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Business Model for PersonalFinance2.01
9 September 2007
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India’s first online weekly on personal finance has it’s genesis in the passion to inform and share knowledge. But we also want it to be done in the most professional manner. So we built this business model for ourselves. Take a look and tell us where we can improve.
1.0 Executive Summary:PersonalFinance2.01 is
India’s first online weekly on personal finance. It will be an information and aggregator site on the subject of personal finance in
India. In other words, the site organizes information on personal finance in
India.
1.1 Objectives:The simple objective of this site is to organize information on personal finance with an Indian perspective1.2
Mission:To increase the financial awareness levels of Indians at all levels.2.0 Company SummaryThe why, what and when of this site is as under:WhyAll of us can do well to improve our financial awareness levels. In
India, we have a long way to go. We buy insurance as an investment product. Less than 2% of our earning members participate in the mutual funds or stocks.What The simple objective of this site is to organize information on personal finance with an Indian perspective. Consequently if there is an increase in financial awareness and helps in taking better financial decisions, so be it. We have sections on financial literacy, all financial products, a directory for financial advisors and a forum for discussing personal financeWhen We started the first update on August 7, 2007.3.0 Products and Services The site is an information site and there are no products and services other than information. However Forum, Feeds and the Directory could possibly be clubbed under information services. Various sections on Mutual Funds, Insurance, Stocks, Bonds, ETF, etc could be clubbed as information products. And we don’t know how to classify Interviews, Editor’s choice and financial literacy articles4.0 Market Analysis Summary The big daddies of the internet like Yahoo and Rediff have a presence on the topic of personal finance. Their content is provided by some very professional sites/companies like PersonalFn and MoneyControl.Other sites active on this topic are
MyIris, India InfolineHowever a search on “personal finance
India weekly” throws up our site as the first search result!The most important question to ask is “What this site offers to survive in the web sphere where such big daddies/players are active?” However Big daddy sites do not necessarily provide better user experience. 5.0 Strategy and Implementation Summary Our uniqueness lies in us being an online weekly and we can build on that difference by becoming a preferred site because of our passion for financial literacy and a warm, personal touch. The USP of this site will be “one stop personal finance site with better user experience”An action plan to market the site and to increase the traffic is as under:Ø Financial Literacy workshops and seminars at · Corporate Offices· Schools and Colleges· Professional Colleges· Cooperative societiesØ Advertising with BloggersØ Media exerciseØ Posters, pamphlets and bannersØ Inviting free registrations on our directory for financial advisors
6.0 Personnel Plan We need not more than 10 people passionate about the project and divided into three skill setsØ Content Champions: One more guy other than me would be enoughØ Marketing Champions: Two-three peopleØ Support Champions: Two-three people
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