Business Skills and Creative Entrepreneurship Final Report

*Dedicated to the memory of Leslie Jo Spiess

t c 2021

BUSINESS SKILLS AND CREATIVE ENTREPRENEURSHIP COURSE

SUMMATIVE ASSESSMENT REPORT ASSIGNMENT

LIBBY ANSON TUTOR

DATE DUE

STUDENT’S NAME #

APR 28

USE 19106807 CHLOE E. SPIESS D C A GOO

JUL 27

CHLOE E. SPIESS

19106807

table of contents Quick sheet

4

Executive summary

5

Products

6

Research

9

Finances

14

Conclusion

17

Bibliography

18

Appendices

24

• slides • journal

Quick Facts

Stamp’d Custom Product & Small Library Business Solutions

Business Identity Stamp’d produces custom book-stamps and provides a connected digital platform for library cataloguing, inventory, and customer reviewing.

Target Market Target markets are tech-savvy bookworms and small private libraries.

Competition Custom book stamps, online book reviewing services, and library software platforms are fairly common, but combining all three with a local based community is less common. Large international online reviewing servers such as Amazon and Goodreads.

Smaller online library software companies.

Marketing Strategy Stamp’d will interact with customers through relational social media: Instagram and Facebook, direct communication: email, and fliers in bookstores and small libraries.

Key Roles As a small business start-up, the sole team member is the founder, Chloe Spiess. With business expansion, Stamp’d will search for a part time IT support employee.

Milestones Stamp’d produces custom book-stamps and provides a connected digital platform for library cataloguing, inventory, and customer reviewing.

4

Problem 1000’s of books go into the landfill each year. Small libraries struggle with reader engagement and organization. Readers want to mark their books in a stylish way that links to reviews.

Our Solution Our hand-finished reclaimed wood and natural rubber stamps encourage reader engagement with reading materials and community. Our online platform efficiently helps libraries to manage connections with customers and inventory

Revenue Streams Stamp’d will sells its products online from its website. It will also sell its small library organization service through a yearly subscription.

Primary Expenses • Materials for stamps: Wood, rubber, glue • Machine maintenance • Digital platform IT service • Shipping costs • Workshop rental

Target Customers The focus market for the stamps and services is two-fold: individual readers, and small private libraries.

Individual Readers such as I enjoy leaving notes on books for the next reader to find, and the QR code function allows these notes and reviews to be passed to the next reader without marring the book.

Small private libraries looking to boost reader engagement can use the QR code located in each book to connect library patrons with resources, local reviews, and book clubs.

Future of the Company Although the reviewing market is full of large competitors such as Amazon and Goodreads, we believe that a local, community focused approach combined with a physical product will help us to stand out.

Our goal is to start small and work with small local libraries and bookstores in Glasgow to build connection and efficiency.

Google Earth image of Glasgow with Bookstores hightlighted

Executive Summary

Mission Stamp’d aims to reduce book waste and boost reader engagement.

We offer handcrafted book stamps that allow readers to leave their mark on the books they love while connecting them with an interestbased online community. Stamp’d also provides services for small libraries.

Company Structure Stamp’d LLC. is a sole proprietorship founded in 2021 and is based in Glasgow. Chloe has experience working in university fabrication labs in the United States, and grew up in an entrepreneurial family.

Chloe Spiess — owner, product designer, and primary employee Jane or John Doe — part time informational technologist

5

Website Interface

about

register 1

Customer Scans Stamp in Library Book

The website is designed to be used in tandem with a smart phone to take advantage of instant results.

community comments search inventory

2

Customer is directed to registration

3

Customer can search for their book and add comments

4

Customers can search for other books by title, author, or even year if they’re not looking for something specific

TYPE: BOOK TITLE, AUTHOR NAME, YEAR...

6

Stamp’d manufactures custom bookstamps with built-in QR codes for techsavvy bookworms and provides a connected digital platform for small library inventory and customer reviewing. All physical product is made with reclaimed wood for the grip and personalized lasercut natural rubber for the stamp. The stamp is designed with heirloom quality to last for generations of booklovers.

