Strategic Entrepreneurship Slides

Ones stop Technologies SG Pte. Ltd.

1. All for you!

2. Explore. Nurture. Inspire.( Vidit)

3. Inspired by you

4. It feels like home.

5. Feel at home.

6. Making life easier.

7. One place. your place.

8. Right here. Right now. (Yang)

9. The right stuff of life.

10. Your life in a app.

(Choose one Tagline!)

Business Model Plan Summary One stop technologies SG is in the mobile application business which is a part of the information technology (IT) industry in Singapore. Application business in Singapore is at its peak right now which makes it the most favourable to venture. Our aim is to bring convenience into daily needs and maintenance by providing information and data on all the service based business on one platform, One stop mobile Application. One stop solves all problems of maintenance, extra-curricular learning, servicing etc. saving the hassle for individuals going out making calls, researching, cross checking pricing, ratings etc. One Stop focuses mainly on individuals new to the country, living alone, retire people, single/working mothers and foreign students. We believe Singapore has a very strong Information technology infrastructure available to everyone. Our team at One Stop believe in the power of the internet and how it can manipulate buying behaviours of customers around the world and so we would focus mainly on the social media marketing and use Facebook, Instagram, YouTube, Twitter as our main tools for marketing. The application is available on all major platforms for android and IOS. One Stop Mobile application will constantly work towards developing the application with more and more information, try to make it more user friendly and easy to understand. So apart from a strong marketing strategy, at one stop we believe in in maintaining our unique value proposition by staying different and providing free information for all the services provided which would make us the leading information providers in the market for service based businesses. Our main objective is to be profitable for all our stakeholders creating it a win-win scenario for all and that will add immense value to the company. We have provided with all the information further in the paper regarding the statistics projected for the next year and the goals that company aims to accomplish. One stop mobile Application aims to break even by the end of 2018 and gain profits in the later years.

Business Background

One Stop mobile application was born because of the hassles we went through when we first moved to Singapore. Our landlords wanted us to get the air conditioner serviced and we could not find one easily. After researching online, we did find an A/C contractor but then we could not compare the prices. A similar scenario came up when we had some blockage issue and we had to call for a plumber and that when it clicked to us that we should build a mobile application where everyone can skip the hassle of research and just get all the information on one platform and that when One Stop application was born. One Stop started in the year 2018, initially it took some time collaborating and deciding how the commissions were going to be made but once we had the policy straight everything went smooth.

One Stop quite literally is a one stop solution to all household, hiring professional problems. What makes us different is that we do not charge customers for our services but work directly with the service businesses on commission basis. Customers have access to all the data and information, and don’t have to pay extra for other services. Foreign students or individuals new to the country who have no idea how to deal with such situations of cleaning, servicing, or even extra-curricular activities and classes can easily book appointments on the application. The application provides every detail from pricing, ratings, recommendations, services etc. which makes people take decisions faster. In doubt the application allows customers to pay for services as and when the work is done and they don’t have to pay anything in advance. These are some services that makes us unique and which creates trust in the company.

The basic principle of One Stop is to provide individuals with convenience while connecting them to high quality, professional services. All the services affiliated with us will be verified and marked as trusted on the application. This would take their mind of the stress of handling things on their own and always know that there is a reliable source right at a touch of a button. The service that we provide is mainly for individuals who are new to the country like students, people who just migrated to Singapore, single/working mothers, retired citizens etc. who do not have the time or energy to deal with such hassles.

pCompany

One Stop technologies SG is an online solution to individuals seeking to hire professionals for service based activities. One Stop mobile application will solve mother’s problems of finding their kids the correct private tuition, dance class or any other extra-curricular activity for their kids. It will solve the hassle of organizing a party as even party organizers are available on the app. Household problems like plumbing or cleaning are no more a problem with one stop, it is just a click away. Buyers can search for make-up artists, to dance choreographers all in one place. One stop provides people seeking for fitness advise with dieticians, personal trainers, yoga experts, Zumba experts, meditation therapy etc. at a click of a button. For dance lovers, there will be a wide range of dance genres to choose from and can book a class by either calling them or leaving them a personal message. Weddings would be no hassle with the help of one stop, individuals can search for decorators, caterers, henna artists, dancers etc. with wide range of options. This application will be very useful for individuals studying in Singapore, with Air conditioner servicing contractors, plumbers, cleaning services, carpet cleaning, bathroom deep cleaning, cooking services etc.

