Business Plan

COMMUNITY DEVELOPMENT

EXECUTIVE SUMMARY

The importance of learning emphasizes to enable the

individual to put his potentials to optimal use is self-

evident. Without education, the training of human minds is

incomplete. Education makes man a right thinker and a

correct decision-maker. Without education, man, as it

were, is shut up in a windowless room. With education, he

finds himself in a room with all its windows open to the

outside world.

However there are also some members who when given

an opportunity to learn and get educated fail to grab the

opportunity and the outcome is a red line on their score

sheet. Today estimate shows that more than 30,000

students fail to clear the High school, higher secondary

and even during Graduation. Estimate also shows that out

of these 30000 students more than 4000 candidates quit

their schooling or college once they fail and then they are

called as DROP OUTS. In fact, approximately 35 percent

of students who enter college will drop out during the first

year. There are lots of reasons why students fail.

Sometimes this is because a student is lacking motivation,

is lazy, unprepared, undisciplined, has a poor attitude, and

perhaps is not very intelligent.

So our business plan revolves around four such School and

college dropouts who are no longer part of any learning or

education programme. Once they left their studies it was

hard to face the world which also included their respective

DR D.Y.PATIL DEPARTMENT OF BUSINESS MANAGEMENT 1


families. Without any experience and knowledge they

started working for a data entry provider for just 3500 per

month without realizing their actual productivity after all

what matters is the money, as long as they were holding

some cash at the end of the month they were happy.

So our main objective is to help these dropouts to start

their own data entry business which can be characterized

by increase in profits and tapping new arenas for their

business. As such certain strategies should be

implemented to achieve these goals.

To start with a complete insight of how the data entry

business works and what are the parties involved and the

requirements to enter a data entry business and the most

important is the proper selection of the type of data entry

business which you want to take as the data entry world is

vast and scattered.

Certain important strategies follow the report which we

propose to implement so as to help the community to

make profits. These strategies include areas of investment

management, marketing, diversification, etc.

Though the business starts with a mere investment of Rs

12500 after couple of months when the business is

growing, marketing is really important so as to make

people aware of the data entry jobs available with us. This

step is more important especially when we go for

franchising.



And finally the financial performance of the business for 3

months is given by with the help of charts, graphs,

balance sheets, profit and loss account, etc

Customer pain point:

Data entry copy paste business is a monotonous job

as it involves just copy from one source and then

pasting it to an excel sheet

Scrutinizing for duplicate entries and empty columns

is the most tedious part.

It requires computers with high speed internet

connection.

Electricity consumption is more.

Data entry job has its disadvantages too. People normally

do not invest in a data entry project as they think this is

not a trustworthy business. There is a high amount of

attrition in the data entry business especially students do

these kind f jobs only during their summer or winter

vacations.



There can be discomfort for the payment from the

provider for the work done if the customer does not

maintain a good rapport with the provider.

Our Solution:

Sukhwinder Singh Dhami, Jitendra Singh Chibber, Siddhant

Kakkad will start their own data entry business by doing

the job on their own for the 1st month. From second month

they roll out the profit so generated and invest it more

plans which require employees. This process of rolling the

profits and then increasing the plans continues till they go

for franchising.

Marketing:

For the first month the data entry work was done from

home itself. By using the profits generated from the 1st

months income we invest in another plan and this is when

we require employees to work from their home and give at

least 400 entries every day. For this the marketing was

done only at the end of 1st month. Pamphlets with the

information about the data entry business were

distributed at many places to make people aware of the

data entry job including belapur, vashi plaza, chembur,



etc. as per our market research we discovered that there

are number of data entry providers offering a number of

projects so the level of competition was high. As such the

marketing plan was so framed that we only targeted those

people who are unaware of the data entry business

specially college students who want to work part time and

earn for meeting their personal expenses. Also educated

housewives having PC and internet connection were also

targeted as they have lot of spare time in the afternoon

which they can utilize for productive purpose.

Team:

The entrepreneurship team consists of Director, Manager

Operations and distribution, Manager Marketing, Manager

Finance, Advertising and Brand Manager.

Company, Production & Operation:

The business would start on a small scale initially. It would

be operational at CBD Belapur village, Navi Mumbai and

then would be gradually scaled up. The unit will generate

employment to needy and poor women from the same

village.