Salvaged Wood block

Natural rubber stamp

Laser-etched design & Custom QR Code

7

s

8

Branding Sketch

survey analysis Respondants Readers

Primary Research Goals

Librarians a

‘Librarians’

• Test desirability of product in individual target market

27%

• Test desirability of service in small library market

Results: individual market ‘Readers’ • most readers reacted positively to the idea of using a book stamp of buying a used book with another Librarians: Possess 500+ Books Level 1 - Haven't thought about it/ Not bothered stamp in it Level 2 - Moderately concerned a

b c

d

73%

11 respondents

Level 3 - This stresses my out, I need to do something!

• a price range of £10-£15 per custom stamp was popular small library market • subject sampling too small for comment

Forums where I posted the survey: • Booktalk.org • https://www.bookgrouponline.com/ • https://www.bookclubforum.co.uk/ • https://www.scooploop.com/groups/ book-club • Goodreads.com

Further Research Action Items: • Promote survey for individuals through Google marketing campaign to gain more reliable numbers • Create a list of known private libraries and bookstores in Glasgow • Conduct informational interviews with small library directors and librarians to gauge interest

9

readers 4.5

10 9

4

8 7 6

3.5

5 4

3

3 2

2.5

1

Librarians: Possess 500+ Books Level 1 - Haven't thought about it/ Not bothered Level 2 - Moderately concerned d Level 3 - This stresses my out, I need to do something! a

b

0

c

Would you buy a book with Someone Else's Stamp in it?

Yes

Would you use a personalised book stamp to mark your books?

2

No

1.5 1

more readers were at least concerned about books going into the landfill than indifferent

0.5 0

Stress About Books Going into Landfill Level 1b

Level 2c

Level 3d

Librarians: Possess 500+ Books Level 1 - Haven't thought about it/ Not bothered c Level 2 - Moderately concerned d Level 3 - This stresses my out, I need to do something! a

b

evel 2c

10

Level 3d

l

1.2 2.5 1 2 0.8 1.5 0.6 1

0.4

0.5

0

0.2

Would your library use a customized book stamp with imbedded QR code for cataloguing and reviewing?

Yes

0

Approximately how many books are in your library?

500-1000

1000-3000

3000+

No

Thoughts 1. In hind sight, finding forums for library associations would probably have been a better place to find this target group!

2. Open ended questions asking about what each small library lacked or struggles with would have been useful to target the software product 3. The ‘needs’ aspect of this group have not been reliably identified

librarians 1 1

survey structure How did you find this quiz?

•

Online Forum

•

Social Media

•

Other

I consent for my anonymous answers to be collected and used as data for a postgraduate course research

No

project. I understand that my participation in this research survey is voluntary and that I can close out of the window at any time.

a.

Are You....

Yes

b.1 or b.2

an Avid Reader - read more

1. How concerned are you about the issue of

2. Would you buy a second hand book

than 2 books per year

books going into the landfill?

that had someone’s stamp in the cover?

•

Haven’t thought about it/ Not bothered

•

Yes

•

Moderately concerned

•

No

•

This stresses my out, I need to do something!

b.1

3. Would you use a personalised

4. If I were to purchase a book stamp...

book stamp to mark your books?

•

I’d prefer to choose a design from pre-drawn schemes

•

Yes

•

I’d like to work with a designer to design one from

•

No

scratch

a Librarian - by profession or possessing 500+ books

b.2 12

1. How many books are

2. What best describes

3. Does your library have

in your library? It doesn’t

your library?

its own customized book

have to be exact!

•

personal home library

stamp for identification?

•

500-1000

•

office reference library

•

Yes

•

1000-3000

•

specific subject library

•

No

•

3000-6000

•

museum library

•

6000+

•

school library

e

Scan to view original survey

Exit Quiz Thanks for helping me conduct research for my elective! Have a wonderful day & enjoy reading!

5. I would commission a stamp...

c.

6. If you were to purchase this hypothetical product, which price range would you pay

•

for myself

•

for a friend

for a 100mmx60mm [size of typical inkpad] personalized book stamp?

•

£ 10-15

•

£ 15-20

•

£ 20-30

•

£ 30-50

4. Would your library use a customized book stamp with imbedded QR code for cataloguing and reviewing?

•

Yes

•

No

3 1

Financials Sources of Funding Start Up:

Personal Savings

Working During Time Out £2,000.00

Family Loan Inheritance £10,000.00 ‘Day’ Job* Architectural Assistant job

~£9,000.00

Total: ~£11,000.00 *(£26,000-21% tax - £9000 room & board - £2000 misc & savings) Day job number is the amount that I could potentially sink into the business during the first year. Starting number from www.glassdoor.com salary comparison for Glasgow.

