TECHNOLOGY-BASED BUSINESS IDEA BLUEPRINT (TBIB)

REPORT
(NOUVELLE SMART KEYLESS DOOR LOCK)

Faculty : Department of Built Environment Studies &

Technology
Program : Bachelor in Town and Regional Planning (Hons)
Program Code : AP221 (Group 4)
Course : TECHNOLOGY ENTREPRENEURSHIP
Course Code : ENT 600
Semester : 08
Name and Student ID : i. Muhammad Danial Afif Bin Rosli
(2021395763)
ii. Muhamad Afif Najmi Bin Mohamad Nasir
(2021329763)
iii. Muhamad Danish Shafiq Bin Shakir
(2021371009)
iv. Muhammad Alif Haikal Bin Azian
(2021370833)
v. Nur Shifa Natasya Binti Mohamad Zamri
(2021382723)

Submitted to
Professor Madya Dr Hazliza Binti Haron

Submission Date
16 July 2023
 ACKNOWLEDGMENT

First and foremost, we would like to praise and thank the Almighty God for giving us strength
and because of His blessing, we finally managed to accomplish this assignment which is the
Technology Based Business Idea Blueprint Report of Nouvelle Smart Keyless Door
Lock. This assignment cannot complete without effort and cooperation from our group
members, which consist of Muhammad Danial Afif Bin Rosli, Muhamad Afif Najmi Bin
Mohamad Nasir, Muhamad Danish Shafiq Bin Shakir, Muhammad Alif Haikal Bin Azian, and
Nur Shifa Natasya Binti Mohamad Zamri. We always work hard to produce a good assignment
with our full commitment and responsibility.

Therefore, we would like to acknowledge with thanks our beloved lecturer Professor Madya
Dr. Hazliza Binti Haron for her guidance throughout the completion of this assignment. She
always gives us support and guides us on how to do our assignments in purpose to produce
a good outcome. She inspired us greatly to work on this project. We would also like to thank
her for teaching us this course during our semester.

Finally, we would like to express our thankfulness to University Technology Mara (UiTM) Perak
branch Seri Iskandar campus for giving us the opportunity to conduct this writing report
assignment. Hopefully, this will strive to gain more skills and knowledge in the best possible
way and will continue to work on our improvement to attain our desired career objective.

Thank you.

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 TABLE OF CONTENT

ACKNOWLEDGMENT i
TABLE OF CONTENT ii,iii
LIST OF FIGURES iv
LIST OF TABLES iv
LIST OF ABBREVIATION v

1.0 EXECUTIVE SUMMARY 1

2.0 PRODUCT DESCRIPTION 2
2.1 Product Details 2
2.2 Patents or Other Proprietary Features of Product 3
2.3 Opportunities for the Expansion of Product 7
3.0 TECHNOLOGY DESCRIPTION 8
4.0 MARKET ANALYSIS AND STRATEGIES 10
4.1 Market Survey 10
4.2 Customer 11
4.3 Market Size and Trends 12
4.4 Competition 13
4.5 Market Share and Sales 14
4.6 Marketing Strategy 15
4.6.1 Overall Marketing Strategy 15
4.6.2 Pricing 16
4.6.3 Service and Warranty Policy 16
4.6.4 Advertising and Promotion 16
4.6.5 Distribution 17
5.0 MANAGEMENT TEAM 17
5.1 Organization Chart 18
5.2 Key Management Personnel 20
5.2.1 Career Highlight 20
5.2.2 Duties and Responsibilities 24
5.3 Management Compensation and Ownership 26
5.3.1 Salary, Share Ownership and The Amount of Equity Investment 27
5.3.2 Remuneration of Management Team and Workers 28
5.3.2 Supporting Services 29

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6.0 FINANCIAL ESTIMATES 30
6.1 Start-up Costs 31
6.2 Working Capital 32
6.3 Start Up Capital and Financing 33
7.0 PROJECT MILESTONES 33
8.0 CONCLUSION 35
REFERENCES
APPENDICES

iii
 LIST OF FIGURES

Figure No Pages
Figure 2.1: Logo of Nouvelle Smart Keyless Door Lock 2
Figure 2.2: Model of Product 6
Figure 2.3: Nouvelle Smart Keyless Door Lock 6
Figure 5.1: Function of Management Team 18
Figure 5.2: Organization Chart of Nouvelle Sdn. Bhd 19

LIST OF TABLES

Tables No Pages
Table 2.1: Nouvelle Smart Door Lock Design and Description 3
Table 3.2: Nouvelle Smart Door Lock Feature and Description 9
Table 4.1: Market Size for Nouvelle Smart Keyless Door Lock in (2023 -2025) 12
period
Table 4.2: Comparison between competitors' strengths and weaknesses 13
Table 4.3: Market share before the entry of Nouvelle Smart Keyless Door Lock 14
Table 4.4: Market share after the entry of Nouvelle Smart Keyless Door Lock 14
Table 4.5: Total Market Sales for Nouvelle Smart Keyless Door Lock 15
Table 5.1: Career Highlight of Management Team 20
Table 5.2: Duties and Responsibilities of Management Team 24
Table 5.3: Salary, Share of Ownership and Amount of Equity Invested for 27
Management Team
Table 5.4: Remuneration of Management Team and Workers 28
Table 5.5: Supporting Services of Company 29
Table 6.1: Start Up Costs 31
Table 6.2: Working Capital 32
Table 6.3: Start Up Capital and Financing 33
Table 7.1: Project Milestone of Nouvelle Smart Keyless Door Lock 34

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 LIST OF ABBREVIATION

TBIB Technology Business Idea

USB Universal Serial Bus
Sdn Bhd Sendirian Berhad
KPI Key Perfomance Indicator
IT Information Technology
RM Ringgit Malaysia
EPF Employees Provident Fund
SOCSO Social Security Organization

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1.0 EXECUTIVE SUMMARY

This executive summary provides an overview of the Technology-based Business Idea

Blueprint (TBIB) Report for a Nouvelle Smart Keyless Door Lock. The report outlines the key
findings and highlights the potential benefits of introducing this innovative product to the
market. The market analysis indicates a growing demand for smart home automation
solutions, including smart door locks. The global smart lock market is projected to experience
significant growth, driven by factors such as increasing home security concerns, the rising
popularity of smart homes, and the convenience offered by keyless entry systems.

