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Slide 1: Business Plan - YouFind Entrepreneurship - ICS 295
Slide 2: Contents 1 Executive Summary .................................................................................................................................... 4 1.1 Objectives............................................................................................................................................ 4 1.2 Mission ................................................................................................................................................ 4 1.3 Product Summary ............................................................................................................................... 4 1.4 Execution Summary ............................................................................................................................ 4 2 Company Overview .................................................................................................................................... 6 2.1 Company Ownership ........................................................................................................................... 6 2.2 Start-up Plan ....................................................................................................................................... 6 2.3 Company Locations and Facilities ....................................................................................................... 6 3 Products and Services ................................................................................................................................ 7 3.1 Product and Service Description ......................................................................................................... 7 3.2 Technology & Development strategies ............................................................................................... 9 3.3 Future Products and Services............................................................................................................ 10 4 Market Analysis ........................................................................................................................................ 11 4.1Market Segmentation ........................................................................................................................ 11 4.1.1 Market Needs (Opportunity) ..................................................................................................... 12 4.1.3 Market Growth .......................................................................................................................... 13 4.2 Industry Analysis ............................................................................................................................... 14 4.2.1 Main Competitors ...................................................................................................................... 14 5.0 Strategy and Implementation ............................................................................................................... 17 5.1 Competitive Edge .............................................................................................................................. 17 5.2 Marketing Strategy ........................................................................................................................... 17 5.2.1 Pricing Strategy .......................................................................................................................... 17 5.2.2 Promotion Strategy .................................................................................................................... 17 5.2.3 Distribution Patterns .................................................................................................................. 18 5.3 Strategic Alliances ............................................................................................................................. 18 6.0 Management ......................................................................................................................................... 19 6.1 Organizational Structure ................................................................................................................... 19 6.2 Management Team ........................................................................................................................... 19
Slide 3: 6.3 Personnel Plan .................................................................................................................................. 20 7.0 Financial Plan ........................................................................................................................................ 21 7.1 Important Assumptions .................................................................................................................... 24
Slide 4: 1 Executive Summary 1.1 Objectives To provide clear, organized, and useful location-based information and make it accessible to the people based on their preferences and to provide a solution for the vendors that will enable them to give such an experience to their customers. 1.2 Mission We believe technological innovation has the ability to improve lives of people around the world in every corner of their life. We have the belief that the right information in one’s surroundings should automatically be organized and presented to them without any effort. Our goal is to make all the information that both hosts of the places and their guests agree to offer and receive to be available in every single portable device and provide a gateway for them to interact with each others. Using our product, we have the confidence that the owners can provide higher quality of the services to their guests at significantly lower costs and ultimately thus improve the customer satisfaction and experiences at the place they visit. 1.3 Product Summary Our product, YouFind, comprises of two major parts: YouFind Consumer Client: The client application runs on mobile devices, uses the integrated GPS hardware that is shipped with the phones and uses it to provide the most relevant information to the users at fast speed. The client also uses the User preferences and history to arrange the listings and improve the experience. In addition, the client acts as the platform to serve customized shopping outlets for different vendors. YouFind Vendor Client: This web based application acts as the main interface for vendors that use our application architecture to customize and build their shopping outlets. The client allows vendors to choose amongst various workflows, designs, patterns to create the product listings, order pipelines and processing platforms etc. - 1.4 Execution Summary Our company is registered as a Limited Liabilities Company and is located in one of the tech Hubs of the country to achieve the goals laid out. Due to the highly competitive and fast paced market space, we aim to develop our product over a time frame of 1 year with expansion and mergers & acquisitions over next few years. Our beta product line would be ready within four months with the final products being released in half year. We also aim to aggressively negotiate and create deals with vendors starting with our beta product release. 1.5 Revenue Summary Using our product line, we aim to get revenues through a three pronged strategy:
Slide 5: - Vendor Deals and Tie-ups: This forms the major part of our revenue stream. We would be creating tie-ups with various products and services vendors to create customized outlets for them that sell and showcase their products. These tie-ups would either be based on royalties per purchase or subscription based royalties. Advertisements: We aim to use and show advertisements with our free consumer side application. These advertisements would be location aware and provide relevant information to the user, thus catering to their needs. Direct Sales & Subscriptions: As the user base grows, we aim to create a premium client application that can be purchased through similar outlets. The premium application would provide better support, be free of advertisements and allow users to customize and modify the information that they see. The small cost attached to the application allows us to keep the content clean and thus eventually provide the best user experience. - -
Slide 6: 2 Company Overview 2.1 Company Ownership The company is being started by four founders - Avi, Art, Satyajit, Aatish, who come from varied backgrounds in the computer science field. As time progresses and more investments are required, a certain percentage of the company would be distributed amongst investors as preferred or common stocks. The exact terms of investment would be decided later on. The company would initially be registered as a Limited Liability Company with an operating duration of 4-5 years period. The goal of the company would be to later on get acquired by a bigger player in the market or proceed to an IPO depending on the market trends and product positions in market.. 2.2 Start-up Plan As the company plays in the field of Mobile phone software systems, Intellectual property and the Human resources associated are considered to be the most important assets of the company. Owing to the same fact, the investments needed in the company are low while the software is being developed and are mostly used for payroll purposes. This sum would be acquired through an initial seed funding ranging from $100,000 to $200,000. As the product nears completion and becomes ready for market release, the company would need to create ties with different vendors to sell their products through our platform. These negotiations and the large scale testing and deployment would require a huge amount of money. The money required in this phase would be gathered with the help of venture Capitalists with the talks starting as soon as the first prototype is ready to be demonstrated. Months => 0 1 2 1 3 4 5 6 12 18 24 36 IPO/Acquisition Public Release Client for Customers (Beta) Client for Vendors (Beta) Company Created Development Negotiations Marketing 2.3 Company Locations and Facilities As the company values the intellectual talent highly and would require a large amount of negotiations, the company would be located in or near a technology hub with more offices near possible vendors. Owing to the nature of the company, the head quarters would be situated in Silicon Valley. As the size grows and negotiations with vendors start, a second office on the east coast may be considered if needed.
Slide 7: 3 Products and Services 3.1 Product and Service Description Our Product is aimed to deliver the most accurate information about services offered by the various vendors to the end-users when they visit any location around the world in few simple steps. With the service provided by YouFind, the end-users do not need to search for information about places and points of interests surrounding them but simply open up the application and all the information available in the area will automatically be listed for user based on preferences and learning history. In order to receive any information and service that is provided by YouFind, the end-users are required to have the client application installed on their mobile devices. This is a one time only process and can be omitted once carriers agree to have the pre-installed version of the client software shipped with their devices. The service is based on the following common functionalities that most of the new mobile devices are equipped with: integrated Global Positioning System (GPS), Internet access capacity, and built-in multimegapixel digital cameras. Out of these components, Integrated GPS provide the most valuable information - the approximate position of the customer - back to the system, so the system can analyze the position to provide the services around that area through internet back to customer's mobile device. Built-in digital camera provides alternate ways for customer to enter the data into the device which in turn gives customized results after processing the images. The product employs client-server architecture: the first part (server) is information and service management tools that enable the vendors to easily manage the information and services they wish to provide to their guests or customers. The second part is the client side application that runs on users’ mobile devices. The client program analyses the current location and brings a list of available services based on users’ position and requirements back to their mobile devices. Beside the static contents such as the directory, store locations and hours, special events, or history of an exhibit that the system can deliver to the client devices, the system also has the capability to deliver other customized services to allow further interaction between customers and the businesses. YouFind provides various functionalities to the vendors based on this concept. The vendors can easily combine these functionalities to meet their business needs and begin to offer the services to their customers in a very short period of the time. The list of the functionalities YouFind promises to deliver are listed below: Online waiting queue service The idea of the online waiting queue service is to provide a system that can allow the customers to directly get listed in a queue without being physically present. The store can use the same system to inform the customers when they are next in queue. Once the customer receives the notification from the store, they have the following possible options:
