Electronic Filing Storage Business Plan
MyHaystack.com is an online filing storage service that delivers, organizes, and files your documents electronically. It functions as a home filing cabinet, storing product owner’s manuals, insurance policies, financial statements, and other important information. An electronic gatekeeper protects your privacy, giving you control over your files.
In addition, MyHaystack.com offers personalized promotional offers based on your filing cabinet contents. Your contact information is never shared for marketing purposes. Registering a new account and agreeing to share information with product and service providers earns you rewards points.
MyHaystack.com generates revenue through permission-based direct marketing and consumer market research. Targeted advertising messages are delivered without disclosing contact information. Aggregate consumer purchase and ownership data is made available to business clients for a fee.
The MyHaystack.com website is an organizational system that provides easy access to user documents and information. It includes personalized search, archiving, and retrieval functionality. Users can control the type and source of the information they receive.
Objectives:
– Total User Base
– Client Base
– Projected Revenue
Keys to Success:
– Consumers have control over shared personal information.
– The interactive system keeps user profiles current and relevant.
– MyHaystack.com improves the relationship between suppliers and consumers.
– Long-term relationships provide unique market research data.
MyHaystack.com is an Internet-based service that delivers, organizes, and files your documents electronically. It stores product owner’s manuals, insurance policies, financial statements, and more. Your privacy is protected by an electronic gatekeeper.
Company Ownership:
MyHaystack.com is a C-Corporation headquartered in California. The founders are the directors and majority shareholders. Shares have been set aside for an employee incentive plan and future investors. Corporate offices are in San Francisco, CA.
Start-up Summary:
MyHaystack.com is raising $450,000 in private investment. The funds will be used for prototype development, adding management team members and advisors, and establishing corporate relationships.
Service Description:
MyHaystack.com is an organizational system and market research tool. It links consumers with product or service use. Market intelligence is provided through an online research tool and industry analysis reports.
For Consumers:
MyHaystack.com offers a personalized organizational service. Users have access to free content and can subscribe to additional services, product notices, and targeted marketing messages.
For Business Clients:
Business clients have access to market intelligence through an online research tool and industry analysis reports. The MyHaystack.com database allows for customized queries and lifecycle marketing analysis.
Technology:
The MyHaystack.com website consists of a client interface, database infrastructure, data analysis tools, and a user interface. It utilizes industry-standard server-based development tools and a structured query language (SQL) database system.
Web Plan Summary:
The MyHaystack.com website is an organizational system with personalized search, archiving, and retrieval functionality. Users can customize categories and receive product-specific information and targeted marketing.
Market Analysis Summary:
MyHaystack.com is an infomediary service that enables targeted market communications and provides market intelligence through an interactive research tool and industry analysis reports.
In conclusion, MyHaystack.com is a comprehensive electronic filing storage service that enhances organization and accessibility of user documents and information. It offers personalized content, targeted marketing, and market intelligence while protecting user privacy.
Consumers today face an enormous organizational challenge. In 1995, the United States produced 4 trillion documents, which equates to over 600 million pages of computer printouts daily. The average American consumer receives 49,060 pieces of mail in a lifetime and uses 250 pounds of paper annually. Around 50% of filed material is redundant or outdated, and more than 80% cannot be located when needed. To address this crisis, an industry of professional organizers has emerged, charging up to $350 per hour for their services.
In addition to this organizational challenge, consumers are increasingly demanding online access to their personal information. The growth of online bill paying services, online financial account management, and online stock trading is evidence of this trend. Other industries, such as insurance and healthcare, are also exploring ways to leverage the internet for document distribution. MyHaystack.com not only delivers data but also organizes it for easy retrieval.
MyHaystack.com goes beyond being an online repository for electronic files. It offers a personalized, interactive organizational system. It categorizes and stores critical consumer data in a personalized "File Cabinet," including product manuals, receipts, insurance policies, financial statements, and other documents typically found in a home filing cabinet. For example, a consumer can register a product online to ensure direct access to warranty data, manuals, technical support contacts, and other product-specific information. The consumer’s file cabinet automatically updates when critical product information changes.
