Jungo – Learning through Life’s Playground #squaredonline
August 28, 2013
So Module 2, entitled ‘Think Commercial’ has come to an end. To sum the module up, it gave us an introduction to online business models, how to generate revenue, and how new technology can facilitate development of new models.
If you’re not aware, the squared methodology is that people don’t learn by being talked at, but they learn by thinking, doing and trying. We are given guidance and a framework, but ultimately it’s what we put into the experience of completing the assignments that will determine what we get out of it and how we develop as individuals.
The assignment for this module was to set up an online business – decide what it would be and how it would make money. This was a great project as it made us think about how we could utilise the online space and the potential it has for generating revenue.
The digital economy is an important sector for the UK’s economic recovery, and by leading in this field, Britain can shape what the future technology landscape will look like. A report published by the National Institute of Economic and Social Research has shown that our digital economy is far healthier than official statistics would have us believe, comprising of almost 270,000 active companies in the UK. Digital companies’ revenues also grow faster and employ more people than non-digital ones; currently 11% of Brits now work in the digital sector, so understanding the potential of digital is key for being a future leader.
So back to the assignment. We used Google Hangouts to meet up in our teams. We all had a few days to come up with an idea. At first, I have to admit my reaction was, sorry what? You want us to come up with an idea, that’s, quote ‘going to make millions’ over the weekend. Great. I think I was fairly intimidated but once I took a deep breath and just wrote down every weird and unfeasible idea that came into my head I ended up with a top 3 to explore in further detail. After some initial research, I realised I wasn’t that interested in one of them so probably wouldn’t enjoy working on it and the other one would probably struggle to make much money, so I settled on ‘Jungo’.
We then got the chance to pitch each of our ideas to the group in the Hangout as well as upload a one pager business plan to the shared drive so that we could all look over them in more detail before voting on our preference. I was very excited to hear that my idea had been selected to progress with and with a near majority group vote it really gave me the confidence in my ability to be creative and voice my ideas to others.
So what exactly is Jungo? My insight was that children are programmed to play and play is nature’s learning engine, so why not create a platform that allows children to essentially play the game of life and achieve real learning’s and accomplishments whilst also allowing parents to understand their child’s progress in a more visual and valuable manner.
As a group we discussed the idea in detail and completed PEST and SWOT analysis to understand the competitive marketplace, the potential opportunities as well as threats as well as completing some qualitative research to understand what our customers would find most useful and what they thought was missing. This also helped us to formulate our target audience, which fed into our route to market. We organised our group through a project plan, volunteering for certain responsibilities to complete the assignment on time! It was a great group effort and I thoroughly enjoyed developing the idea. See our slideshare below for our final submission. P.S. Jungo is under IP, so don’t go stealing my million pound idea!
<div style=”margin-bottom:5px”> <strong> <a href=”https://www.slideshare.net/ballard71/jungo-slide-share-v51″ title=”Jungo slide share v5.1″ target=”_blank”>Jungo slide share v5.1</a> </strong> from <strong><a href=”http://www.slideshare.net/ballard71″ target=”_blank”>ballard71</a></strong> </div>