Competition

Textbooks are a must- have in every class; however, on taking a trip to the school bookstore, they don’t come cheap! Luckily, my entrepreneurial idea steps in to solve this need: why not just buy the textbooks you need from a student (s) who has taken the class …

 

COMPETITOR URL textbooks.com

Textbooks.com as the name suggests is a direct competitor as they offer students a place to a buy and sell textbooks. However, their user interface does not make it easy to find a textbook. In my website, a user will be able to click on a desired subject or department of study, and under it discovers the available textbooks. In addition, the website does not offer customized textbooks from specific schools, while in my website students will offer textbooks which they have used in their specific classes, hence if I go to school at Syracuse University I would specifically want the Math textbook from my school as that is what the instructor demands. 

 

COMPETITOR URL abebooks.com

This website offers customers an opportunity to purchase international edition textbooks (a textbook published outside the United States). Being published outside the United States has an adverse effect of reducing the price of the book. However, this does not guarantee the student who wants to buy the book that the contents are exactly the same as the US version of the book. My website has the advantage of students selling to students textbooks which they have used in class, hence reducing the ambiguity, and the chances of the content not being the same. Additionally, AbeBooks offer students a chance to sell their textbooks through their Book Buyback program. However, students get to sell the books to them for the price which they (AbeBooks) see fit. On the contrary, in my website students have the power to sell their textbooks at their own terms- price!

The PC is a must- have!

Textbooks are a must- have in every class; however, on taking a trip to the school bookstore, they don’t come cheap! Luckily, my entrepreneurial idea steps in to solve this need: why not just buy the textbooks you need from a student (s) who has taken the class …

Since my idea is based on eCommerce, computers are needed so as to enable users to take part in the internet transactions. The good thing is most students on campus have personal computers. If that is not enough, public computers can easily be located on campus, hereby enabling any interested party to create an account, and post the textbook (s) they are selling. In addition, someone will also have the ability to log in, and view the textbooks other students are selling.

On the rare occasion, a student will need to buy a PC (personal computer) which will enable him/ her to partake in the business; I would recommend that they purchase a basic notebook. The recommended specifications would be: an Intel Core i3 or i5; minimum RAM of 2GB; over 2.1GHz speed; at least a 320 GB hard disk; external mouse (brings about efficiency), and a printer (in case they want to print a receipt). Lastly, it is advisable that someone buys a name brand laptop, for example: Dell, HP, Lenovo, Toshiba .etc.

It is worth noting that this entrepreneurial idea makes chief use of personal computers, hence without one it is impossible for someone to take part. This shows how integral this piece of hardware has become. 

I think it's fair to say that personal computers have become the most empowering tool we've ever created. They're tools of communication, they're tools of creativity, and they can be shaped by their user.
Bill Gates

At the beginning of every semester most students are occupied with the hustle and bustle of registering for classes, and purchasing new textbooks for their classes. My entrepreneurial idea is bathed from the need of finding EXTREMELY CHEAP textbooks. I want to create a website which will enable students to sell and buy textbooks from each other, and it will also be open to competitors.

Firstly: as students we all NEED textbooks! Most professors nowadays vocally state that there is no achieving the maximum points achievable in a class without the specific textbook for the class. To meet this need, most schools (should say, all schools) have made a school bookstore available within the premises. This is all fine and dandy, but on taking a trip to the bookstore, the sticker prices are unbelievable! I thought the books were meant for students; the prices suggest otherwise! On the back of my mind, I believe the government is keen on helping its citizens find and meet the costs of education, hereby there being a need to subsidize the cost of text books. But I seem to be on my own on this; however where there is a will there is a way!

The central theme of my entrepreneurial idea is to come up with a student managed online store in every school which offers students the opportunity to market/ sell their textbooks online. For example, the textbook for one of the courses I am taking this semester (IST 233) is going for $200+ on the bookstore; however I was able to get it on eBay for $50, and another student who had previously taken the class is selling me his for $40.

So how will the website work? The website will be open to all schools; hence any student from any school can advertise a textbook that he/ she is selling that was previously used in a class. For example, currently I am taking MTH 183, and I had to “painfully” purchase a textbook:  Goldstein, Schneider, and Siegel (2004). Finite Mathematics and its Applications, (2nd custom ed.). Prentice Hall, Custom Edition for Syracuse University. Now, as you can see this is a Syracuse custom edition, meaning it is not only the 2^nd edition, but it is customized for Syracuse University, MTH 183 students. This is not available online, but it is ONLY mad e available in the Syracuse University bookstore. When I finish this course, I will go to the website, search under schools for Syracuse University, and under courses click MTH 183, and give a description of the textbook, and post some pictures, and finally put whichever price I am selling it at, or better still allow my customers to bid on the textbook, and have it sold to the highest bidder.

I acknowledge that there are many websites out there where anyone who is looking can get a good deal on textbooks; however I firmly believe that it is far much easier and convenient to deal with a fellow student who had taken the same class previously as he/ she has the same exact textbook and will most probably want a good deal for it. Furthermore, I know that the book store actually buys back textbooks from students, however the prices at which they buy back the textbooks are fixed, and not open to discussion hence if I am selling a book to them, it’s on their terms, not mine.  There is also the need to make available custom school textbooks, whereby some schools customize their textbooks so as to only keep the coursework which they will teach. These textbooks are only available on the bookstore of the specific school. The website will have a feature which will give the buyer and the seller the opportunity to haggle over the price of the textbook, until they reach an agreed price (which will work for both parties).  In addition, depending on the geographical area of the seller and the buyer, if they are on the same vicinity, say they are both Syracuse University students they can meet in the school and perform the physical exchange of the items.

All in all this website will offer a cheaper, and more convenient way to purchase and sell textbooks, and give people (students) a chance to interact amongst themselves!

Employing the use of Social media, and Excel

Whenever a new semester starts students are in dire need of textbooks, but very cheap textbooks don’t come by easily, and my entrepreneurial idea is bathed from this NEED! I want to come up with a website which will offer students the opportunity to buy or sell their textbooks.       The use of social media will be integral to the starting up and the survival of the website. Most students will post information about the website on their walls so as to attract clientele, and in the long run this will be a really good way to market themselves and the books they are selling. The website will also have its own page which will play a huge role in facilitating the communication process. Twitter will also play a huge role in facilitating the relationship between the customers, as I would want to have someone in charge of social media, who will filter through the different tweets and find what’s relevant to the company hence helping us to serve the end consumer better. It is interesting how fast information travels on the Internet, and it is vitally important for any company which is keen on being around for the next many years to make sure they have a good team dedicated to managing the company’s reputation online.       The website will need to employ the use of pivot tables in Excel to manage the different transactions. These will provide an easier way to present information. Another benefit of employing the use of Excel is that whenever specific information is needed, it will be very easy to present it, as someone can easily change the data being displayed.