The application allows customers to compare pricing, services, details, experience of professions. Individuals can give ratings and comments about their experience with the professionals which would help customers decide better. One Stop mobile application is currently for the region of Singapore and would expand as the company gathers information about such professionals abroad. The mobile app was launched and live in 2018 for free of charge on all android and IOS platforms.

Industry

One stop mobile app falls under the Information technology (IT) industry and the customer service industry. One Stop App is a one stop solution for customers to find service based businesses around them in a click of a button. Following are the findings regarding the information technology industry and its usage.

· Singapore’s Information technology sector was the best performing sector in July. For the first seven months, the IT sector’s indicative return came up to 47.7% (Gateway, 2018).

· Over the past seven months, the inflow of Information technology sector totalled +$65.2 million, which was the third highest sectoral net flow (Gateway, 2018).

· Singapore’s Expenditure on Information technology contributed to 7.08% ("Information and communication technology expenditure (% of GDP) in Singapore", 2018).

· Mobile applications are based on three main pillars; government support, infrastructure and business agility. Singapore is on the top of the leading app economies ("Singapore tops mobile app economy, but for how long?", 2018).

· Gadgets have become a key part of Singaporeans. They spend 12 hours 42 mins a day on their phones which includes their walking, travel time (YANGCHEN, 2018).

Considering these points, it seems that the idea of creating an app like one stop would help Singaporeans and bring convenience. Singapore has been massively adaptive to app based services, few of the biggest examples would be Uber, Grab, Food Panda etc. According to the findings, we find a paradigm that Singapore’s growing information technology market provides all the infrastructure needed for individuals to adapt to such technology. Hence, venturing into the current scenario of the Information technology industry seems favourable.

There is no direct competition to One Stop mobile application, this will be one of a kind app, however there are individual service business who are currently active on the internet who can create minor competencies but it can be easily handled by collaborations and commissions.

In order to understand the scenario about Singapore more in detail, PEST analysis will be used to understand the Political, economical, social, and technological aspects. The PEST analysis of the Singaporean market is as follows:

1) Political:

· Singapore has a stable operating government system.

· Singapore is a major global and logistics hub (Hays, 2018).

2) Economy:

· Singapore is the second freest economy ("Singapore Economy: Population, GDP, Inflation, Business, Trade, FDI, Corruption", 2018).

· Singapore has topped the World Bank’s Ease of Doing Business rankings since its inception ("Overseas Business Risk - Singapore", 2018).

· Low poverty rates.

3) Social:

· Singapore is highly adaptive to change with technology.

· Singaporeans like to plan things in advance.

· Singaporeans live a fast-paced lifestyle.

4) Technology:

· Singapore’s well equipped with infrastructure that can support all services.

· Heavy application, mobile and broadband users.

References:

Gateway, S. (2018). Information Technology Ranked as Singapore’s Strongest Sector in July | SGX My Gateway. Retrieved from https://sginvestors.io/sgx-mygateway/2017/08/information-technology-ranked-as-singapore-strongest-sector-in-july

nformation and communication technology expenditure (% of GDP) in Singapore. (2018). Retrieved from https://tradingeconomics.com/singapore/information-and-communication-technology-expenditure-percent-of-gdp-wb-data.html

Singapore tops mobile app economy, but for how long?. (2018). Retrieved from https://e27.co/singapore-tops-mobile-app-economy-long-20160226/

YANGCHEN, L. (2018). People in Singapore spend over 12 hours on gadgets daily: Survey. Retrieved from https://www.straitstimes.com/singapore/12hr-42min-connected-for-hours

