THE BIG MUSIC BET-STARTUP LAB
During this semester, we have the honor to be introduced to the music startup ecosystem and have the opportunity to be a part of a bigger innovative challenge ‘The big music bet’.
With the valuable guidance of our mentors Betty Tsakarestou and Domnika Skreta , we learn how to develop a solution, that responds to people’s needs, and transform it into a sustainable business form.
Conducting a research on the greek music industry, we found out that:
In the booking field, which is a trend in the last few years, there are a couple of digital booking agencies where business owners or event managers are able to hire a band for a professional cooperation. (https://stagebands.com/) & (https://bookaband.gr/).Furthermore, there is not such a service for individual customers, who need to book a band for a special occasion of theirs (e.g. wedding reception, celebration, party).So, we took advantage of this market gap in order to set up our own business, focused explicitly on booking bands from an individual customer perspective.
In the next step, we contact with some potential users(individual customers) and potential customers( bands). Bands said that they have problem with finding available customers because their unknown to the market and they need to increase their revenue from live events. On the the other hand, individual customers told us that many times don’t know how to find any available band.
Next, we think to build, as a solution, a digital booking agency on which you can book a band for an event. by In order to evaluate the idea, find the gains we offer to the users and create a more organised business plan we create a business model canvas.
EVENTURES
So we decide to build A digital booking platform on which you can book a band for an event. We give a solution to the bands that they are unknown in the market and they don’t have a list of potential customers by connecting them with the market and potential customers.
On the other hand, we help individual custumers who searching for bands in order to play live music at an event, by giving them a list of bands and their availability.
Here you can see a link of our website:http://eventure.tilda.ws/
We decided that our startup revenue will consist of Subscription fees(only from the part of bands) and advertising revenues.The first month will be on a free trial where the customers will get a free sample of our services. This way, we will have a greater chance to convert them into legal customers.
As part of our strategy we decide to reach our customers by using social media.
On the Instagram account, we have reached 66 potential customers so far.
On the other hand, on the Facebook account, we have reached 20 potential customers so far.
Me and me team prepared a presentation in order to explain further our startup idea and the background beyond it. You can see the presentation, by clicking at the link bellow.
https://drive.google.com/file/d/1YxfF_VuemUCIWy6GouOD3xSU6UA1iTgX/view?usp=sharing
Our team ‘Suspicius minds’: Raphaela PanayiotouANNA LAMPROU Vlasia Manteska Alkistis Joan
Special thanks to our mentors Betty Tsakarestou, Domnika Skreta