The Nouvelle Smart Keyless Door Lock is a technologically advanced product

designed to enhance security and convenience. It features keyless entry, allowing users to
unlock their doors using various methods such as Faced ID and Nouvelle Unlock Apps. The
lock integrates with existing smart home ecosystems and offers remote access control and
monitoring capabilities. The competitive landscape analysis reveals several key players in the
smart lock market, each offering its own unique features and pricing strategies. However, there
is an opportunity to differentiate the product by focusing on ease of installation, user-friendly
interface, and compatibility with popular smart keyless platforms. The report outlines the
product development process, including ideation, concept development, prototyping, testing,
and finalization. It highlights the collaborative efforts of cross-functional teams, incorporating
user feedback, and iterative improvements to ensure a high-quality and market-ready product.

The target market for the Nouvelle Smart Keyless Door Lock includes homeowners,
property managers, and Airbnb Hosts. The report identifies key demographic segments, such
as urban professionals, families, and elderly individuals, who would benefit from the product's
features. The marketing and sales strategy should focus on highlighting the key benefits of
the Nouvelle Smart Keyless Door Lock, such as enhanced security, convenience, and
seamless integration with existing smart keyless ecosystems. The financial projections
estimate the potential revenue and profitability of the Nouvelle Smart Keyless Door Lock. It
considers factors such as production costs, pricing strategy, market demand, and expected
market share. The Technology-based Business Idea Blueprint (TBIB) Report for the Nouvelle
Smart Keyless Door Lock highlights the strong market potential and the need to capitalize on
the growing demand for smart keyless automation solutions. By offering advanced features,
compatibility with existing smart keyless ecosystems, and a robust marketing and sales
strategy, the Nouvelle Smart Keyless Door Lock has the potential to become a market leader
in the smart lock industry.

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2.0 PRODUCT DECSRIPTION

2.1 Product Details

Figure 2.1: Logo of Nouvelle Smart Keyless Door Lock

A Nouvelle Smart Keyless Door Lock is an electromechanical device that uses wireless
protocols to lock and unlock doors. Wireless communications had previously
surpassed wired networks in terms of flexibility and extensibility, as well as ease of
installation. The smart lock is controlled wirelessly by a cryptographic key upon
authentication, allowing only authorized staff access. More effective security systems
are developed as technology and research evolve. Using fingerprint biometric
technology to gain access to the smart lock system increases security. Some smart
locks incorporate camera functionality to improve their security. The smart lock is likely
the most visible component of a smart-linked house. A smart lock can be used for
commercial (offices, hotels, malls, and so on) or domestic (i.e., home security) security.
It enables third-party entities to gain access to the lock by sending a virtual key to the
recipient's smartphone via Wi-Fi, mobile app, proximity sensors, BLE-enabled devices,
and so on. Integrating Wi-Fi into the smart lock can provide various advantages, one
of which is real-time status OTA updates.

However, the Nouvelle Smart Keyless Door Lock, like any technology, come
with their own set of issues and considerations such as security vulnerabilities which
is Smart door locks, like any other connected equipment, can be subject to hackers or
unauthorized access if sufficient security measures are not in place. Weak passwords,
old firmware, or unprotected communication lines might all endanger the lock's
security. Other than that, reliability and technical glitches are for communication and
operation, smart door locks rely on technology components such as Wi-Fi, Bluetooth,
or Zigbee. Lock malfunctions or failures can be caused by technical flaws, connectivity
challenges, or power outages. It is critical to ensure the lock's components and
software are reliable and stable. Therefore, with the availability of Nouvelle Smart
Keyless Door Lock with an innovation of the components which is faced id that can

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enhance security which is the addition of facial recognition to the smart lock offers an
added layer of security because each person's facial features are distinct, it is difficult
for unauthorized individuals to circumvent the lock. Face ID technology also includes
liveness detection to avoid spoofing with images or masks., nouvelle app unlock and
emergency power supply it can be more safely for all the users. Second is nouvelle
app unlock for authorization and access control after verifying the user's identification,
the nouvelle app unlock sends a signal to the smart lock, allowing it to unlock the door.
The command is received by the lock, which disengages the locking mechanism,
allowing the user to enter. Third is the emergency power supply to ensure that access
to the lock remains uninterrupted during power outages or other situations in which the
primary power source is absent. This is especially vital for security and safety reasons,
as it allows authorized persons to enter and exit the premises even in an emergency.

2.2 Patents or Other Proprietary Features of Product

In this section, will be explained in detail about the product design and features of
Nouvelle Smart Door Lock. This design is to satisfy the market needs. The table below
shows the explanation about the design of smart door locks.

Table 2.1: Nouvelle Smart Door Lock Design and Description

Design Description
Material Stainless Steel, strong and
fashionable for your smart home

Size The size of Nouvelle Smart Door

Lock is 335mm(H) x 70mm(W) x
19mm(T)

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Fingerprint Unlock Hold the handle and press
fingerprint to unlock in one step

Mechanical Key Unlock Assorted Nouvelle Smart Door

Lock not only hides the
mechanical keyhole under the
bottom of the escutcheon but also
is equipped with a c Grade lock
cylinder.

Password Unlock Slide to the active keyboard, input

your password and press # to
finish and wait for voice feedback
and it’s unlocked. Only 2, 8, * and
# are lit under Admin Mode. Press
2 to scroll up, 8 to scroll down, * to
go back, # to confirm.

Smart Card Unlock Place your smart card at the

reader area, wait for voice
feedback to unlock

4
Face ID 3D face live detection and high
precision restoration of face
modelling.

Apps Mobile application support. The

ability to use your Nouvelle App to
with smartphone. It can download
the Nouvelle App in Appstore and
Playstore

Battery Open the battery compartment

and remove all batteries, press
and hold reset button and then
restore batteries again.

Emergency Power Supply Emergency power supply by

making contact between the 9V
emergency battery and the
terminal and it provides power
when the battery is exhausted.

5
Colour Available There are two (2) variation of
colors as options for the
consumer. The color is used in a
mate form to present the sense of
premium and elegance. The color
variation is black and silver.