Market Segmentation:
MyHaystack.com has two large market segments to target: individual consumers who need file storage and organization, and businesses that want to market to these consumers or learn about them. While our sales revenue comes from businesses seeking market research or a marketing audience, we can only provide these services once we have a large consumer user-base to offer them.
The table below outlines the total market potential for MyHaystack.com:
Market Analysis
Potential Customers Year 1 Year 2 Year 3 Year 4 Year 5 CAGR
End-users: Consumers 3,000,000 3,600,000 4,320,000 5,184,000 6,220,800 20.00%
Business Clients 90,000 99,000 108,900 119,790 131,769 10.00%
Total 3,090,000 3,699,000 4,428,900 5,303,790 6,352,569 19.74%
Target Market Segment Strategy:
Consumers: Our marketing efforts will focus on technology-savvy consumers who want secure online access to their personal documents. These users are familiar with online marketing and will appreciate the opt-in nature of our data collection. By offering easy access to their documents, security, and organizational tools in exchange for receiving marketing messages, we provide a valuable service.
Business Clients: Initially, we will target high-tech business clients seeking marketing information about consumers who are willing to use online services like ours.
Market Trends:
As Internet usage increases, consumers are demanding more personalized services. Direct marketing companies have shown that a segment of the population is willing to exchange personal information for customized services or online convenience. Consumers frequently personalize Internet portals and adopt online services like bill paying, investment management, and document storage. The growth of e-commerce presents customer service challenges for product manufacturers while service providers seek to remain competitive online.
Service Business Analysis:
MyHaystack.com provides business clients with market intelligence, targeted marketing, and consumer care services. Market data is acquired directly from consumers through our online organizational tool. The market research industry generated $13.4 billion in revenue in 1998, and the internet-based portion is poised for rapid growth.
Business Participants:
The broader competitive landscape can be divided into three segments: traditional research companies, online market research companies, and direct mail and email companies. MyHaystack.com also competes with other organizational systems and internet destinations.
Market Research:
Online market research is a rapidly growing market, with an estimated value of $230 million by the end of 2000. New research tools are evolving to allow real-time analysis of large information databases. However, the number of consumers conducting online commerce is still small compared to the overall retail industry. MyHaystack.com provides ownership and usage data for both online and brick-and-mortar goods and services, offering a unique advantage to businesses.
Permission Marketing:
Traditional direct marketing is a $160 billion market, and online direct marketing is expected to control 50-70% of online marketing budgets by 2003. MyHaystack.com maintains a two-way dialogue with users, ensuring that messages are delivered to willing recipients and that user profiles are up-to-date. This sets us apart from traditional email marketing, making us a preferred and cost-effective option for businesses.
Organizational Tools:
MyHaystack.com offers a highly automated system that limits the amount of consumer effort required to build and maintain an organizational system. This sets us apart from traditional paper-based and PC-based systems. By partnering with online bill payment service providers and file storage solutions, we enhance our organizational functionality.
Main Competitors:
Please refer to Appendix B for profiles of several potential MyHaystack.com competitors.
Strategy and Implementation Summary:
MyHaystack.com aims to build a user base by converting visitors into registered members who use our organizational system. We acquire customers through strategic B2B partnerships with product manufacturers and service providers. Customers access our service through a branded website. Marketing activities and partnerships with third-party incentive programs help increase brand awareness and attract more users.
Sales Strategy:
MyHaystack.com is currently negotiating co-branding agreements in key categories to increase traffic and user registrations on our site. We are partnering with financial services providers to offer online bill payment services, which will be integrated into our organizational system. We are also establishing co-branding agreements with online disk storage and other value-added service providers. These partnerships not only enhance our initial deployment but also accelerate customer acquisition.
Competitive Edge:
MyHaystack.com serves manufacturers and consumer service providers by providing a direct channel of communication with consumers and enabling personalized documentation. Our business clients benefit from increased customer knowledge, enabling them to target new customer segments and participate in direct marketing to a highly qualified consumer base.
Milestones:
– MyHaystack.com selected to participate in the Bay Tech Incubator Program.
– Sara Jones joins Board of Advisors.
– BuildIt Inc. contracts for site development.