Slide 8: 1. They can respond to the notification and get a confirmation number for the service. The customer can then walk back to the location with this confirmation number within certain period of the time to receive the service. 2. They can decide to postpone for some additional amount of time before showing up for the service. In this case a postpone request will be sent to the location to update the status in store's system. Store sends the notification to next in queue and this customer continues waiting in queue. 3. Customer cancels the original plan, and a cancellation request return to the system. System continues calling the next available customer in queue. The store can customize this rule based on their business needs. For example, a restaurant might require the customer to show up once the confirmation number is sent in five minutes, and after this period of the time if the customer does not appear, the system can automatically remove the customer from the list or put the customer back to the queue. This system is designed to provide customers an easy way to receive the service without spending valuable time standing in line waiting to be served. It is a better approach than a pager-like waiting queue device that few of the restaurants currently employed since it does not require any separate device and customer does not need to physically present at the location. To get the service using our system, a user just has to be present in the service range which is determined by integrated GPS in the mobile devices. Through the Internet access, the system can deliver much more information such as the number of persons in queue and approximate time required to be served. With this service, customers will have a better knowledge on managing their time while they are still have other things on hands. Portable catalogs The portable catalogs allow stores to list their products into a mobile-friendly interface so that customers can easily access this information on their mobile devices. This function includes categorized listing, search, and detail view of the product or services that the stores offer. Based on different business model, the stores can also choose to include the quantities availabilities or the physical location of the product into their catalogs to assist the customers finding the products they are looking for. Portable shopping cart Similar to the shopping cart feature in most of the ecommerce-based websites that allow customer to add the items/product into a container, our service allows users to create their portable shopping carts. Based on different business requirements, the items stored in cart can be purchased if the business allows end-users to pay for the items in their cart through their mobile devices. Portable payment This function will allow customer to pay for the services or goods directly from their mobile devices. The function will handle the connection between the client applications to the well-known payment gateways such as PayPal, Authorized.net or Google Checkout to finish the payment process and connect the customer to other functions based on the configuration from subscribers. For example, Coffee shop might offer a ticket to the customer once the payment is completed, so that when the coffee is ready for
Slide 9: customer to pickup, the store can send out a notification to the customer so he/she can use this ticket number to pickup his/her order. Portable invoice Portable invoice allows customers to trace and review their purchases from any subscribed locations at anytime. The customers can use this function to trace their orders by place, item, category or time, so they can always keep a record of their spending and use it to review the status if the order is still open or further attention is required. Information inquire and response feature This feature provides users an easy way to inquire information from their mobile devices. For instance, end-users can use their built-in digital camera to capture the barcode on a particular item, and the application will automatically analysis the barcode to search for the corresponded information or services from this particular location and return the matched contents or services back to their devices. If the barcode is related to a product/service that is also offered in the close range, the system will also list these contents as the related results. Owners can combine any of the services together to meet their own business need. For examples, a restaurant can use the online waiting queue service to accept their customers to enter the queue while they are not physically present in the restaurant but is very close to it. After customers are seated and ordered, the customers can use the portable invoice service to review their orders and cancel one of the orders if the order has not yet been processed. A museum can use the information inquire and response service to allow the visitors to use their integrated digital cameras to capture barcode on an exhibit for inquiring a more detail description/history or the related activity regarding the display. YouFind service functions as a bridge between the end-users and the location owners in the mobile world. 3.2 Technology & Development strategies The entire solution covers both client side application which will need to be installed into any of the client mobile devices, and a management application which the responsible entities or management companies use to maintain the server side operation such as managing the queues, handling the purchase orders, or maintaining the catalogs or contents. Since there are so many different type of the platforms that exist in the mobile device market, providing a service on one platform might not work for the user who carries different types of the mobile devices. YouFind provides a platform independent solution to the corporations or the responsible entities, thus enabling them to focus on improving the quality of service and content quality rather than spending time on development of applications that can run on different platforms. YouFind uses the Software Development Kits provided by each of mobile platforms to design and develop the client application and framework. YouFind will first analyzes the limitations that are set on each mobile system and comes up with a design that can be executed on all types of the platforms with minor or no differences in the user experience.
Slide 10: Our service depends highly on the negotiations with specific vendors for customized services. Thus customized content availability can be one of the major problems at the release of our product. To solve this problem, YouFind also hosts the static content which provides the basic information for any of the locations so even when there is no any special service being offered in a particular area, end-users can always use the application to know basic information like the product categories and details on other services. To extend the database, our system is also equipped with a data mining technique that will automatically scan the information from all the openly available sources over the internet (such as public company, store, location registration information, official web pages for the positions, or related creditable sources that contains the information for the location) and analyze all the information to build up initial content repository. 3.3 Future Products and Services Although YouFind will try to provide as many different functions to meet the corporation subscribers' needs as possible, there will always be some unique requirements that the listed functions can't fully cover. For the long term operation, YouFind is planning to release an open API which will allow other corporations or development companies to be develop additional work-flows based on the platform. Through YouFind's online subscription system, these new functions will also be available for other subscribers to subscribe, so the third party developers can also actually "sell" the workflow designs for this platform with minimum service charge to help YouFind.
