wow, happy for those guys, but those who submitted other media strategy are left behind cos probably they are more than those who submitted the library strategy or u setting up another contest for it?

Do we get access to the plans too. . . if not first, at least 2nd or 3rd.
We can at least have a sniff of what made them earn the positions.

First, goodlook for announcing the winners, atleast, you ve held your credibility. Then for all those shouting ebooks and online stores, I gave you a hint, you followed @nateevs lol. I gave you all a hint that this guy wants to laugh over your entries, the nigerian business climate does not favor ebooks and online business and stores now generally. Take note next time. I am a business executive and I should know. And then seun, I know some folk would have given more straight ideas but you brought it confusion when you were not heeding to my call. Anyways, good you found what you looked for, but can you give a rundown of the entries and your criteria for choosing winners, if you cant post winning entries. Plus nos of entries recieved

seun, do you have any idea of the time invested by those who wrote about media rental? all because of your stupid mistake

^ Sorry,  Next time when you want to participate in this kind of stuff do as if you are the one who is going into the business. If I give you a million bucks to start media business in Nigeria today, from a business and profit point of view, would you start with ebooks or online? So you should rather blame youself for not being smart. I only blame seun cos he diverted the quality of entries and he said he studied this extensively. With all the time I wasted here telling him to carry on.

Mr Globe.

You don't have to be rude to people because they do not accept your opinion. As a "business executive", you should know better. And no, I am not Angrykid. I did not enter the competition because I chose not to and I stated my reasons clearly.

And for your information, I never said Ebooks is the way to go in Nigeria. As a "business executive" you should be able to see that. I have repeated to you over and over but you never listen. I never said Ebooks is the way to go. If you think I am lying, find the posts.

The whole point of my posts was that there are imminent threats to the "Library for Profit" business. One of which include Ebooks, and at that rate, it is sure a declining market. If you really are that "business executive" you should see that from a distance.


I thought you said you are an Entrepreneur. . . . Now it's Business Executive. . . Shiorrr!


Business Executive my ar.s.e. You don't even have the traits. If you are confident about yourself, I will be in Nigeria next week, let's meet face to face and have a discussion then we know once and for all how business minded you are.

^ Apologies lol.
Why are you always on one side of the divide? So in your books, one cannot be an entrepreneur and a biz executive at the same time? Smh. You are damn shallow but am tired of going back and forth with you. You can never be what you are not. I don't even want to brag about my 'familiar' here so lets just let it go.
I don't have a problem with people who ignore my idea. The only problem is when they come back to cry wolf.
Have a nice trip to Nigeria

Of course you can be both. I know a lot of people who are both and do very well, so No! Mr. Globe I am not shallow (Thanks for the insult by the way)

The problem with you is that you spent a life-time here telling us how you know what you know all because you are an "Entrepreneur". . . . Now you are telling us you know all you know because you are a "Business Executive". . . .The thing is you don't behave, discuss, introduce points and defend points like a Business Executive. In truth, you don't sound like you have been to a board room before. . .

A business executive never ignores figures. A Business Executive reads and interprets market decline, market threats, financial statements, percentage sales, revenue, profits and losses. A business executive understands global trends.

You never did anyone of these things. . . Yet you had a ton of minutes to rise up to the challenge. When you have a point to defend and someone challenges you to find proof for your point, you rise up to your reputation. It distinguishes and further strengthens your position.

You don't need to brag about who you are. The things you say will justify the things you are yet to say. So while you are there claiming I am crying wolf, I say rise up to defend your points. . . Like the Business Executive you claim to be. 


We are still waiting for the following from you:

1. That profitable Library in the UK.
2. That profitable Library in the US.
3. Proof that the physical book market is not a declining one.
4. Proof that by Ebooks won't overtake physical books in 50years.


Be that Business Executive you are and prove us wrong. Take those points and incisively disintegrate the notion of the naysayers. Or you can take my challenge, meet me in person and let's have a discussion - a friendly, informative and very spirited discussion.

Send me an email and let's meet. However, you won't take my challenge because you have said a lot you cannot defend.

I don't believe time spent thinking about how to solve a business problem is wasted time. However, I'd like to offer a consolation prize of N5k to all those who wrote decent essays that I could not grade. This is to compensate you for your time. I always try to conduct my affairs fairly. Cheers.

