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DOODLEBOARD LAUNCH PLAN December 11

th, 2013

Written by:

Akhil Agarwal

Akil Akbar

Shan Bhagat

Sofia Castro

Patrick Cheever

Molly Danzig

Justin Dill

Shun Ping Huang

Gene Lane

Fred Maley

Jack McCarthy

Noelle Pawlicki

Paula Prada

Andy Pryles

Aditya Sastry

Sam Sherman

Aniket Shroff

Tiffany Tapia

Charlotte Widjaja

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TABLES OF CONTENT

I. Executive Summary – p. 3

II. Company Overview – p. 5

III. Marketing – p. 7

IV. Operations – p. 10

V. Startup Phase – p. 13

VI. Information Technology – p. 14

VII. Social Responsibility – p. 16

VIII. Human Resources, Communication, and Talent – p. 17

IX. Financials – p. 20

X. Risk – p. 26

XI. Entrepreneurial Thought and Action – p. 27

XII. Appendix – p. 28

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EXECUTIVE SUMMARY

The DoodleBoard facilitates creativity, collaboration, and imagination on the go. Following this

vision, the business will work to bring the usefulness, simplicity, and versatility of a whiteboard

out of the classroom and office. The business provides a high-quality, durable, and expandable

whiteboard for use anywhere imaginable.

The Doodleboard is new. It’s never been seen before on the market. The business will tackle

challenges of manufacturing the product and educating the general public of the need for such a

product. Team members will work to appeal to a diverse target market while addressing

customer needs. The primary market will be the Babson community, but our online presence will

stretch beyond the campus to other schools and consumers.

Operations All team members will help manufacture the DoodleBoard product from a blank gameboard and

whiteboard sticker. The manufacturing process will follow a detailed guide to ensure product

quality and safety. The final product will include a whiteboard marker and a sticker that will be

cut to perfectly fit the edges of the board

The first order will consist of 150 DoodleBoards and will occur during winter break. The second

order will be based off of sales and demand. The business anticipates an additional order of 150

DoodleBoards at the start of Week 4 of February. The lead time on all products is less than a

week.

Information Technology DoodleBoard will have a large online presence for sales, customer engagement, and community.

The website will include ideas for uses of the board, promotional videos, and the option to

purchase the product. Traffic to the site will come from internet marketing, press, and social

media. Company members will utilize existing social connections to grow the presence of the

site.

Marketing & Sales DoodleBoard will sell the product directly to the consumer. The business will utilize the existing

target market of entrepreneurs and college students in the Babson community. Sales will be

conducted in Trim, Reynolds, Olin Hall, and other area locations through the use of a booth. This

sale strategy will allow the DoodleBoard team to display the multiple uses and convenience of

the product. In addition, the business will sell through a website to reach beyond the local

community. Advertising for the business will follow the creative nature of the product with

unique advertisement placements.

Human Resources This department of DoodleBoard will focus on team morale, job satisfaction, and conflict

resolution. Specifically, Human Resources will create, implement, and carry out performance

appraisals for all members of the business. In addition, Human Resources will address any

conflicts on a case by case basis following an established framework.

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Communications The Communications department of DoodleBoard will work to create and maintain continuity

between all divisions. This will include organization of team meetings and newsletters. In

addition, the Communications department will compile and prepare all deliverables necessary for

the business.

Finance The Finance department of DoodleBoard will provide accounting, budgeting, cash control, and

any other financial related activities. This section of the business will work to pay suppliers,

create budgets for other departments, and track all sales. This information will result in Financial

Reports shared with the CEO and other divisions within the business.

The six divisions of the business will work together to provide a high quality, desirable good to

the marketplace. Guided by the vision of enhancing creativity, collaboration, and imagination,

DoodleBoard allows for infinite possibilities. The business will work to enlighten potential

customers to the benefits while creating a community of DoodleBoard owners.

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COMPANY OVERVIEW

Name of Business: DoodleBoard

Mission Statement: An innovative and portable whiteboard that allows creativity on the go,

unites people and ideas, and is eco-friendly.

Competitive Advantage: In many cases, people do not have the convenience of a handy

whiteboard that can be utilized for things as simple as doodling, jotting down reminders, or even

more practical things like brainstorming ideas during a study group. According to the CNN,

Doodling in a Meeting? Maybe You’re Just Drawing Inspiration, doodling aids concentration

and focus. Doodling is a way for people to stay organized and spur creativity. There are an

infinite number of reasons to doodle, and DoodleBoard will provide a product that allows the

consumer to doodle whenever and wherever they desire. Unlike any other whiteboard on the

market, the DoodleBoard product is portable and lightweight; it will fit in any size backpack or

laptop case. When the DoodleBoard is being fully utilized, it will measure 18’’x 18.’’ However,

when folded, the DoodleBoard transforms into a convenient 9’’ x 9’’ board. Furthermore, folding

the DoodleBoard protects any important notes that can be utilized at a later date and time.

Additionally, DoodleBoard will serve as a great study aid during large study groups due to the

ability of easily joining several boards together to create a larger space for brainstorming.

Charitable Organization Details: The charitable organization of Citizens Schools will benefit

best from DoodleBoard’s profits and effort. DoodleBoard chose to donate to this organization

because of the opportunity to improve education for low income students. Citizens Schools is an

organization that lengthens learning days for public schools in low income areas across the

country. They have locations in California, Illinois, North Carolina, New Jersey, New York,

Texas, and Massachusetts. This educational organization for children aligns with the specific

goal of DoodleBoard to become an asset in education. The DoodleBoard has the potential to

become a great help for children and their learning experiences.

