We would like to take this chance to give our deepest appreciation to the Entrepreneurship Project Coordinator, Ms. Last but not least, we would like to thank the advice given by those who provide help during our projects.
EXECUTIVE SUMMARY
The Opportunity
The Description of the Business
Competitive Advantage
The Management Team
Brief Summary of the Financial Projections
Description of What the Business Needs
Exit Strategy for Investor
THE BUSINESS
The Description of The Business
- The name, logo, and location of the proposed business
- Nature of Business / Product or Services Offer
- Company Missions and Objectives
- Problem to solve or need to be filled
- How the proposed business solves the problem or fills the need . 11
- Description of the business model
- How the business will create sustainable competitive advantages16
- Description of where the business stands today and what the
Helping the student perform better and creating multi-layered benefits that encourage them to be first to market will be a strong competitive advantage for the company. In the future, more features will be added to improve student performance, such as providing a quiz and mini-test.
INDUSTRY ANALYSIS
Industry Description
- Industry trends
- Industry Size
- Industry attractiveness
- Profit potential
Since our application is the support of online learning, the only substitute is the most advanced technology such as the Metaverse concept. The secondary source of data confirms that the needs of online learning support tools are the main concern of the student and the teacher.
Target Market
University Students
Competitive Position within Target Market
MARKETING PLAN
Service Feasibility Analysis
Full description of the service offer
The second important feature is the "browse mode" for activities, it helps to link the curriculum activities to students. The app also offers side features such as productivity and self-help tips to help students understand more knowledge, tools, and methods to become a better student.
Concept testing
In terms of suggestion to improve the application, most of the participants gave very useful suggestion to improve the STARdys application to increase the value proposition. Furthermore, 2 of the participants suggested the application to implement quiz test for students based on their preference and to improve performance because it will directly link to what they are studying during the current semester.
Pricing Strategy
Channels of Distribution
Promotions and Advertising
Discount vouchers
Marketing events
Online advertisement
PRODUCTION PLAN/ OPERATION PLAN
Method of Service Delivery
Then the azure app service will render all viable data in various forms to the mobile application, the mobile application will constantly return an API call meaning the request from the client will be retrieved in data form back to the server. Finally, the mobile application is launched on the app store, during this time, the development environment can update and change the patch directly on the app store for consumer communication.
Availability of Qualified Labor Pool
- Managing Director
- Sales and Marketing Manager
- Operations Manager
- Financial Manager
- Human Resource Advisor
- Information Technology Advisor
The HR consultant not only provides strategic advice for the business plan, but also participates in the staffing and recruitment event to connect the operations department and the team building event. Although the consultant will not directly supervise the department, he will create a mind map for planning, implementation and evaluation as a report to help the director make better decisions. Information technology consultant is mainly involved in the application development project and advises the managing director such as discussing changes or updates by giving a consulting report and solution to make the application better for the consumer needs.
Then, the advisor will also help the Financial Manager to evaluate customer feedback and improve customer service for quality control.
Business Partnership
Type of business partnership
Purposes of business partnership
Quality Control
- Classify the bug
- Automation
- Marketplace monitoring
- Test, test, and test
- Do not let user run the app
- Take notes
The developer should be responsible for configuring the system to test each new update and new features for the long-term success of the app. Although user feedback and opinions are important and should be collected and evaluated by the decision maker, but that doesn't mean they should let the user decide their app. This is because it is equally important that the company does not lose sight of their goals and vision for the app.
While listening to the user's feedback, the decision maker must understand and be able to discern which opinion to take and which not. The developer goes through several projects and manages them at the same time. It is a foundation to ensure that the developer writes down every detail of different projects as it can keep the entire team in a clear line of communication. By taking notes, the developer cannot miss every step and avoid duplication of work from other departments.
Customer Support
Social media platform
In app feedback
Distribution Channel (App Store)
MANAGEMENT TEAM
Management Team
- Managing Director
- Marketing and sales Manager
- Operations Manager
- Financial Manager
Benedict Yim Junyou is one of the co-founders of the company, his nationality is Malaysian and appointed as Sales & Marketing Manager of the business group. This is because his management experience from a previous job as an advertiser of company I-Gen XYZ allows him to practice the management skills such as editing advertising videos, converting multiple languages and implementing a marketing plan as an advertiser. Chong Zi Yong is also a co-founder and appointed Operation Manager for the company.