@Nateevs I really had a great laugh over your post - in the positive sense though. First you can't make your opinion of me generic. Its just your opinion because I don't agree with your points since I think they are half baked. YOu must not try to make me think towards your direction before you rate me as a business person. I believe the people who have been watching this debate from the sidelines would judge us better.

nateevs:

A business executive never ignores figures. A Business Executive reads and interprets market decline, market threats, financial statements, percentage sales, revenue, profits and losses. A business executive understands global trends.

Yes, that's true but if everybody has gone by the things you posted above, we wouldn't have had many multi national companies today, we wouldn't have had twitter, we wouldn't have had great innovations today. Remember in the bible of entrepreneurs risk taking is inevitable, it now hovers on you to put your work right, create your ideas, weigh it , develop it and bring it to the table (which is what seun wanted to do with this essay until he lost focus). Yes can't do without figures and trends but what you count as failure might not be the same to another man, that's why we have different brains and IQS. That's why when Jesus told was it Lot in the bible and Abraham to pick a land, lot went for the trend and beauty but Abraham went for the substance. (sorry if I took you into the bible but you have to read that up). Maybe the strategy that brought in the figures were faulty and another man sees there is a future where people have written off. If we all looked at figures and statements, there would not be any innovation. The ability to look through figures and create your own ideas and bring it to the table is the diffrence between an entrepreneur and a business executive who manages ideas of an entrepreneur. And entrepreneur DOES NOT FOCUS ON TRENDS. They can be very fickle. You gotta think through. In the case of books and ebooks. Yes Ebooks are touted to be taking over but its still on paper. It has not reached to the common man in Nigeria who has yet to feed well to go on buying a kindle. The Common Nigerian who does not have regular access to electricity and internet. And you think they will do so any time soon. Many countries have 24/7 power supply but Nigeria still has nothing and it has spanned over decades. Now don't tell me power has no role to play in ebooks, especially if you have to consider educational purposes. the world you talk about have not even fully embraced ebooks. Books are still selling and renting worldwide. Infact people are still making money from books. Should we abandon this market and go for ebooks? even in America? No. Books still have a decent future so a Nigerian businessman need to live in the now and make money in the now. The market will change its self in the future, afterall the people who were selling CDs transformed to digital when that time came but even with 'hurricane digital', CDs are still selling, artist are still selling a million copies first week with all the itunes and free downloading online.

nateevs:


We are still waiting for the following from you:

1. That profitable Library in the UK.
2. That profitable Library in the US.
3. Proof that the physical book market is not a declining one.
4. Proof that by Ebooks won't overtake physical books in 50years.

Since you will not believe me if I say it, but this lady in the US shares her experience and don't worry, its not back dated. Its from this month and year

http://keligwyn./2011/10/03/a-sure-sign-that-the-printed-book-is-not-dead/

Here is a list of both private and public libraries in Los Angeles alone

http://getlosangelesonline.com/la-libraries.php

I told you if you do a bit google, you will find numerous libraries, I don't want to flood this place with links
Ebooks won't overtake books in 50 years? common, what can I say? Even if it overtakes it then it will be both sides. people are making money from both ebooks and books this day so from whatever proportion it comes in future people will still be making money from both sides. The market is large enough to accommodate everybody. And am not God, neither is anybody that can see the future. If I give you money to set up an online ebook store in Nigeria today, i bet you would never want to involve yourself with that.

Seun:

I don't believe time spent thinking about how to solve a business problem is wasted time. However, I'd like to offer a consolation prize of N5k to all those who wrote decent essays that I could not grade. This is to compensate you for your time. I always try to conduct my affairs fairly. Cheers.

wow, guess a some people are happy now lol. getting paid for irrelevance. Haha. Nice of you seun but how many people are these and how many entries came in. We watched and kept alive from the start and you are failing to share details with us. I expected you to give us a rundown of the contest. if possible, let get a peep at the winning essays or others. You say all those like it is 20 people and all. Anyway, I acknowledge your compassion and honesty though but I guess you were not ready for this.

from SEUN, I don't believe time spent thinking about how to solve a business problem is wasted time.  However, I'd like to offer a consolation prize of N5k to all those who wrote decent essays that I could not grade.  This is to compensate you for your time.  I always try to conduct my affairs fairly.  Cheers.

