Project on Entrepreneurial Venture

Added on - 21 Jul 2020

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ENTREPRENEURIAL
REFLECTIVE BLOGEntrepreneurs are known for taking risks in order to earn profit but at the same time,some of them, are trying to do something for society by using different ways (Bennett-Levy andLee, 2014). Recently, I worked on a project where an entrepreneurial venture, named Made inMarylebone, gave money and other essential facilities to homeless women. They are doing thiswork from a short period of time. This organisation is known for making and selling differentkind of food items and they used the raised amount in support those women who do not havetheir own home (Canagarajah, 2013). My team had 5 members and our main task is to raise moremoney for this entrepreneurial venture by creating a crowdfunding page. My team is full ofyoung energy and we were not ready to use old method of raising money. The idea of usinginternet and crowdfunding was given by our team leader because he had worked on similar kindof project earlier and raised decent amount of money.As a team, we decided that we will try to focus on attaining weekly targets in order toraise main objective i.e. 9999 pounds. ''One step at a time'' was the prime strategic thinkingwhich was in our mind. I was responsible for marketing and promotion of crowdfunding page.Out of many thinks, the most important lesson which I learnt from this job is that every thinkingof every person differ and they would never donate a single amount until they get assurance thattheir money is used in proper way. Assuring them that ''Made in Marylebone'' will use donationfor homeless women was a tuff task because most of the donators had never listen about thisorganisation. Raising money for new business enterprises is always challenging (Nesbit, 2012).Gaining trust of interest people is not easy but if correct strategy is used at right time then thiswork can be done in effective way. I provided authenticated data, photos and other informationabout money and other assistance which ''Made in Marylebone'' had provided to homelesswomen in past.When donators checked these resources then they did not hesitate in donating money andasking other to help. One can say that if a work is done with conviction than gaining desiredresult is not difficult. The issue if convincing people to use internet and donate money startedresolving gradually money of donators got increased. Trust is most important part of anyrelation. When faith of supporters enhanced then we saw a sharp increment in the amount ofdonation. Now, the biggest question is that “why helpers do not what to help homeless women”.Crowdfunding is a clean process and chances of fraud or cheating is very low if an organisation1
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