Recently I have send my Business idea to the ET, power of ideas campaign. Because they want entrepreneurs because they want to create more jobs in the Economy.
You can also send your Business ideas via e-mail to them on email@example.com
I am not saying that, you must have to pass through this competition but I am just saying that, show your interest in them. I have shown my interest to be an Entrepreneur and create Jobs in the Economy and That’s it. My job is over. Even if I don’t get a chance to go ahead or I don’t find any venture Fund, I will continue with this Internet Business (This Blog) forever.
But i am happy today that, Country needs me for creating Jobs & I have send my Business Plan to them. I don’t expect anything more.
Here is my Business idea summary according to their Format. I also suggest you to send your own Business idea in the following format. The aim here is not to get Venture Fund. But the aim here is to show the country that, you are ready to create jobs (By doing a Business) in the Economy and That’s it…. Your Job is over. Even if you don’t get Venture Funding to start your Business, you are Success in the History…!!!!! Because You were there to create Jobs in the Economy by becoming an Entrepreneur when country needed you………..!!!!!!!!!!!
I. Details Required for Public Consumption -
01) Name: Dr.(Mr.) Asav Mansukh Patel
Date of Birth: – 07th January 1983, City: Ahmedabad, State: Gujarat
02) Which Industry does your idea Cater to? – Online Publishing Industry, Education Industry, Blog Network, Internet Business
03) What impact do you believe your idea will have on your defined Market?
Well, My idea will provide the “Right Information (Knowledge) at Right Time” to my defined Market. And thus it will smoothen the life of my defined Market. Right Information of anything at Right Time can help people make Informed Decisions in anything (Anything means Anything) and thus they will be able to take Informed Decisions with this Information. My Defined Market is right now starving for the Right Information at Right Time.
II. Details Required for Jury –
01) Personal Details:
Complete Address – 04, Shivam Park, Near Prakash High School, Sandesh Press Road, Bodakdev, Ahmedabad – 380015, Gujarat, India
Mobile:- + 91-98230 51 005; +91- 98980 55 007
Landline: – 079-26850695; 079-22125501
02) Education: – MBBS; Post Graduate Course running at D.Y.Patil University, Kolhapur, Maharashtra
03) Experience: -
Right Now I am a Medical Student but I have promoted a Company “Patel Education Private Limited” in year 2007 when I was only 24 years old. And I am right now the Chairman & MD of my own Company. And I am owning a Blog “My Journey To Billionaire Club” (http://myjourneytobillionaireclub.blogspot.com/) as an Asset of the Company.
“My Journey To Billionaire Club” Blog is an Online Personal Finance Magazine & I am running this Magazine since March 2008. I am the Editor of this Blog. And Thus I have around 1 and half years of Experience of Chairman of my own Company.
04) What Industry will your idea operate in?
Well, My idea will operate in “Online Publishing Industry”. The main spiritual Mission of my idea is to provide people Information about Personal Finance, Health, Cricket, Electronics, Fashion, Relationships, Bollywood, Automobiles (Cars & Bikes) and many more……..
Basically according to my idea, I want to develop a Blog Network. And as a first step, I have launched a Personal Finance Blog “My Journey To Billionaire Club” since March 2008. The idea is to develop a Blog Network which will have Blogs on Cricket, Bollywood, Cricket, Health, Consumer Electronics (Mobiles, DVD Players), Automobile, Relationships, Games (World of warcrafts & Counter Strike)…. and many more……
All the Blogs of my Blog Network will provide people the detailed & precise Information about anything. Say for Example, if you want to know anything about Personal Finance, Mutual Funds, Debt Products, Debt Counseling, Loans, Car Loans, Investment Principles or any other type of Debt Product than simply go to the Blog MJ2BC (My Journey To Billionaire Club) and you will get all type of Information related to Personal Finance, Financial Products & Investments on that Blog only.
So ultimately the Whole Blog Network will provide every kind of Information (Cricket, Bollywood, Health, Automobiles, Mobiles, Relationships, Consumer Electronics, Financial Products and many more….) in precise and easy to understand language.
05) What is the Value Proposition of your idea?
Well, world is changing at so much faster rate after 1990 that, more and more products in any industry are dumping into the market. And people can’t track the record of all such kind of products. Say for Example, Financial Products, Mobiles, Consumer Electronics, Automobiles (Cars & Bikes), Health & Health related products & services….etc….
Every day more and more Products are being added into the market. And the main object of this idea is to provide all such kind of Information to People (Consumers) via the Blog Network. Suppose Arbitrage Mutual Funds come into the market than our Blog network will provide all types of Information about Arbitrage Funds to the customers. Means What it means by Arbitrage Funds?, How to buy it? Which Arbitrage Funds are available in the market?, advantages & limitations of arbitrage funds, how much portfolio allocation should arbitrage funds given…etc….
So people will get all type of Information at one place only.
Take the other Example. Consumer Electronics. Suppose a new Mobile, DVD Player, MP3 Player, Laptop, Desktop or any electronic gadget comes into the market than people will be able to get all kind of information about that electronic item from our Blog Network.
Same is true with anything. Via our Blog Network we will cover almost every thing in the Economy. And thus people of India won’t have to search Google anymore. Because every kind of Information will be provided and published on our Blog Network time to time.
