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  • 1. Entrepreneurship Project FOCK Weekly report 1 Tutorial Group: BM0329 Class: BJ Date: 06/05/05 Team Members: Ang Jie Hui (035795U) Chua Zheng Liang (030799X) Leng Phally (030288R) Subantan Ku (030295Q) Poh Wei Loon (033836S) Yin Lu (031765M) Week 1 During the first week of our entrepreneur lesson, our tutor Mr. Lam, went through with us on the introduction to entrepreneurship to tutor let us have a brief idea of what this module is about, as it is a new module for all of us. After Mr. Lam shared with us his experiences, we form ourselves into a group of 6 members. We are asked to identify our business ideas and its revenue model. We were also given a task of research of business procedures. For example, we have to find out where we register when we are setting up the company, advantage and different type of business like partnership, limited liability partnership and etc. We came out the Gantt chart to make sure we follow our task on time. We also assign individual responsibilities for each of us. We are given time to brainstorm for business ideas. Our group had come up with many ideas which are: 1. Trekker food. The mountain clamber, they may need some convenience and nutritious food, at the same time, easy to prepare food.
  • 2. 2. Wake-up-er. As many people has trouble to wake up in the morning, they may need some sweet which work as good as coffee to freshen the day. 3. Mobile phone advertising. We created new mobile phone games for customer to download for free. This is to exchange for customer to read advertisement first. 4. Convenience battery charging. We set up a battery charging service in most of the eating places and offices, where most of the working population is, to allow them to re-charge their battery at their ease. 5. Convenience shoes in school. A pair of shoes that suits the rules of the polytechnic. Available, in school shopping arcade. 6. Advertising on wall. Advertisement can be put up on a wall along the train railway to a long distance. For example, city to city in China. 7. 2 competing shops. Two competing shops at the near location and are competing in price for business. The same owner owns the shops. 8. The golden time. Advertising through media, Radio. Keep e very radio channel in Singapore quiet for a few minutes. Later then reveal in what to advertise. 9. Business on the move. Import new technologies from other countries. E.g. British Fun Fair. By the end of the lesson, we wrapped up the discussion with each member promised to contribute more ideas for the next meeting.
  • 3. Week 2 During the second week, we had short listed from the three ideas we had initially to only one, mainly because of feasibility. Our group had again went ahead to brainstorm for more business ideas. We went into details for each of the ideas to compare and contrast between ideas in terms of profitability. More brainstorming: 1. Revising can drink. New design of a can drink as more convenience (Biodegradable to maintain the freshness and taste). By Jie Hui. 2. Locker to rent at shopping centre. There will be locker in most of the shopping centre, where anybody can rent their locker with a certain amount of deposit. This is useful for customer to keep their valuable and also to relief those from heavy bags while shopping. By Phally. 3. Automated Post office in the airport. An automated post office for passenger who found to have some equipment like pen knife and nail cutter and could not pass the last gate to their plane. So they can send their valuable back to their country. By Phally. 4. Ghost Hunt. A Game which adventurous travelers play. By Zheng Liang. 5. Distress Packet essence in convenience packet. A packet of convenience essence helps to distress anywhere, anytime. By Jie Hui. 6. Mobile phone for rent. Foreigner and the local are welcome to rent a mobile for convenience uses. Consumer rent a mobile phone, as it is necessary and cheap to contact their relatives locally or overseas. From those who want to try out new mobile phone. By Yin Lu.
  • 4. Week 3 3 Selected Ideas: Revising can drink – Jie Hui Mobile phone advertising – Wei Lun Mobile Phone for rent – Yin Lu This week, we listed out the advantages and disadvantage of each the selected ideas. We also compared among them on a various factors to decide on the final idea. For example, we valued on the feasibility of the project, the payback period required to earn back initial investment. We start our in-depth research of the selected idea on the various costs over the period of 3 to 5 years. We were also started to source for external mentor. We brainstorm on how we are going to market our idea, financial plan and etc. We delegated the research jobs among our group members and met up to discuss on the business plan. Our team also met up to completes the weekly report and also start on the presentation power point slide for 13th May 2005. http://www.cia.gov/cia/publications/factbook/geos/ch.html http://www.chinadaily.com.cn/english/doc/2004-07/07/content_346330.htm Distribution of Work Each of us was also given a part to work on. Ang Jie Hui – brainstorm ideas, pro and cons of ideas,research Chua Zheng Liang (– brainstorm ideas, pro and cons of ideas. Leng Phally – brainstorm ideas, pro and cons of ideas, weekly report Subantan Ku – brainstorm ideas, pro and cons of ideas,research Poh Wei Loon – brainstorm ideas, pro and cons of ideas. Yin Lu – brainstorm ideas, pro and cons of ideas.
