Playitfwd.org assig1 j_phipps
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Playitfwd.org assig1 j_phipps
- 1. The best new way to FUNDRAI$E The mobile app and online portal that enables your organization to raise funds via highly addictive viral games. PLAYITFWD.ORG ®2011 `
- 2. Strengths of the Idea Source of New Business Ideas Marketplace gap and unsolved problem Timeliness 1- Charitable donations are on the decline Very 2- Need for donation is high Timely 3- Mobile phone and gaming apps are surging in popularity Adds Values 1- End-users would play and give Highly 2- Charities would have another tool Valuable 3- Organizations can raise their profile Competition 1- Little and no exact application Minimal 2- Their does exist straight donation apps Competitio n Adoptability 1- Gaming apps are already number one Highly most downloaded type of app by end-user Adoptable 2- Charities can easily jump on this solution 3- Organizations can easily raise profile and match donations
- 3. Industry Related Issues Number of Minimal competitors. This is a new niche Competitors that doesn’t currently have a direct competing product Stage of This is an emerging industry. We are Industry Life creating a new niche solution Cycle Growth of Growth rate is huge. The app industry in it’s Industry first month of sales topped $30 million (source: INC.com) Importance This could become for some charities the of easiest way for them to raise funds. Product/Servi Consumers may find peace of mind ce knowing while they play games they actually are supporting a worthy cause. Industry The margin is high. We are providing a Operating service and have created a tool/App that Margin will enable people to give without having thinking about it as their time spent online playing would be matched by corporate donors.
- 4. Market & Customers Identificatio Minimal Effort. The target is mobile app n of users. These are highly identifiable and Proposed reachable Target Market Barriers to The fact that we’re not necessarily creating Entry new games and simply making deals with existing popular games to support charity allows us to have first mover advantage and have first-rights/contracts in place Purchasing Remains high as end-user doesn’t have to Power change habits and sometimes their app will be free or minimal cost Ease of High due to charity aspect. This often gains Product favorable advert placement and also a Awareness larger awareness campaign maybe supported via corporate efforts Growth of Huge potential with charities and Potential organizations as purchasers for this Target service. Also more people continue to Market switch to smart devices so the target market is very large
- 5. Founder Related Issues Founder Industry Experience – Moderate Founder Skills – High Founder Social Network – High How Venture Meets Founder Goals – High Is There a Team to Launch Venture – High / Yes
- 6. Financial Issues Initial Capital Investment – Estimated $3,000 - 8,000 Low due to internal team to develop platform Number of Revenue Streams 1. % of proceeds raised 2. Charitable app setup cost 3. Analytics access cost & In app advertising fee 4. End-User % of direct in app donation proceed potential 5. End-User potential % of game download fee Break-Even in under 1 year Financial Performance of Similar Business – None exists new niche Ability to Fund Initial Startup – Capital Available
Editor's Notes
- The BIG IDEA! PLAYITFWD.ORG A common problem exists amongst philanthropic organizations , charities and corporate donors. Their challenge is easy to grasp and often fall back to these two primary concerns: how can we raise more funds how can we build awareness for our causes and/or corporate giving.This is why I’m introduce you to PLAYITFWD.org We converged two of the fastest growing industry segments; mobile smart phones segment and the addictive world of gaming applications.Our idea is simple, consumers would download our application to their mobile device select from a list of addictive charitable games And essentially the more you play the more you raise for charity.The best part is… it’s all done from the palm of your hands! The BIG IDEA and AH HA! moment was born out of previous venture realization that there is a gap in many charitable organizations and corporate needs to solve the following problems: 1- Charitable organizations realizing the difficulty with traditional fundraising efforts Since a high in 2007 of $8.6 billion in charitable donations by Canadians have decreased about 10.25% source stats can 2- Corporations often looking for a corporate giving vehicle and/or reputable way to give back Hospital lotteries are seeing a dramatic decline in revenue as more B.C. charities compete to sell tickets for dream homes.Last year, the Surrey Memorial and Royal Columbian hospital foundations joint home lottery raised $1.8 million, down from $4.6 million in 2003Source VanSunhttp://www.canada.com/vancouver/vancouversun/news/story.html?id=df35336d-23f7-4c08-800e-c0e1d367aa9d 3- A way to engage a more youth driven market to become charitable givers
