Class Library The Offshoot Dilemma: Should You Offer A ‘Lite’ Version of Your Business?

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  • Title:The Offshoot Dilemma: Should You Offer A ‘Lite’ Version of Your Business?
  • Category:Business
  • Level:Intermediate
  • Instructor:Sean Low
  • Length:55 min
  • Posted:9/10/2012
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Overview

At some point, almost every event business considers offering a scaled down, lower priced version of their core offerings.  The pressure for revenue, and to stay competitive, drives you to explore venturing beyond your sweet spot, whether it's 'day-of' coordination services, or going after smaller clients or events.  In this class Sean will discuss the key factors to consider, and how such offerings could impact your core business.

Learning Outcomes

    1. The key factors in determining when and if it is smart to start a 'lite' version of your business.
    2. How to use 'lite' business service options to exemplify a full range of talent and highlight the strengths of your core business.
    3. What you can charge in relation to the marketplace and find out how long before your 'lite' version can stand on its own?

Table of Contents

Watch the Full Class Without Chapter Breaks
The Off-Shoot Dilemma-FULL VIDEO 54:58
The Off-Shoot Dilemma: Should You Open A 'Lite' Version of Your Business?
Introduction & Audience Polling 2:03
Factors to Consider With A 'Lite' Version 7:42
How Core & 'Lite' Versions Can Support Each Other 3:28
How Much of A Premium Can You Charge? 3:48
Getting to Scale 2:54
Q&A
Thoughts on Day-Of Planning 10:57
Risks When the 'Lite' Version is Your Junior Staff 8:07
Should You Separately Brand the 'Lite' Version? 6:48
Examples of 'Lite' Versions that Work Well 7:29
Pricing & Accounting Implications 3:08
Downloads
PDF of Slides from This Class 15 Pages
ELI

The Certified Meeting Professional (CMP) is a certification offered by the Convention Industry Council (CIC), an umbrella group comprised of 30 organizations. As part of the application process for the CMP, candidates are required to log a minimum of 25 Clock Hours of approved education. If you see the CMP designation next to a given class on this site, it indicates that class has been approved by the CIC to count toward that educational requirement, for the designated number of clock hours. For more information go to www.ConventionIndustry.org.

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