to parents, craigslist
analogous product postings, and                               Brainstorming new business
landing pages                     Developing the product      model ideas



      Testing with analogous           Developing the experience             Investigating MLM
      products with kids               (Children’s Creativity Museum)
Business Model Canvas                                                                   (Phase 1)
                             ColorWheels                   Alice Brooks, Daniela Buchman,
                                                           Bettina Chen, Miguel Reyes




                            Premium            Direct
                                               communication
                                                                       Parents with
                            Intuitive          Parent
Parent                                                                 college
            Marketing       instructions       community
networks                                                               degrees

                             Child’s quality
Suppliers                    of life
                                                                      Daughter (user):
             Product R&D                                              5-9 years old
             lab            Fun, unique        Web sales
                            social

            Design,
            Distribution,
            Materials,                         Asset sale (kits, add-ons)
            Manufacturing
Phase 1: Customer Discovery
Customer Discovery Goals
Customer Discovery Goals
Understand buyer’s wants, needs, and behaviors

Understand end user’s wants, needs, and behaviors

Figure out why a solution does not yet exist
What we did
What we did
Interviewed 55 parents
   - In homes, at schools and museums, on the streets
   - Landing page tests
   - Purchasing behavior

Observed 41 kids playing
 - In homes, at schools and museums
 - Their toys, analogous products, initial prototypes

Interviewed 18 experts
   - Professors, educators, toy industry veterans
Hypothesis testing
Colorwheels E245 final presentation
Colorwheels E245 final presentation
“Too mysterious”


          “Who is this for?”
Colorwheels E245 final presentation
“What am I supposed to
do now?”
Colorwheels E245 final presentation
6 purchases
Key Learnings
           Hands-on learning
 Parents   Convenient purchasing decision
           Educated STEM parents

           Fun to assemble and decorate
    Kids   Community
           Girls aged 6-10

           This problem is the holy grail
 Experts   Differences in development correctable
           through play
Susan (STEM Mother)
                            She’s a scientist.
                            Household income: $80k+
                            She works 60+ hours a week and is incredibly busy.

                            Motivations
                            Needs educational toys/after school activities, so she
                              can feel good about her daughter’s intellectual
                              development.
                            Wants to do anything she can to help her daughter
                              prepare for college.
Colorwheels Angle
Heard about colorwheels through other moms; signs up for the mailing list and gets
  information/deals.
Older “Mary Kay” girls are good role models for her daughter. Give her daughter
  something to aspire to
Susan (STEM Mother)
                          She’s a scientist.
                          Household income: $80k+
       She works       60+She works a week a week and is incredibly busy.
                           hours 60+ hours
       and is incredibly busy
                      Motivations
                      Needs educational toys/after school activities, so she
                        can feel good about her daughter’s intellectual
       Anything to help development.
                         her daughter
                      Wants to do anything she can to help her daughter
       prepare for college for college.
                        prepare
Colorwheels Angle
Heard about colorwheels through other moms; signs up for the mailing list and gets
        Heard about Colorwheels
  information/deals.
Older “Mary Kay” girls are good role models for her daughter. Give her daughter
        through other moms
  something to aspire to
Maya, 8 years old
Attends piano lessons, soccer practice, girl
  scouts, and advanced math classes after
  school.
Her mother is a neurologist.

Motivations
Likes playing with her friends and
     doing group activities
Is interested in science but also likes
     playing pretend with her friends.

Colorwheels Angle
Way more fun than math classes and she gets
   to play with her friends.
Interacts with “cool” older girls that help her
   build her projects.
Maya, 8 years old
Attends piano lessons, soccerafter school
                    Many practice, girl           activities
  scouts, and advanced math classes after
  school.
Her mother is a neurologist.

         Playing with friends
Motivations
Likes playing with her friends and
     doing group activities
Is interested in science but also likes
     playing pretend with her friends.
 Looks up to older girls
Colorwheels Angle
Way more fun than math classes and she gets
   to play with her friends.
Interacts with “cool” older girls that help her
   build her projects.
Phase 2: Product and experience
development
Business Model Canvas                                                         (Phase 2)



              Learning topic   Quick and      Proven toys
                               convenient buy                          Parents with
                                              Can't wait for           college degrees,
Online        Interactive      Keep daughters the next                 busy lifestyles
Marketplace   material         occupied       shipment
                               Fun to
              Parents:         assemble and
                               decorate                            Daughter (user): 
Retail        Playdates                         Online sales
                                                                   7 to 9 years old
                               Intuitive
              Girls: create
                               instructions
              and advocate
                               Hands-on learning
          Design,
          Distribution,                   Asset sale (kits, add-ons)
          Materials,
          Manufacturing                            Monthly Subscription
Revised Product Idea                                    (DIY electronic kit)

Skills Developed: Fine motor skills by      Vision: Use our line-up of toys to build
    assembling the toy, spatial cognition      Colorwheel City

Benefits: Learn about voltage, solar         Social Proof: Show off masterpiece on
  power, how circuits turn on/off              website
Product and Experience Goals
Product and Experience Goals
Determine if our presence is necessary in the current model for
the experience to succeed

Product that girls can learn from independently, with minimal
parental involvement and stay engaged
What we did
What we did
Removed ourselves from the experience
Shipped 12 MVP kits to local families

Tested social play and competition as motivator
Hosted after school program at Duveneck

Mimicked Girl Scout community and culture to test engagement
Hosted 2 sessions at SF Children’s Creativity Museum
Hypothesis testing
Key Learnings
           Experience is more important than the product
 MVP       Parents and kids are busy
           Varied parent expectations of the experience
           Diminishing returns: 12 kits not necessary
           Competition!
Duveneck   More fun in a group
           Parents prefer safe apps to website for kids
           Excitement at badges, community feel
 CCM       The experience is essential
           We are part of the product and the experience

