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o GTD will be working towards the peoples choice and price range
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Business Model
How our product works: o The customer creates an account on our GTD website so that they will have their own personalized wish list which can be publicly viewed by others as well List contains information on products which they hope to get discounts on. This includes the product name, price, indicative discount etc.
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Business Model
o The customer checks in their location through the smartphone app when they see a product they wish to add onto their list. They can upload the photo or even scan the barcode of the item so as to better identify the product and prevent duplicate entries from fellow GTD users The website is used to review their lists, all check-ins, modify their lists etc.
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Business Model
o Once a deal reaches critical mass, our team will approach the store to start negotiations o If the negotiations are successful, we contact all the people who indicated an interest in the bargain. This is to inform them of the finalized price and to confirm if they are still interested
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Business Model
o Confirmed buyers will receive an e-coupon through email o Merchant pays GTD commission on successful sales
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Market Analysis
Target Market: Early adopters, fairly affluent with disposable income
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Benefits to Merchants
o Brings valuable customers to little-known companies o Guarantees paying customers o Customers are not looking for the perfect deal- theyre looking for the perfect excuse to try something new
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Benefits to Customers
o GTD acts as a city guide, pointing people to all the great stuff they have never tried or heard about before o Deep discounts o Access to new services/merchandise based on deal personalization upon voluntary disclosure of preferences o More user friendly and adhering to users need than competitors'
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o o o
Ebay
Local newspapers
o o o
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Approach
o Web-based startup o Web site support
o Mobile OSs
Android Blackberry OS iOS Windows Phone 7
Symbian
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Mobile
o Ease of use o Location enabled o Barcode Scanning facility
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Web site
o A support service over mobile application o Easy way for users to review their lists
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Resource Requirements
o Server Dedicated Linux servers o Rackspace Cloud Storage
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Quality Assurance
o Web application Browser compatibility Security o Mobile platforms Android fragmentation
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Positioning
o GTD aims to project itself as the best place to get the deals that the customer wants. o From the customers point of view: provides best opportunity to get a good discount on products chosen by them.
o From the business point of view: increases sales of products, gain a better understanding of the customers wants and needs.
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Pricing
o Main source of revenue for GTD is through commission on successful sales: 20% for smaller businesses 30% for bigger companies. o Revenue is also generated from ads. $0.10 per click $0.01 per view.
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Advertising
o Online advertising Google ads, ads on the websites of companies with whom we have tie-ins, etc. o Social Media Advertising on social media, like Facebook, Twitter etc. o Website Provide additional advertising in addition to learning about services. o Posters Increase awareness by putting up advertising posters in participating outlets.
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Promotional Activities
o As it grows, GTD can have various promotions to attract and encourage more companies o For example: companies may be charged lesser commission for the first 10 products or so that have successful deals.
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Sales
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Finance
Source of Funds
o Main source of Income 6 founders. o Sum of S$ 5,000 each o Total Sum of S$ 30,000. o These funds would be at companys disposal for FIRST YEAR o Business expansion in future will lead to raising more funds from VC/Banks
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Use of Funds
o Service-based business dependent on Website and Smartphone applications. o Few funds are required. o Initial Setup will include Rental Expenses Setup cost of computers and servers; Maintenance cost of broadband connection and rented office etc. o Main emphasis is to create BRAND VALUE
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o Go-Live in 2nd Quarter of first year o Revenue of almost S$ 114,000 in the first year o Growth rate of more than 40% every year
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Income
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Break-Even Analysis
o Break-Even in the SIXTH month of FIRST YEAR
Finance : Year 1
$30,000 $25,000 $20,000 $15,000 $10,000 $5,000 $0 Jul Aug Sep Oct Nov Dec Revenue Cost Income
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Types of Risks
Risk - The existence of a vulnerability that could cause exceptionally grave damage to the viability or the operational effectiveness of the SDS.
o Technical Risks
o Competitive risks o Security Risks o Economic Risks o Financial Risks o Other Risks
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Technical Risks
o Technical problems occurring in workstations
Solved by doing frequent back-ups
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Competitive Risks
o Threat of new competitors o Facebook
Large amount of users.
o Groupon
Big Sales In 40 countries
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Security Risks
o Intellectual Property
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o Financial Risks
insufficient cash
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Other Risks
o Unforeseen problems o Natural Disasters
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Conclusion
Conclusion
o Group-buying scheme, aims to allows customer to choose reasonable discounts on products o Online and smartphone-based application that allows users to choose products from stores in their vicinity, specify discount o Target customers include early adopters and affluent individuals with disposable income o Main source of income is from commission received on successful sales of discounted products
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Conclusion
o Break even before the third quarter of our first year in business o As we expand, the recruitment of personnel for different departments will increase. We have kept various human resource management strategies in place, as job-satisfaction of our employees is as important to us as running the business
o Have prepared many contingencies for a variety of critical risks, ranging from technical to economic
o Hope that in the future we will be able to expand operations
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Thank