Smart Light Switches: IoT Product Report, Business Plan, and Strategy

This report provides a comprehensive overview of a smart light switch, an IoT product designed for the Australian market. It begins with an introduction and a brief description of the product, highlighting its features such as voice and smartphone control, WiFi connectivity, and integration with smart ho...Read More

Running head: SMART LIGHT SWITCHES
SMART LIGHT SWITCHES
Name of student
Name of university
Author’s note:

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Table of Contents
Introduction....................................................................................................................2
Discussion......................................................................................................................2
Description of the IoT product...................................................................................2
Ownership structure...................................................................................................3
Fund raising process...................................................................................................3
Purpose of obtaining ABN.........................................................................................4
Approach to government body...................................................................................4
Economic state of Australian market.........................................................................5
Factors considered......................................................................................................5
Conclusion......................................................................................................................5
References......................................................................................................................7

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Introduction
This report aims to discuss the IoT product that is designed for providing the
customers of Australia. The product that has been built is the Smart light switches. The IoT
product is described briefly in this report. The ownership structure is briefly described in this
report along with an explanation of the choice. The process that would be involved in the
raising money for starting the business is provided in this report. The purpose of obtaining the
ABN is briefly discussed in this report along with the steps involved in obtaining the ABN is
stated in this report. The government body that would be approached for gaining assistance in
gaining the manufacture overseas manufacture of the product organised along with the
economic state of the market of Australia is briefly stated in this report. Lastly this report
concludes with an appropriate conclusion for the report.
Discussion
Description of the IoT product
The smart light product is the IoT technology that enables the controlling of any
devices that is connected to any switch with the help of voice or any smartphone app. This
device could be used for controlling the lights, switch controlled fireplaces, bathroom lights,
ceiling fans, and it could be used for controlling the garbage disposal (Kumar 2014). The
smart switch works with the help of the WiFi connectivity that integrates the smart switches
in the connected smart home (Ur et al. 2014). It also comes with the added features of choice
of creating the custom schedules for turning off the switches or turn on the switches manually
using the smartphone even when the individual in not in home (Yassein, Mardini and Khalil
2016). The product could be used for selecting the smart dimmer switches for increased
precise control of the lighting in bedroom, kitchen, dining room and the living room
(Chandramohan et al. 2017).

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Ownership structure
The ownership that has been selected is the partnership as this business partnership
model provides the opportunity of entering in the business with the individual without any
kind of perceived formality of any limited company (Chen et al. 2014). The partnership
allows the agreeing to develop the partnership in writing or verbally. There is no requirement
of the registering with the business partnership for the taxation with the higher bodies. As
compared to the executing any business as the sole trader, the working in business
partnership could be beneficial from the mutual support and the companionship. It would
help in developing and managing the business and sharing all the tasks equally and execute
the tasks in shorter period of time. As the partnership would help in sharing the tasks of the
business, it would be helpful in executing the tasks with increased specialisation that would
help in starting the business with accuracy and efficiency. The partnership could help in
starting the business with increased privacy and authenticity. As compared to the limited
company, the affairs of the partnership business could be kept entirely confidential by
partners (Aguilera and Crespi-Cladera 2016). In the limited company, specific documents are
always available for the public inspection at the shareholders of the company and the
shareholders hold the power of selecting the specific aspects for inspecting the various
registers and any other documents that is required to be kept in the company.
Fund raising process
As both the partners possess the houses, it could be utilised for securing the loans and
start the small business. As the business is just starting to setup, the small business loans
could be the most appropriate solution for supporting the growing business and the it could
be used for finance hiring, the office space or any kind of equipment (Sargeant and Jay 2014).
The collateral for the loans could be the real estate. The partners could use the personal assets
for gaining the approval for the loan specifically while running the business from their home.

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This loans scheme has been specifically chosen because it provides several advantages that
are not offered in other loans. Some of the common benefits of collateral loan are the lower
interest rates, improved payment terms, as well as gain the leverage for any kind of
negotiation (Weinstein and Barden 2017).
Purpose of obtaining ABN
An ABN is required for planning to carry out the business for any purpose of
obtaining any kind of profit. It is required by the law to specifically register with ATO. The
ABN allows ATO to maintain the track of all the companies that are trading in the Australian
market (Bell and Hindmoor 2014). There are some steps that are required to be followed for
gaining the ABN and it includes:
 Free applying for the ABN using the online application
 Answer series of question for ensuring the eligibility of the activity for the ABN
and then obtaining it
 Personal information is required to be added
 Receive the ABN in almost 28 days on the postal address that is provided in the
personal information section
Approach to government body
The government body that is approached to is the Foreign Affairs and Trade of
Australia (McDonald 2015). This governing body might be able to help the business gain the
products organised in the country by helping in implementing the warehouses for assembling
the parts of the products and then approval could be granted for implementing the factory for
making any kind of modification or the effective assembly of the products as it would lead to
the saving of significant cost as the completed products might be susceptible to various kinds
of damage and other issues (Torabi, Soufi and Sahebjamnia 2014). The trading license could