KFC money don sure, lol, but i think you should post the  2nd and 3rd essays, you can keep the essay that won the competition. i really want to read what they submitted. i participated in the contest and i believe what i submitted made sense. i want to know what made their entries special.

and oyeah, @nateevs, I have to say i did not insult you or intend doing so, I appreciate you opinions and I think it has been mutual. At the end of the day, we can all agree to disagree

@Mr Globe.

No worries. It's nice to know you don't intend to kill me.  No two people have the exact same line of thoughts on business so like you said, we will have to agree to disagree. I do not think you are a mug for not accepting my point, I just wanted you to defend your point with facts. Though I still do not agree with your points, I appreciate the fact that you took some time to write something long. It shows you care about your point and not just plucking out of thin air. . .

It was nice having a very lengthy debate with you. Hopefully we'll agree on something on another thread. . . . . Meanwhile that list I bet you is a list of public libraries which are very different from "for profit libraries" . . .

Setting up a profitable media renting business from scratch in Nigeria

If I am given a million naira capital to set up a profitable media renting store in Nigeria, I will first plan the business, analyze the market and work towards strategizing my business to meet the imminent needs of my target market while also being flexible to embrace new trends as the market grows and expands. The idea will be: not getting ahead of the market while also not being a day behind the market. I would want to easily move with the market while also creating or adopting new innovations that can easily be embraced by my potential customers.

The market: Media Renting

Outside DVD and maybe CD renting, this business should be the first of its kind in Nigeria. Starting a new business like this, one has to be very smart and cautious in order to make reasonable progress. First I understand the media business is being projected to go digital in the near future but however, the market in Nigeria is yet to move towards that direction and with all indications and common sense, I can ascertain the market in Nigeria will not be overtaken by the digital trend in the near future. The inaccessibility of the internet by majority of the Nigerian populace, poor electricity and poverty comes into play in my conclusion. So for this reasons, it will not be safe to start this business digitally. Physical stores and physical renting is ideal for the Nigerian market at this time business in Nigeria this time.

On the other hand, the business of media renting is a nice business with great profit potential when undertaken well. The business has proved successful in foreign countries. The success of renting companies like Netflix, Bookswim.com, Campusbookrentals.com, Bookrenter.com, Blockbuster, etc further boosts my confidence that this is a gold mine that is being overlooked in Nigeria. However, I will choose not to adopt their style of online renting and processing because Nigeria does not yet have a robust and flexible online payment processing system for everybody, so going online for this business in Nigeria will amount to a wild goose chase and the number of potential customers that will be bypassed will not be good for business. The model of business is thus a physical oriented business for now and will remain so in the coming years, therefore I will concentrate my business physically now – where the market is – and grow from there.

Having considered all this, I will set off with the business with these strategies:

Branding
I will first have to find a name for the business for reference purposes. People usually attach some sort of sentiments to names so I would rather go for a catchy name that is easy to remember for example, names like Rentstuff, Media Gallery etc. A nice name will create some impression is always good for business.

Legalities
This is very important to this business considering the nature - intellectual properties. I will have to consult a lawyer to put me through on requirements and abiding by copyright laws and also obtaining appropriate license. I will not like to be regularly harassed or clamped down on by authorities.

Location
This is the heart of the business. A nice location will naturally mean good business. For this business, I will consider citing it around a populated university area for accessibility and visibility purposes. Guided by the consciousness that this is a new business model in my constituent and considering its nature, I will want to first create an awareness of the business easily before or instead of taking any unnecessary risk. So I will target a university area or a crowded area with some kind of student population to avoid opening an empty shop.

Items
I will start off with books, DVD and CD (games, computer software) renting. For books, I will be a bit bias for health and medical related books. I will buy more medical books because these books are costly (bigger profits) and whether they like it or not, medical students must read. So I will stock more of these books in my collection. Others will be popular and highly demanded books like Engineering Mathematics, passing JAMB/ WAEC/Post UME textbooks and past questions (Post Secondary Textbooks), varieties of professional books like ICAN past question collection and textbooks and a mix of motivational, lifestyle and literary books – I will grow this collection according to demands and impression. The collection of books will mostly be in heavy duty or hard bound so as to make it last.
DVDs and CDs will involve latest, new, interesting and popular movies and sitcoms – both foreign and local, video games (less of sports games since they are usually bought anyway), cartoons and varieties of computer software.

