Haafiz is a qualified instructor with experience with angel investors. He will design and lead the club. There will be no additional staffing requirements. he will be in constand direct contact with all members. All decisions with the company will be made solely by him.
The bullwhip effect occurs due to a lack of information across the supply chain. Starts small in the begining but the problem gets worse later in the chain. Since there is no physical product with this venture, we are not concerned with this problem. If we were, we would ensure high communication throughout the organization to prevent this problem.
Thursday, February 28, 2008
E-commerce Transactions
We will use a application service provider like PayPal for the first three years. If we decide to expand to different countries, we may consider changing this.
- PayPal is a safe and secure way of reciving payments
- Easy to implement PayPal into our website
- Convient method of paying, most people already have accounts. If they don't, you can be set up in minutes.
- We will need to set-up a seperate PayPal account for this business. We will need to link it to the companys bank account which takes approx a week to confirm.
- Members have option to pay by mastercard, visa, amex and other cards. It also gives them an option to pay by e-check.
- We will need to add the PayPal option to our website.
Financing
Deep Cove Inc will not require a significant amount of financing. As a result, Haafiz will contribute his personal money to finance this venture. If needed, friends and family will be approached if additional capital is needed.
The creation of the website will not be outsourced; Haafiz will create and maintain the website. The only cost will be to obtain the domain name. $100 has been set aside to do so.
Money will be used to secure guest speakers, domain name, facilities’ for meetings, coffee and snacks for meetings.
No marketing budget. Word of mouth advertising will be used. Facebook will be used to spread awareness about the group and encourage new members. In addition, posters will be posted at various colleges/universities. Haafiz will make arrangements to talk with business classes at these schools.
If we decide to expand club to other provinces or countries, investors may be needed. Angel Investors will be used. They will be contacted once the club is already up and running so that it shows them that this venture is viable and is already proven.
Elevator Pitch
The founder of Deep Cove Inc, Haafiz Bhulji, is establishing a club for young entrepreneurs that will focus entirely on Angel Investors. Membership to this club will be open to anyone attending post-secondary instutions throughout B.C. Meetings will be able 2-3 times a month at various post secondary instutions. In addition, a website will be set-up with an online forum, more information, and summaries of meetings.
Model: Subscription Model- Content Services -- provide text, audio, or video content to users who subscribe for a fee to gain access to the service.
Key Problem: In many post-secondary business courses, not enough emphasis has been placed on the importance of angel investors. The goal of this club is to throughly inform entreprenuerinal students about angel investors.
Key Value Proposition:Members will learn what exactly angel investors are looking for, how to make a good pitch, why use angel investors, where to find angel investors etc.
Sustainable Advantage: There are other clubs like this out there, but this club is different as all context is local and is geared towards students so they will be able to understand. The club encourages a hands-on approach and will have many guest speakers to provide real world knowledge and experiences.
Revenues: A yearly membership fee of $300 will be charged. Our goal is enrol 30 members into the club which will generate yearly revenue of $9000. Revenues are expected to remain similar to this project throughout the next three years. Deep Cove Inc primary goal is to inform its young community.
Key Statistic: USA has 53% more angel investors per capita than Canada (4.9% vs. 3.2%). Our club will show you ways you can overcome this major disadvantage.
Model: Subscription Model- Content Services -- provide text, audio, or video content to users who subscribe for a fee to gain access to the service.
Key Problem: In many post-secondary business courses, not enough emphasis has been placed on the importance of angel investors. The goal of this club is to throughly inform entreprenuerinal students about angel investors.
Key Value Proposition:Members will learn what exactly angel investors are looking for, how to make a good pitch, why use angel investors, where to find angel investors etc.
Sustainable Advantage: There are other clubs like this out there, but this club is different as all context is local and is geared towards students so they will be able to understand. The club encourages a hands-on approach and will have many guest speakers to provide real world knowledge and experiences.
Revenues: A yearly membership fee of $300 will be charged. Our goal is enrol 30 members into the club which will generate yearly revenue of $9000. Revenues are expected to remain similar to this project throughout the next three years. Deep Cove Inc primary goal is to inform its young community.
Key Statistic: USA has 53% more angel investors per capita than Canada (4.9% vs. 3.2%). Our club will show you ways you can overcome this major disadvantage.
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