Entrepreneurship Development: Lean Start-up, Business Objectives, Customer Value Proposition

This report focuses on entrepreneurship development and explores the concept of lean start-up, business objectives, customer value proposition, and the detailed development plan. It also discusses possible future development or changes in direction. The case study is based on Kindle Sanitisation, a business providing herbal hand sanitizers.

Entrepreneurship
development

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Introduction to the lean start-up..................................................................................................1
Business objectives for the first three years of operations..........................................................2
Customer value proposition Canvas............................................................................................3
“Lean” business model Canvas...................................................................................................4
Detailed development plan..........................................................................................................6
Possible future development or changes in direction..................................................................8
Summary to provide finance to lean start-up..............................................................................9
CONCLUSION .............................................................................................................................10
REFERENCES..............................................................................................................................11
APPENDIX 1.................................................................................................................................13
APPENDIX 2.................................................................................................................................13

INTRODUCTION
An entrepreneurship development is basically defines as the process that is used to
improvise and advances the skills set and functionality along with the advancement of
entrepreneur knowledge. It is a procedure that consist of different programme through which
suitable couching and training is provided to an entrepreneur by which achievement of goals and
objectives is improvised and also implemented in sustained manner. The development of
entrepreneur is a process that is used to design, launch, running of the business through which
willing and ability of business to make organised changes is enlarged along with this more profit
is developed by managing the risk (Achakpa, 2018). The following report is based on “Kindle
Sanitisation” that provides herbal sanitisation to the customers so that they have become clean
their hand frequently and it also contain 70% Ethyl alcohol. The report includes introduction to
lean start-up, business objectives, customer value proposition, lean business model canvas,
detailed development plan and possible future development or changes in direction.
MAIN BODY
Introduction to the lean start-up
The lean start-up state the working consequences of the business that is used to make
moderate level of advancement within the working standard so that productive outcome is
conceived in timely basis. The “kindle Sanitisation” is a new business that has developed the
hand sanitizer so that better care is provided to the customers and its products and considerate of
70% Ethyl alcohol so that all the germs are killed on same time period. The particular sanitiser is
developed within different flavours such as Lemon, Tulsi (herbal product) and Neem that is also
be the natural herb that include Azadirachta and known to kill pesticide and insecticidal. The
business has worked to satisfy the need and demand of society along with this provide adequate
care so that people has cope over from the virus that is spread due to COVID-19. It is actually be
the most profitable business for now a days as in this era virus is spread on larger basis and
development of sanitisation is the only precautionary kit that is used by the business (Adhikari,
2018). It is the most efficient way that is selected by an entrepreneur as in terms of business and
in this more of the profit and sales is attained with more suitability. It is an innovating idea that is
selected by the business as they have provide the non-sticky and moisturising sanitizer that has
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killed 99.9% germs with better effectiveness. The hand sanitiser is based on the level of hygiene
that protects and individual from harmful sanitizer and under this business attain more profit.
Business objectives for the first three years of operations
It is beneficial for “Kindle sanitizer” to spark the economic advancement by which
creation of job, supportive contribution towards the improvement of GDP, living standard,
development of skills and talent, exporting and increasing in GDP all get affected. The clear
objectives of “Kindle sanitizer” is dependent to offer safe package to an individual so that they
have not only kills the germs but also protect themselves from virus and other unhygienic
activities as well (Aquino, 2018). The attain more competitive advantage as from the business
start-up “Kindle sanitizer” has developed SMART objectives that reflect the 3 year of operation
while considering profit, sales and profit margin and it is as explained below as:
 Specific- The transparent objective of “Kindle sanitizer” is that they have worked over to
enhance the potential customer based with 30% and in addition measure 35% increment
in sales while 22% increment in profit margin.
 Measurable- “Kindle sanitizer” measure its objectives by enlarging the brand image and
value with standardised manner and for this they have worked over for promotional
advancement in appropriate manner.
 Attainable- It is an objectives in which “Kindle sanitizer” has hired adequate employees
so that working and accomplishment of goals and target become more sustained along
with this more profit and revenue is developed in continuous period of time.
 Relevant- The relevancy of “Kindle sanitizer” is based on the achievement of target
within stipulated time period so that moderate amount of profit is attained.
 Time bound- “Kindle sanitizer” has bound certain time and in this they have worked
over to develop sales with 30% and profit with 25% in upcoming three years (Atiase,
2018).
