They calculated that they needed staff of six people, office equipment and free startup incubator at the Blue Ridge foundation in Brooklyn, but this approach required hundreds of thousands of dollars and Flaxman or peter does not have capability to invest the hundreds of thousands of dollars in this project. No doubt in that money is one of the most important things while launching any new venture. So Flaxman had two choices either go for Profit Company or non-profit company.
For Profits Company, money can come from the venture capitalists and for nonprofit organization money can come from foundations.
Second constraint was regarding the sustainability of the new venture, Flaxman was confused that when company is going to support itself from its revenuesfrom the operations.
What financial model and market should Turbovote pursue to fulfill their goals?â€
By looking at the Flaxmanâ€™s interests, we can conclude that Turbovote should pursue the model of non-profit organization. Though it would create more problems for Flaxman, but for the long-term, this model would be beneficial. As companyâ€™s goal is to develop the technological setup through which company can reach to all the voters and everyone can vote in the election. With the non-profit organization, company can create the positive image in the mind of target market and students or college graduates can pay some specific amount to avail this facility.
Non-Profit organization will benefit the company in a way that will create an image for the company that is working for the development of the society, its goal is not to earn profits but to focus on the activities that focuses on the benefit of the society.
Initially Turbovote can target the college graduates and students, they have also the resources to pay some small amount to avail this facility. After that they can go for election officials, they can go to government for the fund raising and can show the prototype of this concept. ………………………………………………………………
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