Business Start-Up One-time Costs: Equipment Laser Cutter £3,400.00 Band saw (2nd hand) £120.00

Furniture Worktable (2nd hand) £40.00 2 chairs (2nd hand) £20.00

Technology Website Development £3000.00

Marketing & Promotion Graphics (in-house) £0.00 Google Ad Campaign £100.00 Poster & Flyer Printing £20.00

Sub Total: £6700.00

14

s

Business Monthly Costs:

Space Workshop Rental £300.00

Technology Creative Cloud License £59.00 IT troubleshooting service £200.00 Wifi £24.00 Materials Reclaimed Wood (per bundle) £20.00 Natural Rubber £160.00 Wood Glue £10.00

Marketing & Promotion Google Ads £75.00 Instagram Ads £50.00 Poster & Flyer Printing £10.00 Shipping Packaging £30.00 Shipping £100.00

Sub Total: £ 1,018.00

Needed Monthly Income to Break Even: Book stamp sales £15 x 42 £630.00

Library service subscription £200 x 2 £400.00 Total: £1030.00

Needed Funding for First 6 Months: Start Up Costs £6,700.00 Monthly Costs [1018x6] £6,108.00

Start-Up Total: £12,808.00

5 1

Survey for readers: result: should test versions of stamp to guage popularity *numbers not conclusive, should do wider market survey for more reliable numbers

+Idea to add service for small libraries. Switch to product + small business solution

Survey for small libraries - result *further research should include interviews with small library directors or owners. Current data insufficient to justify expense of web platform developer.

16

Conclusion: Current research supports the business idea as a side-job ‘cottage industry’ type of production. If the product(s) prove successful, expansion to other cities while keeping connection to local literary culture is a possibility.

Business Idea Process

Original Business Idea Custom book stamp with QR code that connects readers and promotes book sharing over waste

Goals of this project: Learning what goes into starting a small ‘cottage industry’ style business in the UK. Many of my classmates and even some tutors have side businesses that they use to explore artistic mediums outside of architecture. As a foreigner it is especially important to make sure that I’m not crossing any lines.

Reflection I had a lot of fun with the graphic and thinking about the idea of the business, but the details of running a larger-scale business need more study, testing, and research.

I don’t think that I would ever start a business alone, so I think that I would have preferred to team up with another student and created a business idea, product, and proposal together.

Areas that needed more work: actual product mock up, calculating how much material is needed for making a stamp, research survey with at least 100 responses for the individual target group, and at least 15 interviews, emails, or other forms of conversation with small libraries or used book stores.

In the future, I would be interested in trying a real-life business in areas where I have more experience. As I’m neither a product designer nor a web developer/software engineer, this project has highlighted areas for me to work on, namely forming partnerships early on when you don’t have the expertise, asking a lot more questions, and testing ideas in the field.

Last Summer I collaborated with Studio Culture in developing what we called the ‘Alt. Studio Project’. We shared inspiration on social media, ran a small-scale architecture and ideas competition focused on studio culture during the pandemic and beyond, ran workshops with staff and students, published a digital ‘zine of inspiration and competition submissions, and wrote a letter to GSA about what students were looking for from the COVID year and studio culture going forward. To my knowledge, this letter was not graced with a response, but the conversations with staff did influence things in the Mackintosh School. With this in mind, I think that a business with a community development aspect would be rewarding.

n o

n o i s u l c 7 1

Bibliography p. 4-5

p. 14

Business Plan Outside Examples “Write Your Business Plan.” Plan Your Business. U.S. Small Business Administration.

Accessed July 29, 2021. https://www.sba.gov/business-guide/plan-your-business/ write-your-business-plan.

Executive Summary Example Ward, Susan. “An Example of How to Write an Executive Summary for Your Business Plan.” The Balance Small Business. The Balance, April 28, 2020. https://www. thebalancesmb.com/business-plan-executive-summary-example-2948007.

Laser Cutter

“TEN-HIGH Laser Cutter Engraving Machine 80W 700x400mm CO2 Laser Cutting MACHINE,STANDARD Version with Usb Port.” Amazon.co.uk: DIY & Tools. Accessed July 28, 2021. https://www.amazon.co.uk/TEN-HIGH-Engraving-Machine-400x700mmStandard/dp/B07FYD7YS6/ref=sr_1_4?dchild=1&keywords=laser%2Bcutter&qid=16 27513713&refinements=p_36%3A100000-&rnid=118657031&s=diy&sr=1-4.

