1. EXECUTIVE SUMMARY
The Radio Frequency Identification (RFID) solution was
initially targeted at providing security for students in
educational institutions. However, after face to face interviews
with management of schools, we did realise that they were
more interested in using RFID for asset security and
management rather than for student security which led to
more surveys and an eventual change of customer segment,
value proposition, target market and revenue streams of the
Business Model.

2. THE PROBLEM
Organizations find that they do not have proper
control of assets and inventory management.
Additionally, security and movement within an
organizations premises is a major concern to
companies.

3. THE PRODUCT
RFID (Radio Frequency Identification) is a major
technology enabler for identifying, securing and
tracking of goods, assets and people around the
world.
RFID technology will be used to help secure
goods and assets as well as enhance proper
management and control.
It will provide a solution for problems currently
faced by organizations – loss of assets, inefficient
asset management and security of premises.

4. RFID TECHNOLOGY

5. THE BUSINESS MODEL - Original

6. ANALYSIS AND FEEDBACKS

7. FEEDBACKS 2

8. THE BUSINESS MODEL - Revised

9. THE MARKET
Total Available Market - about 100,000 registered
companies in Nigeria
 Served Available Market – 1,000 companies in
the Financial, IT, Telecoms, Educational, Oil and Gas
sectors
Target Market consists of about 150 companies
and businesses
Cost for RFID tags for assets cost $5-$20, Door Frames
- $3,000, Hand reader - $1,500, Software $10,000
Revenue will be made mainly on tags and depending
on the purchase option chosen by customer. See BMC

10. THE STRATEGY
Positioning
 Primary business focus is asset management
 Secondary focus is general security and security of school
pupils
Marketing
 Send targeted emails to identified target organizations
 Mail letters to specific target group with executive summary
 Distribute fliers at strategic spots
Sales and Distribution
 Sales through key partners
 Sales Agents for blue chip companies
 Showrooms
Risk
 The major risk is the Financial risk. Project can be capital
intensive. However, the lease/rent option will serve as a
viable option for customers.

11. THE TEAM
The team came about putting together a
commercial ‘turning a worst idea into a good
one’. Consisting of 3 technical guys and a
business oriented lady.
Coming from diverse backgrounds with peculiar
qualities and strengths, we formed a good team
with a right balance with everyone contributing
to complete tasks and assignments.
Vanessa (the Chairlady) added the much needed
‘spice’ to the otherwise technical team
comprising Auguste (the Coach), Dayo (the
Engineer) and Victor (the CEO). Spontaneity and
optimism mixed with the logical and analytic
engineers.
Meetings were difficult due to work schedules
however, Skype served as a good tool