I am interested in making an online game to teach people the basics of running a company. I see this as a new, cool way to learn about entrepreneurship by doing something than just reading about it from a book. I need your help to make it awesome and figure out the game dynamics. Please share your thoughts in the comments.
Here’s how it works so far (as a player):
You start by creating a virtual company - you can give your company a name, add a small description to it, upload a logo and decide what things you want to sell to other players.
Every-day you get a fixed amount of virtual money (Eg: 100 Krons) that get added to your account. You can make more money by doing certain actions such as completing your profile, competing in championships etc. but the biggest way to make money is by selling stuff to others.
To sell something (and list it as an offering of your company) you need to buy a production machine - The cost of a production machine varies according to daily production capacity, lifetime and the quality of goods it produces. The better the machine the more expensive it is (and higher the production return). You need to sell all the items before the lifetime value expires.
Eg. A machine that creates books costs 1000 Krons and can create 5 books a day and expires after 100 days. Each book sells for 5-10 Krons. Profit ranges from 2500 to 5000
Buying something from another vendor you a return. The return is determined by the price of the item you buy.
Eg. A book for 5 Krons gives you a return of 0.125 Krons per day for 100 days. That’s a profit of 7.5 Kronos.
A community notice-board facilitates interaction - you get to promote your company, do flash discounts and offers, promote interaction etc.. The more sales you make, the richer you get, letting you buy better stuff for cheap and make smarter investments.
Beyond a point, you need to subscribe to play. Subscriptions let you earn points faster, and give you tickets to participate in paid competitions. These can be things like fastest growth in x days, most amount of items sold in a fast sale etc.
Do you want to be part of a major industry that is growing worldwide? Open an event management business. Nowadays, almost everyone from high-income individuals to large corporations hires event management businesses to conduct everything from birthday and wedding parties to exhibitions and international conferences.
Facts & Figures
In fact, now is the best time to start an event management business. Worldwide, event planning and management industry indicate a 10 percent Compound Annual Growth Rate (CAGR).
Experts project event management will become a US $8.5 billion industry worldwide by 2023.
In India alone, projections are, the event management industry will cross the Rs.100 billion figure by 2021.
This means, there’s ample scope for everyone to become part of this booming industry.
Surely, you would dream of becoming part of this very profitable industry. But, do not have enough money to invest.
Fortunately, money needn’t be your problem to start an event management business. Surprised? There are several ways to start an event management business with no money. And they actually work.
Here I’ll explain in simple steps how to start an event management business with no money.
Starting an Event Management Business without Money
The very first step is, identifying the type of clients you can offer event management services. Obviously, this would depend a lot on your location. If you live in a large city, there’s a demand for grand birthdays and weddings to corporate events.
Select an event where you can provide services without zero or minimal investments.
Step-1: Identify Your Events
You would most likely be working with some industry to have sufficient knowledge to understand what types of events they conduct. Here’s a list of common events you can refer when you want to start an event management company with no money.
Family events such as birthdays, anniversaries and baby showers.
Corporate events including local, regional, national and international conferences.
Exhibitions and sales conducted by trade organizations to create awareness and promote products and services of their member companies.
Entertainment events such as movie launches, live music concerts, beauty pageants, and DJ parties as well as cultural shows.
Sports event like local and inter-city contests, inter-state competitions, national games and grand international events such as Olympics, ICC World Cup Cricket, FIFA Soccer World Cup and others.
Local promotions of products, services, brand awareness campaigns conducted by small to large businesses, automobile makers and healthcare providers, among others.
Educational events conducted to enroll students for various courses provided by different schools, colleges, and institutes.
Career events which are mainly job fairs, recruitment drives and mass registration of prospective employees for a company.
Charity events such as fundraisers for disaster victims, senior citizens, orphans and victims of HIV, AIDS and other dread diseases. These can also include marathons, walkathons, and other sports-based events.
Tourism roadshows organized by foreign countries, states in India and cultural organizations.
Political events that are regularly held by various parties to generate vote banks and find strong support for their cause or manifesto.
Funerals and mourning, which is one of the growing business in India nowadays, held by bereaved families in memory of someone that has passed away.
Religious events held to mark a festive season or festival, the opening of a shrine or major pilgrimage.
Finance & banking related events such as new customer registration drives, consumer awareness, open-houses for grievance redress and related issues.
Step-2: Know Your Strengths
The next step is to know your strengths and capabilities in event planning and management. Since you are starting an event management business with no money, it might not be possible to offer the entire range of services that customers need.
But that’s barely anything to worry about.
Make a list of services that you can offer to major event management companies. It’s worth remembering, every event management company on this planet outsources various services from smaller providers.
The reason is simple: No events management company can afford a permanent infrastructure. Events are held at different locations. This means event management companies cannot carry the infrastructure to various places.
Usually, these event management companies will outsource from local businesses only since they are familiar with the area.
Step-3: Offer Support Services
Usually, everyone that starts an event management business with no money begins by offering services to larger event companies. And preferably, you should do the same. Because it requires zero or very minimal investment. Here’s a list of event management related services that you can start providing before launching own business.
Meet-and-assist services at the airport, railway stations and bus terminus for delegates and other invitees attending a very large event.