Figure 2.2: Model of Product

Figure 2.3: Prototype of Nouvelle Smart Keyless Door Lock

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2.3 Opportunities for the Expansion of Product
Expanding the product of the Nouvelle Smart Keyless Door Lock can present various
opportunities. Here are a few potential avenues for expansion:

i. Market Growth

The smart home market continues to expand, and there is a growing demand
for smart security solutions. By improving and expanding this
product line, it can tap into this market and reach a wider customer base.

ii. Enhanced Features

Consider adding new features to the Nouvelle Smart Keyless Door Lock that
cater to customer needs and preferences. For example, it could integrate voice
control capabilities, biometric authentication (such as fingerprint or facial
recognition), or integration with other smart home devices, such as smart
speakers or security systems.

iii. Integration with Existing Systems

Explore opportunities to integrate the Nouvelle Smart Keyless Door Lock with
existing systems or platforms. This could include partnerships with home
automation platforms, security companies, or home builders to offer
comprehensive smart home solutions.

iv. Customization Options

Offer customers the ability to customize their smart keyless door lock. This
could involve different finishes, styles, or materials to match various home
aesthetics and preferences.

v. Enhanced Security

Continually improve the security features of Nouvelle Smart Keyless Door Lock
to stay ahead of potential threats. This may include adding encryption
protocols, multi-factor authentication, or advanced tamper etection
mechanisms.

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3.0 TECHNOLOGY DESCRIPTION

Technology is the use of scientific knowledge for practical purposes or application, whether in
industry or in our everyday lives (Ford, 2023). In our business, we are introducing technology
that has unified the functionality provided by convenient and secure access control methods.
As new entrepreneurs, we can see technological visionaries containing innovations from
existing products as we create products Nouvelle Smart Door Keyless that have multiple
functions to enhance your home safety too. We realize that to stay in this competitive sector
we need to smartly create innovations that will attract more people to use our form of
technology. Nouvelle Smart Door Keyless are an improved version of digital door lock since
they combine a physical and digital locking control on the same door while also providing an
additional security function.

In innovation technology that is Nouvelle Smart Keyless Door Lock about home
security. Smart Keyless Door lock can manage your property from anywhere convenient, it
makes home access safer and smarter and enjoy the convenience of smart living. Smart Door
Keyless comes with advance features making your life easier, since you no longer depend on
mechanical keys which are easy to lose, to be stolen and duplicated. Accessing your home is
much easier, quicker, and safer with your fingerprint unlocked, key unlocked, password
unlocked, and smart card unlocked. The new innovation product that has in Nouvelle Smart
Keyless Door Lock are face id, nouvelle app unlock and emergency power supply. There are
three main components that enable a smart lock to work which are the mechanical lock which
locks the door, the interface (a keypad for a native smart door lock, or wires running to an
electric strike and a smart device) and digital keys (smartphone app).

The features of Nouvelle Smart Keyless Door Lock are wireless communication,
remote management, battery life, and biometric lock.

i. Wireless Communication
Wireless communication is a key feature of Nouvelle Smart Keyless Door Lock. This
product commonly works with Bluetooth and Wi-Fi networks. This improves lock-to-
system signal transfer, and the wireless ecosystem might include smartphones
(Nouvelle Application), home automation controllers, and alarm systems.

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 ii. Remote Management
Using this technology, it can use a remote-control device (Nouvelle Application) to
remotely lock or open the door as well as set alarms and change passcodes from afar.
Remote access works well in high-security business and other industrial settings.

iii. Battery Life

Nouvelle Smart locks need a source of power and typically run on batteries. Battery
life needs to be considered considering performance vectors like temperature, traffic
flow and the number of times the lock is accessed remotely. Other considerations
include what background functions are running and the inclusion of a power-saving
mode. The longer your battery life, the better. Nouvelle Smart Keyless Door use the
12V (8’AA batteries) and it has battery compartment and remove all batteries and
restore.

iv. Biometric Lock

A biometric lock is a locking system for doors and safes that uses biometric technology
like fingerprint, facial recognition and smart card unlock. Biometric fingerprints work by
using a fingerprint scanner system which gets and then stores the image of the pattern
of the fingerprint. Facial recognition technology by positioning the eye in front of a
scanner. This product offers excellent convenience and security, are hard to hack, and
cannot be replicated.

Table 3.2: Nouvelle Smart Door Lock Feature and Description

Features Description
Model Nouvelle
Material Stainless Still
Size 335mm(H) x 70mm(W) x 19mm(T)
Suitable for Door Slim panel suitable for all Wooden Door and Metal
Door
Functions Fingerprint Unlock, Mechanical Key Unlock,
Password Unlock, Smart Card Unlock and Face ID
and Emergency Power Supply
Working Voltage 12V (8”AA Batteries)
Fingerprint Sensor Semiconductor Sensor
Data Capacity Unlimited
Batteries Life Support normal use for one year

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4.0 MARKET SURVEY AND STRATEGIES

4.1 Market Survey

A market survey is an instrument for gathering a target audience by distributing

questionnaires using Google Forms and to see expectation if this innovative product
can solve problems and improve the lives of people. It also enhances the Nouvelle
company by understanding the end-user experience needs and prioritizing a target
respondent to broaden the market reach, even though the process is time-consuming
and difficult. Besides, conducting a market survey helps to discover opportunities or
identify demand for products whether the product innovation is possibly accepted by
the market, as well as the amount of price intent customers are willing to spend on
these products. Additionally, the market survey also measures the satisfaction of
respondents on these products. The data was collected using an online survey on
Google Forms which has 3 sections, including Section A for the respondent’s
background, Section B for the Respondent’s Perspective which are some questions
using the Likert scale approach, and Section C for Respondent’s Suggestion.
Therefore, the total number of questions for respondents is 15 and showed at the
appendix’s segment.

From the survey that was conducted, majority of the respondent included Malay
73%, Chinese 16.2%, and Indian 10.8% respectively. The result of the survey provides
people who worked in the private sector with 48.6%. Nearly a third of respondents are
self-employed while the government sector is only 18.9% while the others are students
with 2.8%. Household income is one of the aspects that need to be considered as a
significant market survey to the innovation of the Smart Door Lock product. This is
because, on average, the household has an income majorly RM4,851 to RM10,970
per month with 35.1% based on the Department of Statistics Malaysia (2019). The
second most household income in response has been above RM2,500 with 32.4%.
The least household income is 8.1%.