Financials:

The investment required is Rs. 12500 that is expected to

be recovered within 3 weeks from starting the business.

Risks:



The data entry providers are really not trustworthy. There

are many cases where the data entry provider ran with

the investor’s money which includes crores of rupees. So

there is always a risk of the provider cheating you. As such

the creditworthiness of the provider needs to be checked.

It is advisable to deal with a provider who provides some

kind of security. Future prospects of the business involve

product diversification which required a new type of data

entry project, more investment which is again a risky

affair.

THE COMPANY



Genesis : As MBA students we need to do a lot of

projects and assignments which includes a lot of data

about product, companies, for which we use internet,

books, etc. The idea of working on such product was

developed by the team during one such project when

we used the data provided in excel sheets and then

after few days when we actually met a college dropout

who was working for this data entry copy paste

business and just earning Rs 4000. Research was

carried out and after finding out the catch then and

there we decided that there are many like them who

are doing the same job and earning peanuts while there

actual productivity is 5 to 6 times more than what they

are earning. There after we surveyed the market and

found ample scope for data entry business.

Mission : Our mission is to become one of the leading

data entry providers by providing all types of data entry

projects, to become a one stop shop for all the data

entry needs of the clients and creating employment

opportunities especially in a country where educated

people commit suicide as no jobs are available.

Vision : An endeavor to improve the life of people who

have no job by providing them employment

opportunities and a source of steady income so that

they are self reliant and self sufficient and they are

successful in creating employment for others as well.



THE TEAM

Mrs Sandhya Shetty: She is pursuing her MBA in

FINANCE at Dr. D.Y.Patil University. She has done

M.com from Mumbai University.

Miss Debashree dutta: She is pursuing her MBA in

FINANCE at Dr. D.Y.Patil University. She is B.com

graduate from Mumbai University

Miss Supriya Khandade: She is pursuing her MBA in

FINANCE at Dr. D.Y.Patil University. She is a B.com

graduate from Swami Ramanand Tirth Marathwada

University.

Miss Mital Seth: She is pursuing her MBA in FINANCE

at Dr. D.Y.Patil University. She is B.com graduate

from M.J Kundaliya, Rajkot.

Mr Gurjeet Singh Bal: he is pursuing her MBA in

FINANCE at Dr. D.Y.Patil University. He is a B.com

graduate from S.I.E.S, Nerul.

Mr. Kailash Jadav: He is pursuing his MBA in FINANCE

at Dr. D.Y.Patil University. He is a B.com Graduate

from Pune University.



Mr. Shanshank Salaskar: He is pursuing his MBA in

FINANCE at Dr. D.Y.Patil University. He is graduated

in Banking and Insurance from KJ Somaiya,

Vidyavihar.

Mr. Prathvish Jathana: He is pursuing his MBA in


in Production Engineering from Father Agnel, Bandra.

Mr. Romeo Nandarajog: He is pursuing his MBA in


in Electronics and telecommunication from KJ

Somaiya, Sion.

Mr. Vivekanand Tripathi: He is a student of MBA

(FINANCE) at Dr. D.Y.Patil University. She has done

his Graduation in Banking & Insurance from V.E.S

College of Arts, Science & Commerce.

Mr Vijay Bansal: He is pursuing his MBA in FINANCE at

Dr. D.Y.Patil University. He has done M.com from

Mumbai University.

Mr. Avdhoot Tandel: He is pursuing his MBA in


in B.com from Modern College, Vashi.



Mr Deepak Shinde: He is pursuing his MBA in


in B.com from ICL College, Vashi.

WHY DATA ENTRY BUSINESS ?

Probably the first thing would be that it should make good

money because there is not much incentive to stay in a

business that is not making any money. Most of us do not

have the luxury, or desire, to continue in a business and

not get paid. A business built around data entry jobs is

definitely one that can make money.

Another thing that makes a really great business is that

you get to control your time. At first most people would be

working in their spare time after work to earn that extra

income. As success comes, and with it money, it is often

possible to quit your job and work full time on the data

entry business and with that comes a certain amount of

freedom. You no longer have to check in at work by a

certain hour, no more traveling in the cold (or heat) to get

to work, no more getting calls at the last minute that they

don't need you. You call the shots!



