Business Ventures: Planning, Leadership and Market Analysis Report

This report provides a detailed analysis of entrepreneurship and leadership within business ventures. It explores how business ideas are created and developed, emphasizing the importance of customer-centric approaches and ideation strategies. The report delves into the significance of business plan development, highlighting its role in securing investment, formulating marketing strategies, and attracting talent. Furthermore, it examines how market opportunities are evaluated, including environmental factors, competition, and product differentiation. The analysis includes insights on how managers and leaders can build credibility and confidence within their teams, along with the development of effective marketing and sales strategies, risk mitigation, and financial planning for new ventures. The report underscores the necessity of a strategic approach to business planning and market analysis for the success of entrepreneurial endeavors.

ENTREPRENEURSHIP
AND LEADERSHIP OF
BUSINESS VENTURES

ABSTRACT
It has been described in report about the planning for business they can be prepared
for many factors and work strategically as the market is very competitive and there are
many difficulties especially for a start up because there are many barriers to enter into
the market. Also, it is explained about necessary to make a plan for business which
covers every important measure to be assessed. Moreover, it is discussed when going
for development of products the idea taken must be from the customers and that too on
the basis of their needs and wants. This helps to increase the rate of success and with
satisfying their needs and wants they will be able to increase the reach

Table of Contents
ABSTRACT....................................................................................................................................2
1. INTRODUCTION......................................................................................................................4
2. LITERATURE REVIEW...........................................................................................................4
2.1 How business ideas are created and developed..........................................................4
2.2 How the process of planning and developing a business plan helps support a new
business venture.......................................................................................................................6
2.3 How market opportunities are evaluated / environment / competitors and product
service differentiators...............................................................................................................7
3. ANALYSIS...............................................................................................................................10
3.1 How manager and leader will ensure credibility and confidence to team for new
business idea...........................................................................................................................10
3.2 How to develop effective marketing and sales strategy planning for risk and funding
and finance...................................................................................................................................11
4. CONCLUSION........................................................................................................................13
5. REFERENCES........................................................................................................................14

1. INTRODUCTION
Entrepreneurial leadership as organizing a group of people to achieve a common goal using
proactive entrepreneurial behavior by optimizing risk, innovating to take advantage of
opportunities, taking personal responsibility and managing change within a dynamic
environment. This report focus on issues such as development and creation of ideas for
business. The process of planning and developing a business plan helps support a new
business venture. Market opportunities are evaluated / environment / competitors and product
service differentiators. The management team / owners of a start up can establish credibility and
confidence in their ability to lead and manage a new business. To develop effective Marketing
and sales strategies / operation and operating plan/Planning for risk and mitigation Funding and
Financials – evidencing how a new idea could be viable. This report helps to assess that why it
is necessary and helpful for the business to evaluate the forces of the market and be prepared
for the outcomes of it as the uncertain event can look ahead of it (Volery and Mueller, 2018).
2. LITERATURE REVIEW
2.1 How business ideas are created and developed
Ideation Strategy involve everyone in the quest for ideas
It is necessary that business make a place for suggestion box in order to get the ideas
from employees or general public which can help them to bring creativity in the sector of
corporate. It is necessary that they do not restrict their limits of finding the ideas and look for all
the other places from where it can be generated. They involve employees so that they can work
with them. Companies conduct campaign only for getting ideas where both the parties can
share their idea to each other. This is done with the customers that are internal to the business.
This aspect is done under the leadership of idea searcher with the intelligence of business
(Burns, 2016). For instance patent of a product for the company was near its date of expiry
which is why business needed to have ideas that are solicit so that they can sell more of their
products till it expires. It was not classified under the section of problem for marketing instead it
was marked for a lack of problem for ideation so that they can sell it to every corner. In a case of
medical company employees were putting a lot of efforts in order to make the campaign
successful by wearing boards so that ideas for reducing of diabetes can be found or how can
one medication can be switched to another. With that they opened up a site so that employees
can register their ideas there. More the employees are included in the process more the
company will be able to generate the ideas (Sklaveniti, 2017).

