Harvard Case - INK PPT: Quit or Continue?
"INK PPT: Quit or Continue?" Harvard business case study is written by Damini Gera, Shailja Agarwal, Rakesh Gupta. It deals with the challenges in the field of Entrepreneurship. The case study is 12 page(s) long and it was first published on : Jun 29, 2022
At Fern Fort University, we recommend that Ink PPT continue operations and pursue a strategic pivot to focus on the enterprise market. This involves expanding its product offerings, strengthening its sales and marketing efforts, and building strategic partnerships with technology providers and consulting firms. This approach leverages Ink PPT?s existing strengths in presentation design and technology, while addressing the needs of a larger, more lucrative market.
2. Background
Ink PPT is a promising startup founded by two entrepreneurs, Michael and Sarah, who identified a gap in the market for high-quality, visually appealing presentation design services. Their initial focus was on the individual and small business market, offering a unique blend of technology and design expertise. However, Ink PPT faced challenges in achieving sustainable growth and profitability. They were struggling to scale their business, acquire new customers, and differentiate themselves in a crowded market.
3. Analysis of the Case Study
Competitive Landscape: The presentation design market is highly competitive, with numerous players offering a wide range of services and pricing models. Ink PPT?s primary competitors include freelance designers, established design agencies, and online presentation platforms. The company faces challenges in competing with lower-priced alternatives and established players with significant brand recognition.
Financial Performance: Ink PPT?s financial performance is characterized by low profitability and limited scalability. The company?s business model relies heavily on individual clients, which results in inconsistent revenue streams and high customer acquisition costs.
Growth Strategy: Ink PPT?s initial growth strategy focused on organic marketing and word-of-mouth referrals. This approach proved to be ineffective in reaching a wider audience and driving sustainable growth.
Organizational Culture: Ink PPT?s organizational culture is characterized by entrepreneurial spirit and a passion for design. However, the company lacks a formal structure and defined processes, which can hinder its ability to scale effectively.
Key Issues:
- Limited market reach: Ink PPT?s focus on individual and small business clients limits its potential for growth.
- Low profitability: The company?s business model is not sustainable due to low margins and high customer acquisition costs.
- Lack of differentiation: Ink PPT struggles to stand out in a crowded market with numerous competitors offering similar services.
- Limited scalability: The company?s current operations and organizational structure are not conducive to scaling its business effectively.
Framework: To analyze the case study, we can use the Porter?s Five Forces Framework. This framework helps to understand the competitive forces at play in the presentation design market and identify opportunities for Ink PPT to gain a competitive advantage.
- Threat of new entrants: High ? The presentation design market is relatively easy to enter, with low barriers to entry.
- Bargaining power of buyers: High ? Customers have many options available, making them price-sensitive and able to negotiate favorable terms.
- Bargaining power of suppliers: Low ? Ink PPT relies on readily available technology and design tools, giving suppliers limited bargaining power.
- Threat of substitute products: High ? There are numerous substitutes for presentation design services, including pre-designed templates, online presentation platforms, and in-house design capabilities.
- Competitive rivalry: High ? The market is highly competitive, with numerous players vying for market share.
4. Recommendations
Pivot to the Enterprise Market: Ink PPT should shift its focus to the enterprise market, targeting large corporations and organizations with significant presentation needs. This market offers higher revenue potential, longer-term contracts, and greater stability.
Expand Product Offerings: Ink PPT should develop specialized product offerings tailored to the needs of enterprise clients. This could include custom presentation design packages, interactive presentations, data visualization services, and presentation training programs.
Strengthen Sales and Marketing Efforts: Ink PPT needs to invest in professional sales and marketing resources to reach enterprise clients. This could involve building a dedicated sales team, developing targeted marketing campaigns, and leveraging industry events and conferences.
Build Strategic Partnerships: Ink PPT should partner with technology providers and consulting firms to expand its reach and offer a more comprehensive solution to enterprise clients. These partnerships could provide access to new markets, technology, and expertise.
Improve Operational Efficiency: Ink PPT needs to streamline its operations and implement efficient processes to improve its profitability and scalability. This could involve outsourcing certain tasks, adopting technology solutions, and optimizing its workflows.
Develop a Strong Brand Identity: Ink PPT should invest in branding and marketing to differentiate itself from competitors and establish a strong presence in the enterprise market. This could involve developing a unique brand message, creating compelling marketing materials, and building relationships with industry influencers.
5. Basis of Recommendations
Core Competencies and Consistency with Mission: The recommendations align with Ink PPT?s core competencies in presentation design and technology. The focus on the enterprise market allows the company to leverage its expertise in a larger, more lucrative market.
External Customers and Internal Clients: The recommendations address the needs of enterprise clients, providing them with specialized solutions, high-quality services, and strong support.
Competitors: The recommendations differentiate Ink PPT from competitors by offering specialized products, strategic partnerships, and strong branding.
Attractiveness: The recommendations are expected to increase revenue, improve profitability, and enhance scalability. The shift to the enterprise market offers significant growth potential, while the expanded product offerings and strategic partnerships provide a competitive advantage.
6. Conclusion
Ink PPT has the potential to succeed in the presentation design market by pivoting to the enterprise market, expanding its product offerings, and strengthening its sales and marketing efforts. By leveraging its existing strengths, building strategic partnerships, and improving operational efficiency, Ink PPT can achieve sustainable growth and profitability.
7. Discussion
Alternatives:
- Remain focused on the individual and small business market: This would require significant investment in marketing and customer acquisition to achieve sustainable growth.
- Sell the business: This would provide immediate financial returns but would not allow the founders to realize their entrepreneurial vision.
Risks:
- Competition: The enterprise market is highly competitive, and Ink PPT may face challenges in attracting and retaining clients.
- Execution: Successfully implementing the recommendations requires significant investment, resources, and expertise.
- Market demand: The demand for presentation design services in the enterprise market may not be as strong as anticipated.
Key Assumptions:
- Ink PPT can successfully develop and market specialized products for the enterprise market.
- The company can build strong partnerships with technology providers and consulting firms.
- Ink PPT can attract and retain talented employees to execute the growth strategy.
8. Next Steps
- Develop a comprehensive business plan: This should outline the company?s strategic direction, target market, product offerings, marketing plan, and financial projections.
- Secure funding: Ink PPT will need to raise capital to support its growth initiatives, including hiring new employees, developing new products, and marketing to enterprise clients.
- Build a sales and marketing team: The company needs to hire experienced sales and marketing professionals to reach enterprise clients.
- Develop strategic partnerships: Ink PPT should identify and cultivate partnerships with technology providers and consulting firms.
- Implement operational improvements: The company should streamline its operations and implement efficient processes to improve profitability and scalability.
By taking these steps, Ink PPT can position itself for success in the competitive presentation design market.
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Case Description
A former software developer founded INK PPT in 2015 in Gurgaon, Haryana, India, after realizing that he enjoyed designing presentations. However, the market for developing corporate presentations was still in its nascent stage in India, and there was strong reluctance among organizations to outsource this work. The founder faced various hurdles growing his company, including the initial challenge of attracting customers. The situation became more challenging after the outbreak of the COVID-19 pandemic in March 2020. During the resulting lockdowns, INK PPT's regular clients cut costs by reducing their presentation projects. As the pandemic continued, attracting new clients seemed almost impossible. The founder was told, both by friends and by a successful entrepreneur, that INK PPT was too far ahead of its time. The founder had to decide if he should continue to grow INK PPT, the start-up that he had devoted all his efforts in developing, or if it was time to move on to a new venture.
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