- Strength of the IdeaTimeliness With the proliferation of mobile smartphones, the surge of mobile applications and the huge rise in gaming, the timeliness of PLAYITFWD.org is VERY TIMELY. Also the fact that organizations are looking for ways to connect online and give back in their own unique ways makes PLAYITFWD.org ideal. Additionally, for Charities this will give them a new tool to tackle their unique fundraising mission. Adds Value After small focus groups and earlier surveys we affirmed that this mobile app fundraiser is highly valuable both from a customer standpoint and from the organization and charitable organization standpoint. Competition The only products that are similar are simple charitable mobile giving app. Those applications are basically for straight mobile or credit card donations. Adoptability Being able to gain customer adoption is very high. Mobile applications combined with the right marketing and cause related media awareness or buzz will make this idea highly viral and easy to adopt. Also from an organization or charity standpoint this is likely to be an easy sell. Slide two Industry related issues Number of competitorsThere are few competitors that are directly in this niche. Stage of industry life cycleTherefore this is a new niche industry category and it’s in the emergence phase. Growth Rate of IndustryStrong Growth is a definite for this mobile app industry. In the first month, sales of apps topped $30 million (source INC.com) and will be worth over $1 billion. Importance of Product/ServiceFor some charities this could be the easiest and most affordable way for them to raise funds. From a consumer perspective this is not a must have but the emotive tie with giving for a worthy cause by simply playing a game is moderate to highly desirable Industry Operating Margin The margin is high as we are providing a service and have created tool/a way to give without thinking about it.
- Industry related issues Number of competitorsThere are few competitors that are directly in this niche. Stage of industry life cycleTherefore this is a new niche industry category and it’s in the emergence phase. Growth Rate of IndustryStrong Growth is a definite for this mobile app industry. In the first month, sales of apps topped $30 million (source INC.com) and will be worth over $1 billion. Importance of Product/ServiceFor some charities this could be the easiest and most affordable way for them to raise funds. From a consumer perspective this is not a must have but the emotive tie with giving for a worthy cause by simply playing a game is moderate to highly desirable Industry Operating Margin The margin is high as we are providing a service and have created tool/a way to give without thinking about it.
- Target Market and Customer Related Issues Identification of proposed target marketThe target markets are mobile app users. These are highly identifiable and easy to target. Also this can also be reached and supported through corporate and charitable organization media advertising efforts which occur now anyhow. Barriers to EntryMay not be able to create huge barriers to entry but our product can have first mover advantage and it can be designed to operate the most efficiently and with ease of B2C and end-user customer adoption. Purchasing PowerPurchasing power remains high because the end user doesn’t have to worry about buying the app it’s free. Ease of Product AwarenessHigh because charities and organizations seeking this product aren’t too numerous but more importantly they are identifiable. Customer product awareness is high. Growth of Potential Target MarketThe target market is potentially huge with charities and organizations being the purchasers of this service. Also as more and more people switch to smart phones the target market is huge.Stat needed
- Founder Industry Experience Moderate experience as because I have knowledge of the industry and some experience however my strengths lie in the connecting the pieces of the puzzle together. Founder Skills Skilled founder able to sell and make this idea successful Founder Social Network Extensive network that can be readily tapped into to turn this idea into reality How Venture Meets Founder Goals AspirationsFounder has a passion for technology and social giving. This app will fulfill this desire. Is there a Team to Launch Venture? Yes this idea has all parts available and could easily be launched.
- Financial Issues Initial Capital InvestmentLow because this could be launch with groups helping to build the technology. Therefore minimal investment is required except for time. Number of Revenue StreamsThere does exist at least three or more streams. % of proceeds raiseCharitable Set Up CostsAnalytics access costsEnd user % of proceeds potentialEnd user potential user fees Time to B/ELess than a yearFinancial Performance of Similar BusinessesNo similar product but charitable orgs are usually self sustainableAbility to Fund Initial StartupHigh