Hays, J. (2018). TRADE AND FOREIGN INVESTMENT IN SINGAPORE | Facts and Details. Retrieved from http://factsanddetails.com/southeast-asia/Singapore/sub5_7c/entry-3791.html

Singapore Economy: Population, GDP, Inflation, Business, Trade, FDI, Corruption. (2018). Retrieved from https://www.heritage.org/index/country/singapore

Overseas Business Risk - Singapore. (2018). Retrieved from https://www.gov.uk/government/publications/overseas-business-risk-singapore/overseas-business-risk-singapore

Marketing Plan

Due to there is no comprehensive App for service delivery in Singapore, creating an all-around channel for people is considered as high potential. At the beginning, we only focus on Singapore market, but it is not easy as people imaging. Business developing is the two key issues for us. It is therefore we need to identify the main factors which are beneficial for our business. As such, since One·Stop App’s strategy is to retain more customers in early market entry, only promotion, service, price and people will be chosen.

Regard to promotion part, it contains two objectives, one is company and private service provider, another is customers. For the former, One·Stop App will offer free membership fee for 3 months once they have registered. The revenue-sharing deal will also be set as 10 percent for us and 90 percent for them at the beginning 3 months, while restore at the fourth month as 15 percent for us and 85 percent for service providers. There are also some promotions being provided to customers, One·Stop App will offer 20 percent discount for the first three try after they have registered as an user. In the early stage of the business, creating a brand awareness from the public is crucial. Simultaneously, social media like Facebook, Instagram and Twitter are the platforms will be used by us to engage and attract the potential customers, we will advertise the new and special service on the home page, changing once or twice a day. We will also have collaboration with well-know Youtubers in Singapore to further publicize our business to the netizens. Of course, newspaper advertising and TV commercial will be used as well.

One·Stop App is an online platform that connects customer with their chosen service provider, and to target wider range of customers, both affordable and premium services are provided. Our premium service embodies in the ‘customized questionnaire’, where right service provider will cater to the customer’s consumption needs. If provider does not reach punctually, we will reimburse the customer for time in waiting.

Pertaining the issue of price, as mentioned above One·Stop App will have affordable and premium services. One·Stop App offers affordable pricing to reach the average-priced market who charges the fee in the same level of calling private service provider. Meanwhile, The premium pricing will mirror the quality that will be delivered. More cost-effective, customer is considered as VIP once placing an order. The digital VIP card will record how much they spending on this App, price will be 10% lower for the next time as long as total expenditure beyond a certain level.

Moving on to the forth component of the marketing mix, which is people. The people involved are service provider, customer and internal worker. For each service provider, it is compulsory to sign a contract which includes relevant details such as security and professional. We also have superintendent to monitor platform online, making sure there are no bug and system issue.

Unique Value Proposition (UVP)

One·Stop App is an innovative App that is offered to customer in service industry. We strive to provide service to people of all ages, by offering the right service professionals for activities important to you. We help customers hire trusted professionals not only in housekeeping services which contains Electricians, Carpenters Cleaning and Pest keeping, but also the personal services like beauty, spa and mobile repair etc. Yoga, learning to play guitar and decorating home are also provided by the App. It can also be customized, people can choose the gender of the service provider, select the estimated budget and the time slot. This all-around App can save people’s time and definitely offer customers convenience in their busy life. One·Stop App therefore works like a combination of all types of service providing App.

The reason why we have advantage over competitors is that we provide all types of service in one App. Imaging a person who is busy with work and cannot taking care of himself, only to click on One·Stop App to place on order then everything will be done. Due to there are not comprehensive delivery Apps in Singapore, the potential of development is predicted to be vast. But one issue should be mentioned is about private service provider, who provides service by word of month and advertisement, they are the competitors in certain ways. Thus, we also offer them a channel to join us, creating a mutual beneficial win-win outcome.