Slide 11: 4 Market Analysis 4.1Market Segmentation In the emerging markets (for example, India), the current situation is particularly attractive. These markets have seen a high proliferation of mobile in the recent years. In India, there are 200 Million mobile phones today and the figure is estimated to be 350 M by 2010.[Global Technology Indicators 2004 - 2010 Published Mar 15th 2008] The current percentage of internet-enabled mobile phones is low compared to US market. In the following years this percentage will increase. However, even with a internet enabled mobile, a user in India is not likely to access the traditional internet because of various socio-economic reasons. Because of these socio-economic reasons, an information service with audio and video content accessible from any mobile phone and navigable just by the number keys on the phone can revolutionize the mobile information industry in India and similar emerging markets. In such markets, this kind of service can be the only means of accessible and useful information. Market segmentation for our service is conducted using demographic, geographic and behavioral data. Mobile phones have tremendous market penetration which has surpassed land-line (wired) phone in developing countries. So our aim is to target the mainstream mobile users on regular GPRS and CDMA wireless network rather than just the niche market segment of 3-G networks using high-end mobile handsets. The business model we are proposing positions our service in the consumer market. Our overall business intent is to categorize consumer base of similar customers and potential customers; to prioritize them, to understand their behavior and to respond with appropriate marketing strategies that satisfy the different preferences of each chosen segment. Improved segmentation leads to significantly improved marketing effectiveness. We will offer our services to three sections with unique value proposition for each of them: Vendors First, we will concentrate on local businesses like hotels, restaurant, movie theatres, etc. To these vendors, we will offer the service of hosting information sites which are easy to create and easily accessible by their customer. The businesses will be able to host a lot of information about their product or services in audio-video-text format like the internet. Customers The information will be made available to the users i.e., their customers based on the location data realtime, access the site using any mobile phone. This means to provide, truly “mobile” information will be a unique value for the businesses not available from any other way including the current internet. Hence this has the potential to be massively adopted by many local businesses Advertisers The advertisers will know that we host a lot of information which is generated locally in the belt of operation and browsed by a lot of users daily. Moreover, the content is tagged to the location data. Therefore this represents a unique opportunity for the advertisers to direct targeted advertisements to the users based location. The company will charge a monthly subscription fee from the businesses to set
Slide 12: up and maintain the content. The company will provide flexibility to the customers to upload content to the sites several times in a week without any extra charge. The company must provide absolutely free service to the users to search and browse the information. The company will make the majority of the revenue from targeted advertisements. The company may need to come up with innovative strategies to maximize revenue using tag-based advertisements. 4.1.1 Market Needs (Opportunity) In the current scenario, there exists an opportunity to provide useful and easily accessible information to the users of mobile phones. This opportunity exists throughout the world in different markets, specifically the emerging markets. The investment in mobile phone and its infrastructure and derived services provide significant benefits to the developing economies like India and China. It is important for developing countries to have such technology and benefit from it in order to further their economic growth. Since the intensity of cell phone and telecommunication technology adoption in general is itself significantly dependent on the level of economic development and competitiveness of nations. This opportunity of providing information service on mobile phones will depend on the dynamics of this casual connection of telecommunication technology services that accelerates economic growth, which in turn, creates the demand for more telecommunication services. According to a report from Telecom Regulatory Authority of India, approximately 5 million new mobile subscribers join the ever growing population of mobile phone users every month [Study paper on financial analysis of telecom industry of china and India] as compared to the total PC penetration of 5 million in 2005-06. Because of widely available content and attractive services offered by mobile phone operators, more and more subscribers are signing up for services other than basic calling and messaging. However, in India, for a large group of people mobile phones are the first and only interactive digital media they directly operate and experience. A majority of these phones are based on interaction paradigm that is directly adopted from the realm of computers, i.e. menus, windows, file systems, etc. Also, factors like screen size and display resolution make mobile phones a unique device to operate We believe, because of this there is huge gap between user’s mental model of interaction with the everyday objects and the interaction model of Internet on mobile phones. It is necessary for us to probe, what happens when a mobile user who has never used a computer, does not know what internet is - wants to access and share content using his Mobile phone. It is also important for us to know factors such as whether the user will be able to use the mobile browser when he does not even have a conceptual model of what a browser is and how to use it. What factors we should consider while designing browser or mobile based internet applications for businesses to prosper. The reason of avoiding to setup the service model in the mature markets of the US and Japan are due to the market saturation and presence of other modes of communication. The easier availability of other modes of information access like laptops and information kiosks in the US and Japan renders the primary usage of mobile phones to just voice message systems. In US market the percentage of internet enabled mobile phones are far greater when compared to emerging markets. However, there exist form factor issues in using internet on mobile. Such form factor issues are likely to remain in future even in high-end mobile phones. Therefore, there exists an opportunity to provide information in a way that is a) more user friendly and accessible than the internet on mobile and b) as useful as the internet.
