Norudictio

Business Plan | August Norup

Executive Summary

At Norudictio, we are creating the dictionary that evolves with the future
because older generations are being left out.
The modern dictionary will be available as an ebook, an app, and, eventually, in
print.
Our Magazine will add value by providing insights into language development.
The E-Books and App are targeted at 20-60 year olds, the magazines at 18-40 year
olds and the print books at 60+ year olds.
Based on our competitor analysis we expect Merriam-Webster to be our fiercest
competitor.
Based on the SWOT analysis, it is clear that Norudictio needs to stay innovative
and fast moving, whilst still focusing on quality.
Key elements of the Marketing Plan are: Online advertisement, Free chapters
available for download, Magazine give-aways, Social Media campaign, Cowritten scientific articles in general media. Medium term, we will develop an app.
The Sales Plan will focus on: Online sales on own web-site, Established e-book
retailers (Amazon, Apple iTunes store, Kobo, etc.). Long term we expect to ad
Magazine and print versions in mainstream book store chains and supermarkets
Limited focus on logistics, as focus is on e-books and we will use print-ondemand services.
The key factor for success and our main challenge will be to ensure that our
product stays up-to-date while we continue to deliver consistent high quality.
We are a team of recent university graduates, currently working in full time jobs
at different companies, who hope that we will be able to someday work full time
for our business.
Our business will be profitable by mid 2018.

Norudictio Business Plan | August Norup

Products and Service

The main Goal of Norudictio is to provide everyone with the necessary
knowledge of modern day Language. We do this in different ways, by selling
dictionaries in both print and e-book formats. We at Norudictio believe that
with Language permanently evolving, too many dictionaries do not focus on new
words and the increased use of modern abbreviations and acronyms. Therefore,
we have decided to focus on this area and make sure that everyone who wants to
stay up to date can do that.

We have already designed a prototype e-book version of our product. The
feedback we have received so far has been very positive. We hope to finish a first
version for release, within six months. We also have an app in development.
Printed versions of the dictionary will be available on demand for those who
prefer to have a real book in their hands.

The app and e-book versions will be updated regularly for those who subscribe
to our services. To keep people even more up to date, our vision for the future is
to create a magazine that will be released bimonthly. This magazine will focus on
language development by having articles about recent changes as well as general
news about languages, written by experts in their fields.

The E-Books and App are targeted at 20-60 year olds, the magazines at 18-40
year olds and the print books at 60+ year olds.

We at Norudictio are a small team of five people who have all studied language
related majors and are enthusiastic about what we are doing. We work hard, but
we expect to increase manpower in the coming years. Initially by hiring students,
who are in touch with the latest developments in urban language. In the long run,
we expect to be able hire people young graduates who share our vision and want
to dedicate themselves to it.

Printing will be on-demand or outsourced to large print companies short term.
Depending on demand for our printed versions, we will consider investing in
own printing facilities long term. We expect to outsource our accounting and
legal tasks.

Norudictio Business Plan | August Norup

Market Analysis

Competitor Analysis:

Company:
Oxford University
Press

Strengths:
Good Reputation, High
Quality, Long history,
Worldwide usage

Cambridge University
Press

High Quality, Very Long

History

Merriam-Webster

High Quality, Long

History, Well known in
America, More modern
Very modern, Almost
immediate updates

Urban Dictionary

Weaknesses:
Slow update process,
High expectations,
Overlooks modern
opportunities
Very slow update
process, Less known than
oxford, Only commonly
used in the UK
Not very well known
outside of America
Is a wiki (anyone can
change content), Not
professional, only online

Implications of Competitor Analysis:
From the competitor analysis we expect that the main competitor will be
Merriam-Webster. They operate with similar traits to those we aspire to have:
High Quality and Modern approach. What makes Norudictio stand apart from
Merriam-Webster is that we do not only operate in America, but since our
Headquarters will be in the UK, we will focus on expanding there. We do not
consider Urban Dictionary a major threat as their unprofessional content will
stand no chance next to our quality products, furthermore Urban Dictionary is
only accessible through the Internet.

