Team MembersJordan Koene evin Antes
29 North Ct.
Saint Louis, MO 63108
Table of Contents
Vision & Mission
The Web site
Partnerships and Publishers
Lectorum and Scholastic publishing
Osmosis –The bilingual learning company
The Market Place
Retail Book Industry Analysis
Our Competitive Advantage
Barriers for Competition
Business Model/Revenue Model
Hispanic vs. Latino
Our customer is Americas Largest Minority
MyLibros.com Risks and Threats
Search Engine Optimization (SEO)......
Web Press Releases (PR)
Financial Plan Assumptions
The largest minority in America! The most educated minority in America! The most underserved minority in America! Hispanics are a moving force in the American market. Their potential and consumer trends are affecting small and large business alike. Today there are many frustrated, underserved and dissatisfied customers, primarily because many businesses are focused on capitalizing and not growing with this developing market.
MyLibros.com differentiates by serving this community:
- Providing a bilingual web site and customer services
- Enhancing our culture with educational and informational resources
- Creating a vibrant and trusted web site design for the Spanish community
- Promoting the progress of language
- Our ability to network and simply be a part of the Hispanic American community and the pulse of Spanish literature
Creating a relationship with Hispanic and Spanish literature buyers is critical, as many of these shoppers feel more comfortable going to a direct source, rather than filtering trough for there needs. Our brand, our company and the value we provide will ensure that we are the direct source of books, periodicals, and media for Spanish speakers.
We consider all fluent and learning Spanish speaking people as potential customers. However, our targets are the educated, tech-savvy, and culturally-aware Hispanics. Educated Hispanic Internet users are like many other Internet users. For instance, Hispanics with Internet access are likely to have, “browsed the web for fun, listened to music online, downloaded music, played online games, looked for information about books and movies and sampled audio and video clips.” - Hispanic Trending Juan Guillermo
The interesting fact is that few e-tailers or online commerce businesses cater to the growing needs and wants of the Hispanic market. Simplicity and creativity, with an inviting atmosphere, is how many online retailers have generated success in the last decade. We had added some new components such as culture, focus, and language, most online retailers lack the experience necessary to succeed. Today, many Hispanic online shoppers are confined or dissatisfied by what is provided in the online market.
As new retailers enter the Spanish market, they assume many aspects and limit themselves through poor design and inadequate selections. Today’s Spanish market is growing too rapidly to miss this opportunity. All companies will, at some point in time, concentrate growth efforts on the Spanish population.
According to the University of Georgia business school, Hispanics will control $926.1 billion in total disposable income by 2007. The Hispanic market is ‘hot,’ which is merely another way of saying…it’s our turn to deliver.
Vision & Mission
“Autorizando Español” (Empowering Spanish)
Our vision is to deliver online web resources which the Hispanic/Spanish community demands.
MyLibros.com’s mission is to distribute educational and enjoyment products through the web, focused primarily on products for Spanish speakers and readers. Through thoughtful and engaging consideration of both culture and language, we can deliver services and products that Hispanics request. Our company focuses on listening to the educational and advancement needs of the Spanish population within the United States and abroad. MyLibros.com delivers more than just products but also a wealth of knowledge, service and continued attention to the Spanish community. Our team seeks to bring Spanish business to the web though a Spanish point of view.
To Education: ESL (English as a Second Language) and learn Spanish products are the pinnacle of Spanish related educational needs. Becoming fluent with this segment is a critical value which not only adds more than just revenue but creates awareness to our community and target market.
To our Customers: Developing a cross cultural and language platform which divides barriers and ties our customers to our technological and beneficial resources. We create value by providing outstanding bi-lingual customer support through email, phone and even video. Doing all of this while keeping cultural awareness, customs and even history as our connection to the customer.
To the Community: We connect to the community by being an active member of Hispanic and Spanish events, organizations and causes. The ability to impact our local community will only spread as we are embraced through our active involvement and contributions. This ability to connect will bring value in rewarding ways outside of financial benefits as we can impact the community with both our language and technological abilities. We will focus on involvement within the Spanish and technology areas.
