Thankscoach (or coachable)

Category: Contestants

 

Name: Irene Papajohn

NYU affiliation: Stern

NYU status: Alumni

Did you enter last year?: No

Do you have any teammates?: No

How many, including yourself?:

 

Concept Name

Thankscoach (or coachable)

 

High Concept Statement

Thankscoach is a platform that brings coaches and clients together, a TaskRabbit for Coaching– making coaches accessible to everyone

 

Status Quo

Many people get “stuck” in their lives, but sometimes the inertia is too strong and they stay stuck, or sometimes they try and try, but still can’t reach their goals.  Each person should have the ability to experience the benefit of a coach– someone who will help them to get from where they are to where they want to be; someone who is on their side and who has the tools to a. help them discover their true goals b. develop a plan for how to get there and c.  keep them accountable. There is a large focus on health, wellness, mindfulness, so I think that the timing is great for the concept of coaching, whether career, life, or wellness coaching. A major problem is that people aren’t aware of the concept of a coach and they don’t understand how it helps, or why it is worth the investment.

 

Competition

Very few people have the money or knowledge of the true benefit of a professional coach.  The majority stay in their unhappy situation. Those who have some resources jump to a new job, or seek advice from people who aren’t experts in this field e.g. friends leading to changes that don’t actually improve the original situation, or introduce unexpected issues, or they attend expensive 1 time seminars such as a Tony Robbins, or Landmark Forum, which try to change things virtually overnight and provide no ongoing accountability or guidance.  Those do have gone to a coach usually go to one in their area and pay anywhere from $200 to $600 per session. Most of these coaches require packages such as work coaching sessions, since progress takes time. Digitally, I have seen a coaching offering which has no barrier entry to becoming a coach. It is a very low bar and they offer coach training, which means that they are in the business of creating coaches, rather than providing a platform for existing coaches and those who need their expertise.

 

Solution

Customers will have heard about the concept of a coach, so they will be intrigued, but they will see how easy it is to select a coach that they have a connection with and that has a relevant expertise.  We will also vet each and every coach, to ensure that they are either certified, or have quality experience and relevant training equal to certification. The coaches will use video to share their point of view, rather than a boring written bio.  Past clients will also include their feedback. This will allow for an on-demand option, will not require many sessions and will offer a free 15 minute consultation with the coach. This will also provide an affordable option that focuses on coaches in training.  Note: coaches in training needs hours of coaching to get certified and oftentimes don’t have access to true potential clients, other than friends, which don’t usually convert to paying clients. Including student coaches is a win-win for the coaches and for clients who want to pay less, but still get the tools to succeed.  This offering is better than the alternative of a. doing nothing, b. asking a biased friend, c. paying for a 1 time seminar with 100s or 1000s of people, or d. using a digital source with no standards

 

Revenue Model

This will be a freemium model, where it is free for coaches to include their bio, but they have to pay more to add a video and to advertise their offering

 

Which platform would you like to launch your app on?

Android Phone

 

Which category best describes your app?

Productivity