By doing this, enable him to appoint the position of Operation Manager where the leadership ability in operations management is needed, such as converting manpower, driving business practices as well as implementation of task arrangement. He is responsible for taking care of the company's financial perspective and focusing on the profitability of the overall business. His management experience comes from the previous job as an administration and finance assistant in N&A Excellence Trading Sdn Bhd, which helps him to establish a basic knowledge of management ability to consolidate and manage the finance part of the company as a finance manager.
His technical expertise is the adaptation of professional knowledge in accounting and finance management to estimate all the necessary cost and set the price of the business idea. His thoughtfulness and sensitivity to finance make him the best choice for managing the company's finances.
Board of Advisors
Resource plays an extremely important role in helping companies achieve the goal more efficiently. Hiring the right people can help the company save half the time, money and even the effort of achieving their goal. Kok Jian Dong has experience in the field because of his previous experience working in Human Resource Management team.
He will advise all possible plans for the company to evaluate new strategy to meet the needs. Daniel Lim and Kok Jian Dong have one thing in common, namely that they not only live as an advisor, but are also very passionate about helping the business grow so they will try their best to brainstorm new innovative ideas to meet the user's need to provide.
Key Professional Service Provider
COMPANY STRUCTURE, INTELLECTUAL PROPERTY, AND
Organizational Structure
Benedict will ensure that the customer relationship management system is always ready to quickly collect the market information. Other than that, he participates in managing the day-to-day workflow such as creating projects within a specific period of time to ensure that everyone in the company is doing their part and not clashing with each other. Last but not least, he will continuously discuss the latest IT situation with the Advisory Board to improve the user experience by implementing new projects.
As a finance manager, Lee Zhi Qi knows that he will review the costs of each activity and evaluate how they can be put to good use. Advisory Board not only assists in decision making but also provides their professional expertise in various fields such as Human Resource Management and software development. Kok Jian Dong participates in connecting the staff and other departments such as recruiting new top talent and providing them with projects under operational management.
Daniel Lim will then assist the Finance Manager to gather customer feedback and develop the STARdys app to meet market demands.
Legal Structure
Intellectual Property
Besides that, trade secret also includes the customer and supplier list which is extremely important for every business and should be protected by legal right. There is no need for filing or legal fees for the grant of trade secret rights, the only costs associated with this intellectual property are security steps required to keep the information so the fees will be around RM500.
FINANCIAL PLAN
Capital Requirements for Next 3 Years
For the first year projection, we take two-thirds of the 16,965 students currently in their first and second year, corresponding to 11,311 students. Later, RM1,200 of income earned from ad posting is added to this figure, making a total of RM136,932 as our first year's revenue. Then it is added to advertisement revenue of RM3,500, giving a total of RM215,564 as the second year revenue projection.
The same number of students as from the second year is projected in the third year making it RM215,564 which will be added to the advertising revenue of RM5,400, totaling RM217,464 as the third year revenue forecast .
Overview of Financial Projection
A pro forma balance sheet mainly focuses on the breakdown of the estimated assets, liabilities and ownership interests. Therefore, there are 3 main concepts that must be kept in mind when creating a pro forma balance sheet, which are predicted assets, liabilities and company's equity. This gives the company an overview of the amount of the estimated asset that the company owns, the estimated liability that the company bears, as well as the estimated equity that the company possesses at the end of each year.
Pro Forma Income Statement (3 years)
Cash Flow Projections (3 Years)
Pro Forma Balance Sheet (3 years)
Payback and Exit Strategy
CRITICAL RISK FACTOR
Management Risks
Marketing Risks
It is a form of threat that can lead to the loss of money for parties who may be interested. This is because if people found that the content is all copied, they can sue your company due to copyright. The company should pay more attention to the problem because it will damage the company's image.
If a company is facing a crisis in its business, it can ask the public relations department to write an immediate press release. This is because when they see a press release, they can know that the company is looking for a way to solve the problem. In addition, companies can invite the mass media to hold a conference to explain the crisis and inform the public that they are currently solving the problem and hope that the public can give them some time.
The impact of the COVID-19 epidemic on the mental health of undergraduate students in New Jersey, cross-sectional study.PLOS ONE. Student Opinion on Online Education During the COVID-19 Pandemic.Wiley Online Library.Retrieved from: https://onlinelibrary.wiley.com/doi/full/10.1002/hbe2.240.
Ethical Appreciation Letter - Entrepreneurship
Survey Questionnaire
Resume
Market Research (Concept Testing)
Prototypes Pictures
STARdys Facebook Page
Business Registration Forms
Lease Contract & Business Location
UTAR Young Entrepreneur Start-Up Scheme
