Final Report of Entre

8/6/2019 Final Report of Entre

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WNWCommunication

Entrepreneurship

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0717

Jaha

Muhammad H

Waheed Khan 4401 F

PROJECT


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Table of Contents

Executive Summary.............................................................................................................................. 2

Project Objective ................................................................................................................................... 3

The Business Idea ................................................................................................................................ 4

The establishment process of the WNW Communications. .............................................................. 4

Funds / Investment Collection.......................................................................................................... 5

Business setup (difficulties and challenges we faced while setting up the business)................. 5

The Actual Business ......................................................................................................................... 6

Marketing and Sales ......................................................................................................................... 7

Marketing plan for WNW Communications ................................................................................. 7

Visiting card ................................................................................................................................... 8

Employee Hiring ................................................................................................................................ 9Cash outflows and inflows.................................................................................................................. 10

ROI (Return on Investment)........................................................................................................... 11

THE CASH INFLOWS AND CASH OUTFLOWS NOTE ......................................................... 12

Learning from the Mistakes................................................................................................................ 12

Jahanzaib Shahzad..................................................................................................................... 12

Muhammad Hussain Bijarani ......................................................................................................... 12

Waheed Khan .............................................................................................................................. 13

Faheem Ahmed Channa............................................................................................................. 13

WNW Communications vision for coming 20 years......................................................................... 13

WNW Communications core purpose of the vision. ........................................................................ 14

SWOT analysis ................................................................................................................................... 14

Conclusion........................................................................................................................................... 15

Executive Summary

This report is about the Entrepreneurship project of launching a new business in the

market. Our worthy teacher Sir Omer Javed provided us this great opportunity to learn

this course in real and practical way, which is actually proved very fruitful for us. We

learn how to generate ideas, implement them and how to get competitive advantage in


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the real business environment. Our business name is WNW Communication which

we started with the name of Almighty Allah on 7 th Mar 2011,

WNW Communication is the name of quality services provider in the world of

Mobile flashing this is what we want from our customers when they say this statement.

We are providing best and customer desirable services which we design according to

the customer requirement and needs, not like other firms which cares only about their

profitability. We, the new entrepreneurs having fresh and creative ideas that will make

our company GOOD and our purpose will make it GREAT.

The starting was very difficult when we have to collect funds or find investors to invest

and find out a skilled and unemployed energetic person who can move step by step with

us. This report includes all the tribulations and their solutions, our endless efforts to

make it possible and many new experiences that might anybody is interested to read

and learn from them.

Project Objective

The very first objective of our project is the learning of this course in a more realistic

way and applied method in real business surroundings. It makes us very confident to

face the invisible powers of the market the politics and handmade environment which is

created to maintain the monopoly of few existing firms which are only working for their

self interests and profits.

Secondly we have to hire a skilled unemployed poor person who doesnt have such

investment to start the particular business for which we can generate employment so

that he can support his family and utilize his skills as well, because the flashing device

is much costly. We hired Mr. Israrand found perfect match between our business and

his skills.


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Thirdly, this project has provided us the opportunity to identify our own skills, our

natural abilities and our areas of interests, where anybody can find comfort zone. This

was the need of our project to implement most of the courses we have done in our

program (BBA) so every individual got opportunity to work with his or her area of

interest.

The Business IdeaWe decided to provide the Mobile Phone Flashing Services after realizing it as potential

market for us as new entrepreneurs. This idea came in our minds because of youth being a

more mobile user they face many problems and needed desirable services for their mobiles.

Mobile is the only personal device if it does not work properly it creates uncomfortable feelings

and we need the same performance as a new one. After identifying this psyche of the

passionate mobile users we decided to more concentrate on mobile repairing and mobile

flashing services rather than new mobile and their accessories.

The location really was a matter of concern for us. We decided to establish our business near

NIPA Chorangi, The youngsters are our initial targeted customers because these people use

very expensive mobile phones roughly and they need services very frequently.

The establishment process of theWNW Communications.We started our journey with endless efforts we named our business as WNW Communications

because it was named by our employee Mr. Israr when he was only repairing the mobile

phones. After 1st week of current semester spring 2011, we started our activities step by step;

the very first step was to collect the funds.

