freelancr Freelancr Investor Memo & MVP October 2017

Transcription

1 freelancr Freelancr Investor Memo & MVP October 2017

2 Executive Summary The following document outlines the opportunity for investment in the early development phase of an online professional networking platform that has already attracted attention from backers and audiences around the world in only a matter of months. The freelancr Kickstarter campaign recently closed, finishing with 22 unique investors and beating the original investment goal by 350%. The freelancr landing site has already attracted hundreds of views, including repeat visitors seeking progress updates. By compiling and optimizing the proven successful aspects of popular social networks as combined with freelancing websites, the project is well on its way to revolutionizing how creative professionals work and play online. Freelancr is a brand new professional networking platform created to connect freelance workers to each other and to employment opportunities. Unlike other social networking and job search websites, Freelancr is a one-stop shop designed with highly creative people in mind. It makes completing contract work online easier, more social and more personalized than ever. The current picture of creative work features a shift towards the gig economy, where traditional 9-to-5 careers at a single employer are being foregone in the pursuit of professional freedom and flexibility. Future predictions point to further growth of the gig economy, and an emphasis on creativity as a safeguard against job loss due to automation. The freelancr vision is to be the ultimate toolbox solving the problems freelance workers face and easing the growing pains felt by both employees and employers in the changing landscape of work. Freelancr brings value to three distinctly different customer bases freelancers, employers and advertisers. Freelancers can showcase work, make connections, be inspired, build skills and find work, while employers can seek contractors with unique skills and styles to fit any job, large or small. Advertisers can reach a highly specified and targeted audience of creative professionals, stretching ad dollars further and capturing stronger sales leads. Although freelancr is still in it s youth, by going to market with the launch of a beta version of the network and testing with a small group of backers, freelancr will be able react and adapt according to real-time feedback. Success will depend on fostering strategic partnerships with unions and agencies and making the brand known through industry events and sponsorships during the initial growth phase. While freelancr may currently appeal to a niche market, growth in both freelancing and creative work taking place online has created an opportunity that freelancr will work to seize. Social networks are highly scalable, and freelancr is no different more site users inherently create more value and freelancr is built for expansion. Areas for future growth include expansion into mobile, and the development of higher-end PRO memberships. In order to realise our short- and long-term goals, freelancr requires dedicated investors. The investment funds will be primarily funneled into the development of the web platform, and the acquisition of members through targeted online advertising. For further details and to discuss investment opportunities please do not hesitate to contact me. Sincerely, Carly Rough Freelancer founder and CEO crou3@student.monash.edu

3 What is Freelancr? Freelancr is an online community for freelance professionals in the creative industries to showcase work, expand networks, and facilitate employment opportunities. The vision borrows concepts and functions from existing social and professional networking sites as combined with online freelancing platforms. It is the beginning of a new platform tailored specifically to the niche needs and wants of creative people working in the digital age.

4 Meet the Creator Carly Rough is a Canadian postgraduate Communications student, marketing professional and optimistic future freelancer living in Melbourne, Australia. The Freelancr concept was inspired by her experiences trying to secure contract work and make connections within the creative industries while living part-time in both Canada and Australia. Her hope is that the employees and employers of her generation and generations of the future can harness technology to push the boundaries of time and space and better the creative world.

5 The gig economy is on the rise. There is a growing number of workers that have abandoned the tradition of commuting in to cities for 9 to 5 jobs in offices either by choice or by necessity. Some value the freedom and flexibility that freelancing affords, while others need freelance work as supplementary income to survive in the current economic landscape. Why do we need Freelancr? Rapid technological advancements have paved the way for people to be able to work at any time, from anywhere. Although the gig economy has manifested itself across many sectors, the creative industries have experienced a shift from large agency structures to smaller teams that involve independent creative professionals performing specific tasks within specific contracts. Intuit forecasts that the numbers of Americans working on-demand jobs on digital platforms will rise to 9.2 million in Freelancing in the creative industries can be both profitable and creatively stimulating, provided freelancers have the right tools and support to get the job done.

6 Carly Rough, Freelancr creator and CEO Freelancr is the ultimate online toolbox for freelance creatives. It aims to organize, inspire, and encourage community in the gig economy.

