Event Management Industry is one of the most happening industries in today’s scenario. Q square Events, an event management company based in Tirur, Kerala is being run by the energy of a bunch of youngster- Arshad Waiz, Mohammed Shahal, Aslam Kallingal, Mohammed Akhil, and Fawaz Mohammed Ali.
They explained in brief the stages of business and how it happened to be an Enterprise.
Start up: This is budding phase of business, wherein your business concepts are launched. You must get through pre-launch by managing enough funds to prove your business concept. Once, the pre-launch is done you must build, design, test your product. Last but not the least marketing force must be very aggressive in reaching out people and educating them on the products. The basic concept of a Start-up is to prove your concept and achieve better cash flow without running out of funds.
Build-up: Now, that you have gone through rough patch and beaten the odds. You must explore and identify few large customers so that your business will keep going long enough to overcome the challenges of cash flow management and distribution management.
Build-out: Now, that your business is almost an enterprise; you expand your branded products in other markets. This will reduce your dependency on any single buyer. In this phase of business Sales force must brainstorm things and conquer the market.
Enterprise: An Enterprise, you have achieved a brand. You start getting more enquires as you have brand recognition. Next challenge is manpower planning. It is also called Human Resource planning. It involves putting right kind of people, right number of people at the right place, at the right time.
They say they are inspired by this “Your most unhappy customers are your great source of learning”- Bill Gates
The young enthusiastic boys are working hard for their brighter future. Need such passionate guys to make our country proud. Thanks for reading!