How do we provide more role models?
Experience > Product
Capitalize on this with:
- Party Packages
- Physical store
- Colorwheels Team Video Series
- School programs, after school
and weekends

- Young Mary Kay type agents
Experience > Product
Phase 3: Channels, Strategy
What we did
4 Main Areas:
   Experience trumps product
   Channels
   Girl Scout model
   Market Broadening via MLM

Kept coming back to our 3 core principles:
	

 Girls
	

 STEM
	

 Hands-on learning
Business Model Canvas                                                                                            (Phase 3)
                                            ColorWheels                             Alice Brooks, Daniela Buchman,
                                                                                    Bettina Chen, Miguel Reyes




                                           Quick, convenient
                        Learning topics                            iPad app
                                           buy
Referrers                Video demos                                Merit based level up
                                           Creativity and skills                                Educated STEM
(parents and                               development                                          parents
                         Host classes                              Parent community
bloggers)
                         and camps         Assemble and
Older kids - role                                                                               Tiger moms
models - young                             decorate
                        Train young reps
reps                                                                                             Gift givers
                                            Kids community
Kids: Build, post                           Parents community       Online sales
online, share           Educational                                                              Daughter (user): 
                        content                                    Schools, Museum gift          7 to 9 years old
                                           Hands-on learning       shops, Camps,
 Educational                                                       Homeschool Co-op,
                        Kit Packager
  institution                                                      After school programs,
                        Supply Chain
                                                                   Flash sale sites


        Design, Distribution, Materials,                   Multi-level marketing
        Manufacturing
Business Model Canvas                                                                                           (Phase 3)
                                            ColorWheels                            Alice Brooks, Daniela Buchman,
                                                                                   Bettina Chen, Miguel Reyes




                                           Quick, convenient
                        Learning topics                            iPad app

Referrers                Video demos
                                           buy
                                                                       Merit-based Level up
                                                                   Merit based level up
                                           Creativity and skills                    Educated STEM
(parents and
bloggers)
                         Host classes      development                 (Gamification)
                                                                   Parent community
                                                                                    parents
  Older Kids as
Older kids - role
                         and camps         Assemble and                                        Tiger moms
                                           decorate
  Role Models young reps
models - young
reps
            Train
                                                                                                Gift givers
                                            Kids community
Kids: Build, post                           Parents community       Online sales
online, share           Educational                                                             Daughter (user): 
                        content                                    Schools, Museum gift         7 to 9 years old
                                           Hands-on learning       shops, Camps,
 Educational                                                       Homeschool Co-op,
                        Kit Packager
  institution                                                      After school programs,
                        Supply Chain
                                                                   Flash sale sites

                                                                      Multi-level
        Design, Distribution, Materials,                   Multi-level Marketing
                                                                       marketing
        Manufacturing
Updated Market Size (Online sales)
“Online/Internet sales experiencing the most explosive revenue growth over 2009 at 22 percent.”


US market size for building sets (2010): $1.2 billion (2x the 2004
market size)
– NPD Press Release
                                              7.5M households with girls 5-9

                                              20% of US households make over $92K
        US Toy Market
         $21.23 billion                       7.5*0.20 = 1.5M

                                              Expect to get 30% of those households = 450K

                        Target Market         450K*$100 = 45M
                        $45 million
                                              ($100 comes from subscription and also from
                                              analogous toys that these households are willing to
                                              spend on)
Channels and Analytics
Summary of results
Channel Funnel
                 6 kits sold*$20/kit=$120 revenue

                 $120-6kits*$8materials/kit=>$72 profit

                 Cost of advertising (wildfire) = $13.91


                                         acquisition	
  
                          revenue profit
                                            cost
                 visitors $0.17 $0.10      $0.02
                 emails $0.78 $0.47        $0.09
                  sales $20.00 $12.00      $2.32
Customer map
    SF!
 Palo Alto!
                         Ohio!
 Sunnyvale!
                 Utah!
                            1!
     3!         1!                       1!
                                             Virginia!




2 gift givers
4 parents
                            http://www.curtainrising.com/gallery/us_outline.gif
Girl Scout Model
Michelle, Junior in high school, 16
Attends high school at a top school and is
  applying to 15 top colleges for applied math.
“She’s more interested in the experience than
  the pay”
Motivations
Wants something to help her get into excellent
  four year college and pursue her degree in
  applied math.
Colorwheels Angle
Flexible working hours
Great college application enhancer
Money

About 106K female students from the class of 2011 scored a 3 or higher on a STEM AP test
Michelle, Junior in high school, 16
Attends high school at a interestedand the
          “She’s more    top school in is
  applying to 15 top colleges for applied math.
          experience in the the pay” than
“She’s more interested
                        than experience
  the pay”
Motivations
Wants something to workingget into excellent
            Flexible help her hours
  four year college and pursue her degree in
  applied math.
Colorwheels Angle
           Great college application
Flexible working hours
           enhancer
Great college application enhancer
Money

About 106K female students from the class of 2011 scored a 3 or higher on a STEM AP test
Key Learnings
Channels   Better ways to reach target market
           Don’t leave out the gift givers


   MLM     Evangelists: highly motivated teenagers
           Effectively train and retain


Partners   Exposure through: Local partnerships
           Bloggers: Required $$ or followers
Company Vision
This decade we will inspire and unleash the next generation
of female creativity to accelerate the growth of females in the
STEM field.




