Existing Market
What's next?
I believe the next step for my venture to be software training for clients
Interviews
The people I interviewed seemed to think that software, and technical, support should follow. This is similar to my idea in that I would offer training post purchase. This would hopefully alleviate some of the technical questions. When asked if they thought tech support from the manufacturer was more appropriate they agreed. This has left me concerned about what future product growth could be.
Future Market
I decided to speak to owners of for profit firms about what their needs are regarding technological infrastructure improvements. They all stated that if a firm offered them below wholesale cost technology they would be greatly interested in investigating that option. The viability of this is suspect though as I am not sure the firm would receive as much government funding as it would if it solely worked with nonprofit firms. I believe that service costs and donations would still be attainable just not as much, and, with a reduction in grants this may be undo-able.
This exercise left me in question regarding what could come next. In the nonprofit sector growth is measured by reaching new clientele and markets, not necessarily offering new services. To reach out to for profit clients may put funding at risk. I think that looking into the logistics of offering services to non local clients may be the best shot at growth. Because not much of this venture requires face to face business I think that internet marketing may be the solution to this.
By offering services on a more national level would probably open the firm up to new grant reception possibilities. By doing this more funding may be available giving the firm the option to greatly reduce pricing. Because the purpose of this project is to reduce pricing for our clients, and not make a profit, this may be a viable discussion.
Training is important. I know that people who are properly trained are usually happier in their job and more content. This leads to a smaller turnover which adds value to your venture. I agree that this assignment was interesting to think about what comes after our venture as we have been focusing so much on getting the first step going.
ReplyDeleteHello Brett,
ReplyDeleteI think you are definitely on the right track with the software training for your clients. People enjoy choosing when to work out instead of having to work out on other peoples schedule. I also think that this assignment made us think about our venture in a new way. I think you did a great job with this assignment. Keep up the good work!
Software training would be very crucial for you venture concept. Since these nonprofits do not really have much access to technology without your concept, they most likely will need assistance learning and using the software. I think it’s great that you’re aware of potential issues that you may face with your venture and are coming up with solutions. Keep up the good work!
ReplyDeleteHey Brett,
ReplyDeleteI actually commented on your venture concept something similar to this before reading your "whats next" post so I think it just shows great minds think alike. I believe this is definetly the next step to your business and also a very important element. Learning new softwares can be extremely difficult, especially for the older generation. Having an expert come in and give a lesson on a new software or any new piece of technology would have a large impact on your business and help take it to the next level. Good job!
Hi Brett,
ReplyDeleteGreat job on this "What's Next?" assignment. I think training is an invaluable investment for a company to pursue. I also completley agree with the direction you are thinking of taking your company by going to more of a national consumer base. Though I did not complete this assignment, it is clear how valuable thinking about the next steps is. Good luck!
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