@PanigramResort Thank you for having me Kim! People can reach me via email at: kboekhoff@panigram.com. I would be happy to answer anyone’s questions. Also, you can learn more about Panigram Resort at our website: http://www.panigram.com.
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Kristin Boekhoff
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Kristin Boekhoff
@PanigramResort One easy thing to do is again to look for local suppliers. You save a lot of energy by not transporting goods half way around the world. Is the paper you print your documents on manufactured in Michigan or Malaysia?
Do you have your own building? If so, can you partially integrate alternative energy into your power system like solar or wind power?
Are the raw materials that you are using to create your product coming from environmentally friendly sources? If not, are there greener alternatives?
What is the lifecycle of your product? How does someone dispose of it at the end of the day? Can you recycle it instead?
At Panigram Resort we are doing several things to make our project more green including:
–We will use alternative energy (solar and wind power)
–We are building the resort from mud and bamboo, both locally available highly renewable resources
–We will have an environmental education program in a local school
–Our toiletries will be made from fresh ingredients and the excess will be composted
–The fruits and vegetables for our restaurant will be organically grown at the resort. -
Kristin Boekhoff
@PanigramResort Ha! Well, there are many ways that businesses can incorporate socially responsible components into their business. Can you use local suppliers/ merchants? (You support the local community.) Can you have part of your business in a developing country (i.e. manufacturing)? If so, you can employ local people, pay them a living wage, and give them benefits (like health insurance, maternity leave, etc.); most companies in developing countries don’t provide these things.
Socially responsible means that your company helps improve the lives of the people in your host area. Whether you are in New York or Dhaka, think about ways that your company can reach out and support your local community.
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Kristin Boekhoff
The same thing goes for your business plan. A business plan is something that the business owner needs to create for him/herself. It is the road map for your company.
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Kristin Boekhoff
@PanigramResort If you mean do they need to use a CPA or financial advisor to create their pitch, then I would say no. In fact, you definitely need to create it yourself. If you don’t understand how to put your numbers together, then you won’t be able to defend it to the people that you are pitching to.
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Kristin Boekhoff
@PanigramResort I am not sure that I understand your question. What do you mean by “outside resources”?
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Kristin Boekhoff
@PanigramResort There are several components to a good pitch:
1) Excellent, attention-grabbing introduction (i.e. in my pitch I show a slide of the dirty, polluted, noisy city of Dhaka and then a slide showing the beautiful Bangladeshi countryside)
2) Describe the problem you are trying to solve (i.e. foreigners want to be able to visit the Bangladeshi countryside and stay in a nice place)
3) Summarize your solution to the problem (i.e. I am building a luxury eco resort with a spa in the Bangladeshi countryside)
4) Analysis of your target market (be specific and highly segment it. For example: there are 30,000 foreign expatriates in Dhaka, approx. 40,000 wealthy Bangladeshis, and about 5,000 foreign tourists each year.)
5) Give a competitor analysis – look at your direct and indirect competition (i.e. my direct competition are other resorts in Bangladesh, my indirect competition are resorts in nearby countries). Are there competitors that you could turn into partners?
6) Describe your project team (why are you the right people to do this?)
7) What is your sustainable competitive advantage? (i.e. I have the first mover advantage – this is the first resort of its kind in Bangladesh.)
What are your milestones? What have you already accomplished?9) Present your financials. How will you make money?
The best way to prepare for a good pitch is to have a great business plan. Start with your target market and work outward from there.
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Kristin Boekhoff
@PanigramResort Good morning Kim! I am developing a socially and environmentally resort and spa in Bangladesh. My areas of expertise are design, management, and real estate finance. Prior to starting my own company, I managed over $7 billion of equity invested in more than 100 real estate funds. I also know quite a bit about sustainable development and social entrepreneurship, since those are two very large aspects of my current project.