Core Principles
Hands-on Learning
STEM (Science, Tech, Engr, and Math)
Geared towards girls
Overall Project Take-aways
1. Advice ≠ Wisdom
	

 *pick out what makes the most sense

2. Titles ≠ Roles
	

 *fully democratic was too slow

3. Building a product ≠ Building a company
	

 *investigate “product-market fit” as well

4. Successful entrepreneurs = Don’t give up
	

 *Get used to picking yourself up
Moving Forward




      Officially starts next week!

      https://fbcdn-sphotos-a.akamaihd.net/hphotos-ak-ash4/294574_197561530304090_177206045672972_532357_7049749_n.jpg
User Testing

       Appendix
Business Model Canvas                                                                                                                    (week 1)
                                                              ColorWheels                                   Alice Brooks, Daniela Buchman,
                                                                                                            Bettina Chen, Miguel Reyes




                                                                                                                Parents: Paying
                                                                                                                Customer
                                                                                      Direct communication with - High level of
Partners: School of       Manufacturing                                               customer online
                                                             Cost: “premium” toys are                           involvement with child
Education, Bay Area Mom/ Product R&D                                                  Retention and customer
                                                             expensive                                          - College degrees in
Dad blog groups, Bay Area Marketing                                                   loyalty by offering free
                                                             Appeal: educational                                math, science, or
parent association                                                                    sample of new products
                                                             usually means boring and                           engineering
                                                             unattractive             Parent blogs/community
Suppliers:  Manufacturer,                                    Design: instructions are
stores providing building                                    typically not kid-friendly                                Daughter (user):
materials                                                    Retention: limited                                        - 5-9 years old
                                                             Value for Parents: increase
                                                             child’s quality of life by
                               Outsourced manufacturer
                                                             providing them with a fun,
                               R&D lab for prototyping
                                                             educational, and effective
                               Behavioral data of children
                                                             toy
                                                             Value for Kids: fun, unique
                                                             social (online component) Web sales



                            Product design costs                                                   Basic Kits ($40 List Price)
                            Distribution, S&H costs                                                Add-ons/Specialized accessories
                            Materials, Manufacturing                                               ($15-20 List Price)
                            costs
Business Model Canvas                                                                                                               (week 2)
                                                      ColorWheels                                      Alice Brooks, Daniela Buchman,
                                                                                                       Bettina Chen, Miguel Reyes




                                                                                    User base: show off their
                                                     Quick & Convenient             masterpiece                   Parents: Paying
                                                     - approval/rec by other                                      Customer
                                                     parents (faster decision                                     - High level of
                          Continuous stream of
Online Marketplace                                   making)                        Looking for MORE!: Kids       involvement with child
                          newly designed
- Amazon                                             - add-ons shipped to           can’t wait to receive the     - College degrees in
                          products (Base Kits,
- eBay                                               household every month          next thing they chose for     math, science, or
                          Add-ons)                   (less need to shop for         this month                    engineering
                                                     new toys)
                                                     - info, videos, testimonials
Retail                                               provided on the website
- Local toy stores                                   (well informed purchase)       Website: winning post     Daughter (user):
                          Parents, Mommy
- Independent niche
                          bloggers, Parent groups:                                  every month gets featured - 5-9 years old
store
                          word-of mouth,             Skills developed:
                          recommend our toys         - fine motor skills             Retention: kid chooses on
                                                     - spatial cognition            the website the next add
                          User base: need kids to                                   on to receive
                                                     Kid built the product
                          share creations from the   - fun, unique                  Product demos: after-
                          kits online                - self esteem, confidence       school centers, Little
                                                     - chance to be creative        League, YMCA, Innovation       One time purchase:
                                                                                    Museum, Children’s             $30 base model kit
                      Product design costs                                          Museum
                      Distribution, S&H costs
                      Materials, Manufacturing                                                                     Subscription
                      costs                                                                                        $20 for one add on per
                                                                                                                   month
Business Model Canvas                                                                                    (week 3)


                      Incorporate formal                                Rely on
                                               Quick, convenient,
                      learning topics into                              Colorwheels for
                                               informed purchasing                            Parents (paying
                      product                                           proven set of toys
Online Marketplace                             decision                                       customer): High level
                      Create interactive                                                      of involvement with
- Amazon
                      material                 Keep daughters           Can't wait for the    child
- eBay
                      (instructional           occupied with non        next shipment to      College degrees in
                      videos, stories, etc.)   princess toy             create and decorate   STEM
Retail
                                                                                              Limited free time
- Local toy stores
                       Parents/                Fun to assemble and                            from busy lifestyle
- Independent
niche                  Community host          decorate                 Online sales
store                  play dates, word of
                       mouth                   Effective and                                  Daughter (user): 
                                               intuitive instructions                         - 7 to 9 years old
                       Girls: create, wear,
                       advocate, and share     Hands-on learning
                       the product                                                            One time purchase:
                                                                                              $30 base model kit
       Product design costs
       Distribution, S&H costs                                                                Subscription
       Materials, Manufacturing costs                                                         $20 for one add on per
                                                                                              month
Business Model Canvas                                                                                  (week 4)


                      Incorporate learning
                      topics                 Quick, convenient,        Club Colorwheels
                      Create interactive     informed purchasing       (online            Parents (paying
Referrers (parents    material               decision                  community)         customer): High level
and bloggers)                                                                             of involvement with
                       Marketing                                                          child
                       (Exposure,            Creativity and skills
                                                                                          College degrees in
                       product demos)        development
                                                                                          STEM
                                                                                          Limited free time
Kids: Build, post                            Fun to assemble and                          from busy lifestyle
online, share                                decorate                 Online sales        Gift giver
                         Kit Packager        Effective and                                Daughter (user): 
                         Supply Chain        intuitive instructions                       - 7 to 9 years old
 Educational non-
 profit institution                           Hands-on learning
                                                                                          One time purchase:
                                                                                          $30 base model kit
       Product design costs
       Distribution, S&H costs                                                            Subscription
       Materials, Manufacturing costs                                                     $20 for one add on per
                                                                                          month
same as last week
                                                                                                                          new this week



Business Model Canvas                                                                                              (week 5)
                                               ColorWheels                            Alice Brooks, Daniela Buchman,
                                                                                      Bettina Chen, Miguel Reyes