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Customer value proposition Canvas
(Source: What is the value proposition canvas, 2020)
Value proposition canvas: It is a tool that is used by the business in order to ensure
about the products and services that is proposed by the business as in order to fulfil the need and
demand of customers. It is briefly explains the interrelationship in between the customer segment
and value proposition (Chernopyatov, 2018). “Kindle sanitizer” has uses this tool to analyse the
interlink in between key values that is required to associate with the products along with this
ensure that customers requirement are fulfilled in constrained mode. It has been designed to
measure the effectiveness as it include different component which is analysed by “Kindle
sanitizer” that is explained below as:
 Product: It is a factor that is based on the sustained model through which more benefits
and better experience is provided to the customers as in terms of advanced features. In
this “Kindle sanitizer” has gain more values within the competitive marketplace so that
appropriate level of innovation is constrained and along with this also worked on to make
something different so that productive modification is induced by which it is easy for the
business to influence the buying behaviour of the customers. It is more required that
company has developed the product and services that is comparatively different and
added up with new significance by which it is flexible and easy to make its product
different and attractive (Coulibaly, 2018). For this “Kindle sanitizer” added new flavour
and ingredients so that its product become completely different from other and in
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addition to this more herbal components are added up that make it more impressive. In
this more of the customers get attracted as it kills around 99.9% germs with more
easiness. Thus better care is provided to all the individual and more specially it is offered
with reliable prices or cost and in addition the quality frameworks also get maintained in
sustained basis.
 Customers: It is the most essential aspect for any of business as in this as much the
potential customers business has that much profit is gained by them with better
suitability. “Kindle sanitizer” is being worked over to enhance the gaining and covering
up the pains by which both short and long term profit and sales is attained in constrained
mode. It basically includes the profile of customers that is carried out by the company
and then furthermore they have make moderate changes within the hand sanitizer as per
to match up the compatibility of potential consumers (Dhahri, 2018). The business has
tries to satisfies more of the customers so that its ability to influence the buying
behaviour of customers is enhanced.
“Lean” business model Canvas
Key partners
 Suppliers
 Creditors
 Customers
 Employee
 Investors
Key activities
 Selling
 Promotion
 Merchand
ising
 Advertise
ment
Value
proposition
 Providing
suitable
hand
sanitiser
with
affordable
pricing.
 Offering
suitable
products
and
services at
liable
pricing so
Customer
relationships
 Quality
services is
provided
at stores.
 Balanced
level of
innovation
is induced
as per
suitability
of
customers.
Customer
segment
 Larger
market is
target and
product is
provided
at all the
price.
 Provide
hand care
so that
hygiene is
maintaine
dKey resources Channels
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 Human
resource
 Funding
 Resource
availabilit
y
 Machiner
y
that
customers
get
satisfied
(Gontarev
a, 2018).
 Online
platform
by making
own portal
or
associated
other
digital
platforms.
Cost structure
 Annuity in advance
 Salary and wages
 Market investigation
 Advertisement, promotions and
marketing
 Cost of resources and equipments
Revenue stream
 Sales from online selling
 Revenue generation from association
with other digital platforms
Business canvas model: It is a model that is used as a strategic management technique as
it is followed by managing the working so that its purpose is attained in timely basis. It is a
visual chart that consist of different elements that describe better good and services that proposed
more values, infrastructure, finances, resources, channels, customer segment and relationship,
revenue streams and cost structure (Haghighi, 2018). “Kindle sanitizer” has launched its new
business and in this they have considerate different functions that is as explained below as:
 Key partners: These are the basic elements of business which is used to enlarge the
scope and working deliverables in sufficient mode. “Kindle sanitizer” has a lot of internal
and external partners as like employee, customers, suppliers, clients, creditors, investors
as these all assist the business while operating its functions.
 Key activities: It defines the different set of activities that is used by “Kindle sanitizer”
in order to produce hand sanitizer and for this they have perform promotional activities,
marketing, selling and advertisement so that long term success is achieved.
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 Key resources: It includes the effective resources and its utilisation that is used to
perform different function with more comfort and flexibility. “Kindle sanitizer” requires
machinery, equipment, human resource and funds to conduct operations in systematic
format.
 Value proposition: It define the products and services that is presented by the business
to its customers so that more of the values are create within the marketplace. “Kindle
sanitizer” has its proposed values such as customers and its experience.
 Customer relationship: It has been used to promote long term sustainability within
which effective values is transferred in the market (Khan, 2018). For this the “Kindle
sanitizer” has worked over to provide quality services with affordable prices so that large
market is captured.
 Channels: It describe the distribution channel that is selected by “Kindle sanitizer” in
order to transfer its effective services by which clear focus is maintained towards
grabbing much attention of market. “Kindle sanitizer” uses own portals and also get
associate with altered digital platforms.
