Shamshir Jessa Case
Shamshir has a very limited vision for the business. He starts off very well talking about the teachings of entrepreneurship classes he had taken; things such as idea generation, ability to critique opportunities and how to overcome problems and come up with creative solutions. The concerning thing is that the things he learned in class don’t seem to translate into his real life business skills.
In a venture project (Opportunity Identification Course) they created a web-based textbook exchange introducing buyers and sellers, but notes that they were having trouble seeing where the revenue was going to come from. Shamshir and Ken have created an almost identical business model but instead it is an exchange between truck drivers and contractors, and Shamshir still doesn’t seem certain where his revenue will come from. You can have the greatest idea of all time but if you don’t know how to generate revenues from it, it’s worthless.
In my opinion Shamshir has a couple different options that he should be thinking about to generate income.
- The truck/contractor business
There is potential in this business I believe but it must be executed correctly if Shamshir ever hopes to makes profits. Besides even generating profit Shamshir is extremely carless when handing out equity in his business. He must also think about liquidity, because he might not see any profits from this business in a couple years (should reinvest the money to better scale).
- Civil engineering job in Calgary
After he graduated he could start a job as a civil engineer making $14.4hr (I assume this is just the starting first year rate) that totals $42,000 annual income.
- Possibly becoming a professor in project management
He mentions that he learned from a professor that made $600/hour “to give his clients common-sense advice about project management. If Shamshir feels that this would be so easy and something he could add value in, he should look into the opportunity more because $600/hour is not a bad gig.
His market research also seems like it is lacking, and the most common answer he received was that it would undermine all of the work that truckers had done developing special relationships with contractors. In this situation Shamshir should be looking to either modify his idea a bit or know that he is targeting his service to a particular niche or truckers. It seemed he did very little searching to find out how much people would be willing to spend on his service, which resulted in a very poor revenue model made up from thin air.