Online data entry jobs are growing in number. Providing

this service from home is convenient and earns an

attractive salary, allowing flexibility in your work schedule

while juggling family life. Thanks to the booming Internet

economy, more companies are transacting their

businesses online, which mean more data needs to be

entered into their systems. This makes data entry

operators a valuable asset. With a few helpful tips and

after completing a few specific tasks, you will be well on

your way to starting an online data entry business from

home.

THE COMMUNITY :

The main motive of this report was to help any community

to improve the performance of the business characterized

by increasing sales, rising profits, lowering the cost, better

quality products, etc. the community which we have

selected is not a company or an institution or a small firm

for that matter. Our community consists of 4 college

dropouts who left their studies and who are no longer part

of any learning or education programme.

These dropouts after leaving their college started working

for a person in their local area for Rs 4000 per month.



Their job profile was to copy paste at least 500 data

entries per day. Initial days were tiresome and took more

than 7 hours to pass the required amount of entries but as

time passed they got a hang of the copy paste business

and worked with more enthusiasm. Things were going fine

afterall Rs 4000 per month for a college dropout is a fair

deal. The only sad part was that they didn’t do any kind of

research of the job which they are doing. They were just

completing their daily targets unaware of their actual

productivity.

This is when we came to know about these chaps. Before

we could actually help them it was necessary for us to

have a thorough knowledge of the data entry business and

specially the copy paste which they specialized in. as such

extensive market research was carried out which included

meeting the various data entry providers, checking out

the different types of data entry projects they offered,

rates of the plans, the projected returns, checking the

creditworthiness of the data entry providers, etc.

After the market research we framed out strategies and

prepared the business plan for them.



SUKHWINDER SINGH DHAMI ANAND GACHANDE

(T.Y BANKING AND INSURANCE DROPOUT (T.Y B.COM

DROPOUT

V.E.S COLLEGE CHEMBUR) V.E.S COLLEGE,

CHEMBUR)



JITENDRA SINGH CHIBBER SIDDHANT KAKKAD

(F.Y.J.C DROPOUT (F.Y B.COM

DROPOUT

KHALSA COLLEGE, MATUNGA) ACHARYA COLLEGE,

CHEMBUR)



WHAT IS DATA ENTRY COPY PASTE ALL

ABOUT?

People often need to find some information on the

internet. Sometimes, people need to collect this

information in a file and that may require hours of

searching. So people just hire service providers, at

freelance site, who can do this work for them. Example of

a data collecting or copy paste job:

A buyer may need to collect information about beauty

parlors in India. This information may include: Website

URL, Phone Number, Email Address etc. The buyer can

need this information if he/she is building a web directory

of Beauty Parlors in India. You will have to copy paste

content from the internet for which the links of the URL

are provided by the provider into any readable file.

With increase in the number of businesses and a

corresponding increase in the number of employees and

prospective candidates, any kind of data that has to be

copy pasted from one application to another has also

become voluminous. So huge companies usually

outsource the mundane job of data entry to a professional

company so that you can apply your mind to more

important aspects of your business.

Data entry copy paste include moving data from one

Microsoft Word window to another, copying data from a

website and pasting it into a Word document, copying and DR D.Y.PATIL DEPARTMENT OF BUSINESS MANAGEMENT 15


pasting data from MS Excel to MS Word and vice versa.

Students and researchers who want to compile website

material for reference purposes can also make use of copy

paste services. Editors intending to bring E-book editions

are sure to gain by the copy paste service.

Data Entry Copy paste job requires at computers,

software, printers and scanners along with high speed

Internet connectivity.

AN INSIGHT OF THE DATA ENTRY COPY PASTE

WORLD:


PHARMA COMPANIES

MARKET RESEARCHERS

MANUFACTURING COMPANIES

SURVEY COMPANIE

S

NUKRI.COM QUEST NETBANGALORE

(DATA ENTRY COMPANY)

QUEST NETBANGALORE

(DATA ENTRY COMPANY)

FRANCHISEE 1 (NAVI MUMBAI)

FRANCHISEE 2 (ANDHERI)

FRANCHISEE 3 (KALYAN)

FRANCHISEE 4 (PANVEL)

AREA OF BUSINESS-MUMBAI

AREA OF BUSINESS-MUMBAI

AREA OF BUSINESS

- CHENNAI

AREA OF BUSINESS

- CHENNAI


The data entry business revolves on the need of some

companies to find some information on the internet.

