|Current Status||Concept / Business Plan|
|Funding Required||RM600,001 to RM1,000,000|
|Description||Helping Doctors build relationships with patients through Professional Websites & Videos
Today websites are primarily the most efficient way people market their products and services. However, when it comes to medical practitioners, all over the world, it seems to be an aberration. Medical practitioners seldom have their own websites (barring a few in developed countries like US & UK) to promote their services or educate their patients. Ask a doctor why he gets less patients/ is not so popular than his competitor who gets the celebrity patients & is seen on TV shows….he/she will definitely say that they can’t market themselves well enough though they have the best training and similar experience (if not better). This is a pain point for all doctors (even the ones who gets the TV interviews).
We do see several listing directories, clinics and hospitals having their own websites and using the Internet wisely. But none from doctors!
Our research showed that Drs. don’t have their websites because it’s too much of a hassle to create and maintain one; leaving aside the huge investment one has to make for web development, patient education video production, translation services and regular updates.
That’s only half of the problem though. Getting a website up & running means calling up vendors, selecting pictures, giving briefs and then checking every aspect of the output leading to huge of loss of man-hours, which otherwise would have been put on taking care of patients and saving lives (read: earning a livelihood).
Docweb.com will be a unique Subscription Based Web Development, Patient Education, Translating, Hosting and Maintenance model for doctors. It is designed to be quick, cost efficient and hassle-free for the people who make our lives better.
|Business Opportunity||There are 65,000 doctors in Malaysia. But none have their own website! Why?
The challenge faced by Doctors:
The Internet is critical to drive business for doctors. You need to:
Optimising customer interaction
Problems with Current Solutions (boutique creative agencies)
Do It Yourself (DIY) Tools:
Docweb will charge doctors a subscription fee for developing their websites, including patient education videos, hosting on high speed dedicated servers, translation services, regular updates and periodic maintenance for a subscription fee ranging from RM 200 to RM 500 per month.
Our process: A sales person will visit the doctor (either through cold calling or knocking like a medical rep. or through Demo Request on our website). He will then explain the process to the doctor and close the sale.
|Revenue / Business Model||Average subscription amount: RM 300
Every month each sales person adds 10 new subscribers and we have 2 sales persons we will reach around 240 subscribers within a year of operations.
Within 5 years of operations DocWeb can conservatively estimate around 1200 subscribers with revenues of 4.3 million per annum.
The profit margin will gradually increase to around 55% of total revenue.
A detailed financial plan can be submitted upon request.
|Management Team||Arunava Deb – Co-Founder & CEO, Neon Videos Sdn. Bhd.
– 15 years in Medical Device Industry primarily with German Multi-National company – B. Braun Medical
– Experience in business management, team management, product management, marketing & corporate communicationsHamish Gilbert – Co-Founder & Head of Creative, Neon Videos Sdn. Bhd.
HAMISH is NEON’s creative brain and co-founder, directing all design and animation from initial concepts to final renderings. Originally from Sydney, Hamish has a wealth of experience in animation including 10 years creating cartoons for ABC Kids TV and The British Council, as well as a stint on the production line for international TV sensation, Mythbusters. He has since cultivated his colourful style for a wide range of clients in news, entertainment, science, finance and education. From slick corporate branding reels to intricate explainer videos, Hamish illustrates perfectly what can’t be verbalised.
|Company Background||NEON is a content video production company specialising in educational, marketing and medical animation videos. Simply put we crystallise concepts and make it into an interesting video using cost effective animation & visual mediums.
Though we are a new entity, we have been successful in acquiring customers like:
• Australian Nuclear Science & Technology Org • Pacific Inter-Link Sdn. Bhd.
This shows that we have a strong creative team, sound business development competencies and customer relationship building skills.
We have already started building up the Library of Patient Education Videos which will be our key differentiator and customer acquisition tool.
With DocWeb, Neon will move from a transactional business model to a Subscription Business Model for its videos coupled with web development & hosting services. We already have experience in web development, however would have to develop competencies and learn more about the hosting services.
|Funding Milestone||The funds raised will be put to use in the following ways:
1. Development of Patient Education Video Library (around 60 videos)/ Server Capabilities/Website & Payment Gateways (RM 300,000)
Total investment required: RM 1 million.
|% Equity Allocation||20%|
|Expected ROI||240% in 5 years (estimating that total turnover becomes 4.3 million & the company is valued at 4x of turnover, as is the case with most subscription based businesses).|
|Risks and Mitigation|| 1. Drs. might not find value in having their websites developed. They might have reservations that the videos look are same as that of their competitors. Some doctors might say that their business is totally dependent on word of mouth and they do not need a website to promote themselves.Mitigation – The high penetration of the internet, DocWeb is confident in getting the numbers even at a conservative level.
The projection after 5 years if 1200 subscribers i.e. only 1.8% of the total market size. With no other competitors in sight this should be a achievable task.
Additional features like translation to Mandarin, Bahasa & Tamil might help to entice doctors to sign up. Since the video production team of Neon will continue to develop videos for the library, newer versions/ additional information will be available for the key ailments to convince new customers.
1 month free promotion campaigns can also be used to bring in new customers.
Finally at 210 customers the business will reach breakeven point and will be able to run at its own cost. This would mean that the business will get time to make course corrections, new strategic additions to move to the next level of customer acquisition.
2. Knowledge of webDevelopment & Hosting Services currently not available with the team.
Mitigation – The team has a fair understanding of the process having made some websites for their customers in WordPress & HTML. Additional staff with domain knowledge is available in the Malaysian market.
3. Foreign status of Co-Founders – Neon Videos has 3 directors (Arunava Deb – Indian Citizen; Hamish Gilbert – Australian Citizen & Selma Nada – Malaysian Citizen). What if their work permits are not renewed by the govt.?
Mitigation – Arunava Deb has a visa to stay & work in Malaysia till 2018 which will be renewed upon expiration. The applicant does not see any reason that the visa might be cancelled. Even at such a case, the business can be easily managed from outside of Malaysia and even expanded to other markets.
|Exit Strategies||The exist strategy for the investor will be by liquidating the investment to another investor during Stage B. The business is unique and has no competitor in South East Asia. We do not see a difficulty in attracting Stage B investors for the project within the next 3-5 years time.|
|Company Name||Neon Videos Sdn. Bhd.|
|Contact Person||A. Deb|