Slide 13: 4.1.3 Market Growth The ability to access information on demand at any location confers competitive advantage on individuals in an increasingly mobile world [Mahadev Satyanarayanan: Mobile Information Access: Accessing information on demand at any location]. As users become more dependent on this ability, the span of access of data repositories will have to grow. The increasing social acceptance of the home or any other location as a place of work is a further impetus to the development of mechanisms for mobile information access. Internet and Mobile data services have been instrumental in the rapid growth of information technology. As a technological phenomenon, Internet has helped in the penetration of IT based services to the core of Indian business and society at large. And mobile and wireless technologies are helping in extending the value proposition of IT based services Anywhere, Anytime and in a way that includes the power of ‘context’. Data from Wireless World Forum’s Indian Mobile Market 2008 statistical handbook reveals that mobile ownership has passed 100 million in 2007 as the largest middle class in the world takes up ownership. With 200 M forecasted mobile owners in 2008, India ranks 3rd in the world behind only China and the USA. The vision of the venture is to provide information service that is easily accessible from any mobile phone and delivers relevant and useful information to the people throughout the world. There is a clear opportunity in emerging markets like China, India as well as US market to provide relevant and useful information through mobile phones. The core of the venture is to create a new form of application and features providing valuable information to the users on the go which can accessed from any mobile phone. Multimedia information support such as audio, video and text content would be made available to the users on the mobile interface. The venture’s mission is to create a facility to host such information sites which can be easily created, accessed and browsed using any mobile phone. One major aspect of the business model will be to setup servers which will host the information content and allow quick and easy delivery of relevant information on demand for their customers. The mobile users who interact with these content providers to easily access the hosting servers and browse through the content and advertisers to send targeted advertisements to the users. The venture provides unique value proposition to businesses/ vendors, end-users as well as advertisers. Individual businesses will host their content and the service will be an interface between the vendors and the customers. The facility will allow to easily create online shop fronts with customer tailored functionalities like live events tagged with geographical locations. The content will be designed based on the customer spending data and the demographics of the region. The service will allow easy upload of information in audio-video-text format using mobile phones. The users will be able to discover these sites using internet facilities on their mobile handsets and could search and browse between different vendors. The users will also be able to browse through the content of the site using the keys of the mobile phone. The content that is generated by the businesses will be tagged using a standard set of tags and sub-tags. For the advertisers, there would be an unique opportunity to send directed advertisements to the users based on the tags of the content. Our business strategy will be to enter the emerging markets of India and China with huge user base of mobile phones.
Slide 14: 4.2 Industry Analysis Mobile value proposition In India, the primary drivers for mobility are accessibility and less dependence on the fundamental last mile infrastructure. And given the near ubiquity of coverage, mobile access has become/is becoming powerful access medium for internet access as well. Also beyond the value that mobile technologies bring in terms of easy and ubiquitous access, mobile technologies comes with their inherent advantages not available with traditional Internet access. [excerpts taken from Puneet Gupta: Need and Relevance of Mobile Based Information Services in Emerging Markets – India] These include     Location Identification Higher levels/relevance of presence awareness Context awareness Anywhere, Anytime information access Often the value proposition of technology or phenomenon like mobile internet is different from an end user’s perspective compared to an enterprise. Though in many cases there is a linkage between the two. While mobile internet can be an easy and effective channel for an enterprise to expand the reach of its services, at the same time it can turn out to be an effective access mechanism for the end user to consume those services. At a broad level, the mobile Value proposition to an enterprise can be looked at as • A new channel to reach out to customers and employees alike. • Another self service channel: As end users start getting used to experience a wide range of mobile voice and data services using mobilizes, an implicit demand to be able to reach out to your business is emerging- Self service via mobile channel can be a killer App • Employee enablement. Providing the right data, applications and mobile tools to your field service can substantially enhance productivity and effectiveness, factors that have direct impact on day to operations and real customer service • Expanding to far-out and less accessible rural areas where having a physical presence may not make sense. Very cost effective in virtually extending your enterprises to wherever your customers are, also acquisition of new clients 4.2.1 Main Competitors As we develop the application on a location aware platform, we use the location information to tag the targeted advertisements and store information. Moreover, both pull and push approach will be devised in the application where the consumer could seek context aware business information and accompanied by the advertisements with content locally targeted. This helps in streamlining local business marketing by reducing large amount of noise present in consumer targeting through other one way mainstream
Slide 15: communication medium like television and radio and SMS and mobile channels. Location based targeting also allows for much more effective advertisement channels, thus higher revenues per view. This would also ensure quicker attention, eyeball grap of the consumers for the shopping events taking place in the neighborhood. Tie-ups with local companies as well as chain business owners to sponsor their targeted advertisements. The company will launch the service first in Indian market, tune the service based on the feedback and then introduce the service in China. Before taking a detailed look at our short-term and long-term strategy, let us understand our possible competitors. Our main competitors are the traditional GPS services. Geographical positioning system (GPS) has many features chunked in under points of interest which the user could access based on the reference point on his current location. But, GPS is too specialized a product for route display and location detection. Present GPS models in the market are quite expensive beginning in the range of $150 moving upwards to $750 for high-end ones. Moreover, the current state-of-art GPS receivers are bulky and energy inefficient and difficult to carry around. Most of the models do not have internet connectivity and tracks the location through latitude/ longitude information provided by the satellites which is in turn displayed on hard-coded street maps stored in the device. Primary usage of conventional GPS is in-car navigation systems and route display and not targeted marketing. Here, we are focusing on this opportunity by coming up with a mobile solution of location aware information streaming on highly accessible mobile hand-sets. Our other main competitors are media businesses.      