Sometimes, people need to collect this information in a file

and that may require hours of searching. So people just

hire service providers. In the data entry world this work of

providing the required data to is done by data entry

companies. These companies can be BPO, KPO, etc.

Now in the above chart Quest Net is a data entry service

provider. Every company spends a lot amount of time and

money on their research and development department

and also for market research which involves a lot amount

of data relation to products, customers, competitors,

suppliers, etc.

For example a company manufacturing generators may

require data of the local companies who provide the tools

and equipments for making generators. Similarly

pharmaceuticals companies may require data on the

medical stores or the competitors’ data, etc. India’s

number 1 employment generator NAUKRI.COM may

require data on the certain businesses as it not only

provides employment but also provides businesses. Many

students, market researchers may require data for their


OUR COMMUNIT

Y


reference purpose. All such needs of data are fulfilled by

the data entry provider i.e. Quest Net.

Now this company operates in Bangalore and expanded its

business in Mumbai and Chennai. The company has its

franchisers in both the cities. These franchisers sell plans

to various individuals who want to work for a data entry

project. There are number of plans available with each

franchiser. Similarly these franchisers offer different type

of data entry project like copy paste, web hosting, Ad

posting, typing, Editing, etc. The copy paste plans ranges

from Rs 1,500, 2,500, 3,500, 4,500, 6,500, 8,500, 12,500,

etc. people normally go for the plans of 8500 and 12500.

Suppose we take a plan of 12500 then we have to give

12500 entries to franchiser from where we have taken the

plan. The data so forwarded to the franchiser is in turn

forwarded to the main company Quest Net situated in

Bangalore. Then the company gives this data to the

various clients like naukri.com or other companies as per

their needs.

STEPS TAKEN:

Preparing a business plan for the dropout community was

really challenging as these young dropouts had no

technical expertise. The only positive aspect was that they

were working for the same type of business (copy paste)

for the last 4 months. So they had thorough knowledge of



the product i.e. data entry copy paste business. With their

experience of the work and with our market research we

framed some strategies for our community.

PHASE 1:

Quitting the existing job and starting their own

business:

These four college dropouts after quitting studies had

nothing to do and someone told them about this data

entry job which required basic computer knowledge.

Instead of doing nothing and jus wasting time they took a

rational decision of doing this data entry job. Their daily

job was to pass atleast 500 entries which comes to more

than 12000 entries per month. Their monthly salary was

just Rs 4000.

When we did the market research and checked about the

plans, their rates, the profit we were shocked. The person

for which they were working was getting more than Rs

22000 per person and was paying them only Rs 4000. This

triggered the situation and as such we advised our

community to leave the existing job and start their own

data entry business with a mere investment of Rs 12500.

Thus on 4tth August 2010 they left their job and

SUKHWINDER SINGH DHAMI invested in a plan of Rs12500

with VIKRAM SHAH a data entry provider in Navi Mumbai

with contribution from 4 of them. The task of passing the

entries was done wholly by SUKHWINDER SINGH DHAMI



and other 3 people in the community took care of

coordinating with the provider, collecting the payment,

sending the entries to the provider in the prescribed time

limit.

He worked on the plan for 1st month alone and earned

24000. Then after 1st month other 3 members in the

community invested in 2 more plans. As such it was

necessary to search for the employees for which it was

necessary to market and promote the work we were

doing.

Marketing: some members in our group took the task of

hiring people for which we made pamphlets and

distributed it on the railway stations, friends, relatives,

housewives so that we can bring 3 people for this job.

Extensive marketing was done for this purpose. After 3

more people were hired for doing the copy paste work

training was given to them in the first day to understand

the nature of the work. Their salary was decided. Initial 3

days they were not able to complete the target of 500

entries per day, but once they got the hang of it they

compensated well. And by the end of 2nd month profit

increased by Rs 11000 to Rs 29500.

Our main task was to provide these college dropout with a

possible business opportunity characerised by increase in

profits. At the end of the 2 moths of our work for this



community we can say that we were successful in

increasing the profits of the business.

OPERATIONAL PLAN

The following section will identify the proposed operational

plan for Data Entry Business. Included are the general

operating procedures, human resources, and working

capital requirements of the business. Also included are the

space requirements, asset acquisition and an outline of

operational cycle.

ASSUMPTIONS

It is assumed that data is forwarded to the provider

every week

500 entries per day are performed.

