* Your team member names
Yerzhan Konysbayev, Mohammed Zulkernine
* What the business will be doing/selling (be as specific as possible)
We will start doing online business. Specifically, we want to open online store like “Amazon”. It will be a stockless business. That means we don’t have to maintain inventory. So the money involvement will be lower. We will provide all kinds of products like “Amazon” does. The format of the website will be the same, that is, list of products from different manufacturers and traders will be offered.
* Where will the new business be located (anywhere but the US)?
We will start the business in Kazakhstan and Bangladesh. These are developing countries that are experiencing economy growth and the online shopping demand will grow day by day.
* Are there existing businesses like yours already? How will you set yourself apart?
There are existing businesses like ours already. However, they are small and don’t provide varieties of product and they just allow people to upload information and sell their product. On the other hand our plan is to list different kinds of products which are manufactured locally and internationally and sell them online. We will develop our site as if we will be online dealer to sell other traders product easily. So our product variety will be much better.
* What do you think is the biggest challenge you will face in getting this business started?
As these two countries are developing countries online transaction is not that much popular compare to the developed countries. People are sometimes scared to buy online products because they don’t feel safe and don't have much experience buying stuff online. This will be the biggest challenge which will harm our revenue in the beginning. We will probably need to wait some time until people get used to it.
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