Small Business Plan

My Books:
Small Business Plan

Presented By:

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Table of Contents 1.0 Executive Summary………………...………………………………………………..4 1.1 Location and Operations……………………………………………...……….4 1.2 Marketing……………………………………………………………………...5 1.3 Financial Projections………………………………………………...…..…….5 2.0 Company Description……………………………………………………...……...…6 2.1 Mission Statement……………………………………………………………..7 2.2 Company History………………………………………………………….......8 2.3 Products/Services………………………………………………………….….9 2.4 Business Goals………………………………………………………...……..10 3.0 Industry Analysis……………………………………………………………….…..11 3.1 Seasonality……………………………………………………………….…..14 4.0 Target Market…………………………………………………………………...….14 5.0 Competitive Analysis…………………………………………………………….…16 5.1 Weakness………………………………………………………………….…18 5.2 Opportunities…………………………………………………………………19 6.0 Marketing plan…………………………………………………………………...…19 6.1 Target Market…………………………………………………………….…..19 6.2 Marketing Communication Strategies………………………………..…...…20 7.0 Operations……………………………………………………………………….….23 7.1 Premises…………………………………………………………………...…23 7.2 Legal and Licensing Requirements……………………………..……………24 7.3 Management Details…………………………………………...………….…25

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7.4 Organizational Structure……………………………...……………….……..25 7.5 Human Resources Plan……………………………..………………..………26 8.0 Long Term Developments.……………………..…………………………….…….27 9.0 Financial Projections……………………………………………………………….28 9.1 Keys to Success………………………………………………………………29

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1.0 Executive Summary Starting an online e-bookstore has been an overwhelmingly interesting business idea aimed at yielding admirable results. The business will be named My Books which is aimed at providing online access to books of all academic levels. Users of the Amazon Kindle and the Barnes and Noble Nook, alongside other e-books, will have online access to purchase books. My Books is a start-up online book retail that is aimed at giving a solution to all students’ queries as well assistance to scholars in various fields. The key motive of the business is to offer a solution to the present crisis in book provision as well as offer handsome returns to the investors. Due to the nature of the business, the workforce will be very minimal. In this case, the business is aimed at employing 15-25 employees who are to undertake the various operations. All operations will be IT oriented thus requiring people with high skills and experience. 1.1 Location and Operations The business is planned to be located in New York, whereby it will be its headquarters and physical office. Importantly, it should be noted that, the business is not solely looking for the local market but is overwhelmingly interested in the global market. A number of strategies have been formulated to ensure effective competitiveness of the business in reference to other businesses in the industry. The most outstanding strategy for luring the attention of the customers is the adoption of competitive prices which will be able to meet the financial status of a wider population. A dominant selection and storage of products has been prioritized so as to ensure customers are fully satisfied with the services and products of the businesses. In this case, the business is planned to store a

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diverse variety of books in all fields of study thus being able to accommodate all customers’ needs. 1.2 Marketing The business is targeting college students alongside other scholars. This is following the increased reading culture among people of different regions of the globe. Market research conducted on various learning institutions in different parts of America, Asia and Europe shows a significant crisis in learning materials thus the need to establish the business. The marketing strategy of the business are also planned to be very efficient. In this case, the use of internet advertisement as well as the use of email has been prioritized. The customers’ web page is also designed to be very appealing so as to be able to draw the attention of internet users. Other marketing strategy to be adopted in the business includes the use of efficient communication methodologies like public relations as well as the use of the media. Importantly, the business is aimed at meeting the needs of local and international students and scholars. 1.3 Financial Projections The business is planned to be a private limited company; whereby some of its shares will be traded in the New York Stock Exchange. The startup capital will be mobilized through loans and contributions from shareholders. The startup capital for the business is set to be $135,000. This is for ensuring establishment of the business websites, the internal IT infrastructure as well as the salaries for the first twelve months of operation. On the other hand, the company has also projected an appealing and admirable profit margin for the first three years. The annual sale projection for the 1st year of operation is $200,000. This is expected to increase to $320,000 and $410,000 in

