Question

1) “Big problems, big opportunities; small problems, small opportunities.” Now it is your turn to identify some problems you encounter in your job or daily life and think about whether you may solve them by developing a new product or service. Please also think about how your solution(s) may take advantage of trends in economic, social, technological and political sectors.

2) Spend some time studying Yammer (www.yammer.com) which is an enterprise social network. Please share with the class your opinion regarding the basis of Yammer’s business opportunity.

Is it attractive?

Is it valuable?

Does it present a timely opportunity?

Is it durable?

PS: Please give detailed answer.

Answer 1

Big problems, big opportunities; small problems, small opportunities.

“A problem is a chance for you to do your best”. Bigger the problem is the best you can give.It just the way you think of the problem. There will be many situations when all of a sudden an unexpected problem stops you dead in your tracks and that one seems impossible to solve but the way you engage with the problem to solve will surely enhance your ability to deal and achieve the success.

Two year back our company switch its operation and come up with a new niche product in market. Running a niche business is quite a big and challenging task because you don’t have all essential business operations knowledge, experts, work force, or brain power.Entering in that market was completely unknown to us was quite challenging specially the case when customers are very fond of international Brands and lacks faith in new products. The challenges we faced and conquer

Managing Money

Entering into a nice market with unique product requires lots of Research and development expenses that simply add in all expenses and subtracting the total from all earnings. To avoid money mishaps in business, we need to keep accurate accounts of every single thing that goes in and out the business accounts. From order, pre-orders, refunds, payroll, marketing budget, loans, payments, supply costs, software subscriptions etc. We have powerful accounting program and skilled accountant to decide what will best fit our needs and finding funds to expand and market our product.

Finding New opportunities for Growth

We are constantly look-out for new opportunities, associations and technological partnership to grow our business. Through marketing ideas, networking events, conference presentations like opportunities.com and using social media platforms like linkedIn, Facebook, Youtube videos,New quotes, E-mailers, fundraising websites like Indiegogo and Rockethub we achieve investors eye. We constantly hunt for inversters by presenting in Angelinverstors kind of communities. It’s important to keep opportunities that you could inspire growth coming into the flow of your business.

Think of Gaining Visibility

You should have a beautiful and functional website that shows the world who you are and what you’ve got! . so that client can easily find your business online and understand how you can help them. You should have a quality content in your website to impress the visitors at first site and also have easy map locator and contact deatils to connect with you.

Client Satisfaction

A happy client bring you more business to you.A happy client will always help you in his own best way but you have to ask that from him. Take repeated reviews for your product, that will help us to upgrade our services and product to next level.You have to be proactive in this case customer will not come to you to tell you.Always send emails at the end of every contract, sale, or collaboration to keep new client opportunities flowing into your business and make sure your Emails are professional and have proper catchy signature.

Analyzing the Competition

Without a competitive analysis, you’re selling in the dark.To avoid such disaster, set some time aside in your business planning to analyse what your competitors are doing and, most importantly, how your business is performing in the market.Try to discover who’s buying from your competitors and Why?

Hiring Right Experts

The lack of expert advice and execution can become a great obstacle in running a business profitably. A right expert will help you in posts on social media for attracting new customer or come up with a strategy to grow your business profitably.He will help in social media postings, designing graphic assets and branding, creating and attractive website, effective emails that produce more sales.

Regulations

Before entering to any country this is the biggest huddle you have to cross. You have to take all the compliances, quality measurement in your account before expanding

We have solve these huddles and converted Big problem into big opportunity now our product is only second in world market o its own kind. We are now entered in USA,UK,5 Middle east countries,Maxico,India,Pakistan and 16 countries. We have marked our presence in just 2 years.

2)

File sharing, communication, collaboration, organization. It is a terrific combination of virtual office tools plus can serve as a centre point of contact and communication and can help your teams at different locations to collaborate.

I am impressed with the idea of Business Facebook, it can act as local or private Facebook kind of social networking site with all feats of pic uploading, chat, and micro-blogging,notifications, private messages, tagging, and groups

Is it attractive?

Yes I found yammer attractive in user friendly UI just like Facebook but different in its own way.like file and Notes tab along with conversation. Data centralisation , Mining and analytics.

Advance search feature within a department. Post a Poll,Praise someone Ask a question events and announcements. Pin content to Network and group is unique.

Is it valuable?

Surely it is because it brings small, mid-sized, and large teams together, boost collaborations, an open platform for brainstorming and creative ideas, triggers intelligent business solutions, saves time. It also also evaluates information, and uses a robust set of analytic tools to pull off reports based on it.

Does it present a timely opportunity?

Yes it is timely oppertunity. Enterprises have diverse wants and requirements and no software platform can be just right in such a scenario. There is no ideal out-of-the-box software product that meets all business needs. Companies have to customise the solution for their unique wants.

Is it durable?

Ince Yammer is now a part of the Office 365 package, and its REST APIs can therefore be used to integrate it with multiple Office Platforms and third-party apps like

SharePoint,Zapier,Slack,Zendesk,GoodData,Smarsh,Bagdeville,Hype,Buzztale,Hootsuite,Mindflash,Office Vibe I think yammer is durable.