Code of Conduct: Be Punctual

Arrive on time to meetings, as they will begin promptly.

Communicate with the head of the department about any time conflicts with the

meetings or selling stands.

Communication is Key

Always be in contact with teammates and board members, even over weekends

and breaks.

Keep Everyone Involved

Make sure everyone’s voices are heard in decision processes.

Have Respect for Your Colleagues

Be respectful of everyone on the team and be understanding when conflicts arise.

Be Flexible and Willing to Compromise

Keep an open mind to new ideas and solutions.

Be flexible with teammates and work professionally.

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Honesty is the Best Policy

Always be honest with co-workers, vendors, customers, and the external

community.

Be Professional

Always be professional with teammates, vendors, customers, and the external

community.

Represent DoodleBoard in a mature and professional way.

Social Impact: DoodleBoard will make an educational impact on society by encouraging

creativity and providing easy access to jot down ideas. DoodleBoard will also make a positive

environmental impact by decreasing paper waste and inspiring use of a re-useable whiteboard.

The DoodleBoard is an opportunity for consumers, such as entrepreneurs and students, to expand

their creativity in an eco-friendly manner by providing a whiteboard canvas where the consumers

can explore more ways to take notes and new ways make plans.

DooodleBoard hopes to inspire new ideas that will be beneficial for our society. DoodleBoard

will also work to establish secure relationships with suppliers that support corporate social

responsibility to ensure environmental friendliness and good labor rules. DoodleBoard will take

the mission statement seriously and will work to improve social impact overall.

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MARKETING & SALES

The DoodleBoard Logo:

Target Market Doodle Board is a product that is non-age specific. DoodleBoard can be just as useful for a

toddler scribbling as it can be for a college student taking notes during a lecture. Although the

idea initially arose as a way to aid students during the brainstorming process, through market

research we’ve discovered an underutilization of our target market. Ideally, our target market

would be the entire Babson community, not limiting itself to just the student population. In

addition to the Babson students, we’ve included the entire Babson community, such as faculty,

visitors, friends, family, potential Babson applicants, as well as neighboring schools such as

Wellesley College and Olin College.

Promotion of the Product DoodleBoard will be promoted primarily through social media outlets (i.e. Facebook, Instagram

and Twitter). Through these outlets we will create in-house advertising campaigns utilizing video

and photography that will best depict our product. These campaigns will be posted via our social

media outlets to engage our target consumer. The DoodleBoard IT department will lead the

charge in regards to social media, but given that this is a collaborative effort, all divisions will

join efforts to promote the product. There are plans to cultivate and engage DoodleBoard’s target

audience via online contests and promotions. Furthermore, the Marketing and Sales department

plan to take pictures of customers utilizing their DoodleBoards and post them on social media

websites so that the customer’s friends and DoodleBoard’s target audience can see how useful

the product can be. Events will also play a big role in the promotion of our product and that is

why we will promote our product at the FME fair, as well as all other admission events and tours

at Babson. Our company firmly believes that the product will also self-promote given that it is so

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new and innovative. When the first customers start using their boards in class or at the library,

their friends will be curious to see what the craze is all about.

Online Marketing & Sales DoodleBoard intends to use unique and cost-effective online marketing strategies. The website

will be used as a tool to augment the efforts of the marketing department by creating a unique

and successful marketing strategy. DoodleBoard will use the website as a means to spread social

awareness about the various benefits that consumers can gain through the purchase of the

DoodleBoard. Customers will be able to purchase our product from the website via PayPal, an

online payment feature that enables fast and efficient transactions.

By integrating with social media and marketing technologies, such as Google Ads and Facebook

Advertising, the Marketing and Sales department can boost the online presence for the product

and business. Marketing through online social media is a reflection of the business organization

and mission as we promote flexibility and creativity through the product. The website would

change as the marketing and operational strategies evolve over the course of the business. The

company strives to continuously change and upgrade the website to match the efforts of

DoodleBoard.

Sales The product will be available and sold directly to the Babson community via Reynolds and Trim

carts. As DoodleBoard expand, it is expected to utilize the team’s contacts to help sell the

DoodleBoard on other campuses. There will also be an option for customers to buy the

DoodleBoard online.

Sales Quota A sales quota will be established for every single employee of the business, regardless of

division. However, the sales quota will be higher for those employees that work directly with the

sales and marketing division. For the first 150 orders, DoodleBoard members within the

Marketing and Sales division will be required to sell 10 DoodleBoards each. Members outside of

Marketing and Sales will have to sell 5 DoodleBoards each. Any remaining boards will be

distributed to representatives in other universities and high schools. Based on the conservative

numbers, the Marketing and Sales department will predict to sell DoodleBoards at six other

campuses. The Doodle Board team believes that our goals are highly realistic given our 4 week

time frame.

Effectiveness To measure the effectiveness of our sales and marketing campaign, the Marketing and Sales

department plan to establish weekly goals such as stimulating the target market and expanding

social media every week. If the goals are being met, this will serve as a positive indication of the

DoodleBoard’s campaign strategy and will provide a more in-depth analysis of the target market

(i.e. sex, age, ethnicity, etc.).

Marketing Expenditures

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The Marketing and Sales departments of DoodleBoard is only requesting a $50 expenditure that

will be used for the FME business fair, in which the team plans to create a “Doodle Board” photo

booth. To create this photo booth, DoodleBoard will manufacture two life-sized DoodleBoards

whiteboards which will be decorated with balloons and other fun decor. The Marketing and Sales

department will hang posters around campus that will encourage people at the fair to visit the

photo booth, where they will be able to draw whatever they want on these life-size

DoodleBoards. They will then be able to take fun pictures, with their unique backdrop. The team

will then take a picture of them and post it on our social media outlets. It is important to utilize

the FME fair because since it is so early in the semester and because the fair can serve as a

catalyst for our sales. The FME fair is also a fun way to introduce the product to the customers.