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the 2nd and 3rd year of operation respectively. In this regard, a net profit of $100,000 is expected in the 1st year operation. In the second year of operation, the profit is expected to rise to approximately $160,000. The profit projections for the third year of operation are $250,000. This increase in net profit for the first three years of operation is based on the intensive promotional campaigns planed to be taken in the 1st, 2nd, and 3rd year of operation. 2.0 Company Description The business name will be My Books; whereby it will specialize in online selling of a wide variety of academic and other scholarly materials. My Books will conduct online selling of e-books to students from all parts of the globe. My Books will be a private limited company registered in the state of Ohio. James Vinck and Aden Johns who are former head librarian of Philadelphia City Library will be the directors of the company. Their expertise and financial contributions to the business will guarantee them to have a significant share of the business. The two directors are retirees with profound expertise in library skills and will be able to contribute profoundly to the business. By joining the business, they will be able to supplement their retirement as well as help the business to attain higher heights. My Books is establishing its business in a newly emerging industry, thus giving an opportunity for handsome returns. The company’s head quarters will be in New York, whereby the executive management and other employees will be able to operate. Due to the size of the organization and the human resources, the organizational structure will not been very complex. In this regard, the directors will be the key decision makers of the business, whereby they will be liable of formulating key policies on behalf of the business. Only

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one manager and assistance will be recruited to head the business. This will be the only executives of the business; whereby all other employees will fall under. The aspect of website development and maintenance will be the main asset and central focus of the business operations. Based on this insight, My Books is aimed at ensuring the most efficient software in its website and IT infrastructure. Book storage of all variety will be prioritized in the business thus ensuring that clients are fully satisfied. The company will is aiming to capture the attention of all customers by ensuring that a wider stock of books is maintained. The purchase of books from different authors will be the main production process of the business. Alongside books, the company will also be involved in stocking a wide variety of other reading materials that will be appealing to customers. 2.1 Mission Statement The business is focused to establish of market leadership in online book selling by maintaining quality standards. Basically, My Books is focused to prioritize customers’ interests by ensuring customers get the best for their money. The concept of good pricing will be a key aspect of consideration by the business in the endeavors of attracting and retaining customers. In connection with this phenomenon, My Books is focused to setting the most competitive prices that will ensure all customers’ financial status are put into consideration. On another perspective, My Books is also focused to establishing a sustainable organizational culture. This will be made possible by ensuring good relationships within the organization. The aspect of quality and efficiency will be addressed by ensuring recruitment of the most efficient and competent personnel. My Books intends to be the book store of America. The morals of integrity, honesty,

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accuracy and objectivity of client’s information will be prioritized in ensuring customers get the best from the company. My Books has also established viable strategies that will ensure utmost respect is given to all stakeholders. In this case, the business will be in the forefront in ensuring protection of the rights of business owners, clients and the wider community. Quality and efficiency in the provision of services to the clients will be ensured so as to establish loyalty and trust. In addition, the business will also ensure adherence to the virtues of integrity and transparency so as to ensure ethics is enhanced in the business undertakings. Employee motivation has also been prioritized by the business so as to ensure efficiency and competence at work. In relation with this phenomenon, the business has planned to ensure compensation to employees for the services they offer to the business. In the case of investors and business owners, My Books is set to ensuring high returns to compensate their investment. By enhancing the attainment of high rates of profits, the business will ensure the investors and business owners are adequately rewarded. Additionally, the business is also set to ensuring high sense of corporate social responsibility. This will be achieved by ensuring the business involves in ethical and admirable business practices. By so doing, the business will be able to satisfy and protect the interest of the community. With concept in mind, the business is focused to be the market leader and enhance order and competency in the industry. 2.2 Company History My Books is a new innovative which grows from the wider book industry. The business idea of starting the online e-book stores was borrowed from the operation of such businesses in recent days as well as market research which has revealed significant

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crisis in the book industry. The gap in the supply and demand of books and other reading materials has been a key motivator to the start of such a business. Market research conducted in various learning institutions shows an overwhelming crisis in library services thus calling for urgent intervention. The organizational structure of the business will not be complex due to the limited number of human resources to be incorporated in the running of the business. There will be two directors who will be the overall decision makers of the company. The business will also be led by one manager and his assistance that will be responsible for the daily operations in the business. The business is not fragmented into many divisions since all the operations will be centralized. It should also be noted that, the recruitment process is set to be purely on merit. Experience and expertise in library skills will be an outstanding factor in the recruitment process so as to ensure the employees are competent. 2.3 Products/Services The main products and services for the business will be e-book of varied category. Amazon Kindle, Barnes and Noble Nook, among other e-books will all be provided by the business. In this case, My Books is aiming to ensure that there is a diverse variety of books alongside other scholarly materials that will be able to serve the needs of the customers. The company website and the purchased e-books from different authors will be the main assets of the business. Due to the nature of the business, there will be no other products provided by the business apart from the e-books. These products and services are in correlation with the changing trends in the education and literacy levels of the society.