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 Based on the market survey, 59.5% responded have some knowledge about
smart door locking in general and while 40.5% responded did not know. Besides,
83.8% had problems with mechanical key locks while 16.2% were not having any
problems when opening the door. Besides, most of the respondents, 66.7%, have a
problem with mechanical keys that are often lost and the broken key (57.6%). Then,
the respondents stated (3%) that keys were difficult to carry because of heavy or many
types of keys need to bring, and the others (3%) were always exchanged with another
key. The majority of respondents prefer to agree in producing innovative from
mechanical key lock to smart keyless door lock with 45.9%. 17 respondents agreed
that these products need an advantage for the users with technology features such as
Fingerprint unlock, Key Unlock, Password Unlock, Smart Card Unlock, Face ID,
Nouvelle Apps Unlock and Emergency Power Unlock.

Overall, the respondents in this online survey prefer buying Nouvelle products
with 89.2% and 10.8% of the respondents not willing to buy this product. This is
because the majority of the respondents (73%) prefer high security in purchasing a
Nouvelle Smart Keyless Door Lock which focuses on the problem faced by people
such as the risk of intruders and burglar that break in the door. The second aspect that
was important to the respondents was various technology features with 64.9% and
product price (35.1%) will be reasonable in the market. Other than that, 2.7% prefer
the durability of the product as an important aspect when purchasing a Nouvelle Smart
Keyless Door Lock.

4.2 Customer

The main target market for this product is homeowners since it is important to people
who prefer high-security homes which are faced by people such as the risk of the
occurrence of burglary. Others target market considered were property managers and
Airbnb Hosts. These products are suitable for various groups of all ages regardless of
gender. From the survey, the total of respondents that received is 37 responses and
shown 48.6% male, 51.4% were female and most of them are 18 to 29 years old
(45.9%). This innovative product fully supports saving energy and people can use our
product every day to make the places feel safe. However, because our keyless door
lock product comes with too many innovative features, the price of the door key lock is
considered a bit high.

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 The data survey shows that most people agree to sell this product in the current
market based on a reasonable intent price. The most reasonable price for this product
that respondents chose was between RM 601 to RM 900 (45.9%). The price between
RM 901 to RM 1,200 is unreasonable because this product is still in the innovation
process and high risk to price starting. So, we targeted customers, property managers
and Airbnb Hosts and who have earned more income to buy this product.
.
4.3 Market Size and Trends

The market size is made up of the total number of potential buyers of a product and
service within a given market and subsequently, the total revenue from sales may
generate including the share held by rivals. According to the Department of Statistics
Malaysia (2019), the size of the total potential market of our product is targeted
customers from homeowners, property managers and Airbnb hosts which are 4.37
million customers estimated. About 1% of 4.37 million buyers were 43,700 customers
targeted in 2023 and the price of Nouvelle Smart Keyless Door Lock is RM 899.90 per
unit. The potential annual growth of the total market for the Nouvelle Smart Keyless
Door Lock product is RM 899.90 x 43,700 customers = RM 39,325,630.

Our sales product will be increased within three years from the year 2023 to
2025 based on the demand of the market. From the 4% of market size in 2025, we
considered the target market are 174,800 customers with RM 157,302,520 of total
market size for our product as well as they would buy our products throughout our
marketing commercialization such as event marketing, E-Commerce, and Social
Media Platform. Table 4.1 below shows the total market size for the next years until
estimates done for a three-year period.

Table 4.1: Market Size for Nouvelle Smart Keyless Door Lock in (2023 -2025) period
Year 2023 2024 2025
Market Size (%) 1% 2% 4%
Target Market 43,700 87,400 174,800
Total Market Size RM 39,325,630 RM 78,651,260 RM 157,302,520

Nouvelle Smart Keyless Door Lock product is RM 899.90 per unit.

Total market size in 3 years period = RM 39,325,630 + RM 78,651,260 +
RM 157,302,520
= RM 275,279,410

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 4.3.1 Factor affecting Market Growth of Nouvelle Smart Keyless Door
Lock

The market trends for our product are based on several factors which generally
come from the needs of customers who have faced issues with home safety.
Based on the survey, the majority of people always have a problem with losing
mechanical key locks or broken compared who have Nouvelle Smart Keyless
Door Lock products where there is no more need for 'emergency keys' to hide
the extra key under the rug or the flowerpot or if someone/friends coming to the
home when they on work, they can just give someone/friends a code and
disable as soon as the friends’ work is done. Besides, people prefer to agree
on this innovative product needs an advantage for users that shifts from a
mechanical key to a smart keyless door lock. It is upgraded based on
technology trends features such as Nouvelle Apps Unlock, Face ID Unlock, and
Emergency Power Unlock. Hence, this innovative product will be a success if
we introduce it to the users.

4.4 Competition

Table 4.2: Comparison between competitors' strengths and weaknesses

imt eufy
ULTRALOQ U
Products Smart Door Lock Security S330
Bolt Pro
1S Video Smart Lock
Connect to imt
Auto unlock and User friendly app,
Strengths/ Ecosystem and
unlock speed within and have a local
Quality Unlock History
0.3 seconds video storage
Monitoring via App

Motion detection
The design is old
sometimes delayed
fashioned and
by a couple of
Weaknesses High price Emergency Power
seconds and the
for Micro-USB user
product only offered
only
in black

Prices RM 1,500.00 RM 720.00 RM 1,585.00

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4.5 Market Share and Sales

Market share is the percentage of an industry market’s total revenue that is earned by
a particular company over a specific time period. It can be determined by dividing its
total sales by the industry’s total sales over a fiscal period. The table below shows that
the total market share and total sales between competitors same as well as product of
Nouvelle smart keyless door lock before the entry market.

