Strategy for Entrepreneurial Ventures to Counteract Financial Challenges

Running head: ENTREPRENEURIAL VENTURES
Entrepreneurial Ventures
Name of the Student:
Name of the University:
Author Note:

ENTREPRENEURIAL VENTURES
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Executive Summary:
The report below throw light on the most significant issues which entrepreneurial ventures face
namely, scarcity of financial resources. The charity based social development ventures in many
cases resort to crowd funding to raise capital. However, crowd funding does not prove efficient
to raise sufficient capital to support the business expansion strategies of these social development
venture. This requires these ventures to transform into listed companies running on ‘social
benefit model’.

ENTREPRENEURIAL VENTURES
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Table of Contents
Executive Summary:........................................................................................................................1
Overview of the product/service/both offering:..............................................................................3
Overview of the target market:........................................................................................................3
Overview of the business model:.....................................................................................................4
What is the strategy?........................................................................................................................6
The marketing plan:.........................................................................................................................7
Products:......................................................................................................................................7
Pricing:.........................................................................................................................................8
Place:............................................................................................................................................8
Promotion:...................................................................................................................................9
What will the production/operational plan look like?.....................................................................9
Discuss the human resources need into the near future:................................................................10
Summary:.......................................................................................................................................10
Reference:......................................................................................................................................11

ENTREPRENEURIAL VENTURES
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Overview of the product/service/both offering:
The service which would form the base of the study would be social development
platform called Chuffed based in Australia. The firm raises money using crowd funding platform
to support these funds. The firm is currently facing shortage of capital. This is because social
development projects are increasing in scale and consequently requiring more funds. The
entrepreneurial firms which initially raise funds using crowd funding face the issue of lack of
financial resources. They in order to sustain in the market have to adopt strategies to counter the
issue of financial weakness. The report would explore a strategy which would allow
entrepreneurial ventures to counteract the issue of lack of financial resources. The main country
which would be taken into account while conducting the research would be Australia.
Overview of the target market:
The main target market which the social developmental project offering venture namely,
Chuffed targets consists of Australia, its home country. The firm has also entered Europe, the
United States and the United Kingdom. The social conscious project market in Australia consists
of different types of awareness programs. For example, social enterprises creating health
consciousness among the people is one of social development segment (Vichealth.vic.gov.au.
2019). The other types of social conscious project include varied services like creation of
awareness like environmental sustainability and safety management.
The target host markets of Chaffed consist of Europe, the United States of America and
the United Kingdom. These market are also suffering from several issues which are having
negative impacts on the society and require creation of social consciousness. For example, the
United States of America faces several environmental challenges like marine pollution and