Other advertising and promotional videos and photos will be made by the Marketing and Sales

department team and the expenditures will be covered internally. As previously mentioned, the

DoodleBoard can advertise itself; it is a walking advertisement. The Marketing and Sales

department will use this free promotional cost.

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OPERATIONS

The Operations team will be running the business from the start of January until April 18th. The

team will have an executive board meeting at least once a week to keep all members updated on

the progress of the business. Each member of the executive board will be responsible for holding

meetings with their individual section and keeping them informed about what is happening with

the business as a whole. The executive board will divide and delegate work to the Vice

Presidents and then the Vice Presidents will decide how to distribute the work within their

section. The team will begin to work on the final report to faculty and community upon returning

from spring break. The final report will be finished entirely and the team will be ready to present

by April 21, 2014.

The business will need to purchase three separate pieces to manufacture the DoodleBoard;

18”x18” quad-fold boards that fold to 9”x9,” dry erase sticker to mount on the board, and dry

erase markers. The business will purchase these from three different suppliers in order to get the

most affordable prices. For the initial order, Operations will order 150 DoodleBoards and then

plan to reorder another 150 DoodleBoard depending on sales. The gameboards will be purchased

from the supplier, Chicago Game and Card. Chicago Game and Card list the boards for $2.70

each and the cost to ship the boards will be $125. It will take about 7 to 10 days to receive the

shipment after the order has been placed.

DoodleBoard has decided to use rolls of dry erase sticker that are 24”x20 feet. The sticker will be

purchased from mygowrite.com. Each roll of dry erase sticker will cover 13 boards so a total of

15 rolls will be needed. They are listed at a price of $24.28 per roll. The team has not yet been

able to get in contact with the supplier to work out a possible discount. The shipping on this

product will be free and will take about a week. The dry erase markers will be purchased on

eBay from discount central terminal for a price of $0.33 per marker. The cost of shipping will be

$5 and will take about a week. The team logo will be placed onto the boards by using a 5”x5”

circular sticker, which costs $120.75 for 150 stickers. Since shipping for the sticker is free, each

sticker will only cost $0.81 per sticker.

DoodleBoard chose the following suppliers because they had the lowest cost per good and thus,

the highest profit margins. These suppliers also appear to use responsible business processes and

to be environmentally friendly. The suppliers are in the United States and are reliable sources.

However, if a problem with our planned suppliers arises, it will be very easy to find other

suppliers. Contact information for all suppliers are listed below:

Dry Erase Sticker Supplier:

Go Write

Pacon Corporation

2525 N. Casaloma Drive

Appleton, WI 54913-8865

Telephone: 1-800-333-2545

Fax: 1-800-332-5099

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Email: sales@pacon.com

Website: http://www.mygowrite.com

Board Supplier:

Chicago Game and Card

Telephone: 1-630-903-7152

Email: jack@chicagogameandcard.com

Website: http://www.chicagogameandcard.com

Dry Erase Marker Supplier

Telephone: 1-203-448-9327

Email: Dct448@yahoo.com

Website: http://stores.ebay.com/dctshop/

In order to have the product ready to sell by the first week of February, the Operations team will

order the product on January 21st. This allows over a week for the product to arrive and for the

Doodle Board to be assembled. Reordering will occur when inventory gets down to 50 boards so

that there will be enough time to receive and produce the product.

Inventory will be kept track of on an excel spreadsheet with a count of all products listed. All

sales will be reported to operations and tracked. All online sales will be counted at the time of

payment by the customer. Operations will be responsible for checking the inventory in Park

Manor Central twice each week to verify that our count is accurate. All inventory counts will be

shared with the entire team on a weekly basis. The cost of renting space in Park Manor Central is

$50.

To ship the product for our online orders, the team will bring the product to the post office and

have the board packaged with a marker in a large padded envelope. The cost to ship, which will

be around $6, will be paid by the customer.

To produce the DoodleBoards, the team will need to make use of exact-o-knives to cut the

sticker to the appropriate length and width to fit the gameboard. After the sticker has been

attached to the gameboard, the sticker will be cut to fit the edges perfectly. The board needs to be

able to fold so the sticker will be cut from the middle of one edge to the center of the board to

allow for the quad-fold. The team members in charge of manufacturing will wear protective

gloves for safety. All team members will take part in the manufacturing process, but the

Operations team will be the most experienced and will be able to supervise and guide others

through the process.

The manufacturing process for DoodleBoard is a key part of our business. The boards need to be

made quickly, safely, and with attention to detail. The manufacturing process will consist of

placing the dry erase sticker on to the board, cutting it to size, cutting space for folds, and placing

the company logo on the outside of the board. This will take about 10 minutes per board. The

manufacturing process should only take a few hours. In order to ensure the safety of our team the

operations department will make sure that the following safety guidelines are met at all times.

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Only one person will be within 10 feet of the manufacturing space while production is going on.

Any person handling the exact-o-knife will be required to wear protective gloves. The boards

must be placed on a hard, durable cutting surface to prevent slipping and other accidents. Only

on knife is to be used on a single board at a time. One hand is to be placed in the center of the

board to hold it steady while the outside sticker is cut down to size. The knives will be held

firmly in the palm of the manufacturer’s hand. The knife blade must be closed whenever it is not

being used to cut. Operations will be in charge of training the team on the process and safety

guidelines, as well as making sure they are followed during production.

