MY BUSINESS IDEA

SO FELLAS AM TAKING AN ENTREPRENEURSHIP COURSE IN SCHOOL AND WE WERE TOLD TO COME UP WITH A BUSINESS IDEA OF OUR CHOICE I CAME UP WIT THIS WHAT DO YOU ALL THINK ABOUT IT

A TERM PAPER ON THE BUSINESS IDEA OF MY CHIOCE

BY
BASSEY WILLIAMS NSIKANABASI
16/EG/PE/863
PETROLEUM ENGINEERING
FACULTY OF ENGINEERING
UNIVERSITY OF UYO, UYO

SUBMITTED TO

DR. ESSIEN AKPAN UKO
THE COURES CORDINATOR GST 211
DEPARTMENT OF ACCOUNTING
UNIVERSITY OF UYO, UYO.

DECEMBER,2017

ABSTRACT

Business refers to the practice of buying a product with the aim of making profit by selling off to a buyer in an open market. the product could be tangible or a service all the same it is an exchange.
The business world needs innovation so as everything in the world today, everyone nowadays wants to leave school and work in a well established company forgetting that every well established company started from somewhere. This need for is what brings in entrepreneurship which is where young people come up with based on other existing factors in other to create income, this are ideas which in time would grow into massive companies and make impact on economies.
This paper would be talking on a business idea that I have and how it can be built into something wonderful.

INTRODUCTION

In the business world nowadays, entrepreneurship is the way to go, that is bringing , that is innovation and creation of new ideas for the hungry society.
With the idea I have it would not just be a way of creating a new company but also a way of tackling unemployment, hunger poverty and idealness in the society. Nowadays we have a lot of young people on the streets but this idea would give them no reason whatsoever to remain on the streets. This is because this idea brings jobs to them in their comfort zones.
Lately, job seeking has been more of manual, it has been more of people walking from one company to another getting turned down by employers or walking on the streets seeking for menial jobs for instance, seeking for a job as a laborer on a construction site, How long would that last? Would you look for it everyday? Or would it be available everyday? It wouldn’t but it could be because I have made this process more digital and online and less stressful, now with my idea you don’t have to go around looking fir this kind of jobs, I have them and would always contact you when they are available, you don’t need to walk the streets looking for those kind of jobs or stay hungry when they are not available or as a person who has that kind of job you don’t have to search for labor anymore, I would provide them readily when you need them.
Reading deeper into this paper you would see how possible and easy I have made seeking of menial jobs online.

BUSINESS CONCEPT AND NATURE

The nature of the business is more of a platform where employers can get young hands for periodical menial jobs. It is more of an online platform set out to eradicate unemployment, idleness and reduce the stress to interviews both on the employer and the employee's side. this platform would accept people with little or no qualification.
It is more of an online platform, most online platforms for job seeking only provide jobs where you need some certain level of school qualification, but my online platform is for anybody mostly dedicated to young unemployed people who are still vibrant and can do almost any kind of job. The platform is where corporate companies and other companies come in contact with young hands who can help in their periodical menial jobs but going through a middle man(me), I interact with the companies the workers interact with me, for instance you have an old building that needs cleaning and you get in touch with me on a Saturday evening, you would tell me the nature of the job , we would negotiate how much man power you need versus how much can provide, we would also negotiate the amount you are willing to pay per each man and when you need them, then on MondayI transport your manpower to you after the work is done I would transport them back, I get paid pay the workers too and everybody is happy.

SERVICE DESCRIPTION

The business is more of providing services. it may be of different nature you may need a carpenter, a plumber, a painter, a mechanic, menial workers or an electrician, you just need to be registered on my online platform when ever you have a job you hit me up and I provide the man power.
Acorporate body or individual who would need my services from time to time , you would have to get registered on my site for a token. Meanwhile if you need to work , you get registered by putting your name, your age, your location, your gender incase if the job available is gender sensitive, you would also indicate your disabilities, your special skills and your contact details.
Thereafter, the whole process would go down like this, if there is a job I would get informed by the client who needs my services, I would then negotiate with the client on what he can provide and what I can provide I would then upload the available job on the man power section of which registered employees would have to be checking from time to time, those who are interested and feel they can do the job would indicate on the platform , then they would be told the job description and how much is at stake , the timing that is how long they would have to work, then I would contact them when the job is set.
This also holds for jobs with special skill specifications, for instance someone needs a carpenter to refurbish his house or you need an electrician to rewire your house or a painter to paint it or a mechanic to service your car as long as you are a registered individual on my site, you get in touch with me tell me the nature of the job you need to get done but on this I would have to get back to you because I would not know how much it would cost. I would upload it on the man power section, interested people based on their skill set would then hit me up, I would then give each person the description of the job, they would now tell me how much it would take to complete the job, then I would judge based on their price, who I have more experience with or who I feel would be more efficient , then I would give him the job then contact him when it's time he would be transported there courtesy my platform.
When the pay comes nobody needs to go through the stress of meeting anybody, all payments would be done online, at the end of the day everybody is happy.