Mobile service providers - carriers who provide similar services (Vodaphone, RIM, Airtel) Google search on mobile phones [http://www.google.com/mobile] Mobile application Around Me[http://www.tweakersoft.com/mobile/aroundme.html] Google Maps, Yahoo! Maps, Live Maps, Map-quest and live traffic on mobile browsers. The companies who are in present day internet space and have long term goals regarding information services. A good example is Google with its new mobile development platform android which provides the GPS support could come up with context related marketing model in near future. The national companies which provide information, news, entertainment over internet. Example: - Indiatimes.com and News channels like Hindustan Times.  It is clear that with this new format of mobile information site, we would be the pioneers. Currently, there is no service tailored for the mobile users like the one proposed by us. But let us consider what are the possible barriers of entry. There is no technology barrier. This service does not require a high technology either for development or maintenance. We should be in a position be prepared to scale up very fast. We have to create a large user base and get a lot of customer generated content. This implies that we need to create and maintain a very good infrastructure which enables us to acquire new customers and users quickly. The user base and the customer generated content hosted by our facility will create the required barrier to entry.
Slide 16: Even after we have a barrier to entry, it is expected that there will be other companies offering to host sites. By then, we must be in a good bargaining position because of our large user base and large amount of customer generated content and partnership with local businesses and content providers. At that point, our strategy should be to provide APIs to other hosting companies so that the content hosted on their systems are searchable by our users and tagged by our universal set of tags. We should be able to direct our advertisements to our users based on the geographical position. Such a strategy to partner with other hosting companies is necessary because our long term vision is to provide information to people, not to host information. Ideally we should be in the business of tagging the information hosted in different systems not owned by us, provide the information to our users and generate revenue through advertisements.
Slide 17: 5.0 Strategy and Implementation Strategy: We aim to target all corporate organizations so as to foster their businesses. At beginning of the developing stage, we will focus on building a platform with basic services that will enable corporations the abilities to subscribe and configure the services based on their needs. Since we will have our platform that can provide services to Customers who uses mobile phones, organizations can develop customized services abiding by the rules of our platform. This service will enable all Customers to use exciting services( like, ordering a coffee at Starbucks when you are few blocks away from the store, or, ordering a movie ticket while you are on the run). In this fashion, there is no need for people to wait at the destined shop/restaurant/any place for that matter. 5.1 Competitive Edge Since the location-based services are one of the hot topics that many of the corporations are focus on, YouFind closely analyses all the currently available approaches or the under development projects and comes up with a list of the advantages that takes steps ahead than the rest of the potential competitors: 1. Partnerships with corporations 2. Highly *customizable* interface 3. Free to user, i.e. The user doesn't need to pay a single penny to use the application. 4. All in one device - The application is available on phone instead of a separate GPS device hence the user needs to carry only one device around. (It can be used when the user is outside the car.) 5. It is possible to work without internet connection (though this is going to limit functionality.) 6. Personalization of the application by the user. 5.2 Marketing Strategy 5.2.1 Pricing Strategy Since the client-side application will be free for all the end-users to download and use without any restriction, YouFind aim to create a subscription based business model that directly charge the services subscribers, which will be the corporations who subscribe the services for their customers, for the services they subscribed. The subscription fees for each service will be based on different service plans or the transaction usage. Which means that business can take the advantage to choose the subscription plans that can benefit them the most. As we understand the financial difficulty that the current economy brings to most of the businesses, our flexible pricing plan can encourage the organizations to participate without adding a huge financial burden to their businesses. 5.2.2 Promotion Strategy YouFind understand in order to build up a success business, the end-user is always the key. More endusers can make our services become more attractive to the potential subscribers, and more services
Slide 18: subscribe by wide range of organizations will also bring more end-users to the platform. We understand the relation between the grow of the user base and content providers must glue closely with each other to keep the company grow. Therefore, YouFind comes up with the following strategy to achieve this goal: 1. Ads on social networks 2. Social Recommendation - In other words, the advertisement is going to be via word-of mouth, i.e. people will recommend the application to their peers and friends. 3. Alliances with corporations to show ads on the location/website (e.g. ads in Starbucks outlet/website) 5.2.3 Distribution Patterns The success of the business is based on the amount of the users who are using the application as they move from place to place, so how to make our client application become accessible to the end-users become the primary task to the company. Based on the nature of the mobile device market, YouFind comes up with the following patterns to distribute the client-application: 1. It will be distributed via the established App stores for iPhone, G1 Android Application store and Blackberry. 2. We will have our own independent website that will allow users to download and install the application directly to the phone. 3. Partnership with Cell phone manufacturers to distribute the application when the phones are shipped. 4. Partnership with Cellular Carriers 5.3 Strategic Alliances We will build strategic alliances with our customers. Customers for us, are all organizations who want to promote their products by deploying our platform. Since these corporations will build applications on our platform, we will have contracts with them.