                      Incorporate learning
                      topics                 Quick, convenient,        Private online
                                             informed purchasing       space or iPad app         Parents (paying
                      Create interactive     decision                                            customer): High level
Referrers (parents    material                                                                   of involvement with
and bloggers)
                      Host after-            Creativity and skills     Level up system           child
                      school programs        development                                         College degrees in
                                                                                                 STEM
                                              Eco friendly                                       Limited free time
Kids: Build, post                            Fun to assemble and      Online sales               from busy lifestyle
online, share                                decorate
                                                                      Schools                Gift giver
  Educational          Kit Packager          Effective and            Museum gift shops
  non-profit            Supply Chain          intuitive instructions   Camps                  Daughter (user): 
   institution                                                        Homeschool networks 7 to 9 years old
                                             Hands-on learning        After school programs
                                                                      Online flash sale sites

       Product design costs
       Distribution, S&H costs                                                           Subscription
       Materials, Manufacturing costs                           One time purchase:       $20 for one add on per
                                                                $30 base model kit       month
same as last week
                                                                                                                                         new this week



Business Model Canvas  Train young reps
                                                                                                                                  (week 6)
                          Incorporate learning     ColorWheels                                       Alice Brooks, Daniela Buchman,
                                                                                                     Bettina Chen, Miguel Reyes
                          topics
                                                                              Private online space
                          Make video                                          or iPad app
                          demonstrations         Quick, convenient,                                                      Parents (paying
                                                 informed purchasing                                                     customer): High level of
                                                 decision                    Merit based level up -                      involvement with child
                       Host after-school and
                       weekend programs,                                     Girl Scout model                            College degrees in STEM
Referrers (parents
                       summer camps and          Creativity and skills                                                   Limited free time from
and bloggers)
                       spring break camps        development                                                             busy lifestyle
                                                                            Parent community
Older kids - role                                Fun to assemble and
models - young reps                              decorate
                                                                                                                  Tiger moms
                                                 Kids: Community with
Kids: Build, post          Free educational      other kids, shared           Online sales
online, share              content               culture
                                                 Parents: Way to link up                                         Gift giver - aunts and
                                                                              Schools                            uncles, grandparents
                           Kit Packager          Hands-on learning            Museum gift shops
 Educational non-
 profit institution         Supply Chain                                       Camps
                                                 Educational
                                                 extracurricular              Homeschool Co-op
                                                 activity                     After school programs               Daughter (user): 
                                                                              Online flash sale sites              7 to 9 years old


        Product design costs                                  One time purchase:
        Distribution, S&H costs                               $20 base model kit                              Subscription for additional
        Materials, Manufacturing costs                                                                        content
                                                         Event hosting (eg birthday parties)
                                                                                                        Camps, after school and weekend classes
Business Model Canvas                                                                                                             (week 7)
                                                     ColorWheels                                     Alice Brooks, Daniela Buchman,
                                                                                                     Bettina Chen, Miguel Reyes




                         Train young reps
                                                    Quick, convenient,
                         Incorporate learning                                    Merit based level up -
                                                    informed purchasing
                         topics                                                  Girl Scout model
Referrers (parents                                  decision                                                   Educated, STEM Parents
                         Make video          5
and bloggers)                                      Creativity and skills
                         demonstrations                                                                         Tiger moms
                                                   development                   Parent community
                         Gamification of learning
Educational non-                                   Fun to assemble and                                    7
                         Google adwords                                                                         Gift giver - aunts and
profit institution                                  decorate                                                     uncles, grandparents
                                                    Kids: Community with
                                                    other kids, shared                                          Daughter (user): 
                         Free educational           culture                                                     6 to 10 years old
                         content                    Parents: Way to link up      Online sales
                                                                                                      20
                          Kit Packager             Hands-on learning             Schools
                          Supply Chain                                           Museum gift shops
                                                   Educational                   Homeschool Co-op
                                                   extracurricular         169                                                        169
                    7                        8                                   After school programs
                                                   activity



                                                                                          Monthly subscription (1 month free trials)
       Product design costs
       Distribution, S&H costs                                                           Multi-level marketing
       Materials, Manufacturing costs                   4                                (Mary Kay model)                                   15
Business Model Canvas                                                                                                             (week 8)
                                                     ColorWheels                                     Alice Brooks, Daniela Buchman,
                                                                                                     Bettina Chen, Miguel Reyes




                         Train young reps
                                                    Quick, convenient,
                         Incorporate learning                                    Merit based level up -
                                                    informed purchasing
                         topics                                                  Girl Scout model
Referrers (parents                                  decision                                                   Educated, STEM Parents
                         Make video          5
and bloggers)                                      Creativity and skills
                         demonstrations                                                                         Tiger moms
                                                   development                   Parent community
                         Gamification of learning
Educational non-                                   Fun to assemble and                                    7
                         Google adwords                                                                         Gift giver - aunts and
profit institution                                  decorate                                                     uncles, grandparents
                                                    Kids: Community with
                                                    other kids, shared                                          Daughter (user): 
                         Free educational           culture                                                     6 to 10 years old
                         content                    Parents: Way to link up      Online sales
                                                                                                      20
                          Kit Packager             Hands-on learning             Schools
                          Supply Chain                                           Museum gift shops
                                                   Educational                   Homeschool Co-op
                                                   extracurricular         169                                                        169
                    7                        8                                   After school programs
                                                   activity




       Product design costs
       Distribution, S&H costs                                                           Kit and subscription through
       Materials, Manufacturing costs                   4                                MLM                                                20
C change from previous week
                                     S same as previous week


 BMC changes chart
         2     3     4     5     6     7     8
 KP      C     S     C     S    C/S    S     S
 KA      C     C    C/S   C/S   C/S    C     S
 KR      C     C     C     S    C/S    S     S
 C$      S     C     S     S     S     S     S
 VP      C     C    C/S   C/S   C/S    S     S
 CR      C     C     C    C/S   C/S    S     S
 CH      C     C     S    C/S    S     S     S
 CS      S     C    C/S    S     S     S     S
 R$      C     S     S     S    C/S    C     C
Totals 7C/2S 6C/3S 6C/6S 4C/9S 6C/9S 2C/7S 1C/8S
BMC Weekly Changes Comparison
Operations Timeline
Multi-Level Marketing in Action
Stella and Dot
Sell the Story: work from home, flexible
“Stella & Dot is so much more than a
 fashion brand we're a company
 inspired by, and created for, strong,
 savvy women from all walks of life.”