I would also consider renting projectors for seminars and events. Projectors are highly sought after so it will be nice to make some money from it - though I will start with one to gauge demands. Apart from renting, I will also make some consideration for selling some of these products. Since some people might end up wanting to buy the product, I should give them that opportunity. I will also sell some branded classroom items of the school like pen, event items, wristband, books etc – anything to get people in.

The Store
The store will be neatly arranged and classy with proper shelving and stacking. The arrangement will be done to allow proper ventilation. People should be able to walk freely in the store to select their items after dropping all bags by the entrance. I will put up related posters in strategic parts of the store to catch attention; although this will not be too much as is done by local movie renters. It should be made classy because people appreciate some level of class. Inventories of all books will be taken for easy accessibility. Generally, the store must look classy.

Staff
I will employ 2 staff for the business. One as the ‘corporate staff’ while the other casual staff. The casual staff will run errands, deliver books to the homes of customers who want their books delivered to them at an extra cost to them for transportation. I will put up a phone line where people can call and request for books and have them delivered to their home. The staff will also tidy the place – make sure books are clean and well covered.

Identification
There will not be any form of subscription for me – for profit sake. Strictly pay as you rent. Customers will write their names, address, phone numbers and will back up their claims with a collaborating means of identification like international passport, school id card or drivers license. The details of their rented material will be entered. All books will be stamped at the last three pages or middle page to avoid them from facing any sort of embarrassment by out rightly stamping first pages. They can write their names on the books with erasable and non distortable materials. This is psychological.

Publicity
This is what will make or break the business. Being a new business, I will spend some resources to create awareness. I will print different catchy posters and fliers with the massage and phone number spelled out and spread it around the community. I will erect some signs and displays to create proper awareness for the business. My strategy for posters will be in different varieties for example, for a poster in a medical school, I will use the cover of a popular textbook and it would scream ‘don’t buy this textbook!’ – gimmicks that will pull attention. I will also announce in forums, groups etc.

Plan and Pricing
Renting of books will span across semesters and periods. From one month, three months, one semester, a session etc for books while CDs, DVDs and projectors will be priced in days and probably months. I will also offer a slight discount for more items rented at same time as incentive. Prices will range from 40 to 70 percent of the sale price depending on the popularity and demand. Late fees will also apply and customers must agree to keep the book in good shape and abide by deadline.

Having put all these in place, the business should kick off healthily and running. From my estimation and arrangement, this wouldn’t take up a whole 1 million naira budget – rented shop: less than 100 thousand a year in my former school area or to be paid monthly, publicity: Less than 50,000, legal: Less than 50,000, items (I would prefer to mix the books to include used textbooks that are still in very good shape which is easily available and can be ordered online –textbooks.com, abebooks.com and new textbooks): this will take a bit of the remaining money and miscellaneous. My budget for items will be around 400 to 600 thousand including a projector.

After setting up the shop and starting the business with the ensuing profits, I will be aiming for expansion and replenishing the business – buying more highly demanded materials. I would like to open a subscription based library fully equipped and maybe go into part sales of these items. Get a bigger space and expand the business to include other related business ideas that the impact is elapsing Nigerians. There is no doubt the business will succeed because Nigerians will love any means that will get them their favorite materials close to their wallets and thus, they will really welcome this business model

- Emmanuel I, 3rd place winner.

Hmmmn. Nice!

Was gonna ask if you were satisfied or still hungry for more till i saw he was 3rd.

Thanks for sharing.

wtf!!!!! Damn, that was splendid. wow, so this competition produced this type of entry. The guy was on point. I wouldn't have given this away for 15k. obviously, I think his proposal will need a serious investment but it can still work small scale though. A very nice business plan and he gave out all details. I'm impressed and can only wonder what the next two will be like. Can we get the second? Give us the opportunity to compare the runner ups. we asked for second and third. Btw, I thought you said the #3rd was Emmanuel Promise? Now Emmanuel I? You might have to explain that.
Thank you, waiting for the second, let's assess your judgement

Thanks Seun for keeping your word

Just finished informing the people who wrote decent essays about e-book and DVD rental businesses (which I couldn't process) that they have won a consolation prize of 5,000 naira each. Once this is over, things can move forward with the winners.

