Introduction and Concept
The plan is to set up an institute for infants to expose the true talent they are born with.
The need of the plan:
In the current times with the knowledge sector booming and economy expanding, with the rise in prices of commodities and increasing standard of living there is a need within people to compete with each other for money and power to be the best and to gain a respectable status in the society. With the growing population and with the limited number of seats prevalent within the education sector to support the billion population with above standard knowledge there needs to be an awakening within the people to venture into avenues which capture their truest talents. Not every person is able to walk his talent. Sometimes for money or sometimes because in his pursuit of exploiting his talent his family income suffers or sometimes due to external peer and parental pressures, one is unable to even know where his true talent lies.
The most important benefit of this plan is to make a sense of realization endow upon the parents of the children with regards to their children's true talent so that they can invest their time, money and energy into something which the child is excellent at and into something which the child will enjoy pursuing for the rest of his life.
This will benefit the standard of living of the people and will lead to a qualitative growth of the nation on the whole.v
Mission and Strategies:
The central purpose of the plan is to expose the infants to an environment which will encourage the exposure of their true talent. The environment will involve activities which will span across workshops to technical behavioural softwares to musical instruments to child behavioural/aptitude tests and psychological assistance.
- Well defined environment with equipments which will help know every minute talent of the child.
- The equipments and softwares are tested and have quality assurance.
- Involve the parents so that they can become better aware of their child
- Parental guidance on how to go about working in order to horn their child's exposed talents.
- Very new concept so difficult to penetrate into the minds of the people who have fixed set of ideas and are not open to change.
- Parents with businesses generally prefer their children joining their own businesses and hence will train their children in such a way since birth so that they take over the business.
- Setting up infrastructure and softwares is a difficult ask and will involve a lot of research and tests.
- Immense competition
- Not enough seats for people pursuing only one kind of qualification eg: MBA from IIM's
- There will be an improvement in the standard of living of the people.
- Once people know their child's true talents they can plan their investments accordingly. This will give a boost to the financial sector of the country.
- The service is difficult to accept in the first shot unless it is tested and proved.
Profile of the target market:
Target Benefit: Infants from 0-5 age
Target Clients: Parents
SEC: middle upper class to upper upper class
Household Income: 7 lacs +
Age: late 20's +
Area of coverage: Napean sea road, Altamount road, Pedder road, Charmichael Road, Breach Candy, Walkeshwar, Cuffe parade and Colaba
Lifestyle: Spends on themselves and on their comforts and luxuries, owns atleast 1 car, has a maid, children will be going to Cathedral, J.B. Petit, Campion schools, ones who tend to give their children material pleasures such as playstations, speak mostly in English, buy branded clothes, go on atleast 1 visit within or out of India, have club memberships and children tend to pursue some kind of sport, parents, gyming is a part of their routine, parents are well learned and educated and hold positions of status and power at their jobs, exposed to star plus, HBO, star movies, AXN, Zee Caf, Travel and living and Discovery channels,
Social Status: have a wide societal status, very particular about their appearance and their conduct in the society, women are well educated and want the best for their children, the fathers are knowledgable and love to discuss current news and sports with their children
Family Time: the parents spend atleast 2 hours together after dinner discussion various topics of interest
User Status: If they invest in something they are very particular about gaining all that they had expected while investing in it. Particular about their money and keep a diary on everything money is spent on. They prefer doing a detailed survey and market analysis before investing money and energy in that.
If they are satisfied with the return they receive, they will invest more and also recommend the service to others
Marketing Strategies, Sales Plans and Projections:
Initially start with word of mouth.
Work in child care centers and schools and learn more about children and their responsiveness to certain types of behaviour and environment
Target schools, psychologists, child care specialists.
Start learning and build infrastructure and hire people
Start with atleast 5 infants giving them and their parents close intense attention and exposures to all kinds of environment
Grow with 10 to 15 infants in a batch.
Break even in my accounts
Grow with atleast 4 batches in a day with 15 infants per batch
Invest in teachers and trainers and psychologists
Invest in newer software and technological up-gradations via new learning through seminars and meetings around the world
Invest i n a bugger space and increase my target clients case
Attend seminars and be abreast with the developments in the field of child psychology and behaviour. Be updated with the new technologies and softwares available.
Management and Administration:
The management team will involve trainers and child psychologists and child behaviour specialists. There will be necessary training imparted to them on the new technologies and how to use them. Compensation will keep increasing as there are new people taking advantage of this service and as the business scales up.
Technology and Systems:
The technology and softwares will be either imported or will be custom made specially to suit our need.
There will be financial aid taken from banks to support the costs of our import of softwares and technologies, of land and building up the space taken for setting up the business, for staff compensation and benefits.
The business expects to break even in the 5th year so as to recover all the costs.
The high level projections for the revenue and costs would be only for technology and software up-gradations which will keep happening as time progresses.
Funding requirements and Proposals:
Funding will be for the staff, software and technology, space and land, up-gradations and other miscellaneous costs. Possible sources for funding will be financial institutions to avail of loans.
Invest in personal growth in terms of knowledge and experience in the field of child behavior and psychology for a period of 1 year. Start investing in infrastructure and other requirements in the 2nd year and then scale up.
The people in India might be receptive towards accepting such a service in the beginning but with evidences they will become open to receiving the service. This is because there is a huge need to know your children in the current world of cut-throat competition where the parents cannot afford to give enough time to their children due to which they miss out on being a part of their important formative years. Due to this they even miss out on knowing their own children. They have the money but they do not know in way to put that money to use of the child so that he can benefit from it the most. There is a latent need which exists within the parents in knowing their children well and to remove that fear from their minds of their children treading the wrong path. This will be possible because if the parents involve the child into pursuing his true talent from the beginning the child will bloom and will never resort to incorrect practices in the future. It increases the confidence level of the child and makes him stand out better in the society.