Chloe and Isabel
Sellers age 19-27, sellers interact
with customers in online
community originally, founder
worked for major jewelry
companies. Tiffany’s etc.
Summary of results
Few responses from bloggers: 2 of the 3
responses requested money to advertise us

Sweepstakes upped our “Likes” on Facebook to
837 from 50

Email marketing campaign to 150 people
yielded 1 purchase out of 29 clicks
Physics'C:'E&M'

About	
  106,000	
  female	
  students	
  from	
  the	
  class	
  of	
  2011	
  
  scored	
  a	
  3	
  or	
  higher	
  on	
  a	
  STEM	
  AP	
  test.	
  

By	
  parCcipaCng	
  as	
  a	
  colorwheels	
  ambassador,	
  high	
  school	
  
  girls	
  will	
  have	
  more	
  confidence	
  in	
  their	
  STEM	
  abiliCes.

Long	
  term	
  goal:	
  	
  start	
  programs	
  to	
  help	
  high	
  school	
  girls	
         Sta0s0cs'
  take	
  more	
  STEM	
  AP	
  classes	
  and	
  get	
  involved	
  in	
  more	
  
  STEM	
  acCviCes,	
  ex:	
  FIRST	
  RoboCcs,	
  Science	
  Fairs	
  	
  

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Colorwheels E245 final presentation

