Entrepreneurial Development: Importance and Strategies

This article discusses the concept of entrepreneurial development and its significance in increasing the number of entrepreneurs. It also explores the role of a Chief Marketing Officer (CMO) in a Healthy Life Restaurant and the strategies they can use to improve profit margins and sales. Additionally, it covers the value proposition canvas, lean business model canvas, and the contributions of a C-level specialist in marketing.

Entrepreneurial Development

Table of Contents.
INTRODUCTION...........................................................................................................................3
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
In order to improve the knowledge and skills of an entrepreneur through several programs of
classroom trainings, this type of gaining of knowledge & skills is known as entrepreneurship
development. Therefore, for increasing entrepreneurial numbers the entrepreneurship development
is carried out (St-Jean and Mathieu, 2015).
I had developed a business idea with four of my colleagues; the business idea was regarding
Healthy Life Restaurant. In this business plan I had played the role of CMO of the organization.
Therefore, on the basis the several analyses of the market and as I being the chief marketing officer
according to the role play, I had designed the business report on the Healthy life restaurant.
Through several analyses, i had found the record of profits, sales revenues as well as profit margin
of the first three years of operations of the restaurant.
The profits of the restaurant can be determined by the net profit margin of the restaurant, which
tends to give the clear picture whether the restaurant will get success for its long run or not. Thus,
through several past records it has been concluded that any restaurant above 20% of the margins of
the profit would be considered to be successful in present. Thus, for calculating a restaurants net
profit margins net income is divided by gross sales and thus, multiplied by hundred. Moreover, for
improving the profit margins of the restaurant the company could reduce overall food cost, the
company could try decreasing the overheads, by using leverage technologies and by increasing
sales.
The sales revenue for a restaurant could be the amount that restaurant generates. Thus, the sales
revenue is the amount which is generated by the business through several streams of revenue which
includes consumer packaged goods, gift cards, phone orders, online orders, merchandises, beverage
sales, food sales and more. Moreover, the average revenue of an restaurant basically depends upon
its service model, size, region or on the type of restaurant.
The profit margin of restaurant could be calculated by counting the money left in the business by
subtracting the operations expenses from gross revenue. Generally, the span of margin of profit for
any typical restaurant ranges from 0-15 percent. Therefore, restaurant expenses are also important
factor of consideration for calculating profit margins, as restaurant expenses includes overheads
costs, labour costs as well as cost of goods sold (Gunawan, Jacob and Duysters, 2016).
2.
The tool which helps in ensuring the service or product which has been position around what is
needed by customer and what it values is called value proportion canvas. For customer value
proportion, being an chief marketing officer of the Healthy Life Restaurant I has found out the
various results regarding customers gain as well as its pain while along with it I has found out the

culture of employees job in the organisation.
The various gains of the customer I had found from the several researches is the affordable cost of
the food which the restaurant offers. Being the chief marketing officer i had found that the expense
power of local people is very low, and they always expect to have food at nominal rates. The cost
they could easily afford for expenditure on luxury items. Thus, nominal cost of the food has
attracted a large number of its customers to repeatedly visit this restaurant and use the services of
the restaurant.
Moreover, the company of restaurant offers a large or vast variety of vegan meal. Being the
marketing officer (CMO) of the organisation i had found that offering a large variety of vegan food
and beverages by the Healthy Life Restaurant helps in attracting its customers towards it. Moreover,
being the CMO of the company i had found that by using additional techniques of marketing
strategy the sales and profit margins of the organisation could be enhanced think my team of
marketing must use the latest marketing techniques which would highlight the restaurant’s
monopoly of offing vast variety of vegan meal (Bird, 2019).
Additionally, the good taste offered by the company is the biggest advantage possessed by the
restaurant, thus, being the CMO I will prefer to highlight this feature of the restaurant for marketing
purposes.
There are some issues of customer value proportions too i.e. expected order, the time gap in
delivering of food as well as well as unavailability of well maintained staff. I being the CMO may
use several different techniques for enhancing the footfalls of the customers visiting the restaurant.
Thus, increase in number of customers will eventually results in increase in expected order received
by this business. Additionally, it has been observed several times that the restaurant gets unable to
deliver goods on time. Thus, this incapability of the management of restaurant in offering
disadvantage to restaurant as on one side the marketing team is working hard to promote the
restaurant and on the other hand the restaurant is damaging its reputation by delaying in its services.
This is all due to unmanaged staffing in the company.
Additionally, the jobs possessed by the staff of the company which includes functional jobs which is
related to healthy food, social job which is in relation to scaling with friends as well as emotional
jobs of the employees which is in relation to finding peace. Thus, being the CMO i must suggest for
enhancement in customer value proportions, the company need to enhance its several advantages as
well as the needs to work towards overcoming the issues must be taken seriously by the customer
(Karimi and et.al, 2017).
3. Lean business model canvas
Lean business model canvas comprises of

