Remodelling the recruitment process of the Senat

Problem identification:

1. “Senat der Wirtschaft” sounds old and slow if you do not know what it does.
2. There must be a better way to show the benefits of the Senat for potential Members.
3. The Senat has to differentiate between Startups and successors of existing businesses because their needs are different.
4. Is not yet known for its benefits but only for the 500€ fees

Successors

• Can pay the fees • May need help in restructuring the business • Know their business and can make use of the network without guidance

This category must be approached directly, digital and with clear benefits for the young successor. In this case, the Senat must connect the expertise of its network with the needs of the specific company. Through this process, the Senat will be part of the change in the company and can help with and influence decisions. This is how the Senat could build up a strong connection and will get a dedicated long-term partnership.

Startups

• May not have the money for fees • Know their product and their market, but may not have the expertise • Have their young Startup-community • Will benefit from guidance from experts

The Senat offers the opportunity to be part of a network of experts in diverse fields of economics. This opportunity is not yet interesting if you are a startup and trying to build your MVP. Today approaches like Design thinking, lean startup and the trial-and-error principle are emerging. A core idea is to put every cent you have into an MVP with the mentality to “fail fast learn fast”. An investment of 500€ might be too much for the first step and is a risky investment not going into the MVP. To create value for the Senat and interesting startups we must use a different approach.

To overcome this, it might be worth seeing Startups more as an investment. It should not be free and not everyone can participate but the Senat could make use of modern techniques in the field of Startups like Innovation Sprints, where multiple startups can participate. After the event, the Senat will select interesting Ideas and products and can offer the membership for a reduction or free for a pre-defined time. The membership will be an honour and price for new members. To find participants, Universities, Startup-hubs and Incubators might be interesting partners.

This approach will assure, those interesting Startups will see how the Senat works and how they can help overcome barriers in the path of a new business. As soon as the “Free Trial” is over, the Senat will have a new member that will pay their fees. It will further strengthen the reputation of the Senat. Also, word of mouth plays an important role. If the startup sees the benefits of the Senat, it will tell its peers about it and more startups will enter regardless of the fee or take part in future events of the Senat.

Conclusion: The two groups are not the same. To attract Startups you have to start in their early stages. Word of mouth will further strengthen the Senat position in the startup field. Long-term members will be attracted.