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STRENGTHS AND WEAKNESSES of Ego Branding & Consulting

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STRENGTHS AND WEAKNESSES

Ego Branding & Consulting has a number of qualities that will allow us to compete in this market propitiously. Our disadvantages are fixable and will be addressed as the company grows.

Strengths – The founders of Ego Branding & Consulting have extensive experience in both marketing and communications that can be advantageous to Black Female Founders and small businesses. The founders combine their training and knowledge gained through their education at both Smith College and Tufts University respectively and applied to their respective jobs at mid-size companies such as Synergy Pharmaceuticals and Twenty Ones Inc (dba. The 40/40 Club). Ego has a regional presence in New York, which has a number of growing efforts to support businesses started by minority owners as well as being a central hub in venture capital. By using the most current technology available to correspond with cohorts, Ego will be able to minimize expenditures charged to its cohorts.

Weaknesses – Presently, both of Ego’s founders both hold full time positions in communications, marketing and human resources. Both are operating Ego as an additional occupation, which is impeding Ego from taking full advantage of many current opportunities. To curtail expenses, Ego is currently operating in a digital space, allowing us to work with Black Female Founders across the United States. While having access to a strong, eclectic Advisory Board, in order for Ego to create a physical space in New York for Black Female Founders Ego will require added resources. Ego also has limited experience in venture capital, but would be using every opportunity presented to network and ascertain as much knowledge without outsourcing.

Distinguishing Skills – The unique proficiencies for Ego Branding & Consulting are:

  • Regional presence and connections in New York with the prospect of development into other markets;
  • Essential aptitudes in marketing, consulting, strategy and communication;
  • Marginal fixed expenses that allow us to keep expenditures low;
  • Focus on Black Female Founders;
  • Large company talent and small business capability.

Market Analysis Summary

Ego Branding & Consulting intends to enter the market for providing accelerator services to black female founders. Below we discuss our analysis of the environment, the target market, our competitors, and the company.

The environment is well suited for Ego Branding & Consulting. With the market for startups and IPOs once again heating up, there is an opportunity for Ego to work with black female founders to address and fix the funding gap that exists between them and their white male counterparts.

Structural Factors

Particular market factors may play a part in Ego Branding & Consulting’s capacity to succeed. These factors are identified below:

  1. The Power of Black Women: With almost 1.5 million businesses owned and operated by black women in the United States alone, there is both a demand and need for an accelerator that caters specifically to black female founders. Black women have untapped potential in this market and despite financial support within the market being significantly less than their counterparts, it is unlikely to have any substantial negative influence on the accelerator.
  2. Risk of Traditional Competitors: No other traditional competitor owns the idea of “black female founder startup accelerator” in the minds of today’s black female founders. A number of higher profile accelerators and programs do exist, but most of these accelerators are known for being expensive and theoretically, doesn’t address the specific issues that black female founders face. There is always the possibility of these accelerators creating programs and teams of advisors focused specifically on black female founders. These programs could have distinct strength in an area where the competitors already have a reputable presence, but by focusing our efforts in New York and its continuously developing Silicon Valley, Ego will focus on an area that has a very strong market of black female founders, but does not have many prominent competitor offices with a physical presence. No lesser known competitors have emerged in this area.
  3. Risk of Alternatives: Potential alternatives are a very real risk. Venture Capitalists could include and add more accelerators to their portfolios in order to have a distinct funnel to specific founders in specific founders, including black female founders. Furthermore, non-profit organizations may begin to offer fundamental business plan services, largely concentrating on pre-seed businesses. By creating working relationships with Venture Capitalists, Ego’s goal is to offer a set of core competencies in marketing and business strategy that supplements the VCs funding and business model assessment abilities.
  4. Risk of New Entrants: This risk is noteworthy as there are very few obstacles to enter into the accelerator / consulting market. Firms like Ego, do not typically have intellectual property to be patented and the requirements for creating these types of accelerators are minimal. Despite this, the scope of the new business market that focuses on black female founders should support a number of accelerators or programs in this region. Ego Branding & Consulting will concentrate on gaining ownership of the idea “black female founder accelerator” in the mind of the market. By maintaining that idea, Ego will reduce its exposure to new accelerators and programs with comparable targets. Retaining this idea is an expensive mission that will start locally and move from one city to another as the company develops and grows.

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GradesFixer. "STRENGTHS AND WEAKNESSES of Ego Branding & Consulting." GradesFixer, 10 Apr. 2019, https://gradesfixer.com/free-essay-examples/strengths-and-weaknesses-of-ego-branding-consulting/
GradesFixer, 2019. STRENGTHS AND WEAKNESSES of Ego Branding & Consulting. [online] Available at: <https://gradesfixer.com/free-essay-examples/strengths-and-weaknesses-of-ego-branding-consulting/> [Accessed 10 July 2020].
GradesFixer. STRENGTHS AND WEAKNESSES of Ego Branding & Consulting [Internet]. GradesFixer; 2019 [cited 2019 April 10]. Available from: https://gradesfixer.com/free-essay-examples/strengths-and-weaknesses-of-ego-branding-consulting/
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