Bandsaw “ Classifieds: Used Bandsaw for Sale .” NewsNow classifieds. Accessed July 29, 2021. https://www.newsnow.co.uk/classifieds/home-garden/used-bandsaw-for-sale-uk.html.

Used Furniture Gumtree Website Design Barraclough, Dan. “How Much Does a Website Cost? 2019 Price Guide.” Expert Market, April 22, 2021. https://www.expertmarket.co.uk/web-design/how-much-doeswebsite-cost.

Google Ads “Set an Advertising Budget That Works for You.” Google Ads. Google. Accessed July 29, 2021. https://ads.google.com/intl/en_uk/home/pricing/.

18

p. 15

Workshop Rent rightmove.co.uk Adobe Creative Cloud business subscription https://www.adobe.com/uk/creativecloud/plans.html IT help service Software Developer friend WIFI “Wifi Broadband Deals: Broadbandchoices.” broadbandchoices.co.uk. Broadband Choices. Accessed July 29, 2021. https://www.broadbandchoices.co.uk/broadband/ wifi-deals.

Reclaimed Wood https://glasgowwoodrecycling.org.uk/product/thin-ex-scaffold-boards-1-5m/ Natural Rubber Sheet https://shop.deltarubber.co.uk/rubber-sheet/specification-natural-bs1154/ specification-natural-rubber-sheet-bs1154.html Wood Glue https://www.amazon.co.uk/Gorilla-Glue-1L-Wood/dp/B008ESKPKA?ref_=ast_sto_ dp&th=1&psc=1

9 1

Appendix A Slides Accompanying Verbal Pitch Presentation Final Preparing to present the whole business idea in 2 minutes was challenging.

If I were to do it again, I would revise the slides to make the graphics more consistent and thus easier to follow in such a short presentation. I would also break down the financial page at least into categories to clearly summarise where I’m getting the numbers, and show what’s included.

66.7% of discarded books end up in the landfill

20

goals: increase reading reduce book waste promote book sharing encourage local recycling industry

review this copy stamp bought too many books, guilty about not reading them

register

reader

what should I read?

send & receive

1 2

website + app for easy cataloging books and check out visitors scan QR code on book stamp to checkout and add reviews

small private library 1.2

Respondants 2.5

anecdotal anonymous survey

1

Librarians a 0.8

1.5 0.6 1

27%

Respondants Readers

Readers 2

Librarians a

0.4

0.5

0

0.2

0

Would your library use a customized book stamp with imbedded QR code for cataloguing and reviewing?

Yes

Approximately how many books are in your library?

500-1000

1000-3000

3000+

No

4.5

27%

10 4

9

3.5

8

3

73%

6

2.5

73%

7

5

2

4 1.5 3 1

Librarians: Possess 500+ Books Level 1 - Haven't thought about it/ Not bothered s: Possess 500+ Books c Level 2 - Moderately concerned Haven't thought about it/ Not bothered Moderately concerned d Level 3 - This stresses my out, I need to do something!

This stresses my out, I need to do something!

2

a

b

0.5 0

1

Level 1b

22

0

Stress About Books Going into Landfill Level 2c

Level 3d

a

Librarians: Possess 500+ Books

Level 1Would - Haven't about it/ Not bothered Would you buy a book with youthought use a personalised c Level 2 - Moderately concerned Someone Else's Stamp in it? book stamp to mark your books? d b

Yes

No

Level 3 - This stresses my out, I need to do something!

Start up costs: ~1300 Year Running Costs: ~6000 [does not include paying myself]

Stamp’d Organizing, Connecting, and Re-Homing books since 2021

3 2

Appendix B Journal/Work in Progress/Notes throughout the Semester

Value Proposition Venn Diagram

24

B

5 2

26

Value Proposition Customer Journey and Mood Board

7 2

Value Proposition Canvas Target Customer:

Value Proposition Canvas Assignment

Bookworms with a preference for physical books and minimalism Assignment Part 1: Target Customer: Ages: 14-90 Bookworms with a preference for physical books and minima Ages: 14-90

Value Proposition Canvas Assignment Assignment Part 1: Target Customer: Bookworms with a preference for physical books and minimalism Ages: 14-90