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STARTUP PHASE

The DoodleBoard will take a proactive approach to complete many of the tasks before the

beginning of the second semester in January 2014. These tasks include, but are not limited to,

initial inventory order, manufacturing process guideline, branding, creation of online presence,

and website development. All tasks will be assigned to team members and overviewed by the

CEO and Vice President of each section. These tasks will involve a team effort with work

divided between divisions and team members (based on talent) within the division. Time

requirements will vary based on task, but the CEO will oversee work balance among the entirety

of the team. Communication via email will update all company members of the business

developments. The Communications department will help to ensure a strong business connection

between all departments while team members are away on winter break.

A digital receipt system is currently being designed and implemented by the IT department in

order to streamline the financial and operational challenges of the business. The system will take

less than ten hours to develop and test, and will be fully operational by the second week of

January. By consolidating all cash orders along with online orders into one easy to sort database,

generating sales data and financial reports can be done with extreme ease. The IT department

will also handle website creation and online presence by establishing business presence on social

media sites in conjunction with the Sales and Marketing Division. The entire IT department will

work to create a website with design input from the Marketing and Sales Division.

Before the business can “open its doors,” the team needs to focus on getting the products ready

to sell. This requires the operations team to finalize our arrangements with the suppliers and

place the orders. This will be handled by operations and will take around 10 hours to complete,

spread over a few weeks. Once the materials are on the way the team will begin prepping for

manufacturing. The team has a manufacturing process outlined with guidelines and safety

precautions. The operations team is in charge of training every member of the business to

manufacture doodle boards in a safe and efficient manner. The training should take about two

hours for the entire team to get a firm grasp on what they will be doing. Once all components of

the product have arrived the team will begin work on manufacturing the doodle boards. The

manufacturing process will be split between every member of the business and should take 20-25

hours in total. Once the product is produced we can begin selling.

The Sales and Marketing Department will work to create a clear and proactive plan before the

first sale is made. This will include a clear branding image and color scheme of DoodleBoard to

be used in all presentations and marketing efforts. The branding of the product will be overseen

by the Sales and Marketing team.

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INFORMATION TECHNOLOGY

Doodleboard aims to promote eco-friendly and sustainable business practices and sales

operational strategy that reflects this ideal of our business. The business will use an electronic

receipt system which allows receipt emails to be generated at the time of sale, sent to the

customer and relevant divisions within the company. We believe that this promotes sales through

a more convenient transaction as well as reduces the use of paper. This technology will be

developed within the team utilizing member expertise. It will be built with PHP and mySQL on

the server side, with a mobile-optimized HTML frontend. This will allow the sales team to

collect customer information at the time of the sale, and instantly notify the financial and

operations teams that a sale has been processed, along with sending the customer a digital receipt.

As the data will be stored in a sql database, generating sales analytics will be extremely efficient

without any need for manual data entry. DoodleBoard will collect the customer name, email

address, purchase amount, tax amount, payment status, payment method, sales agent, time of sale,

and units purchased. This information will allow the company to effectively track orders along

with delivering customer satisfaction utilizing the purchaser’s information. The collected

information can also be used by marketing to reach existing customers for promotional events.

DoodleBoard's website is primarily intended for internet sales through the ecommerce platform

‘Shopify’. The effectiveness of the website will be monitored through the tools available through

Shopify, along with integrating ‘Google Analytics’ to keep track of a variety of performance

indicators. These tools will also greatly enhance the effectiveness of marketing efforts through

tracking the direct impact of digital campaigns on page views and sales conversions. The website

itself will be as simple as possible, while reflecting the values of the Doodleboard brand, in order

to facilitate a hassle-free ordering mechanism. Through integrating with Shopify, payment

processing will be seamless allowing sales to be covered through the web site with minimal user

interaction. Based on the analytical information gathered through the ecommerce platform and

Google Analytics, user experience can be enhanced on an ongoing basis.

DoodleBoard intends to implement a unique and cost-effective online marketing strategy that can

help create a strong web presence through the use of advertising via integration with social

media as well as implementing Google and Facebook Advertising strategies in order to reach out

to our target market and people who we think would be interested in our product. At

DoodleBoard, the intention is to use strong digital and social advertising strategies to spread

awareness of our products benefits to our consumers in a cost-effective and unique manner. This

strategy is a reflection of the principles of creativity and uniqueness that are encouraged through

the product at DoodleBoard.

As the ecommerce platform is hosted through the Babson ASI system. Security concerns must be

addressed on the Babson servers. No credit card information will be cached or saved on any

servers operated by Doodleboard at any time. DoodleBoard plans to register a domain name for

the website in order to create a strong and personal web presence. The cost is incurred as a start-

up cost and is reflected as a one-time fee. DoodleBoard does not plan to host the Web Site off

campus as the services are provided by Babson College for a one-time fee. The website will be

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developed within the IT department, and the members of the IT department are responsible for

the technical support of the various systems required by the company.

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SOCIAL RESPONSIBILITY

Doodle Board is a product that has an endless amount of benefits that will positively affect its

consumers in a socially responsible way. With part of Doodle Board’s goal being to provide the

customer with creativity, collaboration and imagination all in a portable and “on the go” form,

the aspect of shared value is the Doodle Board Company connecting with it’s consumers. This

will provide a trusting and valuable relationship and therefore result in consistent revenue. But

Doodle Board is about much more than just making a profit and acquiring as many customers as

possible, although these are large aspects. Doodle Board is also a product that will be socially

responsible and cater to the needs of the customer along with the environment, employees and all

other components that will tie into the company.

