BAG TECHNIQUE Bag technique-a tool making use of public health bag through wh...
Grapefruit NYU 2015
1. Grapefruit
Service: offer premium Mindfulness-Based Stress
Reduction (MBSR) course and continuing support
on-line or in-person to reduce catastrophic thinking,
worries, and anxiety.
Team: Tracy Chang and Madhu Krishnan
Interview this week: 14+7+8 + 3 + 7=40
Interview to date: 48
2. Community
- Learning is best achieved
by building a community of
practitioners
Dedicated Personal
service
- personal coaching
Awareness
B2C
- Website, Paid search
- Linkedin advertisements
- B-schools
- Employers
B2B
- Managers
- HR managers manager
Delivery: - Own stores
Problem solving
- Studio operation
- Program coordination
- Program Delivery
- Program development
Intellectual:
-MBLD
-MBF
Human:
- MBSR teachers
- Purpose-driven employees
Physical:
- 1,500 sq ft studio
Financial:
- Operating cash
- Loan guarantee
Segmented
B2C
- MBSR grads
- Working profs
- Pursuing MBA
- Managers
- Entrepreneurs
- Ailments
- Major life event
- Age: 25 to 50
- Income: >$100K
- Urbanities
B2B
- Start-ups
- Mid to large
companies
Channel
Customer segmentCustomer relationsValue propositionActivitiesPartners
Resources
Cost Structure Revenue Stream
Risk Reduction
B2C
- Dance with life
- Feel well
- Lead well
B2B
- Lead well
Brand/Status
- MBSR
- Premium service
Design
-Asthetic experience
Acquisition of
resources
(customers, teachers)
- mindful.org
- wisdom 2.0
- mindfulness
consultants
- meditation/retreat
centers
- B schools
- Accelerators
- Incubators
- Yoga studio
- Gyms
- Hotels
- Spa
- Headspace
- Insight timers
Usage fee:
- 8-week MBSR/MBLD
- 5-day MBLD Intensive
- Retreats
Fixed cost:
- Staff salaries
- Marketing cost
- Professional services: legal,
accounting
- Insurance
- Utilites
Subscription fees:
- Mental gym: Ongoing
practice after
foundational courses
- Mindfulness trucks
Licensing:
- MBLD
- MBF
Variable cost:
Rent
Teacher salary
Advertising (acquire, keep, grow)
Day 1
3. Equinox/NYU Sports club members on
Wall Street
Classmates (Stern, LLP)
What we learned
1. When we asked people “how they dealt with stress” – responses we got were - Active workout, Running, Yoga, TV,
Alcohol, hanging out with friends.
2. “Stress” did not trigger Meditation/Mindfulness
3. People discussed ”meditation” “Yoga” “Pilates” when there was a health trigger - BP or back pain
4. DIY leads to minimal felt benefits and stop
Customer Segments and Value Proposition
Day 2
4. Community
- Learning is best achieved
by building a community of
practitioners
Dedicated Personal
service
- personal coaching
Awareness
- Website, Paid search
- Linkedin advertisements
- B-schools
- Employers, HR manager
- Physicians
- Physical Therapists
B2B - Managers
- HR managers
Delivery: - Own storesRent
Problem solving
- Studio operation
- Program coordination
- Program Delivery
- Program development
Intellectual:
-MBLD
-MBF
Human:
- MBSR teachers
- Purpose-driven employees
Physical:
- 1,500 sq ft studio
Financial:
- Operating cash
- Loan guarantee
Segmented
B2C
- MBSR grads
- Professionals
- Pursuing MBA
- Managers
- Entrepreneurs
- Ailments (BP)
- Major life event
- Age: 25 to 50
- Income: >$100K
- Urbanities
B2B
- Start-ups
- HR manager mid
to large companies
Channel
Customer segmentCustomer relationsValue propositionActivitiesPartners
Resources
Cost Structure Revenue Stream
Risk Reduction
B2C
- Dance with life
- - Feel well
- Reduce stress
- Reduce back pain/
blood pressure
- Silent life saver
- Lead well (certificate?)
B2B
- Lead well
- Healthcare saving*
- Productivity*
Brand/Status
- MBSR
- Premium service
Design
-Asthetic experience
Acquisition of
resources
(customers, teachers)
- mindful.org
- wisdom 2.0
- mindfulness
consultants
- meditation/retreat
centers
- B schools
- Accelerators
- Incubators
- Yoga studio
- Gyms
- Hotels
- Spa
- Headspace
- Insight timers
Usage fee:
- 8-week MBSR
- 8-week MBLD
- 5-day MBLD Intensive
- Retreats
Fixed cost:
- Staff salaries (reduced)
- Marketing cost
- Professional services: legal,
accounting
- Insurance
- Utilites
Subscription fees:
- Mental gym: Ongoing
practice after
foundational courses
- Mindfulness trucks
Licensing:
- MBLD
- MBF
Variable cost:
Rent Long Term Hourly Rent
Teacher salary
Advertising (acquire, keep, grow)