I think the 3rd position did a good writeup and I quite appreciate that this is an essay and perhaps not a business plan, I do however feel the premise of the essay is totally missed. The Essay states "FOR PROFIT" Library Business essay but I fail to see any forecast profit analysis.

How did the writer come to the conclusion that a potential customer will be willing to rent a book at 40% - 70% of the cost price of a book (Survey or otherwise)? Also, how does the writer assume that this price point will just about make "PROFIT"?

One important point also missed out is how many books can be bought in the supposed 400k-600k budget, which determines the frequency of rentals and ultimately the size of revenue.

I fail to see analysis of running costs, overhead costs and all recurrent expenditure likely to push the business to it's breaking point.


Let me remind us all that this is the premise of the essay.

Let's say you were given 1 million naira to set up a profitable chain of shops where the great books, especially non-fiction books, can be borrowed by paying customers.  I'd like you to write an essay on how you would start such a business with just 1 million naira, and make it grow to a predominant position in Nigeria with no additional funding.


I would want to believe that that winner and runner-up of the competition included all these seemingly important details.   


Can Seun confirm this?

haha, @nateevs, let it go! Winners has already bn announced. No more stress to it again, make seun rest with qstn answering.

Ok, I just went thru the essay again for the benefit of doubt and I can say @nateevs is reaching. You sound like you are bitter. That was what what ve been noticing from you this post essay period.
You now see people are no longer taking you serious.
You clearly pointed this out among the premise of the competition
'I'd like you to write an 'essay' on how you would start such a business, '
Now, seun asked for an essay not a business plan, he also said he'd prefer and essay to a businessplan.
Talking about profits, are you serious? So you expect the writer to know how much profit he will make already? I keep telling you, you must be nostrademus. The business will generally produce profits and I deduce that was the mindset of the writer. Talking about renting a book, the writer, I see put up websites of the same business pattern and I think they are making profits and people are renting above the rate.

I will be the first to criticize but this here, I think is a master piece, what I thought you should be critizing the writer for is the start up capital. This is something that needs serious investment. Not just a million. Nigeria needs this business. Projector, games, books. The target market he proposed is classic. The economy is bad and people will embrace an ease of burden. Don't be surprised if this stuff get hijacked soon enough while you criticize. All business plans are geared for profits and the writer worked with that in mind. How would he know the amount of profit he would be making when it has not started looool,  You clearly no have point. Seriously. I like this stuff and am waiting for another person to come on and criticize it. You don't know what you are saying. I never knew you would participate anyways,  Lol.
Btw, Where are the phcking winners? Only seen 1
Seun please we are waiting for the second entry!!!!!!!!!!!!!!! Or is it the business?

You guys don't know it but I am the secret judge. . . 
You still think I joined the essay. I did not dude.
If I did, Seun will ask for my number.

,
You keep generating controversies, Lol

Mr. Globe:

,
You keep generating controversies,  Lol

My DNA is built to find holes. . . That's what I do for a living.
And I find holes in everything, especially in business.

Seun, are u going to show us the 2nd winner or should we stop expecting it?

^ I don't know why he is delaying. Post this stuff when we can still see it and end this thread!!!!!!!!!!!!!!!!!!!!

Got rewarded N5,000 for participating in the competition. thanks alot mr seun.