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2.4 Business Goals My Books is set to accomplish a number of goals and objectives for the first three years. The set objectives and goals of the business will be able to guide the daily business activities so as to facilitate success in performance. Some of the key objectives of the business include the following: To begin with, My Books is aimed at keeping cost of services to below 35% of revenue. By so doing, the business will be able to ensure profitability is guaranteed. The business will be able to meet the expected profits by maintaining the cost of services to be less than 35%. This phenomenon will be attained through ensuring minimum employee recruitment. Due to the nature of the business; whereby IT will be adopted in all processes it will be able to attain low costs. My Books is also set to ensure a sustainable business environment which will be able to safeguard the interests of all stakeholders. This is through ensuring efficient and quality services as well as maintaining competitive prices. By so doing, the business will ensure all clients’ need is met. The business is also focused to ensuring meaningful salaries for employees. My Books will ensure employee labor cost is at the range of 24-29% of the revenue. This ensures that the employees are not suppressed as well as leaving a sustainable return for the business. By so doing, the business will be able to attain its objectives. My Books has a strong focus in ensuring that a 12% return on investment is maintained in the first year of operation. In addition, a 15% return on investment

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is expected in the second year of operation. Additionally, the business is also strongly focused in ensuring an increase in return of investment from 15% to 17% in the 3rd year of operation. My Books is aiming to operate a profitable online book store that will be able to employ 15 to 25 employees in the first year and ensure that their interests are adequately protected. The business has a strong passion of maintaining market leadership in the online book industry; whereby it will be able to meet serve an enormous population. Precisely, My Books is focusing to have 5 million regular clients from all parts of the globe. Alongside the long term goals of the business, My Books is also focusing to employment of the most efficient personnel who will competently execute the daily operations within the business. The company has decided to give compensation for employees for their services to the company. The salary scale for workers will be approximately $50,000; the business will be able to meet its operational costs thus being in a position to ensure considerable profit. The concept of efficiency in provision of services has been prioritized as a factor of maintaining market leadership. 3.0 Industry Analysis My Books falls under the wider e-book industry; whereby online selling and purchase of e-books is conducted. The e-book industry is a new industry which has cropped up in recent days. This industry has been enhanced by the present developments in technology whereby many things are conducted through the internet. With the revolution of internet technology in recent days, many businesses and transactions are at

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present conducted through the internet. Precisely, the development and advancement of search engines like MSN, Google, and Yahoo have facilitated internet businesses. In this case, Google is the market leader in the search engine industry whereby it has been able to coordinate and facilitate many activities with the use of internet. Based on this phenomenon, the e-book industry is a new business venture which has gained momentum in recent past following the revolution of internet. The industry has not been very competitive since not many players have entered the market. An important note is that, the industry provides lucrative business ventures. This is so because there are not many players in the industry thus leaving potential market for the few players in the industry. Additionally, the adoption of modern technology in the business operations also leads to high profits. The use of internet selling and marketing ensures economies of scale as well as limited number of personnel thus cutting down the number of human force to be incorporated in the business operations. In recent days, majority of the world population is computer literate thus making it possible for the business to enjoy wider market. Market research in the e-book industry has shown that, there is a growing culture of intensive internet dependence among college students thus making the industry very sustainable. From another perspective, the e-book industry is also gaining momentum due to the advancements in technology; whereby the world is being transformed into adoption of IT in all human process. A point worth of consideration is that the e-book industry is enjoying relevance in recent days due to the increase in world literacy. The education sector is rapidly growing in all parts of the globe thus leading to overwhelming demand for reading materials. It