The steps that helped us to start:

Our teacher gave us timeline of each & every step which we have to do

Investment

We made business partnership contract

Find out the location


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Hiring of employee

Marketing

Providing services

Funds / Investment CollectionThis was very difficult part of our business to collect the required amount of cash; we expected

that it will cost us Rs. 20,000 to 25,000 but our estimation went wrong and our investment

reached at Rs.34, 000. Because of that we could not start our business on time. Somehow we

managed the required amount. We all partners invested equal amount in the business which is

25%.

Total Project Budget Rs. 34,000 approx:

Currency PAK-RUPEES

Device Rs. 9,000Computer (CPU) Rs. 7500 1 PC

Monitor Rs. 2500

Cables Rs. 14000

Training (flashing device) Rs. 1000

Other expenses(Fairs, lunch etc) Rs. 1500

Business setup (difficulties and challenges we faced while setting up the

business)

First we were to choose the location (even it does not matter a lot but we need to locate

somewhere) and rent a shop. After having enough discussion with group members we decided

to locate it in Gulistan-e-Jouher, near NIPA chorangi, why we choose this location the main

reason was that there was a shop already. Finally we had a shop; we purchased device of

mobile phone flashing, required cables and a computer. Mr. Israris the person who will be the

employee for our business, having good experience of mobile repairing and he is the neighbor

of our friend. We talked to him he was quite pleased and happy that we are providing him

another opportunity to polish his skills. He was ready to take a great start with us. We started

our project and opened our shop in the market as Mr. Israrhas already enough experience of

doing business and dealing with the customer but he has not any experience of providing latest

OS for mobiles or flashing services. So we got training of mobile flashing from Mr. Waqarfrom

whom we purchased the device and then we taught that all to Mr. Israr.

Investment was done, shop was opened, and employee was hired. The next step was to start

our Promotion. We need to use our unique selling prepositions (USPs) as we have already


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done enough marketing now we just need to make the visiting cards so that our customers can

contact us. We also advertised it through words of mouth and through SMS to all the friends,

and relatives.

The Actual Business As it is mentioned above that our actual business is to provide the Mobile phone flashing

services that can actually satisfy the customers. We have to make our strong position in

customers mind through quality services.

The exterior & interior of the shop


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Marketing and Sales

Marketing plan forWNW Communications

Survey

Market segmentation & need analysis

SWOT analysis

Marketing mix

We did our marketing through print media (banners, visiting cards) and SMS to friends. On

visiting cards we have provided our contact details.


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Visiting card

This is the format of the banner which we hanged at the main entrance of the shop so that we

can get some attention in the market.


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Employee Hiring

Mr. Israrhas two years of experience in mobile phone repairing. Mr. Israrbasically belongs to

poor family who is supporting the whole family with his business income which is not enough to

feed the whole family.


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Cash

outflows and

inflows

Date 3/7/2011 3/8/2011 3/9/2011 3/10/2011 3/11/2011 3/12/20111st

week Days Monday Tuesday Wednesday Thursday Friday Saturday Total

Cash

out

Operating

Expenses 1000 0 0 0 0 0

Other Expenses 100 102 1000 200 0 0

Total Expenses 1100 102 1000 200 0 0 24

Cash in Services Provided 0 0 0 150 100 350

Total Revenue

Profit/Loss -18

Date 3/14/2011 3/15/2011 3/16/2011 3/17/2011 3/18/2011 3/19/2011

2nd


Cash

out Expenses 0 65 40 0 30 50

Cash in Services Provided 500 440 350 660 150 135 2

Profit/Loss 20

Date 3/21/2011 3/22/2011 3/23/2011 3/24/2011 3/25/2011 3/26/2011

3rd


Cash

out Expenses 40 0 0 155 112 62


Profit/Loss 1


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ROI (Return on Investment)

Out total investment were about 34000. Below some details are given that how we spent and

manage our expenses.

Date 3/28/2011 3/29/2011 3/30/2011 3/31/2011 4/1/2011 4/2/2011

4th


Cash

out Expenses 52 60 150 0 0 0


Profit/Loss 19

Date 4/4/2011 4/5/2011 4/6/2011 4/7/2011 4/8/2011 4/9/2011

5th


Cash

out Expenses 0 30 0 67 0 0


Profit/Loss 2


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Total Project Budget Rs. 34,000 approx:

Currency PAK-RUPEES

Device Rs. 9,000

Computer (CPU) Rs. 7500 1 PC

Monitor Rs. 2500

Cables Rs. 14000Training (flashing device) Rs. 1000

Other expenses(Adverting, fare etc) Rs. 1500

THE CASH INFLOWS AND CASH OUTFLOWS NOTE

At the end of the April 2011 our total revenue was about 19650. We are hoping to reach at

break even within one month without selling our Mobile phone flashing device.

