Enhancing Happiness with Happy Test: Behavioral Theories and Quiz by Hedonomics Experts
Happy Test, LLC offers an online service to match people with things that bring them joy within any budget. Utilizing insights from behavioral theories and a quiz created by hedonomics experts, individuals can discover personalized suggestions to elevate their happiness levels. The service includes free registration, personalized happiness profiles, and tailored recommendations across various budget categories. Find your happiness today with Happy Test!
Download Presentation
Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author. Download presentation by click this link. If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
E N D
Presentation Transcript
HAPPYTEST.C M Seung Jae Lee: Clara Park: Rona Ram: Bo Sivanunsakul: Jae-hee Song 1
BEHAVIORAL THEORIES As Learned in Class: We don t really know what makes us happy Momentary happiness life satisfaction The Focusing Illusion: people do not think about their current life situation every moment of the day The reference points we use affect our levels of happiness Relative happiness: our happiness is not relative to our own potential but rather how well we are doing relative to others Focusing on Hedonomics vs Economics can significantly increase happiness Our level of happiness is not proportional to our spending Need: As service to help consumers properly value and find the things that will contribute to their overall life happiness. 2
INTRODUCING HAPPY TEST, LLC. Happy Test is an online service to match people with things that would make them most happy within any budget. Things that make you smile ? Things that are available Your budget 3
FREETESTTOFINDOUTYOURHAPPINESS MATCH E-Harmony business model Free psychologist created test, pay only when you try suggested matches, 236 members married every day. Happy Test: Free to register and take the test Results include: Happiness profile stored in your account for future visits Suggestions aimed to maximizes your happiness index within each budget category. 4
QUIZBYHEDONOMICSEXPERTS Algorithm takes into account: Demographics age, gender, ethnicity, cultural orientation Current behaviors and satisfaction with them Eating, sleeping, working, socializing Financials Current allocation of funds, amount you think is available to spend on pleasure, long term financial goals Ideal state ratings Needs, wants, wishes. Generate life long happiness profile 5
RESULTSINCLUDEHAPPINESSPROFILEAND SUGGESTIONMATRIX Your Budget Cate gory Suggestions for Clara Free Under $100 Over $100 No such thing as free lunch Eat healthy for more energy. Order from home: www.pinkdot.com Jazz brunch at iCugini www.igucini.com Food Wine paired 14 course at Spago: Champaign brunch with live Jazz www.icugini.com www.spago.com Physical Go jogging with the dog Join a gym: www.24hrfitness.com Go canoeing: www.canoeing.com Exercise Visit a state national park: www.parks.ca.gov There is no traveling that fits your profile in this price range. Rest at home instead. Book a cruise to Europe: www.cruise.com Traveling Learn French for free: www.bonjour.com Send mom some flowers: www.artisticflowerarrangemen ts.com Build pilot in command hours: www.regalair.com Learning Watch Hotaru No Hikaru series at: www.youtube.com Buy the New Verdi Opera collection CD from: www.amazon.com La Traviata is playing in LA: www.ticketmaster.com Exploring culture Mental Find long lost friends: www.facebook.com Invite friends and have a BBQ party in your garden: www.barbecuen.com Start dating: www.eharmony.com Social connection 6
