Assignment on Principle of Entrepreneurship

Principle of
entrepreneurship

Table of Contents
INTRODUCTION ..........................................................................................................................3
Customer relations 170 each ...........................................................................................................3
Is it B2B or B2C .........................................................................................................................3
Is it automated for customers .....................................................................................................3
Or is it personnel relation for suppliers ......................................................................................3
What are the revenue streams .........................................................................................................4
Key sources .....................................................................................................................................4
Key activities ..................................................................................................................................4
Key partnership ...............................................................................................................................5
How do you reduce risk in a competitive environment ..................................................................5
Acquisitions ....................................................................................................................................6
Cost structure...................................................................................................................................6
Outsourcing......................................................................................................................................7
Channels ..........................................................................................................................................7
Value proposition ............................................................................................................................7
Accessibility ....................................................................................................................................8
Price and brand structure ................................................................................................................8
oHow are the designs made?.......................................................................................................8
Customer segments..........................................................................................................................8
Who are you targeting? The mass, niche or a diverse segment?.................................................8
How is the supplier relationship?.....................................................................................................9
E.g. who supplies Simba Sleep and is there only 1 supplier?.....................................................9
CONCLUSION ...............................................................................................................................9
REFERENCES ............................................................................................................................10

INTRODUCTION
Entrepreneurship principles are the major key factors or key sources for the organisation.
It also must be required for the new start-ups which is highly required in the new business.
Entrepreneur principles helps to guide entrepreneur to make proper decision for their better
opportunity present report will be based on Simba Sleep Mattress which is small start-up of
online they deal with sleep mattresses. Its message reveals its new start-ups which disrupt the
world of sleep has bedded fresh cash to fuel global expansion. It was the online star up which
really grows well in the UK market. Present study will be showing the business plan for the
company.
Customer relations 170 each
Is it B2B or B2C
Simba Sleep is the business to customer services which directly provides their services to
direct customers. They attract customers by offering comfort services or products to the
customers. It also helps to promote the best services and target market growth. They started their
career in earlier times but on the other hand it has been increasing their new services and new
products in order to sustain in the market (Angel Galindo-Martin and et.al., 2016). Besides,
many of the hospitality industry also purchase these mattresses for their customer comfort. This
also helps to enhance the best productive market growth in order to accomplish the business
objectives.
Is it automated for customers
Simba sleep is the customer automated services by offering them online services to their
comfort. They also provide help care number in order to contact with the company for any query.
Company also provides many other services as well. They provide mattresses into five steps
keep the body cool, the luxury layer, our clever conical pocket springs, unique as you, seventh
heaven (Berglund, Dimov and Wennberg, 2018). These are some features company provides in
their single mattresses. They provide online services or try to take fewer efforts from customer
hand.
Or is it personnel relation for suppliers
Yes, it has immense relationship with suppliers. Suppliers are the Marjory key drivers for
the company. It is very much required for new entrepreneur to keep the relation good with

suppliers in order to get quality of raw material. It will be the more advancing and productive
source for the businesses (Kim, Wennberg and Croidieu, 2016).
What are the revenue streams
Simba Sleep has been given new concept and new comfort zone for those who are really
engaged in their life. Its all started with a chance encounter between Gareth Bale and SIMBA
sleep. They provide good sleep when you need good night sleep but you can't get to your bed at
home. This is the revenue streams of the company which attracts customers towards the
products. It also helps to generate new more learnings and advanced growth ideas. Another it
also has been given new technology and ideas to meet the good night sleep. Another, product has
taken by the company is to adopt the best promotional ideas through they get the buyers'
attraction (Kirzner, 2015). Another, revenue streams for the company is to providing all services
online through company app. This being the easiest task to make the order. This overall process
has been increasing the scope of the company products. It will more advancing and more attract
for the customers.
Key sources
Simba Sleep is works under in major departments in such as customer experience,
operations, marketing and analytics. They operate customer experience by offering the best
quality of mattresses. Besides, they also get the feedback from customers in order to get more
new services. Besides, in marketing is the another source through they grab the attraction of
customers (Kuratko, 2016). Marketing is the significant source for the company. Moreover,
another major impactful factor which collects another source of income. With moreover content
in the organisation which also requires to adopt the best possible action plan. Besides, operations
is the another major department which handles the overall function of the company.
In terms of selling company also provides their mattresses in bulk or as well as singles as
per the requirement of customers. They adopt customer centric approach which has been
effective for the company development (Kusumasari, 2016). It makes good impacting on the
behaviour of customers. Besides, company operates its operation process in bulk. Overall, they
make good impression on the behaviour of impactful items.
Key activities
Highly designed and quality proof professional make the mattresses design for the
company. It brings new services and better impactful growth for the company. Simba sleep

