Entrepreneurial Opportunity & Idea - Doc

Entrepreneurial
opportunity

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK...............................................................................................................................................3
Introduction to entrepreneurial idea and its value proposition...............................................3
Two entrepreneurial theme.....................................................................................................5
Business idea development.....................................................................................................6
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Entrepreneurial opportunity refers to those chances which are attained by some new and
innovative idea or concept that provide support to gain better outcomes. An entrepreneur is a
creative individual who generates unique and effective thought through analysing actual needs of
people to manufacture appropriate product to fulfil the same properly (Larson and et. al., 2011).
An entrepreneurship can be described as a process to in which an individual create an innovative
idea to start up a new venture to complete desires of people and earn better profits. This report is
based on “Children's planet” which is fresh venture having concept of providing health care
facilities to children. It has an effective strategy to determine special needs of children and fulfil
them in correct manner. This assignment will discuss about uniqueness of idea, target market,
value proposition, and way to complete customer's actual requirements in an accurate manner
along with marketing strategy or plan.
TASK
Introduction to entrepreneurial idea and its value proposition
Business idea is to build “Children's planet” for children with special needs to provide
online services to solve health issues along with conducting their counselling to gain good habits
for remaining fit. It includes to utilise an innovative technique of telehealth which involves use
of patient portals to exchange information about medical issues and get required facilities on by
the same. In case of Child care Home, they have established child health portals and provide
proper services to solve health issues of them in correct manner. The uniqueness of this concept
is to establish contacts with different health care organisations situated in nearby locations that
render facilities to children immediately. It will help to fulfil a special needs of a child without
visiting main work place of Child Health Care. They have also provide knowledge about disease
free habit along with regular vaccinations to be taken and stay well being (Burchinal and et.
al.,2011).
The target market of of this business includes children from infants to 10 years of age
group with special requirements to which medical services are provided to complete their
requirements in correct way. An innovative idea to render online services will helpful to children
as they feel difficulty to travel for long journey. Apart from this, target customer may also
involves parents of children because they have right to take any decision about their kids to take

particular health care services of their well being. Moreover, they can get access of health care
portals and conduct all desired vaccinations or pills at correct time with help of the same. It
includes the criteria of of using smart pills, vaccinations, childhood cancer cure, genomics, stem
cells and many more other facilities which are beneficial for children. The value proposition
involves that it provides facilities to people living in rural areas where transport service is not so
good. Thus, they can contact with nearby specialists and convey whole case to them and render
more effective medication to children for solving their critical health issues immediately.
“Children's planet” has an appropriate concept of using telehealth technique in which
several technologies are used to provide online medications to people and solve them properly. It
includes several technological factors such as Extracorporeal membrane oxygenation (ECMO),
Telemedicine, Electronic medical records (EMR), Digital engagement and many more. Child
health care portals are helpful to children for gaining proper information about their regular
schedules of check ups which facilitate to remain healthy. In this organisation, it has one more
concept of making an effective relationships to accountable care organisations and laws that
protect people from severe diseases. An appropriate framework has established that involves
several elements like consumerism, family-centred service, population health, creative
innovations, multi institutional collaborations, improved accountability in philanthropy. Thus, all
these idea or practices will provide help to sort out health issues of children and gain strong
youth for developed future of country. The portals of patient automatically maintain records of
several pathological reports and other data of prescription that can be e utilised in future for
completing desires of kids (Groeneveld and et. al.,2011).
The actual requirements of potential customers can be observed and analysed by
monitoring overall child health care portals where they can provide information about their
special needs regarding health issues. Sometimes. It is evaluate that people get hesitate to tell
about their actual health issue when they interact face- to- face with medical professionals. Thus,
portals are mush effective as it provides opportunity to right each and every small or large issues
in an accurate manner so that specialist become capable to prescribe best service to them. After
having contacts with different clinicians who had practically examine the patient will also
helpful to recommend more suitable diagnosis for them and indicate to apply the same for
getting desired results. In case of “Children's planet”, owner is having several innovative
methods that are supportive to reach customers such as online counselling of kids, telemedicine,

