ICenter Case Study
INNOVATION. INVENTION. INTEGRATION. IMAGINATION. These are the core concepts for projects completed at Robert Morris University Illinois’ ICenter. This unique endeavor, which stands separately from the University’s programs of study, expands beyond our student’s classroom education by engaging them in real-world projects with actual clients.
CLIENT OVERVIEW: Push Indoor Cycling Established in 2015 6315 South Central Chicago, IL 60638 pushindoorcycling.com
PROJECT SCOPE
ACCOUNTING
MARKETING
PHOTO/VIDEO
GRAPHIC DESIGN
ICenter Case Study
THE PROPOSAL
PROJECT TIMELINE: ACCOUNTING Fall 2015 MARKETING Fall 2015 PHOTO & VIDEO Fall 2015 ACCOUNTING 2 Winter 2015 GRAPHIC DESIGN & WEB Winter 2015
Raquel Prendkowski is a perfect example of a superwoman. As a mother of three, nurse by day, and owner and instructor of Push Indoor Cycling near Midway Airport, she is doing the ultimate in balancing acts. Raquel discovered cycling several years ago when a back injury eliminated running from her personal fitness program. Given the limits Chicago’s weather puts on people who share her love of the sport, she knew an indoor facility could fill a need for snow-bound and traffic-plagued cyclists. There was definitely a market for her idea, and she always wanted to be her own boss, so she jumped in with both feet. She found a storefront, and with help from her husband, renovated the space, purchased equipment and set about finding instructors. Things started off a little shakily, but then plateaued. “I was doing this all by myself and I really underestimated my startup costs. I had set an investment limit for what I could lose and still be ok, but I honestly didn’t know if I was making a profit or not,” she admitted. She found that her first need was to re-examine her business plan which was missing some key components. “I thought I was doing a good job at marketing by putting together some packages but I was maybe breaking even at best.” A fresh look at the business with some innovative ideas could move things forward. The RMU ICenter was the prescription this nurse-cyclist needed.
ICenter Case Study
TEAM BUILDING
“The collaboration, critical thinking, leadership and communication skills acquired during an ICenter project, empowers students to take ownership of their knowledge and abilities, redefining them and improving them with each encounter.” - Deanna Ho
A successful business plan has many facets and the programs of study at Robert Morris University cover just about all of them. In the School of Business Administration, accounting, management and marketing are among the areas of concentration for student business majors. Those who study graphic design include print, photo, video and web design in their program. Together, these areas complement the essential elements of a business plan, creating a financial foundation with principles of management and effective marketing techniques. Deanna Ho, Dean of External Experiences at Robert Morris University, explained to Raquel how students become involved in ICenter projects at Robert Morris. They talked about how students from different majors come together and provide one another help to create a cohesive plan for a new business, crossing over their areas of study to give a broader approach with unique ideas. Raquel was skeptical, at best. “I really thought the end result would be pretty amateurish – after all these were college students. But, I enjoy working with students and since I didn’t really know anything about the plan, I thought I would be helping them, instead of them helping me.”
ICenter Case Study
THE PROCESS Over the course of four months, Raquel worked with a team of marketing, accounting, management and design students from RMU’s Chicago and Orland Park campuses. They met for information sessions, visited the facility and talked to clients. Initially, students spent a great amount of time just collecting information and observing the process. They assessed the business operation as outsiders and shared what they learned with faculty members and others on the team. The RMU students explained to Raquel that by doing a classic SWOT analysis (strengths, weaknesses, opportunities and threats), they could build upon the strong components of the business and resolve the weaknesses through the discovery of opportunities. They proceeded to take her business plan apart, and put it back together again. They approached each segment of the business, gave presentations on their findings and provided suggestions. They examined her accounting practices, reassembled “frequent visit spinning packages,” changed reservation policies, set up a marketing plan that included social media, and redesigned the website with new photos and video. Her impression of the presentations given by the RMU students? “It was beyond belief,” she says. “They were amazing. I thought, ‘what can they see that I don’t see already?’ But there were things I totally missed. I think sometimes it takes an outside perspective to see some of the things you can do to improve business. Sometimes it is a major overhaul, but often, it is a very simple change.” The internal changes, such as cancellation policies, made a difference right away. Externally, the photos and videos gave a very professional look to the entire operation. The imprint made by including social media marketing made visits to her website and Facebook page soar.