The total time required for passing these entries is 6

hours

Production unit is the residence of the individuals

working on their own computers with internet

connectionDR D.Y.PATIL DEPARTMENT OF BUSINESS MANAGEMENT 21


Area:

Area of work is the residence of the individuals involved in

the community as all the work is on the personal

computers having internet connection.

Machinery/ Equipments:

Computer with at least 1 gb ram, 40 gb hard disk,

power switched-mode power supply (SMPS), 1.6 gh

micro processor

High speed internet connection with atleast 512 kbps

download speed with unlimited download

Manpower required

1st month: no man power is required as the daily target of

500 entries can be performed by 1 person which is done

by SUKHWINDER SINGH DHAMI for the 1st month.

2nd month: As more plans are purchased in the 2nd month

by rolling out the profit of the 1st month and contribution

by other 3 members of the community the daily target of

1500 entries (1 plan of 1st month and 2 more plans for 2nd

month) we need 3 employees to accomplish the task.



2ND Visit Sukhwinder Singh’s House, Chembur:

Initial target of 300 entries in 1 week successfully completed

STEPS IN OPERATIONAL PLAN:

ACTUAL WORK DONE:



After taking a plan from a franchiser the customer’s id is

registered with franchiser for 3 years. Payment for the id

can be made in cash or by cheque. By making the

payment in cash the id gets activated in 3 hours. Copy

paste business is a systematic process it involves a

number of steps.

STEP 1:

Once the id is registered and activated the data entry

provider mails certain links on the customers registered

email id.

Step 2:

http://www.trademart.in/category-exporters-Toys.htmlhttp://www.trademart.in/category-exporters-


http://www.trademart.in/category-exporters-Sports_and_Entertainment.html

http://www.trademart.in/category-exporters-Toys.html


The customer clicks on the links and it leads to a page

where bifurcation of various types of companies is given.

For example in the above case agriculture, apparel &

fashion, ayurvedic herbal products, etc are given.

Once we click on any of the above classification again a

web page opens. For example if we click on agriculture we

again get a bifurcation of all the agri products as it can be

seen in the above picture.



By following any of the links we get the list of the

company’s specializing in that particular area. For

example if we click on the agri product stocks all the

companies dealing with the same product will appear on

the screen. To get the information about that particular

company we need to click on the company’s name.



Once the company’s home page is opened necessary data

like name of the company, address of the company, city,

state, phone number, mobile number, contact person, web

site, business details etc needs to be copied from the

company’s home page and pasted in the empty excel

sheet provided to us by the provider.



It has to be kept in mind that atleast 8 columns have to be

filled for a complete entry.

Also it has to be kept in mind no duplicate entry should be

passed and also no columns should be left empty because

price per entry gets reduced if there are duplicate entries

or any empty columns.



MARKETING PLAN

MARKET ANALYSIS

India is one the largest country offering data entry

services acroos the world. With increase in the number of

businesses and a corresponding increase in the number of

employees and prospective candidates, any kind of data

that has to be copy pasted from one application to

another has also become voluminous. So huge companies

usually outsource the mundane job of data entry to a

professional company so that you can apply your mind to

more important aspects of your business. For doing the

copy paste business special skills are not required, just

basic knowledge of computer is enough. Just basic

knowledge of Ms Word and Ms Office is sufficient. The

main target of data entry business is to tap the provider

who offers best rate for the entries. Competition is really

high so accuracy of the data is the main theme.



Individuals passing fake entries do not exist for long in the

market.

MARKET RESEARCH

Market research is the process of collecting and analyzing

information about the customers you want to reach, called

your target market. Market research methods fall into two

basic categories: primary and secondary.

Secondary data is collected from Internet. Primary Data

was collected by visiting the different data entry providers

situated in many areas of Mumbai. Getting thorough

knowledge of the data entry world and specially the copy

paste work was the first priority. Next step in the market

research was to check the creditworthiness of the

providers whom we are meeting. For this the history of the

providers in the data entry business played the

detrimental role. Not all the providers were offering all

type of data entry projects.