The greatest benefit One·Stop App would like to achieve is convenience for customers. It allows customers to enjoy door to door service at the comfort in their preferred times. Customers get to decide what help they need, and gives the flexibility of selection and customization. Factors like professional and convenience are highly acquired by customers, and the appeal this service delivery holds for customers is the reliability and high efficiency of mind One·Stop App offers.

Market Attractiveness

Working long hours has become a fact of life in Singapore. People in Singapore are no longer surprised when they come out on top of surveys ranking countries by the number of hours worked. In addition, a recent investigation demonstrated that 1 in 5 Singaporeans work more than 11 hours a day and population is being most sleep-deprived in the world. Additionally, because of the lifestyle of the Singaporeans and high internet penetration rate in Singapore, majority of the Singaporeans choose online shopping to purchase items, order services for saving their time and money. Furthermore, With the high Internet penetration in Singapore, a consumer can easily make purchases or find information online via the PC or mobile devices. Therefore, our online platform provides very wide and comprehensive services to those who are busy for their lives and have no time to deal with their daily needs or issues that needs to be fixed immediately. In addition, our platform makes people lives more convenient by providing all the services that people can imagine, with extremely fast delivery service and allowing customers to find and hire service professionals for their personal activities/needs. Additionally, excepting online shopping, people in Singapore are also expecting any other services that they can order for their needed services or activities on online. However, there is extremely narrow service platforms which only provide services in very small range in Singapore. Therefore, our online platform provides various kinds of services in extremely large range and so we believe that our platform has high potential to grow in the future in Singapore. In order to ensure our growth and sustainability, our platform will ensure customer loyalty through continuously improving our platform and providing high quality of professional services to the customers and making customers lives easier with providing various high-quality service. Subsequently, as our company grows in profit, we will keep on expanding, which means that we will cooperate more with other companies and specialists to improve our App’s variety, specialty and technique skills to meet our customers’ needs and strive to exceed their expectations.

The Target Market

Our App is the platform where people can find and hire service professionals for their personal activities/needs. platform also allows customers to view and compare custom quotes, profile details, portfolios, background, and experience of professionals. Additionally, our platform strives to provide various services and deliver services to the houses, that people can order their service and enjoy it at their home. As a demand for services that can be order on online has been increasing and there are some platforms which provide some services in Singapore. However, our target market is what differentiates our platform with other online platforms. In addition, we realized that the Singapore is one of the busiest countries in the world where people work under intense environment. Because of the environment where Singaporeans are living, our business concept is to provide wide range of platform where people can find and hire service professionals for their personal activities/needs. This platform gives Singaporeans a new way to manage their stressful lifestyle and convenience to make their lives easier. Especially, we will focus on providing various services which can bring conveniences, cost and time saving and new and numerous options to our customers.

Target customers

As we have already talked above, another aspect that differentiate our platform with other existing service platform is that we have a considerable larger target market. As we know that majority people are busy with their daily work and in Singapore. Hence, we mainly provide our services to those who are busy with their lives and need cost, time saving and convenient services and especially, we provide services to the average income people and organizations. In addition, as we have identified the target market above, we can use the Segmentation, Targeting and Positioning (STP) Strategy to identify segmented portion of the target market. The steps in STP strategy will be on the followings:

STP Strategy	Steps
Segmentation	Step 1: Identify segmentation variables Step 2: Develop profiles of resulting segments
Targeting	Step 3: Develop criteria for target selection Step 4: Select the target segments
Positioning	Step 5: Develop positioning for each segment Step 6: Communicate positioning for each segment

Figure 1: Segmentation, Targeting, and Positioning (STP) Strategy.

The purpose of this part is to segment our market, target our best customers, and position our offering. We will be focusing on the segmentation part. The first step in segmentation is to identify segmentation variables which are classified to 4 variables such as geographic variables, demographic variables, psychographic variables, and behavioral variables.