BUSINESS IDEAVALUE PROPOSITION

My business idea value proposition basically shows the benefits of my business idea to the different parties involved.
• TO MY CLIENTS
Most employers nowadays do not want to employ someone permanently to do menial jobs just to cut cost, talk less of the time you waste spreading the news of the job vacancy and the stress of calling and holding an interview. with this platform my client gets to pay less for every time he needs a menial job done and goes through a whole less stress because I take away all the burden. he just pays me and I get the man power.
• TO MY EMPLOYEES
Nowadays, we have many idle lads on the streets it's not their fault but there is nothing tangible to do, some are not fortunate enough to have the least qualification and this leads to a lot of vices. but you being a member on my site instead of sitting home 24 hours 7 days or remain on the street looking for a job you won't find or getting turned down by employers for no reason. you can just get registered on my site and you would get to work at least 4 - 5 days out of the 7 days you sit at home and get paid for your time and for a skilled person instead of sitting all day in your workshop with no customer, you register on my site, when I have a job for you , you turn up, and when there is no job or you are not chanced you go about your business, you would have nothing to lose.
• TO THE NETWORK PROVIDERS
With this kind of business I have to be online most of the time, it cost money to be online that long and this is of great benefit to my network provider, not only from my end but also from every client and subscriber that visits my site for one deal or the other because they would cause a lot of online traffic.
• THE SOCIETY
Yes, the society has all to gain, this idea those a lot for the society, it brings jobs to their doors, make youths more independent, there would be no need for robbery and prostitution when they would be making so clean money and don't even have time for those stuffs. with this there is less roaming about the streets, less poverty, less hunger because with no qualification you can make ends meet.
finally, for me I get to benefit a lot, I earn a percentage from every work's pay, I earn from clients registration, I earn from the traffic caused by my site and also other people working for me get to benefit like the web designer who updates my site , the driver who transport the workers etc.

THE EXPECTED CUSTOMERS AND COMPETITORS

CUSTONERS
With this kind of business idea almost everyone in the society is a customer of which the majority of my customers are corporate bodies and individuals. A corporate body can need me to provide someone for the fumigation of their offices or someone to change their windows or a caterer for their business function or someone to service their generator, they can not employ such people as staffs so I am there when they need those services.
Also, individuals for instance, you are about to park to a new house you need hands and a truck driver to help move your things, you have me to provide this kind of manpower. So this are basically the kind of people I have as customers.
COMPETITORS
With this kind of idea I cannot point out much competition but a few such as jobberman.com, dice.com, careerbuilder.com and glassdoor.com etc. But all this sites provide vacancies but don’t guarantee your job is done and most vacancies they have to offer need some certain level of qualification.
THE COMPETITIVE STRATEGY

Even if I don’t know much competitors I have set up some strategy to satisfy clients more which are as follows;
Online awareness : I would make a lot of on line advertisements so that on every social network platform there is a link to access my site and there are write ups that explain my services. It would be so rampant that people would have no choice but to just try me. I would make them see there is much more to gain with me and nothing to lose.
Convenience : I would try and increase the rate at which my services are accessible, by making call lines for complaints and booking and updating my site regularly and also make it possible for almost all dealings to be done from the comfort of your homes.
Identify rare scope : I would make detailed research about the target market and industry competition, this is figuring out unique things that is high in demand and low in supply because uniqueness always wins, you can easily be the top boss because no one yet has marketed your product/services.

SUSTAINABILITY AND PROFITABILITY STRATEGY

To make my business more profitable, with time I would put son things in place to bring more efficiency and maximize profit. Some strategies of which are as follows:
 Increasing profitability by reducing cost: by the time the business starts most of our things would be rented of which would bring a lot of cost so with time the company should own buses of its own in other to transport workers with ease. Not only buses but other equipmentwhich would be used frequently.
 Raise new finance by diversifying : the more the business grows it would be good to diversify into other line of businesses to maximize profit and sometimes support the enterprise.
 Creation of more efficient work stations : this kind of business is something I can do from the comfort of my home but with time as a made company we would need more efficient work centers, the buses would also need somewhere to be parked and more efficient call centers would also be needed.
 Strive to get endorsed by good companies: as the business gets mature despite the publicity I would have to strive to get endorsed by some good companies so as to get consideration from potential clients.
 Try to get some permanent contracts : as much as the periodical contracts would be of great profit, it would be of more profit if I could get some permanent contracts.

CONCLUSION

In conclusion, I believe that this business idea would be very profitable even if it is not foolproof, but if considered for execution it can be enhanced and perfected because this business idea if implemented would be of great profit because there is a wide range of parties who stake to gain and also there is almost nothing to lose.