Key partners
The key partners in the Healthy Life restaurant are owners, suppliers and investors, the key partners
of the organisation are supposed to be base of the organisation. As here for the business of the
restaurant the owner as the key partner of the business which own the business and posses all the
rights for the overall functioning of the restaurant. Another key partner is the supplier to the
company. Suppliers are the crucial individuals to the organisation which performs the function of
supplying various essential goods of raw materials to the organisation. Yet another key partners are
the investors of the organisation, as they did not plays the direct role of contribution in the
organisation but they present in the background in order to support the company (Rasmussen,
Mosey and Wright, 2015).
Key activities
The key activity of this organisation Healthy life Restaurant is the supplying of healthy food. As the
name suggests the company offers healthy food which is 100% vegan. As according to the present
preference of the customers, most of the customers like to have healthy food and as there are several
programs that encourage the individuals to prefer healthy food. Thus, the organisation of Healthy
Life Restaurant working in the direction towards healthy food. Thus, this demonstrates the key
activity performed by this restaurant is healthy food.
Key resources
The key resources of the organisation Healthy Life restaurant are higher levels of customer services.
Higher level of products as well as professional staffs. The key resources of any organisation are the
basic sources of the company for doing business. Thus, in this organisation the level of service
offered to the customer is very unique and advanced; the customers visiting in the restaurant had
always liked its service. Moreover, as the company is offering so many products i.e. almost every
vegan food product. Therefore, the company’s vast product offering is considered to be the key
resource to its functioning. Additionally, the professional staff acquired by the company is too the
main key resource of the company which offers the biggest advantage of the company.
Value proportion
The value proportions are the advance functions offered by the company. The company Healthy
Life Restaurant offers several value proportions which made the company so much popular among
people preferring having healthy food. The company offers a function of take away facility when
the order is placed through online ordering facility, the company offers its customers to directly
white to the canvas. Additionally, the whole of the organisation of restaurant is covered by the latest
technology of Wi-Fi. Thus, availing the customers with such advance technologies helps in adding
value proportion of the company (Ayuso and NavarreteBáez, 2018).
Customer relationships

The relation with customers is very much essential for successful running of the business and this is
well known to the organisation Health Life Restaurant which is offering complete vegan food. The
customer relationships are totally dependent upon the personal and self service. The efficient and
effective customer relationship offered by this company is its efficient and effective personal
service as well as the company’s self service. Personal services and professional service are
important features offered by the company which made it successful in the industry.
Channels
The channels of marketing are the ways through which an organisation tends to promote its
business. Thus, there are several channels through which the organisation promotes itself.
Therefore, the company Healthy Life Restaurant take the usage of Trip Advisors, Instagram, Twitter
as well as Facebook. These channels of marketing and promotions help the organisation in getting
popular and gaining of reputations among its various competitors of the industry. Even if anyone
channel of marketing technique could be effective in bring the results in promoting the firm the firm
could success in doing business. Here the company of this restaurant uses social media sites such as
Instagram and Facebook, on the other hand the company uses the tourism app such as trip advisors
for its promotions and marketing’s (Wach, Stephan and Gorgievski, 2016).
Customer segments
Specific proportion of customers are said to be customer segments, the customers are segmented by
the organisations in order to effectively target the customers and for effectively doing the business.
The company Healthy Life Restaurant has segmented its customers for better targeting them by
encouraging people concern towards health, as this will be having dual benefits as it will helps in
generating good business for the organisation as well as it encourages people towards the benefits
of Healthy food. Moreover, as more and more individuals are shifting towards central London, thus,
the company has targeted such customers for enhancing their sales cycles.
Cost structure
The cost structure possessed by the organisation Healthy Life Restaurant is like, the fixed cost rent
is around £ 2,917 per month, the several bill including the water and electricity comprises of £ 500
per month, the cost of refurbishment is £ 15000, for advertising the company bears £ 3 for each
customer, moreover, the variable costs possessed by the organisation is £ 10,000 which includes
software development, supplies and several wages.
Revenue streams
The revenue streams for the organisation Healthy Life Restaurant is like, the income generated by
selling per meal is £ 8, the income generated by per box of take away is £ 10 while, the generation
of income through selling of per box of online order is 8 £ (Hayter, 2016).