mattresses famous and productive for the company benefit. Moreover, marketing department of
the company will take care of the company marketing activities. Company provides variety of
product line for buyers in order to meet the needs of customers (Parker, 2018).
Simba operetta it's all business in Condon with their selling process as well. Moreover,
another impactful factor makes necessary changes in the organisation in order to meet the needs
of customers. Moreover, another major goals of the company is that to provides best services to
customers in order to make the good impression. Overall, design of the mattresses is all about the
process of making good task process. All the process of working is depending on the nature of
producing best task and sources. Moreover, another process of working is the to promote the best
activities to enhance the quality of mattresses. The main product design providing by the
company is that luxurious styles of cool mattresses. They provide variety of other mattresses as
per the need of customers (Rahman and Day, 2015). Company provides their products with
online basis of that required task. They also provide duvets, pillows, beds, assessors, bundles etc.
they always full comfort to the atmosphere to the buyers.
Key partnership
Simba Sleep work single in the market they owned their all activities or function. It is not
based on the large scale. They focused on the main activity which is highly impactful for the
company betterment. This is very much required for the company to adopt some new investors or
merging with other company in order to expand the business activities. This makes good
impression on the behaviour of company structure. New partners and big operation gives more
popularity to the company growth (Rath, 2017). Moreover, another major impactful behaviour of
the organization is to make more stakeholders in order to expand the business activities. Key
partners are essential to grow in the business activities in the better manner. Besides, it also
influences new market opportunity to make the strong competition in among rival firms.
How do you reduce risk in a competitive environment
Company reduce their firm, into new manner moreover, another major objectives of the
organisation is that to minimize the uncertain situations in order to meet the needs of customers.
Besides, in major key factors company invest on the different activities to reduce the risk factor.
It also influences the major goals and activity which needs to enhance the major quality
performance. Risk factors are always presence in every activity of the business (Rudenko, and
et.al., 2015). Company can be facing the risk factor in terms of competition, uncertain situation,

changes in customer behaviour etc. company adopt strategies in order to reduce the growth of
business risk is that adopt best or high quality of products and best quality of products in order to
meet the needs of customers (Sun, Jiao and Wang, 2016). Another strategy might be adopting by
the company is to reduce the risk factor is that, another major objectives and target market plans
helps to accomplish the overall objectives of the company. In order to reduce the company risk.
For that, company will need to adopt the best strategics and goals oriented target in order to
fulfilled the business target. Another plan to reduce risk is that to make customers always happy
and satisfied with the services. Along with that it also helps to maintained the market position in
front of their competitors. In order to mitigate competition risk. For that, company needs to adopt
new product line and strategy in order to meet the needs of organisation. Overall it also helps to
require the better opportunity growth (Kirzner, 2015).
Acquisitions
Acquisitions is the term which refers to a company that is added by a private equity one
of its platform companies. It also belongs to the another major objectives which needs to be
adopt by the company development. Acquisitions is the kind of process of adding two firms into
same manner (Smirnov and Belkin, 2015). This process enhancing the business activities and
functioning. It is the single owned company which highly focussing on the quality of services.
They are highly influenced from the high technology of behaviour in which the discovers the
innovation process of making good skills and wants. In moreover, another factor of influencing
enhancing the better protection and more growing factor in order to enhance the better
opportunity and growth. It is the more enhancing and growth factor in acquisition process. In
order to enhance its operational activities accompany can also provide license of the business to
other entrepreneur in order to enhance the business popularity and number of outlets at
international level. Which makes good impression on overall activity (Kirzner, 2015).
Cost structure
Simba Sleep is the technology influenced company which helps to bring new advantages
and impactful factors. Simba Sleep is the value driven company which focus on the innovation
rather than profit, they focus on the behaviour of customers and their requirement rather than
protecting their own profit revenue. Moreover, another major impactful factor is that to protect
the needs of the organization by taking good market response. They launch best marketing
events in order to enhance the customer attraction and market objectives plan. This also makes

