Mike Baldo

Co-founder at OwnMyLoans



OwnMyLoans- Cooperative, rewarding, student loan repayment

Crowdfund student loan repayment with small contributions from family and friends, sent directly to lenders, and pay your student loans off faster. Track progress with interactive displays and planning tools of your repayment progress. Earn rewards along the way, all in a cooperative community of other borrowers. 

Viral Map

1. List all major “players” in the system (eg. a marketplace may have two major players: buyers & sellers)
  • Borrowers
  • Backers (family/friends that contribute)
  • Businesses
 2. List out any selfish reasons why each player would need their contacts/friends to join the service
  • Borrowers need to share their profile to receive contributions
    • Borrowers need help to pay loans off faster (4)
  • Borrowers need to gather contributions to receive rewards
    • Borrowers want free rewards and discounts to save money (4)
  • Borrowers want to share their profile to get more borrowers on OML
    • More users mean better rewards (4)
  • Backers want to contribute to help friends/family
    • Backers feel good about helping borrowers (4)
  • Backers want to contribute to get rewards
    • Backers want free rewards and discounts to save money (4)
  • Borrowers want to create a profile to feel like they’re part of the community
    • Helps borrowers feel comfortable knowing many others are in the same situation (4)
  • Borrowers want to share their repayment progress/milestones
    • Makes borrowers feel proud to work towards zero debt (4)
  • Businesses want users to share the deals they receive with friends
    • Helps bring in more customers that want the same deals/rewards (4)
  • Businesses want to earn credibility for participating in a good cause
    • Helps generate trust and loyalty around the brand (4)
 3. List out all things you could possibly charge each player for on the service
  • Charge processing fee to backers for contributions
    • Facilitating payment direct to lender (4)
  • Charge businesses a percentage on each reward redeemed
    • Driving borrowers to a specific purchase (4)
  • Charge businesses advertising fee to be on service
    • Increasing brand awareness and presence (4)
4. For 2 and 3 above give a very short reason you think the player would be motivated to need their contact or pay for the service

5. a. List the channels (email, facebook, text message, etc.) that you will send your users’ invites through and b. how you will get that contact data

a. Facebook, Twitter, Email

b. Import Facebook friends and pull email contacts from Gmail, Yahoo, etc. with API

6. Create what those invites will look like

Borrower Facebook share after OML milestones: sign up, receive rewards, receive contributions, etc.

Borrower "Sharing Dashboard"

Backer "Thank You" after contribution. List other borrowers on OML from backer's Facebook friends:



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