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has been noted that, developed and developing nations are due a lot of developments in prioritizing education thus making every citizen computer literate. With the growth and advancement of search engines in present days, the concept of online business has been facilitated. This has been a key factor in ensuring that the e-book industry is facilitated. A point worth of consideration is that, search engines like Google and MSN are charging reasonable charges for their services thus making the industry profitable. From another perspective, the e-book industry is gaining relevance in all parts of the globe due to the concept of globalization, urbanization, industrialization and liberalization of markets. Through these concepts, the world population has been made closer together as well as ensuring easy processes in conducting business. With the issue of urbanization, people are able to receive a wider variety of services which are technologically supported. Through this phenomenon, the aspect IT is facilitated thus justifying the sustainability of the e-book industry. The e-book industry has also been facilitated by the increased conscious for efficiency among the world population. This has been due to the factors of urbanization and industrialization whereby the economic structure of different societies has been altered. In this case, people no longer have time to waste in going to libraries due to the economic orientation of their societies. With this in mind, the concept of e-book purchases come into play. This is so because, through the adoption of e-books, people are able to save a lot of time and money which they would have otherwise spent by purchasing books or going to libraries.

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3.1 Seasonality The trends in business in the e-book industry have been nearly uniform throughout the year. This is so because; the aspect of e-book buying and reading is correlated with the educational processes which are in most parts of the globe conducted all year round. It is of great importance to note, the educational systems and calendars are nearly the same throughout the globe thus making the demand for e-books nearly uniform throughout the year. Nevertheless, during the summers, there has been a tendency of students and scholars relaxing in the aspects of reading. This may be reflected in the industry through decreased sales volumes as compared to other seasons of the year. Nevertheless, the low sales and losses expected during the summers can be compensated through the high yields gathered through from other parts of the year. The key factors overlying the industry are the issue of IT infrastructure and the concept of search engines. This is so because the business in this industry cannot be conducted without stable internet services. A point worth of consideration is that the industry is purely dependent on internet and modern technology. With this in mind, the industry is very sensitive and highly dynamic to any changes in technological advancements. Based on these insights, it has been noted that, all key players in this industry have full established efficient IT infrastructure in their premises. This is aimed at ensuring efficiency and quality standards in the provisions of services. 4.0 Target Market My Books business is basically targeting college student of all parts of the globe. The high demand of books by college student has been the main factor to the establishment of this business. Market research in the higher education learning systems

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has shown an overwhelming crisis in library services. Most of the educational systems are not fully equipped with the basic learning materials thus leaving back a serious demand gap. It has been of great significance to note that, purchase of books is more expensive as compared to the purchase of e-books. With this in mind, students find it easier to purchase e-books to supplement their lectures. Additionally, the changing trends in the education systems also give a potential market for the e-book business. In relation with this phenomenon, e-learning has been the modern advancement in education. In regard to this concept, students no longer rely on books in the school library but rather have the obligation of purchasing their learning materials. Based on this case, there has been developed a high demands of books among students in recent days thus promising a potential market for the businesses. On the other hand, e-books are also convenient for students in relation to visiting of libraries in the academic institutions premises. In the United States, a market of around 5.8 million students is targeted in the first year of peroration. This is expected to rise to rise to approximately 12.5 million students at the end of the 3rd year of operation. My Books is also targeting more than 10 million students in Asia and Africa combined as well as 12 million students from Europe. Based on this statistics, the business is projecting to have a very potential target market that will be able to provide high sales and profit for the business. The business is aiming to reach a wider population of students from all corners of the globe. This phenomenon is facilitated by the developments in technology which is being realized in present days. An important note is that nearly all parts of the world are at present endowed with modern technological infrastructure. The present revolution in

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technology has made it easy for people to have internet in their homes and job places as well as other institutions. The young population is the main target of the business since they are directly affected by the services offered by the business. The developments in industrialization have led to a rapid development in the electronics industry. In this case, computer manufacturing has been facilitated in large scale thus leading to a drastic decrease in prices. The manufacture of laptops in recent days has also been an important development in technology thus making it possible for the sustainability of the e-book industry. With this in mind, many students in all parts of the world have laptops and access to internet thus making it possible to reach the business websites. This phenomenon will make it possible for the business to be able to reach the target market easily. 5.0 Competitive Analysis My Books has no direct competitors in the present market of the e-book industry. This is so because; the industry has not been fully developed. The e-book industry is a new venture in the market which has not yet attracted many competitors. With regard to the My Books, no direct competitors to the business thus establishing a favorable business environment. Most of the e-book businesses in operation in the industry are medium and small scale thus leading to a significant gap in the provision of the services. In this regard, the proposed size of the My Books as well as the stability in resources endowment is a potential factor in guaranteeing the success of the business. From another perspective, the My Books business is also potential of prevailing in the market due to its competitive advantages. This is broadly on the basis of the organizational structure as well as the human resources. In this case, My Books is