One of the most important aspects of a socially responsible company is to take into account the

environment. Doodle Board is a product that has genuine concern for the impact it has on the

environment. Seeing as it is a reusable and durable product, it is able to take the place of single

use products such as paper. It also doesn’t require the use of energy like a laptop would during

charging. The only things required to use Doodle Board are an expo marker and some

creativity.

A second aspect of importance that must be monitored by the Doodle Board Company is safety

especially when it comes to those employees manufacturing the Doodle Board. Seeing as there

will be knives involved in cutting and shaping the white board sticker, extreme caution must be

taken in order to ensure a manufacturing process with minimal risk involved. Also, the company

needs all employees to be at 100% health wise as much as possible. As such monitoring the

safety risk will contribute to maintaining a full staff at all times. In order to initiate the safety

measures, the company can ensure each employee in charge of cutting the material is aware of

proper usage of the knives as to decrease the risk of injury. The company will also be sure to

have other employees on hand who are capable of manufacturing safely in the unlikely event

another employee is injured or becomes temporarily incapacitated.

Each of these precautionary measures implemented to safeguard against potential injuries and

environmental catastrophes will add to the reputation of the Doodle Board Company as being

socially responsible. This company prides itself in providing the customer with a pleasant

experience in purchasing as well as using this product. But it also prides itself in giving its

employees an enjoyable working experience in addition to providing a sustainable product to the

market. Doodle Board is a product that is conscientious of its responsibility socially and the

company will do everything in its power to ensure a product that covers each of these aspects.

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HUMAN RESOURCES, COMMUNICATION, AND TALENT

Talent Within DoodleBoard

It is certain that there is enough talent within the DoodleBoard team to successfully launch this

business. The members of the team have the passion, dedication, and talent that are needed to

turn this idea into a fully functioning company. DoodleBoard has a CEO that knows the details

of the product, and who is also capable of making tough decisions. There is artist and media

expertise coming from Sofia Castro. Aditya Sastry has a programming background and the

knowledge and experience to create a great website. Each of the Vice President have either

previously specialized in their respective field, or have some work experience in them. They are

also able to lead their teams to success. Everyone within DoodleBoard is talented, and with this

talent on hand, as long as the team cooperates and communicates, it is certain that the business

can be launched successfully.

Resolving Conflicts

When conflicts emerge, the immediate person to go to would be the team member’s direct report

(either the VP of the division or the CEO). Discuss the problem extensively with them and

receive any guidance possible.

If the conflict is with another member of the company: First confront the person professionally

and try to work out the problem directly between the two people involved. If this is unsustainable,

bring in either the VP of the department or the CEO to mediate a meeting between the conflicted

colleagues and resolve the problem professionally and effectively. The VP of HR will be present

for any mediating meeting.

If the conflict is with a vendor: First, discuss the problem extensively together with the division

VP and CEO to come up with a plan to satisfy the vendor and still keep the company’s finances

in play. Come up with 1 or more possible solutions to present to the vendor. If the vendor refuses

to accept the solution(s), go to the class professors and/or mentors and gain more insight and

advice on generating more possible solutions based on what the vendor says.

If the conflict is with a customer: First, discuss the problem extensively with the division VP. If

the conflict has any influence on finances, also include the VP of finance - Aniket Shroff. Come

up with a solution that gives the customer ultimate satisfaction and aligns with the company’s

code of conduct and values. Satisfaction of the customer is of utmost importance.

If the conflict is with a board member: Have a meeting with the conflicted team member, said

board member and the CEO. Discuss the problem extensively and come up with a solution that

pacifies all members of the conflict.

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If the conflict is with the external community: Have a meeting with all VPs and the CEO to

discuss the problem and generate 1 or more possible solutions to resolve the problem as quickly

as possible.

Organizational Chart:

Performance Appraisals

The performance appraisals of all the employees will be conducted twice during the second

semester: once in mid-February (February 19h) and once in late April (April 25th). This is also

an opportune time for if a team member feels as though one of their co-workers is not pulling

their weight, to report this behavior to their Vice President. Assessing the employees will be a

two-step process. First, the team members will have individual meetings with their Vice

Presidents to discuss their performance. And subsequently, all the VPs will have an individual

meeting with the CEO to discuss their own performances, as well as the performances of their

employees. The second step will be the written evaluation. It will consist of the CEO evaluating

the six Vice Presidents, and the six Vice Presidents evaluating the CEO. Each evaluation will be

handed into the evaluated colleague. Within each division, the team members will evaluate each

other and hand the results in to the respective Vice President. If any problems arise, the CEO will

review the results of the appraisals and make decisions/resolve conflicts/schedule meetings

accordingly.

In each written evaluation conducted by all members of the team, these questions must be

answered for the employee who is being evaluated:

What is this employee succeeding in?

What does this employee need to work on?

How can I help?

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COMMUNICATIONS

The Communications division in DoodleBoard will ensure that everyone in the company shares

the same vision. To make this possible, constant communicating is critical and this will take

place in different forms. First off, all company meetings will be scheduled when necessary such

as making key decisions, as to avoid differences and misinterpretations. The Communications

division will decide on meeting locations and times based on the availability of the company

members. After coming to a consensus, the Communications division will notify everyone

through the Babson College e-mail. Additionally, the Communications division will provide an

agenda of the meeting so that all tasks are addressed and in an organized and timely manner.

As to increase involvement and motivation within the company, Communications will send bi-

weekly newsletters through the Babson College e-mail, where other divisions may nominate an

outstanding member or other information that is important to share. These bi-weekly newsletters

will be sent out either Sunday afternoon or Monday morning as to boost motivation throughout

the remaining week.

