Start up case studies
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Start-Up Case Studies. How Five of Us Started Our Own Businesses. Who is Victor Lombardi?. Passion for learning and innovation. IT + Razorfish + IA Institute + MIG + Parsons + Pratt. What is Smart Experience?.

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Start up case studies

Start-Up Case Studies

How Five of Us Started Our Own Businesses


Who is victor lombardi

Who is Victor Lombardi?

Passion for learning

and innovation

IT

+ Razorfish

+ IA Institute

+ MIG

+ Parsons

+ Pratt


What is smart experience

What is Smart Experience?

Continuing education for/by professionals in the Internet, mobile, and software fields

Provide opportunities to the disadvantaged in NYC


Opportunity

Opportunity

Internet industry has growing influence

Training for professionals trails demand and sophistication of industry

Everything changes so damn quick


Problem administration

Problem: Administration

I thought when I was promoted from professor to provost I’d be able to improve things, but…

I’m suffering the same anti-education fate of every administrator.

- Acting provost at the Pratt Institute, NYC


Problem current ce offerings

Problem: Current CE Offerings

Universities

Strive for volume over state of the art

Do they even know the state-of-the-art?

Seminars/Workshops

State-of-the-art, but not offered regularly

Often not in NYC due to high operational costs


Problem poor teacher support

Problem: Poor Teacher Support

Good teachers are critical to education but continuing education lacks high standards

Administrators don’t know what makes a teacher qualified when it’s not the usual degrees

Little or no curriculum or syllabus development support

High risk of doing significant class development and losing the class

Little opportunity for teachers to create new classes

Low pay

No way to scale classes


Market size

Market Size

Approximately 100,000 NYC new media designers,

programmers,

marketers,

and managers


Traditional closed network

Traditional, Closed Network

Traditional schools rely on the wisdom of a small number of administrators to program the curriculum

Schools hire teachers

Teachers teach students

Students choose classes


Open network

Open Network

An open network creates a marketplace for education, more efficiently matching experts who want to teach with students who want to learn.

Experts suggest classes

Low-overhead facilitation of classes

Students request classes


Start up case studies

Solution: A New Kind of School


Competitors partners

Competitors/Partners

SizeCredibilityNew MediaName-BrandTopicPrice

Credibility Teachers Depth

NYU

New School, SVA…

Degree of service

Media Bistro

Smart Experience

Professional Seminars


Strategic options

Strategic Options

Expand

Beyond NYC

Organic

Growth

Consulting

License /

Franchise

Distance

Education

Sell

Publishing

Conventional

School


Accounting basics

Accounting Basics

Costs

Classroom rentals:$160/4 hours

Website:$6000

Class materials:$50/class

Media buys:$100/class

Legal:$2500

Revenue

Class break even:~5 students/class

Full class (30):$4,200

After costs are covered with initial students, profit grows quickly

May justify large marketing budget


Financial milestones

Financial Milestones

1 year

Sales

$0

Profits


To do list

Pricing model

Containing design costs

Buy ads?

Make teachers happy!

Create legal documents

Refine cash flow model

Open bank account

SEO

Recruit more teachers

Launch site

Monitor forums

Do Frog interview

Refine syllabus format

Collect syllabi

Contact potential partners

Contact bloggers

Refine curriculum

QA system

Class material printing

Create first newsletter

Set up newsletter list

Etc

Etc

Etc

To-Do List


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