Points of Emphasis-Advisory Meeting

Here's what we've done since the last meeting:

1) Resources per customer - A lot of depth must go into calculating how many resources it will take to grab a single customer. Since we have narrowed the market down to a particular lifestyle, this will be much harder to achieve. As opposed to asking random people to sign up to our website, that would be regular coupon users, we now have to find random people that fit our target customer. An estimate of 30 minutes will be taken to achieve a single customer now as opposed to 10 minutes.

2)Key Partners - Last week we established key partners for the venture which included coupon sites, retailers, wholesalers, and ethical communities. We believe that these partners will be a key factor to the success of mido. More info about this topic labeled under key partners.

3)Key Resources - Key resources were also established as the filtering system, the team, ethical communities, data base, and the future intellectual property. It's because of these resources that make mido different from other deal finding sites. See key resources for more info.

4) Demand Creation - The demand creation was draw up to define our plan regarding activation, acquisition, retention, referral, revenue. The hardest category for us plan was revenue. We are still unsure of how to attack the revenue and how to bring in cash for mido, but this may come more clear as we validate our business model to the market.

Here's what we plan to do before next meeting:

1) We each need to create an individual pitch that defines mido. The goal is to explain the concept as clearly as possible to a target audience. All pitches (videos to be posted on the blog) will have each group member define their perception of mido, and how they think the business model will survive.

2) We would like to have completed our team pitch for the final presentation and show you guys (our advisory board). This will be a constructive session for advice on the pitch; what we should add, say, do, or not do.

3) A project plan needs to be created for six months after this course ends. This will include our cash flow projection, customer acquisitions, key partnerships, and many other steps we need to take for initializing mido.

Questions for Advisors:

1)Is our assumption correct in tripling our efforts to achieve a customer or is it higher?

-What are your suggestions for marketing and customer acquisition?

2) What are your thoughts on the key partners and how do we best take advantage of those relationships?

3) What are some ways that we can retain the customers? A very high percentage of customers that use the coupons, don't go back to those products or services without a discount. How do we turn those numbers around?

4) Lastly, what are your overall thoughts about the direction we are heading? Do you think we've pivoted in the right direction for starting up mido?

Stay tuned and check out our videos coming November 13.

Thanks to our advisors in advance for the comments.