  • 1. Team Alice Brooks Colorwheels Create. Express. Inspire. Daniela Buchman Bettina Chen Miguel Reyes Unleashing the next generation of female Mentors creativity through innovative play… Nick O’Connor Ashton Udall Parents: 69 Kids: 110 High school girls: 6 Experts: 32 Manufacturers: 6 Bloggers: 3 Survey responses: 68 Total: 294 E245 The Lean LaunchPad
  • 2. Alice Brooks BS MIT Mech E Team MS Stanford Mech E Nest Labs Product Development, Rapid prototyping Miguel Reyes Bettina Chen BS IE (ASU) BS Caltech EE MS MS&E (Stanford) MS Stanford EE Intel Supply Chain, Mfg, Experience at a hardware Biz Dev, Teaching/presenting startup and mentoring kids to kids Daniela Buchman Mentors BS Brown Univ. Mech E Nick O’Connor MS Stanford Ashton Udall Mech E Product Dev, Teaching/ presenting to kids, finding local resources
  • 3. Original idea We’ll combine the best features from these personality fun back story + beautiful design intuitive joiners infinite + educational + combinations To make a new interactive building set for girls
  • 4. Original idea We’ll combine the best features from these Market Size personality + fun back million US females aged 5-9 10 story beautiful design intuitive joiners 50% adoption (or so we thought...) Basic kit $40 5 million * $40 = infinite + educational + combinations $200 million target market To make a new interactive building set for girls
  • 5. Agenda Phase 1: Customer discovery Phase 2: Product and experience development Phase 3: Channels and strategy Appendix Project timeline Talking to parents, craigslist analogous product postings, and landing pages Testing with analogous products with kids
  • 6. Agenda Phase 1: Customer discovery Phase 2: Product and experience development Phase 3: Channels and strategy Appendix Project timeline Talking to parents, craigslist analogous product postings, and landing pages Developing the product Testing with analogous Developing the experience products with kids (Children’s Creativity Museum)
  • 7. Agenda Phase 1: Customer discovery Phase 2: Product and experience development Phase 3: Channels and strategy Appendix Project timeline Talking to parents, craigslist analogous product postings, and Brainstorming new business landing pages Developing the product model ideas Testing with analogous Developing the experience Investigating MLM products with kids (Children’s Creativity Museum)
  • 8. Business Model Canvas (Phase 1) ColorWheels Alice Brooks, Daniela Buchman, Bettina Chen, Miguel Reyes Premium Direct communication Parents with Intuitive Parent Parent college Marketing instructions community networks degrees Child’s quality Suppliers of life Daughter (user): Product R&D 5-9 years old lab Fun, unique Web sales social Design, Distribution, Materials, Asset sale (kits, add-ons) Manufacturing
  • 9. Phase 1: Customer Discovery
  • 11. Customer Discovery Goals Understand buyer’s wants, needs, and behaviors Understand end user’s wants, needs, and behaviors Figure out why a solution does not yet exist
  • 13. What we did Interviewed 55 parents - In homes, at schools and museums, on the streets - Landing page tests - Purchasing behavior Observed 41 kids playing - In homes, at schools and museums - Their toys, analogous products, initial prototypes Interviewed 18 experts - Professors, educators, toy industry veterans
  • 17. “Too mysterious” “Who is this for?”
  • 19. “What am I supposed to do now?”
  • 22. Key Learnings Hands-on learning Parents Convenient purchasing decision Educated STEM parents Fun to assemble and decorate Kids Community Girls aged 6-10 This problem is the holy grail Experts Differences in development correctable through play
  • 23. Susan (STEM Mother) She’s a scientist. Household income: $80k+ She works 60+ hours a week and is incredibly busy. Motivations Needs educational toys/after school activities, so she can feel good about her daughter’s intellectual development. Wants to do anything she can to help her daughter prepare for college. Colorwheels Angle Heard about colorwheels through other moms; signs up for the mailing list and gets information/deals. Older “Mary Kay” girls are good role models for her daughter. Give her daughter something to aspire to
  • 24. Susan (STEM Mother) She’s a scientist. Household income: $80k+ She works 60+She works a week a week and is incredibly busy. hours 60+ hours and is incredibly busy Motivations Needs educational toys/after school activities, so she can feel good about her daughter’s intellectual Anything to help development. her daughter Wants to do anything she can to help her daughter prepare for college for college. prepare Colorwheels Angle Heard about colorwheels through other moms; signs up for the mailing list and gets Heard about Colorwheels information/deals. Older “Mary Kay” girls are good role models for her daughter. Give her daughter through other moms something to aspire to
  • 25. Maya, 8 years old Attends piano lessons, soccer practice, girl scouts, and advanced math classes after school. Her mother is a neurologist. Motivations Likes playing with her friends and doing group activities Is interested in science but also likes playing pretend with her friends. Colorwheels Angle Way more fun than math classes and she gets to play with her friends. Interacts with “cool” older girls that help her build her projects.
  • 26. Maya, 8 years old Attends piano lessons, soccerafter school Many practice, girl activities scouts, and advanced math classes after school. Her mother is a neurologist. Playing with friends Motivations Likes playing with her friends and doing group activities Is interested in science but also likes playing pretend with her friends. Looks up to older girls Colorwheels Angle Way more fun than math classes and she gets to play with her friends. Interacts with “cool” older girls that help her build her projects.
  • 27. Phase 2: Product and experience development
  • 28. Business Model Canvas (Phase 2) Learning topic Quick and Proven toys convenient buy Parents with Can't wait for college degrees, Online Interactive Keep daughters the next busy lifestyles Marketplace material occupied shipment Fun to Parents: assemble and decorate Daughter (user):  Retail Playdates Online sales 7 to 9 years old Intuitive Girls: create instructions and advocate Hands-on learning Design, Distribution, Asset sale (kits, add-ons) Materials, Manufacturing Monthly Subscription
  • 29. Revised Product Idea (DIY electronic kit) Skills Developed: Fine motor skills by Vision: Use our line-up of toys to build assembling the toy, spatial cognition Colorwheel City Benefits: Learn about voltage, solar Social Proof: Show off masterpiece on power, how circuits turn on/off website
  • 31. Product and Experience Goals Determine if our presence is necessary in the current model for the experience to succeed Product that girls can learn from independently, with minimal parental involvement and stay engaged
  • 33. What we did Removed ourselves from the experience Shipped 12 MVP kits to local families Tested social play and competition as motivator Hosted after school program at Duveneck Mimicked Girl Scout community and culture to test engagement Hosted 2 sessions at SF Children’s Creativity Museum
  • 35. Key Learnings Experience is more important than the product MVP Parents and kids are busy Varied parent expectations of the experience Diminishing returns: 12 kits not necessary Competition! Duveneck More fun in a group Parents prefer safe apps to website for kids Excitement at badges, community feel CCM The experience is essential We are part of the product and the experience How do we provide more role models?
