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Consulting project in Action Project before graduating master of Social Entrepreneurship.
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INCUBATOR PROGRAMAffordable Professional Services for your Growing Business
Christine Hermoso | Jacquelyn Pinckney | Jankiel Rosenwald | Sovanlyna Phin |Claudia Vargas
Ever wonder what the business incubator market size is?
1,250 incubators in the United States,
worldwide is about 7,000
93% are nonprofit organizations
6% on service businesses, serve niche market
37% on technology business
focus on economic development
3% serve manufacturing firms
12% from California
Source: NBIA
13% 37%
116,000 low income to extremely low income
With more than
households
….and the needs?
San FranciscoBay Area
California
Nonemployer Business Incubator
Source: census.gov
Mission History Office
Transforming Lives through Entrepreneurship
Empower the entrepreneur capacities through the creation
of sustainable new businesses, new jobs
1985 Found1990 Launched 1st non-profit business incubator2003 Expanded to serve 30 small businesses
SOMABayviewPala AtoMarin
96% 40% 58%
The client’s median gross revenue
$60,000in business
IMPACT STAT
full time 7,500 business
launch, grow & succeed
Graduates remains in business
Graduate create two more jobs
Clients operate a business
BUSINESSMODEL
PARTNERS
REVENUE
KEY RESOURCES
VALUE PROPOSITION
CUSTOMER
CUSTOMER RELATIONS
CHANNEL
. CLASS/ WORKSHOP
. RENTAL SPACE
. INCUBATOR PROGRAM
. CONSULTANT SERVICES
LOW TO MODERATEINCOMEENTREPRENEUR
. WORD OF MOUTH
. ORIENTATION
. EVENTS
AFFORDABLEPROFESSIONAL.
DIVERSITY
.ACCESS TO NETWORK
. ONE-ON-ONE
FACILITYBUILDINGCLIENTSLOCATION
CO
ST. S
TAFFING
. SERVIC
ES
. WEBSIT
E
BUSINESS ASSOCIATION
COMMUNITION GROUP
FINANCIAL ADVISORS
REFERRAL NETWORK
KEY ACTIVITIES
Market Research Journey
…gaining the beneficiaries’ perspectives
The Entrepreneurs’ Voices60% know through Referral
100% attend one-on-one consulting sessions
60% feel satisfied with the services
80% rate workshops above average of their expectation
What do clients think about Renaissance
Open, inspiring, helpful, calm,
creative, multi-dimensional,
friendly, supportive,
politically correct, encouraging
• More extended network
• More specific help rather than general help
• Ways to engage incubator with communities
Culture? Areas of Opportunity?
How entrepreneurs find a business
incubator program?Facebook
Business AssociationFriends
SWOT
Potential network
opportunities
Professional services for low income entrepreneur
s
Job creation
Successful graduates
Effective channels for clients’ needs
Address target market properly
Marketing Resources
Alignment with the Mission
Social media as a bridge to
the target audience
The Perceived Reputation
Business Diversity
Market brand & services more
Outreach the target
Competition with
complementary services
S
W
O
T
Areas of Opportunity
How to promote the incubator program to
outreach to the target audience?
How to increase the effectiveness of the
incubator program?
How to create and engage
with the community?
to raise awareness of Renaissance SOMAIncubator program among the Entrepreneurial community
to outreach to our target market and other partners
to improve relationship
with current and potential clientsas well as with the alumni
to have consistent marketing management
Renaissance’s Expectations
1.
2.
3.
4.
How?
a great Marketing Strategy
Deliver the key message
Create eye catching Marketing collateral
Build up a 12-month Marketing plan
Utilize communication channels
what we came up with…
Transforming lives through entrepreneurshipRENAISSANCE ENTREPRENEURSHIP CENTER
RENAISSANCE INCUBATOR PROGRAMProfessional affordable services for your growing business
A snapshot of the Marketing Plan
Flyers in coffee shops & Social Media
promotion
Build a strong brand &
network – Event where
alumni, client & community
meet
Quarterly occurrence
OPEN HOUSE pilot program
Partner with schools to create a new building image –Academy of Arts, College of the Arts
Innovative Ideas for the 1st floor, a
concept to attract more of a coworker
environment Promote the Incubator Program from the
outside, WINDOW AD
INTERIOR DESIGN
CONTEST
The Renaissance Prize
Graduate Seal “A product of Renaissance”
PR STRATEGY
Leverage Alumni Network
Thought Leader, as an ambassador
Training program for partners’ personnel – FAQ
Create Facebook Group for current clients and alumni as a way to interact and stay connected
Link account with Facebook and tweets will automatically be
updated
Update regularly
Encourage people to write more reviews
Create an account and update activities to engage communities
Blog their successful stories and share them with other channels to get more
interaction.
SOCIAL MEDIA
an overviewAugust
SeptemberOctober
November
December
January
February
March
April
May
June
July ✪
★★
⌘⌘
§
★★
§
⌘⌘
✪
Open house
Gala night
Sales week
Business class
Inferior design contest
⌘⌘
⌘⌘
⌘⌘
Metrics dashboardReach out to 120 potential target entrepreneurs
Outreach to 2000 people engage in interior design contest
Engage 36 partners to reach out to 5%
Save 7h/week for 6 months = 168 working hours
1.
2.
3.
4.
in which 10% may become Renaissance’s clients
more potential clients
5% may join a business incubator
Establish a strong community engagement
5.
Action Project Metrics
7Meet up groups attended
9 In-depth interviewees
4 Meetings with clients / 1 per week
305 surveys sent out
2 visits to Bayview and Marin office
What worked
What did not
Time-constraints due to a short-term project
Not understanding clearly entire constrain faced by the client organization
Having a limited resource and network for survey
Fixed schedule meeting every week
Clarified client’s concerns from the beginning and throughout the process
Constant constructive feedback from clients on work completed.
Client considered our recommendations and has a Marketing coach to work with the Renaissance Center for the next 6 months.
Agreement from Assistant Dean Tim Payne on instituting an internship program with Renaissance next school year
Reaching out & growing businesses rooted in communities