Situation Analysis
Micro / Small Business Market
- “20% of U.S. small businesses fail within the first year. By the end of their fifth year, roughly 50% have faltered. After ten years, only around a third of businesses have survived. Surprisingly, business failure rates are fairly consistent.” (According to U.S. Bureau of Labor Statistics)
- New business:
- Own resources, or small loans.(using resources they could find at home, help from friends, or out-of-shelf software that does not fit the company needs)
- Business’ contact number is the owner’s personal number.
- Schedule and clock in hours are made manually by each employee
- Mix of different software and system for email, notes, communication, accounting, inventory. NOT integrated data
- Dependency on the owner's responsibility, time and resource.
- But as the company grows, dissolving this dependence is usually hard due to the lack of software/technological support or resource to maintain the company running efficiently.
Target Market
SOFTWARE MARKET
SOFTWARE MARKET
SOFTWARE MARKET
"ERP Software Market by Component, Deployment Model, Business Function, Industry Vertical, and End User: Opportunity Analysis and Industry Forecast, 2019-2026," the global ERP software market was valued at $35.81 billion in 2018, and is projected to reach $78.40 billion by 2026, growing at a CAGR of 10.2% from 2019 to 2026
SMALL BUSINESS
SOFTWARE MARKET
SOFTWARE MARKET
According to the U.S Small Business Administration:
· 30.7 million Small Businesses in United States Businesses
· 59.9 million Small Business Employees which is 47.5% of United States Employees
In Massachusetts only:
· 669,224 Small Business
· 1.5 million Small Business Employees
Firms with fewer than 100 employees have the largest share of small business employment in the MA scenario as many as in the whole US
Buyer persona
- Inefficient Planning and Management control (spreadsheets)
- Customer Relationship
- Internal Customers - shareholders and employees
- External Customers - business’s clients
Business automation is fundamental for the organization, bringing all the information together can be different to fail or succeed. This improvement allows managers to overview processes, obtaining data in real time to management information.
Marketing Objectives
Our goal with our marketing plan is to make DUO business solutions visible for potential clients. Using our social media platforms and connections with different industry corporation we will launch our promotions and advertisement with the goal of acquiring at least 20 new clients until mid of 2021.
Competitive Profile
ERP is a system that has been launched since the late 1980s, focused mainly for larger companies. Nowadays, ERPs are made for all company sizes, with local or cloud solutions.
- Competitors: SAP, Microsoft Dynamics, NetSuite, Syspro, Oracle, Infor, Epicor, IQMS, Sage Software Solutions Pvt. Ltd., Workday, Deskera.
We are not creating anything that cannot be copied by another company, and even though this type “on the cloud” system is new, we cannot argue that we are the only ones that can do it.
- Competitive differentiation/advantage is to be able to focus on micro and small businesses (they can choose which tools will suit them better)
- Integrated communication channels
- Facebook message
- SMS
- Phone system partners
SWOT Analysis
STRENGTHS
WEAKNESSES
WEAKNESSES
- Modular
- Scalable
- Few companies in the market
- It “runs” on the cloud (portable)
- Multi-platform
- Integration with different systems (WhatsApp, phones, messaging).
WEAKNESSES
WEAKNESSES
WEAKNESSES
- It can become expensive
- Complex to set it up
- Limited customization (basic version)
OPPORTUNITIES
OPPORTUNITIES
OPPORTUNITIES
- Focused on small/medium business
- Multilingual platform
- Partnership with different service companies
THREATS
OPPORTUNITIES
OPPORTUNITIES
- Competition
- Different laws in each state
- Small business owner/market not wanting to invest in technology.
Sharing important information about updates and new products, but also engaging with our core values about respect for one another, care about the nature and humanitarian actions.
- Instagram will be more for social engagement, but also giving opportunity for people to be direct to our website or sales representative to acquire our services.
- LinkedIn will be more for professional partnerships and expansion in the market.