Sqaured online module 2 project
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MentorMatch.com aims to connect startups with mentors to reduce the 90% failure rate of new businesses, particularly in the UK tech industry. The platform offers a digital solution, flexible pricing, and high-quality mentorship while targeting various personas, including entrepreneurs and professionals seeking co-creation opportunities. With ambitious growth plans, MentorMatch intends to expand globally and diversify its services to enhance startup success rates.
Sqaured online module 2 project
- 1. Connecting startups and mentors
- 2. In 2015, 600,000 new startups launched! The Problem
- 3. In 2015, 600,000 new startups launched! The Problem Yet . . . 9 out of 10 startups fail in the first 5 years.
- 4. In 2015, 600,000 new startups launched! The Problem Mentor No Mentor Endeavor Research found... Success Yet . . . 9 out of 10 startups fail in the first 5 years.
- 5. In 2015, 600,000 new startups launched! The Problem Mentor No Mentor Endeavor Research found... Success Yet . . . 9 out of 10 startups fail in the first 5 years. Circa 27,000 mentors 5.4m startups
- 6. The Solution Say hello to mentormatch.com! “Mentormatch.com connects the ambitious with the knowledgeable, to make sure that nothing stands in your way””
- 7. Why Now? Growing number of new businesses Massive market to supply Lack of significant competition Commitment by UK Government to support the growth of mentorship in the UK
- 8. Target Customers/Personas ● Established entrepreneurs ● Business Professionals ● Professionals looking for co-creation or investment opportunities Mentee Mentor ● Early stage startups ● Tech community ● Operating in the UK
- 9. Competitors Indirect Competitors Competition Weaknesses/Gaps MentorsMe Limited uses. Just a directory. UK Business Mentoring Very traditional approach. No digital or online meetings with mentors. No information on the type or quality of mentors. Does not seem suitable for upcoming tech startups. Expensive (£1500 a day). Micromentor Unengaging platform. Quality of mentors does not appear high. Not a single mentor for the UK tech industry. Not a digital solution. No additional benefits for using the platform. Rockstar Closest rival, but no ability to connect with mentors online ina 121 chat and no additional tutorials or benefits through being a mentor. Nesta One project of the site. Offline solution. Direct Competitors 1.Universities 2.Training companies 3.Careers advisers 4.Government organizations
- 10. Competitive Advantage Digital Solution Accessible Flexibly Priced Knowledge Hub Quality Mentors Designed for Tech Startups
- 11. Revenue Streams £5 a month subscription Mentors choose their price and we take 10% commission Affiliate marketing revenue
- 12. Marketing Channels Search Mail Events Paid Owned Content Earned Blogs Website and app SocialAwards
- 13. Consideration Purchase AdvocacyAwareness Educational articles / trend reports targeting entrepreneurs Blog updates and articles by mentors targeting mentees eBooks: power of mentoring Case studies: CEO’s who had mentors eNews and sharing content on success of mentorship “Meet your mentor” - series of video’s / articles on mentors available Ratings / reviews by mentees who have used that mentor Endorsements : partnering wth universities and big brands Blog updates and articles by mentors Webinars with mentors Competition: best business idea gains free access to content and mentors Articles: why be a mentor? Shape ideas and invest How to videos: what to expect from MM Highlighting success stories: events, videos, articles Events with universities, businesses, government agencies to attract members, share stories and bring members together Merchandise and products to sell at events and online Awards and industry recognition Content is King
- 14. Key Partners/Strategic Partnerships Strategic Partners • UK Universities/ Colleges • UK Government mentoring programme • LinkedIn • Mentor accrediting body (ICF/ILM) • Media/publishing agency • Upwork Key Partners • Paypal • Web/mobile app developers • CMS platform • Salesforce • Evernote • Mailchimp • Ebsco
- 15. ● Payment service (Paypal) ● Affiliate Marketing Links/Software ● Funding/ Investor contributions ● Crowdsourcing Key resources for revenue streams Key Resources ● Company Set up Resources ● In house Team (Developers, Technical support, finance/business resource) ● Outsourced services (Branding , Designers, PR) ● Finance & Accounting System ● SEO expertise Resources to set up Value Proposition ● Customer Relationship Management tool (Sales force) ● Business Development resource Key resources for customer relationships ● Digital Marketing resource (social media, email marketing etc) ● Google Analytics Software ● Link Tracking Software (e.g Bitly) Key resources for distribution
- 16. 1. Total number of subscriptions to our service 2. Number of conversions to paid monthly memberships 3. % of mentors with mentoring accreditation by recognised body 4. Average user rating of mentors in our company 5. Average length of time customer use our services How we will measure success Measuring Success To be the primary paid mentoring digital platform in the UK, matching start ups and young companies with experienced business leaders, to increase the success rates of start ups in the UK Our Vision
- 17. Regional expansions MentorMatch will progressively extend to other countries until the business expands to a global scale. Global expansion Growing the Business Further Targeting other types of businesses MentorMatch has the potential to expand to other industries. Maybe even helping businesses to learn from startups in reverse mentoring style. Targeting other types of businesses MentorMatch subscription based information centre Expansion in resources and knowledge for the hub that serves as a constant source of insight and up to date relevant information for mentees. MentorMatch subscription based information centre 2 31
- 18. James Belbin Leila Mezoughi Kieran Sait Nicole Taylor Leung Ka Po Pavithra Prakash Trina Jeffers Zara Nowell Vicky Feros The Team