MyHaystack.com offers different values to its various target markets. We build long-term consumer value by maintaining relationships with users, ensuring time-series market data. We maintain a two-way dialog with users, making direct marketing more effective. Our highly automated system reduces consumer effort in organizing their documents.
Our sales forecast includes individual filing, dynamic posting, online research, and research reports. The number of individual filings depends on the number of users in our database, and pricing varies based on the type and size of each filing. Dynamic posting takes into account the projected increase in direct marketing messages as our user base grows. Online research includes online research clients and research subscriptions, while research reports are sold individually.
In conclusion, MyHaystack.com offers a unique solution to the organizational challenges faced by consumers today. We provide a comprehensive online organizational system that caters to both individual consumers and businesses. By leveraging technology and strategic partnerships, we aim to become a leader in the market research and permission marketing industries.
Samuel Dewy, a partner at the law firm Watson, Sonoma, Goodson & Rodgers, has joined the Board of Directors at MyHaystack.com. In addition to serving as general counsel, Mr. Dewy’s experience in building new technology ventures will ensure the success of MyHaystack.com.
MyHaystack.com has established a strategic partnership with Stuff.com, an online group purchasing service for consumer electronics and related products. This partnership addresses information sharing, market research, and e-commerce.
Arthur Coopers L.L.P. has agreed to serve as advisors to MyHaystack.com. Steven Cross, a partner at Arthur Coopers L.L.P. and a specialist in emerging companies, will serve on the Board of Advisors.
The Co-founders of MyHaystack.com, John Smith and Jane Doe, have management experience in high-growth technology companies and consumer marketing. MyHaystack.com is actively recruiting experienced industry representatives for the management team and advisory board.
John Smith, former Chief Operating Officer at OnlineNet, brings detailed knowledge of product manufacturing challenges. He developed new distribution channels and established strategic partnership agreements across various manufacturers. Mr. Smith also has a strong background in data warehousing and storage requirements. He completed a Master’s degree in engineering at MIT and an MBA at the Haas School of Business.
Jane Doe, former Director of Marketing at Value Shop Inc., has expertise in consumer marketing and developed internet-based marketing strategies. She also has 8 years of market analysis and research experience. Ms. Doe completed an MBA at Harvard University and has a BA from Dartmouth.
Samuel Dewy, Partner at Watson, Sonoma, Goodson & Rodgers, joined the firm in 1971. He serves as an advisor and board member for high-tech companies in various industries. Mr. Dewy specializes in corporate law related to venture capital and the creation of high-tech companies. He completed his undergraduate degree at UCLA and his law degree at the University of California at Berkeley.
Charles Brock, Co-Founder and CEO of Successful_business_site.com, has extensive experience in forming new ventures. As a partner at Waterhouse & Young LLP, he founded and directed the Entrepreneurial Services Group in the San Jose Bay Area. He is also a Limited Partner of the Venture Flyers venture capital fund.
Sara Jones, Principal at Arthur Coopers Management Consulting Services, has over fifteen years of consulting experience focused on M&A, strategic planning, e-business, and organizational design. She led the spin-off/IPO team of ISAVE from BigTime Corporation. She has valuable knowledge and relationships from working with manufacturing and technology companies.
Peter Downey, Director of Business Development at Advanced Network Communications, has technical and business experience in deploying emerging broadband technologies. He previously worked as a Product Manager at Hewlett-Packard Corporation and has experience at General Electric and IBM.
The company will start with nine employees: 3 in Marketing/Sales, 3 Researchers/Analysts, 2 Programmers, and 1 in Administrative. The marketing/sales team includes one member experienced in affiliate and partner programs, as well as another overseeing website programmers in design, search engine optimization, and user experience.
The Personnel Plan for years 1, 2, and 3 is as follows:
– Marketing and Sales: $144,552, $399,253, $644,103
– Researchers and Analysts: $115,644, $239,571, $386,456
– Programmers: $86,736, $0, $0
– Administrative: $38,544, $159,684, $257,651
In conclusion, Samuel Dewy has joined the Board of Directors, MyHaystack.com has formed a strategic partnership with Stuff.com, and Arthur Coopers L.L.P. will serve as advisors. The management team consists of experienced individuals, and the personnel plan outlines the distribution of employees and payroll over three years.
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