Value Proposition Side of Diagram:

ram:

Products & Services: Pass it On Book Stamp Club -Personalized book stamp with QR code leading to website -Reviewing website or app that allows readers to register, review, and connect

Customer Segment Part of Diagram:

Gain Creators: Customer Jobs: -sleek ergonomic stamp -not feeling guilty for buying so many books Pain Relievers: -reducing landfill waste -QR code -being book registration cuts time seen as generous -register the not the person -notbook, becoming a book hoarder -have a pack of stickers unique QR Codes -giving honestwith reviews to people who care for registration, nothonest a stamp -reading reviews -being a part of something bigger than oneself -having a legacy

Gain Creators: -sleek ergonomic stamp Pain Relievers: Customer Segment Part of Diagram: -QR code book registration cuts time Customer Customer Pains: Assignment Part 2: Jobs: s -register the book, notguilty the person -not feeling for buying so many books -getting I am struggling to believe that a personalized stamp or stickers connectedconned to a website will catch on -have a pack of stickers withwaste unique QR Codes -reducing landfill -privacy or be sustainable.

If the pandemic continues indefinitely, it is possible that a personalized way to for registration, not a stamp generous -wasting time (which we assume share and -being reviewseen booksaswould catch on. If the pandemic restrictions end soon -not becoming a book hoarder -wasting money WILL happen), then it is toast. Upon reflection, my idea seems to be a fussy mash-up of Amazon and -giving honest reviews to people who care -buying into something that won't last a library.

-reading honest reviews -having to ink the stamp -being a part of something bigger than oneself I think that my whole idea needs rethinking and redevelopment - would anyone in the course want a stamp or stickers connected to a website will catch on Customer Gains: -having legacy collaborator?

Overathe summer I started an architecture competition/project that included writing, indefinitely, it is possible that a personalized way to -highlight's bookworm's style illustrating, and gathering inspiration to sell an idea, getting people to sign upthe and participate personal in a e pandemic restrictions end soon (which we assume -attractive paperweight weekend competition, sorting entries into categories and publishing them with the inspiration, n, my idea seems to be a fussy mash-up of Amazon and -admiration of to friends organizing an interactive workshop with students and staff, and writing a letter the school. I don't -lightthat andthe portable think that I'm useless at planning or executing an idea, but I do think book stamp idea is

very flat. nd redevelopment - would anyone in the course want a rchitecture competition/project that included writing, n idea, getting people to sign up and participate in a tegories and publishing them with the inspiration, ents and staff, and writing a letter to the school. I don't g an idea, but I do think that the book stamp idea is

28

Custo -gettin -priva -wasti -wasti -buyin -havin

Custo -highli -attrac -admi -light

Research Rationale Chloe Spiess 1.1 Secondary Research Needed: What: Guidelines for Small Businesses Data Protection laws Literacy charities to partner with

1.2 Primary Research Needed: Who: Target customer: Technology-savvy bookworms with a preference for print over digital reading material.

Rationale for user: In order to use the stamp as intended, the customer must be familiar with smart phones and be able to scan the embedded QR code to access the registration website.

Librarians - people who deal with physical books A LOT • Students - might be interested in a fun city search activity • What: •

• • • •

How:

Where do books go if they aren't donated or resold? (circular economy question) This will tell me whether the fate of these books matters Do millennials and Gen Z have an interest in something as archaic as book stamps?

Are they interested in a library-style personalized book experience.

Could there be an element of geocaching books with the QR code?

• • •

Interview librarians Focus group - find a book club Survey posted on book forum, facebook, anywhere I can think of!

2. Links: Book Charity corporate sponsorship: https://www.booktrust.org.uk/support-us/corporatepartnerships/ Knowing the implications of setting up a corporate partnership with a charity is important to the social responsibility aspect of a business involving books.

UK Government website for setting up small business • https://www.gov.uk/browse/business/setting-up Includes a step-by step explanation of what to do – very helpful Data protection https://ico.org.uk/for-organisations/data-protection-advice-for-small• organisations/ Includes clarification for post-Brexit procedures •

9 2

30

1 3

Test Graphic Inspiration

Reference Stamp found in 2nd hand book

Book Stamp Production Testing - I did it in lino because that was what I had on hand, but for further tests I’d use natural rubber and a laser cutter for precision. Lino is too messy for the average bookworm, so it has to work with a normal inkpad.

32