here is what i submitted


For-Profit Library (Media Rental) Business Strategy Essay Contest
If I was given a million naira to start a media rental service of books, DVDs, CDs and any other types of media I would first of all sign an agreement with World Education Resources Center. This would provide me with rich content that offers the world’s biggest warehouse of multi-media learning-knowledge tools constantly expanding and currently giving access to amongst others over 1,260 Educational games, 500 topics math practice interactive tool, physics simulations interactive tools, creativity and arts tools. It also offers 500,000 ebooks for all ages, 12,000 children ebooks, 6,000 teacher ebooks , 1,000 parents ebooks and also 24 hours a day online education counseling.
The product is sold as a scratch card with a pin and this would give students unrestricted access to this famous and resourceful e-learning portal for one year. The good news is there is NO partnership fee. All that is required is 20% of sale should be given to a reputable charity. An Example of this kind of partnership can be seen with zinox card and world education resource center. [You can visit (http://ebookscard.org/index.php) and (www.zinoxcard.com) for more information]
The portal we will set up will also contain local content and this will make what we are offering different from others. Through the portal, people can buy and borrow books, DVDs, CDs etc
A partnership with local content providers will be made to have their books, DVDs, CDs available via this medium. DVDs and CD’s can be transported via a cheap and reliable courier firm to deliver the item to the door step of the customer at an additional fee (N350 for delivery). For example if a customer sees a DVD he/she is interested in, he can place an order to have it delivered to his/her home. This can be achieved by the customer using his/her ATM card to pay/rent for books, CD’s/ DVDs
The age of going to Ikeja under bridge to find a CD or a book you like is over. You can now place your order via our portal and have it delivered to your doorstep
Imagine a portal where local authors, movie producers, writers artiest, students/teachers can upload their works for paying customers to view and buy online if they like it and have the item delivered to their doorstep. It would be really amazing.

MARKETING
Making the product popular is important if we want to be profitable. The following are ways we intend to boost awareness as well as increase revenue.
1. Nursery, Primary and Secondary school: - we intend to market the product to schools and convince them to include it as part of the item they pay for when they pay for books. This would boost the demand for our product. Imagine have 5 schools in each state supplying our product to their students every year (N18, 000,000). This certainly would have a positive effect on our revenue. This move would also get the attention of parents who certainly would enquiry about our product and with the rich local content, 500,000 eBooks and other educational resources they would be played to use and recommend our product to their friends and colleagues.

2. Partnership with government: - If we can get a contract to supply our product to government schools in Nigeria or within a state, this would also have a tremendous boost on our revenue as well. The government spends 5% of its GDP on education annually, if we can seal a deal with them with the right connections, we can make a killing!!!


The marketing strategy stated above would create membership; increase our revenue and our popularity. The next step would be getting local content to the portal. We can do this effectively by giving content providers a higher margin than they get from the market. Another method would be buying the rights to put a particular content for sale and would be available only through our portal. To visualize the effect of this, imagine our portal having exclusive rights to sale/lend the latest Wole Soyinka novel or play to Africa or even worldwide.
Imagine having exclusive rights to sale/lend a famous pastor’s book in Nigeria via our portal. I’m sure our servers would experience the same thing that happened to Research in motion (RIM).

The beauty about this business or idea is that the startup capital is low. To kick off, we need to have content and the first phrase is available for free via the partnership with World Education Resources Center. This platform would give us over 500,000 eBooks and would save us the time to gather content together while we generate revenue via sales of the scratch card to access our portal.
The second phrase would be marketing to schools about the benefit of giving our product to their students and if we can get 5 schools in each state to sign up for this that’s 18 million naira generated. The platform would also give us the capability to sale advert spaces on the portal and much more. This idea certainly has a huge way of generating revenue with minimal cost incurred. The major expenditure is in printing of the scratch card. 2,500 cards would cost about N750, 000. Printing of 20,000 cards can be done in a day so even if we have a huge order from the Federal Government for example, we can easily overcome that challenge.
In order to promote our media rental service, we need to dangle a carrot to customers. The scratch card which offers over 500,000 eBooks is the attractive carrot in this case. Collaboration with schools with scratch card will not only bring more profit to the firm but also it would promote our media rental business as well. We will be able to get students and parents to recognize and use our product via the scratch card. Partnership with content providers such as students, teachers, authors etc would make their work available for sale/rent to millions of students across Nigeria.

BAM! Now this is what I call a creative mind. Very innovative and futuristic and has 'huge potential' of sustainability.

Now don't get me wrong, a few of the things he has written may be far fetched.

For example:

* Underestimating the costs of storage and delivery of Ebooks. . . Serious Encryption Services have to run with Ebooks sales and delivery and they don't come cheap. And the storage of online content requires top notch network security which don't come cheap either.

* The assumption of a hitch-free postal system in Nigeria.

* A few assumptions here and there on figures.


