The journey of a 1st gen entrepreneur begins with nothing but big dreams- few contacts, fewer monies & no experience.
We too began thus, fresh grads in our early 20s. It was a super roller coaster- many lows & awesome highs. Now, we look back & connect the dots. We compare ventures, identify patters & try to understand the science. Yes, it is science & not the art of a few!
iam a fresher..i jst complete my Btech in Information Technology...i would like to enter into eb devolopment field n willing to start online ventures...but i hv nt experience..will u plz help me
Hello, i am a 3rd student at BITS Pilani. I am working on a start-up idea of a campus marketing agency which has its network in different prestigious institutes of the country like IITs and NITs. It provides advertising and marketing services to its client companies through a network of campus ambassadors in various colleges by methods ranging from posters to e-marketing.
Can u suggest me the revenue model for such start-up. How should we charge our clients? What kind of companies should be our target customers?
Have you spoken to a couple of companies, to understand how willing they would be?
and have to spoken to any potential campus representatives (say from BITS Goa or Hyd) to gauge what incentive motivates them?
What you would charge depends on the above two factors. Initially, I am sure that companies would want to pay on the basis of performance - reach or conversion. If they strictly propose paying by conversion, you should rethink the deal.
If you target the right companies, you will make more revenue. Mobile network operators, handset sellers, PC or laptop or tablet sellers, competitive exam coaching centers, recruiters etc. are a few potential clients for you.
If you have any more questions, happy to answer them. All the best!
Thanks a lot Sasikanth for your reply. Your advice is of great help .
As u asked about the potential campus reps. Our plan is that at the initial stage our friends in IITB, IITD, IITKgp,and LNMIT jaipur will be our campus reps. We have spoken to them and they have agreed to work for us. And of-course we will start paying them at later stages.
And regarding potential customer companies...yes, we are speaking to a couple of companies but have not struck a deal yet.
Can u suggest what should should be our strategy while approaching these companies. We r already counting on the advantage of having 3 college fests.
1. Even if friends and contacts have agreed to work for you, you should offer something that keeps them consistently motivated. Or the whole thing will lose steam soon. It need not always be money. You will anyway have to pay them in the long run. But think of how they can sustain their interest till that phase. For instance, can you recruit some prof as an adviser and assure them a great reco when they app?
2. You should quantify the benefit to a company. You should list out A. the channels through which you can reach, B. No of people you can reach (through each source) and hence, show them that their cost to reach out per customer is lower or of more value for money (coz of higher conversion), whichever is the case.
A company would generally hesitate looking at your in-experience. But, when you approach them with proper numbers and not just an idea and some passion, you will win them over.
iam a fresher..i jst complete my Btech in Information Technology...i would like to enter into eb devolopment field n willing to start online ventures...but i hv nt experience..will u plz help me
ReplyDeleteSure, if you can be a bit more precise on how we can help.
DeleteHello, i am a 3rd student at BITS Pilani.
ReplyDeleteI am working on a start-up idea of a campus marketing agency which has its network in different prestigious institutes of the country like IITs and NITs. It provides advertising and marketing services to its client companies through a network of campus ambassadors in various colleges by methods ranging from posters to e-marketing.
Can u suggest me the revenue model for such start-up. How should we charge our clients?
What kind of companies should be our target customers?
Hi Tushar
ReplyDeleteHave you spoken to a couple of companies, to understand how willing they would be?
and have to spoken to any potential campus representatives (say from BITS Goa or Hyd) to gauge what incentive motivates them?
What you would charge depends on the above two factors. Initially, I am sure that companies would want to pay on the basis of performance - reach or conversion. If they strictly propose paying by conversion, you should rethink the deal.
If you target the right companies, you will make more revenue. Mobile network operators, handset sellers, PC or laptop or tablet sellers, competitive exam coaching centers, recruiters etc. are a few potential clients for you.
If you have any more questions, happy to answer them.
All the best!
Thanks a lot Sasikanth for your reply. Your advice is of great help .
ReplyDeleteAs u asked about the potential campus reps.
Our plan is that at the initial stage our friends in IITB, IITD, IITKgp,and LNMIT jaipur will be our campus reps. We have spoken to them and they have agreed to work for us.
And of-course we will start paying them at later stages.
And regarding potential customer companies...yes, we are speaking to a couple of companies but have not struck a deal yet.
Can u suggest what should should be our strategy while approaching these companies.
We r already counting on the advantage of having 3 college fests.
Hi Tushar
ReplyDelete1. Even if friends and contacts have agreed to work for you, you should offer something that keeps them consistently motivated. Or the whole thing will lose steam soon. It need not always be money. You will anyway have to pay them in the long run. But think of how they can sustain their interest till that phase. For instance, can you recruit some prof as an adviser and assure them a great reco when they app?
2. You should quantify the benefit to a company. You should list out A. the channels through which you can reach, B. No of people you can reach (through each source) and hence, show them that their cost to reach out per customer is lower or of more value for money (coz of higher conversion), whichever is the case.
A company would generally hesitate looking at your in-experience. But, when you approach them with proper numbers and not just an idea and some passion, you will win them over.