Entrepreneurship Hour: ?TheBrandCoach? Network Daily Entrepreneurship Case Scenarios_ Thursday 17th October 2024.

Entrepreneurship Hour: ?TheBrandCoach? Network Daily Entrepreneurship Case Scenarios_ Thursday 17th October 2024.

CASE SCENARIO ONE

#abillionlivesgloballymission

You're launching a startup with limited funds. How can you generate buzz without breaking bank?

Think partnerships!

You're on low budget. The goal however, is to launch your start up. You really need to generate and sustain a buzz but you don't want to break bank. Partnerships will be your saving grace

Partnerships present you with an opportunity to leverage.

Creatively reach out to strategic players for win win partnerships as an avenue to influence their influence and your expertise to create and sustain a buzz.

Make your launch party a memory to recall.

For example you could exchange audience for hosting fee at the hotel.

Such that you drive strategic convertible audience to their business and in exchange waiver off hosting fees for your launch event.?

CASE SCENARIO TWO

#abillionlivesgloballymission

Struggling to stand out with a tight budget in your venture. How can you outshine your competitors?

Embrace outsourcing!

The budget is already tight. And you know it. However you yearn to stand out with your venture and possibly outshine your competitors because it's part of the game.

With a stringent budget; hoping onto outsourcing will enable you employ resources at a relatively lower cost that will possibly fit into your budget.

For example other than buying a project car for staff, you'd better outsource by leasing from a car hire company to serve the same purpose and reduce running costs headache.

CASE SCENARIO THREE

#abillionlivesgloballymission

You're venturing into marketing partnerships. How can you strike a balance between exposure and costs?

Measurable KPI [key performanceindicators]

When venturing out into marketing partnerships and out to strike a balance between exposure and costs; it's prudent to have Measurable Key Performance Indicators [KPIs] for both Exposure and cost.

Say for example how much exposure do you want in a month and at what cost?

Probe further and do a CBA (Cost Benefit Analysis) as part of the key performance indicators

This will help you determine whether the amount of exposure you achieve translates into revenue mid, short or long term?

And how can you then balance off as a control measure.?

To ask how much exposure is good exposure and how much exposure is too much exposure?

When it comes to cost and costing; what's the stretch point for your venture? How much cost budgeting can your venture withhold successfully?

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