Costumers Needs:
Based on market analysis we have done through surveying a part of our target
market, we established that people above the age of 45 still want to see print
versions of our Dictionary. (see graph below)

Norudictio Business Plan | August Norup

SWOT:




Inexperienced in
Innovative

the business
Open minded

world
We have energy

Lack of contacts to
and will to work

press companies
Thorough

knowledge on

the subject






First mover
Larger dictionary

Innovative
companies may

approach to teach
develop interest in

older generations
area

Online versions at
People might be to

low cost
lazy and only use

internet (urban

dictionary, etc.)




Based on the presented SWOT diagram it is clear that Norudictio needs to stay
innovative and fast moving, whilst still focusing on quality, so that we can outdo
both large threats as well as small ones.

Market shares:
Once Norudictio had been established as a company, we hope to be able to buy
market information from data collected by Nielsen Book Scan. Nielsen Book Scan
is a company that measures and analyses sales and consumer behaviour around
the world in the market of books.

Norudictio Business Plan | August Norup

Strategy and Implementation

Marketing Plan:
Our plan for Norudictio will be to spend money on advertising in the first year
to get our name out to the public. This will be done through magazine give-aways
as well as online advertisement, a social media campaign, and co-written
scientific articles in general media and free trials for our App and E-books.

Sales Plan:
Since our products for the first year will be mainly the E-book and the App our
sales plan for the first few years is to get our products to as many online retailers
as possible. We will focus in the beginning of course on shops like: Amazon
(Kindle), Apple (iTunes store, App store), Android (Google Play store), Kobo, etc.
Long term we hope that our print book will be sold in any book store, the same
goes for the magazine, though we also hope to sell these in supermarkets, etc. to
reach a wider audience.

Logistics Plan:
Initially our Logistics plan will not be very advanced since our sales will happen
online via channels stated above. As we start printing in the future a more
advanced business will be needed and this will be prepared in Q4 of 2016.

Key success factors:
For the success of Norudictio there are some factors that need to succeed. We
want to ensure a high product quality; this is needed since it is the one of the few
things that sets us apart from fast-moving, online dictionaries like Urban
Dictionary. Fast expansion as well as adaption; this is needed since it will
differentiate us from big companies like oxford university press, etc. We also
need a bank loan to succeed since without it there is no chance that we will be
able to advertise our product enough, to reach and attract costumers.

Challenges:
It will be a challenge to ensure that our product stays up-to-date as well as
keeping the standard high, however, we believe that we can do that. A challenge
that might present itself is that it might be harder to reach older targets as they
are very limited to the amount of advertisement they get online. Further, our
company lacks close contacts to important people in the media and press world,
which might present itself to be a problem, however, we do believe that we can
create this network on our way to becoming a big and successful company.

Norudictio Business Plan | August Norup

Company and Management

CEO August
Norup
Chief of staff
Andrea Raguso
Marketing VP
Ronja Rohrer

Sales VP
Marina Horber

Finance &
Logistics VP
Stefano Wirth

We are a team of University graduates, currently working in full time jobs at
different companies, who hope that we will be able to someday work full time for
our business.

To keep our dictionaries in all the different formats up to date and stay on top of
development of urban language we will take on students part time. We also
hope to expand this to full time employees in the future. At the moment we are
all working from home offices but with the future we hope to move into office
facilities, which would make working conditions as well as productivity a lot
better. This would also require the hiring of cleaning staff. If printing facilities
are built in the future we will also need to hire labour to run these.

The business has not been registered yet.

Norudictio Business Plan | August Norup

Financial Plan

The Assumptions for the Profit and Loss table in terms of Volume and Cost are given
in the table below:

2016
2017
2018
No. Sold e-books
200
2000
5000
No. Free e-books
1000
500
200
Total e-books
1200
2500
5200
Price/book in SGD
9.99
9.99
9.99
Cost/book in SGD (20%)
2.00
2.00
2.00
Contribution/book in SGD
7.99
7.99
7.99

Profit and Loss:

SGD
2016
2017
2018
Sales
1998
19980
49950
Cost of goods sold
400
3996
9990
Contribution
1598
15984
39960
Free samples
1998
999
400
Advertising
5000
15000
10000
Sales Costs
0
0
3000
Salaries
0
0
0
Office Costs
4000
1000
500
Total costs
10998
16999
13900
Profit
-9400
-1015
26060

Norudictio is currently working towards getting a business loan of 15000 SGD.
We would be able to pay back the full amount of this loan by 2018.