TWO BUSINESS IDEAS
Table of Contents
First Business name    4
Business Overview    4
Idea Testing    4
Customers    4
Competitors    4
Product    4
Suppliers    5
Business Location    5
Industry    5
Summary    5
Segmentation and Demography    5
Target Market    6
Market Need    6
Competition    6
Barriers to Entry    6
Regulation    6
Second Business Name    7
Overview    7
Idea Testing    7
Customers    7
Competitors    7
Product    7
Suppliers    7
Business Location    7
Industry    8
Summary    8
Segmentation and Demography    8
Target Market    8
Market Need    8
Competition    8
Barriers to Entry    8
Regulation    9
References    10
First Business Idea and its Name
The name that I have selected for my business is Paper Wings—which will be a literary website.
Business Overview
Paper Wings will be a creative literary website, which will be formulated for promotion of the distinctive vignettes that have long been ignored in the sphere of literature. This website will harbour literary fiction as well as non- fiction, poetry, interviews, so on and so forth. Anything and everything that is connected with books. Imbibing the artistic fervour is believed to be an ensuing refinement of the understanding of the readers as well as writers. Along with this, the literary website will intend to nurture all the emerging writers who are to be helped and assisted for honing their craft. This will help in standing beside the less established writers, and give a heads on to the newbie into the publishing sphere, or what can be called independent publishing. This will obviously turn out to be a revolutionary step that I believe will take away the publishing sphere in Australia by storm as well as globally. Since digital publishing is believed to be more viable and feasible option.
Idea Testing
Customers
The customers who have been believed to qualify as the ideal ones for my business belong to all age groups. Since age is viewed to have no bar when it comes down to books, and publishing. Therefore, the multifaceted characteristics pertaining to the need of the customers belonging to all age groups is believed to be our Unique Selling Point.
Competitors
The eligible competitors, which can be viewed as our threats, are definitely Book Riot, Catapult, Purple Pencil Project, which operate globally. This can therefore appear as a threat in terms of entry into the market with such literary websites having higher acclaim.
Product
Since more and more people are being accustomed to the digital platform, Paper Wings will aim to inculcate the reading habit in individuals, through our platform. This is, as we believe will be undertaken by Paper Wings by providing a platform for building patronage as well as at the same time, a foreground of young unnoticed artists from all around the subcontinent whose work seeks attention. Mostly the authors whose works have not yet been published.
Suppliers
The literary agents are thriving in an around Australia will be effective in getting unsolicited works and thereby commission them[footnoteRef:2]. Along with this, the company will also provide an open call to the authors where they can send in their writings in PDF version, and people can order their copies by making an online payment. By this, they get to keep a percentage of the net receipt. Paper Wings’ takeaway is obviously goodwill and along with that a considerably fair amount of revenue. [2: Vadde, A., 2017. Amateur creativity: contemporary literature and the digital publishing scene. New Literary History, 48(1), pp.27-51.
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Business Location
Since this will tend to operate digitally, therefore it will have an outreach at the global sphere with the sheer vivacity of the technology. However, having the physical office based in Sydney, Australia.
Industry
This will fall under the publishing industry, which is itself believed to be niche and has not been widely explored. Delving into such sphere with a quirky idea of having a digital publishing literary website will be effective and beneficial pertaining to writ large publishing industry...