As for communication within the Executive Board, the Vice President of Communications will

be responsible for creating agendas and setting deadlines for the Executive Board. All

communication will be handled through the Babson College e-mail or other methods necessary

such as mobile texting or messaging application.

In terms of completing task assignments, Communications will set deadlines in according to each

division. In order to complete task assignments in a professional and timely manner, all the

divisions will have completed their assigned roles four to five hours before the original deadline.

If any of the divisions have difficulty meeting this deadline, Communications will be directly

assisting the division. The Communications division will then send the completed assignment to

the CEO for a final editing one hour prior the original deadline. After the CEO approval, the

Vice President of Communications will then submit the assignment.

The Communications division will be specifically in charge of composing and compiling the

Pulse Reports. To accomplish this communication with each division is essential.

20

FINANCIALS

PROJECTED SALES

DoodleBoard has projected sales of 300 units over the FME business period. DoodleBoard has

derived this estimate through conducting a survey through the target market. In the first 2 weeks

of the financial period DoodleBoard has estimated no sales because the company has just started.

Throughout the weeks DoodleBoard will anticipated sales that falls from 50 units in the 3rd

week

to 17 units in the last week. The graph is shown below:

Jan-Wk1

Jan-Wk 2

Feb-Wk1

Feb-Wk2

Feb-Wk3

Feb-Wk4

Mar-Wk1

Mar-Wk2

Mar-Wk3

Mar-Wk4

Apr-Wk1

Apr-Wk2 Total

Projected Unit Sales 0 0 50 35 35 35 30 30 23 23 22 17 300

Sales $0 $0 $60

0 $42

0 $42

0 $42

0 $36

0 $360 $27

6 $27

6 $26

4 $20

4 3,600

21

START-UP COSTS

Initial Inventory Purchase $1,070

Marketing cost $40

Rent (Park Manor Central) $50

T-shirts (20) $50

Manufacturing Supplies

Gloves(2) 30

Knives(2) 5 $35

Website Hosting $50

Total Identifiable (Hard )Costs $1,295

Working Capital (see Cash Budget) $45

Contingency (10%) $129

Total Start-up Costs $1,469

The startup cost is estimated to be $1,469. It includes the initial inventory purchase of 150 units

at a cost of production of $7.13 per unit. The marketing cost comprises the cost of purchasing 50

stickers that we are going to use to promote the ethos of our business. The rent is an upfront fee

that the Finance division will pay to Babson College as to have a location in Park Manor Central

for storage. The T-shirt cost includes the purchase of 20 T-shirts with the DoodleBoard company

logo. This will help DoodleBoard with marketing, thus helping the company gain revenues. The

manufacturing supplies cost will include the cost of purchasing 2 gloves and 2 knives. This will

be used to aid the process of making the DoodleBoard. As for the website hosting it will cost the

company $50 upfront. DoodleBoard also has to take into account a contingency of 10%.

22

CASH BUDGET

Pre-Launch Week 0

Jan-Wk1

Jan-Wk 2

Feb-Wk1

Feb-Wk2

Feb-Wk3

Feb-Wk4

Mar-Wk1

Mar-Wk2

Mar-Wk3

Mar-Wk4

Apr-Wk1

Apr-Wk2

Close-Week 13

Beginning cash 0 0 0 (45) 587

1,029

1,471 798

1,177

1,556

1,847

2,137

2,415

Cash receipts from revenue 0 0 600 420 420 420 360 360 276 276 264 204

Sales Tax Amount

0 0 38 26 26 26 23 23 17 17 17 13

Shipping Revenue

0 0 38 27 27 27 23 23 17 17 17 13

Total cash receipts

0 0 675 473 473 473 405 405 311 311 297 230

Cash disbursements

Pay Pal Expense

0.00

0.00

5.96

4.17

4.17 4.17

3.58

3.58

2.74

2.74

2.62

2.03

Marketing expenses

0 25 0 0 0 25 0 0 0 0 0 0 0

Shipping Expense

0 0 38 27 27 27 23 23 17 17 17 13

Company bonding

0 20 0 0 0 20 0 0 0 0 0 0 0

Inventory purchases

0 0 0 0 0

1,070 0 0 0 0 0 0

Office supplies

0 0 0 0 0 0 0 0 0 0 0 0 0

Rent - Park Manor Central

0 0 0 0 0 0 0 0 0 0 0 0

Selling related expenses

0 0 0 0 0 0 0 0 0 0 0 0 0

Travel

0 0 0 0 0 0 0 0 0 0 0 0 0

Website developing & hosting

0 0 0 0 0 0 0 0 0 0 0 0

Manufacturing Supplies

0 0 0 0 0 0 0 0 0 0 0 0 0

Sales Tax Payment

0 0 0 0 0 0 0 0 0 0 0 0

225

Total Disbursements

0.00

45.00

43.83

30.68

30.68

1,145.18

26.30

26.30

20.16

20.16

19.29

14.90

Net cash flow for the period 0 0 (45) 632 442 442

(672) 379 379 291 291 278 215

Ending cash 0 0 (45) 587 1,029

1,471 798

1,177

1,556

1,847

2,137

2,415

2,630

2,40

5

23

The cash budget shows the flow of money in the business. The maximum negative figure is $45

and we have taken that into account in our startup costs.