Learning from the Mistakes

Jahanzaib Shahzad

First of all thank you dear sir for giving us kind this opportunity of doing business practically. I

have learned that we have to collect more amount of money than the required one, so that if

more money needed than we do not face any financial difficulty, as we have faced in this

business. Other thing is that the training is most important part of any business, because of less

knowledge about our device to our employee we faced a little loss, and in very first week he was

unable to flash some mobile phone handsets. Last but not the least, give employment to the

person who needs it, who deserves it not to someone who is your friend or friend of friend.

Muhammad Hussain Bijarani

Life is learning, learning is experience; experience that we share keeps us alive. Each and

every part of our life is the learning. This project also taught me lot, which are very beneficial for

my professional life, in the future. First of all I got problem of cash to collect the investment and

then divide the costs and expenses. Although this investment was at low level each of us

invested equally.


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Secondly I want to mention is that this project was team work and this taught me how to work in

a group and how I took my part in the team for the business, before I have not even thought of

doing my own business, but after this task I have made up my mind that I will continue this

business and of course will expand it. In shot it was a great experience.

Waheed Khan

As for as experience is concerned, our business need it a lot. First of all buying required flashing

device is a main task i.e. which flashing device is of good quality related to our requirements.

Due to lack of experience this was a challenging task for us. For this purpose we have visited

many shops and ask them about the flashing devices and connectivity cables, which consume a

lot of time.

Secondly, operating flashing device need a lot of experience too. Every model of mobile phones

has its own method of loading flashing files, so it was a great problem for us. Because of this we

have done many mistakes while doing flashing. Some customers have been returned due to

lack of experience. So there experience counts too. But now we learned from this mistake and

one person of our group has done short flashing course (3 days course) by paying 1000 to

overcome these problems.

Faheem Ahmed Channa

I have learned a lot and the main thing is that we now have a sensible experience of doing abusiness. Steps by step doing a business, how to be a person on which customer will rely, and

every time think about our next move by keeping expending business thing in mind.

WNW Communications vision for coming 20 years.The purpose of our business is to get rid of the software piracy this is one of the strong

purposes of our business and to be the leading provider of mobile phone flashing services to all


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our customers, and we have decided to launch a new idea of providing mobile phone registered

applications, which will help us to end this piracy of mobile phone applications from our beloved

country. As we provide registered mobile phone operating system softwares, this literate and

awaked community will be our target for coming 20 years and I hope if we continued our

business we will be successful while achieving our objectives and goals. In coming 20 years we

will be one of the Pakistans huge organizations.

WNW Communications core purpose of the vision.As I have mention above the core Purpose of our vision is to remove the software piracy form

Pakistan. Which has tendency to inspire the people, what we need is framework which is

actually a correct path.

SWOT analysis

STRENGTHS Monopoly in the market Lower charges Original Nokia connecting cables Only shop with complete Nokia

mobiles flashing availability

OPPORTUNITIES Potential market Demand for quality services Need for door step services Unlocking codes

More investment


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WEAKNESSES New in business New models of mobiles Difficulty of softwares Lake of Experience Partnership

THREATS Law and order situation New competitor Piracy of softwares

ConclusionWe are very happy about our work we know that we have learned something which will be very

profitable & helpful for us in our future.

Entrepreneurship is the course which is totally different from other courses of BBA. Rests of the

courses are programmed to make students perfect for corporate jobs and entrepreneurship in

which students learn how to be an entrepreneur.

We are very thankful to Sir Omer Javaid that he provided us such a great opportunity to do this

project and to be an entrepreneur in bona fide world. This project really helped us to understand

the market environment and makes us realize the importance of practical work.

We worked on this project and it has really increased our morals it has given a charisma to our

personalities, we saw many rise and falls and how to face those situations, how to cope up with

those ups and downs. These activities and practical work has made us very responsible in our

personal and as well in our professional life.

Documents

Final Report of Entre