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My daughter was getting a little despondent the other day about her university studies and how boring they are. She’s a first year student studying business related subjects such as accounting, marketing and economics. Not surprisingly, her lectures sounded about as interesting as downing a plate of brussel sprouts (not that I'd let her know that).
Other than telling her politely to “suck it up princess” and get on with the studies I began to think of another solution that could be quite interesting for us both. She only has classes on 3 days a week so that gave me 2 week days and a little of the weekend to teach her about what business really means.
So what are we doing? After a great discussion with her she has agreed to learn from the “old man” what it means to be in business for real. Our first project together will be to build girlmedia.com into a real business. Right now, the domain is not even parked and there’s not much happening.
This is the order that we will be working together and I have her permission to blog on the journey.
1. Develop a financial cashflow – rudimentary one is now completed.
2. Put together a business that contains the following items:
a. Financials
b. Marketing
b. Marketing
i. Promotions
ii. Market analysis
iii. Products
iv. Traffic acquisition etc.
ii. Market analysis
iii. Products
iv. Traffic acquisition etc.
c. Technical plan
d. Project schedule
d. Project schedule
3. Develop the site in line with the business objectives.
4. Market the site with a budget of $0.
5. Goal is to get to the first dollar of revenue as fast as possible.
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