7 Problem Freelancers are facing new challenges that traditional employees didn t typically need to worry about. Companies and independents looking to hire freelancers don t know what s out there. Difficulty finding opportunities to meet and engage with people outside their existing networks, which can be both lonely and creatively stifling Working from a home office can contribute to loneliness and increased inability to unplug from work Securing ongoing work in a precarious working environment can be stressful and uncertainty over income can cause anxiety Getting paid on time can cause financial stress and strained relationships between employers and contractors Employers often only hire within their existing networks, leaving little room for innovation or entry into the industry Websites for hiring contract workers are out there, but filtering through millions of potential hires to find highly specified skills may be difficult and time consuming Hiring outside those already on the payroll can lead to unnecessary scheduling issues and mountains of paperwork

8 Solution Freelancr solves the common problems that plague both contractors and employers in the creative industries Freelancr is a place to connect socially and professionally, creating opportunities for both work and leisure in a social environment It provides an area for creative professionals of all ages and skill levels to make connections, bringing the industries closer and lowering the traditionally large barriers of entry Access to every user s freelancr portfolio allows for creative inspiration and can contribute to new learning and personal growth Users can enable and disable certain features to create an experience that is as unique as their work Using the combination of the calendar function and secure, preestablished methods of online funds transfer, deadlines are set and receiving or sending payment is quick and easy

9 Timeline Freelancr is still a young company Its conceptual youth allows for constant action and reaction as products of market changes and consumer reactions. The project has already reached some key milestones as a startup, but there is still a long way to go to realize the freelancr dream. go to market (Jan 2018) It is currently in the research and development phase and is looking to go to market in early idea conception initial research and development Intensive pre-existing market research project undertaken Successful kickstarter campaign with 22 backers raising nearly $400 Freelancr feedback survey completed with over 20 responses Freelancr progress blog including weekly posts with return readers Freelancr.info landing page live and collecting metrics on site visitors

10 Traction Freelancr has gained momentum in the research and development phase through a number of different avenues, even prior to platform launch Successful kickstarter campaign with 22 unique backers pledging $324 (nearly 7 times the initial goal) 255 views of the freelancr.info landing site in the first two weeks since going live 153 unique visitors total, indicating that visitors are returning for updates Site visitors from all areas of the world including Australia, Canada, Spain, Denmark, USA, Phillipines, China and the UK

11 Market Realities The gig economy is large and getting larger every day. The emergence of digital platforms like freelancr have contributed to this growth. In Australia, web, mobile and software development (44 per cent), followed by design and creative (14 per cent), customer and admin support (13 per cent), sales and marketing (10 per cent) and writing (8 per cent). It is estimated that by 2020, almost 50% of the U.S. workforce will be freelancers in some capacity Studies note a generational shift towards ambitions entrepreneurship and work flexibility Research shows that creative jobs will be more resistant to automation in the near and distant futures The projected growth rate for creative work implies that there will be approximately one million new creative jobs by 2030 in the UK alone Check out these industry reports to learn more The Emergence of the Gig Economy Creative Economy & the Future of Employment

12 The idea for freelancr did not come out of thin air. There are a lot of useful web apps already out there connecting people to working opportunities. Competitors Fortunately for freelancr, acting as a fast follower in a growing market means that there is a wealth of information already available on what potential users want in a professional network. the world's largest online freelance services marketplace for lean entrepreneurs a social networking site designed specifically for the business community online outsourcing platform that puts employers and businesses in contact with a global network of freelancers By identifying and learning from our competition, we can be be more aware of the needs and wants of our customer base, and make adaptations to the product and it s delivery in real time. Because freelancr provides a space for learning, networking, and socializing, our product is subjected to competition from a wide array of avenues including social media platforms, freelancing networks, messaging services, job search sites and more. While there are some smaller online communities set up for creative professionals, fiverr, linkedin and freelancer.com take up the most market share and are thus the biggest existing threats to freelancr s uptake. Approximately 3 million current contracts Digital marketing section Blog section Free and paid membership available Payment processed on site using Paypal Web portal and mobile app No social networking features Criticized for promoting cheap labour (rates can begin at $5 a contract) Criticized for promoting overworking Lacks customizable profile features No upskilling/learning opportunities present Consistently ranked in top 20 social networking sites globally Over 500 million users Free and paid memberships available Web portal and mobile app Millions of job postings across a wide array of sectors Social networking opportunities (connect, message, invite) Not set up to facilitate gig work Criticized for spamming users via messages (and subsequently lost a lawsuit in 2015) Criticized for spamming ads to users personal inboxes Approximately 25 million users Web portal and mobile app Free and paid memberships available Wide array of gigs available Users bid for contracts in a reverse auction Criticized for poor payment system and hidden fees including international exchange fees No social networking features Lacks customizable profile features No upskilling/learning opportunities present No blog section

13 The Old Way Difficult Time Consuming Expensive Before freelancr, contract workers in the gig economy had to go to a whole array of different resources (both online and offline) to keep organized and updated, network, and find work. This often involved the use of multiple online apps and offline software. With no IT department or budget for upgrades at their disposal, freelancers are often left to bear the responsibility of both paying for and learning new technologies all on their own. Unlike traditional employment, freelancers have to spend their own free time learning how to use platforms that are constantly being changed and updated, often with little guidance.

