Business activity : victoh trust innovative start up|| contest entry || innovative start up for solving problem
A brief Introduction
My post today is a result of necessity.
From the contest recently published we were asked To come up with an innovative idea for a tech startup which would solve a problem we are facing in the world today.
This sent me thinking hard and through, at first I hit a brick wall as to what problem could I solve.
In all honesty at first glance it looked like any problems worth solving was either unattainable or had already been solved.
How I got my startup idea initiative
Yesterday being 27th of April 2022 while going through Ali express, this is because I have been planning to purchase a laptop for a while now.
I had seen so many laptops that matches my specifications yet I was scared to place an order.
I then asked my self why I was scared, I didn't know the answer at frist then it hit.
I was scared cause I wasn't able to ascertain the quality of the good I was buying and I won't be able to do so until the goods arrive and in the eventuality that such goods doesn't match my specifications what do I do next??
How will I obtain my refund ?
How long would my refund take ?
Would the seller offer me a refund ?
The problem I wish to solve.
Source
The problem that I wish to solve is that of fear and lack of confidence between the buyers and sellers of goods online.
We find out that though online sales is rapidly increasing and expanding to the remote part of the
world, it is still not progressing as far as it ought to go.
Commons fears which I would solve.
Consumers often fear that pictures of goods and services onlineight be misleading.
Produces often fear that after delivery goods and services consumers may decline payment, or worse return goods under the false pretence of damaged.
How I hope to solve this problem
Seeing that this is a real complex problem as both parties are justified by thier actions for distrusting of one another.
It required a creative, out of the box yet simple innovation to fix it so as not to confuse both parties.
In order to solve this problem I propose the development of a trusted online third party presence which would serve as an intermediate between the buyers and sellers.
How the proposed start up would work.
When a buyer wishes to buy a good online let's take Ali express for example he would be directed to the third party (victoh trust) which is my start up where the stipulated amount would be paid.
After the victoh trust confirms the said amount has been paid he then receives the goods from Ali express first checking it is in good working conditions, after all checking is done the good is then delivered to the buyers.
The buyer then confirms the goosds to be sure it is in good working conditions.
After the buyer confirms all is in other the payment is then released to the seller.
Key features of this startup
Trust.
The most important element or challenge in starting this innovation would be to build trust between the buyers and sellers
It is only by doing so would would they be able to grow to thier full potentially.
Independent
Ideal this start up would work with various big online business such as Ali baba, ebay, Amazon but one key element is that though they work with this online sales business they are in no way obligated to favor them.
Also they do not work for the buyers, this is essential so as to build sellers confidence in the business.
Note: By following this two key features the start up business would in no time turn to big tech as they would become the new face of online sales representing consumer and seller trust.
Method in which this start up would operate
In order to reach its maximum potential this start up would be done online as an intergration to online sales platform such as Ali express, Amazon and others.
Ideally after a consumer finishes his shopping they would be an option "pay with" victoh trust(start up name) and then buyers would have the option to use this form of payment.
It is my hope and believe that this form of payment would be widely accepted as individuals would always want the assurance that goods and services purchased online are of the right standard and in the eventuality they aren't they can be refunded as Swifty as they were debited.
Advantages
Building trust
Source
Victoh trust is in the business if building trust and unity amongst buyers and sellers and from its mood of operation we can see how it hopes to achive that.
Increase online sales.
Source
Though the adoption of victoh trust online sales would sky rocket as buyer who now trust sellers wouldn't be hesitant in our purchasing goods from various online vendors.
A buyer can confidently order a good from the other side or the planet and be assured that such goods would arrive in good condition.
Ensures standard goods are sold
Source
The overall advantage of victoh trust would be felt by those in the community as they would be ensured that producers no longer have an option buy to produce standard produces as those that do not meet consumers expectations would be returned.
profit model
Source
Ideal this start up (victoh trust) has a very good profit model as it would work based on commission hence the Moe popular it gets the more it's revenue increases.
Disadvantages
Large capital
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Source
To establish this sort of business we would need a very large capital outlay most especially to service the delivery arm of the business.
The delivery arm of the business is most especially important and cannot be excluded.
Trust
The process of obtaining consumer trust is really difficult as consumers are often very frugal with who they trust.
To get the hearts of consumers something very extra special has to be done.