Slide 19: 6.0 Management 6.1 Organizational Structure YouFind would start out with a total of 4 founders. Aatish, Art, Avi and Satyajit are from different fields namely the Computer Science, Communications and User Experience. Initially, during the startup and the development phase, each of the founders will be contributing to the technical aspects of the product while taking up responsibility of one field from the following.  Product Development  Company Relations  Product Marketing  Human Resources As the company looks out for more funding and gets ready to launch the product in market, The Company would look out for a dedicated employee to manage the business and administration aspects of the Company. 6.2 Management Team The interdisciplinary nature of the problem and the solution envisioned would be best addressed by the group of graduate researchers from wireless communications, geography & geo-positioning technology, visualization and informatics streams are accessible. The university would provide a cost-effective development ground with access to knowledge, resources and cheaper man-hours. We have the required awareness in this field and necessary network to build up a team working together to develop this concept. Currently, the entrepreneurial team consists of 4 members. The current members have a good base in technology and a few years of work experience in mobile application development. The projects carried out the various members of the team include:   Location detection using GPS enabled mobile handsets and mapping the location and time stamps on Google maps. A wireless system that enabled users the ability to use their mobile devices to interact or gather information regarding the current environment. Besides providing the information such as the maps, directory, history, hot deals or much other information, the system will also provide customers/tourists the ability to interact with current environment. Mobile Stock trading application – This application maintains the stock portfolio of the user and provides an ubiquitous solution to stock trading. A system which provides all kinds of GPS services for mobile phones and keeping car records.   Moreover, we have a good experience and understanding of emerging markets. To build this idea and to start the company, we need to acquire following skills:
Slide 20: • • • Sound knowledge and experience in design of user interface and Human Computer Interaction with good understanding of audio, video and text and how such media are perceived by users. Extensive experience in database creation and maintenance and in setting up servers with effective CMS and in deploying and maintaining database of the customer generated content. An experienced marketing person. This person would deal with the internet service providers and individual content providers/ businesses and how should we a create a good visibility for our company. With the present team members on board, we would have an entrepreneurial team with sound technological background ready to create a detailed business plan including a detailed financial plan. We would also be able to ascertain what kind of resources – physical and human we would require. Next step would be acquire financial resources and start the operations. Under the current plan, the management team at YouFind would comprise of various members listed below:    Founders (Aatish, Art, Avi, Satyajit) Members from investors(maximum of 2) Chief Executive Officer (To be hired) These members would serve as the Board of Directors and would be controlling the day to day activities of the Company as well as the long term Business and product strategies. The team would strive to sect the best person for a particular job and would look out for best minds both inside and outside the company who are suitable for and of the vacant positions. 6.3 Personnel Plan As the product being developed in technology space with very less requirements for human resources at earlier stages, the company would not hire significant number of employees during the incubation period. To cope up with the requirements of technical expertise, the company would take help from consultancy firms and outsource certain product development tasks at later stages. The only exception to above rules would be to hire the CEO and in cases where hiring an employee would be more suited to the company then the alternatives.
