Analysis of Constantine Fsrantzeskos, Australian Entrepreneur in BRW 2015 List - Case Study Example

Analysis of Constantine Fsrantzeskos, Australian entrepreneur in BRW 2015 list Student’s Name: Course Code: Tutor’s Name: Date of Submission: Introduction BRW fast starters is a list prepared every year that contains businesses in Australia that are growing at a fast rate, though started lately (Australia Government: Department of foreign affairs and trade 2016). For a business to be listed in BVR fast start ups it has to be operating for less than three years. Its revenue in the current year must be more than the previous year. It must have less than 200 full time employees and more than one customer. (Eisenmann 2013) says that PENSO is one of the companies that were listed in the BRW starters list in 2015. Its founder, a renowned marketing strategist Constantine Frantzeskos was born in January 1976 in Melbourne Australia. His career in marketing and communication started when he was 13 years of age when he moved crowds in a family’s night club for the under aged. Since then he has laid foundations in the sector of marketing and communication. PENSO was started in 2012 with its headquarters in Melbourne and it has opened a new office in Dubai where their operations in marketing, branding and communication takes place. It has more than 17 staff in its two offices which are in Australia and Dubai (Hoffman2012). PENSO usually dig deeply to their clients’ businesses in order to know their refinements of value and insights. Through this, they are able to develop or come up with strategies which improve the client’s marketing and communication of their businesses (Hoffman2012). The company develops guidelines for brands so as to communicate them using the best channels. Being a startup in the digital world, PENSO develops sites, applications software and intranets that inspires customers and facilitate the continuity of their businesses. They collect feedback from their customers in order to be able to track progress of their work in Australia and the rest of the world. Back ground information of Constantine Frantzeskos Constantine Frantzeskos was born in Melbourne, Australia in 1976. His family had a nightclub in the place where Constantine started developing his talent in marketing and communication at the age thirteen (Livingstone 2008). Constantine is an experienced marketer having been in the sector for twenty three years. He has been holding positions in global leadership positions in different international companies such as Edelman Digital, Dentsu Media, DDB and Ogilvy among others. He has been able to create successful communications, digital transformation initiatives and marketing in several brands such as coca-cola, Emirates, Toyota and Hilton all over the world (Australia Government: Department of foreign affairs and trade 2016). This makes Constantine a digital marketing strategist who is experienced and successful. Constantine have marketing experience in many places of the world such as Australia, Asia, Middle East, North America and Europe where he has developed and help in forming emerging markets. His marketing and communication work was recognized in January 2016 when he was appointed to the board of LauchVic a company owned by a Victorian government with the aim of making Australia top most destination for startups, scale ups and entrepreneurs. Hoffman (2012) says that in the year 2012, Constantine founded PENSO a company that deals with developing marketing strategies, branding, designing as well as advertising. Constantine was educated at Monash University; he graduated with a degree in economics. According to (Eisenmann 2013), a startup company is a business venture which is new in any sector, growing very fast and has the objective of meeting the market demand by giving the best to the customers. Most of the times startups use technology like e- commerce and the internet. Use of computers, robotics and telecommunications are the basic characteristics of startups (Ghosh 2014). PENSO is a starting company in Melbourne, Australia which has the characteristics of a startup and this is the reason it was listed 75 in the first 100 BWR fast starters list in 2015. Founded in 2012, PENSO aimed at bridging the gap between creative agencies, management consultancies, creative agencies and digital agencies. PENSO was founded by Constantine assisted by Grant Farrelly and David Rigbye. Grant is the head of product and design and a co-founder of the company. He hails from Hamilton, New Zealand with bachelor of arts from Waikato Institute of Technology. He is an experienced in developing best known brands in the world such as Coles, British Telecom among others. David is the head of production who is also experienced in creating and managing integrated campaigns across any media. The three constitute the PENSO culture of taking their business as a mission. The company deals with brand consultancy, advertising, graphic design as well as marketing services, social media and online marketing (Hoffman 2012). PENSO have several competitive advantages over other startups, it has been able to outdo their competitor businesses in that they give their services at an affordable price (Porter 2008). Constantine and his colleagues are experienced professionals in the marketing sector. This makes them aware of the market trends and therefore giving their customers the best at an affordable price compared to other businesses in the marketing sector. The PENSON crew has positioned themselves as experts in their sector; this makes them the leading