To our Leaders and Team: Providing a place where ideas for both technology and language can thrive and prosper. Balanced company atmosphere where goals and expectations are set yet relaxed and open for continual advancement. We offer a place for growth and development through opportunities to connect with the Spanish language and culture of our customers and products.
To our Supporters and Investors: Knowledge and wisdom is root of continual advancement for any business and its team. Our most important assets are the people around us. We seek to find highly qualified supporters and investors which understand the mission and goals of MyLibros.com. We believe in surrounding ourselves with influential and intelligent individuals who have stake in both technology and the Spanish market.
The Web site
The most important advice any web site owner must master is trust and reliability are your most important allies. Bill Gates chairman of Microsoft Inc. stated it best by saying “Well, everywhere you go on the Web there are issues about reputation and trust.”
When building a website and building the business from the ground up it is critical to understand the major components and functions that create creditability online. MyLibros.com addresses all these issues with the highest level of professionalism and comfort. The fundamentals which can be learned from experts in the field and then implemented onto the website include design, navigation and structure.
- Learning through your predecessors by visiting, using and adapting currently successful e-commerce websites to your own.
Top five current e-commerce websites in our industry Books/Cds/DVDs:Name / Gross Sales
Netflix Inc. / $ 688,000,000
BarnesandNoble.com Inc / $ 439,7000,000
Scholastic Corp. / $ 270,000,000
Abebooks Inc. / $ 150,000,000
Blockbuster Inc. / $ 146,700,000
* Data according to Internet Retailer Top 500 guide for 2005.
- Seeking professional help:
* Detail descriptions of each can be found in appendix 1
Beyond these core components of building the web site there is the consideration that this is an e-commerce web site. There are many core components to an e-commerce site beginning of course with trust and reliability. It is absolutely critical that MyLibros.com delivers 100% security to our clients that perception will only turn successful transactions. There are a few core components that make trust visible on a web site. The first step is the inclusion of an SSL (Secure Sockets Layer) Certificate. An SSL is a cryptographic protocol which provides secure communications on the Internet for such things as web browsing, e-mail, Internet faxing, instant messaging and online transactions. Secondly the hosting of a web site plays a vital role in the reliability of the site. For MyLibros.com 99.99% uptime is necessary. Our website must be in operation at all times. The effects of having your web site go offline can be devastating. Primarily you can lose sales. However the long term effect is that you may even lose rankings and positing in the search engine results. Ultimately MyLibros.com creates the perfect and ideal place for Spanish buyers to visit, browse and shop.
MyLibros.com delivers through more than just a great web site with security and reliability but by creating a business model that is focused on the need of the Spanish market. This is not a new division or side venture but a dedicated business model to a tremendously untapped market. MyLibros.com fulfills what every Hispanic reader looks for. Within each buyer, the sentiment of belonging and finding the products they want will be met online by MyLibros.com. Many Spanish shoppers are discouraged while shopping in stores and even online. The Hispanic buying power equaled 580 billion dollars in 2004, proving that this demographic has high needs and high purchasing energy.
MyLibros.com relates to Hispanic shoppers and provides a product many search for in English-speaking stores, but cannot find. MyLibros.com offers more than a product; we offer cultural and social connection that no other English-based and operated company can provide.
Our products range from children’s books to reference materials, allowing for maximum selection. We are a full service Spanish book store. We are not focused on a particular topic or range of Spanish titles. We carry a vast selection including classical literature to the newest releases.
Our products are carefully placed into categories. The product detail includes all the following key information: Image, ISBN, EAN or ISBN 13, binding, author, publisher, price, size, and description. We also offer the detailed descriptions in both Spanish and English, for the convenience of our customers. Combining this information with our service, we allow for an experience unparalleled in the industry.
