{"id":886,"date":"2020-08-21T13:15:10","date_gmt":"2020-08-21T17:15:10","guid":{"rendered":"https:\/\/digital.hbs.edu\/platform-hbappitch\/submission\/happy-heart\/"},"modified":"2020-08-21T13:15:10","modified_gmt":"2020-08-21T17:15:10","slug":"happy-heart-a-new-business-model-for-senior-independent-living-and-their-families","status":"publish","type":"hck-submission","link":"https:\/\/d3.harvard.edu\/platform-hbappitch\/submission\/happy-heart-a-new-business-model-for-senior-independent-living-and-their-families\/","title":{"rendered":"Happy Heart \u2013 A New Business Model for \u201cSenior Independent Living\u201d\u2026 and Their Families"},"content":{"rendered":"

\"Happy\"\"<\/p>\n

 <\/p>\n

\"\"\"Happy<\/p>\n

Todd Brous:\u00a0 Loves Roasted Brussel Sprouts with a little salt, pepper, and olive oil.\u00a0 He\u2019s also an Entrepreneur, Consultant, Product Developer, Technologist, Designer, Artist, and Teacher.\u00a0 He is the President and CEO of Untwist, Inc., a Boutique Technology Consulting Firm, and has worked for 20+ years in Media & Entertainment, IT, Technology, and Content Creation.<\/span>He has an MFA in Computer Art from The School of Visual Arts, where he was also an instructor for 19 years teaching Computer Systems, and… he has a Design Patent for a fidget toy.<\/span><\/h2>\n

Scotty McConnaughey loves mangos, preferably eaten in warm climates.\u00a0 For 20 years she analyzed stocks and managed equity portfolios for Fidelity Investments and Aberdeen Standard Investments. She currently serves as advisor, operating partner, and board member to MaxMyInterest, Ouroboros Capital, and Wondermore Boston.<\/span><\/h2>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

\"Happy<\/p>\n

\"Happy<\/p>\n

What are Seniors and their Families <\/span>worried<\/span><\/i> about?\u00a0\u00a0<\/span><\/h2>\n

What keeps them up at night?<\/span><\/h2>\n

How do Seniors want to <\/span>live<\/span><\/i>?\u00a0\u00a0<\/span><\/h2>\n

How do <\/span>we <\/span><\/i>want to take care of our Senior Friends and Family Members?\u00a0\u00a0<\/span><\/h2>\n

<\/h2>\n

Seniors wonder…<\/span><\/h2>\n

What should I do if there\u2019s an emergency?\u00a0 What if I need to repair something in the house and I can’t do it myself?\u00a0 How can I chat with the family when I can barely read or type on a Smartphone?\u00a0 How can I easily buy something when my kids help out with my finances?\u00a0 How can I avoid being scammed?\u00a0 Did I take my medication?\u00a0 I\u2019m far away from my kids and grandkids… and because of Covid… I\u2019m afraid I\u2019ll never be able to see them ever<\/em> again.\u00a0 \u00a0 <\/span><\/h2>\n

 <\/p>\n

\"Happy<\/p>\n

Happy Heart<\/b> helps solves these problems by bringing<\/span> Seniors, Family Members, and Vendors, together through an integrated digital platform.<\/span><\/h2>\n

Happy Heart\u2019s<\/b> goal is to revolutionize how Seniors live by changing the way they interact with the world.\u00a0 We empower Seniors to help them to Live Independently, provide their Families with the Confidence that they are well cared for… and we do this… all through our Digital and Artificial Intelligence and Machine Learning Platform.<\/span><\/h2>\n

And when the time comes to decide on Assisted Living\u2026 you\u2019ll at least have the data to help your family make the decision together.<\/span><\/h2>\n

 <\/p>\n

 <\/p>\n

\"Happy<\/p>\n

Design and Interaction bring users to our platform, and we capture value in a few ways.<\/span><\/h2>\n

The Happy Heart Digital Platform<\/strong> is designed to support Seniors with the services and support they\u2019ll need to live an Independent Lifestyle… <\/span>while also providing their Families access to information and services that\u2019ll help them as well.<\/span>\u00a0 <\/span><\/h2>\n