good impression on the behaviour marketing objectives in order to meet the overall objectives.
Another major growth of the company is that high demand of the product and services. They also
need to acquire the more customer attraction plans and marketing objectives. Simba sleep is the
based on the new market position (Sun, Jiao and Wang, 2016). It also helps to acquire new
business objectives and target market growth. Besides, cost structure along with that it also very
much required to handle the overall situation which helps to acquire the best possible action plan.
Outsourcing
Simba sleep has other offices in the UK which operate the same business activities as in
the form of franchisor. Company needs to adopt the same level of target in order to met the needs
of target market customers (Kim, Wennberg and Croidieu, 2016). High market growth and
expansion can gives higher opportunity to adopt the further activities for business growth. It also
helps to regenerate the better quality of product and services. Majorly it is known as better
quality of products which needs to be in their productive manner. Another, outsourcing is the
business activity of hiring a party from outside company to perform the services and create
goods that traditionally were performed in by the house. Outsourcing process is the less cost
effective and high profit earning process (Kuratko, 2016). It also helps to enhance the process
making task. Company also generate earning from the other cities as well by offering the best
mattresses in different comfort manner.
Channels
Channel is the source through company selling their product and services to the end
consumers. This process also provides the convenience (Angel Galindo-Martin and et.al., 2016).
Simba sleep has adopted the online channel and offline channel to distribute their products to the
consumers. Customers are very happy to use the app of Simba as well in order to fix quick
process and delivering. Online is the best channel these days in order to influence the customer
attraction and company profit making task. The major channel of the company is online and
offline both.
Value proposition
Simba sleep is the highly innovative and new concept which is very much acceptable and
unique for the customers (Rahman and Day, 2015). Along with the services Simba also
introducing new concept and new products in order to grab the more customer attraction. The
products of the customized by the proper safety manner. In more promising manner, it also helps

to influence in more promising manner. Value is the major role of the company which they fix in
their products and services. Along with that, it also influences the business organization and
values in order to meet the objectives (Kusumasari, 2016).
Accessibility
Accessibility process ensures that customer has to get quality of services from the
company hand. In the context of customer accessibility company make sure the proper process of
selling the services such as through marketing channel with the help of online platform. Higher
accessibility enable to get higher customer satisfaction towards the Market area (Kirzner, 2015).
Company also influence positive activities and major factor of production. Besides, company is
based on e-commerce platform which is highly demanding and growing sector growth.
Moreover, it gives positive impact on the market structure and the growth on the business
activity (Berglund, Dimov and Wennberg, 2018). Simba sleep has based on the mattresses
services providing at reasonable rates.
Price and brand structure
oHow are the designs made?
Simba Sleep being a famous mattress e- commerce set up and a start-up firm representing
mattress manufacturer who has greatly learnt the art of conquering the effortlessness of sleep. It
is already known to design perfect mattresses for its customers by coordinating the science with
their own experience (James, 2016). It is currently known to operate in total 35 distinct locations
with its headquarter in UK. It has been found in the year 2015 by 2 of its founder named James
Cox and Steve Reid. It was started with total 50 to 100 employees and has now reached to
another level of success with rising number of employees as well as more number of markets to
expand its base.
This section is to specifically discourse upon the way in which, Simba Sleep tends to design
its products, it has been found that it is very much influenced by the right techniques of
designing mattresses to feel comfortable while sleeping. Considering this, they are known to
design their products for their clients by together fulfilling any of their specific needs or desires.
This is for instance to refer to a mattress which is specially designed for old age people
experiencing body aches. To fulfil their requirement, Simba Sleep will hereby design spring less
mattress causing less or no pain in the body. They are mainly focussed on a healthy fact of good
sleep to get a healthy life.

