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MGMT20143 Think Big

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Question:

Customer/Market problem

The web design services industry is growing at a rapid pace, since the last decade. Much of its growth can be attributed to the internet and development of new and innovative web design software tools. Many traditional graphic designers have entered into the web design services industry, owing to large market share and unlimited opportunities. Likewise, with tremendous increase in internet users and broadband speed, almost everyone has an online presence, and many of them are using internet to earn money in their own way. Web design services is one such industry, which has tremendous potential in the digital world.

However, most web designers and developers often fail to launch their business in a successful way, as they are not prepared to scale the size of the business and have no resources to ensure the business remains competitive over a period of time(Brown, 2016). There are many challenges faced by web designers and web designing companies. One is that the web designing profession leads an endless business cycle, which means that web designers have to spend great amount of time on getting new contracts and simultaneously complete existing projects. This leaves less space for web designers to properly plan their revenues and also develop strategic plans, as they are trapped into this endless business cycles.

Web design projects often require ongoing support and maintenance, and individual web designers often do not have necessary manpower to oversee these activities. However, these ongoing support and maintenance activities provides regular income and helps in getting long-term work. It is very difficult to establish lasting business relationships, unless one can deliver value over and over again(Avoyan, 2012).  Web designers face difficulties in demonstrating value in the background, as they are more concerned about seeking new projects, to improve their business, while ignoring the already existing projects.

2. Benefits to be generated by the business idea

As we have noticed that there is huge potential in web design services industry and in Australia, the industry revenue is estimated to grow at 3.3% for the next five years through 2017-18 to reach more than $ 1billion(IBIS World, 2017). This increase in growth, is also due to access of web content through smart phones and tablets, which are more comfortable and easy to use. However, since individual web designers, find it difficult to scale the size of business, if this business opportunity can be handled as a company, with simple, yet formal organisational structure, there is lot of potential to tap this market.

Web design solutions can be offered to individuals, small businesses, non-governmental organisations and even large corporations, as everyone needs some form of web design solutions to attract their own customers. In fact, web design services can also be used for non-commercial purposes, such as for education and training and for individual needs, therefore the scope of generating revenue and expanding business operations in this industry is huge(McCreath, 2017). Moreover, since this service can be delivered through online media, geographical limitations also cease to exist, and it offers global business opportunities.

Unlike individual freelancing web designers, if we can have an organisational setup, there is scope to offer wide range of services such as web designing, web development, e-commerce development, digital marketing and search engine optimisation and many more services from a single source. This offers more revenue streams and also adds value to the services, as customers can find all web design services and solutions from a single source. According to industry reports, there are no companies with dominant market share in the web design services industry, which again is a positive factor for the business.  Finally, there are nil to minimal barriers to enter this industry and amount of funding is also minimal and can be started with minimal investment.

3.Feasability of the idea

This business idea is completely feasible, as there is lot of potential for web design services currently and in the foreseeable future, and moreover it requires little investments in terms of money and resources. However, to capture large share of the business it is important to establish a company, that is dedicated exclusively to provide complete web design solutions. Likewise, this business idea requires, hiring specialist web designers and web developers, who have expertise, experience and skills in latest web designing tools and web programming development.

By providing simple to complex designs which can be accessed from multiple platforms such as in smartphones, desktops and cloud platforms, there is huge potential to attract large number of customers from diverse industries(Malik, 2016). Furthermore, by providing complete web design services and solutions from a single point of source, it becomes easier for the customers also to avail wide range of services, without having to look for different web solutions from different vendors. Overall, this business idea has huge potential to succeed, generate good revenues and has potential for quick growth.

4. Business model

Key partners: The key partners for this business include expert design community members who can provide crucial information, feedback and other creative ideas, which can enhance the value of the company’s offerings. The company can also forge alliances with reputed web design related magazines and publications for sharing information.

Key activities:The key activities for the company includes web designing, web development, e-commerce development, search engine optimisation, digital marketing and even providing training and development programs for corporates.

Key resources:Since, the company is into creative field, the key resources for the company includes diverse web design related professionals, engineers and programmers. The company can also claim intellectual property rights on the web design software tools that it develops, which again can be critical resources for the company.

