Class: 2013 Summer Accelerator
Principium Prep is an online resource center for parents and students seeking information regarding education. Principium Prep focuses on resources available to an individual on a local level, more specifically within your community.
July 9, 2013
Spreading The Word: Putting it all together!
I loved this class! During this marketing 101 class, Bobbie, from Carlton Marketing, helped us better understand the basics of marekting, how to control it, and what to do with the PR you do not have control over known as "Elephant Escapes".
Bobbie helped us understand that cost associated with "optimizing" your website online, where should your dollars be spent, what can you do low cost, and Bobbie stressed the key to maintaining some older marketing techniques available.
During our social media session, Bobbie discussed the importance of understaning that social media does not solve every problem in a business. When do you do a soft launch, and simple inexpensive ways to improve social media and site optimization.
I enjoyed the tips that were provided during this class, especially when she cautioned us on having our social media before our launch timeline. These two things need to be tied together.
At this time, I have decided to stay away from social media until I have a product to show. As soon as I have a tangible product, I will launch my social media. I also updated my marketing plan using several tips from Bobbie.
After speaking to both my mentors, I have a better idea as to what I need to do in order to launch my idea. David, my tech savvy mentor, has advised me to narrow down my target market for the soft launch. What target would be the easiest to test the model and who would "buy in" immediately. Barrie, my non profit expert, has has provided me with honest feedback on establishing a solid business model I can use to show investors.
In the next coming weeks I will be working with Barrie to complete my business plan, and will be discussing my "next steps" within that plan.
The goals I have established and would like to complete before the end of the accelerator program are as follows:
1. Create/build a model in the segment chosen.
2. Test the model while working out the kinks and growing the chosen segment.
3. Create a business plan, budget, and funding sources to complete the project.
My model has been sketched and I am currently in the process of building that model. I have spoken to a group that has kindly agreed to test my model.
July 2, 2013
Marketing: Putting the right product in the right place, at the right price, at the right time.
How would you market your idea? During today's sesssion we worked on marketing strategies, branding, and we took a glimpse at social media. The class was full of information and tips on what options you have when deciding to market your product, how to prepare a marketing plan, and the execution process.
I took notes throughout the class and went home to analyzedmy business and what I could add to my plan. I also thought about different "Guerilla" marketing ideas. Defnitely fun to do in the future but would they work?
June 25, 2013
Start With A Leap Of Faith
Today we tested assumptions. When testing assumptions, the goal is to use as little resources as possible to prove your assumption, and to focus that limited time, resources, money, on what matters most.
We also discussed value propositions and segment testing. It was a great way to dig into our businesses and analyze what exactly we were offering to our customers.
Sorting through my own business was extremely helpful in that it forced me to pull out the value of my product. What makes my product different, better, and stronger. Why do my customers needed it? What are the problems/pains and how is my product changing that.
What was my value proposition? My product enhances student and parent educational resources within their communities.
Now to the testing phase!
As Emil and Lianna went over the logistics for the next two months, I wondered how I would complete Principium Prep-Resources for College, Lessons for Life. Surrounded by incredible startups, many already in the testing phase, I felt slightly intimidated. Principium Prep, still in the planning phase, has been something I have wanted to finish for several years.
As the day continued, we listened to several different guest speakers, Sarah Espinosa, of Casa Catour, was one of those individuals. Sarah discussed her company and gave advice about how to process the next two months. Sarah finished by giving us three important tips that I will definitely keep in mind throughout this process.
1. Takes a Village: What kind of mentors do you need to get the business to the next level. What are your strengths and weaknesses? Think short term and long term mentors. Be strategic about what your milestones will be and who are the right players to help you achieve those milestones.
2. Stay Focused: Time is limited. Do not chase a bunch of leads. Stay true to your vision. Make it clear, put it on a board, and stick to it.
3. Build your Network: This is not a competition. Help each other out, does not matter if the industries are different.