Customer segments
Who are you targeting? The mass, niche or a diverse segment?
It is known to have a diverse segment of customers targeting people of almost all age groups
and gender. Also, its current work enhancements with the incorporation of several digitalised
technologies have led to target a mass corporate premium to enlarge the business to a great
extent. Herein, Simba Sleep is not only targeting individual customers but are also supplying
their products to big retail organisations dealing in mattresses and such related products. The
main agenda of the cited firm is to provision the necessity of better sleep where it also targets the
sport stars who are in need of quality sleep like any other individual (Simba Sleep, Supporting
Gareth’s Bale’s Dream Performance, 2017). It thereby comes under a tact of marketing its
products and endorse it by some famous sport stars. It is with a relative goal of being productive
and performing well in all sort of daily chores as well as in the tasks that are meant to pursue the
passion of an individual. Beside this, they are also targeting to produce such mattress that aids in
the prevention of injuries and recuperate the same. It is therefore with a special concern of
patients who are suffering from any such type of distress.
How is the supplier relationship?
E.g. who supplies Simba Sleep and is there only 1 supplier?
Simba Sleep is known to have more than 1 supplier with an aim of delivering online to its
customers through its official website. After which, it has also entered into the high street market
by partnering with John Lewis who is further known to have several other brands dealing in
furniture items and are considering to sell the mattresses of Simba Sleep with their beds, etc.,
(Farley, 2016).
Financial Forecasting business plan

Income Statement

Balance sheet

Simba Sleep has been earning good amount of money through their best growth. They
have been increased 4,89,988 comparatively last 4 years. It is the best plan for the company
through they gain future profit as well.
CONCLUSION
From the basis of above section it can be concluded that, business plan is very much
required to adopt new innovation and creative process which also makes good impression in the
market.

REFERENCES
Books and Journals
Angel Galindo-Martin, M. and et.al., 2016. Growth, economic progress and
entrepreneurship. Journal of Innovation & Knowledge. 1(1). pp.62-68.
Berglund, H., Dimov, D. and Wennberg, K., 2018. Beyond bridging rigor and relevance: The
three-body problem in entrepreneurship.
Kim, P. H., Wennberg, K. and Croidieu, G., 2016. Untapped riches of meso-level applications in
multilevel entrepreneurship mechanisms. The Academy of Management
Perspectives, 30(3), pp.273-291.
Kirzner, I. M., 2015. Competition and entrepreneurship. University of Chicago press.
Kuratko, D. F., 2016. Entrepreneurship: Theory, process, and practice. Cengage Learning.
Kusumasari, B., 2016. Understanding Business Model of Social Entrepreneurship in
Indonesia. Abstract of Economic, Finance and Management Outlook, 5, pp.1-4.
Parker, S. C., 2018. The economics of entrepreneurship. Cambridge University Press.
Rahman, H. and Day, J., 2015. Involving the entrepreneurial role model: a possible development
for entrepreneurship education. Journal of Entrepreneurship Education. 18(1). p.86.
Rath, J. R., 2017. The transformation of ethnic neighborhoods into places of leisure and
consumption.
Read, S., Sarasvathy, S., Dew, N. and Wiltbank, R., 2016. Effectual entrepreneurship. Taylor &
Francis.
Rudenko, L. G. and et.al., 2015. Conceptual foundations of management of infrastructure of
support for small entrepreneurship. Asian Social Science. 11(20). p.220.
Smirnov, V. P. and Belkin, V. G., 2015. Experience in the Application of the Principle of
Methodological Pluralism in the Study of Entrepreneurship. Asian Social Science. 11(7).
p.122.

Sun, L., Jiao, K. and Wang, R., 2016. The evaluation of college students' entrepreneurship ability
based on AHP method. International Journal of Advanced Media and
Communication, 6(2-4), pp.246-261.
Farley, P., 2016. Mattress manufacturer Simba partners with John Lewis. [Online] Available
through: <https://www.furniturenews.net/news/articles/2016/02/487210750-mattress-
manufacturer-simba-partners-john-lewis>.
James, 2016. Simba roars in UK’s over congested mattress market. [Online] Available through:
<http://www.themarketingblog.co.uk/2016/02/simba-roars-in-uks-over-congested-mattress-
market-john-lewis-exclusive-retail-partner-for-start-up/>.
Simba Sleep, Supporting Gareth’s Bale’s Dream Performance. 2017. [Online] Available
through: <https://simbasleep.com/pages/simba-lab>.