Slide 21: 7.0 Financial Plan As stated earlier, the company will start its operations by enter emerging markets in India followed by the market response will replicate the adopt the model for the largest market in China. The financial plan is devised for Indian market currently as I have done extensive research and well abreast of the mobile usage pattern in the Indian market. The cost of a mobile phone call is INR Re. 1 per minute ($ 0.02). The cost of an SMS gateway service provider is Re. 0.50 ($ 0.01) per SMS. Internet data access costs are currently have high degree of variability depending on the region and service providers ranging from Rs. 200 – Rs. 1000 per month plus additional charges for data transfer. Every cell phone can technically be used as a data access device. One can use GSM data bearers to get circuit switched data connections at 9.6 Kbps or so, the cost and complexity in this access mechanism doesn’t make it a very practical option for most application. GPRS based packet data access, is the practical alternative offering decent internet access capability and in a cost effective manner. Issue, however is GPRS support in handsets and availability of service. The operators have been offering GPRS services since 2003 and the effective coverage and the quality of coverage has been expanding over the years. Today speeds are being offered that compared favorably with basic rate ISDN. CDMA (CodeDivision Multiple Access) providers offered speeds as high as 256 Kbps. Even where Wi-Fi is available at hotels and other transit points, users find it more convenient to use their existing GPRS or CDMA services rather than struggle with configuring to use the local Wi-Fi network. The business strategy will be to operate in markets in separate regions. We will begin operations starting with the major city having the maximum density of users. We propose to start up with 4 different regional belts and subsequently spreading a) West – Mumbai-Pune b) South – ChennaiBangalore c) East – Kolkata-Guwahati e) North – Delhi-Chandigarh. We should introduce our service accompanied with a good advertisement and communication campaign. Our goal should be to create maximum awareness in the selected cities and scale up rapidly. The following projection of financial position, results of operation, cash flow and break even analysis assuming a seed funding of Rs.1,00,00,000($200,000 - conversion factor $1 = INR 50) at the beginning of the setup. This reflects our assumptions and management's judgment based on the current scenario, expected conditions and its expected course of action. The funding will be broken down over a period of time. The milestones for first year of operations include beta release of the software platform in 6 months with expected beta end-user reach of 1,000,000 by the end of the year of producing content. We estimate 5,000,000 to use this freely available platform to browse through content providers at the end of the first year. To meet this goals an expenditure of $1M is estimated in the first year.
Slide 22: Projected expenses for the first year. Expense Type Infrastructure and Rent Salary Operational Utilities Marketing Campaign Health Care Insurance + Benefits Hosting Infrastructure Software Total Amount in USD 150,000 200,000 55,000 10,000 300,000 100,000 40,000 50,000 1,005,000 We would device a conservative approach to expenditure. The initial funding money will be used mainly in product development, branding, marketing campaigns, employee salaries, sales and training. Resources and salaries will not be ramped up unless the venture launches the product in beta version in the market and draws a large user base. Projected expenses for the Second year Expense Type Infrastructure and Rent Salary Operational Utilities Marketing Campaign Health Care Insurance + Benefits Hosting Infrastructure Software Total Amount in USD 300 000 500 000 75 000 20 000 600 000 200 000 100 000 70 000 1 865 000 The growth of user base and increase in the number of deals without business clients is expected to raise enough money required on infrastructure, support, operations and be profitable. Funding on the
Slide 23: third year will be targeted to expansion of the company to new markets and segments of population and expand the company's operations into other emerging market opportunities. Revenue projection The company expects to acquire about 10000 customers per month per belt. This is equivalent to saying that the company will set up 40000 individual information portals in the system every month hosted separately for different belts. 350 300 250 200 150 100 50 0 Commissions Direct Sales Advertisements Vendor Deals 1 5 9 13 17 21 25 29 Cash Flow: Post Release - Expenses Post Release - Revenue 33 Advertisement Tie-ups Commisions and Sales Equipment Payroll Infrastructure
Slide 24: 7.1 Important Assumptions There are a few uncertainties and risk in this venture. While the fundamental value proposition of mobile access to information and mobile transactions is clear, it is important that we address the key complexities associated with mobility and find out ways to effectively deal with those challenges. Some of the key challenges are listed below: • Managing Device Diversity. There are several hundreds of mobile devices out there each with different form factors and underlying technology platforms. Building solutions that scale across these device types is a challenge Context sensitivity: Dealing with user contexts, device contexts, network contexts and application contexts which keep changing and hence the application needs to evolve its behavior as the underlying context changes Planning for but not assuming any-where, any-time internet connectivity. While a solution should leverage the almost ubiquitous connectivity that is available, the solution must take into account the fact that internet connectivity can just disappear in the most unexpected of ways Right approach to Security: Application architectures assuming low network level security and not depending on how secure individual apps are written to be Minimizing the cost and complexity involved with mobilizing apps and whether the usage would be affected if we are not covering the cost of the mobile phone access by the users. If the usage is affected because of the cost of mobile phone access, we have to come up with innovative strategies to recover such cost from advertisements. Aligning to the right set of technologies for the business needs. • • • • •

   
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