Posts Tagged ‘Enterpreneurship’
This paper represents a business plan sample for Product Placement Opportunities®, a marketing services company that provides a platform for medium sized businesses to engage in product placement in a cost-effective manner through its website www.pp-opportunities.com. The business plan is built upon the gap in the in the marketing services industry that relates to allowing media, special event and computer games businesses to utilise their product placement opportunities in a direct manner, without using the services of marketing agencies. The comprehensiveness of the business plan is ensured by explaining mission statement, business strategy and objectives in a detailed manner. The main source of revenue for Product Placement Opportunities® relates to charging media, special event and computer games and other businesses for advertising their product placement opportunities on www.pp-opportunities.com. Price skimming pricing strategy has been chosen as the most suitable for the business. Analysis of principal personnel qualifications and experience contained within the plan highlights the ways in which competitive advantages are going to be derived. Moreover, cash flow forecast, profit and loss accounts forecast and balance sheet associated with the business plan have been developed on the basis of situational analysis and analysing market size for Product Placement Opportunities® services. The business plan also contains discussion related to relevant legal requirements, such as the company’s legal structure, commercial dealings, insurance and others. Glossary of Terms 1 1. Description of Business 2 2. The Mission and Vision Statement 3 2.1 Business Idea 3 2.2 Trading Status 4 2.3 Management & Ownership 4 2.4 Business Objectives 5 2.5 Business Strategies 5 3. Product and/or Service Plan 6 3.1 Product Placement Opportunities® service description 6 3.2 Product Placement Opportunities® Unique Features 7 3.3 Pricing Strategy& Value Issues 7 4. The Market Plan 8 4.1 Market Research Methodology 8 4.2 Secondary Research 8 4.3…
Businesses trading today, including multi-billion multinational corporations have commenced their operations as start-ups and have grown to their current sizes due to a range of reasons, including offering competitive products, and services, engaging in effective marketing exercising strong management etc. Comprehensive study of these success factors is important for new start-ups so that common mistakes can be avoided and chances for success maximised. This article represents a brief critical analysis of the reasons of success and failure of start-ups. The article starts with discussing the major reasons of success and failure for start-ups and this is followed by the illustration of real-life examples in order to justify the opinions. Reasons of success and failure for start-ups There is range of reasons that can make or break start-ups. The level of familiarity and experience of the owner in the relevant industry is a factor that plays a significant role in the future performance of a start-up. In other words, highly successful start-ups tend to have owners that have a high level of experience, and professional and personal interest in the business they are initiating. On the contrary, the majority of start-ups initiated on the basis of the personal interest alone, or for the sake of following a popular trend tend to face significant challenges in various aspects of the business due to the lack or even absence of founder’s experience and knowledge in a given industry. Competitive advantage associated with a business idea is another major factor affecting its success. Competitive advantage is defined by Khosrowpour (2007, p.108) as taken from Braun (2006) as “a condition that enables companies to operate in a more efficient or higher quality manner than the companies it competes with, which results in financial benefits”. Accordingly, start-ups that have stronger competitive edge are more likely…