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8/6/2019 Final Report of Entre
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WNWCommunication
Entrepreneurship
1
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
week Days Monday Tuesday Wednesday Thursday Friday Saturday Total
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
week Days Monday Tuesday Wednesday Thursday Friday Saturday Total
Cash
out Expenses 40 0 0 155 112 62
Cash in Services Provided 450 150 165 225 450 150 1
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
week Days Monday Tuesday Wednesday Thursday Friday Saturday Total
Cash
out Expenses 52 60 150 0 0 0
Cash in Services Provided 425 550 900 0 200 150 2
Profit/Loss 19
Date 4/4/2011 4/5/2011 4/6/2011 4/7/2011 4/8/2011 4/9/2011
5th
week Days Monday Tuesday Wednesday Thursday Friday Saturday Total
Cash
out Expenses 0 30 0 67 0 0
Cash in Services Provided 670 590 820 150 460 280 2
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.