7. Event Management Made Easy
Financials
• 20% monthly for first two years
Projected Traffic Growth Rate
• $4.35M after two years of operation
Net Profit
• $200,000 for 10% equity
Seed Capital Requirement
• Engineering, Marketing, Legal
Usage
8. Event Management Made Easy
Thank You
info@fusebed.com
Steven Grinberg & Siva Buddharaju
Editor's Notes
Hi, I’m Steven Grinberg, Im a Brooklyn native with over 10 years of professional IT and project management experience, including technical sales and presentations. This is my second venture, the first being an outlet for pro audio/video equipment. Im working with my partner, Siva Buddharaju, who has a masters in electric engineering from Purdue Uni and has held a number of technical managerial positions.
So, a while back, I was looking to get into jogging and I wanted to do it with others that were at my level, in my area, and at the times that worked for me, which changed day to day. Aside from posting a weird ad in craigslist, my only option was to check meetup, but there I could only find groups with pre-scheduled meeting times and locations. This made me wonder about our approach to events and ways to enhance the overall experience for all participants. I thought of Fusebed, which is a web-based event management platform that is being introduced as a social calendar, allowing users to create, share, and find events.
But how do we differ from the thousands of other solutions, including google calendar, eventbrite, or facebooks event module, which do certain aspects of digital event management, but don’t lead the industry?
We have three primary differentiators:Easy and flexible invitation management using a set it and forget it method to send invitations for your events to others regardless of their network or communication preference. So, your facebook friends might get invitations sent to their facebook page, your family might get texts sent to their phones, and your colleagues might get emails.Event tasking, which allows you to list and assign necessary items or services for the event to your invitees as well as individuals or organizations offering those necessities. This introduces a peer-to-peer economy and affiliation opportunities.Finally, businesses in the area of your event would be able to provide the participants with hyper-local, non-intrusive, and complementary advertisements, which will be our primary revenue stream.
Lets see these in action. Rita wants put together a BBQ for family and friends. She knows who she wants to invite and what is needed.She creates the event by first giving it a title and brief description. Slide5.1: Show title, desc, invitationsThen she invites all the participants from her address book, where the preferred communication method is already set for each person.Then she begins listing the items the BBQ needs. Slide5.2: show venues with added optionShe finds a park under the venues section, which takes her location into consideration when offering suggestions. A link to the parks and recreation site is provided where she can get permits if she needs to.She doesn’t own a grill, so she enters that as the next item. She sees that there are two individuals in that area offering their grill for a small fee and they have good reviews from others that have dealt with them in the past. She also sees a shop offering to rent a large grill with set up and break down options for a higher price. Slide5.3: Show grill and chicken items with detailsNext, the food. Chicken! She decides to pass the chicken duties off to her sister, Claudia. When Claudia logs into Fusebed, she accepts the invitation and sees her assigned task. She lives in another part of town and has deals from her local market offered to her.Rita completes the creation and management of the event within a few minutes.Leading up to the event, discussions are had on the event page, changes are made to some of the necessities –they went from chicken to steak. Slide5.4: Show discussion boardFast forward: the BBQ was a hit! Clean up is done and a few of the folks want to go get drinks. Some of the bars in the area created unique deals specifically for this event’s participants. They were alerted that there was an event in this park with 10 people over the age of 18. The BBQ attendees go to the event page and see, under the suggestions section, several non-intrusive, complementary, hyper-local ads customized just for them. Slide5.5: Show suggestionsThis approach can be applied to any event, personal or business, and easily scales to the size and complexity of the event, whether it’s a movie outing for 4, a wedding with 200 guests, or a 400 person corporate convention.
Early adopters will be social and outgoing, tech-savvy, people between the ages of 18 and 30. These are the individuals the will use fusebed for pub crawls, for group travel planning, for business lunches. These are the people that will introduce fusebed to the next customer segments.There are several steps that we'd need to take in order to capture this market. First and foremost, execute a strong search to social marketing campaign that focuses on awareness and user-base growth. We also need to ensure there exist highly desirable events for new users to find in their areas, which we are doing by partnering with venues, promoters, and providers of relevant information. Finally, taking a page from facebooks initial days, we are targeting college students for their event needs by putting into action a plan of hiring marketing students in key schools to spread the word about fusebed within those schools then train and manage students from consecutive schools to do the same.
We believe this marketing strategy will produce a 20% monthly growth rate for the first two years and, with proper funding, will allow us to be profitable after three years of operations, reaching $4.1m in net profits. We’re asking for $250,000 for 10% equity in the company, which we will use for engineering, marketing, and legal counsel.
Fusebed offers a world of events, please join us in exploring this world together
