The Journey of ExchangeBuddy : Pre-Launch – Part 3

CS3216 Week 10

Crunch time coming when launch time coming soon. As they say, murphy law always happens and so we always need to set aside buffer prior to our launch! *Fingers double cross for this*.

Highlights for the week:

  • Launch of Lead Up to Launch (LUL) videos

  • Practicum grant

  • Feelings

  1. LUL

Wowz our videos did take off well with our first sequence gathered 5000 views and more than 50 shares within 3 days. We had a total of over 7000 views for the entire sequence!

The takeaway from LUL is that we should have a more thought through story board for sequential videos. That probably explains why the first video had so much more reach than the other 2 parts.

Another takeaway is that the timing of the video matters!

  1. Practicum grant

Great news, we managed to get the offer!

“Money Money Money, Must be funny, In a rich man’s world!”

Wait wait wait, this is good news but I always believe that we shouldn’t spend money unless we NEED it. We need to avoid a situation of being too reliant on fundings because it is not a sustainable cash inflow. If we are too reliant on spending, and once it’s used up, Bye Bye, we’ll be squashed. Therefore, we would only use these funds to spearhead certain execution which is required and not spend it unnecessarily.

Some tips: In using $, we should have an objective in mind of what we want to achieve by spending $X amount. This can be calculated by identifying the user acquisition cost which helps to determine how much to spend for X number of users. We can also calculate the cost per user with the above result. Following which, I have drafted out a rough plan on a few campaigns to be run throughout 2017 and which campaign to choose would be determined by the cost per user conversion.

  1. Feelings

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Sometimes, leading a startup (I don’t like to use this term as it feels overused) isn’t as glamorous as it seems because in addition to the common problems that we need to manage (academics, relationships, commitments etc.), we also need to be concerned about the morale of the team, progress of the development and execution of the project. My team is important to me because I strongly believe in TEAM.

There is only so much one can achieve but there is so much more we can achieve as a team. – Can I quote myself here? Haha

What motivates me?

I don’t know why but somehow thinking about the future and the potential to create value motivates me. Okay shall not go into this at such a time but I’m extremely excited for the launch of our new web application! So do support us when it is live alright!

That’s all for me this week! Adios !

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