  • 5. Entrepreneurship Project FOCK Weekly report 2 Tutorial Group: BM0329 Class: BJ Date: 20/05/05 Team Members: Ang Jie Hui (035795U) Chua Zheng Liang (030799X) Leng Phally (030288R) Subantan Ku (030295Q) Poh Wei Loon (033836S) Yin Lu (031765M) Week 4,5 After much consideration, our team selected the Mobile phone Download Content as our entrepreneurship idea. We believe that the most profitable project to carrying out as a new establishes private limited. This is because mobile phone download will become a trend in the near future, along with the popular use of the 3G, 3rd Generation mobile phone, with much capacity for the wireless data and voice communication technology ever. Our team has found three external mentors to guide us on our project. We explain our project to our external mentors, and also their roles. We also gather information on their experiences and profile, and wait for approval from our tutor so that we can contact them and they can also give us useful advises based on their experiences. With more data and resources gather from our researches, we concluded that our selected idea is feasible. We also draw out a financial spreadsheet for various factors based on a 3 years period. The costs included are labour cost, maintenance cost, operational cost etc. We also study the payback period required to earn back initial investment to establish our company.
  • 6. We did a very in-depth research on the selected idea, as we drawn up a marketing plan on how to advertise our service and ended with a few fresh and new strategies. We also brainstorm some differentiation strategies, which is on how to make our service different from other mobile phone download service providers. We believe that an idea may be profitable, however, if we do not different ourselves, other service providers could simply copy our idea and we might have a difficulty in maintaining the customer, the business. Our team designs the presentation power point (PPT) slide and a report for the presentation 1. At the same time, we also begin to some necessary research on the presentation 2. Although we have done most of the requirement for presentation 1, our team would not stop finding article related to our idea selected. We believed that the more evidence we gather, the more convincing our idea is. Distribution of Work Each of us was also given a part to work on. Ang Jie Hui – research, brainstorm strategy, PPT 1, business model, compile report Chua Zheng Liang – research, brainstorm strategy, PPT 1. Leng Phally – research, brainstorm strategy, PPT 1, weekly report Subantan Ku – research, brainstorm strategy, PPT 1, external mentor. Poh Wei Loon – – research, brainstorm strategy, external mentor, business model. Yin Lu – research, brainstorm strategy, report 1, PPT 1, external mentor.
  • 7. Entrepreneurship Project FOCK Weekly report 3 Tutorial Group: BM0329 Class: BJ Date: 27/05/05 Team Members: Ang Jie Hui (035795U) Chua Zheng Liang (030799X) Leng Phally (030288R) Subantan Ku (030295Q) Poh Wei Loon (033836S) Yin Lu (031765M) Week 6 Our team has agreed upon the best name for our company, FOCK. It is stand for Free Of Charge Kontent (content). Each if us spend time designing the logo for our company. We chose the best design out of the 6 logos and presented it in the power point slide for our first presentation. After completing the full report for our first presentation, we have an in-depth study of the recent market and draw out a detail financial spreadsheet for various factors based on a 3 years period. For example the labour cost, we find out how many labour we have to hire and the cost for each of them. Also the operational cost, we predicted the electricity cost, equipment cost and also the insurance cost etc. We concluded the payback period required to earn back initial investment to establish our company. We printed out all the information, article and spreadsheet that our team has found for the first presentation. After that, compile them in the folder to be kept evident of research. Nevertheless, our team also continues to search for more relevant information for our project.