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planned to have the most competent and experienced personnel. This will be catered for through adoption of a competitive recruitment process. All individuals to work in the company will be selected on merit thus ensuring they are capable of meeting the business objectives and goals. In addition, the company is also adequately positioned by having directors who are fully empowered with library skills. This is so because they are retirees with profound experience in library skills and e-book operations. My Books is also properly positioned on the basis of technological development and infrastructure. In this case, My Books has done profound investment in ensuring that the IT infrastructure in the organization is the best in the industry. It has been noted that, all the IT to be adopted by the business are highly sophisticated thus being in a position to ensure efficiency in the provision of services as well as facilitating various transactions. On the other hand, My Books is also set to establish various websites; which will help in marketing the business. In relation with this phenomenon, the websites development is of modern design thus making it appealing to the clients. On the other hand, the issue of outsourcing of IT services is also set to be adopted by the business. In this case, My Books is set to reinforce its IT infrastructure by ensuring that it seeks professional IT services from IT service providers. This is aimed at ensuring quality and efficiency in services provision to clients. This will be an added competitive strategy that will see the business counter the efforts of its opponents. Additionally, the marketing communication strategies to be adopted by My Books are also set to ensure adequate competitiveness of the business. In this regard, a number of promotional and marketing mix have been formulated thus will help in positioning the business as well as its services. For instance, the pricing strategy of My Books is set to be

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the best in the industry. This will be achieved by ensuring that the organization maintains the most competitive prices in the industry. Further, My Books is focused in ensuring efficient website and media advertisement. By so doing, the business will be adequately positioned in reference to its opponents. Free samples and discounts will also be offered to the first clients during the opening of the business. This will help in establishing customer loyalty and trust thus being able to guarantee the sustainability of the business. 5.1 Weakness Despite the remarkable strengths of My Books, there has also been realized some potential weaknesses. The major weakness of the business is on the basis of financial constraints. The financial projections of the business show some significant crisis in meeting the business establishment as well as other operational expenses. The business has limited capital endowment which may compromise the quality of facilities and human resources to be recruited in the organization. Despite that, My Books is potential of mobilizing more capital as compared to other business within the industry; there is still an overwhelming deficit in the realization of optimum financial resources which may facilitate efficient business establishment. The organizational structure of My Books is set to be very simple; which will be composed of a limited number of employees. Precisely, the organization is set to comprise only 15 to 25 employees. The number of executive will be only four; which will comprise two directors, one manager and his assistance. Based on this insights, an alarming human resources and management crisis is potential of evolving in the business. Despite that, all the operations will be technologically oriented, the limited number of

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employees may lead to low employee motivation thus comprising quality and efficiency in service provision. 5.2 Opportunities The changing trends in the educational systems are posing lucrative opportunities to the e-book industry. Precisely, the concept of e-learning is a great development in the education sector that is opening new business opportunities. With relation to the advancement in technology, many educational institutions across the globe are offering elearning programs. Based on this emerging trend in the education sector, the e-book business will be able to double its sales and target market. Most of the students undertaking e-learning programs find it more convenient to purchases e-books and other learning materials online as compared to visiting the physical libraries. The aspects of cost and time are well catered for by the e-book business thus being able to attract a larger population. With these insights, My Books is liable of expanding its operations so as to meet the expected high demand. 6.0 Marketing Plan 6.1 Target Market The services of My Books are specifically designed to benefit college students among other scholars. The business will be stocking a wide variety of e-books that will be able to offer extensive knowledge on different academic fields. My Books business is basically targeting college student of all parts of the globe. The high demand of books by college student has been the main factor to the establishment of this business. Market research in the higher education learning systems has shown an overwhelming crisis in library services. Most of the educational systems are not fully equipped with the basic