  • 36. Experience > Product Capitalize on this with: - Party Packages - Physical store - Colorwheels Team Video Series - School programs, after school and weekends - Young Mary Kay type agents
  • 38. Phase 3: Channels, Strategy
  • 39. What we did 4 Main Areas: Experience trumps product Channels Girl Scout model Market Broadening via MLM Kept coming back to our 3 core principles: Girls STEM Hands-on learning
  • 40. Business Model Canvas (Phase 3) ColorWheels Alice Brooks, Daniela Buchman, Bettina Chen, Miguel Reyes Quick, convenient Learning topics iPad app buy Referrers Video demos Merit based level up Creativity and skills Educated STEM (parents and development parents Host classes Parent community bloggers) and camps Assemble and Older kids - role Tiger moms models - young decorate Train young reps reps Gift givers Kids community Kids: Build, post Parents community Online sales online, share Educational Daughter (user):  content Schools, Museum gift 7 to 9 years old Hands-on learning shops, Camps, Educational Homeschool Co-op, Kit Packager institution After school programs, Supply Chain Flash sale sites Design, Distribution, Materials, Multi-level marketing Manufacturing
  • 41. Business Model Canvas (Phase 3) ColorWheels Alice Brooks, Daniela Buchman, Bettina Chen, Miguel Reyes Quick, convenient Learning topics iPad app Referrers Video demos buy Merit-based Level up Merit based level up Creativity and skills Educated STEM (parents and bloggers) Host classes development (Gamification) Parent community parents Older Kids as Older kids - role and camps Assemble and Tiger moms decorate Role Models young reps models - young reps Train Gift givers Kids community Kids: Build, post Parents community Online sales online, share Educational Daughter (user):  content Schools, Museum gift 7 to 9 years old Hands-on learning shops, Camps, Educational Homeschool Co-op, Kit Packager institution After school programs, Supply Chain Flash sale sites Multi-level Design, Distribution, Materials, Multi-level Marketing marketing Manufacturing
  • 42. Updated Market Size (Online sales) “Online/Internet sales experiencing the most explosive revenue growth over 2009 at 22 percent.” US market size for building sets (2010): $1.2 billion (2x the 2004 market size) – NPD Press Release 7.5M households with girls 5-9 20% of US households make over $92K US Toy Market $21.23 billion 7.5*0.20 = 1.5M Expect to get 30% of those households = 450K Target Market 450K*$100 = 45M $45 million ($100 comes from subscription and also from analogous toys that these households are willing to spend on)
  • 44. Summary of results Channel Funnel 6 kits sold*$20/kit=$120 revenue $120-6kits*$8materials/kit=>$72 profit Cost of advertising (wildfire) = $13.91 acquisition   revenue profit cost visitors $0.17 $0.10 $0.02 emails $0.78 $0.47 $0.09 sales $20.00 $12.00 $2.32
  • 45. Customer map SF! Palo Alto! Ohio! Sunnyvale! Utah! 1! 3! 1! 1! Virginia! 2 gift givers 4 parents http://www.curtainrising.com/gallery/us_outline.gif
  • 47. Michelle, Junior in high school, 16 Attends high school at a top school and is applying to 15 top colleges for applied math. “She’s more interested in the experience than the pay” Motivations Wants something to help her get into excellent four year college and pursue her degree in applied math. Colorwheels Angle Flexible working hours Great college application enhancer Money About 106K female students from the class of 2011 scored a 3 or higher on a STEM AP test
  • 48. Michelle, Junior in high school, 16 Attends high school at a interestedand the “She’s more top school in is applying to 15 top colleges for applied math. experience in the the pay” than “She’s more interested than experience the pay” Motivations Wants something to workingget into excellent Flexible help her hours four year college and pursue her degree in applied math. Colorwheels Angle Great college application Flexible working hours enhancer Great college application enhancer Money About 106K female students from the class of 2011 scored a 3 or higher on a STEM AP test
  • 49. Key Learnings Channels Better ways to reach target market Don’t leave out the gift givers MLM Evangelists: highly motivated teenagers Effectively train and retain Partners Exposure through: Local partnerships Bloggers: Required $$ or followers
  • 50. Company Vision This decade we will inspire and unleash the next generation of female creativity to accelerate the growth of females in the STEM field. Core Principles Hands-on Learning STEM (Science, Tech, Engr, and Math) Geared towards girls
  • 51. Overall Project Take-aways 1. Advice ≠ Wisdom *pick out what makes the most sense 2. Titles ≠ Roles *fully democratic was too slow 3. Building a product ≠ Building a company *investigate “product-market fit” as well 4. Successful entrepreneurs = Don’t give up *Get used to picking yourself up
  • 52. Moving Forward Officially starts next week! https://fbcdn-sphotos-a.akamaihd.net/hphotos-ak-ash4/294574_197561530304090_177206045672972_532357_7049749_n.jpg
  • 53. User Testing Appendix
  • 54. Business Model Canvas (week 1) ColorWheels Alice Brooks, Daniela Buchman, Bettina Chen, Miguel Reyes Parents: Paying Customer Direct communication with - High level of Partners: School of Manufacturing customer online Cost: “premium” toys are involvement with child Education, Bay Area Mom/ Product R&D Retention and customer expensive - College degrees in Dad blog groups, Bay Area Marketing loyalty by offering free Appeal: educational math, science, or parent association sample of new products usually means boring and engineering unattractive Parent blogs/community Suppliers:  Manufacturer, Design: instructions are stores providing building typically not kid-friendly Daughter (user): materials Retention: limited - 5-9 years old Value for Parents: increase child’s quality of life by Outsourced manufacturer providing them with a fun, R&D lab for prototyping educational, and effective Behavioral data of children toy Value for Kids: fun, unique social (online component) Web sales Product design costs Basic Kits ($40 List Price) Distribution, S&H costs Add-ons/Specialized accessories Materials, Manufacturing ($15-20 List Price) costs
  • 55. Business Model Canvas (week 2) ColorWheels Alice Brooks, Daniela Buchman, Bettina Chen, Miguel Reyes User base: show off their Quick & Convenient masterpiece Parents: Paying - approval/rec by other Customer parents (faster decision - High level of Continuous stream of Online Marketplace making) Looking for MORE!: Kids involvement with child newly designed - Amazon - add-ons shipped to can’t wait to receive the - College degrees in products (Base Kits, - eBay household every month next thing they chose for math, science, or Add-ons) (less need to shop for this month engineering new toys) - info, videos, testimonials Retail provided on the website - Local toy stores (well informed purchase) Website: winning post Daughter (user): Parents, Mommy - Independent niche bloggers, Parent groups: every month gets featured - 5-9 years old store word-of mouth, Skills developed: recommend our toys - fine motor skills Retention: kid chooses on - spatial cognition the website the next add User base: need kids to on to receive Kid built the product share creations from the - fun, unique Product demos: after- kits online - self esteem, confidence school centers, Little - chance to be creative League, YMCA, Innovation One time purchase: Museum, Children’s $30 base model kit Product design costs Museum Distribution, S&H costs Materials, Manufacturing Subscription costs $20 for one add on per month
