Every year, hundreds of Start up businesses get the loan they need to promote their innovative ideas. However, very few of these businesses make it after a few years they kick-start their business. Some of these problems can be attributed to lack of funding, recruiting the wrong people, focusing on money rather than value. It could also be that the investors were no longer interested in the business idea. However, could having a project person or team with quality business insight be the ‘Miracle’ the business needed?
Strategic Management requires been intent on your business goals, the value you bring and the approach as well. For example, when COURSERA first launched in early 2000, the platform offered the different courses in computer coding, business management, economics, business writing on anything at all. Although, it was funded by a lot of organisations, one of which was the World Bank. Today, Cousera has over 22million users. After about 3-4years of allowing free learning, they started charging as much as $100 Dollars for each complete course. At the end, you can get a certificate from the accredited University Cousera is in partnership with.
Would you pay Cousera or A Personal Strategist?
So, was this project thought through from the beginning? Yes, it was thoroughly planned out from the business point of view, value creation point as well as sustainability. They knew in order to ensure sustainability at some point they would need to stop writing several proposals to get the loan or fund like they did in the past. Imagine the partnership COUSERA has with other businesses and universities now, one advert space 22 million people. Apart from the wide audience, the platform has, a lot of schools are using the platform to encourage their students to further their education both real-time and online. In October 2016 COUSERA launched a monthly subscription for the users in order to reduce the cost of paying per cour. If you can immerse your self you could get more than one certificate depending on how you manage your time. (I am not sure if you can enrol now for more than one course at a time now) 2 years ago that was possible. And guess what also! There is a BITCOIN technology course, yes you can learn how to trade BITCOIN (As your investment risk).
The moral of the story is, no great business or project happened overnight, for a project to be successful it requires detailed planning, assessing risk and the mitigating risk factor that may arise once the project starts.
Have you thoughtfully planned a project, event or business this year? To achieve success it requires quality planning and dedication.
Do you think you need a project person in your business, feel free to share your thoughts?
Categories: Business Lessons