How Craftpack turns adversity into good business In normal times, the core business of Vlerick alumnus Hans De Smedt is his ‘EverPresent Events’ event agency. However, the COVID-19 pandemic lockdowns brought the events sector to a stand-still in 2020. But adversity clearly stimulates Hans’ creativity, as he created a new concept and brand. Craftpack offers gift packages comprised entirely of local products. In the meantime, it has grown into much more than an activity to make up lost revenue in the COVID period. Read more
Founders are more cautious in their financial forecasts for investors than non-founders In the forecasts they have to report to their investors, entrepreneurs overestimate their revenues for the following year by an average of 22%. Founders are consciously more cautious than non-founders. Investors who apply a standard discount to revenue forecasts therefore run the risk of being quite inaccurate themselves. Finally, over-optimism is penalised. Those who truly exaggerate find themselves being labelled as risky businesses. These are the most important conclusions of a new study on the use of entrepreneurs’ revenue forecasts as a tactic to impress investors. Read more