For ex some were offering Ad posting, typing, editing, etc.

copy paste work was mostly available with all the

providers. Once a list of providers which is to be selected

was made next task was to find the best plan with the

best rates and returns. The plans for copy paste work

differed from provider to provider and so the rates and the

projected profit. So after our market research we

discovered that VIKRAM SHAH (data entry provider) in

Vashi plaza, Navi Mumbai offered the best plans with the

best rates. So based on our market research we

purchased plan from MR VIKRAM SHAH. DR D.Y.PATIL DEPARTMENT OF BUSINESS MANAGEMENT 30


TARGET CUSTOMERS

Till we perform the data entry copy paste business

personally or by employees our target customers would be

the data entry provider from whom we have taken the

plan and as such it’s our duty to fulfill his data entry

requirements every month.

After certain period of time when we go for franchising our

target customers would be the individuals who want to do

a data entry project. Our task would be to sell plans on

behalf of the company to these individuals.

MARKETING STRATEGY (implemented after 1st

month)

Product - The features of the product

For 2 nd month:



Our data entry product i.e. the copy paste work is

really simple which just needs basic computer

knowledge.

Data entry copy paste include moving data from one

Microsoft Word window to another, copying data from

a website and pasting it into a Word document,

copying and pasting data from MS Excel to MS Word

and vice versa.

When we go for franchising:

We offer different data entry plans for copy paste

business.

The target increases with the cost of the plan and so

does the returns.

Copy paste is the simplest form of work and jus need

which any person having basic computer knowledge

can perform.

Also spot commission is paid for references.

Place –

For 1 st and 2 nd month :

This product is basically forwarded to the data entry

provider from whom we have taken the plan who in

turn forwards the same data to the main company

which is then provided to various companies as per

their needs.



]

When we are going for franchising:

This product introduced initially only few places of

Mumbai like Chembur and major areas of Navi

Mumbai like Belapur, Panvel, Vashi, Nerul where

marketing is to be done to attract more people for

buying data entry plans.

Pricing strategy -

In the market research study, our data entry provider is

offering us the best rates for each entry. Following is the

return for each entry for the plan of Rs 12500.

For entire 8 columns: Rs 2.00

For 6-7 columns: Rs 1.30

For 5 columns: Rs 1.00

EXAMPLE OF 8 COLUMNS:



Promotional strategy –we are targeting individuals

who can perform the data entry work from their home

having a computer and internet connection. We

promoted our product outside Belapur station, chembur

camp, colleges, residential areas, etc. promoting

through-

Word of mouth publicity

Distributing pamphlets



BRAND

A brand is the identity of a specific product, service, or

business]. A brand can take many forms, including a

name, sign, symbol, color combination or slogan. The word

brand began simply as a way to tell one person's cattle

from another by means of a hot iron stamp. A legally

protected brand name is called a trademark. The word

brand has continued to evolve to encompass identity - it

affects the personality of a product, company or service.

Why we need branding?

Branding makes you, you. It separates you from the crowd

and makes you stand out. It defines the uniqueness of

your services and products. It informs people who you are,

quickly. It is how you are perceived by others. For these

reasons you need to protect your identity and work to

make it strong. To protect your identity you need to make

sure you are consistent in what you produce, in how you

use the logo and how you talk about the company as

whole. To make it strong you need to make sure you have

a unified look and feel, and are sending out a unified

message, whether it is in an email, a memo, a phone call

etc.

For these reasons you need to protect your identity and

work to make it strong. To protect your identity you need

to make sure you are consistent in what you produce, in



how you use the logo and how you talk about the

company as a whole. To make it strong you need to make

sure you have a unified look and feel, and are sending out

a unified message, whether it is in an email, a memo, a

phone call, a client visit or an event.

What is our branding strategy?

Pamphlet: To give the ideas, to develop intellectually.

Print media: Awareness and research.

Word of mouth: It is important to improve the web and

to promote our business successfully. This information can

be shared from one person to another person.

Future plan for branding?

Web : Web is important for branding redesign

process can be found in few minutes web branding

will create a strong brand for your company by using

good, service and product.

Local newspaper: The proposals for the local area

network transform the environment this plan to

improve houses and region and start visiting T.V or

road about newspaper.



Electronic media: It is important for developing the

process of implementation of media channel for ex:

print, advertising and internet.

COMPETITIVE STRATEGY

Cost Cutting: Our strategy to reduce cost so when

we are employing people in 2nd month we do not

open an office instead we give the liberty to the

employees to work from their home and mail the

data in the prescribed time limit.

