Entrepreneurial Opportunities and Business Development Idea : Report
Added on 2020-06-04
12 Pages3917 Words164 Views
Professional Development
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ENTREPRENEURIAL OPPORTUNITIES
Table of ContentsIntroduction......................................................................................................................................3Entrepreneurial themes....................................................................................................................4Business development Idea..............................................................................................................6Conclusion.......................................................................................................................................9Reference List................................................................................................................................11
IntroductionEntrepreneurship is an essential skill that is required for developing a business in the market.This study will help the learner to know the entrepreneur skills and opportunities to grow abusiness. The learner has discussed various businesses to observe all the entrepreneur skills thatthe businesses have indulged to grow in the market. This will help the learner to establish astartup cafe business and the learner has decided to name it as Web cafe. This study will evaluateall the characteristics that a successful entrepreneur should hold. The learner will be able to starta business after going through this study.The uniqueness in this idea relies on targeting more and more customers through onlinetransactions along with street side café availability. At present most of the cafes available in UKare available for the street dwellers. In this case, café products will be available through onlineorders and home makers especially senior citizens will get the touch of the café through onlineorders. In order to provide a satisfactory support, there will be product distribution teams whowill handle delivery efforts.The target market will be based on locations and respondents and there is no doubt that suchsegmentations will be new in the exiting entrepreneurship ideas. Especially, the business willtarget the residential folk who tend to have a taste of online café support.Many a times, it has been found that the business strategies and entrepreneurial themes dependon the type of business Mueller and Anderson (2014, p.500). For example, the business theme oflakota hills is to get huge customers in their shop. Their focus is to provide tasty food to thecustomers and earn profit. On the other hand, it has been found that the objectives of image cafeare to provide the customer a suitable environment where they can use the internet servicewithout thinking about the time. After analyzing the objectives of different business, the learnerhas thought of providing a safe and clean environment to the customers so that the cafe will gethuge customers in the venture. The web cafe will provide internet classes in the afternoon. Thiswill enhance the customer relationship with the services. The cafe will provide good coffee and acomfortable environment that will provide the customers a homely atmosphere. The focus of thelearner is to make a place where the customers will be able to enjoy the internet in a well-keptatmosphere.The customer range of Web Café includes distant folk who cannot get the touch of street coffee.The concept has been taken from the retail and other regular product distribution system. In most
of the terms housewives and senior citizens will be the major targeted customers through onlinesupport. Marketing professionals will reach to the customers through field survey and knowledgedatabase of existing customer base. In order to understand requirements of customers, thebusiness professionals will make efforts in marketing on the streets as well as online platforms.The learner has made business plans and ideas after analyzing the business of variousorganizations. For instance, the owner of the Lakota hills brought a competition in the foodindustry. They have developed their entrepreneurial skills and sells bread fry in the festiveseason because they knew that at this time there is a great demand of fried bread. They brought aunique change in the taste and change of their food items. It has been found that this idea ofbringing the change at Lakota hills was appreciated by the customers. After this, they startedselling the bread fry to the tourists and again they were proved successful in the business. Thisway they are able to earn a huge profit in the food industry. The business of fried bread wasgrowing at a impressive way. They started giving business advertisements in the local magazinesabout their food so that the customers can also order food by the contact number that has beenprovided in the magazine (Komppula, 2017, p.263).This gave a efficient idea to start the cafe business to the learner. The learner made a businessplan after investigating these two businesses:The web cafe will give cheap access to the internet. It will also provide complete access to FTP,email, Usenet, WWW and other internet tools. The customers who will come to the cafe to usethe service will get an innovative environment with the complimentary coffee while serving theinternet. All of these advanced platforms are getting more and more stress in the advancedbusiness communications. Therefore, it is justified that all of these platforms should be utilizedfor a new start up and for the same a new idea or platform of marketing as well as product choiceis important and for the same, Web Café has targeted all of those opportunities. Entrepreneurial themesDiscovery of new opportunities: Entrepreneurship is a skill that is required to develop andorganize the business in an effective way. The owner of the start-up business needs to developthe Entrepreneurial skills to bring the business in a standard position. Chang and Rieple (2013,p.225) have mentioned that to run a business the owner needs to know how to maintain thebalance in the account and continue the growth of the business. Many a times, it has beenobserved that a business fails due to the lack of entrepreneurial skill. The learner has investigated
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