4.5.1 Market share before the entry of Nouvelle Smart Keyless Door

Lock

Table 4.3: Market share before the entry of Nouvelle Smart Keyless Door Lock
eufy
imt
ULTRALOQ U Security
Competitors Smart Door Total
Bolt Pro S330 Video
Lock 1S
Smart Lock

Market
40% 40% 20% 100%
Share (%)

Total Market
RM 308,855 RM 76,300 RM 504,282 RM 889,437
Share (RM)

4.5.2 Market share after the entry of Nouvelle Smart Keyless Door Lock

Table 4.4: Market share after the entry of Nouvelle Smart Keyless Door Lock
eufy Nouvelle
imt Security Smart
ULTRALOQ
Smart S330 Keyless
Competitors U Total
Door Video Door
Bolt Pro
Lock 1S Smart Lock
Lock
Market
35 40 15 10 100
Share (%)
Total Market
308,855 76,300 504,282 3,932,563 979,427
Share (RM)

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 Based on Table 4.4, our market share in the first year is expected 10%
and the total market share is RM 3,932,563. Market shares for our product are
assumed 30% for 2024 which increase from 10% in 2023. The total market
share for 2024 is RM 23,595,378 based on 20% annual sales increments from
our product in 2022. Next, the increment is 30% from 2024 which is 50% in
2025. Hence the total market share for 2025 is RM 78,651,260 (Refer to Table
4.5).

Table 4.5: Total Market Sales for Nouvelle Smart Keyless Door Lock
Year Market Share Total Market Share
2023 10% RM 3,932,563
2024 30% RM 23,595,378
2025 50% RM 78,651,260

4.6 Marketing Strategy

4.6.1 Overall Marketing Strategy

The term "marketing strategy" refers to a business's entire plan for reaching
out to potential customers and persuading them to buy their goods or services.
The marketing strategy includes high-level components including the
company's value proposition, key brand messaging, and demographic
information about the target market. As part of our marketing plan, we will make
every effort to grab consumers' attention, pique their curiosity about the
product, and demonstrate how well it suits the market. Before we launch our
items, plans and tactics are crucial measures that must be considered carefully.
We must comprehend the requirements and preferences of our clients. As a
result, it must be created and assembled entirely, including a description of the
product, instructions for usage, and a list of its advantages. Customers will
therefore be interested in and purchase our products as a result. To better our
business marketing approach, the group will occasionally gather and have
discussions. Additionally, a marketing strategy is crucial for achieving business
objectives.

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4.6.2 Pricing

For product prices, we will make sure our products have the best and affordable
prices in the market. The prices we determine are based on the survey market
revealed through survey surveys. The price determined is based on the
majority of customers who ensure it is affordable, which is RM 899.90. Next,
the price of this product will also change in the future with the improvement and
upgrading of technology.

4.6.3 Service and Warranty Policy

Our products come with a one-year warranty that starts the moment the
customer buys them. Additionally, the client can contact the business directly
for a refund or exchange if the product has any issues, failures, or damages,
but only under specific terms and with supporting documentation. We'll do
everything in our power to give our clients the best service possible and
guarantee their total satisfaction with both our services and goods. Customers
can also use our website as a resource for further action.

4.6.4 Advertising and Promotion

We shall advertise our items in a commercial manner through advertising and

marketing. According to the times, we will utilize a variety of online platforms,
including social media (Facebook, Instagram, TikTok), e-commerce platforms
(Shopee, Lazada, Carousell, etc.), and our official website. Every aspect of our
products, including any special offers, will occasionally be updated throughout
all social media platforms. Advertising and promotion will be handled by
dedicated staff members. We also made the decision to create a brochure that
would be made available to the general population. Next, we'll have ready
banners, signage, and even business cards that can advertise our items. In
order for people to understand the importance of our smart keyless door lock
and be interested in purchasing it, we will use every available means to
promote our product.

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 4.6.5 Distribution

In terms of physical distribution, we will send our goods straight from our facility,
where they are made, to the merchant. Customers can purchase goods through
any channel we choose, including our own website, Nouvelle Smart Keyless
Door, "Shopee," "Lazada," and others. The top couriers, such "City Link
Express" or "J&T Express," will be used to transport our products to clients for
posting. Customers who want to purchase anything physically will therefore
only work with stores, whilst customers who want to purchase something online
will work with us. Every order will be delivered to the customer, and we'll make
sure they're happy with our service.

5.0 MANAGEMENT TEAM

A management team consists of individuals who direct and supervise the operations of an
organization. It is responsible for establishing the organization's direction, making vital
decisions and ensuring that its goals are achieved (Dheeraj, 2023). According to Indeed
(2022), a management team is a collection of high-level associates hired by a business owner
to assume crucial responsibilities within the organization. These individuals comprise the
highest levels of management within a company or business, and each specializes in a distinct
aspect of business management, such as accounting, marketing, sales, business strategy and
operations.

According to Dheeraj (2023), a management team create a comprehensive strategic

plan defining the organization's goals and objectives as well as its strengths, weaknesses,
opportunities, and threats along with a plan of action for accomplishing those goals. It
allocates resources like money, time, and people. Furthermore, it must ensure that the
organization's operations are efficiently administered to maximize productivity, reduce
costs, and enhance overall performance which includes developing a positive work
environment, establishing good employee relationships and promoting a culture of innovation
and continuous improvement. In a business strategy, the functions of a management team
are essential in terms of organizing, leading and directing to the organization's success (Refer
to Figure 5.1).

17

Organizing:
It is responsible for
organizing the resources
needed to achieve the
organization’s goals. This
includes managing people,
financial, and physical
resources such as
Figure 5.1: Function of Management Team
equipment and facilities.
Leading:
It provides leadership and
direction to the organization.
They motivate and inspire
employees to achieve their
best, communicate the
organization’s vision and
values, and provide
guidance to help employees
develop their management
team skills and abilities.
Directing:
It provides direction to
employees, assigning tasks
and responsibilities and
setting expectations for
performance. They also give
feedback to employees on
their performance and coach
them to improve.

Figure 5.1: Function of Management Team

5.1 Organization Chart

There are six (6) main roles in the key management for Nouvelle Sdn. Bhd organization
which are Chief Executive Officer, Chief Product Officer, Chief Strategy Officer, Chief
Marketing Officer, Chief Technology Officer and Chief Financial Officer (Refer to Figure
5.2).

18
Figure 5.2: Organization Chart of Nouvelle Sdn. Bhd

19
5.2 Key Management Personnel

Key management personnel allude to those who occupy key executive positions and
are typically a part of the senior leadership team. It has influence over an organization's
strategic direction, decision-making and financial management. This subtopic will
describe a career highlight as well as duties and responsibilities of management team.