Employing the latest technology - For meeting

weekly targerts of 3000 entries Ms excel 2007 was

used instead of Ms excel 2003 as it reduces time and

effort required to accomplish the required targets.

Competitive Analysis

Competitive Analysis can only be done when we do a

market survey/research (provider was interviewed from



where we and 5 other competitors are doing the same

business)

PARAMETERS OUR COMMUNITY

5 COMPETITORS

Meeting targets 100% 85%

Duplicate entries 5% 10%

Empty columns 2% 10%

Wrong entries 0% 5%

Salaries to employees per entry

0.50 0.35

FUTURE PROSPECTS:

Diversification: the data entry business is really

scattered and there are ample opportunities to diversify

your business. Once sufficient amount of profits is

generated and the business is well established in one type

of data entry business, we can diversify the business.

Some of the main types of data entry world are,

COPY PATE

TYPING

EDITING

AD POSTING

WEB DESIGNING



FORM FILLING

If the business has made a strong hold in any of the

above type it can diversify to another type

For ex- TYPING-TO-COPY PASTE or VISE VERSA

Franchising: There are two types of franchising contracts

available with the company.

With these important points in mind, it is easy to see why

so many people turn to a data entry jobs to earn extra

income and to make money online. With the computer age

there is so much opportunity for data entry jobs. The cost

of getting into this business is very small, and you can

really tailor it to fit your life, after all, you want to improve

your life not work it away!

FINANCIAL PLAN

Target per week:-

For the first mo nth the target was to forward 3000

entries every week which comes to 12000 a month.

CHART SHOWING WEEKLY TARGETS



Investment deal:-

Fixed investment 12500

Research and development 500

Market entry and brand

building

200

Total 13200

FINANCIAL PERFORMANCE MEASURE:-

Data entry business is a market to earn fast money.

Within the first 3 weeks of starting the business we

recovered the initial investment made.

CHART SHOWING NET PROFIT DETAILS



For 1st month August 2010– only 1 plan of Rs 12500

Entries passed: 12000 @ Rs 2.00 per entry

Total income: 24000

Less: initial investment (12500)

Less: Internet connection (500)

Net profit for August 11000

For 2 nd month September 2010: 1 + 2 more plan included= 3 plans

3 people are employed at the salary of Rs 6000 per employee per month

Plan 1


Total income: 24000

Less: salary paid (6000)DR D.Y.PATIL DEPARTMENT OF BUSINESS MANAGEMENT 41


Net profit from plan 1 18000

Plan 2(new plan) for Rs 12500


Total income: 24000

Less: Initial investment (12500)

Less: salary paid (6000)




Total income: 24000




Net profit for September 2010:

Net profit of plan 1 + Net profit of plan 2 + Net profit of plan 3

18000 + 5500 + 5500= 29000

Projected profits for 3 nd month October 2010: 3 + 1 more plan included= 4

plans

1 more person is employed at the salary of Rs 6000 per month = total 4

employees

Plan 1




Total income: 24000



Plan 2


Total income: 24000



Plan 3


Total income: 24000






Total income: 24000




Projected Net profit for October 2010:

Net profit of plan 1 + Net profit of plan 2 + Net profit of plan 3 + Net

profit of plan 4

18000 + 18000 + 18000 + 5500 = 59500

Projected profits for 4 th month November 2010: 4 plans( no plans to be

included in November)

Plan 1


Total income: 24000





Plan 2


Total income: 24000



Plan 3


Total income: 24000




Plan 4


Total income: 24000




Projected Net profit for November 2010:


profit of plan 4

18000 + 18000 + 18000 + 18000 = 72000

Projected profits for 5 th month December 2010: 4 plans ( no plans to be

included in December)

Plan 1


Total income: 24000





Plan 2


Total income: 24000



Plan 3


Total income: 24000




Plan 4


Total income: 24000




Projected Net profit for December 2010:


profit of plan 4

18000 + 18000 + 18000 + 18000 = 72000

Break Even Analysis:-



Breakeven point in this business is achieved at the end of

the 3rd week, since the investment made is Rs. 12500 and

the total income earned after 3rd week is Rs. 18000.

Financial projections for next 5 years of the business:-

These projections are based on following assumptions:-

1. Rates of electricity charges, internet connection expenses are assumed to

remain constant over next 5 years so charges will remain same.

2. The profit earned is transferred to bank after keeping some amount for

contingencies.


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