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The Planning

posted 25 Oct 2015, 21:07 by Nikhil Venkatesh   [ updated 7 Nov 2015, 08:30 by Lakhotia Suyash ]
As customary with any startup, we made our first business plan in the past two weeks. Contents of these are spread throughout this site. We are done with our business presentation for the module as well. We were quite happy with the outcome of the presentation after putting so much effort into getting it right. We hope we answered the questions a lot of skeptics in the audience had about our business idea and clearly laid out what we hope to achieve - a movement.

Mr. Roderick suggested some interesting ideas that could be vital for our sustenance. His suggestions were as follows:
- Implement a review system with partial refund for poor reviews of hosts.
- Look for departments in the Government or NTU that look to support such ventures.
- Source your first hosts to start off on trips, preferably look for hosts with cars.

It was interesting to read up on the feedback from other students as well. Most of them addressed the issue of not getting enough NTU members onto the platform, which we have taken into serious consideration.

We have one more issue to flag which is setting up our company as a LLP. Currently, only 2 of the cofounders are SIngPass holders. We asked Mr. Roderick about the same and he gave us two options to proceed from here, going through an agency or setting it up with 2 locals and then have an external shareholders' agreement for the LLP.

We are going to meet up soon to discuss all these issues, look into suggestions and come up with our next steps forward. That's pretty much it for now. Until next time!