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Entrepreneurship Project

Essay by   •  December 16, 2011  •  Case Study  •  9,448 Words (38 Pages)  •  1,664 Views

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TYPE OF ORGANIZATION: SERVICE

PROPOSED NAME OF THE BUSINESS: MYBOOKS.COM

MEDIUM OF COMMUNICATION WITH CUSTOMERS: WEBSITE AND E-MAIL

A WORD FROM US

In today's Pakistan, where fuel prices are skyrocketing and inflationary pressures are having a great effect on the consumers' disposable income, it is becoming increasingly difficult - rather impossible- for students to buy high quality books to carry on with their studies. Such situation forces them to turn towards the valley of pirated books which have low print quality and pages which are conducive to ink spread. Sometimes, you cannot even read the headings to see what topic you are on while some books have missing diagrams, page numbers, labeling or most importantly the exercises and problems. Such situations arouse feelings of anger in students when they don't get what they want at the right time. Imagine yourself sitting besides your study table and planning to solve an accounting problem from your cheap pirated version for preparing for your final exam and as soon as you start reading it you don't see a thing! Angry? Don't worry because we present a solution to your problem.

In the following pages you will discover what we can do about this problem and what opportunities are available in the market to create a business and fill this opportunity gap. You will see a detailed description of the product, its feasibility in Pakistan, capital requirements and funding, business model, and an operations flow diagram as well to let you know how this is going to work. You will also see all the costing steps you need to take to get this business going and all the suppliers you need. We hope that you will be convinced about its success in Pakistan in these difficult times.

Contents

EXECUTIVE SUMMARY 1

OPPORTUNITY RECOGNITION 2

EMERGING TRENDS IN E-COMMERCE INDUSTRY IN PAKISTAN 6

EMERGING INTEREST IN ELECTRONIC BOOKS 8

CONCEPT STATEMENT 10

DESCRIPTION OF OUR SERVICE 10

INTENDED TARGET MARKET 10

BENEFITS OF THIS SERVICE 10

POSITIONING RELATIVE TO SIMILAR PRODUCTS 10

DISTRIBUTION 10

FEASIBILITY ANALYSIS 11

INDUSTRY ANALYSIS 11

INDUSTRY ATTRACTIVENESS 11

MARKET TIMELINESS 12

IDENTIFICATION OF NICHE MARKET 12

PRODUCT/SERVICE FEASIBILITY ANALYSIS 12

CONCEPT TESTING 12

USABILITY TESTING 15

ORGANIZATIONAL FEASIBILITY ANALYSIS 15

SKILLS REQUIRED FOR THIS BUSINESS 15

FINANCIAL FEASIBILITY ANALYSIS 15

CAPITAL REQUIREMENTS 15

CAPITAL STRUCTURE 15

PRICING OF BOOKS 16

FIXED MONTHLY EXPENSES 16

ESTIMATED RATE OF RETURN ON OUR INVESTMENT 16

COMPETITORS' ANALYSIS 17

DIRECT COMPETITORS 17

INDIRECT COMPETITORS 17

FUTURE COMPETITORS 17

COMPETITOR ANALYSIS GRID 18

BUSINESS MODEL 19

CORE STRATEGY 19

A) MISSION STATEMENT 19

B) PRODUCT/MARKET SCOPE 19

C) BASIS FOR DIFFERENTIATION 19

OPERATIONS DIAGRAM 20

STRATEGIC RESOURCES 21

A) CORE COMPETENCIES 21

B) STRATEGIC ASSETS 21

PARTNERSHIP NETWORKS 21

SUPPLIERS OF E-BOOKS AND PAPER BOOKS 21

CUSTOMER INTERFACE 21

A) TARGET CUSTOMER 21

B) FULFILLMENT & SUPPORT 22

C) PRICING STRUCTURE 22

PRO FORMA STATEMENTS 23

PRO FORMA BALANCE SHEET 23

PRO FORMA INCOME STATEMENT 23

EXECUTIVE SUMMARY

In Pakistan, where students and teachers are equally in trouble regarding the availability of international books and where high print quality books are becoming out of reach of everyone due to high prices, pirated book sellers are taking over the markets and have started creating a monopoly in the market. You can go and see for yourself. Go to any book shop in Sadder, Rawalpindi. Either they don't have the books or even if they have one it is in a poor condition. You might have encountered such a situation like "Excuse me Mr. the print quality of this book is poor and I cannot even see the headings what am I paying for?" and he might have replied "Sir, all books are the same so you can check all the books and find the one which has a better print. We only sell pirated versions nobody can afford better versions."

We present a solution to this problem. We will provide all the books at low prices! We will adopt the online medium of selling books and this will greatly reduce the book prices. Our main idea is to buy an electronic copy of a book and sell the same copy as many times as we want in electronic form. And the books which are not available electronically will be purchased in hardcopy form and scanned and then sold in electronic form. Customers will be offered two choices for using our platform (website). One, they can register on our website, create and maintain their profiles and buy books by paying at the spot. They can buy books in chapters or the

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