5.2.1 Career Highlight

Table 5.1: Career Highlight of Management Team

Name and Job Position Career Highlight

Education:
✓ Diploma in Accounting, Universiti Teknologi
MARA.
✓ Bachelor of Accounting (Hons), Universiti
Sains Malaysia.
✓ Master of Business Administration, Universiti
Malaya.
✓ PHD of Business Administration, Universiti
Muhammad Danial Afif Bin Malaya.
Rosli Skills:
(Chief Executive Officer and ✓ Excellent planning and time-management
Chief Financial Officer) abilities.
✓ Orientation toward analysis and problem-
solving.
✓ Excellent communication and leadership
abilities.
✓ Understanding of the rules of governance
practices, finances and performance
management.
✓ Practical knowledge about financial
management.
Experience:
✓ Sales Manager (3 years of experience).
✓ Gold Manager at Bank Muamalat (2 years of
experience).
✓ Certified Public Accounting.

20
 ✓ Experienced in financial, developing,
planning and implementing successful
strategies.

Education:
✓ Diploma in Business Administration,
Universiti Teknologi MARA.
✓ Bachelor of Human Resource Management
(Hons), Universiti Sains Malaysia.
✓ Master of Science Human Resource
Management, Universiti Sains Malaysia.
Skills:
Nur Shifa Natasya Binti ✓ Strong interpersonal skills.
Mohamad Zamri ✓ Creativity and teamwork abilities.
(Chief Product Officer) ✓ Excellent presentational, written and spoken
communication abilities with client.
✓ Have a strategic strategy for your products
✓ Maintain sensitivity to users and consumers.
Experience:
✓ Operation Director BRBD Engineering Sdn.
Bhd (2 years of experience).
✓ Experienced for quality assurance, delivery,
service and product management.

Education:
✓ Diploma in Business Management, Universiti
Utara Malaysia.
✓ Bachelor of Entrepreneurship (Hons),
Universiti Utara Malaysia.
✓ Master of Science (Statistic), Universiti Utara
Malaysia.
Skills:
Muhammad Alif Haikal Bin ✓ Excellent planning and time-management
Azian abilities.
(Chief Strategy Officer) ✓ Have a strategic strategy for your products.
✓ Budget-conscious attitude.
✓ Mindset for tackling issues.

21
 Experience:
✓ Strategy Director for Malaysian Investment
Development Authority (1 year of
experience).
✓ Experienced for supervising production,
distribution, inventory and compliance.

Education:
✓ Diploma in E-Marketing, Universiti Teknologi
Malaysia.
✓ Bachelor of E-Marketing, Universiti
Teknologi Malaysia.
✓ Master of Multimedia Studies, Universiti
Sains Malaysia.
Skills:
Muhamad Danish Shafiq bin ✓ Knowledge of the latest technology
Shakir advancements that could be advantageous
(Chief Marketing Officer) to the business.
✓ Roles and responsibilities within the IT
department.
✓ Outstanding leadership abilities.
✓ The capacity to perform under time pressure
Experience:
✓ General Manager for MHA Marketing
Services Sdn. Bhd (4 years of experience).
✓ Experienced for development, IT and
marketing.
✓ Influencers for designing at Youtube,
Facebook, Instagram and TikTok.

Education:
✓ Dipoloma in Science of Economics,
Universiti Teknologi MARA
✓ Bachelor of Science in Information
Technology (Hons), Universiti Teknologi
Malaysia

22
 ✓ Master of Science in Information
Technology, Universiti Malaya
✓ Skills:
✓ Excellent time-management and organising
skills.
✓ Comprehensive understanding of large data
analysis.
✓ Outstanding presentation abilities.
Muhamad Afif Najmi Bin
✓ Practical knowledge of applications such as
Mohamad Nasir
Google Analytics, Google Adwords,
(Chief Technology Officer)
HubSpot, WebTrends and SalesForce,
✓ Knowledgeable in the use of applications like
Illustrator, Dreamweaver, Fireworks, Visio
and Photoshop outstanding presentation
abilities.
Experience:
✓ Information security specialist for 5 years.
✓ Used low-cost strategies and techniques to
sell the goods and services on the internet
using platforms like Google Adwords, social
networking sites, and customised content
positioning.

23
5.2.2 Duties and Responsibilities

Table 5.2: Duties and Responsibilities of Management Team

Job Scope of Work
Position

Chief ✓ Together with other executives and the board of

Executive directors, establishes short- and long-term goals as
Officer well as related plans and policies.
✓ Oversees the financial framework of the firm, ensuring
sufficient and reliable finance for the mission and
objectives of the business.
✓ Examines the financial results of all operations,
comparing them to the company's goals and taking the
necessary action to improve performance and results.
✓ Represents the business before the board of directors,
shareholders, employees, clients, the governing body,
and the public.
✓ Ensures that the business complies with all relevant
laws, rules, regulations, and standards.
✓ Negotiates with other businesses about transactions
like mergers, purchases, or joint ventures.

Chief ✓ Create a vision and determine the product's strategic

Product path in alignment with consumer needs, company
Officer growth, and overall technology strategy.
✓ Create product requirements and roadmaps that
consider factors including viability, cost, impact, and
time.
✓ Create measurements and KPIs to evaluate the
products' success and pinpoint areas that require
improvement.
✓ Own and oversee the whole product lifecycle including
partnership development and product launch.
✓ Utilize data analysis and research to gain a thorough
grasp of user and consumer demands.
✓ Drive innovation and scalable practises for the product
development cycle.

24
 ✓ Establishing, putting into practise, and maintaining
Chief
security procedures and policies, identifying and
Strategy
minimising risks and limiting exposure to legal,
Officer
physical and financial risks.
✓ Ensuring that the business complies with all applicable
local, national, and international laws, particularly
those pertaining to privacy, health and safety.
✓ Implementing and overseeing strategies to identify and
minimise risk, safeguarding the organisation and its
assets, crisis management.
✓ Executing security management strategies and
conducting research to help keep the firm secure.
✓ Work with the teams responsible for sales,
Chief
development, and customer success.
Marketing
✓ Keep an eye on the marketing budget Regularly
Officer
monitor KPIs and give reports.
✓ Make and deliver the annual marketing strategy and
plan.
✓ Analyse the marketing plan of the organisation and
make suggestions for changes.
✓ Keep up with the newest technological developments.
✓ Keep abreast on the most recent best practises.
✓ Attend marketing symposiums and training sessions.
✓ Create, organise, and carry out successful marketing
programmes.

