I will continue from last week and continue with the story;
I was going to explain Velocity's success, in a contrast to the major mess up that the "Recurrence Events" business had ended up as.
In comparison to last week Velocity was as slick as anything. This may be a case of "the grass is always greener on the other side" but I doubt it.
Velocity also decided to try and enter the event organisation market but were much more successful than our group was. They had a much more specific target market, which was kids aged 14 to 16. This was a definite good move to have a specific target market as it allowed the tailoring of everything to do with the business with this market in mind.
They started out as a group slightly smaller than ours, which may have been an advantage allowing them to agree on things, and to have a greater degree of accountability meaning it was noticeable when somebody slacked off. They managed to get a hall booked in the local town that agreed to host their event, on the pretext there was no alcohol and a deposit was put down. They got an 18 year old member of the school to sign and put the deposit down for them.
They then successfully marketed the event through their younger friends to their friends and then to other schools from there. They also put out some snazzy well designed flyers, which I suspect roused some interest. They then proceeded to take a flood of ticket sales, which pretty much sealed their success from there. With the tickets sold they knew they were going to have people attending.
Another coup that they managed to collect was the fact that one of their older friends was a relatively well know DJ meaning that they could get all that for free. This resulted in quite a large profit margin after holding only a couple of events.
They managed to take home approximately £80 after their donation to charity.
I think their success was mostly down to the better accountability, better organisation and a more consistent leadership. Along with a leader who had a clear strategy.
As a result they made a profit, which they well deserved. I think the ethos of our group which was "leave it until the last minute" in our case didn't help.
A good team with a clear sense of direction won the day.
Until next week, when I might write something on what I learned.
Thanks for reading!
I was going to explain Velocity's success, in a contrast to the major mess up that the "Recurrence Events" business had ended up as.
In comparison to last week Velocity was as slick as anything. This may be a case of "the grass is always greener on the other side" but I doubt it.
Velocity also decided to try and enter the event organisation market but were much more successful than our group was. They had a much more specific target market, which was kids aged 14 to 16. This was a definite good move to have a specific target market as it allowed the tailoring of everything to do with the business with this market in mind.
They started out as a group slightly smaller than ours, which may have been an advantage allowing them to agree on things, and to have a greater degree of accountability meaning it was noticeable when somebody slacked off. They managed to get a hall booked in the local town that agreed to host their event, on the pretext there was no alcohol and a deposit was put down. They got an 18 year old member of the school to sign and put the deposit down for them.
They then successfully marketed the event through their younger friends to their friends and then to other schools from there. They also put out some snazzy well designed flyers, which I suspect roused some interest. They then proceeded to take a flood of ticket sales, which pretty much sealed their success from there. With the tickets sold they knew they were going to have people attending.
Another coup that they managed to collect was the fact that one of their older friends was a relatively well know DJ meaning that they could get all that for free. This resulted in quite a large profit margin after holding only a couple of events.
They managed to take home approximately £80 after their donation to charity.
I think their success was mostly down to the better accountability, better organisation and a more consistent leadership. Along with a leader who had a clear strategy.
As a result they made a profit, which they well deserved. I think the ethos of our group which was "leave it until the last minute" in our case didn't help.
A good team with a clear sense of direction won the day.
Until next week, when I might write something on what I learned.
Thanks for reading!