PRO FORMA INCOME STATEMENT

Jan-Wk1

Jan-Wk 2

Feb-Wk1

Feb-Wk2

Feb-Wk3

Feb-Wk4

Mar-Wk1

Mar-Wk2

Mar-Wk3

Mar-Wk4

Apr-Wk1

Apr-Wk2 Total

Projected Unit Sales 0 0 50 35 35 35 30 30 23 23 22 17 300

Sales $0 $0 $60

0 $42

0 $42

0 $42

0 $36

0 $36

0 $27

6 $27

6 $26

4 $20

4 3,600

Cost of Goods Sold $0 $0

$357

$250

$250

$250

$214

$214

$164

$164

$157

$121

2,139

Gross Margin $0 $0 $24

4 $17

0 $17

0 $17

0 $14

6 $14

6 $11

2 $11

2 $10

7 $83 1,461

Operating Expenses

Pay Pal expense

0.00 0.00

5.96

4.17

4.17

4.17

3.58

3.58

2.74

2.74

2.62

2.03

35.75

Marketing expenses $0 $25 $10 $10 $10 $25 $10 $0 $0 $0 $0 $0 $90

Company bonding $0 $20 $0 $0 $0 $20 $0 $0 $0 $0 $0 $0 $40

Manufacturing Supplies $35 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $35

Rent - Park Manor Central $0 $5 $5 $5 $5 $5 $5 $5 $5 $5 $5 $0 $50

Selling related expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

T-shirts (20) $0 $0 $5 $5 $5 $5 $5 $5 $5 $5 $5 $5 $50

Website $0 $0 $5 $5 $5 $5 $5 $5 $5 $5 $5 $5 $50 Total Operating Expense $35 $50 $31 $29 $29 $64 $29 $19 $18 $18 $18 $12

$351

Add: Shipping Revenue $0 $0 $38 $27 $27 $27 $23 $23 $17 $17 $17 $13

$227

Less: Shipping cost $0 $0 $38 $27 $27 $27 $23 $23 $17 $17 $17 $13

$227

Net Shipping Revenue $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Net Income Before Tax

-$35

-$50

$213

$141

$141

$106

$117

$128 $94 $94 $90 $71

$1,110

24

The pro forma income statement indicates that DoodleBoard will anticipate a profit of $1,110.

The expenses are set up according to the accruals and the materiality concept. The expenses are

as follows:

PayPal Expense

This expense is calculated based on an assumption that 15% of sales will be

online.

The PayPal is derived by doing 2.9% of the online sales value including the

shipping cost of $5.05 and $0.30 transaction fees.

Marketing Expense

This expense includes the cost of 50 stickers that will be purchased at $40 and an

additional $50 that will be used by the Marketing & Sales team.

Company Bonding

$40 is used in company bonding to buy pizza and other food items that can get

the team together.

Manufacturing Supplies

$35 dollars will be used to purchase E-xacto knives and gloves.

Rent

$50 rent will be paid to Babson College for renting space

T-Shirts

$50 will be spent to get T-shirts to market the DoodleBoard.

Website

$50 hosting fee will be paid for the company website.

Shipping Revenue and Expense

This is online shipping Revenue money earned at $5.05 per DoodleBoard sold

online. However the money is just collected on behalf of the UPS Company and is

therefore an expense. Hence the shipping revenue and expense don’t affect the

profit.

25

BREAK EVEN

Startup Cost $1,469.23

List Price $12.00

Breakeven in Units 122

The breakeven quantity is 122 units and the breakeven revenue will be $1469. The breakeven

quantity is reasonable because the company is anticipating a sale of 300 units. We are going to

break even in the beginning of the 4th

week of February.

Process for Controlling the Assets

The inventory will be counted weekly and will be conformed to the figure that is in the balance

sheet.. Only 3 people will have access to the PayPal account (VP Finance, VP operation, Finance

team member and CEO). For the process of controlling the revenue earned (cash) for the

business, we will have VP of Finance control the money and count the cash after each day of

sales to ensure that no money is lost or stolen. We are going to keep the money in a cash box

when doing sales around campus and will keep all other money in the FME bank. Moreover, a

petty cash voucher will be signed when money is given out.

Financial Software Used

For keeping track of money and doing all of the accounting needed for the business we will be

using excel as the primary resource. This will allow for us to ensure the accuracy of our reports.

We will also be using an online sales receipt when sales are made. This will help us keep record

of sales more easily and will enable us to get a summarized sales report weekly.

26

RISK

There is risk in every team to not do well or to be uneffective. Some risk in the Communications

team includes miscommunications, team conflict, absence of motivation, mistakes in

presentations, etc. Since the Communications team is responsible for compiling the Pulse reports

and other presentations, there is a large possibility of not getting each part of the presentations in

time for edits and compiling. That would be the result of miscommunication within DoodleBoard

teams and the Communications team. There is risk that the teams will have conflicts with each

other, which will hinder motivation and work. Another important risk is grammar mistakes,

marginal, and presentation mistakes in the presentations or deliverables

To minimize these risks, DoodleBoard and the Communications team should be in contact often

through the Vice Presidents and as friends. Everyone on the team should use their emotional

intelligence skills and be understanding of everyone’s needs and skills. DoodleBoard members

will have a good mix of professionalism and casual-ness.

27

ENTREPRENEURIAL THOUGHT AND ACTION

DoodleBoard strongly believes in the idea of making sure that everyone involved with the

product will gain a learning experience. One way DoodleBoard will ensure that everyone in the

company will be able to expand their knowledge is by reflecting on the progress that

DoodleBoard has made. Despite the outcome, DoodleBoard focuses on making the business

experience one where everyone is able to expand their skills or learn new skills that will

potentially help DoodleBoard accomplish its mission. Through reflection, members of

DoodleBoard will acquire knowledge that will not only be beneficial to one another but also

provide the consumer and other constituencies an understanding of what DoodleBoard is.

