How to use your MBA dissertation as vehicle to start up a business?

Four young graduates of Romanian-Canadian MBA program have started their own business specialized in catering software solution with 40,000 euros investment. The business plan was actually the project for the MBA degree.

The business didn’t start in a garage, but in the backyard

The business plan stemmed from the poor management situation experienced by the founders of the company in their relations with clients.

“To enlist only few of the cases, the running of multiple communication channels, the partial or troubled conveyance of critical information about clients, the treatment of satisfied or unsatisfied clients evenly, the inability to anticipate a market need, field marketing forces that work with different client profile information only because they use different instruments, accurate information sent defectively to clients, and not knowing the managers made up the grounds for the startup”, said Daniel Ionescu (photo), CEO of myCRM.

After two years of study at Romanian-Canadian MBA, the initiators of myCRM grasped Romanian market’s need for software solutions and decided to build up a company to provide solutions and adjacent services designed to improve customer interaction.

“The business plan was practically the project for our MBA degree. Our ten-year experience in IT market paved the way for our focus in this field. We deemed the roadblocks specific in the field and our expertise as lucrative advantages”, said Ionescu.

The start-up of the four young graduates didn’t born in the garage like it did at Apple or at most of the US software companies, as the CEO of myCRM notes. “The business plan however, was born in the backyard”, he added.

The official opening was in November 2008, after four months of setting up the technical-commercial infrastructure – choosing the name, registration of the company and web domains, building the website, acquisition and configuration of servers to run the specific application, offers and commercial contracts, development of training materials and implementation methodology.

myCRM Solutions provides a full range of implementation services, data sharing, technical support and assistance in implementing a strategy of customer care improvement, with special focus on service area, aiming at covering all commercial needs of a company, starting with establishing the strategic objectives according to the client’s area of activity, drafting a business plan, strategic and operational marketing plans, parceling the objectives between teams and members of the teams, staff training, lead generation for clients and ending with call center services or post-sale support.

“The entire process is supported by software platforms specialized in customer care, for which we provide assistance in customization, implementation, training for users and maintenance and technical support fit to each client’s needs”, Ionescu added.

The utmost subscribed capital for the software company was allotted to the human capital, and amounted to 40,000 euros.

“In the event of a break-even annual outcome this year, the profit will be reinvested in the company and still in the development of human capital”, Daniel Ionescu explained.

Given the fact that myCRM became public two months before December 31, 2008, the company had a 16,000 euro turnover at the end of last year. Ionescu expects 50,000 euro business by yearend.

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