The economics of Startup Weekend Thessaloniki

An event about entrepreneurship where anyone can present ideas, network and learn from creative peers! This is what we had in our minds before setting up Startup Weekend Thessaloniki.

Long story short, running this kind of events requires a budget, right? Trying to bring SWThess to life we had to create our projections and calculate how much we’ll need to make it happen. So.. 54 attendees for a full house, 10 mentors, team, and volunteers. This is more than 80 people, it’s going to be kind of hard. Our cost per attendee is €35/person and the ticket price cannot be that high. So, let’s go…

Projected participants
Attendees: 54
Coaches: 10
Team: 7
Miscellaneous: 13
Total: 84

Then we had to project our expenses. We need a global facilitator – this was Katerina – to run the event, feed all those 84 people but ok they are not going to stay all day long so let’s cap it to 70-75, and print what we need from participation cards to business model canvases. So here are the projected expenses:

Expenses Cost Units Cap Total amount
Facilitator(Flight) €250 1 €250
Breakfast €30 2 €60
Lunch €4 2 70 €560
Dinner €4 3 75 €900
Prints €70 1 €70
Marketing €50 1 €50
€1,890

And here is our initial projection regarding tickets

Ticket Type Price Units Full house income
Blind €15.00 10 €150
Early €20.00 15 €300
Normal €30.00 29 €870
54 €1,320

So we’d started the execution of the event having in mind that we’ll have a loss of €570; however, thanks to each and everyone involved this is what finally happened:

    • Total attendees: 47
    • Mean age: 27,2 (Younger: 18, Older: 54)
    • Diversity ratio: 75(M)/25(F)
    • Ideas pitched: 14
    • Teams formed: 9
    • In-kind Sponsors: 19
    • Cash sponsors: 1
Income Amount
Thess Gala sponsorship €200
Ticket income €940.53
Total €1140.53
Final expenses Amount
Supermarket €115.14
Vegetarian food €36.7
Pizzas €248
Breakfast €15.1
Facilitator €290.35
Welcome bags €40.68
Prints €50
Ticketing fees €91.27
After party €51
Total €938.24
Income €1,140.53
Expenses €938.24
Revenue €202.29

But what’s the deal with Techstars? They help us run the event and get 50% of the revenue. That’s clear from the beginning and in our case this means ~€100 for Techstars. Thus, what’s in the cash desk right now? ~€100! We’ll be using this amount to make SWThess happen once again, but when? Ehhm I’d say this October the 19th (Shhhh! We’ll need some more time for the official announcements)

Ah! I forgot GeekBot’s sponsorship. This is a real connected community case and I love it! As you could recall, last day of ticket sales prices went -50% because of a GeekBot offer. The deal was like this “Startup Weekend decreases ticket prices by 50% and if there is any loss by the event closure, GeekBot pays the difference cash”. No loss at all, GeekBot just owes coach Sakis for a while as we’ll need to fix some designs for the upcoming SWThess 🙂

Wrapping it up, we are a team of volunteers that offer personal time and energy to make this event happen. We’d like to thank every and each sponsor that contributed, we love you all ❤. We still have no budget apart from those €100 but we promise that we’ll be doing SWThess happen again and again!

We’ll see you in October,

D

PS: In this PS I would like to greet people that were like “Of course, Startup Weekend! Let’s do it, we are sponsoring etc” and never responded to my calls, emails, and follow-ups. Hello guys! Next weekend we’ll be October the 19th, this is enough time to run processes and get in the loop, isn’t it? 😉








Why being honest matters

I don’t hide being an avid Netflix-created content binger. Among those binges, I found this great documentary series called “Dirty Money”. It outlines many dishonest business practices being performed by many companies around the world. The impact of this dishonesty is not only felt by consumers but also the businesses themselves. It turns out that being dishonest can only mean a short-term gain. In the end, we all must pay the piper.

What we have to keep in mind, is that in business, time can slow down considerably. This “slowing down” effect that might leave you thinking that “all is well”, means that you are probably surviving on borrowed time. At some point, past dishonesty will come back “in the now” and will be a critical, time-consuming affair that may impact your business. This could be in the form of losing a valued client, a business partner or damage your credibility as a business.

