1. Disrupting how employers reach mobile employees
Beekeeper
Disrupting how employers reach mobile employees
Shuyuan Chen
John Jenkins Jr.
Philip LaMaster
Kyle Packer
Eller School of Business

2. Agenda
Situation Problem Analysis Recommendation Implementation Financial Projections Risk Summary

3. Beekeeper Is At A Crucial Point
High Growth Startup
Multiple Customers and Industries
Transition from social networking to work messaging
Organization structure changes
Changing client disposition
Beekeeper sits at an inflection point
Situation
Problem
Analysis
Recommendation
Implementation
Finances
Risk
Summary

4. What’s the problem?
Beekeeper engineering resources are strained (Only 12% of staff are engineers)
Undefined customer base results in complex customer variations
Situation
Problem
Analysis
Recommendation
Implementation
Finances
Risk
Summary

5. What are our choices? Should we continue or sell-out?
Which industries should we sell in?
Should we customize or standardize core product?
Situation
Problem
Analysis
Recommendation
Implementation
Finances
Risk
Summary

6. The Three Industry Focus Is the Right Balance
Will this grow revenue sustainably?
Can we do this with our resources?
Hospitality Only
Standardize
Customize
Big Three Focus
Broad focus
Situation
Problem
Analysis
Recommendation
Implementation
Finances
Risk
Summary

7. Hospitality Pro Con Focus on opportunities only in hospitality
Smaller Target Market
Disrupted by AirBnB etc.
Exposed to cyclical forces
Solid product fit
Strong beachhead
Situation
Problem
Analysis
Recommendation
Implementation
Finances
Risk
Summary

8. The Big Three Focus Pro Con
Focus on opportunities only in manufacturing, retail and hospitality
Pro
Con
Solid product fit
Current customer base
Diversification
Requires customization
Organizational changes
Situation
Problem
Analysis
Recommendation
Implementation
Finances
Risk
Summary

9. Broad Focus
Create standardized product that can be applied across any industry
Pro
Con
Uncertain product fit
Difficult to land large clients
Competing against established firms
Diversification
Situation
Problem
Analysis
Recommendation
Implementation
Finances
Risk
Summary

10. What can we do about it? Define Differentiate Deploy
Beekeeper is a product for the Three Core Industries
Differentiate
Customize our product for each industry
Deploy
Organize salesforce and engineering around three industries
Situation
Problem
Analysis
Recommendation
Implementation
Finances
Risk
Summary

11. How can we do it? 2018 Q2 Q3 Q4 2019 Q1 Q2 2020 Q1 Leadership
-Communicate
-Restructure
-Recruit
Engineering
-Develop industry core product
-Customize for VIP customers
Sales & Marketing
- Develop sales leads
- Marketing push

12. Leadership Phase 1: Communicate Phase 2: Reorganize Phase 3: Sustain
Internal: Communicate key strategies and upcoming changes
External: Phase out legacy clients outside target industries over months
Begin expanding engineering teams
Phase 2: Reorganize
Phase 3: Sustain
Seek further Series B&C funding
Leadership
Manufacturing
Retail
Hospitality
Sales
Engineering
Corporate Functions
Situation
Problem
Analysis
Recommendation
Implementation
Finances
Risk
Summary

13. Engineering Phase 1: Develop industry-core products
Develop three customized industry templates that meet ~80% of industry needs
Phase 2: Develop VIP customizations
Phase 3: Sustain
Situation
Problem
Analysis
Recommendation
Implementation
Finances
Risk
Summary

14. Sales & Marketing Phase 1: Initial Customer Development
Expand initial VIP customers per target industry
Phase 2: Marketing
Marketing push to reach mature clients that aren’t early adopters
Phase 3: Sustaining
Continuous sales/marketing efforts
Situation
Problem
Analysis
Recommendation
Implementation
Finances
Risk
Summary

15. Risks & Mitigates Risk Impact Probability Mitigation
Lower than expected client adoption in core industries
Medium
Low
Early client input on product features
Proactive updates to correct customer difficulties
Lose Contracts in Core Industries
High
Proactive integrate with other industry systems
Engineering demands grow after restructuring
Manage and prioritize client expectations vs. staffing levels
Situation
Problem
Analysis
Recommendation
Implementation
Finances
Risk
Summary

16. Financial Investment Situation Problem Analysis Recommendation
Implementation
Finances
Risk
Summary

17. Sustaining our Growth
2019 Q1 We project Series B funding in two rounds of 15 and 10 million respectively.
Situation
Problem
Analysis
Recommendation
Implementation
Finances
Risk
Summary

18. Summary Define Communicate with internal teams and external clients
Differentiate
Deploy
Develop core industry products for retail, manufacturing and hospitality
Expand into target major companies within three target industries

19. Back-Up: Cost Assumptions
Head Count
Rate
Cost
Engineering
Core Product 20
120,000
2,400,000
Customize 10
100,000
1,000,000
Sales/Marketing
Sales 30
80,000
Marketing
65,000
650,000
Office Expansion
5,000,000
Security/Legal expenses
500,000

20. Back-Up: Project Costs
2018 Q2 Q3 Q4
2019 Q1 Q2
2020 Q1
Engineering Core Product
240,000
480,000 -
Engineering Customize
100,000
300,000
Sales/Marketing Sales
Sales/Marketing Marketing
65,000
130,000
Office Expansion
1,250,000
Security/Legal expenses
50,000
Total Cost
720,000
1,060,000
1,375,000
1,440,000
2,020,000
1,720,000
1,655,000
1,350,000