Additionally, having reflections will also help with knowing how to deal with future conflicts

that may unexpectedly arise.

As part of the DoodleBoard mission, fulfilling the consumer’s needs is top priority and to

achieve this DoodleBoard will be open-minded to various solutions rather than focusing on just

one. Apart from taking suggestions from internal resources, DoodleBoard will also aim to take

input from any source that can bring DoodleBoard a step closer to providing the most appealing

and efficient DoodleBoard that could exist.

28

APPENDIX SECTION

Organizational

Chart:

Formal Job Descriptions

CEO: Jack McCarthy

Oversees all operations of the business, and assures DoodleBoard’s relevance to the

community. Ensures the accomplishment of DoodleBoard’s mission and vision. The CEO

will delegate responsibilities while providing leadership to the team as a whole.

VP of Operations: Fred Maley

Oversees the ordering of inventory, and oversees negotiations with the supplier. Will

delegate manufacturing responsibilities between all employees. Will provide leadership

and motivation to the division and ensure the success of the department.

Operations Team Member: Gene Lane

Will communicate with suppliers and place orders. Will decide when it is time to re-order

and be sure to place orders in advance. Will be a leader of manufacturing and not only

produce products but also supervise and help others do so.

Operations Team Member: Akil Akbar

Will track inventory on a regular basis and communicate with financials and

sales/marketing to make sure the inventory and the sales match. Will be a leader of

manufacturing and not only produce products but also supervise and help others do so.

29

VP of IT: Aditya Sastry

Will oversee the success of the creation and duration of the company website. Will take

charge on social media and marketing. Oversees the web design, technical development,

and takes full responsibility for online sales.

Director of Digital Analytics: Andy Pryles

Will monitor web and physical sales using the digital receipt system while coordinating

with finance and operations. Generates reports based on web analytics in order to

optimize user engagement and web traffic conversion.

Director of Web Communication and Marketing: Akhil Agarwal

Will take responsibility for all digital marketing, promotion, and viral campaigns.

Additionally, will be in contact with communications in order to provide customer

support and will oversee all social media presence.

VP of Marketing/Sales: Paula Prada

Will oversee the creation of the logo and brand of DoodleBoard. Will oversee and ensure

the success of PR as well as packaging. Will organize Business to Business selling

operations (if relevant). Will set goals and quotas for sales and see that they are met. Will

delegate all responsibilities equally and see that everyone plays a relevant part.

Sales/Marketing Team Member: Sofia Castro

Will oversee the branding of the product. Will design the logo and any other visual

representations such as powerpoints or visuals for the website.

Sales/Marketing Team Member: Charlotte Widjaja

Will conduct the advertising aspect of the DoodleBoard by taking charge of the events

and preparing the DoodleBoard stand at the FME fair as well as taking charge of the

Preview Days, scripting video ads (that will later be passed on to the IT so that they can

publish on the web/social media), and creating incentives of sales.

Sales/Marketing Team Member: Shan Bhagat

Will oversee the strategy of sales by defining the agenda and location of sales. Will

negotiate with businesses to have them distribute the product. Depending on what

locations have better results, will manipulate the quantities distributed to each place. Will

aggressively pursue news publications for interest in the business, unique classroom set-

up, and product.

Sales/Marketing Team Member: Justin Dill

Will be in charge communication with the customer through the company email account.

Will be in charge of taking pictures of DoodleBoard as it grows.

VP of Communications: Tiffany Tapia

30

Will oversee the success in compiling all pulse reports and other deliverables. Will be

responsible for writing and filing any and all waivers. Will be sure that the report to

community is finished timely and successfully, will oversee the prep of any presentations

and will coordinate with the marketing/sales team when appropriate. Coordinate

Executive Board and Company meetings and will notify everyone.

Communications Team Member: Shun Ping Huang

Aid the process of compiling of all pulse reports and other presentations. Will

communicate with IT and HR in terms of gathering necessary documents from these

divisions.

Communications Team Member: Molly Danzig

Aid the process of compiling all of pulse reports and other presentations. Will

communicate with Finance and Operations in terms of gathering necessary documents

from these divisions. Help prepare the bi-weekly DoodleBoard newsletter

VP of HR: Noelle Pawlicki

Will coordinate all meeting agendas and be in charge of team bonding and making sure

all employees are happy and working well in their positions. Will resolve any conflicts

and be in charge of the reward system for exceptional employees. Will be sure to

maintain company values all while being a motivator for the team and keeping everyone

on task.

Director of Interpersonal Relations: Sam Sherman

Will assist in team bonding planning, and conflict resolution. Will be in charge of

ordering team shirts and other apparel. Will continue to help maintain company values

and be a motivational force for every employee.

VP of Finance: Aniket Shroff

Will make all the financial reports such as the income statement, balance sheet and cash

flow. Will keep the money with him and will ensure that there is a positive cash flow in

the business. Will distribute money to the other departments depending on the amount

they need. Will ensure that the financial statement reflect the correct position of the

company. Will ensure that a proper control is maintained with the assets of the company.

Will ensure that weekly reports are submitted for pulse reports. Will maintain proof of all

expenditures and revenues.

Finance Team Member: Patrick Cheever

Will collect all the sales receipts and sales amount and record them in an excel

spreadsheet and send them to the VP of finance and VP of operations weekly. Will

collect all the expense receipts and will maintain proof. Will record paypal transaction

and will sent the excel sheets to the VP Finance every week.