First, because of the scale of the concentrated market in Singapore, we will not use geographic segmentation, as it is not applicable in small concentrated market. For demographical variables, we can choose the target market according to their age, income, occupation, and social class. About psychographic variables, we can consider personality and values. About behavioral variables, we can choose the target customers based on usage rate. The second step in Segmentation will be developing profiles of resulting segments and there are eight major clusters of Singaporeans identified based on the lifestyle such as Traditional family oriented, New age family oriented, Materialistic entrepreneurs, Modern pragmatists, Aspirers, Independents, Entrepreneurial strivers, and dreamers.

Type	Demographic Profile	Psychographic Profile	Behavioral Profile
The Independents	● Gender: Males/Females ● Age: All Ages ● Occupation: regular workers ● Income: average income ● Education: > Tertiary Marital Status: all	● Personality: Independent ● Values: time ● value practicality ● Lifestyle: internet savvy	● Usage Rate: Frequent User for online services, Any home delivery services likely to use mobile app
Entrepreneurial Strivers	● Gender: Males/Females ● Age: 20s and 40s ● Occupation: White-collar workers ● Marital Status: all	Personality: Ambitious Values: Social Status conscious and time Lifestyle: busy lifestyle	Usage Rate: Frequent User for Professional services, home delivery service, and personal services likely to use our App
Materialistic Entrepreneur	● Gender: Males/ Females ● ● Age: mid-20s-late 30s ● Occupation: starting career ● Marital Status: all	Personality: ambitious and materialistic Values: Value wealth, and time Lifestyle: busy with their work interested new technology, new ideas	● Usage Rate: Frequent- User of mobile applications, likely to use our App

According to the profile of our target segment, we are targeting between 20s to 50s group of people who have average or above income. We assume that nowadays everyone can easily access the internet and like to use internet to find information, order or buy their needs by internet. In addition, as we are targeting 3 types of people in Singapore, we assume that we have a high chance to attract and our App also has a high chance to be used by those types of people because, they all have busy lifestyle, value time, average income or above, and internet savvy.

Marketing plan and Strategy

As our App makes profit, we will extend the range of our business, which means that we will cooperate more with companies and specialists to make our platform more comprehensive and professional. We always strive to make our customers feel that they choose the right place to hire or find service professionals for their personal activities/needs. In addition, our platform also provides information in terms of quotes, delivering service time, location, types of options so on. The customers only need to do is select types of services, price, their location and just wait at their home for service coming. Hence, we make our customers’ lives easier, more convenient, and time and cost saving. Excepting our high-quality service, we also highly concentrate on the maintenance of good relationship with the customers and customer retention would be our priority to keep our business sustainable. In order to retain our existing customers, we will offer membership strategy to the customers that customers can get more benefits from our App. We will also set up loyalty program to increase our customers loyalty. For example, we will give customers discounts, gifts, and exclusive offers. In addition, we will always listen to customers feedback and take advice from them, in order to build strong relationship with them, win their trust and serve them with better quality service. Hence, we will provide hot line service which will be available for the customers to give feedback, advice, and inquires. Furthermore, we assure that we will provide service on time and reach the customers’ expectations, if our service did not serve the customers on time, we will be always ready to compensate to our customers.

Innovation Factor

Innovation basically means fresh thinking that creates value. Here at One Stop, we aim at delivering high performance which is guaranteed. We strongly believe that innovation is one of the most important factors when it comes to the success of our company. Innovation is a very vital part of any business because only introduction of new ideas and methods can improve and uplift the company’s standards and quality.

One of the key innovating factors of One Stop is that it is an app that is completely based on the customer’s disposal. Our personalization is what sets us out from the rest. Here, at One Stop, we have different departments set up for different services in order to provide you with the best and the most reliable services in town. Our various teams scout for the most reliable and affordable services available in Singapore. To add to this, we are the first company in Singapore to provide all your home services under one single small mobile application. You do not need to hunt and google through a hundred different links because all our sources are verified and a thorough evaluation of the company’s potential is conducted.

