Starting a New Business

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The main reason of most investment is the investment returns. My friends and I are thinking of opening a school back home after I finish my master in Special Education. Marketing is very important for any business. Social media play a big role in marketing these days. We are thinking of how much will it coast for the building, the utilities, and marketing etc. Were should we locate it and way. What is the expected income of this business, and will the income covers the expenses. At the end of the year we will distribute a survey to the parents and the students trying to develop the school. We will be always in-touch with the parents also, we will make it easy to contact the school or the teachers by phone, on the website, and email. We will open a Facebook page, YouTube, and Twitter, were we will post the student activities, the school goals and plans. These things we are planning to do come under the soft ROI. Majoring the soft ROI is by monitoring how many people sing in the school pages in the web, how many writer has write about the school; also, how many parents has registered or transferred their children to our school. Majoring the budget that we spent on the investment and the income of it; also, the increase of student number in the school are an example of the hard ROI .

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1 Comment

  1. Alanood,
    First, kuddo’s on your entrepreneurial goals. And this is a good post.

    When putting together your strategy for your school, keep in mind geographic and demographic expectations and limitations. So this will determine the extent of your social media campaign to enhance engagement with the parents and students of your school.

    When developing your strategy, incorporate into your financials expected income short-term and long-term. Some of the long-term may come from developing soft social media campaigns, levels of engagement and not so much how to measure, but what to measure and how to convert based on the decision to buy process.

    A lot of your short term and quick income can come from grants, donations and campaigns that create community but also generate revenue.

    While you are thinking of using Facebook, YouTube and Twitter, also consider reaching out to some organization that can provide Public Service Announcement (PSA’s) that can include your organization. Every strategy still needs to be a good and strategic mix of both traditional and social media strategies for optimum visibility of your cause, brand and more important revenue generation.

    Again, very proud of you and nice post.

    Like

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