The BrandPreneur Challenge
"Have car, need driver" -
A 3 month program for aspiring entrepreneurs who want to test their mettle building the brand of a cool new app. Think of it as a kind of pre-fab entrepreneurship program.
While many entrepreneurs are hard pressed to come-up with sensible business ideas, Ralf has the opposite problem. That's what led him to start more than 12 companies since 1982.
What does it cost to take part in the challenge?
There is no cost to become a BrandPreneur - rather it is a question of who will be selected. During the 3 month cohort time every BrandPreneur will have a $30,000 budget to run the brand in startup mode - meaning decisions have to be made on a budget that isn’t just marketing but includes things like rent as well as development costs etc. - just like a startup. That’s your fuel.
At the outset each BrandPreneur will be developing a plan of action with milestones. This includes enhancing and modifying the product as necessary and above all marketing it as effectively as possible. How well you manage your budget will be an important area of focus for the show.
“The whole point is to create a kind of startup experience on steroids where the BrandPreneurs are getting into an already moving vehicle. A pre-fab startup you could say. Their challenge is to see how far they can develop the product in a limited time period. The app becomes the game ball. App downloads are the ultimate measure of success and every BrandPreneur will receive a 50% revenue share of their brand up to $30,000 for 1 year after the end of each cohort.”
What makes the BrandPreneur Challenge special?
Unlike typical startups the BrandPreneur Challenge already has a vision and app which embodies the vision. The goal is for the BrandPreneurs to successfully grow the market for their app taking advantage of the distribution power of the iOS AppStore.
All BrandPreneurs will receive mentorship directly from Ralf during weekly meetings at CrossCampus in Santa Monica.
We will be building a complete business plan with milestones for every project. Unlike most such plans, ours really will be your guiding blueprint.
All BrandPreneurs will be working out of Cross Campus - a co-working space in Santa Monica, California for the duration of the program.
You're on NextPitch.tv
We want to share the BrandPreneur experience with the world through a NextPitch.tv video podcast. The show will focus on the respective challenges facing each project and how the BrandPreneur decides to address them. Thus all of the mentoring meetings will be video recorded and profile videos will also be made.
From a financial perspective each BrandPreneur will receive 50% of the profit generated by their app for 1 year after the end of the challenge or until $30,000 has been reached.
Since funding is not the issue the plan worked out by each BrandPreneur will act as a roadmap with significant milestone targets. Think of it more as a pitch deck that asks the usual questions - what’s the problem, how is it being solved, is there a market for it, who are the main competitors, how do you best market the product and above all, what’s the best way to monetize it. We have developed a special software solution for use by the BrandPreneurs to quickly create their plans at the beginning of the program.