  • 8. From the three external mentors that we have found, we chose the one who is most suitable, Mr. Stephen, who works in the Internet download sector to sell online games. He has more than five year of experiences, which is adequate to guide us through the project. More importantly, he has the experience within the similar IT technology that not every businessman knows. We have request to interview him early next week. He was kind to accept our interview, however, the timing still has yet to be confirmed. Meanwhile, we were also preparing some questions to ask our external mentor. We Altered and enhance the Power point slides with some pictures and animations. Upon completion, we voted that Wei Loon, Subantan and Yin Lu to present on the first presentation. Our team believed that they are the best candidates to convince bring our idea through the audient and also know our idea clear enough to answer our tutor, Mr. Lam’s questions. For the rest of the team members, namely Jie Hui, Zheng Liang and Phally, they are working on the more details part of the project like the marketing, financial, competitors’ analysis. Therefore, they are the better candidates for the presentation 2. After the division of member to present our project, we have a rehearsal for the presentation 1. The members presented and we also predicted a few likely questions that the audient might ask and thought of the answers together. To our surprise, we predicted all of the questions that were asked by our audient asked during our presentation 1, they are as follow. Question 1 was asked by Jimmy: “is it true that the mobile phone users have to pay more for the downloading the our advertisement?” Question 2 was asked be Shi Hao: “Would not your company be out of business if there is a competitor by the bigger player arise, like starhub?” Question 3 was asked by KaiLin, “Your server charge you at zero dollar, do you think they can support you with the unlimited usage?”
  • 9. Distribution of Work Each of us was also given a part to work on. Ang Jie Hui –in-dept research, speciality of FOCK, customer profile, marketing strategy Chua Zheng Liang – in-dept research, speciality of FOCK, finance. Leng Phally – in-dept research, speciality of FOCK, weekly report, competitor analysis, Subantan Ku – in-dept research, speciality of FOCK, external mentor question, present for ICA1 Poh Wei Loon – in-dept research, speciality of FOCK, name of company, present for ICA1. Yin Lu – in-dept research, speciality of FOCK, customer profile, present for ICA1
  • 10. Entrepreneurship Project FOCK Weekly report 1 Tutorial Group: BM0329 Class: BJ Date: 10/06/05 Team Members:Ang Jie Hui (035795U) Chua Zheng Liang (030799X) Leng Phally (030288R) Subantan Ku (030295Q) Poh Wei Loon (033836S) Yin Lu (031765M) Week 7,8 After gathering more information that we have found, we continue to analyze what we have written in the second report. To see if the new information we found can support our evident further. If not, we will have find out the solution for the differences, and do the necessary amendments. After than, we compiled all the new information together with the old one that we have found, as an evident of our researches. For our external mentor, we will be meeting him on the next Wednesday for an interview and at the same time, to get to know him more. Each of us is to put together all the questions that we are would like to be advised form our external mentor. Most likely, all of our team members will have the chance to meet up with Mr. Stephen next week. We believed that we have to do more in-dept studies in many aspects for our report, and also the presentation 2. From our tutor’s advice, we are seriously looking into segmenting our target market. We were targeted with a wide range of 15 to 55 years old consumer, which is not precise, and therefore, it is hard for us to study our target
  • 11. market, needless to say, it is also hard for us to sell our services to them. After a long discussion and consideration, we will segment our consumer based on individual content in our website. For example, for free downloading of games, we will be targeting on the male consumer at the age of 15 to 35. While for the latest shopping promotions will be for the 20 to 40, both male and female, as they are the frequently search value for money’s purchase. We chose the targeted at the group of user who can give us the profit, in another word, accessing our website for the most number of times. We also re-study our business model and revenue model again from all the resources we could find. A new e-mail from Mr. Lam regarding the above mentioned were very useful. We studied it and came out with a few new ideas. Hence, we are considering changing our business model to “Be pay to visit our website” at the same time also being able to download one content or information for free. When a user wants to download another content from our site, they have to log out and sign in again, and of cause, the advertisement will be loaded again. Every log in to our website will have some advertisement being displayed. However, we are still working on how much to give to the customer as per sign in fee and also how to make the system deny the second download requested from the same user. For the revenue model of our business, we would not depend on the company’s advertising fee with us only. We were also thinking of working with the reservation services. Simply visit our website and search for the list of airlines, cinemas, hotels and dinning outlets etc that we are offering, message the necessary details to us and we will help to ensure that the vacancy is yours. Distribution of Work Each of us was also given a part to work on. Ang Jie Hui – research, evidence of implementation, website,marketing Chua Zheng Liang – research, evidence of implementation, finance Leng Phally –research, evidence of implementation, weekly report, report 2. Subantan Ku –. research, evidence of implementation, logo design Poh Wei Loon – research, evidence of implementation, external mentor