The key is the Smartphone App.\u00a0 (There’s a Web Portal too.)<\/span><\/h2>\n

It turns out that many of the Apps that are already out there are great… but Seniors struggle to use them.\u00a0 Simply\u2026 they just aren\u2019t <\/span>designed<\/span><\/i> for Seniors.\u00a0 \u201c<\/span>Design Thinking\u201d is a key aspect of everything we do, and the Primary Seniors\u2019 User Interface (UI) needs to be extremely simple to use, and it can\u2019t change over time.\u00a0 It\u2019s gotta be easy to remember where buttons are located… and when a new user is added into our system, the UI can be <\/span>completely<\/span><\/i> customized for every individual\u2019s needs.\u00a0 (For example, imagine a \u201cvoice-recognition interface\u201d that doesn\u2019t normally display a keyboard for someone who has trouble typing.)<\/span><\/h2>\n

The Happy Heart<\/strong> platform will integrate with commercial off-the-shelf Health Monitoring Hardware and Sensors, including devices and services from Apple, Google, and Amazon (Siri, Alexa, iWatch, etc.) as well as any number of BYOD and Home Automation Sensors.\u00a0 We want <\/span>you<\/span><\/i> to use what <\/span>you<\/span><\/i> feel comfortable with.<\/span><\/h2>\n

Oh\u2026 and the Chat will have Stickers too.\u00a0 Everyone <\/span>loves<\/span><\/i> chat stickers!<\/span><\/h2>\n

Lastly\u2026 if there\u2019s ever an Emergency\u2026 not only will it be <\/span>easy<\/span> to call for help, but registered friends, family, and trusted neighbors can also get alerts and can join into a group conversation.<\/span><\/h2>\n

 <\/p>\n

 <\/p>\n

\"Happy<\/p>\n

The world is made up of people and families… and the people we aim to serve are<\/em> our families. We believe that the meaning of life is to Love and to Learn, and living independently leads to a fuller and happier life. This is why we do what we do.<\/span><\/h2>\n
(… and Ice Cream.)<\/span><\/h5>\n

 <\/p>\n

\"Happy<\/p>\n

How does this all work?<\/b>\u00a0 <\/span>Well\u2026 did you know that designing Multi-sided Business Models is lots of fun?<\/b>\u00a0 \u2018Cause if you can get the equation right\u2026. Wow! \u00a0 Oh, and please don\u2019t forget that <\/span>#networkeffects are super<\/em> powerful too.<\/span><\/h2>\n

On one side we\u2019ve got the Users: Seniors + Families<\/span><\/h2>\n

On the other side there are the Vendors: Services, Delivery, Transportation, Support, etc.\u00a0\u00a0<\/span><\/h2>\n

Yes!\u00a0 That\u2019s right!\u00a0 I\u2019m totally<\/em> thinking the same thing as you!\u00a0 (That’s crazy!\u00a0 Get out of my head!) We <\/span>could<\/span><\/i> get into Healthcare Services if we want to be Super Bold… but… I think it\u2019ll <\/span>probably<\/span><\/i> be better if we focus on one thing at a time.\u00a0 \u00a0 \u00a0#phase2<\/span><\/h2>\n

One possible, and quite frankly, personally-<\/em><\/span>desired<\/span><\/em> approach to this would be to Shoot for the Moon.\u00a0 Imagine using a Business Model that\u2019s similar to U.S. Foods.\u00a0 Think about the old \u201cRazor and Razor Blade\u201d business model for a second… if we can turn someone else\u2019s Blades, into our Razor, then we just took away their entire<\/em> revenue stream.\u00a0 We win… and they can no longer compete.\u00a0 They\u2019re done.\u00a0 It\u2019s over.\u00a0 Mic.\u00a0 Drop.\u00a0 #HBAP<\/span><\/h2>\n

We want to turn every Senior-Support Software and Hardware Vendor into a commodity\u2026 and we can totally do it if we can get this formula right.<\/span><\/h2>\n

