Who and what are you (including personnel and backgrounds)?
MyTripGuru was founded and created by Nicolas Johansson, an entrepreneur with a background in web analytics and marketing and a passion for travel. An offshore web development company carries out development of the site. A group of Advisors give their input on strategic issues such as such as financial/VC funding, project management, web analytics/social media, and usability.
What financial support did you have to launch the business?
MyTripGuru has always been completely self-funded. No outside investment has been used to create the business.
What problem are you trying to solve?
My main motivation for starting MyTripGuru was that I perceived a need for more targeted travel reviews - from people with clearly defined interests and experiences. Like at a backpacker hostel, the goal is to get advice or inspiration from knowledgeable travelers who have similar travel interests. So, if I am planning a trip with a strong focus on outdoor activities, I want to be able to get advice from travelers who have shared similar experiences at that destination.
Describe the business, core products and services?
MyTripGuru is a user-generated travel guidebook that simplifies trip planning by providing easy-to-access and relevant travel advice for all types of travellers. Members, known as Trip Gurus, accumulate points for their contributions, helping travellers get advice from knowledgeable experts in different destinations and activity types.
Who are your key customers and users at launch?
The target market for MyTripGuru is independent travellers who love to share their travel experiences and help others have equally memorable trips.
Did you have customers validate your idea before investors?
We are currently in the validation stage. Gaining traction – members, conversions and engagement – is part of the strategy before we actively seek to attract investors.
What is the business AND revenue model, strategy for profitability?
The business model for MyTripGuru is advertising. This includes pay per click ads, affiliate links and sponsored activities. Sponsored activities allow travel businesses to promote their services within the organic user-generated content. Having kept costs low, we hope to achieve break even within 6 months.
SWOT analysis – strengths, weaknesses, opportunities and threats?
Prefer not to answer.
Who advised you your idea isn't going to be successful and why didn't you listen to them?
Many people told me that the travel planning market is a very crowded space that does not need another player. But, as a long time traveller and veteran of the web, I repeatedly found myself shunning the web for my trip planning because it didn’t meet my needs. Furthermore, the market is crowded, but very fragmented, and a very large segment of travellers have yet to go to the web for their trip planning needs. So, I see potential for not just MyTripGuru but also for the market as a whole.
What is your success metric 12 months from now?
A key metric for us is to reach 1000 active members on the site. An active member for us means a Trip Guru who signs in once a month and has contributed at least one review.
TLabs focus on startups featuring Gutenberg, Germany-based
MyTripGuru.
Who and what are you (including personnel and backgrounds)?
MyTripGuru was founded and created by Nicolas Johansson, an entrepreneur with a background in web analytics and marketing and a passion for travel. An offshore web development company carries out development of the site. A group of advisors give their input on strategic issues such as such as financial/VC funding, project management, web analytics/social media, and usability.
What financial support did you have to launch the business?
MyTripGuru has always been completely self-funded. No outside investment has been used to create the business.
What problem are you trying to solve?
My main motivation for starting MyTripGuru was that I perceived a need for more targeted travel reviews - from people with clearly defined interests and experiences. Like at a backpacker hostel, the goal is to get advice or inspiration from knowledgeable travelers who have similar travel interests. So, if I am planning a trip with a strong focus on outdoor activities, I want to be able to get advice from travelers who have shared similar experiences at that destination.
Describe the business, core products and services?
MyTripGuru is a user-generated travel guidebook that simplifies trip planning by providing easy-to-access and relevant travel advice for all types of travellers. Members, known as Trip Gurus, accumulate points for their contributions, helping travellers get advice from knowledgeable experts in different destinations and activity types.
Who are your key customers and users at launch?
The target market for MyTripGuru is independent travellers who love to share their travel experiences and help others have equally memorable trips.
Did you have customers validate your idea before investors?
We are currently in the validation stage. Gaining traction – members, conversions and engagement – is part of the strategy before we actively seek to attract investors.
What is the business AND revenue model, strategy for profitability?
The business model for MyTripGuru is advertising. This includes pay per click ads, affiliate links and sponsored activities. Sponsored activities allow travel businesses to promote their services within the organic user-generated content. Having kept costs low, we hope to achieve break-even within six months.
SWOT analysis – strengths, weaknesses, opportunities and threats?
Prefer not to answer.
[Editor's note: not good enough. What do readers think?]
Who advised you your idea isn't going to be successful and why didn't you listen to them?
Many people told me that the travel planning market is a very crowded space that does not need another player. But, as a long time traveller and veteran of the web, I repeatedly found myself shunning the web for my trip planning because it didn’t meet my needs. Furthermore, the market is crowded, but very fragmented, and a very large segment of travellers have yet to go to the web for their trip planning needs. So, I see potential for not just MyTripGuru but also for the market as a whole.
What is your success metric 12 months from now?
A key metric for us is to reach 1,000 active members on the site. An active member for us means a Trip Guru who signs in once a month and has contributed at least one review.
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