Being tainted in that way, especially when a business is just starting out, might mean the end of the business. Because when honesty is at stake, there are rarely second chances. Having the courage to own the mistakes and taking responsibility for the dishonest behavior are only two ways to mitigate the results.

As the famous auto industrialist John F. Dodge said: “There is no Twilight Zone of honesty in business — a thing is right or it’s wrong — it’s black or it’s white”. Nothing grey about it.

I hope to see you at Startup Weekend Thessaloniki where we can talk about it more!

—————-
This post was originally written by our Speaker and Prize provider Mr. Leontaris.








From an idea to your own business, are you ready?

Changing your style of work and setting off to the unknown can surely be both an exciting and challenging cause!
What will you need to get you started?

A clear vision – You want to create, dream of having your own company, working on your own ideas, changing business in your field. Start walking towards your goal then!

Teamwork – No man is an island, as such without awesome people beside us to share our vision we cannot achieve full results, think in community, stay social, stay helpful and inclusive.

Mentors – Barely anything is more helpful and important than people you look up to and admire in your field of expertise, they will propel you towards faster and smarter routes in achieving your goals!

Location, location, location – Community hubs and lovely places to live, nurture creativity and productivity. Community, workshops – and well, events like Startup Weekend! – test your ideas and skills, they polish them so you stay on track with the market!

Don’t bother thinking about ifs and hows, join us in Startup Weekend Thessaloniki 2018 to live out your ideas in action!

 








5 reasons you should attend a Startup Weekend!

The work. You get to test and live through the whole process of idea, team and business creation in a direct and hassle-free manner.

The people. You’ll certainly meet lots of like-minded people, mentors and role models that are the key to you stepping up your startup game!

The feedback. Mentors, judges, and companies share their views on your idea and working style so you avoid common issues that set you further away from a healthy business.

The causeCommunity, networking, and volunteering is the best environment to meet your future teammates that you share a common vision.

The fun. An event without fun is clearly not worth it, so join us for 3 excellent days!








What is Startup Weekend anyway?

Short explanation 

A weekend for you to test your startup idea, business plan, and teamwork while meeting cool people and eating delicious food!

Details

Startup Weekends are 54-hour events where developers, designers, marketers, product managers and startup enthusiasts come together to share ideas, form teams, build products, and launch startups! 

Startup Weekends are weekend-long, hands-on experiences where entrepreneurs and aspiring entrepreneurs can find out if startup ideas are viable. On average, half of Startup Weekend’s attendees have technical backgrounds, the other half have business backgrounds.

Day 1:

Beginning with open mic pitches on Friday, attendees are encouraged to bring their best ideas and inspire others to join their team.

Day 2 and 3:

Over Saturday and Sunday teams design and develop business plans while constantly streamlining their startup vision.

Final:

On Sunday evening teams demo their prototypes, listen to judges’ feedback and in some cities, win prizes.

Startup Weekends are specifically designed for entrepreneurs interested in receiving feedback on an idea, looking for a co-founder, or who want to learn a new skill. We also welcome anyone looking to test the entrepreneurial waters. Startup Weekends are risk-free environments where everyone is expected to roll up their sleeves and dive into the exhilarating world of startups.

Get your ticket now!








Startup Weekend is back in town

Startup Weekend Thessaloniki is back in town and ready to empower your next creative entrepreneurial idea. We are happy to announce that ‘Get Your Hands Dirty’ is taking place from the 12th to the 14th of May at OK!Thess. This is a great opportunity to get your hands into new creations, working closely with experienced professionals, mix & match with like-minded people, network, learn and have fun during a highly creative weekend.

Startup Weekends are 54-hour events where developers, designers, marketers, product managers and startup enthusiasts come together to share ideas, form teams, build products, and launch startups! The weekend is all about learning how an amazing idea could be transformed into a lean & sustainable organization; learning is achieved via the hands-on approach.  

Our first coaches are on board and now its Bus time! A small bus departs from Athens downtown early Friday the 12th May! Wanna ride it? Tell us where to pick you upWant more info? Send us your inquiries at thessaloniki@startupweekend.org

Startup Weekend Thessaloniki, Organizing Team