Visitor management including issuing passes or tickets to people that wish to visit an exhibition or other events. Getting online registrations, follow-up with prospective visitors.
Press & Publicity by writing and sending press releases to newspapers, organizing interviews with key persons attending an event and creating general awareness about the event, assisting journalists and ensuring maximum media coverage where possible.
Labor contractors for events also make big money. All events require workers to perform odd tasks at the venue. This can include anything from fixing banners and posters to minor carpentry or serving beverages. You can provide such labor for major event management companies for large events.
Floral decorations are an essential part of any event. If you are creative and can make excellent designs with flowers, take one or two helpers and offer such services for any small or large event.
Helpdesks: Every event usually needs a helpdesk. This is an excellent opportunity to use your interpersonal skills and provide information to visitors to an event. This is also a service that large event management companies outsource from smaller contractors.
In fact, there are no shortages of services you can provide to large event planning and management companies that are conducting some event at your location.
Starting as an event-related services provider has three benefits. Firstly, you gain firsthand experience in conducting similar events. Secondly, you make contacts that will prove vital when you start an event management business with no money. Thirdly, you can make money that is necessary for basic funding to start an event management business.
Step-4: Getting Started
Now that you have a network of sorts and some experience, it is much easier to start an event management business with no money. To do so, advertise your services like event management business at banquet halls, religious places where ceremonies are held, small businesses that cannot afford large event managers and community organizations.
This is the most important phase to start own event management business with no money. Therefore, follow these simple steps,
Start Networking: Develop excellent contacts with banquet halls, caterers, florists, and every other supply necessary for your event management business.
Get Leads: Utilize these contacts to get leads about various events and their organizers.
Build Creditworthiness: Though I rank it third, this should be one of your topmost priorities. Suppliers should be willing to provide credit for everything you may need when you start an event management business with no money.
Go Online: Regardless of whether your first event management contract was about labor support or funeral, get pictures and post online.
Invest on a website for your event management business and engage in some aggressive digital marketing to get more clients.
Start selling online, use online ticketing and event registration platforms to make your event tickets available online. on your website.
Where to post? Facebook, Twitter, Instagram and of course, the LinkedIn profile of your business.
Customer Feedback: Always get customer feedback: it helps know whether your event management business has some gray areas that need urgent attention. Good feedback helps boost morale while negative one enables service quality improvements
Step-5: Get Funding
There are essentially two ways to get your event funded by external sources:
Getting funded by a diluting your stake and selling out your company shares :
To do so, you will need an excellent business plan. You can write this business plan. Better still, hire a professional to write one- it increases chances of getting a loan or funding. If you intend writing a killer business plan yourself, refer to an excellent online tutorial.
Briefly, a good business plan needs to include details such as your profile and that of any core leadership team of your event management business, their expertise, core areas of operation, market projections, projected return on investment and other essentials.
Getting a loan from the banks :
Perhaps you are unaware, but running small businesses of all sorts can get loans and funding from banks and other lenders but keep in mind that it is an expensive way to get money as the banks charge a rate of interest for providing with those loans.
Getting Sponsors for your event -
As an organizer, this should be the most preferred way of raising capital to hold an event, yet it is one of the most difficult ways to raise capital. This is because you have to make business sense for another business to invest capital in your event. Here are a few tips to get sponsorship for your event a little easier.
Such funding allows you to expand the small event management business into a major player on the market.
Importance of Creativity
Every individual, family or organization look at hosting truly memorable events. Hence, you need to get really creative about the type of event you can offer. We’ve all heard about weddings onboard submarines and such stuff.
Creativity is the keyword when you wish to start an event management business with no money and keep it flourishing. A single memorable event can turn your fortunes from a small business to a major player.
As we’ve seen, it’s fairly easy to start an event management business with no money. In fact, thousands of people operate event management businesses as a side income. Others have given up traditional jobs after their event management businesses began flourishing. You too can become one such entrepreneur in the growing event management industry.
So there is this product that my family makes and uses that helps moisturize skin and give shine to your face. Basically its a anti-aging cream. Its also 100% natural. I was wondering if you guys have any tips on how to start that venture.
I was thinking of buying small containers from Alibaba and giving them out. I would first make homemade flyers giving a brief description of the product does and pricing. Your thought on pricing would help. It takes some time to make the cream.
We also have a few family friends that we gave the product to and their response has been great. I would probably use that as reviews on a potential website in the near future.
My main concerns are marketing and and coming up with a business plan. I'm using lynda.com to get information on that but any input would help.
An umbrella without the handle but instead a ducted drone attached to the top. It can follow the person and can hypothetically take wind speeds up to 20mph. Its basically a flying umbrella i don't know how else to put it 😂 let me know what your constructive criticism. Be as raw and real as you can. 😀
Hey, do you have a serious app idea that you want to build but don't want to spend a fortune on?
I own an app development firm based out of Bangalore. We usually undertake fixed cost projects and only build MVPs (minimum viable product). In the past we have built fully working front-end iOS apps for $500 USD.
You will own the complete ownership of your app and the source code. If you are interested to discuss a project and see my portfolio, hit me up!