Although a lot of what children learn is taught by the adults around them, there’s also a lot that adults can learn from the children around them. A perfect example of this can be found in the form of a third grade club formed by two ambitious young girls, at an Orange County elementary school. This club, called “Steart Membership”, was formed with the two main goals of getting people to sign up for a membership and marketing origami products to their peers. This may seem like a relatively simple thing to do on paper, but the methods that these girls used to reach their goals, should impress you. In order to reach their goals, the girls conducted a competitive analysis and sought endorsements.
Market & Competitive Analysis
The first thing that Steart Membership did before entering the market, was conduct a competitive analysis. For those that don’t know, this means that the girls researched the other clubs in their grade in order to find out what was working for them and what wasn’t. This in turn, would show the girls the strengths and weaknesses of their competitors, in addition to giving them ideas of how to find and sustain their own success. In typical third grade fashion, the girls were able to obtain this information by hiring spies who would infiltrate competitive clubs and then return to report their findings. Although this tactic is slightly more frowned upon in the professional world, the basic idea is perfectly translatable. Before entering into any market, a successful business should know the ins and outs of their market and what they can offer customers that their competitors cannot. Step one is complete.
Takeaways:
- Analyze the competition
- Identify strengths and weaknesses
- Differentiate yourself from competition
Endorsements
The second thing that Steart Membership did before entering the market, was seek out reputable endorsements for their origami products. The endorsements that the club managed to secure included signatures from YMCA leaders, teachers, and even the principal. With the backing of the most powerful figures at the school, Steart Membership was finally prepared to enter the market with all of the resources, skills, and knowledge that they needed in order to ensure success. In the professional market, this is reflected in the form of reviews on Yelp, Facebook, and Google My Business. Reviews on those three platforms are vital in creating and maintaining a good reputation that will attract and sustain business. All things considered, there’s lessons that can be learned from from our youth, even those in third grade origami clubs.
Takeaways:
- Identify Target Market
- Market Product
- Secure endorsements in the form of reviews on Yelp, Facebook, and Google My Business