At One Stop, there is intensive research and development conducted to make our services much more easier and smooth for the users. And we also are striving to get better with each other day in terms of effectiveness and efficiency. The survey’s that are conducted and also the application rating by our users helps us in determining our operational progress. In addition, our application actually suggests users with the services based on their search history, so this gives a more personalized experience to the user.

In addition, we will have various services provided based on seasons and festivals happening in Singapore to keep up with the trend and also rejoice in celebration. In addition, we also post videos and tutorials on basic household hacks and other services, so that even when you don’t need us, you have to come to us. In addition, expansion to other countries like Indonesia and Malaysia is expected in the future.

Avoidance of Pitfall

As One Stop is a new concept in Singapore, it will obviously come with more risks and complications. But, these risks can be tackled by careful planning and execution. The first risk is of being an unknown business entity is such a vast and huge market. No matter how convenient your business, old habits tend to die hard. This means that the people who are already happy with their current services will not want to switch from the already established companies in Singapore. In order to tackle this issue, there needs to be extensive marketing of our application in the Singapore market. And also, whenever any Singaporean thinks of fixing their household appliances or even join a yoga class, One Stop should be the first thing that pops into their mind.

Since One Stop has such a broad variety of services offered, few of the employees may not be registered or licensed but have the skills and resources to do their job. And, in Singapore, licensing and registration is very important. We help these people to obtain their license and also help them with all the registration and paper work with different government organizations in order to provide users with the best possible services.

Technology has become a vital part in our lives, where it offers connectivity which can notify us on what is happening or trending in some quick seconds, Industry Asia (2016). Singaporeans are very particular when it comes to their household work and even otherwise, they are very accurate as to what they need and how they need it. We, at One Stop should adapt to these needs in order to do penetrate into the market. Collaborating with the big companies in Singapore will be a big advantage for us.

One Stop can actually maintain its position in the market, by going with the trend and can also carry out various promotional activities for various services and also conduct events depending on the big festivals. Since Singapore is so culturally oriented, we can make the best use of it, by handing out special festival offers etc. For Example, for Christmas, we can carry out a whole house decoration setup for a family. Layout, Design, Choice of props, all up to you. Just let us do the work. And we can also come out with interesting advertisements, hand out pamphlets at malls and shopping centers.

Graceful Exit

In case of leaving the market, we might display a significant case that occurred before in the start-up market; the case of Instagram. The success of the photo-based social media platform before the Facebook’s acquisition is undeniable. After its debut since 2010, Instagram has reached more than 700 million active users (Sparks, 2017). simply under the second most prevalent web-based social networking system on the planet, behind just its proprietor organization.

This move of Facebook may raise ordinary citizens' eyebrows, however from Facebook's point of view, it is coherent to do as such as they can be considered as one of the 'huge players' in the online networking market. It just bodes well for them to dispose of their potential rivals; and due to their wealth of capitals, it empowers them the capacity to buy their adversary firms, for example, Instagram and Snapchat.

In this way, making our application end up prominent is our most essential undertaking and in addition the best way to exit nimbly from the market. As we estimated that the market we are entering is potential, we are sure that One Stop will be effective. With their bigger pool of assets, they would have the capacity to get our organization by including One Stop as one of their backups, likewise for the reason of wiping out contenders.

Operational Overview

As stated earlier, One Stop is an application-based service which provides the user resources for almost anything. Be it from fixing your lights at home or if you want to sign up for a dance class, One Stop provides you with details regarding all these services. Since our business has such a vast area of operation with so many different departments, specialization is not really possible, but departmentation is essential. We have a team setup for each department with 10 people and 2 head managers, one enthusiastic youngster and one experienced senior. If you wish to make a booking with our app for any one of our services, you must make a booking at least 24 hours in advance so that we can search for the best results for you. Each service comes with a detailed page on what these services offer specifying our terms and conditions very clearly.

When it comes to payment, all major credit cards like Visa, Master Card and American Express are accepted and our users will be given a complete refund upon cancellation of any of any of our services.

If our users at One Stop wish to have a daily/weekly/monthly service scheduled, they can avail this facility as well for a fixed price.