Our book distribution is critical when providing a full range of titles. Books will be shipped as fast as 24 hours from when the customer has placed their order. This is made possible through the use of partnerships with Ingram Book Company and Baker and Taylor. *Both Ingram Book Company and Baker and Taylor are detailed in the partners and publishers section. MyLibros.com has also chosen UPS to be our shipping partner. UPS Internet Shipping is the fastest and most convenient shipping solution on the Web. With UPS we will be able to ship as many packages as necessary, store thousands of addresses online, access shipping history for customer service, and even arrange for a pickup. UPS will allow us to run our shipping program with ease and efficiency. Using Quantum View Manager, you can view, download and share shipment status information from any computer connected to the Internet. The ability to work with both UPS and our book partners and publishers provide for the ideal and professional distributions customers expect.
Our book inventory will be based on quarterly figures dealing with the top 100 Spanish books purchased. We will increase our Inventory on a per sales basis. Decisions on the inventory increase will be determined by the individual books that are sold most through our affiliate network. This way we capture the market for the most demanded books allowing us to maximize revenue, minimize cost, and capitalize on profit. This inventory method will allow for exponential growth as time permits and resources permit. Once a stability point is stratified with the top 100 books, expansion into more inventory can be made possible. To see the current top 100 Spanish books please see the appendix.
MyLibros.com expresses the highest regard for customer service. In the past few years, the Spanish market has demanded services in Spanish, ranging from call center receptionists to government documents. Today many cities and businesses are providing their Spanish customers with tax forms, applications and insurance programs in their native language. This development has been adopted by MyLibros.com. We are committed to bringing the best customer service in Spanish, providing our shopping cart in Spanish and more importantly creating a web site that is formatted in both English and Spanish. We will stay committed to the native language of our primary market. Customer service in the Hispanic culture is the key to success. For instance, banks have captured the Spanish market but cannot service it. That is why larger banks like Bank of America who provide tellers, phone support and even their web site in Spanish are successful where others are being left behind. MyLibros.com will provide the service aspects:
- Fluent Spanish/English customer service representatives by phone and email
- Spanish/English web site platform – including shopping cart
- Product description and characteristics in Spanish
- Friendly and open to cultural changes
- Embracing the Hispanic community through involvement
- Recognizing the need for simplicity and ease in Spanish e-commerce
Our commitment to meeting the service needs of the Hispanic community is critical to our success. This is more than just a competitive edge; it is the foundation of the company. Involving the Hispanic community will become crucial as more and more Hispanics become educated. The representation of Hispanics in higher education has grown dramatically, from 202% between 1976 and 1996. Our focus is on meeting the needs of this growing population. To do so, we will have to deliver the best customer service in the industry. We will accomplish this through our committed goals to operations and excellence.
Why our service is so focused on the needs of the Hispanic Population
Alecia Jones, president-elect of the Hispanic Chamber of Commerce in Colorado Springs knows that businesses that want to attract the Hispanic population should keep two things in mind. “The most important thing is to always have a bilingual person on staff,” she said. "Many Hispanic people now speak English as well, but they are more comfortable speaking in their native tongue. It is always a good idea to have someone who can speak Spanish, especially for the people who have trouble with English. The second: Don't assume that all Hispanics will respond to advertisements and marketing in Spanish.” Jones said.
Bearing this in mind, MyLibros.com will establish a progressive approach to building both our staff and brand. At first Jordan T. Koene will be the primary bilingual contact and representative for the company. His background of growing up in a bilingual home and the ability to speak the native Spanish language will satisfy the startups initial needs. As development and expansion take place the need for additional bilingual associates will be implemented. Currently our financial structure provides for one additional customer service representative per 8-12 months.
MyLibros.com is positioning itself to be the premier brand among Hispanic book retailers in North America. We will accomplish this goal by creating the first Hispanic user friendly web site supporting both languages. Solidifying our brand name through grassroots involvement in the Hispanic community and where the Spanish language persists. Our community involvement programs will engage both books and computers, connecting the ideas of education and technology. Positioning our products in this way will allow for the advancement in both the Spanish language and the use of technology. This positioning of MyLibros.com creates a need for Spanish materials.
Examples of how we position our brand are found in the following:
Connecting with local web sites:
-MyLibros.com provides a monthly book review which outlines books for local communities. You can see an example of this at (for a screen shot view review appendix 2). We have partnered with this local Hispanic information provider to both increase our visibility and provide valuable information on titles which are important to this community.