PROJECT FINAL REPORT

Jahanzaib Shahzad (4401) Muhammad Hussain Bijarani (3847) Waheed Khan (4401) Faheem Ahmed (3368)

WNW Communication

Entrepreneurship

2011

10717

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 ................................................................................................................................ 9 Cash 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

the real business environment. Our business name is WNW Communication which we started with the name of Almighty Allah on 7th 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. Israr and found perfect match between our business and his skills.

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 Idea

We 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 the WNW 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

5 Hiring of employee Marketing Providing services

Funds / Investment Collection

This 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 Currency Device Computer (CPU) Monitor Cables Training (flashing device) Other expenses(Fairs, lunch etc)

Rs. 34,000 approx: PAK-RUPEES Rs. 9,000 Rs. 7500 1 PC Rs. 2500 Rs. 14000 Rs. 1000 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. Israr is 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. Israr has 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. Waqar from 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

6 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

Marketing and Sales

Marketing plan for WNW 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.

8 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.

Employee Hiring

Mr. Israr has two years of experience in mobile phone repairing. Mr. Israr basically 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 1st week Cash out Days Operating Expenses Other Expenses Total Expenses Services Provided Total Revenue Profit/Loss 3/7/2011 Monday 3/8/2011 Tuesday 3/9/2011 3/10/2011 3/11/2011 3/12/2011 Wednesday Thursday Friday Saturday Total

1000 100 1100 0

0 102 102 0

0 1000 1000 0

0 200 200 150

0 0 0 100

0 0 0 350

2402

Cash in

600 -1802

Date 2nd week Cash out Cash in Days

3/14/2011 3/15/2011 Monday Tuesday

3/16/2011 3/17/2011 3/18/2011 3/19/2011 Wednesday Thursday Friday Saturday Total

Expenses Services Provided Profit/Loss

0 500

65 440

40 350

0 660

30 150

50 135

185 2235 2050

Date 3rd week Cash out Cash in Days

3/21/2011 3/22/2011 Monday Tuesday

3/23/2011 3/24/2011 3/25/2011 3/26/2011 Wednesday Thursday Friday Saturday Total

Expenses Services Provided Profit/Loss

40 450

0 150

0 165

155 225

112 450

62 150

369 1590 1221

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Date 4th week Cash out Cash in Days

3/28/2011 3/29/2011 Monday Tuesday

3/30/2011 3/31/2011 Wednesday Thursday

4/1/2011 Friday

4/2/2011 Saturday Total

Expenses Services Provided Profit/Loss

52 425

60 550

150 900

0 0

0 200

0 150

262 2225 1963

Date 5th week Cash out Cash in Days

4/4/2011 Monday

4/5/2011 Tuesday

4/6/2011

4/7/2011

4/8/2011 Friday

4/9/2011 Saturday Total

Wednesday Thursday

Expenses Services Provided Profit/Loss

0 670

30 590

0 820

67 150

0 460

0 280

97 2970 2873

ROI (Return on Investment)

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

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Total Project Budget Currency Device Computer (CPU) Monitor Cables Training (flashing device) Other expenses(Adverting, fare etc)

Rs. 34,000 approx: PAK-RUPEES Rs. 9,000 Rs. 7500 1 PC Rs. 2500 Rs. 14000 Rs. 1000 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.

13 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 a business. 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

14 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

15 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

Conclusion
We 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.