Entrepreneurial Opportunity – Planning Template

This document provides a planning template for entrepreneurial opportunities in the fashion industry, specifically focusing on interior design. It covers key questions, product features, business models, market analysis, industry analysis, mission statement, critical success factors, and team connections.

Entrepreneurial Opportunity – Planning Template
Topic/Domain Key
Questions
Your notes and evidence
Name The name
of the
business
AFEXO
Product What
products/se
rvices will
be
provided?
INTERIOR DESIGN
Features What are
the
product/ser
vice
features?
Clean lines and Uncluttered Spaces.
Concept Statement A clear and
succinct
statement
of the offer
There are many people who have the ability to buy furniture but only AFEXO can create
interiors beyond your wildest dreams.
Business Model How the
business
will create
value?
What
activities
will be
undertaken
?
How will
resources
AFLEXO by providing best and unique quality services at affordable prices to the
customers and adopting such model which will ensure high quality output at low cost of
operation.
AFLEXO usually use high and upgraded quality technology in order to provide its
professionalized services. AFLEXO also uses the research outcomes of the market which
includes the current trends and needs of the customers in order to provide its services.
AFLEXO uses the resources in both efficient and effective manner which not only reduces
the cost of operation but also reduces the wastage of resources. AFLEXO also adopts the

be used? concept of sustainable use of resources.
Segment Who,
precisely,
are the
customer
who have
the pain?
Those who want to make their home spacious using small space at low cost.
Micro-Market test
What
customer
pain will
your
offering
resolve?
What
differentiat
ed benefits
does your
offering
provide?
What
evidence do
you have
that
customers
will buy?
What
evidence
shows that
the target
market has
potential to
grow?
Providing the best quality service at low cost as per the needs of the customers with maximum benefit in the
form of cost and quality.
Providing consumer oriented and demanded product at minimum price in comparison of competitors.
Offering differentiated product with variable and lots of varieties as per customer need.
Continuous increase in the demand and awareness regarding interior designing will definitely lead to growth
of this market.
Offering the similar product will attract more customer and raise the sale percentage of the company
(Todeschini, 2017).

What other
segments
could
benefit
from a
related
offering?
Market Carefully
define your
market
e.g. UK
mobile
phone
market
e.g.
European
commercial
vehicles
market
Interior Designing market:
The market which deals with designing the homes and providing professionalized services
regarding home décor.
Macro market test
RESEARCH How large
is the
market you
are seeking
to serve?
How fast
has it
grown?
How fast
will it grow
in the
future?
What
trends can
you identify
that will
AFLEXO is seeking to serve not only the local market or the local customers but on the other hand
it wants to serve the whole world by expanding its business globally and accessing the reach to
maximum customers.
It has been grown gradually right from attracting the local customers and also start serving
international customers by its official websites or through digital platforms.
Estimated up to 2023 it would grow and cover the large market of the globe coving most of the
countries of the world.
There may be various factors which may affect its business like:
Technological factors:
Continuous changes in the technology and technological advancement may directly affect the
working of AFLEXO in terms of quality and price.
Social factors:
Change in the taste and preferences in the form of market trends and demands of the customers
may also affect its working.
Legal factors:

affect your
business
e.g.
economic,
demograph
ic,
technologic
al,
regulatory
Legal framework or rules and regulation are very important to be abided by the AFLEXO in order
to deal its business in different country.
Political factor:
Since AFLEXO wants to perform its business in different countries and want to globalized its
business operations thus it has to be very conscious regarding this factor because this factor may
have severe impact over the company.
Industry Carefully
define your
industry
What
industry
will you
compete
in?
Designing:
AFLEXO belong to the designing industry regarding home and other customer related
premises.
The main competition of AFLEXO is with the competition along with its competitive
industry along with exterior designing in order to get perfection and coverage over whole
designing sector.
Macro industry test
RESEARCH Is it easy or
difficult for
companies
to enter
this
industry?
Do
suppliers
have the
power to
set terms &
conditions?
Do buyers
have the
power to
set terms &
conditions?
Is it easy or
If there is an existence of perfection then there is no difficulty for other companies to enter into market.
If there are less number of suppliers, or they have majority then obviously they have the power to set terms
and conditions.
If there is consumer oriented market and there are lots of substitutes then consumers will have such power.
It would be very difficult for substitute product to steal the market of AFLEXO, if AFLEXO has copyright and
patent over its design.
Like the other markets, competition and its rivalry is also strong in this market.

