Samenvatting

One needs three things to create a successful startup: to start with good people, to make something customers actually want, and to spend as little money as possible. Most startups that fail do it because they fail at one of these. A startup that does all three will probably succeed. (Graham, 2005)
Five passionate, well-educated and recently graduated university students, although they may relatively lack of experience in the industry, they have the knowledge and determination to be successful. The publication and website are their first project as well as actual products. Considering the analyzing and research I have conducted, the idea of living guidebook is definitely meets the customers' need, as well as a precedent in the market since no one has ever made one so far. The content has to be at all times focus on living a life in Beijing, and has to cover all the topics needed to long-stay foreign residents. Further research is necessary to make this book definitive. Design is vitally important as well, as packaging gives readers first impression. From cover to the last page, it has to be consistent and stunning. Price is always the key influential factor when it comes to shopping in China, a comparatively low price with good quality can bring FY a strong competitive advantage, as well as cultivate brand awareness among customers. The travel guidebook can wait a while as the second one of the 'Jing Flavor' series, since the current competition is intense and the brand awareness is rather low.
With regards to the website, the content has to be regularly updated, and well-organized. A coherent design along with the publication can efficiently emphasize the brand image. Free and open user-driven sections together with free registration system, such as forum and classifieds, provides users a platform to exchange and share information and experience. Comfortable platform and interesting information can increase the number of registration users and traffic, which may ultimately leads to ads revenue and others
incomes. Due to the limited capital, the first project does not involve major investment. FY should focus more on brand image building and cultivating among customers then making big profit. It may not make big money in the first year; however products like the living guidebook may benefit from republication, and other matching products, such as DVDs, Maps, etc. And the website may start offering other service in the future.
When thinking about FY's project, it is doable. Hard, with only five
recently graduates and limited capital, but doable. They should definitely go with their plan. The products have potential to be popular and profitable in the market. A startup is not necessarily something you have to know about 'business'. It is all about building something customers love and spending less than you make.