4. The C level specialist contribution
The chief level specialist contribution of mine as being the CMO marketing, for the customers
Engagement plan, I had focused on the strategies. I had initially leader the up front decisions
regarding position of the company, then had translated those decisions to designing of new
experiences, services and products. Therefore, i had started managing the customer insights as well
as analytical functions of the company. Thus, i found i had played an effective role in company’s
innovations (Nabi and et.al, 2018).
Moreover, i had started focusing on the commercialization. While focusing on the
commercialization i had worked at an downstream role, where I had used my marketing
communication skills to sell products and designs which is designed by others. Thus, by doing this i
had created revenue growth relationship with the customers by focussing on my responsibilities
which includes overseeing at traditional as well as digital efforts. Therefore, I being the CMO of the
restaurant has brought innovations by playing a supporting role as a commercialize.
At the last, i had focused on my responsibilities for being the CMO, where i had handled both of my
roles i.e. strategist and commercialized in an enterprise wide, where i had focused more on strategy
for designing and implementing. Therefore, i found myself responsible for a wide range of
functionalities at the Healthy Life Restaurant i.e. pricing, distributions, sales as well as for
innovations.
Being the CMO of the firm, i had gathered the consumer insights for critical competency of the
company and determined the designs of experiences, services as well as products. I had leaned the
company’s strategy towards commercialization for the effective functioning of inward functioning,
manufacturing, technological and for the finance functions. Thus, being the CMO i had set
strategies in order to boost the profits of the company by creating the needs in the minds of the
customers by bringing innovations.
Next, being i as the CMO of the Healthy Life Restaurant, i had devised plans for building demands.
Thus, i found that commercialization will be better fitted if growth was easier to achieve & very less
challenging for the company.
Being the CMO with strategically as well as enterprise-wide responsibilities, i had redrawn the
shifted business model or the industrial boundaries in an more effective manner.
According to the historical role of CMO in the organisation where an executive of top marketing in
the company focuses on commercializing. I had shifted to role of strategic and enterprise which is
responsible for other functions of the organisations too. Therefore, for expanding my
responsibilities regarding CMO, i had asked the CEO of the organisation to involve in

communication expectations and for preventing internal backlash.
Then i had focused that if in near future the company would be having multiple business units, then
the responsibilities of functional leadership would be disappeared. Therefore, in this condition, i
being the CMO of the firm will helps in providing strategic leadership to the company.
Therefore, i found myself as not only playing the role of CMO of the company but also as the chief
analytics officer, chief innovation officer as well as chief commercialization officer. Or i had played
the role of enterprise wide CMO if the organisation is having centralized marking if it has single
brand outlet.
In the end, being the CMO I had worked as an think tank, where i had responsibilities for
conversion of strategies into tactics such as marketing communications as well as for the
advertisements. Additionally, as the CMO i found myself responsible for accounting in order to
meet budgetary goals for the effective results of the projects, for the results produced by programs
of marketing (Biraglia and Kadile, 2017).
5. Financial and Financing Plan
For finance and financing of this firm of Healthy Life Restaurant the profit and loss statement is
essential for expelling the business i.e. whether the business will be results in profit or in loss for an
specific period of time. As the financial statement is known by different names such as statement of
profit and loss or pro forma income statement.
The cost structure demonstrates the required cost for the running the business successfully which
includes cost of resources, cost of operations and expenditure of amount of money in employing
staff.
The revenue stream is the total collection of money while doing the business. It includes collection
of share of profits as well as cost expenditure in operations of the business for running the
restaurant business.
The break even analysis is the analyses which is done in every business in order to calculate the
time which has to expand for reaching the critical point of the business, from where any revenue
generated will be counted as in profits of the business.
Cash flow analysis which states that the amount of money the business had brought in the company
and the amount of money the business has expended. This analysis is generally done at the end of
the month. Thus, this analysis is very much important for analysing profit and loss statement of the
business.
Source of finance is the path through which the firm will going to receive the amount of money
initially for running the business. The source of finance includes business owners, investors, banks
or firm which provides loan. While use of finance is the way in which the company uses its fund for

doing the business. The use of finance must be done in a very systematic manner so as to decrease
the conditions of loss as low as possible (Reuber, Dimitratos and Kuivalainen, 2017).
The current financial data of Healthy Life Restaurant is, the cost structure possessed by the
fixed cost rent is around £ 2,917 per month, the several bill including the water and electricity
comprises of £ 500 per month, the cost of refurbishment is £15000, for advertising the company
bears £ 3 for each customer, moreover, the variable costs possessed by the organisation is £ 10,000
which includes software development, supplies and several wages. In the next five years, the rent
will be reached by £3,800 and expected income to be will be £60,000
6. Summary
This report can be summarized as the entrepreneur is the individual which is responsible for
exchanging of profits, there for in order to improve the knowledge and skills of an
entrepreneur through several programs of classroom trainings, this type of gaining of
knowledge & skills is known as entrepreneurship development. Therefore, for increasing
entrepreneurial numbers the entrepreneurship development is carried out. As in this report i
had played the role of CMO of the Healthy Life Restaurant where i had found by
systematically investing the fund in the business will results in the several entrepreneurial
opportunities for the company. As the opportunities that arises are regarding introduction of
new goods and services, raw material such that when the are sold the organisation will tends
to earn profit i.e. when the price of selling is greater than cost of productions. Thus, the
entrepreneurship begins when an individual tends to make a conjecture or put resources in
best use. Therefore, the outcomes of business are value, and value is profits. And finally the
profits are considered to be the rewards which are earned by the entrepreneur for taking
risks. Moreover, until and unless the entrepreneur tends to take risk the business won’t start
(Santos, Roomi and Liñán, 2016).

REFERENCES
Books and journals
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