smart pills, vaccinations, childhood cancer cures, genomics, stem cells, surgical advances and
respiratory supports. They have an effective way to reach rural or porch area clients by
establishing partnership with different nearby located organisations and convey them whole
medical case to render proper treatment. This method is helpful to children as they get special
and beneficial treatment in nearby clinics without travelling long journey and company gain grab
more number of clients along with better area for business (Sylva and et. al., 2011).
Two entrepreneurial theme
In the case of a new venture of “Children's planet” , there are various opportunities which
can be created or may grabbed by business to gain better profits. It will provide support to attract
new client along with retaining current ones which facilitates to boost up growth of organisation.
There are several entrepreneurial themes which render help to business for increasing their
profitability along with achieving growth of business. It is essential for new ventures to observe
and analyse thoroughly about suitable entrepreneurial them and apply them in company for
grabbing better chances of improving customer reach and goodwill of business to attain success.
Basically, idea of child care home is gained by assessing the need of kids across the nation as
most of the children’s are not having homes, failed to fulfil their basic needs and demand. Thus,
it is essential to focus on two distinct themes for understanding the need of establishing child
care facilities to various needy children’s.
Opportunity recognition- According to this element, before establishing a new venture
owner or entrepreneur needs to create the requirement of child care in order to select specific
area. In fact, as per this concept proper assessment is requisite to identify necessary facts or
figures about the children’s who is encountering life problem. However, an association needs to
focus on their creativity before establishing a large business because analysis demand is highly
indispensable for company success. For example; by conducting surveys it is identified that now-
a-days number of children with specific needs are not having that much of facilities for fulfilling
their basic needs due to which child care is becoming really important. It means, before coming
with new idea of caring needy kids an association needs to understand the current status of UK
as weaker sections of society is facing this major issue. Thus , in order to overcome all these
major issues, some of the members are coming with unique idea to create an opportunity or
possibilities to provide best facilities to the those children’s whomsoever are not able to have
their basic needs due to various reasons (Lange and et. al.,2013).

Opportunity discovery – Prior to recognition of the idea, the task is now to build a care
home which will be able to cater to needs of children with specific needs at the institution or
their homes. Thousands of parents are identified which are failed in fulfilling the requirements of
their kids because of numerous reasons. As a result, this situation discover an opportunity for
new entrepreneur to come up with innovative thoughts in order to facilitate their consumers.
Their main motive is to reduce this problem by developing the weaker sections of society and
ensure that every child will get an opportunity of development. This is only possible if every
individual will understood the requirement of children enhancement because kids are the future
of nation.
Hence, by analysing these two themes it has been understood that before establishing any
business or new idea an organization or owner needs to create the opportunity. Furthermore,
requisite to discover for accepting the society for seeking the attention of each or every required
members. In fact, it has been understood that child care home needs to focus on every sections of
society as well as area to identify the kids whomsoever is going to required these type of
services. However, number of reasons are identified due to which child become parentless and
homeless such as; death of family members, parents, forget their home address, sometime
parents failed to give proper facilities due to poor background and so on. All these factors are
creating as well as discovering opportunity for entrepreneur whomsoever is dreaming to establish
a new idea for gaining competitive advantage or some other reason (Havnes and Mogstad, 2011).
along with this, one of the major reason behind discovering this idea is to fill the gaps between
weaker section of society and rich people because by this opportunity every children get a
chance of development.
Business idea development
Development of idea
First or foremost of this unique idea is to facilitate kids or children’s whomsoever are not
having their home and families in order to develop the society. Basically, this idea is circulated
around the enhancement of small babies and children’s who belongs from age group of 6-15
because this age is a period of gaining basic knowledge. Hence, most unique thing of this idea is
to focus on development of base of every kids which study life just get started. Thus, this idea
automatically get developed by promoting key motive of this plan. As key objective is “to groom

the children to develop the nation”. Thus, this will happen by conducting numerous of
campaigns, programmes and events for informing society about the heart of this child care home.
Operational plan
After analysing the main objective of this idea, its time to focus on strategy to operate in
proper manner as it aids in directing every employees towards corrective path. Basically,
operational plan requires experience person to lead the group in order to suggest staff members
or other individual to accomplish certain job role. Operational activities begins by analysing the
appropriate area to establish this organization in order to gain maximum customers (Belsky and
Pluess, 2013). Mainly, child care home can also use modern tools like internet services to
analyse the current status as well as safeguard the data of children's in their computer or pen-
drive. Moreover, protect it from getting misused by locking it with private passwords.
Resources
Assets are highly indispensable for running of business operations because none of the
organization will work without necessary components. Thus, it is essential for company to hire
some employees or workforce to handle the business activities . Along with this, technology or
modern tools is also requisite to safeguard the records of kids as well as protect confidential data.
Additionally, various other resources are also requisite to run this business in proper manner
such as; sufficient amount of funds, machinery, place and so on.
Reason for choosing or developing idea
One of the major reason behind selecting the idea of children’s development is to
enhance the economy of a nation as well as develop the country by promoting coming
generation. As every one knows that kids are future of nation due to which caring or
development of students is really indispensable. Due to this, it has been understood that this idea
will definitely work and attain its initial goals or objectives in a defined time frame.
Market research
Accumulation of necessary data or information is necessary for making corrective
decision at workplace because of number of factors are identified which create problem while
making final judgement. Thus, company is adopting qualitative as well as quantitative method
for acquiring relevant facts or figures about the kids whomsoever is going to required care home
due to their personal reason. As this care home is providing proper facilities to poor children’s as