Time frame
The time frame for establish this business is very lengthy as it requires first building consumers and sellers trust as often time this takes years to accomplish.
It would be difficult to remain independent
This is so because along the lines various online sales company would like victoh trust to side with them over consumers and would offer the start up very attractive offers to do so.
final note
By sharing this I would like to add that I would like to pursue this business plan some day in the future, I also have other constructs about this Business which I wish to discuss with any who is available to listen.
I would like to invite @cryptostats @p3d1 @mehta to participate in this contest.
| Business: | business activity: victoh trust- innovative start up. |
|---|---|
| Username: | @victoh78 |
| Owner's name: | victoh |
| location: | gwarimpa, abuja, Nigeria. |
| About Us: | Iink |
10% Set To Account @businessactivity
https://twitter.com/__victoh/status/1519653857881645056?t=8qSYs0yDmg80EHQOytRKeA&s=19
Twiter share link
Thank you @chiabertrand for your support
Wow you are done with the contest already, I was just warming up my entry. I really love your idea, now that you have gone first, I think I have an idea on what I want my business initiative to be. I wish you great luck in this contest as I am coming to best your entry and emerge above. I love the way you use pictures though, the post looks professional and beautiful
I always use picties to try to captivate the audience to the information I am trying to pass
Hello, @vitoh78 has created a really great innovative idea, and it is totally true that technological products or any other, many times it is difficult for us to buy them due to the same issue of quality and mistrust of the service.
With this idea you can improve the service much more.
I wish you good luck in the contest, Thank you for your participation.
Greetings.
Hello, what a good business idea, innovative, I like it a lot, since if it is true, mistrust is generated by not knowing in what state the product arrives, but the third party is in the middle of it, it verifies and makes the call to the client to check, if there are defects, the store in this case the third party notifies in the presence of the customer. The truth is that online businesses, from which products are requested worldwide, should have affiliates with a list of businesses, "third parties as a reliable and secure base to be the ones who receive if customers so desire the merchandise."
A fresh, new idea, and that arises from your own concern and restlessness, through the laptop.
@victoh78
You should invite three friends, who are not in the community, to be new members to join.
Greetings.
I am just noticing the error, I will look into this
I am particularly glad you enjoyed reading my post
The problem seem to be from the server hopefully it would be fixed on thier end
@victoh78 , Keep in mind, change the images, or provide matching fonts. Please. since you have a very good topic. But you have to fix the images, maybe other sources and other images.
Thank you very much I have corrected all errors you could check again now
Great job, you do a great job and the corrections are very good. ☑ Keep up the great work as it motivates more members.
I also buy products from Aliexpress and trust, at least at first, is something important since we must risk our capital without being 100% sure of the quality of the product.
It is true that each product has the rating or review of the buyers, but sometimes it is not accurate or they do not provide additional information such as how long it takes to arrive, etc.
After we have purchased a product from a specific store and it is good, we are sure to buy from that store.
The idea that you show us is good, that it can increase the sales of an online store. But my question is how this app can relate to other stores? It is very difficult for a company like Aliexpress or Amazon to redirect an order to an unknown app, so trust is the key.
To build trust I think Vitohtrust should start with something more basic. For example, Reviews of articles from different stores, either online or physical, and that customers provide detailed information such as Quality of Customer Service, Delivery duration, duration for payments, product quality, etc. This will be a starting point for the project.
Thank you for entering the contest, Good job.
I like the fact that you can relate to this problem, as this is an issue that is faced globally irrespective of the continent you are own.
Yess you are right .
But the idea behind victohtrust is such that we would first need to grow locally and work our way to the top, getting key partners who are notable people in the business world.
This would not be easy and take years , the ultimate goal will be victohtrust being internationally recognised and working with big unlike sales companies such as Amazon, Ali express and others.
For example we could start by serving as intermediate between new start ups who are engaged in online sales .
All in all that elements of trust is very crucial to the survival of this enterprise.
And you ahve given me an excellent point with the review of business aspect.
I will take this into consideration as I continue to ponder on this issues
Good answer friend, this is a long-term project but with good results. Thank you.
Omo you are the winner already
This is awesome 👌
Keep it up bruh
Hello @victoh78 it's a very diamond idea about your proposal regarding third parties where they have an important role in every thing.
Thank you for submitting an excellent entry mate.