The Tipbox: 5 Reasons To Not Make A Big Launching Event - Ideabox

Many startups make the mistake of making big launching events instead of small ones. Unlike big corporations like Apple, Google and other Silicon Valley big shots, most startups don’t have the resources to use for launching events. Here are the five reasons why you should save your capital and go for a soft-launching event instead. 1. The event should match the size of your startup. It wouldn’t make sense to make huge event for the launching of a startup. Why doesn’t it make sense? First, investors would not dare to fund your startup after the event as investors know startups often do not have the capital to spare for a big launching event. By having a big launching event, it will signal to the investor that the founder team is not good at spending their capital wisely. Second, partners and distribution channels will not take you seriously because the size of the event doesn’t match the size of your startup. Often companies that make big launch events are big corporates that are promoting their new branch of their company or their new product. If your startup is not backed by a corporate who is pushing and sponsoring you in creating a big launching event, then you should stick to making a soft-launching for your startup. 2. Keep it small, as there is still a chance that your startup may pivot. The next reason why you should do a soft-launching rather than a big bang event is that there might be a chance that your startup may pivot midway. Unless you are already making revenue and have a big user-base, there will still be a chance for your startup to pivot. If you already publicize your startup with a big launching event, then pivoting would be very difficult. 3. Postpone the big launching to when your startup is already stable and making revenue. Supporting the first reason, always make the launching event as big as the size of your startup. Unless it’s a marketing event where you are sprinting to get traction, there is no need to spend big capital on an event unless your startup is already stable and revenue-making. In addition, if your startup is not stable and have not met break-even point, making a big launching event will reduce the life of your startup. Always allocate your scarce resources efficiently in order to optimize your operation of your startup! 4. Don’t waste capital on one event unless your startup is already making profit. Never put all your eggs in one basket. This rule applies even in business. When making an event you have to first set a KPI in what you want to achieve by hosting the event. Is it for PR purposes or is it for marketing purposes? Will it bring more traction to the startup? Will it bring more revenue to the startup? Is it wise to host the event? Is your startup ready to host the event? Is the event necessary? These are all of the questions you have to answer before making an event. Unless your startup is already making profit, your startup cannot afford making a failed event and an event with no KPI. 5. Take advantage of the soft-launch by making it an intimate event with your current users in order to build a relationship with them. Never underestimate a soft-launch event. Although big launching events are extravagant and project the luxurious image, it might not suit your startup currently. There are many advantages in hosting a soft-launching event rather than big launching events. First, you can build a relationship with your current users and make them a loyal customer. Second, you wouldn’t have to spend too much capital. Third, you can use the event to get market validation for your product or service. You cialis online can ask your users what they really think about your products and services and what your startup can do better to improve it. There’s always something positive in all situation, you just have to find it.     Here are some related articles that may interest you. 5 Types of People You Need to Have in Your Founder’s Team 5 Characteristic of A Successful Entrepreneur 5 Things You Need to Create Your Dream Startup 5 Ways to Meet Your Potential Co-Founder(s) 5 Traits to Look For in Your Co-Founder(s)

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Published on April 28, 2016 | Uncategorized | All rights reserved by the author.