Microventure – Inside our mini-business

by Derrick Duplessy

Our Purpose Fellowship teaches the artists and entrepreneurs in the program how to run an enterprise through our micro-venture. Here is a brief description:

The Challenge

We ask our fellows to design, market, and sell a product with a profit goal of $1,000. They have an initial budget of $500 to accomplish the goal.

$500 investment → $1,000 profit

 

The Idea

The fellows have designed reusable bags highlighting the mission of Duplessy Foundation, cultivating homegrown talent. They did research on suppliers, materials, pricing, and marketing.

 Custom Reusable Bags

 

The Execution

The fellows took a course taught by branding expert Tom Hall to increase their understanding of marketing a product. Thereafter, they split into teams focusing on product development (design and price), promotion, in addition to administration and finance.

 Microventure Session

 

The Launch

We now have a final bag which we will launch at our Open House BBQ on September 15 from 12-3pm at UMass Boston.

Duplessy Foundation


UMass Boston, College of Community and Public Service

Wheatley Building, 4th floor

September 15, 2012, 12-3pm

 

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