Involve customers in the process
Products that are newly launched by companies into the market is launched from the
ideas that are derived from the needs and wants of the customer. It is considered to be more
efficient and fast as compared to the method of sessions of brainstorming so that it can be
developed internally with the help of research and development. Even the strategy of focus
groups fails when it comes to taking ideas from customers because with the help of that
company is able to get the insight of the ideas. For example companies such as BMW has to
maintain their image in the market and in order to do that they need to assess with the designs,
technologies and features that are new. For this they changed their conventional method and
opened up a Virtual innovation agency so that they can listen to the opinion of customers
directly. This way site can be a platform where customers and enthusiasts are sharing their
ideas with each other. The process of VIA that is launched by the company helps to share the
ideas with just internet being a minimum demand so that they can submit the ideas and keep it
protected. If the company believes that the idea has potential then they follow it up (Miao and
et.al., 2019).
Involve customer in new ways-
With time every company has to evolve their use of methods so that they can work with
new approaches at less and different rates. In order to collect evidence companies conduct
survey so that they can get the opinion of customers. This helps them to get insights of
approaches that are new and that can improve the level of satisfaction to the customers. It is
important that salesman of the business are trained as per the demand made by the customer
not upon the target they have to achieve for the company. This way they will be able to assess
that if they want products that are of high quality or value for money. This will help them to
classify their business into two sections one for budget oriented customers and one for quality
oriented customers who are willing to pay more. This way they will be able to enhance their
reach to more buyers and serve more people and leave the competition behind. In order to get
ideas it is necessary that new areas that are out of the field is explored so that they can be the
first mover of the technology offered in the market (Reid and et.al., 2018).
Focus on the needs of customers that are unarticulated-
There is a reason that traditional people and focus groups are not considered as efficient
and that is because they do not have anything new they share their opinion only on the ideas

that already exist in the market. This is why the leaders of the company focused on the needs of
the customers that is articulated which asks them to considers products on a hypothetical vision
just so could see their response. For instance the invention of microwave oven was done on
these factors. This is because it is used for quick use and heat up the food faster than
conventional oven whereas when it comes to roast or steak it is not that effective. This aspect
states that company must focus on the ways that helps to remove the frustration of customers
(Chang and et.al., 2017).
2.2 How the process of planning and developing a business plan helps support a new
business venture
If the process of planning is done effectively then it will help the business to start up their
venture with a guide for each stage so that every aspect can be managed effectively. Business
plan will help the company to work as a map for the path they need to follow so that they can
structure their business on the basis of it. This way they can achieve growth in the market. this
way all the key elements can be assessed and evaluated. Business plan can help in many
different areas such as
Seeking investment for business-
This is done in addition of being a roadmap for the company. Planning for business will
also help them to secure the funds that they are seeking. There are many options to get funds
to start up the business and that is to get it from bank or search for investors. It is necessary
that the plan decided for business will help them to assess the viability of the operations so that
they can generate the revenue. This will help the investor to assess how much amount is
suitable to invest in the specific line of business.
Creating a strategy for marketing-
Marketing and potential of market are considered as important so that they can plan the
business and convert into businesses that are small. The business plan must assess the
strategy of marketing on the basis of demographic factors so that they can target all the people
who lives nearby. Strategy of market can include breakdown of target market, penetration of
market. with the help of these strategies they will be able to form up a plan that how to target
and who to target so that they can set their reach to right people and improve their sales in the
market (Mathews, 2017).
Hiring the right talent-

With the help of business plan start ups get the idea which employees they need to hire
and what professional services will they need such as consultants, attorneys or accountants so
that they can make sure that their lease is secured. In order to attract employees of top
knowledge they need to make sure that they have presented their methods and techniques
which will be used by them so that they can get to serve more customers. This is considered as
very important measure if business that has started newly wants to succeed in the market. In
order to do that they need to comply with the factors that is to attract people who possess talent
and skills. Also it is necessary that the plan also works as a roadmap for them so that they can
work up to their potential in the market. This way they will be able to maintain the relation with
the suppliers of the company (Carsrud, Renko-Dolan and Brännback, 2018).
Setting objectives for management-
With the help of business plan start up can form the structure on the basis of their
derived objectives. It can be assessed with the tool of management which will help the company
to measure the sales and this way targets set will be achieved. If it is used properly then
business will have the idea of making the way for the path that is goal oriented. It is very
important to add the plan of insurance for business as no one can be prepared for the uncertain
events. This way they will be able to keep their operations safe in the market (He, Standen and
Coetzer, 2017).
Requirement of Assets-
In order to keep up with the forces of market it is necessary to increase the level of
machinery and maintain the software of the equipment that is advanced so that it eases the
work. It is important that the assets that are going to be added are done under the set budget so
that no difficulty is faced. With proper planning they will have the clarity to the process of making
a choice for the assets that is whether to buy it or lease it. This way they will release and
allocate the funds in the right manner. If they have planned properly then they will be able to
decide that whether or not they require a warehouse or extra office (Godwin, Neck and D’Intino,
2016).
2.3 How market opportunities are evaluated / environment / competitors and product
service differentiators
Before finalizing a venture for business it is important that the worth of pursuing the line of
business is viable or not. This will help the owners and entrepreneurs to evaluate their options

