Entrepreneurship Assignment 2

ENTREPRENEURSHIP
UNIVERSITY OF CENTRAL PUNJAB
ASSIGNMENT
2
SECTION
SUBJECT
ENTREPRENEURSHIP
SUBMITTED BY
MUZAMMIL MASOOD L1F18BBAM0524
SUBMITTED TO
MAM SIDRA NASREEM
SUBMISSION DATE
17-04-2021
pg. 1
ENTREPRENEURSHIP
Let’s connect digitally (LCD)
Introduction
The New idea as an entrepreneur is Building or creating an app in 3 app stores. Well As
an entrepreneur creating something new and unique in market to increase the need of
market. I wanted to create an app which is called let’s connect digitally (LCD). With the
help of this app people don’t want to go in different apps for buying things. Creating this
app in the market is an opportunity because this app allows everyone to search of their
liked brand and can shop through online. There’s a search engine in the app people can
search any brand and can buy the products not only buying they can also get discounts.
One thing is pretty unique in this app that people or customers can rent anything like
renting a pet for few months, furniture and basic essentials. This app work similar to olx
and daraz but LCD is better then that apps because these apps don’t provide renting for
few months or years in fact if anyone book the order through this app, they can crack the
order through location. Launchings LCD in three app stores is a challenging for us or me
because it required lots of financials. As an entrepreneur my aim is to launch the app in
play store (Android), HUAWEI App gallery and apple play store.
Benefits
The main benefit of this app that it’s so relaxing like different apps people find
difficulties by using the apps but LCD comes with a simple style which make the app
unique. In the situation of covid-19 many markets closed due to spread of virus people
find difficulty to buying product specially renting something like dogs, cats even renting
a car but this app make everything easy.
LCD provides an accessible platform for general consumers to buy and sell items and
services, and organize community activities.
Its accessibility and ease of use, with the Company providing a user friendly and flexible
experience that can be access either through mobile application.
Its broad range of product categories, with the Company enabling consumers to sell a
range of products, including electronics, clothes, furniture, cars, Renting pets and home
appliances.
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ENTREPRENEURSHIP
Feasibility Analysis
Feasibility analysis is the process of determine whether the business idea is worth
pursuing or not in easy words the idea is good or bad.
Well, there are 4 forms of feasibility Analysis which are written below
1) Product / service feasibility
2) Industry / Target market feasibility
3) Organizational feasibility
4) Financial Feasibility
1) Product / Service Feasibility

Product and service feasibility further includes in to two parts first is product/ service
desirability it means that you are hopeful of that thing. Let’s connect digitally (LCD) is
created to fulfil the desirability of the customers because many peoples or customers
believes or think that shopping with help of mobile will required a lot of storage memory
because if you want to buy something you need to order and download that particular
brand app but LCD makes everything easy because its purpose to connect with different
brands at same time without the need for the other brand application. Second Product /
service demand its means demand of something in market yes there is a big demand in
market like online shopping because of covid-19 after sometimes many apps launched to
do online trade keeping them in my mind, I did research on that and wanted to launch that
app because it will definitely gather the audience because of the features which is not yet
provided by anyone yet.
2) Industry / Target Market Feasibility
Industry/target market feasibility is an evaluation of the overall appeal of the industry and
the target market for the proposed business. The target market of let’s connect digitally
(LCD) is considered to those people or class who is familiar to mobile. In easy words
those peoples who have some knowledge of mobile and have touch mobile. In LCD class
doesn’t matters because in my app everything is available class by class. Students,
Mature, Married Un- Married and Old age everyone can use this app.
3) Organizational Feasibility
Organizational feasibility conducted to determine whether a proposed business has
sufficient management expertise, organizational competence, and resources to
successfully launch a business.
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ENTREPRENEURSHIP
There are two components of organizational feasibility

 Management Prowess
 Resource sufficiency
Management Prowess
LCD is secure app which is build similar to olx and daraz app like it is fully secured
question may be raised that if we used that app our data or given information and address
will be secured like someone leak that information But As an entrepreneur lets connect
digitally apps is focused on efficiency providing customers satisfaction with full secure
network so in the end our team is well organized and ready to deal with the customers.
Resource Efficiency
There are some resources which are important for LCD to moved forward firstly it
required an Affordable office space for the developers and tech essentials computers.
Secondly skilled software workers required for building the app and create an update
after every few days so that customer will get more satisfaction.
4) Financial Feasibility
There are three components of financial feasibility
 Total Start-up cash needed
 Financial performance of similar business
 Overall Financial Attractiveness of the Proposed Venture
Let’s connect digitally (LCD) needs a budget of approximately around 80,000 to 100,000
dollars for building the app but as an entrepreneur managing such big amount for me is
not possible for me but I get that cash that will going to pay back cash in more money.
Bank Loan
After the idea and analysis of my idea I will send feasibility analysis report to bank for
loan to operate and build that app
Reference
Nothing is copy paste from internet I gather some ideas through these websites.
 https://digitalcommons.uri.edu/oa_diss/625/
 https://www.cleverism.com/company/olx/
pg. 4
ENTREPRENEURSHIP
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ENTREPRENEURSHIP

UNIVERSITY OF CENTRAL PUNJAB

MUZAMMIL MASOOD L1F18BBAM0524

MAM SIDRA NASREEM

Let’s connect digitally (LCD)

1) Product / Service Feasibility

There are two components of organizational feasibility

 Total Start-up cash needed

 Financial performance of similar business

 Overall Financial Attractiveness of the Proposed Venture

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