ICenter Case Study
OUTCOMES MARKETING PLAN • Conducted Situation Analysis • Conducted SWOT Analysis • Determined Target Markets • Proposed Marketing Mix • Proposed Schedule • Proposed Budget • Developed Marketing Metrics
ACCOUNTING PROJECT • Conducted Break-Even Analysis • Conducted Operations Analysis • Reviewed Cash Inflows • Provided Recommendations for Growth
ICenter Case Study
Original Marketing Materials
GRAPHIC DESIGN & PHOTO/VIDEO • Developed Brand Strategy • Conducted Photo & Video Shoot • Redesigned Website • Branded Print Materials
After
ICenter Case Study
OUTCOMES - Redesigned Marketing Materials
Raquel Prendkowski Owner
6315 S. Central Chicago, IL 708.372.3531 pushindoorcycling.com pushindoorcycling@outlook.com
ICenter Case Study
STUDENT PERSPECTIVE Brad Kirouac, a business student with a background in photography and art, was part of the Push Indoor Cycling project. He became involved early on, knowing that he could contribute greatly from a creative standpoint. His contribution would be video and photography for use on the website and in general marketing. He started out talking to Raquel, the trainers and the customers. He asked questions and collected as much feedback as he could. “Going through the research phase really helped me piece together what I wanted to show in the video. I knew it needed to be solid in the internal and external sides of the company in order to create an effective story,” he explained. “I was able to find out what Raquel wanted, then organize and create a story. We wanted to focus on who the people, instructors and customers, really were and what the company was - that is their image.”
“I operated as a creative director and it really helped me learn how to work with other creative members of the team. You have to allow them to be individuals with their own creative ideas, too.” - Brad Kirouac
Students who worked on the financial, management and marketing aspects of the project coordinated their efforts in much the same way. They worked independently and in groups, sharing information that helped one another, even from one area of concentration to another. Brad was able to blend his business and creative talents by taking the effectiveness of the new website a step further. “I showed Raquel how I hooked up the site to Google Analytics. It provides a lot of real-time information about how people were using the site and how she could improve her business.” In all, over 25 students were involved in the Push Cycling project through the ICenter. As the project took shape, some students – particularly those with more classroom and practical experience – stood out as leaders. Others had less experience, but they quickly found they could benefit greatly by learning from their groups and other individual students.
ICenter Case Study
BECOME A PART OF THE ICENTER Experiential learning is not a new concept to Robert Morris University. It has been its approach to higher education for decades, based on a foundation of preparation for real-world experiences that date back to 1913. Since that time, RMU has continuously instilled the principles of solid business practices in their students. They are taught by experienced professionals with the expectation that the sooner students can apply what they learn in the classroom to actual work experience, the better they will understand and use those concepts. RMU’s ICenter was established as an outgrowth of this mission. Seeking out companies to provide internships for RMU students is an excellent start, but including experiences in which students take on the role of consultants with actual clients presents a new and rewarding dimension to real-world practices. To continue with such invaluable experiences for our students, Robert Morris is seeking innovative projects from businesses or organizations that can use input from a fresh perspective. Students bring a combination of relevant and current classroom information with technological awareness and savvy capabilities that are prevalent in their generation. The experienced faculty and seasoned ICenter management team provide the guidance and organization needed to see each project through to its completion. TO BECOME A PART OF THE ICENTER: Email: ICenter@robertmorris.edu Call: 312.935.4860 or Visit: www.robertmorris.edu/icenter