Global Student Entrepreneur Awards
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Transcript of Global Student Entrepreneur Awards
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globalglobalstudentstudent
entrepreneurentrepreneurawardsawards
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the dream
• connect composers, artists, and musicians
• support development of local and regional Christian music
• reach an international audience
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humble beginnings
•originally a sheet music publishing company
•capital: $216 (owner invested)
•1st year operating expenses total less than $1,000
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redefining a business model
•larger local market in Christian music CDs
•e-commerce site capable of selling virtually anything
•same desire to help promote and discover new music
...or, “so we can sell anything?”
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expansion and growth
• aligning with an Austin recording studio
• teaming up with local non-profits and charities
• focus on providing artists with a “menu” of services
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crunching the numbers
•first year sales: $124
•second year sales: $587
•2008 ROI of 1,900%
•150% growth until 2010
•50-75% thereafter
Projected Sales
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spreading the word
•word-of-mouth & referral marketing only
•less than $150 spent to-date on marketing (mostly indirect)
•2009: PR attention, mail-outs, eBay store, social networking
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in the community
•Christ Unites
• AboveGrounds Austin
• Praise in the Park
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growing pains•growth while focusing on graduation
•scaleable but at a cost
•plans for office space by early 2010
•eventual split of HCM: web design/printing & music publishing are main sides
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what the future may hold...
•RIAA responding to drastic changes in music industry
•HCM to help redefine industry
•focused on growth in multiple markets (music, small business, etc.)