Unit 2 IP
Unit 2 IP
[Name of the Writer]
[Name of the Institution]
Unit 2 IP
Starting a new business or venture is not always easy, in fact, it is never easy. It takes a lot of hard work and effort to bring customers for your business and gain a market share for your newly started setup. I have always been fascinated by technology. I am an avid user of various social media platforms and websites; I try to experience every new gadget that comes in the market. I am hugely interested in mobile phones and I have been using a range of different mobile phones for a long time. Moreover, being a software engineer, I am deeply interested in and fascinated by the development of various soft wares, websites, and graphics.
We all know about Google; it is the most extensively used search engine across the world. Almost every one of us uses Google for their search purposes. I have also been using Google for a very long time, since my childhood, as I had to use it extensively for the purpose of completing my assignments and projects. Moreover, everybody is aware of Facebook and Instagram. Both are social media platforms, where people share about their lives through posts and pictures. I was also very much inspired by both these businesses and always thought of the business processes that were going around in these organizations (Sinek, 2010). The business models, the strategies, the techniques adopted by these technology giants have always inspired me and I have tried to follow their strategic patterns so that I can also follow in their footsteps one day.
Nature of Business
As it has already been established that I intend to stand a business that is related to online services. I hope to start a search engine service that can leave Google behind and become the number one search engine one day. I know, that it is too big to dream any such thing but no-one can limit the flight of one’s dream. The owner of Microsoft, that owns Google, Mr. Bill Gates would also have dreamt one day to create such a powerful search engine, whose capacity could never be beaten and that could store million GBs of information in it. He would have no idea that his proposed concept of a search engine would become so successful one day and his dream would become so big. Today, trillions of searches have been made on Google till now and thousands of searches are still being made every second. This is the success of the biggest search engine in the world that was started on a small level.
In addition to this, once I have established my own search engine, I plan to start a social media website, just like Facebook and Instagram. I know that just like the idea of a search engine, the concept of the establishment of a social media is a very big thing but hopefully I will succeed in it. Through proper planning and strategy designing, I can achieve this status, but firstly I would focus on my search engine business. Then I will come towards the social media thing.
Marketing and distribution channels are the most important and integral part of the business cycle and are the most important procedure through which the sales of the product of a company can be increased (Osterwalder, & Pigneur, 2010). The business of search engine does not require any specific production site or any machinery to produce the products but its marketing is a must factor. This is the reason that I plan to market or create a distribution channel for my newly created website or search engine through various channels and the best channel to market a search engine is also through various search engines.
It is very important for a business, that aspires to become a successful venture, have strong and powerful suppliers who understand the market and have a strong hold over the market. Being an online business, especially a business specifically running in the area of technology, it also needs such suppliers that are all perfect in the field of technology and understands the technological needs of the operating market. The main suppliers of Google include NVidia, Accenture, and Qualcomm (Vise, 2007). I intend to use the same suppliers for my business venture as well, but not in the beginning. In the beginning as the budget of the new startup will be low, so I won’t be able to afford these big names.
Ideal Location for Business
As a whole, online businesses are not limited to any geographical area, any city or any country. They are working online and can be accessed from anywhere in the world. This is the best part about an online business that you can access it from anywhere without the hassle and managing it is very easy as there is no stress of any building or designated area for the operation of the business until unless it is not established completely or starts operating at a large scale. The market of my business will also not be limited to any specific country or geographical area but the whole world. Anyone from any part of the world would be able to access my search engine and use its services. Moreover, the services will be open to all the people irrespective of age, gender, race, caste, color or creed, just like the business model of Google.
Osterwalder, A., & Pigneur, Y. (2010). Business model generation: a handbook for visionaries, game changers, and challenges. John Wiley & Sons.
Sinek, S. (2010). How Great Leaders Inspire Action [Video] Retrieved from: https://www.ted.com/talks/simon_sinek_how_great_leaders_inspire_action?language=en
Vise, D. (2007). The Google story. Strategic Direction, 23(10).
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