Kart Racing Tournament ! That’s what we came up with, me and my friends, Garland and Bruna and here below we formulated our business plan.
Place: IE MBA building, at the cafeteria
Potential Participants: MBA students (and friends)
Numbers of participants in total: Not determined
Numbers of participants racing at one time: Up to 4 people
Equipments: 4 TVs, 4 Consoles, 4 chairs
Start Time: Peak hours, after classes on Friday
What are the underlying business assumptions of your idea?
Men love video games and competition. They spend remarkable time playing soccer, car racing etc. against each other. It not only creates good competition also leads to more competitiveness and motivating behavior. Considering the big number of MBA male students at IE, we assumed that launching a video game tournament has a potential in terms of creating value for both sides. The more people join the game, the more value we make, and the more value we make, the more money the winner is likely to make as well. And no doubt, it has entertainment value too.
How does it work
- To enter the game, each participant must pay 10 EURO and will be assigned an opponent.
- The winner of each game will continue playing and the loser will be out.
- This will result in a final match where there will be 2 participants left, one taking home the prize.
- Goal: Creating both value and profit for both sides. It is a fun and competitive way to create value and could be recreated on other campuses in other locations.
- Prize: Split earnings 50%-50% with the winner + Certificate (which will cost us 5 euro or less)
If we get 50 participants each paying—-> 10 euros to enter the tournament
Our value: 250 Euro / Prize : 250 Euro
With 100 participants——> 10 Euros to enter
Our value: 500 Euro/ Prize: 500 Euro
How would you evaluate them?
Evaluation is mostly based on the number of the participants. If there are few people interested in the tournament, we would probably ask the students the reason why they don’t show any interest in the game or their opinions/ways to improve it. Depending upon their requests and feedback, we would evaluate our so-called ‘‘business’ and decide If we should go for it or not.
How would you proceed?
The driving forces of the game are competitiveness and entertainment. Most of the work is done by the participants. All we have to do is to take initiatives for the tournament, secure the fairness of the game and have responsibility for calculating the amount of the prize in the end. It is a very self-growing process.