Feedback about Eleven’s Demo Day – Meister Plus

This is part 4 of 11 with my feedback about the start-ups from Eleven Accelerator.

For more information about the blog series and one very important disclaimer, you can read part 1.

The start-up today is MeisterPlus. Just like Eventyard, i’ve known the team for a long time (They also started from 3Challenge). I am excited to write about them, because their case is really specific:
Local business with proven business model and a lot of things that can actually go wrong!

Meister Plus

About the pitch

So, my general feeling about Bozho’s pitch is – boring.
I guess all of the guys were tired from working with mentors, working on their product and actually preparing for the DemoDay, but i’ve seen far better MeisterPlus pitches. (For example, the 3Challenge pitch, which is in Bulgarian)

Since this is a proven business model, maybe it’s a better idea to spend less time explaining the problem and more time, giving details that VCs are going to be interested in (The purpose of DemoDay is to find follow-up investment).
If i put myself in the money-giving shoes, here are the things that i missed to hear from the pitch:

More data about the platform!

Market Size

Market Size

Market share is great. You have done the research and the numbers are promising. Yet, the data about the platform is a bit scarse (600 builders registered, Important partnerships)
Here are few questions, that might be helpful:

  • 600 registered handymen. How many home-owners are registered ? How many job offers in total since launch ?
  • How many jobs were completed from the registered handy-men? What part of the completed jobs were rated by the home-owners?
  • What is the average response time for a handy-men when a job is posted ? Are you looking for quick response or longer but more-detailed one ?
  • How many stories like Maria do you have since launch ?
  • What is the most important metric for your success ?

Who are your competitors ?
Bozho mentioned that something gives them an advantage against their competitors, but who are they ?
For a local business like that, there should be some competitors (And you can find them just by googling around).
It’s worth mentioning that despite the competitors, there are no key players on the Bulgarian market yet.

Show me the team!
It’s a good idea to post some pictures and information about the team and why you can execute the idea and become rich. You guys are awesome and this is a big advantage, so use it!

And finally – a little more enthusiasm in the pitch. Bozho, you can do better.

About the product and monetization

Again, the idea is great, because it’s proven business model (Already working in the UK and Germany) and the Bulgarian market is not yet saturated (All of the competitors are small).

About the monetization – i see one problem with the monthly subscription – no craftsmen will want to pay unless they first find a job, which will cover their expenses, so you have to give the handymen a trial period – lets say a month.
How are you going to handle the multiple accounts problem ? (I am pretty sure that in Bulgaria, most of the handymen will try to do this. Moral is not in their toolbox.)
One handyman, creating different accounts under different names each month for a trial and finding customers.

About the product – here are the things, that in my opinion, can go wrong and take you out of business:

  • If you fail to deliver a working & easy to use web interface, customers will be confused (Confuse them, lose them), BANG!. The solution here is tons of A/B split testing and measurements.
  • If you fail to bring the best handymen to the platform, you will fail to convince the home-owners to use it. They will search them elsewhere. No chicken, no egg, BANG!
  • If you fail to keep the quality up (Which means – rating system fail) you will have a big issue with trust. If everyone is a 100% Meister, why rate them at all ?
  • If you fail to create a strong brand, other competitors who can, will take your customers and handymen sooner or later. (So far, you are doing a great job with the brand!)

Suggestions

I will split my suggestions in two – about the web platform and about the brand in general, starting with the brand:

One of the question i am always asking myself, when thinking about MeisterPlus is – What is the key metric here? What are those guys religious about ?
I think, if you find what’s really important, measure it and try to be the best there – you are done.
Just like Tony Hsiesh (From Zappos) says – Zappos’s business is not about selling shoes online but about the great customer service they provide. If something goes wrong, they will handle it and customers will be happy. If nothing goes wrong, customers will be really happy.
And for example here, lets take trust:

  • If homeowners trust you, that you do everything, to keep the handymen quality up, they will post jobs in the platform.
  • On the other hand, if handymen trust you, that you do everything, to keep the job offers coming and as long as they do a good job, their revenue is secured – they will apply for jobs.

And the scenario
I post a job but there is no handyman for it. If you go the extra mile for me, to search for a suitable handyman outside the platform, find him and bring him in – i will love you forever!
Finding a key metric and being religious about it will make you stronger than the competition (And money will flow).
As a recommendation here, you can check the book Delivering Happines – The Zappos Story.

The other thing about your brand – be more than a marketplace for handymen.
A blog (you have one and better start writing there 🙂) is the best example.
Blog about your stuff (how-to articles, success stories, etc.) and try to convert people into posting jobs (or handymen taking jobs) in the platform. (You can follow Grabo’s example.)

About the web platform – Meister Plus’s programmers and designers have done a wonderful job. Also, the platform is full of information, which is good for the users.

Here are the things that confused or annoyed me while using the platform:
Why do you display only the latest 5 jobs ? This creates the illusion that there are only 5 jobs. Adding a scroll may be a good idea 😉

Click to Enlarge

Click to Enlarge

I posted a job and clicked on the “invite meister” button (screen 1), which led me to screen 2, but the filters were with default values. I expected them to be as selected when i created the job.
If you have to select the categories each time, it will become a bit annoying.

Screen 1

Screen 1

 

Screen 2

Screen 2

And finally, if i am about to search, having only two filters (By town and By Category) gives me far too many results, and to check each, i have to open a new tab.
A short preview of the handyman or the company + additional filters will go a long way 🙂

Click to Enlarge

Click to Enlarge

A quick summary

Be more than a marketplace for craftsmen and be religious about the things (metrics) you think are important!

Your vote and feedback is important!

Again, the pick for the next article is open for vote.
My personal favorite for the next one is Ulympix but if the readers decide otherwise, i will follow.
Any feedback about this article will be highly appreciated.

Marry Christmas!

Read more

You can find other posts from the series:

  • Hint Or Two
  • Farmhopping
  • Eventyard
  • Ulympix
  • La Koketa [Coming soon]
  • KeenSkim [Coming soon]
  • Sensika [Coming soon]
  • Filement [Coming soon]
  • Soccer Scout [Coming soon]
  • Playground Energy [Coming soon]
Write us your thoughts about this post. Be kind & Play nice.
  1. Marti says:

    Many thanks, Rado!

    It is always a pleasure to hear constructive critics and creative ideas!
    We have a lot of challenges and you have identified them very precisely!

    My promise: Think about a little bit and send you back our strategy both for product and branding 😉

    Cheers!

    Reply

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