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Start-Up Case Studies

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

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  1. Start-Up Case Studies How Five of Us Started Our Own Businesses

  2. Who is Victor Lombardi? Passion for learning and innovation IT + Razorfish + IA Institute + MIG + Parsons + Pratt

  3. What is Smart Experience? Continuing education for/by professionals in the Internet, mobile, and software fields Provide opportunities to the disadvantaged in NYC

  4. Opportunity Internet industry has growing influence Training for professionals trails demand and sophistication of industry Everything changes so damn quick

  5. 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

  6. 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

  7. 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

  8. Market Size Approximately 100,000 NYC new media designers, programmers, marketers, and managers

  9. 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

  10. 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

  11. Solution: A New Kind of School

  12. Competitors/Partners Size Credibility New Media Name-Brand Topic Price Credibility Teachers Depth NYU New School, SVA… Degree of service Media Bistro Smart Experience Professional Seminars

  13. Strategic Options Expand Beyond NYC Organic Growth Consulting License / Franchise Distance Education Sell Publishing Conventional School

  14. 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

  15. Financial Milestones 1 year Sales $0 Profits

  16. 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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