Value proposition: The company aims to provide one stop solutions for wide range of web design and development related solutions to customers across multiple platforms. The company can demonstrate value to the customers by leveraging on the combined power of multiple services delivery at low costs.

Cost structure: A major portion of the costs for this business goes towards salaries payable to technical personnel, including design engineers and other professionals. Likewise, web design software acquisition costs, website hosting charges and other investments in offices, hardware and infrastructure form the overall cost structure for the business.

Revenue streams:  The company can generate revenues from its customers through monthly, quarterly and annual subscriptions for its use of products and services. The company can also provide customised web design solutions to corporates, which can have varied rate, depending on the type of the business and number of users. The company can also generate revenues from its training programs.

Customer relationships: The company can offer online and offline support systems to its customers in the form of helpline and 24/7 chat support systems.

Channels: The company can offer its products and services through multiple platforms such as smartphones, on-site implementations and cloud services, depending upon the requirements of the customers.

Customer segments: There are three customer segments for this business, they are individuals, small businesses and corporates and educational organisations.

5.Critical Success Factors

The web design services industry is a creative industry, coupled with technological intensiveness, it is therefore paramount for the company to constantly innovate and offer new and quality services to its customers. The long-term success of the company depends on how the company responds to industry demands and how it can offer uniqueness in its products and services.  Since, ongoing maintenance and support services provide regular incomes to the company, the company should plan its strategy such that these services are included in the beginning of the engagement, although the costs can be lowered to retain customers.

The company should pursue a highly competitive pricing strategy, which focuses on quality service and cost control, this ensures that the company can maximise its profits without compromising on its services(Flavian, Gurrea, & Orus, 2016). Customer satisfaction, is another critical aspect for retaining customers, the company should maintain a dedicated customer support team, which can provide 24/7 help to customers. Demonstrating proven value is critical for the company, especially in this competitive segment.

Web design solutions often change rapidly, and the customer always want to have best tools to be used for their website(Korgaonkar, 2009). The company should be able to provide regular reports to customers on how their websites are performing against abenchmark, and this should be provided directly from the technical department, as this demonstrates the seriousness of the company in delivering value to the customers(Tsironis, 2017).Finally, the human resources, especially design professionals are critical assets for the company, the company should invest a lot in terms of training, knowledge and monetary benefits to attract and retain best talent in the industry. All these factors contribute for long term growth and success of the company.

References

Avoyan, H. (2012, October 16). 5 Challenges Faced by the Web Design and Development Business. Retrieved May 5, 2018, from http://www.apmdigest.com: http://www.apmdigest.com/5-challenges-faced-by-the-web-design-and-development-business

Brown, E. (2016, February 10). 7 Biggest Challenges Of Web Design. Retrieved May 5, 2018, from www.designmantic.com: https://www.designmantic.com/blog/infographics/7-biggest-web-design-challenges/

Flavian, C., Gurrea, R., & Orus, C. (2016). "Web design: a key factor for the website success". Journal of Systems and Information Technology, 11(2), 168-184. Retrieved May 5, 2018, from https://doi.org/10.1108/13287260910955129

IBIS World. (2017). Web Design Services - Australia Market Research Report. Retrieved May 5, 2018, from www.ibisworld.com.au: https://www.ibisworld.com.au/industry-trends/specialised-market-research-reports/technology/web-design-services.html

Korgaonkar, P. (2009). Critical Factors to Successful Website Development: Opinions of Website Designers and Developers. International Journal of E-Business Research, 5(4), 1-16.

Malik, P. (2016, December 21). Testing the feasibility of your business idea. Retrieved May 5, 2018, from https://yourstory.com: https://yourstory.com/2016/12/feasibility-of-business-idea/

McCreath, T. (2017, August 21). Top 100 Australian Website Design Firms. Retrieved May 5, 2018, from websiteadvantage.com.au: https://websiteadvantage.com.au/Website-Designers-Australia-Best

Tsironis, L. K. (2017). e-Business critical success factors: toward the development of an integrated success model. Business Process Management Journal, 23(5), 874-896. Retrieved May 5, 2018, from https://doi.org/10.1108/BPMJ-02-2016-0030

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