CONTENTSTODRAWREPEATUSERS Free contents include: Financial allocation tracker Return to fill out satisfaction rankings with suggested services. These are taken into your profile for future suggestions. Expert articles Hedonomics, Personal Finance, Excerpt from book by Benartzi Monthly updates on events, groups, services that fit your profile. Online community Happy blog, Happy contests Ads from relevant businesses 7
ADVISORY BOARD EXPERTSINPSYCHOLOGYANDFINANCE + ALLSTAGESOFLIFE SeungJae: Citi finance officer, married with two kids Jaehee: International private wealth management, married Rona: Goldman Sachs private wealth management, just married Bo: Investment banker, in a relationship Clara: Stanford Psychology Department published researcher, single 9
MONETIZATION Revenue Costs Minimum up-front investment Acquisition cost - HappyTest.com website ($1,000) Office fixtures & equipment ($10,000) Cost of software program like eHarmoney ($25,000) Business registration fee ($5,000) Advertising for opening ($5,000) Monthly expenses Est. marketing expense (1st Year : $5,000/month) Human Resource ($30,000) Management (1) Behavioral consultant (1) Marketing personnel (1) IT for website maintenance (1) Administrative personnel (1) Office rental ($2,000) Two main revenue streams Advertisement Commission (1-2.5% from the stores) Revenue s drivers No. of users No. of choices (e.g. stores, restaurants, etc) 10
PROJECT IRR HappyTest, LLC (Unit: in Thousands) 1 2 3 4 5 6 7 8 9 10 2018 2009 2010 2011 2012 2013 2014 2015 2016 2017 Income Statement (Selected) Revenue Advertisement Commission Total revenue 20 203 223 20 543 564 21 885 906 1,228 1,250 22 1,573 1,595 23 1,919 1,943 24 2,267 2,292 25 27 28 29 2,616 2,643 2,967 2,995 3,320 3,349 SG&A Expenses Depreciation expenses EBIT 468 506 550 601 661 733 818 921 1,045 1,195 2 2 2 2 2 4 4 4 4 4 (247) 56 354 647 932 1,206 1,470 1,718 1,947 2,151 IRR Calculation EBIT Depreciatin expenses EBITDA Capital Expenditure Taxes Net working capital Change in net working capital FCF IRR (247) 56 354 647 932 1,206 1,470 1,718 1,947 2,151 2 2 2 2 2 4 4 4 4 4 (245) - - 58 - 16 11 356 - 106 18 649 - 193 25 934 - 279 32 1,210 1,027 1,474 - 440 1,722 - 514 1,951 - 583 2,155 - 644 20 361 39 30% 4 46 7 53 7 60 7 67 7 1 7 7 7 7 7 -46 82% (246) 35 244 448 648 822 1,201 1,361 1,504 The project will require $290,000 in financing. $1.6 Million in revenue by year 5. 11
ASSUMPTIONS HappyTest, LLC (Unit: in Thousands) 1 2 3 4 5 6 7 8 9 10 2018 2009 2010 2011 2012 2013 2014 2015 2016 2017 Assumptions Population (Age 25-45) Source: US Census % Population growth 83,627 83,822 84,017 84,213 84,409 84,605 84,803 85,000 85,198 85,396 0.23% 0.23% 0.23% 0.23% 0.23% 0.23% 0.23% 0.23% 0.23% 0.23% Est martket share No. of users 0.02% 13 0.04% 34 0.07% 55 0.09% 76 0.12% 97 0.14% 118 0.17% 140 0.19% 161 0.22% 183 0.24% 205 Ratio of no. of choices to users (1:100) No. of choices 100 100 100 100 100 100 100 100 100 100 1,254 3,353 5,461 7,579 9,707 11,845 13,992 16,150 18,318 20,495 Advertisement % Growth 20 20 21 22 23 24 25 27 28 29 2.00% 3.00% 4.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% No. of stores 40% 40% 10% 10% Comission revenue Commission % 1.0% 1.5% 2.0% 2.5% Rev per store per month 1.0 1.0 1.5 2.0 45 68 34 56 203 121 181 91 151 543 197 295 147 246 885 273 409 205 341 1,228 349 524 262 437 1,573 426 640 320 533 1,919 504 756 378 630 2,267 581 872 436 727 2,616 659 989 495 824 2,967 738 1,107 553 922 3,320 SG&A Expenses Human resources Office rental Marketing expense Administrative expenses Total 360 24 60 24 468 374 26 75 30 506 389 29 94 38 550 405 32 117 47 601 421 35 146 59 661 438 39 183 73 733 456 43 229 92 818 474 47 286 114 921 493 51 358 143 1,045 512 57 447 179 1,195 12
THANK YU Q&A? 13
APPENDIX 14