  • 12. Yin Lu – research, evidence of implementation, advertising, marketing,
  • 13. Entrepreneurship Project FOCK Weekly report 1 Tutorial Group: BM0329 Class: BJ Date: 15/07/05 Team Members: Ang Jie Hui (035795U) Chua Zheng Liang (030799X) Leng Phally (030288R) Subantan Ku (030295Q) Poh Wei Loon (033836S) Yin Lu (031765M) Week 9, 10, 11 We clearly defined our company background and include it in to the report. With the background in mind, we also re-do our business model to the more appropriate. We were also thought of a unique selling point for our service, to differentiate us with the others. As far as possible, we also try to eliminate new competitor from joining us in the similar field. Our team, FOCK, has done 200 surveys from mobile phone users of age from 15 to 55. We have tabulated all the surveys and write a report on it. We hope to understand our targeted market more and alter our services when necessaries to suit the market. Based on the result, we have more evident for implementation. The result of the survey has been included for the ICA2 presentation. Each question has a graph and some write up to describe and explain it. Each question within the survey further supports the details of our project. At the same time, prove its workability. For everyone to have clear idea on what our service is about, we build a company website for our proposed idea. The website will show the content within our service and how mobile phone user can go about using it. Companies can also view how their
  • 14. advertisements would be advertise on the website. We also make an effort to design a few sample of advertisements to be put on our own website. With our own knowledge on the free gaming, we decided to try our best to make a few new games to see if the user and examiner like it. And we wish to see the level of implementation with these in-house games. We are also completed a detailed financial study on various aspects on FOCK. Believing that it is profitable even for the first few months of starting our business. Once we started successfully, more company would trust to advertise with us and hence we will make more profit as the days go by. We are in the mid of completing on our report and also the power point for our presentation next week. We try to add our website and the new games developed by our very own teammates, to show to the audient. For this ICA2, we have included the full and details financial review of FOCK. We take care of every aspect in running our company successfully over a period of 3 years. Let take the loan as an example and see what the queries we have decided. They are: which bank to take our loan; what is the interest for the loan; how much to loan to take;
  • 15. how long the loan should be taken; what should be the mode of payment for the loan; what if we could not repay the loan; and also which are the alternative banks we can take our loan from etc. However, we find it hard to only present the ICA2 within 10 minutes. This is because we have many aspects to cover through. Therefore, we only presented the area required in the ICA2 guideline. Where else for the rest of the items we have prepared, we planed to present it during the next presentation; which is in the entrepreneurship day. They are items like the company website, downloadable games, mobile content, useful information and some advertisement as sample and more. Furthermore, all of the items are designed be our very own members of the FOCK. For the next two weeks, we will also concentrate on the design of the website and the games. We will design our own website to make it as professional as the currently website on the World Wide Web (www). It is because our business is greatly depend on the website to link the mobile user and our services. Therefore, our website has to be attractive, precise and useful. We will also prepare to come out with an advertisement sample for our project throughout the proposed entrepreneurship of three years. There will include the first time advertisement to get ourselves know to the public and after that, we will use the other different method to make ourselves remembered by all. Distribution of Work Each of us was also given a part to work on. Ang Jie Hui – report, website, presenting ICA2, ppt 2 Chua Zheng Liang – Report, finance, presenting ICA2. Leng Phally –weekly report, survey, presenting ICA2. Subantan Ku –PPT2, competitor analysis,report Poh Wei Loon – flash games, report Yin Lu – Advertisement

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