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learning materials thus leaving back a serious demand gap. With this in mind, the services to be offered by My Books stand to be of great importance. It has been of great significance to note that, purchase of books is more expensive as compared to the purchase of e-books. With this in mind, students find it easier to purchase e-books to supplement their lectures. Market research and analysis on the issue demand and supply of e-books across the globe has shown an overwhelming crisis. In this case, there has been identified an approximately 35 million students across the globe with overwhelming demand for ebooks. Based on these statistics, My Books is set to capture a good share of the market thus being able to meet its objectives. Precisely, My Books is focusing to have 12 million clients by the end of the second year of operation. With this in mind, the business will be able to accumulate sufficient sales that will be able to yield admirable profits for the business. Market research carried on the education sectors of different nations has shown overwhelming crisis in learning materials. Books in various book shops go for very high prices compared to the e-books thus making it hard for students to be able to purchase them. Additionally, most of the local libraries and bookshops have not been able to stock a sufficient variety of books to meet local demand. This phenomenon has made it essential for establishment of e-book stores. Based on this insight, My Books will be in a position to satisfy the needs of the high market. 6.2 Marketing Communication Strategies With regard to the stiff competition in the e-book industry, My Books has established efficient strategies that will ensure competitiveness of the business. My

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Books is focused to establishing the most efficient and effective marketing strategies and mix. The business will be able to adopt all strategies at its disposal to ensure it is properly positioned in the market thus being able to exhibit appealing performance. Some of the marketing communication strategies to be adopted by My Books include the following. To begin with, proper pricing will be prioritized by the company. The business is set to ensure adoption of the most competitive prices that will be able to accommodate wider diversity clients. This is set to ensure that, all financial groups and status of clients are taken care by the prices. For instance, most of the clients of the business will be college students who have limited sources of income. With this in mind, the prices will be set to be competitive enough so as to meet the needs of these clients. The aspect of advertisement will also be prioritized by the business as a marketing communication strategy. Website advertisement will be the most form of popularizing the business among the clients. This has been catered for through the company’s websites; whereby all information regarding the company and the services being offered are given. The company will partner with big search engines like Google, yahoo and MSN to ensure it is adequately advertised. This phenomenon is based on the fact that, many people in present days are computer literate and in position to use the internet. Additionally, IT has also developed across all corners of the globe thus making it possible for many people to access internet. Further, media will also be adopted in marketing the business; whereby the television and business magazines will be utilized. Another marketing communication strategy to be adopted by My Books is on the concept of public relations. This is an efficient communication methodology that is aimed at ensuring that the image of the business is safeguarded among the customers and the

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general public. The concept of public relations is an inevitable strategy in the endeavors of attaining success in any business. Good communication methodologies will be adequately adopted so as to ensure favorable relationship between the business and the wider community. Trade show support, sales collateral and direct mail among other communication procedures will be adopted. With adoption of these strategies, the business will be assured of winning the loyalty and trust of customers. This will on the other hand, guarantee and assure the future success of the business. Trade shows will also be adequately adopted by My Books. In this case, the company will ensure full participation in trade shows and exhibition whereby it will be able to educate consumers on its services. Apart from popularizing its services among the public, the business will also be able to learn the recent trends in market and strategies of its opponents. By learning new information regarding market trends, the business will be able to adopt the most effective and efficient marketing procedures. This will ensure adequate and intervention to clients’ needs thus enhancing customer satisfaction. Efficiency and quality of the services offered by the business will also be adequately adhered to so as to ensure customer satisfaction. Quality and efficiency in the provision of services will be achieved through employment of the most competent personnel. In addition, the establishment of modern equipments and facilities in the process of establishing the IT systems will also be of great importance. Employment of competent and informed personnel will ensure adequate intervention to the customer’s needs. The concept of efficiency and quality in offering services will not only help in countering the forces of competitors but also ensure increase in customers’ loyalty and trust.

