TRICKY BUSINESS 2

PROGRAMME 2: BOSO

ACTIVITIES

Guidance

These activities support a mix of individual, paired and group work. You may wish to revisit the 'before viewing' activities after watching the programme.

Before viewing

Make a big picture of what the word 'Boso' means to you. Share and discuss your ideas. Would you buy, use or invest in something called 'Boso'? Explain your reasons. How important is a brand name in persuading people to buy, use or invest in a product or service?

What is the difference between:

• a classified advert and an auction?
• a hobby and a business?
• a community and a club?
• a short shelf-life and a long shelf-life?
• a student entrepreneur and a business entrepreneur?
• an organised group and a disorganised group?
• someone with financial sense and someone without financial sense?
• David and Goliath?

Give some examples of successful internet businesses. Choose one that you know well and list the things that help to make it a success. Think about:

• the product or service it offers
• how people find the website and how they use it
• website design, ease of use and security
• how the company turns website traffic into money
• what else the company might need to have in order to support its website activities.

After viewing

To view 4Learning video clips you will need Windows XP/2000 and Windows Media Player 9, 10 or 11. Unfortunately, the clips are not supported on Macintosh computers.

The video clips may contain a few seconds of extra material at the beginning and end. We have therefore included opening and closing descriptions to help identify the intended scene.

Business ambitions
Clip one: 01:49 – 03:16

• Opens with the narrator saying, '23-year-old Kulveer Taggar and his 21-year-old cousin Harjeet were at Oxford University together where they got involved in their university entrepreneurs society.'
• Closes with Kulveer saying, 'It's a possibility. I genuinely believe that.'

John believes that winning start-up businesses have a unique idea and people with passion, enthusiasm and real entrepreneurial skills. Discuss how well Boso, Kulveer and Harjeet match these criteria.

Max Levchin
Clip two: 10:45 – 12:42

• Opens with the narrator saying, 'San Francisco is the internet capital of the world.'
• Closes with Max saying, 'That'll come as soon as someone with financial sense will come along and invest.'

Explain why Kulveer made an appointment to see Max, why Max refused to invest in Boso, and whether you agree with his decision. Comment on Kulveer's preparation for and performance in this interview and say how he could do better in the future.

Naval Ravikant
Clip three: 12:36 – 13:48

• Opens with the narrator saying, 'Naval is always on the look out for good dot com start-ups and has invested in over 15 companies.'
• Closes with the narrator saying, 'Naval isn't going to invest either.'

Describe Naval's concerns about Boso.

Either:

• List the pros and cons of running a business with another member of the family, and decide if it is generally a good idea to do so. Share and discuss your views.

Or:

• Or: visit www.boso.com, review the updated website and decide if Naval's criticisms are still relevant. Suggest how to improve the website or design an entry page for a similar site of your own.

Marketing
Clip four: 17:56 – 19:12

• Opens with the narrator saying, 'As John said, with only £16,000 raised, it's crucial that Boso's marketing is effective.'
• Closes with a student saying, 'Might as well go on eBay.'

Explain the term 'marketing'. Discuss why putting up posters failed to increase Boso's website traffic and membership numbers. Do you think that using word-of-mouth to advertise Boso would have more effect? What advice would you give Kulveer and Harjeet on how best to market Boso?

The future
Clip five: 20:43 – 22:46

• Opens with the narrator saying, 'Twelve weeks ago John told Kulveer and Haj, raise investment or your business won't survive.'
• Closes with John saying, 'I really hope it all works out in the end.'

Review the summary of Boso's performance and the advice that John gives Kulveer and Harjeet in this clip. Many internet businesses fail because their owners:

• believe that having a website guarantees that people will use it
• believe that they can turn a hobby into a business
• do not have a clear idea of how many people want what they are offering
• build a website that suits them but which users do not like and/or find difficult to use
• are supplying something that people can get more easily elsewhere
• have not done enough research and planning before going online.

Which, if any, of these pitfalls did Kulveer and Harjeet encounter? What could or should they have done differently? Do you agree with John's analysis of the situation or do you support the cousins? If you support John, write a letter to the cousins explaining why their ambitions for Boso are unrealistic. If you support the cousins, make an action plan to help them grow their business.