  • 56. Business Model Canvas (week 3) Incorporate formal Rely on Quick, convenient, learning topics into Colorwheels for informed purchasing Parents (paying product proven set of toys Online Marketplace decision customer): High level Create interactive of involvement with - Amazon material Keep daughters Can't wait for the child - eBay (instructional occupied with non next shipment to College degrees in videos, stories, etc.) princess toy create and decorate STEM Retail Limited free time - Local toy stores Parents/ Fun to assemble and from busy lifestyle - Independent niche Community host decorate Online sales store play dates, word of mouth Effective and Daughter (user):  intuitive instructions - 7 to 9 years old Girls: create, wear, advocate, and share Hands-on learning the product One time purchase: $30 base model kit Product design costs Distribution, S&H costs Subscription Materials, Manufacturing costs $20 for one add on per month
  • 57. Business Model Canvas (week 4) Incorporate learning topics Quick, convenient, Club Colorwheels Create interactive informed purchasing (online Parents (paying Referrers (parents material decision community) customer): High level and bloggers) of involvement with Marketing child (Exposure, Creativity and skills College degrees in product demos) development STEM Limited free time Kids: Build, post Fun to assemble and from busy lifestyle online, share decorate Online sales Gift giver Kit Packager Effective and Daughter (user):  Supply Chain intuitive instructions - 7 to 9 years old Educational non- profit institution Hands-on learning One time purchase: $30 base model kit Product design costs Distribution, S&H costs Subscription Materials, Manufacturing costs $20 for one add on per month
  • 58. same as last week new this week Business Model Canvas (week 5) ColorWheels Alice Brooks, Daniela Buchman, Bettina Chen, Miguel Reyes Incorporate learning topics Quick, convenient, Private online informed purchasing space or iPad app Parents (paying Create interactive decision customer): High level Referrers (parents material of involvement with and bloggers) Host after- Creativity and skills Level up system child school programs development College degrees in STEM Eco friendly Limited free time Kids: Build, post Fun to assemble and Online sales from busy lifestyle online, share decorate Schools Gift giver Educational Kit Packager Effective and Museum gift shops non-profit Supply Chain intuitive instructions Camps Daughter (user):  institution Homeschool networks 7 to 9 years old Hands-on learning After school programs Online flash sale sites Product design costs Distribution, S&H costs Subscription Materials, Manufacturing costs One time purchase: $20 for one add on per $30 base model kit month
  • 59. same as last week new this week Business Model Canvas Train young reps (week 6) Incorporate learning ColorWheels Alice Brooks, Daniela Buchman, Bettina Chen, Miguel Reyes topics Private online space Make video or iPad app demonstrations Quick, convenient, Parents (paying informed purchasing customer): High level of decision Merit based level up - involvement with child Host after-school and weekend programs, Girl Scout model College degrees in STEM Referrers (parents summer camps and Creativity and skills Limited free time from and bloggers) spring break camps development busy lifestyle Parent community Older kids - role Fun to assemble and models - young reps decorate Tiger moms Kids: Community with Kids: Build, post Free educational other kids, shared Online sales online, share content culture Parents: Way to link up Gift giver - aunts and Schools uncles, grandparents Kit Packager Hands-on learning Museum gift shops Educational non- profit institution Supply Chain Camps Educational extracurricular Homeschool Co-op activity After school programs Daughter (user):  Online flash sale sites 7 to 9 years old Product design costs One time purchase: Distribution, S&H costs $20 base model kit Subscription for additional Materials, Manufacturing costs content Event hosting (eg birthday parties) Camps, after school and weekend classes
  • 60. Business Model Canvas (week 7) ColorWheels Alice Brooks, Daniela Buchman, Bettina Chen, Miguel Reyes Train young reps Quick, convenient, Incorporate learning Merit based level up - informed purchasing topics Girl Scout model Referrers (parents decision Educated, STEM Parents Make video 5 and bloggers) Creativity and skills demonstrations Tiger moms development Parent community Gamification of learning Educational non- Fun to assemble and 7 Google adwords Gift giver - aunts and profit institution decorate uncles, grandparents Kids: Community with other kids, shared Daughter (user):  Free educational culture 6 to 10 years old content Parents: Way to link up Online sales 20 Kit Packager Hands-on learning Schools Supply Chain Museum gift shops Educational Homeschool Co-op extracurricular 169 169 7 8 After school programs activity Monthly subscription (1 month free trials) Product design costs Distribution, S&H costs Multi-level marketing Materials, Manufacturing costs 4 (Mary Kay model) 15
  • 61. Business Model Canvas (week 8) ColorWheels Alice Brooks, Daniela Buchman, Bettina Chen, Miguel Reyes Train young reps Quick, convenient, Incorporate learning Merit based level up - informed purchasing topics Girl Scout model Referrers (parents decision Educated, STEM Parents Make video 5 and bloggers) Creativity and skills demonstrations Tiger moms development Parent community Gamification of learning Educational non- Fun to assemble and 7 Google adwords Gift giver - aunts and profit institution decorate uncles, grandparents Kids: Community with other kids, shared Daughter (user):  Free educational culture 6 to 10 years old content Parents: Way to link up Online sales 20 Kit Packager Hands-on learning Schools Supply Chain Museum gift shops Educational Homeschool Co-op extracurricular 169 169 7 8 After school programs activity Product design costs Distribution, S&H costs Kit and subscription through Materials, Manufacturing costs 4 MLM 20
  • 62. C change from previous week S same as previous week BMC changes chart 2 3 4 5 6 7 8 KP C S C S C/S S S KA C C C/S C/S C/S C S KR C C C S C/S S S C$ S C S S S S S VP C C C/S C/S C/S S S CR C C C C/S C/S S S CH C C S C/S S S S CS S C C/S S S S S R$ C S S S C/S C C Totals 7C/2S 6C/3S 6C/6S 4C/9S 6C/9S 2C/7S 1C/8S
  • 63. BMC Weekly Changes Comparison
  • 65. Multi-Level Marketing in Action Stella and Dot Sell the Story: work from home, flexible “Stella & Dot is so much more than a fashion brand we're a company inspired by, and created for, strong, savvy women from all walks of life.” Chloe and Isabel Sellers age 19-27, sellers interact with customers in online community originally, founder worked for major jewelry companies. Tiffany’s etc.
  • 66. Summary of results Few responses from bloggers: 2 of the 3 responses requested money to advertise us Sweepstakes upped our “Likes” on Facebook to 837 from 50 Email marketing campaign to 150 people yielded 1 purchase out of 29 clicks
  • 67. Physics'C:'E&M' About  106,000  female  students  from  the  class  of  2011   scored  a  3  or  higher  on  a  STEM  AP  test.   By  parCcipaCng  as  a  colorwheels  ambassador,  high  school   girls  will  have  more  confidence  in  their  STEM  abiliCes. Long  term  goal:    start  programs  to  help  high  school  girls   Sta0s0cs' take  more  STEM  AP  classes  and  get  involved  in  more   STEM  acCviCes,  ex:  FIRST  RoboCcs,  Science  Fairs