Developing and Operational Plan of Business Idea

Entrepreneurial Opportunity

Table of Contents
INTRODUCTION...........................................................................................................................1
1. Business Idea...........................................................................................................................1
2.Uniqueness of idea...................................................................................................................1
3. Target market..........................................................................................................................1
4.Value proposition.....................................................................................................................1
5. Customers................................................................................................................................2
6.Reaching the customers............................................................................................................2
7. Customer demand and knowing it...........................................................................................2
8. Meeting customer's requirements............................................................................................3
Entrepreneurial themes:...................................................................................................................3
1. Two entrepreneurial themes....................................................................................................3
2. Origin of Business Idea and strategy to meet it......................................................................4
3. Developing the Business Idea ................................................................................................5
1. Steps of Development.............................................................................................................5
2. Operational plan......................................................................................................................6
3. Resources and staff needed.....................................................................................................6
4. Reason of idea development...................................................................................................6
5. Is market research conducted..................................................................................................6
6. Marketing mix.........................................................................................................................7
7. Competitors analysis...............................................................................................................7
8. Need of Financial plan............................................................................................................7
9. Way of making profits............................................................................................................7
10. Break even point...................................................................................................................7
Conclusion:......................................................................................................................................8
References:.......................................................................................................................................9

INTRODUCTION
1. Business Idea
The business idea we have opted is of Solar Cover Phones. With the passage of time, the
energy crisis is rising. Also, the smartphones drain a lot amount of energy and the battery gets
low on charge very fast (Bae and et.al., 2014). To meet this issue on wider scale, Solar Panel
Cover Phones can be used. Solar energy, being a sustainable source of energy, can be used to
produce electricity. The Solar Cover Phones will never be out of energy or power due to lack of
electricity. Besides this, it can be charged anywhere by just placing under the Sun. The Solar
Panel will convert light into electricity which will charge the phone.
2.Uniqueness of idea
The uniqueness of the idea is that looking at the rise in energy crisis, the Solar Panel
Cover phone will be a huge success as it is convenient to use and don't require special equipment
to get the phone charged. Also, it can be used by anyone, anywhere and no one will run out of
energy. Besides this, the Solar cover phones will store the excess power to be used in night
time(Baum, Frese and Baron, 2014). One can also use the Solar Panel Cover phone even to the
remote areas in a hassle free manner as it doesn't require any special set up of technology to get
the device charged.
3. Target market
With the rising in demands of mobile devices on global level, the Solar Panel cover
phone will be a huge success as this innovative invention will bring the deep change in the
technical market. Although it can be used for every one alike, it will be the prior choice of
adventure enthusiast, outdoor workers, sports persons etc. even it can be used anywhere whether
it is mountain, beach or forests (Bhachu, 2017). The phone can be charged from anywhere. The
youngsters can be the biggest audience as they love gadgets and are the biggest consumer in
mobile phone industry. Besides this, it can prove as an idol choice for people in remote area's
with no regular or proper supply of electricity making it a successful product in mid to high
range mobile phones market.
4.Value proposition
The use of the solar energy is the biggest value proposition of our product. Solar energy
being safe and clean form of power, will not have any negative impact on environment. On the
1

other hand it will reduce the power consumption and electricity demand of consumer. Also, it is
economical and convenient form of energy. Also, the feature of storing the power for the future
use will add the perks to this product as it also makes it idol for using at night or in low sunlight
(Drucker, 2014). The people will be attracted towards its ability to charge up anywhere and by
anyone. Also, it will diminish or reduce the need of power banks.
5. Customers
The Solar Panel Cover phones can be used by everyone alike. But the target or the major
customers will be the adventure enthusiast, campers, sports persons, technology lovers and the
people who live at the remote area with low or no electricity supply. The youth is the biggest
target audience which can be turned to be the biggest consumer of these devices. The customer
will be attracted towards the feature of it energy efficiency and never running out of power (Goel
and Saunoris, 2017). The young people, being the largest consumer of the mobile devices, they
will understand the importance of this device and will be deeply attracted towards this device.
Apart from this, the rise in environmental concerns on a global scale has motivated many people
to use environment friendly products. In such case, Solar Panel Cover Phone will be a grand
success among the environment conscience people who want to go green and use a sustainable
source of energy. Solar Panel phones will prove a great success among this group of the
customers.
6.Reaching the customers
The customer approach is the biggest feat for the company to introduce its Solar panel
cover phones. To attract the customers on the wider level we can use various mediums like social
media platforms, print media and electronic broadcasting (Kirzner, 2015). We can produce a TV
commercial to attract the customers. Besides this, the approach of direct marketing can be used
to lure in the customers. We can also use an adventure event like hiking, trekking or arranging a
camp in a remote place i.e. in an extreme outdoor condition with no electricity supply and
provide the participants to use Solar Panel Cover Phone to use. This will influence more people
to purchase our product.
7. Customer demand and knowing it
With the advancement of the technology, the demand of mobile devices with better
battery backup and power efficiency is seek in the market. Many company's have launched
mobile devices with better battery backup but they are also can't meet the customer's demand or
2