That said, in terms of rawness of ideas and creativity, I am rating this dude. Why? Because he focuses on reachability, cutting the sometimes overwhelming costs of staff, and physical items and all other running and recurrent expenditure involved in running a chain of stores. Now he doesn't just focus on e-books, he brings the physical book into an online portal. He highlights, ease of registration and hints on ideas on creatively relating with and retaining customers.

The same model will and can work with DVDs, CDs as he stated. And apart from seeing your potential customers in person, I fail to see the significant advantage of a physical store. Some may say "It's a Library and people will go there to read" but you need a big enough space to let people come in and read in the first place. Add to that, the cost of furniture, electricity, staff, decoration, security and you are already running into millions and only one one store. . You need ample space to appeal to a large section of the public.

His model however is not bound by space limitation and a narrow target market. In-fact it will work across all target markets as long as you can stock those books.

I like his idea of customers paying to have the books,DVDs and CDs delivered to them which in many cases is just about how much many customers will pay to reach that 'single' physical store except, in this case, they don't leave their homes.

I liked his integration of local content which will form the crux of rentals in the first place. He creatively also discusses the idea of incentive to the local content copyright holder - although he doesn't inform us how this is fiscally possible.

He makes an effort to discuss potential revenue. He could not have been spot on but he realizes a need to touch it.

Above all, the implementation of scratch cards to access Ebooks is genius. I know he didn't develop it but he is informative enough to know where it applies. . He even goes ahead and uses that as an advertising avenue to market other products - DVDs, CDs.

Finally he is bright enough to know that a portal that has the potential to attract lots of traffic is an avenue to generate some targeted advertising revenue.


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Yes he may not been as coherent and many of his ideas are still rough around the edges and need a lot of refinement, this is my opinion is a much better post, in terms of creativity, than the fella in 3rd. This dude is the sort of mind I like to work with.

Kudos Mr Spotless. Anyway we can meet?

^ You are a piece of s.h1.t! Now I saw this post before you and refused commenting because I don't want to criticize the writer and run him down. If this is what you mean is good business plan, you need to check yourself into a nearest psychiatry. First, this business is first and foremost bound to fail from the scratch. I lost interest halfway through the write up, because it came to me as an article not an essay, the writer failed to own the business. he was given us instances that cannot apply to Nigeria. I don't know, but you must be very dull for comparing the 3rd and this. There was no research, all I see was saying they will get 18 million from 1 million smh. This is funny. Nairaland I think is rated the second most popular and used website in Nigeria and about 60 percent (or slightly less) of the people who bring this Traffic are Nigerians based abroad. How can the Nigerian youth that cannot assess the internet even understand what you are talking about? Will you buy computers for the potential customers who don't have a computer in their schools, will you get and subscribe an internet for them to keep them connected? You would have even made a little sense if you used phone instead. Nateeves, you have disgraced yourself enough. i thought you are even into business in the first place and I was going into a back and forth with you. I mean, this would not even work in America talk more of Nigeria. The writer seriously lost focus of a profitable and self sustaining business. what if the school refuses to accept the offer which of course they won't? what if the government refuses to accept the offer or even if they do, some corrupt individuals will ask for bribe from the capital to even contact the government, is the business feasible? Does it have a skeleton? So if I give you a million, this is how you will use it? It is very incoherent. Am sorry to the writer for being this critical, but i need to put these things straight. You can't compare apple and oranges and Nateevs is the kind of person that will encourage you when you fail in school and tell you its nothing. But all the same you got your cash, so you can always improve but am not with that at all. This wouldn't be hard to decide.
Seun post the second entry now, nawa o, and other winners please post yourstuffs, don't worry, if its good, I will tell you its good.
PS: @nateevs don't even reply, you have lost your points. go get a paid job. run from business.

Mr Globe thanks for the review and no offense taken.

the thinking process of everyone is different. (waiting for nateevs reply, lol, i have a feeling its going to be explosive, lmao, )

but i dont think seun will post the 2nd place essay because he paid 30k to the person. this is an idea he is trying to pursue and its going to be unfair for him to just give it up like that. maybe you should consider paying seun to release the essay to you if you really want it or organise your own competition.

Dude thanks for understanding. No animosity whatsoever but to me it doesn't cut it. I just think you didnt invest much into it. Nobody is scared of nateves.
Thanks