Arjun Dahal
Having an idea to run a business is a tiresome work and more tiresome work is to implement our ideas to run a successful business. Our problems don’t end up here, but as soon as we start our business, the feedback from the market regarding our products torments us to seek measures so that our business does run consistently generating profit, providing us with an excellent return on investment. Thus, it’s easy to open a business but hard to run it successfully being consistent over time, and improving our product plays a fundamental role to pave our business towards a monopoly. This is how empires are formed in business. Through this work, we shall attempt to discuss our business idea, though not now in terms of products available but on how shall our product be prepared to generate profit. We shall have a discourse on what we talked about a business idea and implementing the idea to run a successful business.
An idea:
Our idea relies on starting a publication house to facilitate the students with practice materials. It’s true that our market has been flooded with practice books especially available for SEE students, students of class 12, and for students of class 8. They are commonly knows as Set books among students where modal questions and questions from chapters prescribed in syllabus of the respective classes can be found Since there are lot of publication houses publishing houses, we have to be careful while considering our business.
What’s new in idea:
Since the publication of practice material for grade 8,10, and 12 are abundant, we shall work on a new direction so that we can compete and sell our product in the market. The newness in our idea is by focusing on grade 8 of which, the final examination is taken by the local government at which any academic institution running the respective class is located calling as BLE(Basic Level Examination). Traditional set book has model questions as a set and chapters from syllabus and we shall take a new approach.
New approach in the market:
Our approach is that we shall publish our practice materials consisting only the questions that have appeared in BLE examinations of class-8 asked by the respective local government. This is a new approach by relying on the psychoanalysis of students. Students generally buy books to practice and our approach will allow them to study the questions that have appeared only in BLE examinations, which are hard to found in the current set books. Yes, modal questions are available but our approach is to provide the exact question asked by local levels, as we have 753 local governments in our nation.
Setting and Managing the Business:
A company or a firm can be registered where like minded peoples can gather for a discussion. Since a local government conduct examinations once in a year that too at the end of year, we shall get one modal set from a local government. This makes publication difficult in terms of content and volume of the given material. Thus, to manage the business we have to look from the perspective of a district. In a district, the total number of local governments varies across the Nepal. Thus, we can get multiple questions from all of the local governments of a particular district to successfully launch a product targeting a particular district, so can we can concentrate on the steps that we shall take for the next move
The Next Move:
Once our product is launched, based on our team work, amount of time available for work, and sales of product, we shall aim to head towards the next district. This will broader and enlarge the size of our company plus the steps that we took earlier will lead toward initiating it on next new district where we can repeat the process of obtaining the questions from second district to focus on preparing a practice material solely focusing on the second district.
Aftermath:
Theoretically we can hypothesize to establish a branch or a network in all 77 districts either physically or by our team and that leads us to provide 77 different set books targeted for students of class 8 based on exact questions asked by local government across entire Nepal, which isn’t difficult to obtain. Since a set book consists of questions from all subjects of which students are going to appear in examination, we can initiate a new approach focusing on a set book of a particular subjects. This means that when we consider mathematics and science as most practiced by students from set book, we can compile a set book focusing on those particular subjects. This means that we would generate a set book that can contain 753 set questions of a specific subject like mathematics or science, which we can divide into provincial basis due to larger volume required (753 set is really a large volume).
Challenges:
Challenges lies in performing a routinely team work. Since BLE exams are conducted every year in the month of Chaitra, we need a strong team so that practice books can be sold our from very beginning of new session i.e. Baisakh. For subjects like mathematics, we need to provide the answers too thus we need a competent manpower to formulate work as much as rapid as we can. The best team from the view of author is a team of teachers teaching at schools, whose ideas would again bolster our business. Another challenge lies in successful marketing for which we can visit private and community schools to introduce what’s new in our product and why should they need to buy, and we have to convince the students that they are studying the exact questions asked by various local level governments in BLE. Success for such material to grade 8 would then find its value.
Conclusion:
Doing a business makes us an entrepreneur, provides us challenges, and bolster our economic growth. Through this work we discussed a theoretical perspective of a work available in market by seeking the loopholes to start business and compete with the existing companies in the market. And we are almost sure that our product would be liked by all.
Acknowledgement:
Author has submitted a application letter to Department of Cottage and Small Scale Industries as a part of report for his research and publication based industry. However, the work we have discussed haven’t been conducted or implemented by the author.
