Business Plan

    Below you can find the key components of our efficient business plan

    Table of Contents.

     

    Identity

    Agency M–1 integrates business students at the Mike Ilitch School of Business with the small and mid-market business community in Detroit, Michigan to manage the online, digital marketing, sales, and service for their organization. Agency M–1 will ask the MISB to offer professional or executive education courses to organizations and their employees.

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    Problem

    Students need practical experience in real life situations to apply their education and skills.

    Businesses need enthusiastic ideas with a fresh and relevant

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    Our Solution

    By bringing the student organizations of the Mike Ilitch School of Business together with their specific skills and education, the small and mid-market businesses in Detroit, Michigan have a resource to grow and scale their business at minimal or low costs and students begin building their professional portfolio for post-graduation.

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    Target Market

     Small to mid-market business, owned by women and/or minorities within the Detroit, Michigan area.

    Value Proposition

    Competition

    There are large digital marketing firms, as well as freelance and individuals that provide services, but none that are affiliated with the Mike Ilitch School of Business or that have access to HubSpot’s enterprise access software.

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    Revenue Streams

    Grants through private and corporate sources. The HubSpot grant renews annually in July.

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    Marketing Activities

    To Be Determined by the CICO and CMO

     

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    Expenses

    To Be Determined by the CFO

     

    Budget cut

    Milestones

    Phase 1: Agency M–1 will begin with the integration of the student organizations supplying their leadership to serve as a part of the Board of Directors and offer collaborative events and opportunities for the student body.

    Phase 2: Once the structure is in place, M–1 will communicate the availability to small and mid-market businesses through the WSU Alumni Association, Detroit Small Business Network, www.DetroitStartUpWeek.com, and through the networking availability within the MISB.

    Phase 3: The students (undergrad and graduate) will have several opportunities to volunteer, gaining exposure to industry topics and networking through:

    • Professional and executive education,
    • Courses and certifications to small and mid-market business owners,
    • Providing professionals within the business community attendance on a sliding scale cost schedule made available in collaboration with corporate sponsors.

     

    Team and Key Roles

    Advisory Board:

    Faculty Advisor: John Heinrichs.

    He will appoint three additional WSU/MISB faculty and/or administrative persons to serve on an Advisory Board to have oversight of the Board of Directors and the final decision on the Chief Executive Officer of Agency M–1.

    The Chief and Executive Team will be selected by the Chief Executive Officer and with the advice and counsel of the Advisory Board and faculty advisor. Positions will adhere to the By-Laws of Agency M–1.

    Currently roles include: Chief Operating and Content Officer, Chief Marketing Officer, Chief Financial Officer, and Executive of Growth Strategies, and Executive of Human Resources.

    Each Chief officer will have a team with delegated areas and tasks for each student organization and/or business client.

     

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