(Side note:\u00a0 You’ve really<\/em> gotta<\/em> go read <\/span>Driving Digital Strategy: A Guide to Reimagining Your Business<\/span><\/i> by Sunil Gupta<\/span><\/a>.\u00a0 Not to mention, Competing in the Age of AI: Strategy and Leadership When Algorithms and Networks Run the World by Karim Lakhani and Marco Iansiti<\/a>.)<\/span><\/h2>\n

 <\/p>\n

 <\/p>\n

\"Happy<\/p>\n

Our Addressable Market is \u201cnot bad\u201d.\u00a0 One could argue it may be smaller… or it may be bigger\u2026 but we\u2019ll definitely take it either way.\u00a0 And according to some US Government Agency that’s responsible for counting people… by 2030, \u201colder Americans will make up 21 percent of the population, up from 15 percent today\u201d*<\/span><\/h2>\n

That ARPU value in the Slide Deck was unceremoniously taken from Care.com.\u00a0 We <\/span>think<\/span><\/i> it could be higher with more functionality in our platform, but we would need access to some Smarter People to help us figure that one out.<\/span><\/h2>\n

Oh, by the way\u2026 there are a few other \u201cpotential addressable markets\u201d that are worth mentioning.\u00a0 Apparently, moving from \u201cmulti-generational family homes\u201d to \u201cgenerations living apart\u201d is <\/span>not<\/span><\/i> just a US thing:\u00a0<\/span><\/h2>\n

India: 8.5M\u00a0 = 140M people * 3% market share * $2 ARPU<\/span><\/h2>\n

Thailand: 2.6M = 13M people * 10% market share * $2 ARPU<\/span><\/h2>\n

Globally:\u00a0 $290M = 962M people * 5% market share * $6 ARPU<\/span><\/h2>\n

Post-Covid <\/span>Side Note: <\/span>\u00a0Interest in Independent Living vs. Assisted Living is increasing.\u00a0<\/span><\/h2>\n

<\/h2>\n

Source:<\/span><\/h2>\n

* https:\/\/www.census.gov\/library\/stories\/2018\/03\/graying-america.html#:~:text=Starting%20in%202030%2C%20when%20all,add%20a%20half%20million%20centenarians.<\/span><\/a><\/h2>\n

<\/h2>\n

\"\"<\/p>\n

\"Happy<\/p>\n

Value Capture with Analytics, ML, and AI:<\/b><\/h2>\n

Turning our competitor\u2019s Razor Blades into <\/b>our<\/i><\/b> Razors is the goal.<\/b>\u00a0\u00a0<\/span><\/span><\/h2>\n

Through a Design Thinking approach to the Customizable User Interface <\/span>we entice Seniors and Families onto the platform, and grow the User Base.\u00a0 The moment Vendors and Premium Services are included… that’s our primary value capture.\u00a0 (Moonshot: free or low-cost hardware and sensor solutions would further disrupt competitors. #thinkaboutit)<\/span><\/h2>\n

All Core Services are Free: Health Monitoring, Chat, Video, etc.<\/span><\/h2>\n

Generate Revenue from: Premium Subscriptions, Vendor Vetting Services, Concierge, Paid Analytics, Insurance Sales, and taking a piece of every transaction that runs through the platform.<\/span><\/h2>\n

There are numerous apps and service providers that address the aging market, we also want to be the systems integrator of choice for those vendors.<\/span><\/h2>\n

<\/h2>\n

\"\"<\/p>\n

\"Happy<\/h2>\n

What do we need?\u00a0\u00a0<\/span><\/h2>\n

Well, we need a few things on top of what we\u2019ve already got\u2026 and we\u2019ve got a great Starting Team.\u00a0\u00a0<\/span><\/h2>\n

Scotty\u2019s got the Business and Finance chops, and Todd\u2019s got the Visionary\/Explorer\/Systems Architect\/Artist thing.<\/span><\/h2>\n