The main edge of this idea is that, right now there is no such type of Blog network focused mainly on the people of India is there. If we talk about the Blogsphere than there are 120+ Millions Blogs in the Blogsphere but none of them is an Indian Personal Finance Blog Except MJ2BC Blog. (You can verify it.)
If people will know that, every type of Information is available on our Blog Network than it will help them to take informed decisions. Weather it is about investing in Mutual funds, taking a home loan or buying a Car, Mobile, or any other consumer goods or services in the economy.
Same is true with Health & Health related Products. There are lots of basic things that people don’t know. They know little to nothing about their Doctors, Health, Health products & health services…. Via our Blog Network we will provide them all such type of Information in Simple, easy to understand & precise language.
Say for Example, When to Consult a Cardiologist? People across the India don’t know such a basic thing. You are a Venture Capitalist but it is quiet possible that you also don’t know this simple and basic thing. It is not that, you have to consult a Cardiologist only when Sudden Chest Pain arises. There are so many other basic and simple signs and symptoms by which you can decide by yourself that when to consult the cardiologist. But if you have had an Information about “When to consult Cardiologist” than you can save at least your life if not others.
In short our Blog Network will provide each and every type of Information, Reviews & News about all the products & Services available in the Economy. And we can do this via Blog Network only. Because right now the world is changing at so much faster rate that only Blog can keep pace with our fast changing world.
06) What is your Sales Strategy? And What is your Technical/Product/Delivery Model?
The Business Mission of this idea is to Sell Online Adspace of the Blog Network Blogs to potential Advertisers via Directly or Third party (Google AdSense) and to generate Revenue for it. Internet Advertising Industry is a US $ 60 Billion Industry and growing worldwide. Advertisers want a web space to advertise their products and the Business Mission of the Business is to provide such type of web space (On Blog Network).
We will generate Revenue from our Blog Network by selling an Online web space to Potential Advertisers mainly via Google AdSense (The Online Advertising Giant having a yearly revenue of US $ 20 Billions in Fiscal 2008) and Directly.
The more Information Portfolio we will develop, the more ad space will be created on our Blog Network and thus More web space we can give to the potential advertisers and thus More Revenue.
In other words, the more we will grow our Blog Network, the more web space will be created and thus more advertises we can show and attract more web traffic on it and thus more Revenue.
Our Revenue is in Directly proportion to the Web traffic (Unique Visitors & Page Views). Our Blog Network is an Web Property so more traffic it will attract, more adds will be shown to the readers and thus more clicks and thus more revenue. Internet Advertising Revenues will touch to US $ 60 Billion & more by year 2010 and it is growing at much faster rate.
I am not exaggerating but according to my analysis, The web traffic & Revenue can grow at the rate of 25% per Month and that is 300% Per Annum if the content & marketing of the Blog Network is excellent.
Examples of Internet Businesses which are selling online ad spaces to the potential advertisers are Investopedia.com, Digg.com, Facebook.com, Wikihow.com, NYTimes.com, Orkut.com, About.com & many many more….!!!
07) What is the Competition for your idea?
If we talk about India than right now in India there is no competition because right now in India there is no as such Blog network is operating. In fact the Blog, MJ2BC is India’s First Personal Finance Blog.
But if we talk about World Wide Web (WWW) than right now there are 120+ Million Blogs in the Blogsphere and added more and more every day. And out of them there are literally hundreds of thousands of Personal Finance, Cricket, Celebrities, Health & Automobile Blogs.
But at present there is no other Blog Network on the World Wide Web (WWW) like this except Weblogsinc.com
08) Do you have a Team in mind?
Yes, of course. This is not just a Business idea but i have started this Business since last one and a half year.
Right now I have a Team of Excellent writers across the country. And I am developing contacts with more and more writers from the various fields regularly so that in future I can higher them for my Blog Network.
I only need a perfect Technology team for Internet marketing of the blog network, blog designs…etc….
09) What are the risks you foresee in your Business?
- Not having an enough web traffic is the main risk of this Business. If by somehow we don’t be able to get the enough web traffic or we can’t grow the web traffic to the certain level than our Blog Network won’t generate enough Revenues for its Investors.
- One factor responsible for not getting enough traffic is low penetration of Internet in India. Right now in India, the Internet Penetration is just 2% as comparison to other developed countries (Above 60%). However, by year 2011, There will be 100 Million (10 Crores) more Internet Penetrations in India.
10) What are the Financials (In Indian Rupees) for your Business?
Well, the main Asset of the Business is its “Information Portfolio”. And as a start-up, i need to launch a Blog Network having 20 Blogs.
And each Blog will launched by publishing 3000 Articles first. So 20 Blogs Network will combinely publish 60,000 Articles. And the market rate of one article is Rs.500 per article. This is the charge that we have to pay to the writers.
So Initially to develop an Information portfolio, the Company needs Rs.3,00,00,000 (3 Crores). And Rs.50 Lakhs more for buying a Server, Internet Marketing of the Blog network, Blog designing & paying to IT staff.
So Total Start-up Cost is Rs.3.50 Crores.
After that, once the Blog network will be stabilized and grow the sufficient web traffic, it will start generating revenues for it. and thus more Information can be added by highering writers and paying them from the Blog Revenue from Ad space Selling……..!!!!!!!
I hereby understood the terms & conditions of the power of ideas and i resolve to abide by them.
Place: Ahmedabad; Date: 26th January 2009; Signature:___________________ (E-Document hence does not require Signature).
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