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be provided to the company for allowing the effective business implementation (Beeson
2014).
Economic state of Australian market
This product would be sold to the Australian factories who would be able to combine
the technology with their electronic products and then provide this technology to the
customers of their own. This market is growing exponentially as with the implementation of
new technologies on a daily basis in the recent times, this industry offers the customers with
the enhanced products that would help in improving the lives of the people. As it can be
observed in the Australian government statistics on the Australian economy, there are several
opportunities of growth of the manufacturing industry and it could help the product to
become popular in significantly less time.
Factors considered
The product would be shipped to the overseas customers using the freight transport
and there would be significant addition to the price of the individual switches, and the cost of
the shipping. The estimated cost of the shipping would be almost 15 percent of the complete
revenue and it might increase if there are any kind of damages in the products during
shipping. The Australian GST would affect the prices of the overseas products as there is
implementation of the GST on the shipping of the products that would be added to the price
of the material and therefore, the price is increased.
Conclusion
Therefore, it can be concluded that the Smart light switch could be a success in the
Australian market as it might grow to be increasingly popular among the common people.
The smart light product is the IoT technology that enables the controlling of any devices that
is connected to any switch with the help of voice or any smartphone app. This device could

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be used for controlling the lights, switch controlled fireplaces, bathroom lights, ceiling fans,
and it could be used for controlling the garbage disposal. The smart switch works with the
help of the WiFi connectivity that integrates the smart switches in the connected smart home.
The ownership that has been selected is the partnership as this business partnership model
provides the opportunity of entering in the business with the individual without any kind of
perceived formality of any limited company. The partnership allows the agreeing to develop
the partnership in writing or verbally. There is no requirement of the registering with the
business partnership for the taxation with the higher bodies. As both the partners possess the
houses, it could be utilised for securing the loans and start the small business. As the business
is just starting to setup, the small business loans could be the most appropriate solution for
supporting the growing business and the it could be used for finance hiring, the office space
or any kind of equipment.

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References
Kumar, S., 2014. Ubiquitous smart home system using android application. arXiv preprint
arXiv:1402.2114.
Chandramohan, J., Nagarajan, R., Satheeshkumar, K., Ajithkumar, N., Gopinath, P.A. and
Ranjithkumar, S., 2017. Intelligent smart home automation and security system using
Arduino and Wi-fi. International Journal of Engineering And Computer Science
(IJECS), 6(3), pp.20694-20698.
Chen, V.Z., Li, J., Shapiro, D.M. and Zhang, X., 2014. Ownership structure and innovation:
An emerging market perspective. Asia Pacific Journal of Management, 31(1), pp.1-24.
Aguilera, R.V. and Crespi-Cladera, R., 2016. Global corporate governance: On the relevance
of firms’ ownership structure. Journal of World Business, 51(1), pp.50-57.
Sargeant, A. and Jay, E., 2014. Fundraising management: analysis, planning and practice.
Routledge.
Weinstein, S. and Barden, P., 2017. The complete guide to fundraising management. John
Wiley & Sons.
Bell, S. and Hindmoor, A., 2014. The structural power of business and the power of ideas:
The strange case of the Australian mining tax. New Political Economy, 19(3), pp.470-486.
Torabi, S.A., Soufi, H.R. and Sahebjamnia, N., 2014. A new framework for business impact
analysis in business continuity management (with a case study). Safety Science, 68, pp.309-
323.
McDonald, M., 2015. Australian foreign policy under the Abbott Government: foreign policy
as domestic politics?. Australian Journal of International Affairs, 69(6), pp.651-669.

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Beeson, M., 2014. Issues in Australian foreign policy. Australian journal of politics and
history, 60(2), pp.265-278.
Ur, B., McManus, E., Pak Yong Ho, M. and Littman, M.L., 2014, April. Practical trigger-
action programming in the smart home. In Proceedings of the SIGCHI Conference on Human
Factors in Computing Systems (pp. 803-812). ACM.
Yassein, M.B., Mardini, W. and Khalil, A., 2016, September. Smart homes automation using
Z-wave protocol. In 2016 International Conference on Engineering & MIS (ICEMIS) (pp. 1-
6). IEEE.