so that they can narrow it down. This way they can make the decision on the basis of the line of
business that has the highest potential. Every business dealing in the market wants to achieve
growth but if they focus only on that it can turn out to be risky for them. That is why they need to
put their team to work and focus only those areas that are considered to be the priority for the
company. There are some steps which help to assess the opportunity in the market.
Research your customers and competition-
With the help of research they can analyze that there are customers and competitors on
levels that are formed on multiple stages. This way demand of the product in the market can be
assessed and the executives can judge if they are real or not. This way decision for increasing
the scale of expansion for a market that has a better rate of growth can be taken. It is necessary
to identify the customers and its segments so that they can share the characteristics that are
common such as gender, age, income or other factors such as their values and standard of
living. The level of motivation of consumers will tell how much expectations must the business
keep for its operations. With this barriers that affects the rate of growth. It is necessary to
assess the differences that are offered by the company and their competitors so that they can
highlight their strength and weakness and improve them (Neumeyer and Santos, 2018).
High level view of the market-
In order to gain the potential it is necessary to understand the forces of the market. This
needs to cover every major aspect. If not this then the company will be forced to think that only
few points of increase in percentage but they will work on that approach that potential of the
market will be increased. With the help of research the objectives can be assessed so that intra
company thinking can be assessed. The analysis of the market is done on the factors such as
size of the market, rate of expansion or contraction, level of buyers with their quantity, barriers
that need to be overcome so that they can enter into the market, bargaining power of suppliers,
value chain of the industry with the level of competition faced in the market and the level of
threat that is imposed from the products that are similar and offering that is substitute of it
(Henley and et.al., 2017).
Explore adjacent opportunities-
In order to evaluate the opportunities that exist in the market they need to assess the
companies that have growth and profits which can be sustained. This is done with a approach
that undertakes all the protocols. This will help them to reach the core of the business so that

they can expand their scale of operations into an space that is adjacent. There are some
companies who has enabled the strategy of geographic expansion that is to expand from one
market to another and on the other hand there are some operations that can be done with the
model of the business that is existing into the market with segments that are adjacent. There are
many cases such as toothpaste by P & G which was divided into two categories that is for
whitening and brushing. With this they used the same channels of marketing to same customers
and they added around more than $ 200 million sales in a year (Tur-Porcar, Roig-Tierno and
LlorcaMestre, 2018).
Factors of business environment-
Another area is to explore the environment of business through which they have a
profound impact on the performance of the company so that they can operate. There are many
different factors included in that such as development in technology, regulations of government,
shifts in the geopolitics, indicators of the economy, policies for trade, norms for social and
cultural aspects. There are other factors which states that after the issue of Brexit the level of
spending has increased which is for the healthcare and fees charged by the physicians. It is
important to evaluate all the opportunities of the business that are new so that they can be
prepared for the challenges of it.
Finding the research of market-
This process is considered as the most important but it consumes a lot of time because
it involves collecting the information and synthesizing it with the categories that are classified in
the market. It is necessary that company has thorough knowledge and understanding of the
market which involves all of it such as competition, customers, industry etc. The size of the
market, its share, forecasting in the market and regulations of information with demographics of
consumer. The analysis is done so that they can assess the opportunities of growth in the future
and bringing the innovation into the market so that they can bring products that are futuristic and
ready for the new generation so that they can match up with the strategies of marketing. It will
be helpful for the company to conduct research that undertakes both the niche market and
research of custom market so that they can match with their specifications. This is done by the
analysts which are hired by the company which helps them to take decisions such as taking
initiative for developing a product, expansion on the basis of geography, acquisitions and
mergers, competitive intelligence, planning strategically and taking decisions for the customer
(Leitch and Volery, 2017).