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7.0 Operations 7.1 Premises The physical offices of My Books will at in Wall Street in New York City. This location has been identified to the commercial nature of the place and the high security status. Despite the high rates of interests on the premises, the business will be compensating the high expenses through the high revenues. My Books will operate on rental offices due to the high costs of purchasing or establishing offices. This is where all the executives and employees of the business will be located. All the physical facilities and IT infrastructure of the business will be located in these premises. A point worth of consideration is that, My Books has chosen to operate in Wall Street due to the development in the area thus giving a favorable business environment. The issue of IT infrastructure in the region will also help in facilitating the business operations. Due to the nature of the business and services to be offered, the business will not require extensive land or offices. This is also supported by the concept of IT whereby all operations in the organization will be based on modern technology. The business will also adopt open office design. This will ensure efficiency in space utilization as well favorable working environment. All employees in the business will have desktops in their desks; which will be adequately networked. By so doing, communication within the organization will be enhanced thus leading to efficiency. The business will establish the most efficient and sophisticated IT infrastructure that will help in enhancing quality and efficiency of services. My Books will utilize the services of highly competent technicians for establishing and installing the IT infrastructure in the business. The IT facilities of the

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business will be highly sophisticated to ensure that efficiency in data transmission is enhanced. On the other hand, My Books will partner with Google in developing and running its websites. This is the key focus of the business operations, whereby all services and products offered by the business will be conducted. The business will develop several websites some of which will be specifically for marketing and others for selling the products. Apart from the websites and the IT infrastructure, My Books will also purchase vans that will help in employees’ transportation. 7.2 Legal and Licensing Requirements The business name will be My Books. My Books will be registered in New York thus giving it the mandate to operate in the region. A key partner to the business will be Google which will be in charge of all business websites. The business will be a limited company; whereby its shares will be publicly traded in the New York Stock Exchange. With the concept of trading the shares openly in the NYS, the public will have a chance to purchase the business shares. James Vinck and Aden Johns will be the directors of the company, whereby their shares and expertise in e-book stores gives them a considerable stake in the business. Precisely, James Vinck and Aden Johns have a majority share of 25% and 22%. With these statistics regarding share capacity, the voting rights will also be in correlation with this aspect. Additionally, My Books will also seek an operation permit; whereby it will be registered under the public companies act. Due to the liberal economy adopted by the United States government, the process of seeking the business permit will be easy. This is so because, no barrier to entry in the market thus enhancing competition. From another perspective, the issue of monopoly is also inexistence in the e-book industry thus giving

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open opportunities to new participants in the business. My Books opportunities in the ebook industry are also facilitated by the concept of limited businesses in the industry. With this aspect, the entry into the market will be easy. 7.3 Management Details James Vinck and Aden Johns will be the directors of the company whereby they will ultimate powers on management of the business. The directors will be responsible for formulating strategies and policies to guide the operations of the business. Other executive in the business will be a manager and his assistance that will be responsible for facilitating the daily activities within the organization. An important note is that, the recruitment process will be basically on merit; whereby all candidates interested in the post must be of high credentials. By so doing, the business will be able to ensure efficiency and quality in the provision of services. Another key management aspect is on the concepts integrity and transparency. With this in mind, the business will be assured of maintaining good image that will ensure loyalty and trust among the clients. 7.4 Organizational Structure Based on the small size of the business, the organizational structure will not be so complex. The business will only have four executives who compose of two directors, one manager and his assistant. The directors will be responsible of dealing with all policy issue of the business. In this regard, the directors will be able to formulate favorable policies regarding running of the business. From another perspective, the directors will be also liable of monitoring and evaluating the general entire performance of the business. On the other hand, the manger and his assistant will be responsible for executing and implementing the formulated policies of the business. In this case, the manger and his

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assistance will ensure smooth running of the business by delegating duties to junior employees. All issues emerging in the daily running of the business will be under the control of the manager and his assistance. My Books is also focused in ensuring adoption of proper strategies in the management of the human resources. The organization culture and relationships is set to be the best in the industry. This will be facilitated by adoption of favorable workermanagement relationship. With this in mind, the level of motivation among the employees will be enhanced thus leading to high levels of efficiency and productivity. Proper management and leadership styles are also set to be adopted in the organization thus guaranteeing good human relations. Based on this situation, My Books is set to ensuring conflict free environment within the organization as well as evading any loopholes for misunderstanding. Additionally, good communication methodologies and strategies are also set to be adopted by the business thus ensuring smooth operations. 7.5 Human Resources Plan With regard to the mission and vision of My Books, human resources are a vital asset to the organization. With this in mind, the organization is set to establishing and adopting viable strategies and structures that will ensure optimum protection of employee welfare. The organization is set to employing 15 to 25 employees who will help in executing the various roles in the business. Due to the nature of business operations, all employees will be skilled and with adequate knowledge on IT and e-book stores. The process of recruitment will be competitive enough to ensure that the organization gets the most competent staff. Importantly, My Books is also focused in ensuring efficient employee benefits plan. In this regard, the organization will ensure optimum protection of

