Revenue, Cost Concepts, and Market Research Paper

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Bottom line is that Bury has to increase sales and there are several cost efficient ways of promoting his products.

At the internal level of his business operations, it has to be noted that the increase in sales volumes has to be supported by an increase in production levels. Given this necessity, combined with elements such as ease of use of the technology and the minimum skills requirements of the person digitalizing the books, Will Bury ought to consider the following:

To a degree to which this does not negatively impact the family life or the individual life of the family members, Will Bury should ask his wife or his children to help with the digitalization process

In a context in which the help of the family is either impossible or insufficient, Bury should hire an employee to handle the digitalization processes. This employee would require minimum skills and would as such be paid minimum wage. The salary of the employee would be cumulated based on hours worked, which would normally equal the number of digitalized books.

It is advisable that the employee be a responsible local teenager who is looking to earn some extra money. It could be the child of a neighbor or a colleague from the children's school. It is true that the costs could be even further reduced with the outsourcing of the digitalization processes, but this solution is not viable for the time being due to the fact that the digitalization represents a core process and as it is necessary for Bury to supervise it at all times.

Relative to the other costs incurred, their alteration is rather difficult since Will Bury a is small size entrepreneur who does not reveal any power to influence the retail prices of the books, the technologies used or the copy write fees. Yet, he could implement several strategies:

The operational costs with electricity could be reduced with the usage of more natural light in the detriment of artificial light.

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Also, it would be possible to replace the traditional bulbs with environment friendly light bulbs, which consume less energy

It would be possible for Will Bury to seek for investors and sponsors who would offer him financial support

It would be important to assess the specifics of each stage of the process -- book collection, digitization, processing and distribution -- and to identify means of reducing each adherent costs. In terms of book collection, Bury could look for books which are no longer individual copy write materials, but which have entered the national patrimony. In terms of digitization and processing, an increase in efficiency would be required and it would be achieved through the increase in volumes processed and a decrease in resources consumed. Finally, at the distribution and promotional level, Bury should consider several free promotional opportunities and some cost effective distribution channels, such as direct sales from his garage.

Sooner or later, it would be necessary for Will Bury to renounce his full time job at the High Tech Digital Industries. Still, since the digital books entrepreneurship is still small and risky, Bury should take the quitting decision only when he has some savings to fall back on in case the books business does not retrieve the desired outcomes......

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