14 A holistic approach.. Our competitors only offer a few of these services, and don t account for the unique needs and wants of highly creative professionals The freelancr difference Find new employment opportunities Communicate about ongoing work through messaging and video chat View, share, maintain and sync your calendars Get paid on time using our easy and secure funds transfer site Tailored to our industry.. Unlike other web applications that connect contract workers with employers, freelancr is a one-stop shop, created specifically with creative professionals in mind Be inspired! Create your own mood boards by saving others users work Check out the free tips and hints for various software, time management and more Stay up to date on the industry goings on by reading the freelancr blog Add friends and colleagues to your personalized lists Check out the message boards to learn about industry events and networking activities Share your accomplishments with peers Write for the freelancr blog and get exposure With you in mind. Freelancr is highly customizable. Everything from your personal portfolio to the layout of your calendar can be edited to suit your tastes and creativity

15 Key Marketing Strategy Beta Testing Array of available professional networks means that customer attraction and retention depends on developing the best possible product People never want to be the first user in a network it s lonely! Having a group of testers means that the site will be populated and rich in content by public launch Strategic Partnerships Selecting the right partners will allow for continued growth after launch By partnering with existing software companies, freelancr can give added value to users by means of tutorials and discounts Partnering with unions and agencies within the creative industries will attract users already active in the industries SEO & Programmatic Capturing the right customer base for freelancr depends on the platform being amongst the top entries when key terms are searched Programmic ad buys will allow for better targeting of specific groups of creative professionals while constrained by a tighter startup budget Targeted Branding & Advertising Having lots of users is good, but having active and engaged followers will bring value to the platform Ad campaigns that are placed in specific areas online and offline where creative professionals frequent to build brand recognition Events & Sponsorships Sponsoring social and professional events like awards shows and company lunches within the creative industries in major cities will familiarize potential users with the brand Brand trust fostered through positive reallife experiences with brand representatives attending and presenting at trades and award shows

16 Customer Segments Users Advertisers Contractors Freelancr users who typically use the site as a place to showcase their work, seek out employment opportunities, and network with peers and likeminded professionals. Employers Freelancr users who primarily use the site to find contractors to complete projects, explore new trends in the industry and maintain professional relationships. Sample Advertising Opportunity Communication Freelancr is a niche social networking website that captures the eyes of highly specific groups of people active in the creative industries. The value of freelancr to advertisers is the ability to directly target and capture this audience, bringing products and services that they are most likely to need or want. For companies selling everything from software to craft beers, they can be confident that advertising on the freelancr site means their ad dollars are not going to waste on the wrong eyes.

17 Growth Strategy Freelancr foresees a two-sided strategy for future sustained growth Vertical Growth Attract larger, higher end contracts Horizontal Growth Users attract more users Successful online networks typically begin with a few users and snowball over time. As more users flock to freelancr, the network gains more value and in turn this value draws customers. Chris Anderson s Long Tail Theory explains that due to costs of production and distribution falling, the current economy is shifting away from blockbuster hits to smaller, niche products. This new market of niches is referred to as the Long Tail. The horizontal long tail represents a wealth of modern, web connected consumers that are looking for specified products such as freelancr. As trust in the platform is built within the customer base, freelancr will aim to be the hosting site for major transactions including awarding ongoing projects and helping to facilitate high-profile, award-winning campaigns. An ongoing goal will be to emphasize the benefits of the PRO membership, setting the scene for a tiered structure of basic PRO to luxury PRO paid memberships in the future. Freelancr seeks to eventually be at the forefront of the creative industries, helping to stimulate both creativity and the economy.

18 Technology/Required Assets Freelancr is an online network that by design requires high-quality technological assets. The freelancr.info site is currently powered by Wordpress, but will need to be built into a fully functioning social network prior to beta launch in Social Web Platform Building a platform with as many functions and customization options as freelancr is not as simple as buying and hosting a domain. For freelancr to bring value to it s investors and customers, the following assets will need to be integrated: Social functions ability to maintain contact lists, post to public message boards Search functions ability to search for users and projects Private messaging systems Secure payment functions User-customizable HTML in profiles Integrated live updates to calendars Advertising space

19 Site Prototypes A first look at what freelancr beta testers may see on some of the pages on the live site freelancr.info in early 2018

20 Where are we going? Freelancr Mobile After sufficient user/advertiser traction in the web platform, freelancr will shift its sights to the mobile domain. As more and more professionals work and play using tablets and smartphones, it is integral to growth that a mobile optimized platform is introduced. The Future of Freelancr Freelancr PRO and PRO LUX Introduction of tiered paid memberships with different pricing structures and premium features. Access to paid software and data on which jobs suit your skills.

21 Freelancr MVP The freelancr MVP is a combination of online activities that attract, inform, inquire and learn from potential customers Website Blog freelancrconcept.tumblr.com Kickstarter Campaign -an-online-community-for-marketing-profes

22 Thank you for your time! For further information on the project please visit Or Carly Rough at