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employee’s welfare. This will be of great importance in enhancing employee motivation thus boosting efficiency and output. My Books will ensure adoption of the most efficient and favorable leadership styles. For instance, transformational leadership style will be of great importance. This is based on its efficiencies in ensuring employees are nurtured with the relevant knowledge and skills. Additionally, adoption of appropriate leadership styles will ensure good organizational relations. This will in turn lead to corporation and high levels of motivation thus leading to high efficiency and output from the employees. 8.0 Long Term Developments My Books has an overwhelming desire to be the market leader in the e-book industry. In this respect, the organization is aimed at increasing its services and ensuring access to all corners of the globe. Basically, My Books has a dream of establishing over 25 million regular clients at the end of third year of operation. This number is expected to double to 50 million at the end of the 5th year of operation. With this statistics, the business will be able to attract considerable sales volumes and ultimately high profits. In addition, My Books is aimed at opening bigger offices as well as purchasing its own premises. This will all be located near its current location in the Wall Street. With the expansion of the offices, the business will also embark of installation of more efficient IT infrastructure that will ensure efficiency and quality in service provision. On the other hand, the employees of the business are also expected to double after the 5th year of operation. With this in mind, My Books will be able to command a competent and efficient workforce who will run the daily activities of the business. Additionally, My Books is also focusing to diversify its services at the end of the 5th year of operation. In

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this case, the business is planning to venture into the software industry; whereby it will be able to provide software of varied category. 9.0 Financial Projections My Books will be acquired through contributions of the directors as well as small business administrative loan. The directors are set to contribute 45% of the total initial capital. The startup capital of the business will be $ 750,000; which will cater for the establishment of physical infrastructure, IT infrastructure, purchase of e-books as well as salaries for employees. Analysis of the financial projections of the business shows that a monthly fixed cost of $100,000 will be incurred. A point worth of consideration is that, the e-book market has no strict seasonality. With this in mind, the operations will be nearly uniform all year round. The anticipated sales of the first financial year are $2.3 Million, $ 3.2 million in second year and $4.6 million in the third year. The consequent increase in sales is based on the marketing and promotional campaigns to be implemented by the business. On the other hand, My Books is focusing on an admirable profit in the first, second and third year of operation. A net profit of $750,000 is expected in the first year, $830,000 in second year and $1,050,000 at the end of the third year of operation. With regard to the financial projections of the business for the next three years, no financial crisis is expected to rise up.

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In respect to the financial projections of the business in the first three years, it is very evident that, the business will be able to attain high levels of profits. The financial status of the business is stable thus leading to avoidance of any financial constraints in the first three years. My Books is focusing to enjoy overwhelming productivity and profitability if all things go as planned. The high population of the target market is a key opportunity for expansion that will ensure high sales and profitability. With these insights, it’s very evident that profitability and sustainability of the business is guaranteed. 9.1 Keys to Success Based on the present competition in the e-book industry, My Books will be in the forefront in ensuring adoption of most marketing and production strategies. This will help in positioning its image as well as that of its services. With the adoption of most appropriate and efficient strategies, the business will attract a considerable number of clients thus help in stabilizing its sustainability and competitiveness in the market. Some

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of the key factors that are aimed at enhancing the success of My Books include the following -Facilitating efficiency and quality of services. In this regard, My Books is determined in ensuring adherence to high quality standards of the services hence ensuring competitiveness of its services. Efficiency and quality will be achieved through ensuring recruitment of the most competent employees. In addition, adoption of sophisticated IT infrastructure is also potential of enhancing quality and efficiency in provision of services. -The issue of modern forms of advertisement and organizational communication will be optimally utilized. The organization is focused in ensuring adoption of the most advanced technology in its operations. Precisely, the website design and development will be highly sophisticated to ensure they are appealing among the customers. Internet and media advertisement will also be adopted in popularizing the business as well as its services. -The marketing communication mix of My Books is actually the best in the industry. This will be an efficient intervention to the issue of competition whereby the business will be able to counter the forces of its opponents. Significantly, the pricing strategy will be adequately addressed to ensure that a considerable population of clients is attracted.

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