Chief ✓ Develop technical parts to ensure the company's

Technology strategy is in line with its commercial objectives.
Officer ✓ Facilitate departments' profitable utilisation of
technology.
✓ KPIs and IT spending should be tracked to evaluate
technological performance.
✓ Create processes for quality control and data
protection.
✓ Share the technology plan with investors and partners.
Utilize stakeholder feedback to inform essential
technological advancements and modifications.

25
 ✓ Watch over all finance staff.
Chief
✓ Create trustworthy forecasts and current reports.
Financial
✓ Analysed the organization's liabilities and investments
Officer
to perform risk management.
✓ Control and assess the capital structure and
fundraising strategies of the organisation.
✓ Make sure the company has adequate cash flow for its
operations.
✓ Make investment decisions while taking cash and
liquidity risks into account.
✓ Establish and manage the company's financial IT
system. Ensure that all rules and regulations are
followed.

5.3 Management Compensation and Ownership

Management compensation and ownership are interdependent factors that play a

crucial role in aligning the interests of key management personnel with the
organization's long-term success. In this section, it will emphasize the management
compensation and ownership which specifics of the components pertaining to
compensation, monthly salary, ownership share, equity invested and compensation for
each of the managers and staff members.

26
5.3.1 Salary, Share Ownership and The Amount of Equity Investment

Table 5.3: Salary, Share of Ownership and Amount of Equity Invested for
Management Team
Name and Job Monthly Share of Amount of
Position Salary Ownership Equity Invested
(RM) (%) (RM)

Muhammad Danial
RM 10,000 30% RM 300,000
Afif Bin Rosli
(Chief Executive
Officer and Chief
Financial Officer)

Nur Shifa Natasya

RM 6,000 14% RM 84,000
Binti Mohamad Zamri
(Chief Product Officer)

Muhammad Alif Haikal

RM 6,000 14% RM 84,000
Bin Azian
(Chief Strategy
Officer)

Muhamad Danish
RM 6,000 14% RM 84,000
Shafiq bin Shakir
(Chief Marketing
Officer)

Muhamad Afif Najmi

RM 6,000 14% RM 84,000
Bin Mohamad Nasir
(Chief Technology
Officer)

Total RM 636,000

27
5.3.2 Remuneration of Management Team and Workers

Regarding the remuneration for each manager and employee, the monthly
salary is used to calculate Employees Provident Fund (EPF) and Social
Security Organization (SOCSO). EPF compensation can reach up to 9% while
SOCSO compensation can reach up to 1.75% (Refer to Table 5.4).

Table 5.4: Remuneration of Management Team and Workers

Name and Job No. of Monthly EPF SOCSO Total
Position Workers Salary 9% 1.75% Amount
(RM) (RM) (RM) (RM)
Muhammad Danial
Afif Bin Rosli 1 RM RM RM RM
(Chief Executive 10,000 900 175 11,075
Officer and Chief
Financial Officer)
Nur Shifa Natasya
Binti Mohamad 1 RM RM RM RM
Zamri 6,000 540 105 6,645
(Chief Product
Officer)
Muhammad Alif
Haikal Bin Azian 1 RM RM RM RM
(Chief Strategy 6,000 540 105 6,645
Officer)
Muhamad Danish
Shafiq bin Shakir 1 RM RM RM RM
(Chief Marketing 6,000 540 105 6,645
Officer)
Muhamad Afif
Najmi Bin 1 RM RM RM RM
Mohamad Nasir 6,000 540 105 6,645
(Chief Technology
Officer)
Workers 400 RM RM RM RM
1,500 135 26.25 664,500

28
 Total RM
702,155

5.3.3 Supporting Services

Participation of professional advisors or services to ensure the success of the

'Nouvelle Smart Keyless Door Lock' development project. It is crucial that these
parties participate to provide precise support for the project's development and
implementation (Refer to Table 5.5).

Table 5.5: Supporting Services of Company

Business Service Service Provided

Financial Advisors or ✓ Providing guidance to clients in determining their

Consultation expenses, income, insurance coverage, financial
objectives, tax status and risk tolerance as well
as other information required to develop a
financial plan.
✓ Assist in achieving financial objectives by
advising clients on financial planning strategies,
product advisory, cash flow management,
investment planning, and wealth protection.
✓ Responding to and explaining client inquiries
regarding financial plans and strategies, as well
as providing financial advice.

Software Cloud based sales platform (Microsoft)

Network & Internet connection (Telekom Malaysia TM)

Communications

Finance Financial Bond issuance (MAYBANK)

Accounting Structure in account processing to enhance

communication during the accounting phase (Ernst &
Young Global Limited).

Insurance Workers compensation insurance (AIA Berhad).

29
 Quality of Life Related to employee quality of life such as medical
(Medilink-Global).

Training Onsite defensive computing training (SIRIM Training

Service).

Advertising Creating, planning and production of advertisements

and commercials (Youtube, Facebook, Instagram and
Tiktok).

6.0 FINANCIAL ESTIMATES

Financial planning is the process of estimating the capital required to achieve the business
activities of the organization. That is the process of formulating monetary policy in relation to
the provision of assets, investments, and management of organizational funds. Financial
planning means the definition of financial goals, the development of financial plans and their
implementation by the realization of financial activities related to decision-making in terms of
assets, loans, insurance, investments, and necessary property, then the preparation of
financial statements, assessment of results and control of the realization of plans
(Grozdanovska et al 2017).

Next, financial estimation is a process used in a business to get an idea of the expected
expenses and income over a certain period of time. This financial budget helps businesses
plan their finances and make informed decisions about where to allocate resources. In
addition, financial budgets can help businesses determine how profitable they are compared
to their competitors (Faster Capital, 2023). In making a good financial budget, there are
several elements to consider such as start-up costs, working capital, start-up capital and
financing.

30
i. Start Up Costs
Start-up costs are expenses incurred during the process of starting a new business
(Kuligowski, 2023) (Refer to Table 6.1).

