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Sweat For A Cause

Web: www.sweatforacause.com
Class: 2013 Winter Accelerator

Company Description

Sweat For A Cause is a web startup that is taking the concept of fitness-driven fundraisers online

Updates

Goals

I realized that I never had the chance to post Sweat For A Cause's goals for the program, so here they are.

The thought process was to set aggressive, but achieveable goals. Given that we've been up and running for a while, our plan is to use the momentum to generate revenue and turn Sweat For A Cause from an interesting idea into a sustainable business venture. 
The process will start by segregating our target customers, reaching out to them to better understand their needs, evaluating pricing models based on the value Sweat For A Cause provides. This would lead to a Business Model.
Next would be to set targets for our business, so we can understand what investment we need and with that, create a reliable pitch deck for investors.
The third goal is about continuing what we've started - attracting new nonprofit and corporate customers, maintaining activity on our site and creating new partnerships.

It's going to be interesting to work on these goals over the next few weeks. The motto is to "Work Hard and Work Smart"! 

The goals are listed in detail below -

  • Build a realistic business model incorporating customer segmentation, value proposition, pricing models and fixed/variable cost estimates
    • Customer Segmentation/Value Proposition
      • Nonprofits
        • Interview 25 nonprofit development directors/fundraisers
        • Survey of 50 nonprofits across all sectors
      • Athletes
        • Interview current users/athletes
        • Survey of 100 individuals
      • Donors
        • Understand donor motivation through website features
      • Corporations
        • Evaluate relationship between Health Insurance companies and corporations
    • Pricing Models
      • Transaction fee % per donation
      • Tiered pricing for nonprofits
      • Per employee pricing for corporations
      • Flat pricing per corporation
    • Fixed/Variable Cost Estimates
      • Employee Salary
      • Marketing
      • Sales
      • Software tools, web hosting
      • Legal costs
  • Develop a compelling investor pitch incorporating the business model assumptions
    • Figure out investment needed
    • Equity offering in return for investment
    • Pitch Deck/Slideshow
  • Establish partnerships, pilot customers, and/or other relationships that will test and/or validate the business model
    • 10 more nonprofit partners
    • Increased donations through enhanced site features
      • Sponsor an athlete (fundraising goal per athlete)
      • Team challenges
    • 2 corporate challenges/events/fundraisers
    • TR Miller/OFH partnership for rewards