authority and experts that every other customer will prefer (Robert 2007). Constantine as the CEO and founder of the company has developed craving fans in their products. As much as they try to attract new customers the big companies they have worked for help in selling their name globally. These old customers lift the banner of PENSO high therefore attracting more customers and in so doing they outdo other companies in this sector. Use of online marketing gives PENSO a competitive advantage in that the technology have improved significantly in today’s world and companies want it digital and Constantine and colleagues have done it (Sushil 2015). Future entrepreneurial suggestions PENSO Company, as a growing business has some areas they need to improve on or develop in order to survive in this competitive sector. More research needs to be done while branding customers products. Accosting to Teece (2000) this means the company needs to have knowledge on the recipient audience so as to come up with brands which are attractive to the recipient audience and attract more customers. Introduction of more services in the company can also be profitable and make the startup competitive. Due to their experience in online marketing, the entrepreneurs can start development of marketing software to enable many people access their products from their doorsteps (Robert 2007). Customer satisfaction is the most important issue to embark on when operating a startup. A business’s brand is how customers view it and their perception can increase sales making the company’s revenue to rise and be able to compete with other startups in the sector (Hoffman 2012). PENSO as a startup must ensure that they satisfy their current customers in order to maintain them and attract others at the same time. Many startups encounter the challenge of their products to anyone anywhere. For better outcome in a starting company, the entrepreneur is supposed to identify his/her target market, concentrate on them to give them quality services so that he increases his revenue. PENSO being a startup that is globally recognized can concentrate with the big companies they brand for such as emirates. Rita (2013) says that this gives their customer a sense of satisfaction and other customers will follow automatically. A successful startup need to be committed in blogging. Blogging helps in spreading the entrepreneur’s insights with those who are around his blog. Opportunities will come on the entrepreneur’s way due to the many people who will receive the entrepreneur’s mass scale. From this Constantine and his co founders are supposed to invest a considerable amount of time blogging PENSO’s culture and the way do things to attract more customers and succeed (Thomas 2000). A startup with plans to expand and compete favorably with other companies in its sector should embrace delegation culture. As well as the company try to venture into improving its products as well as coming up with new, every piece of work should have a leader who is responsible for specific duties and responsibilities delegated to him or her by the founder or the entrepreneur (Porter 2008). PENSO should divide their work into bits and each given to an individual employee so as to maximize their services provision to its customers and improve their competitiveness. In the future PENSO, a fast growing startup can increase their area of operations and include more services to their customers in order for them to keep moving. According to Livingstone (2008) Constantine with his co founders can engage themselves in offering more than communication and marketing. Owing to the fact all are professionals in different fields, they can use their expertise in those fields to give their customers the best and this automatically increases their revenue. A good example is Constantine using his knowledge in economics to advice firms on how to use the limited resources for their maximum benefit (Thomas 2000). References Ahmed, I A & Fakhurul A Z 2016, ‘The impact of Social-cultural Business Environment on Entrepreneurial Intention: A Conceptual Approach’, International Journal of Academic Research in Business and Social Sciences, Vol 6, No. 2, pp. 80-92. Australia Government: Department of foreign affairs and trade 2016. Viewed 1st Sept. 2016 from http://www.dfat.gov.au/councils Eisenmann, T 2013, Managing Startups: Best Blog, O’Reilly Media, US. Ghosh, A 2014, How To Choose The Best Business Structure To Choose For A Start-up?, The Startup Journal, Vol .8, No. 4, p. 44-45. Hoffman, R & Casnocha, B 2012, The Startup of You: Adapt the Future, Invest in Yourself, and Transform Your Career, Crown Publishing Group. Livingstone, J 2008, Founders at Work: Stories of Startups’ Early Days, APress, New York. Porter, M E 2008, Competitive Advantage: Creating and Sustaining Superior Performance, Simon and Schuster publishers, New York. Rita, G M 2013, The End Of Competitive Advantage: How To Keep Your Strategy Moving As Fast As Your Business, Harvard Business Press, US. Robert, B P 2007, ‘A Framework for Business Sustainability’, Environmental Quality Management Journal, Vol. 17, No. 2, P. 81-88 Sushil, K P 2015, ‘Role of the Family in Entrepreneurship Development in Nepali Society’, The journal of nepalise business studies, Vol. 9, No. 1, P 37-47. Teece & David, J 2010, ‘Business Models, Business Strategy and Innovation’, Long Range Planning, Vol.43, No. 172, pp. 2–3. Thomas, A S 2000, ‘A case for comparative entrepreneurship: Assessing the relevance of culture’, Journal of International Business Studies, Vol. 31, No. 2, p. 287-288. Read More