well as motive is to groom their overall personality by satisfying their desired need or wants.
Hence, market research is beneficial for company in several manner.
Marketing plan or strategy
Company is focussing on their promotional plan or scheme because this process helps an
association at every stage such as; aids in identifying the difference between fact or lie, supports
in understanding the need of various consumers, analyse the current market position and so on.
Thus, this care home is following proper plan or modern tool like social media to advertise their
idea and unique thought which might attract numerous of clients. Along with this, focussing on
conducting societal campaign also because it aids in understanding views of customer personally
(Ryan and et. al.,2011). Additionally, online campaign is also conducted with the use of modern
technology for identifying the need of child care home for distinct homeless kids.
Marketing mix
Main product of this organization is to fulfil the need of various requisite kids by
providing them necessary facilities. Whereas they are following cost leadership approaches as
products and services are delivered at minimal prices. Additionally, company believes in
connecting society personally for promoting this service and so on.
Competitor analysis
Entrepreneur or new talent are coming at marketplace with unique motive as their main
objective is to facilitate consumers by seeking their attention. Along with this, trying to gain
competitive advantage as most of the competitors are adopting modern method of marketing
whereas traditional one is much better to understand the weaker sections of society because they
are unaware about the advanced technology. An effective comparison between various rivals is
discussed in tabular format.
Competitors Product
Ebury Court care home Believes in offering qualitative services to the
homeless people.
Featherton house They are having limited services.
“Children's planet” Believes in developing the future of country
which shows the long term vision of an
organization.

Hence, above elements helps in identifying the difference between various other care
home and children's planet as this organization is dreaming to long term by developing kids of
the nation.
Financial plan
Care home needs to follow proper plan for controlling possibilities of heavy loss because
these type of associations are totally depend upon trust, donations, charity and so on. Thus, they
need to reserve their funds by considering necessary facts or figures. Along with this requisite to
buy medium quality of products which are reasonable as well as qualitative (business plan,
2018).
(Source- business plan, 2018)
According to above sample, it has been determined that, children's planet can easily
follow this procedure while making financial plan and needs to get prepared for initial losses.
Method of creating profit in organization
It is not easy to emerge profit in care home because almost every services are provide
free without asking for any charge from weaker sections of society. But still company must have
numerous of opportunity to gain maximum benefits such as; make proper connection with higher
Illustration 1: business plan

authorities, engaged in other business also, promote kids to become self dependent instead of
getting depend on others and so on.
Break-even point
According to this component one of the major situation of an organization is going to
measure where company is not having loss neither any profit then this point is known as break
even. In fact, most of the time care home can face this type of situation because they are engaged
in offering low price services as well as free also due to which their profit are almost getting
diminished.
CONCLUSION
From the above report it has been summarized that number of individuals are coming
with unique ideas which are totally distinct from other competitors. Thus, this project was also
focussed on one of the best thought which is; opening of child care home for children’s in order
to develop their knowledge, skills and behaviour. As their main motive is to enhance the
economy of a nation due to which entrepreneur is coming with this unique idea which attract
number of customers. Hence, proper methods of developing business is also explained that is;
need to focus on opportunity themes for understanding the procedure of establishing a new
business at marketplace.

REFERENCES
Books and Journals
Larson, N and et. al., 2011. What role can child-care settings play in obesity prevention? A
review of the evidence and call for research efforts. Journal of the American Dietetic
Association, 111(9), pp.1343-1362.
Burchinal, M and et. al., 2011. Examining the Black–White achievement gap among low‐
income children using the NICHD study of early child care and youth
development. Child development, 82(5), pp.1404-1420.
Groeneveld, M. G and et. al., 2011. Enhancing home-based child care quality through video-
feedback intervention: A randomized controlled trial. Journal of Family
Psychology, 25(1), p.86.
Sylva, K and et. al., 2011. Effects of early child‐care on cognition, language, and task‐related
behaviours at 18 months: An English study. British Journal of Developmental
Psychology, 29(1), pp.18-45.
Lange, S and et.. al., 2013. Prevalence of fetal alcohol spectrum disorders in child care settings:
a meta-analysis. Pediatrics, pp.peds-2013.
Havnes, T. and Mogstad, M., 2011. No child left behind: Subsidized child care and children's
long-run outcomes. American Economic Journal: Economic Policy, 3(2), pp.97-129.
Belsky, J. and Pluess, M., 2013. Genetic moderation of early child‐care effects on social
functioning across childhood: A developmental analysis. Child Development, 84(4),
pp.1209-1225.
Ryan, R. M and et. al., 2011. The impact of child care subsidy use on child care quality. Early
Childhood Research Quarterly, 26(3), pp.320-331.
Online
business plan, 2018. [Online]. Available
through<http://www.bplans.co.uk/day_care_business_plan/financial_plan_fc.cfm>