3. ANALYSIS
3.1 How manager and leader will ensure credibility and confidence to team
for new business idea
It is necessary for manager to manage team of business in effective way so that goals are
attained. This is because it enables in building confidence within the members. This enables in
managing business as well. However, manager is responsible for ensuring credibility within
team. For that there are many technique in it. They are defined as below
Establishing Credibility cannot be occur overnight, but entrepreneurs needs to establish new
strategies that aids to build credibility more accurately as well as effectively.
Be sensitive- there is a need of the demonstrate empathy for team members as well as for
consumers. It can goes beyond through politically correct within business but also fully
understand the desires, background regarding all the stakeholders. For example if an
entrepreneurs bootstrapped start focusing on the significance regarding cutting expenses as well
as working more number of hours and for less than market rate is completely out of touch if
entrepreneurs showing their new BMW.
Be honest
It is the best saying that honesty is the best policy and without any doubt one of the major thing
that kills credibility instantly is dishonesty. As Lying will kill the efforts but also at the same
time giving unnecessary information out of context in manipulative or selective way. As
Stakeholders of a firm needs transparency so be straight forward about the goals as well as
business.
Be Knowledgeable
Having skills vital to achieve goals will also provides confidence as well as put the stakeholders
at peace welleace. This is noted that knowledge alone cannot necessarily translate into
leadership as well as some of the individual also focuses on particular areas of knowledge that
can fail to see the importance of necessary skills as well as other disciplines to lead their teams.
There is a need a balance between skills necessary as well as pursuit of knowledge that can leads
the team of an entrepreneurs.
Promote achievements-First time to learn as well as recognize achievements within business as
well as within career. Even there is a small achievement that can be identified if they can directly
influence to building the credibility. Next learn all the achievements as well as centre. Here share
them within stakeholders ,promote them on LinkedIn profile by listing them on websites.
Entrepreneurs also feels of their achievements as enable them to speak their credibility.

Be consistent- Everything an entrepreneur say as well as think must be consistent. The actions
they take, the messages as well as things that will allows as well as mind their thoughts.
Thus, these are the ways in which leader will ensure credibility in team about new business.
When things allow in evaluating then it is easy to do things in proper way. Therefore, manager
will provide them training to them so that they get insight on how well business is going to be.
3.2 How to develop effective marketing and sales strategy planning
for risk and funding and finance
Marketing strategies are commonly identified as a successful regardless of industry.
Content marketing- It focuses on education over selling to impact the purchasing behavior.
These are the types of the strategies that focuses on distributing as well as creating information
accurate to the prospect’s required in order to attract such as best aligned. Content marketing is
also vital component to an overall inbound strategy but unable to integrate other methodologies
that can maximizes the overall inbound strategy as unable to combine other methodologies of
marketing to maximizes the content value.
Inbound Marketing- It is one of the most effective marketing strategy because it hinders the
strength regarding majority of other strategies such as to engage, attract as well as delight
consumers. An inbounds method earns the attention of consumers as well as pulls them to a
firm’s website through producing the meaningful content. It is relevant as well as appears within
right time, inbound invites visitors within rather than traditional one. Inbound marketing is also
effective because it has giving more knowledgeable data, works for business of any type or
size. It can also easily managed as well as combined through using a Consumer Realtionship
Management ( CRM) system such as HubSpot CRM.
Social Media Marketing- It focuses on giving users alongside content they find valuable as well
as needs to share all over social media platforms, resulting within enhanced visibility as well as
traffic. Social media focuses on sharing content, videos, images SEO efforts within that they
enhances relevancy within search results in social media platforms such as Twitter,
Facebook ,YouTube, Instagram and also search engines such as Yahoo and Google.
Search Engine Optimization
It is a kind of the process of enhancing awareness about a specified websites through making
sure appears natural results on the search engines such as Yahoo, Google, Bing and many

more. Also there is a misperception that can be stand alone marketing as various tactics also
working together to a strategy called inbound marketing strategy. There are other marketing
tools that generate websites visits such as social media, banner ads, email, social media as
SEO is also vital due to the search engine are considered as primary ways where users search
on the internet. It is effective because it an affordable way to keep the brand competitive, also it
regularly evolve to keep pace with local search engine optimization , also simplifies searchers
for consumers interested within goods as well as services.
Account Based Retargeting and Marketing
It is known as the strategy that focuses on a set of accounts that have highly personalized
campaigns. It also gives marketing as well as sales teams alongside a various number of
benefits that involves a higher fast process, more efficient as well as cost effectiveness use of
the marketing resources.
Sales strategy
It is essential for business to identify and select proper sales strategy so that products
and services are sold in market. So there are various sales strategy which can be
followed in it. They are defined as below
Most prospects either don’t recognize or can’t articulate the root challenges they
struggle with on a daily basis. So, even if Business sell a truly remarkable product, the
buyers probably won’t recognize the real value offer to their organization.
Setting method
The company must determine how to go about selling and promoting their products
when developing a sales strategy. In other words, will contact customers through the
mailphone Or emails Many companies use all of those methodsand more in their
quest to meet a potential client face to face. In fact, much of how a salesperson goes
about pushing products and services is.
Analyzing Trends
Occasionally, a product will go out of style and need to be updated, or
replaced altogether. In other instances, the economy will determine how
much a consumer is willing to spend on a certain product. Understanding
these types of trends is a big factor in developing a sales strategy. The best
strategies prepare themselves well in advance for when products become
less popular or when financial markets fluctuate