ProjectXBusinessPlanv2(1)

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Project X Business Plan v1.0 February 6, 2010 Preliminary Business Plan Project X, Inc. TABLE OF CONTENTS Page 1 Company Confidential – Do Not Distribute Without Company Permission Preliminary Business Plan Project X, Inc. 1. Executive Summary a. Market opportunity b. c. d. Product overview Business strategy Revenue models 2. Company Overview a. Company Vision To revolutionize the way networking is done today by developing real-time mobile networking tools that allow a user to identi
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  Project X Business Plan v1.0 February 6, 2010  Preliminary Business Plan Project X, Inc. TABLE OF CONTENTS Page 1Company Confidential – Do Not Distribute Without Company Permission  Preliminary Business Plan Project X, Inc. 1.Executive Summary a. Market opportunity b.Product overviewc.Business strategyd.Revenue models 2.Company Overview a.Company VisionTo revolutionize the way networking is done today by developing real-time mobile networking tools that allow auser to identify, meet, and contact the right individuals at all times. b.Founding TeamPeter ChangEugene YehPage 2Company Confidential – Do Not Distribute Without Company Permission  Preliminary Business Plan Project X, Inc. 3.Market Opportunity a.Market Overview and NeedsWe believe that the need exists for a product that is truly designed for all the ways an individual networks day today. The networking tools available to individuals today were not created with the mobile customer in mind.Rather, they were incremental improvements to existing platforms designed for the way customers have traditionallynetworked. For example, as people migrated away from paper rolodexes and business cards to electronic formats,Plaxo and LinkedIn were founded to allow for portability of this data. As an enhancement, these products allowedusers to easily identify adjacent users and keep updated on the activities of those in their network. Thiscommunication was bi-directional as users could also update anyone in their network on their activities as well.While this platform works well in static situations such as on a laptop in the office, it does not facilitate networkingwhen the user or their network is mobile.When trying to network with sufficient time, a user can use current tools such as Facebook, LinkedIn, or Plaxo toidentify and contact others. However, when time and location are essential, such as during travel or at an event,these tools do little to help users tap into the power of their network. To truly address this need, a tool needs to bespecifically built to facilitate networking anywhere, anytime.Given the lack of a comprehensive tool for real-time connections, we identified two major scenarios wheretraditional solutions could limit an individual’s ability to network effectively. The first scenario is when anindividual is travelling either for business or pleasure. The second scenario is when an individual is attending anytype of networking event. These events would include conferences as well as smaller local events such as job fairs,lectures, and presentations.In the first case, where travel takes someone away from home, finding personal and professional connections can prove challenging with existing tools. Today, when preparing for travel, most individuals need to actively reach outto friends, colleagues, or business contacts in order to organize a meeting. This can be done through severalchannels: ã Traditional channels: E-mail, phone, or instant messenger  ã  Newer social media channels : Facebook, LinkedIn, or Twitter With these tools, it requires that the traveler identify the location of his/her contacts and message them individually.The challenge with this path however, is that many contacts are also traveling or have moved, which can easily leadto missed connections. In addition, it is quite time consuming to filter through a contact list to identify contacts bylocation prior to messaging. All of these issues lead to many ineffective and inefficient travels.To combat these issues, there have been some innovations such as TripIt which allow for others to reach out in theevent you are heading to their vicinity. However, these tools face a different challenge where it requires others toassume the traveler wants to be messaged and is also dependent upon others reading the TripIt feed.Another challenge with traveling occurs during the act of traveling. With sufficient time and foresight, it is possiblethat someone organizes a very full, productive, and enjoyable trip. However, as is often the case, trips often containunexpected hurdles. Delayed flights, cancelled meetings, and traffic are only some of the many obstacles that canlead to empty spots in a calendar. Again, with the tools described above, there is very little that can be done toorganize impromptu meetings. A quick phone call or email can allow a traveler to reach out to a few individuals, but this can prove challenging to execute when timelines are short.The second scenario where existing tools fall short is when someone is attending a networking event of any type.Again, there are problems that exist before and during the event. Prior to attending an event, it is generally difficultto identify who else is attending. Other than by individually contacting likely participants, or by examining a participant list that may or may not be provided, it is generally a problem that is not easily overcome. If anindividual is identified, planning then usually takes place through back and forth email or phone exchanges.Page 3Company Confidential – Do Not Distribute Without Company Permission
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