difficult for
substitute
products to
steal your
market?
Is
competitive
rivalry
intense or
genteel?
Industry – micro
Do you
possess
proprietary
elements
that other
firms
cannot
likely
imitate or
duplicate?
Can your
business
develop
and employ
superior
organisatio
nal
processes,
capabilities
or
resources?
In what
ways from
your
AFLEXO posses proprietary elements in its product in the form of copyright over its design which other firms
can't imitate .
Yes, AFLEXO can easily adopt superior organizational process, resources, and capabilities due to its working
efficiency and market superiority (Gurova and Morozova, 2018).
AFLEXO usually consider all the elements in its offerings which include providing best services at cheaper rate
along with fast delivery in comparison with competitive companies.
The business model of AFLEXO is definitely economically sustainable because it uses eco-friendly raw material
instead of chemicals.
AFLEXO usually never run out of cash because of continuous demand of its services in the field of designing.

customers’
perspective
will your
offering be
better,
faster,
cheaper etc
than
competitor
s?
Is your
business
model
economicall
y
sustainable
? Can you
show you
won’t run
out of cash
quickly?
Mission Statement Write a
Mission
Statement
Through the professionalized services AFLEXO wants to bring pleasure and leisure in the
life of people at minimum cost along with sustainable use of resources (Zahro, Lyau and
Nurhadi, 2020).
Team – Mission, aspiration, risk propensity
What’s
your
entreprene
urial
mission?
What level
of
aspirations
do you
have for
your
Provide variety of design as per the changing trends and becomes the globalized company of the world is the
entrepreneurial mission of AFLEXO.
Creativity and digitalization are the aspiration behind the achievement of this mission by AFLEXO.
Providing below the lead services and ignoring customer needs is one of the major risk that
AFLEXO will don't want to take.
Wrong interpretation of trends and needs with the adoption of digitalization where it is not
required may create another risk in the form of loosing its regular customers.

entreprene
urial
dream?
What sort
of risk are
you/are
you not
willing to
take?
In what
ways do
your
mission,
your
aspirations
or risk
propensity
add new
elements of
risk to the
venture?
CSFs
What are
the critical
success
factors in
your
industry?
Write out
CSFs in full
Grabbing more customer along with fulfilment of their needs, providing unique designs, cost-effectiveness
and various other factors may lead to great success in terms of high profit and sales for the designing
companies.
Team – Can you and your team execute?
Can you
demonstrat
e that your
team can
execute on
AFLEXO and its team can easily meet the CSF because it has skilled and trained team who is very
specialized for their unique ideas and thoughts ((Lang and Liu, 2019)).
Yet the team of AFLEXO can meet all CSF but still making the design at low cost or cost effective
CSF is found to be difficult for the team to meet.

these CSFs?
Have you
identified
what CSFs
your team
is not well
prepared to
meet?
What risks
do answers
to the
above
questions
add to your
risk list?
Due to not meeting cost effective CSF by the team of AFLEXO, it may face the risk of incurring
losses in terms of cost of operation and loosing of customers.
Team – your connections matter
Who do
you and
your team
know up
the value
chain?
Who do
you and
your team
know down
the value
chain?
Who do
you and
your team
know
amongst
competitor
s and
substitutes
Suppliers of AFLEXO can up the value chain so it is important to improve relation with them for
getting raw material at affordable prices.
Poor workforce, low technological advancement may leads to down the value chain of AFLEXO,
thus it is very essential for it to provide the training and upgrade technology in order to again up
the value chain (Aakko and Niinimäki, 2018).
One of the family member or close relative of the team of AFLEXO may become the biggest
competitor for it because that person is also coming up with the same technique and business idea
like the AFLEXO uses.
The key in the team of AFLEXO is usually in the form of communication and behavioural gap which
AFLEXO can easily remove by implementing effective communication policies or behavioural
models in its management.

?
Where are
any key
gaps in your
team’s
connections
and how
can you fill
them?
Conclusion Overall
assessment
of the
opportunity
and the
risks
involved.
AFLEXO may face risk in the form of technological and behavioural change of the customers
regarding the interior designing. While, it has bright opportunity in terms of raising market share
and competitive place due to the high demand of its quality services.
References:
Books and journals:
Aakko, M. and Niinimäki, K., 2018. Fashion designers as entrepreneurs: Challenges and advantages of micro-size companies. Fashion Practice. 10(3).
pp.354-380.
Gurova, O. and Morozova, D., 2018. Creative precarity? Young fashion designers as entrepreneurs in Russia. Cultural studies. 32(5). pp.704-726.
Lang, C. and Liu, C., 2019. The entrepreneurial motivations, cognitive factors, and barriers to become a fashion entrepreneur: A direction to curriculum
development for fashion entrepreneurship education. International Journal of Fashion Design, Technology and Education. 12(2). pp.235-246.
Todeschini, B.V. and et.al., 2017. Innovative and sustainable business models in the fashion industry: Entrepreneurial drivers, opportunities, and
challenges. Business Horizons. 60(6). pp.759-770.
Zahro, S., Lyau, N. and Nurhadi, D., 2020. Developing Young Entrepreneurs in the Fashion Field through Extracurriculars Activities. Home Economics
Journal. 4(1). pp.20-27.