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Taking over a business that's been going for 8 years

Discussion in 'General Business and Entrepreneurship' started by GoBills92, Dec 9, 2015.

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  1. GoBills92

    GoBills92 Entrepreneur

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    Hey everyone!

    I have been given a unique internship opportunity where two other interns and I have been given control of a startup/established company. The company has been around since 2007 but has been ignored for the past year or so while the CEO was working on starting another company. That’s why I am calling it a startup/established company.

    The company is Ceno Technologies: (I tried to link the company website but the forum will not let me!)

    The value proposition of Ceno Technologies is that they can coat Cenospheres and Glass Microspheres with metals to give them special properties (electrical conduction, stealth applications, EMI shielding, We can also provide scientific expertise to work with companies to come up with solutions to their problems. There are other companies that have licensed our propierty technology to coat the cenospheres but we have the best scientific expertise in the industry since our CEO invented this technology.

    The cenosphere market has become a commodity market where prices and margins are falling rapidly while the supply surges. We can make some money off of selling these but the real money to be made is coating the spheres in different metals and then selling them. The company has partnered from everyone from the US military to universities on different projects.

    During the last couple weeks we have been reestablishing our supplier network and now we are at a position to begin selling again.

    I was wondering how I could find more customers for our services. According to the CEO most of the business has been from people contacting us but I was hoping that there would be a more proactive approach where we could go out and find our customers. We’ve been attempting to perform a market segmentation to find the best market to go after first but since there are so many different markets. We have had a tough time nailing down one we want to go after. Universities and research labs seems to be the most common customer that has been contacting us from what I have seen.

    Another issue is that we rely on the CEO for the scientific knowledge when talking to customers but we have been making strides in this and we have been setting up weekly learning meetings to learn from the CEO.

    What do you guys think in terms of our business model? Do you think we are going about making money the right way? How should we market to our customers and go about finding new customers?

    And if you are wondering what other company the CEO has been working on, it’s the New York Center for Nano Medicine Research.

    Thanks in advance!
     

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