<\/h2>\n

We need some money.\u00a0<\/span><\/h2>\n

We need some more people.<\/span><\/h2>\n

We need some cloud resources.\u00a0 We\u2019re looking at <\/span>you<\/span><\/i> Google and Amazon.\u00a0<\/span><\/h2>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

\"Happy<\/p>\n

Yes.\u00a0 There <\/span>are<\/span><\/i> competitors out there.\u00a0\u00a0<\/span><\/h2>\n

We want to try to take some of them down.\u00a0\u00a0<\/span><\/h2>\n

They\u2019re mostly \u201cfeatures\u201d of a platform… and they don\u2019t even know it.\u00a0 (Shhhh\u2026 don\u2019t tell them!\u00a0 It\u2019s a secret!)<\/span><\/h2>\n

Design Thinking and UI\/UX is how we get Seniors and Families on board.\u00a0 All of our features will help bring <\/span>both<\/span><\/i> the Users and the Vendors up the Pyramid.<\/span><\/h2>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

\"Happy<\/p>\n

Here\u2019s a potential roadmap.\u00a0 Minimum Viable Products are flexible<\/em>.\u00a0 We’ll need to be Agile, and adjust along the way.\u00a0 #nowaterfalls<\/span><\/h2>\n

We\u2019ll look to play with a few Early Adopters\u2026 because… Early Adopters adopt things early.<\/span><\/h2>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

\"Happy<\/p>\n

We believe that the meaning of life is to Love and to Learn, <\/strong><\/h1>\n

and Living Independently leads to a fuller and happier life. <\/strong><\/h1>\n

This is why we do what we do.<\/strong><\/h1>\n

Happy Heart!<\/strong><\/h1>\n

 <\/p>\n

#HBAP #DSI #FQA #LIC #OSCM #PDSS<\/h6>\n
\u00a9 2020, Todd Brous, Untwist, Inc.<\/h6>\n","protected":false},"excerpt":{"rendered":"

We want to help Seniors live independently, for as long as they can, without the need for assisted living.<\/p>\n","protected":false},"author":13541,"featured_media":905,"comment_status":"open","ping_status":"closed","template":"","categories":[477,506,489,449,514,486],"class_list":["post-886","hck-submission","type-hck-submission","status-publish","has-post-thumbnail","hentry","category-assisted-living","category-digital-platform","category-network-effects","category-platform","category-platform-operating-model","category-smartphone","hck-taxonomy-organization-happy-heart","hck-taxonomy-industry-health","hck-taxonomy-country-united-states"],"connected_submission_link":"https:\/\/d3.harvard.edu\/platform-hbappitch\/round\/contestant-submissions-september-2020\/","_links":{"self":[{"href":"https:\/\/d3.harvard.edu\/platform-hbappitch\/wp-json\/wp\/v2\/hck-submission\/886","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/d3.harvard.edu\/platform-hbappitch\/wp-json\/wp\/v2\/hck-submission"}],"about":[{"href":"https:\/\/d3.harvard.edu\/platform-hbappitch\/wp-json\/wp\/v2\/types\/hck-submission"}],"author":[{"embeddable":true,"href":"https:\/\/d3.harvard.edu\/platform-hbappitch\/wp-json\/wp\/v2\/users\/13541"}],"replies":[{"embeddable":true,"href":"https:\/\/d3.harvard.edu\/platform-hbappitch\/wp-json\/wp\/v2\/comments?post=886"}],"version-history":[{"count":5,"href":"https:\/\/d3.harvard.edu\/platform-hbappitch\/wp-json\/wp\/v2\/hck-submission\/886\/revisions"}],"predecessor-version":[{"id":1071,"href":"https:\/\/d3.harvard.edu\/platform-hbappitch\/wp-json\/wp\/v2\/hck-submission\/886\/revisions\/1071"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/d3.harvard.edu\/platform-hbappitch\/wp-json\/wp\/v2\/media\/905"}],"wp:attachment":[{"href":"https:\/\/d3.harvard.edu\/platform-hbappitch\/wp-json\/wp\/v2\/media?parent=886"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/d3.harvard.edu\/platform-hbappitch\/wp-json\/wp\/v2\/categories?post=886"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}