Day 2
5. Who are our customers?
-Stressed financial
VP/consultant
- High Blood Pressure
- Want “natural” way
-
Can’t sleep
-Caregivers-Healthcare
Professionals
-Divorce
-Migraine
-Male, 25-50, >$100K
-healthy architect
-wants to improve
concentration
- Back pain
Demographics - Age 25-50, Income >$100, Urbanites
-Anxious
Day 3
6. Community
- Learning is best achieved
by building a community of
practitioners
Dedicated Personal
service
- personal coaching
- Website, Paid search
HR manager
- Physicians
- Physical Therapists
- Court record
- Hospital social worker
- Linkedin ads
- - B-schools
B2B - HR managers
Problem solving
- Studio operation
- Program coordination
- Program Delivery
- Program development
Intellectual:
-MBLD
-MBF
Human:
- MBSR teachers
- Purpose-driven employees
Physical:
- 1,500 sq ft studio
Financial:
- Operating cash
- Loan guarantee
Segmented
B2C
-Ailments (BP,
Insomnia,
migraine, pain,
anxious)
-Life changing
event (divorce,
caregiver)
-Stressful
professions
-Super mental
function (focus)
- Age: 25 to 50
- Income: >$100K
- Urbanities
B2B
- HR manager mid
to large companies
Channel
Customer segmentCustomer relationsValue propositionActivitiesPartners
Resources
Cost Structure Revenue Stream
B2C
- Reduce pain/ blood
pressure/migraine/anxi
ety
- Better
coping/resilience
- Reduce stress
- Increase focus
B2B
- Healthcare saving
- Productivity
Brand/Status
- MBSR
- Premium service
Acquisition of
resources
(customers, teachers)
- mindful.org
- wisdom 2.0
- mindfulness
consultants
- meditation/retreat
centers
- B schools
- Accelerators
- Incubators
- Yoga studio
- Gyms
- Hotels
- Spa
- Headspace
- Insight timers
Usage fee:
- 8-week MBSR
- Retreats
Fixed cost:
- Staff salaries (reduced)
- Marketing cost
- Professional services: legal,
accounting
- Insurance
- Utilites
Subscription fees:
- Mental gym: Ongoing
practice after
foundational courses
- Mindfulness trucks
Variable cost:
Rent Long Term Hourly Rent
Teacher salary
Advertising (acquire, keep, grow)
Day 3
7. Get Strategy
Grapefruit
Health Websites
(WebMD, Women’s
Health, Alternative
Medicine)
Internists, Therapists,
Psychologists, Psychiatrists
Web Search
(Ad Word)
Social Media
community
Employer EAP Insurance Meditation Centers
Public Relations
(Press and Media
Coverage)
Corporate
Health/Wellness
Provider
Awareness; Evaluation
Day 4
8. Get:
-HCP
-Health info website
-Employer EAP
-Insurance
-Corporate wellness
providers
-Web search
-Social media
-Universities
E-commerce - Web direct
Problem solving
- Studio operation
- Program coordination
- Program Delivery
- Program development
Intellectual:
-
Human:
- MBSR teachers
- Employees
Physical:
- Administrative office
Financial:
- Operating cash
-Who has BP,
Insomnia,
migraine, pain,
anxiety
-Who has Life
changing event
(divorce,
caregiver)
-Stressful
professions
-Superior mental
function (focus)
- Age: 20 to 50
- Income: >$80
- Urbanities
B2B
- HR managers
- Directors of
University
students health
service
-
-
Channel
Customer segmentCustomer relationsValue propositionActivitiesPartners
Resources
Cost Structure Revenue Stream
B2C
-Reduce anxiety and
panic and manage
responses to stressful
event when all other
interventions fail
B2B
- Healthcare saving
- Productivity
Brand/Status
- MBSR
- Premium service
Acquisition of
resources
(customers, teachers)
- mindful.org
- wisdom 2.0
- mindfulness
consultants
- meditation/retreat
centers
- B schools
- Yoga studio
- Gyms
- Hotels
- Spa
- Headspace
- Insight timers
- $800 per person per course with 1st year unlimited on-line
support
- $500/annual membership for unlimited on-line support
- $100/day long retreat – weekly
Fixed cost:
- Staff salaries
- Marketing cost
- Professional services: legal,
accounting
- Insurance
-
Variable cost:
Hourly Rent
Teacher salary
Advertising (acquire, keep, grow)
Day 4
9. Path forward: Customer segment/Value proposition
Day 5
Insurance – Coverage, Reimbursement, can insurance be a payer?
Customers – recommendations, preferences, and results
Talk to MDs/NPs - how they make decision on treatment options
Talk to MDs/Reimbursement specialists and Insurance providers and learn of CPT
codes that this could be billed to
Sub-segments of anxiety
Those at the end of the rope
Intervention earlier those are actively seeking alternate options
Spiritual?
11. $62B
$2.2B
Total Available market
(123MM full-time employees in the US)
Served Available
market
49MM
Anyone with BP/Insomnia/lower
back pain (40%) and Income
>$100K, 9%
$29MMTarget Market
(590K - Manhattan)
Market size
Day 2
12. Channels
CustomerGrapefruit Direct Sale through Web
Grapefruit
Mindfulness
Course
Education (Awareness)
Q&As (Purchase evaluation
criteria)
Purchase product
After-sales (community)
Direct and instant
communication
Cost:
E-commerce administrative
costs
Web design and maintenance
24/7 chat, phone
Credit card
Staff Website management
Awareness; Evaluation;
Purchase; After-sales
Day 4