Table 6.1: Start Up Costs

A. Start Up Costs Amount (RM)
Capital expenditure (Administrative)
Land and building (Rent) RM 10,000.00
Office equipment RM 8,000.00
Office furniture RM 10,000.00
Office Renovation RM 7,000.00
Vehicle (Van) RM 18,000.00
Total RM 53,000.00
Capital Expenditure (Operation)
Machinery and Equipment RM 80,000.00
Factory Renovation RM 10,000.00
Total RM 90,000.00
One-Time Start Up Expenditure
Permit and Licenses RM 2,000.00
Branding, identity package and promotional materials RM 4,000.000
Professional fees RM 6,000.00
Starting inventory costs RM 50,000.00
Office supplies RM 1,000.000
Total RM 63,000.00
On Going Expenditure
Rent and Utilities (Deposit) RM 8,000.00
Insurance payment and road tax van vehicle RM 5,000.00
Pay roll RM 702,155.00
Total RM 715,155.00
Start Up Costs RM 921,155.00

31
ii. Working Capital
Working capital, also called net working capital, represents the difference between a
company’s current assets and current liabilities (Fernando, 2023) (Refer to Table 6.2).

Table 6.2: Working Capital

B. Working Capital Amount (RM)
Marketing (Month)
Advertising RM 4,000.00
Delivery Expenses RM 2,000.00
Commision RM 7,000.00
Total RM 13,000.00
Administrative (Month)
Salaries & Wages and EPF & SOCSO RM 37,655.00
Rent RM 10,000.00
Utilities RM 8,000.00
Office Supplies RM 1,000,00
Insurance RM 5,000.00
Office Maintenance RM 1,000.00
Total RM 62,655.00
Operation (Month)
Salaries & Wages and EPF & SOCSO RM 664,500.00
Factory Maintenance RM 10,000.00
Purchases of Material RM 8000.00
Total RM 682,500.00
Total Working Capital RM 758,155.00
Total Working Capital + Contingencies (10%) RM 833,970.50

32
 iii. Start Up Capital and Financing
Startup capital is the money raised by an entrepreneur to underwrite the costs of a
venture until it begins to turn a profit (Kopp,2021). According to Hayes (2023), financing
is the process of funding business activities, making purchases, or investments (Refer
to Table 6.3).

Table 6.3: Start Up Capital and Financing

C. Estimated Start Up Capital Amount (RM) Sources of
Financing
Start Up Costs RM 921,155.00 Cash / Hire
Purchase
Working Capital RM 758,155.00 Cash / Hire
Purchase
Provision for Contingencies (10%) RM 75, 815.50 -
Annual Interest Rate on Loan (5% with RM 60,000 -
loan period 5 year (If required)
Total RM 1,815,125.50 -

7.0 PROJECT MILESTONE

A project milestone is a significant event or achievement that represents a key point in a

project's timeline for the Nouvelle Smart Keyless Door Lock Project. It serves as a reference
point to track progress, mark the completion of important deliverables, and assess the overall
advancement of this project. Project milestones are typically associated with specific
objectives, tasks, or outcomes and are used to measure the success of the Nouvelle Smart
Keyless Door Lock project. In the other hand, the project milestone also purposed to ensure
that all the process in making or produces the product on Nouvelle Smart Keyless Door Lock
to be able to be produced and sell to the consumer based on the determined period.

In terms of Nouvelle Smart Keyless Door Lock, there are twelve (12) activities that
considered as a project milestone which acknowledge as; incorporation of the venture, the
analysis of product and consumers perception, completion design and development,
completion of prototypes, obtaining of sales representatives, signing of distributors and
dealers, ordering of materials in productions quantities, staring of production or operations,
receipts of first orders and delivery of first sales. (Refer Table 7.1).

33
Table 7.1: Project Milestone of Nouvelle Smart Keyless Door Lock
Activities Deadlines

Incorporation of the Venture 5th May 2023

Analysis of Product and Consumer’s Perception 21th May 2023

Completion Design and Development 16th June 2023

Completion of Prototypes 29th June 2023

Obtaining of Sales Representative 3rd July 2023

Signing of Distributors and Dealers 11th July 2023

Ordering of Materials in Productions Quantities 21th July 2023

Starting of Production or Operations 30th July 2023

Receipt of First Orders 18th August 2023

Delivery of First sales 1st September 2023

Product Promotions On Going

Overall, project milestones provide important markers of progress, enabling project teams and
stakeholders to assess the project's success, manage dependencies, and make informed
decisions to ensure project objectives are met.

34
8.0 CONCLUSION

In conclusion, the Technology-based Business Idea Blueprint (TBIB) Report highlights the
significant potential and opportunities for expansion in the Nouvelle Smart Keyless Door Lock
market. The growing demand for smart home security solutions, coupled with advancements
in technology, makes this an ideal time to invest in the expansion of the product.

By capitalizing on market growth, enhancing features, integrating with existing

systems, and offering customization options, entrepreneurs in the smart keyless door lock
industry can tap into a wide customer base and cater to diverse needs and preferences. The
report emphasizes the importance of continually improving security features to stay ahead of
potential threats and gain the trust of customers.

Nouvelle Smart Door Locks are one of the most fundamental security mechanisms for
homeowners, property managers and Airbnb hosts. The goal of this project was to provide an
easy and convenient method for unlocking a front door by removing the need for old fashioned
keys. We start by evaluating the need for such a product by sending the survey and analyzing
the results from the questionnaire. This project presents a prototype smart door lock which
can be used to enhance the security of a door. The innovation of this product is Nouvelle App
that offers the user a range of settings and control for devices and the system. This product
has Face ID that 3D faces live detection and high precision restoration of modelling and
emergency power supply by making contact between the 9V emergency battery and the
terminal. In the future there can be a smart keyless door lock to give access to the guests
when they unlock the door with a variety of features.

Overall, the blueprint entrepreneurship report concludes that the Nouvelle Smart
Keyless Door Lock industry offers ample opportunities for expansion, provided entrepreneurs
stay proactive in their approach, conduct thorough market research, and continually innovate
to meet evolving customer demands.

35
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Fernando, J. (2023). Working Capital: Formula, Components and Limitations. Investopedia.

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Grozdanovsk, V. et al (2017). Financial Management and Financial Planning in the Organization.

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Hayes, A. (2023). Financing: What It Means and Why It Matters. Investopedia. Retrieved 2023
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