How is InspiredMinds! creating revenue?

I am completely transparent about the fact that as a business we now turn over around £6 million a year in terms of revenue. I would say 60%-70% of that traditionally came from our summits but that has changed due to Covid. The rest comes through subscriptions to our community and individual projects.

For example, we will sometimes work on behalf of some of our partners to look at big diversity projects and how we can help to set up global communities in places such as Africa or India. Our revenue with Covid has been challenging, we haven’t run any events physically since January 2020, all of them have been online. We have run podcasts and webinars, some of those are charged and some of them aren’t.

I wanted to touch on the aspect of Marketing, you don’t have a marketing department but you do have a data scientist. Why is that?

Marketing is an integral part of what we do but it is interwoven into our business and everybody is constantly doing it. As for the data scientist, I have a vision in my mind about what I want to create within our community. I want individual profiles with granular level detail about our individuals, not just their job function and what they’re looking for but the triggers that make this critical for them.

The data scientist is building a point-based system around it and started to create this framework which looks at different categories and segments of people and who should therefore meet, match, connect, and help each other. We are building algorithms around that, it’s not there yet, it’s not in its finished form but from our point of view, it is giving us great insight into our individuals.

You have also hired a poet to help articulate your messages, tell us a bit more about that?

It was really by chance, Amanda Palmer, a musician posted something about supporting women throughout the pandemic specifically artists. One of those artists was a young lady called Megan Beech who is an up-and-coming rising star in a thing called Slam Poetry which is the art of telling stories by prose and doing it in a Rap style. She brings to life stories and really gets people to sit up and listen. She has joined our team and is rewriting the way we talk to our community and how we address big issues.

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