 Customer segments: It state the market that is targeted by the business and in this the
“Kindle sanitizer” has sold its product in competitive market (Sarango-Lalangui, 2018).
 Cost structure: It is a structure through which “Kindle sanitizer” has sold its product and
services in reliable prices along with this manages rent, material costing, salary of staff,
promotional activities etc.
 Revenue streams: It describes the different streams through which more of the funds is
generated and it is as like creation of advertisement, selling of goods and services from
other social platforms etc.
Detailed development plan
The marketing plan:“Kindle sanitizer” has uses this plan to define the strategic
applications that is selected by the business in order to gain more profit for longer period of time.
It is usually a comprehensive document that is used to put more efforts so that overall working
efficiency and effectiveness is getting enlarged (Leonidou, 2018). It is also be the blueprint that
describe the outline of marketing as in this more of the resource are acknowledge to achieve
standardised objectives of business. In support of these strategies more of the sales and profit is
developed so that more of the customers are acquiesced. It describe the different marketing and
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advertising strategies and goals that is attained by the “Kindle sanitizer” within timely
constrained. In this business has promotes its services in the marketplace as while measuring
marketing position so that accurate changes in business is induced by which key performance
also get indicate and tracked.
“Kindle sanitizer” has targeted the larger market and provide the hand sanitizer in
different flavours as well. In this they have uses effective planning and designed the promotional
activities so that effective content is transmitted to the customers. The company has offered
healthy sanitised product with affordable price and covers wider place. In addition they have
make effective packaging that is basically be more attractive, attain higher positioning in market
and measure sustain changes with support of experienced people.
The operational plan: It is a plan that is actually be more in detailed and provide clarity
among each of an individual so that all the working is processed with more perfection. It is used
to spread more transparency within the functions in which sufficient contribution is induced by
which achievement of standardised goals emphasis the working (Mitra, 2019). It is actually a
process that is used to plan the strategic goals and objectives and it is processed by measuring the
working standards in support of technicalities. “Kindle sanitizer” developed different strategies
by which all the tasks has been completed in sustained way. The development and production of
sanitizer is only get processed when all the individual have plays its responsibility as while
pertaining all the task and activities.
“Kindle sanitizer” has segmented the working within different slots and frameworks as in
order to complete certain task with perfection. To produce any kind of production or to manage
the working operations it is required that certain balanced is maintained within the availability of
resources. The company then developed its goal as per the priority and then select other
communication channel as per the suitability of condition. In addition to this it is essential that
suitable communication is processed within the business by which it is easy for employee to
understand the working standards and then also performs its functions with more effectiveness.
The technical solution and information technology plan: It is a plan that is used by the
business as in order to induce perfect technicalities so that productive changes is attained.
“Kindle sanitizer” develops the sanitizer that is having the Ethyl alcohol and other substitute
products that is required to kill the germs and protect the hand from any other virus (Morozova,
2019). This sanitizer is being used to provide better hygiene so that effective partnership is
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maintained in between individual and sanitizer. There sanitizers also includes the enrichment of
Tulsi, chandan neem and refreshing lemon as these all are the herbal constituents and used to
offer medical speciality. In addition to this they have also make replicate products which is made
antiseptic hand sanitizer that include alcohol ingredient in it so that the hand feel more free from
germs and it is a better supportive or alternative of continuous hand washing. “Kindle sanitizer”
has induced 75.8 alcohol so that all the germs has killed instantaneously and it didn't requires any
water as well. It is also being used more often on random basis and might have used before and
after eating, while using transport, meeting, hospital, touching on unwell place, while coughing
and sneezing, after playing on with pets, travelling or playing sports. “Kindle sanitizer” must
have provide guidelines for precaution as in this the individual who has uses this must have away
from fire, children and flame.
The human resources and organisation plan: The human workforce is an essential
aspect for all the business as they are the only one who has performed different functions so that
all the skills and abilities has managed with better sufficiency. “Kindle sanitizer” has tries to
motivate and influence the workers as by providing then adequate wage, salary, incentives and
many other benefits as well so that they have remain motivated for longer period of time. In this
the CEO and higher authority of “Kindle sanitizer” has hired the skilled and experienced
employees so that they have completed its working with certain fluency. As much the better
employee company has that much profit the company attain as its working standard and
probability of completion of work is completed with certainty (Apostolopoulos, 2018). The team
members and all the other individual as well those are performed its work within the business
must have required that they have balanced level of knowledge and information about the
working of equipments and machinery by which work is completed in sustained mode. The CEO
and management of “Kindle sanitizer” has worked in to develop specialisation by which long
term market reach is developed. For this “Kindle sanitizer” has provide more offers and rewards
to an individual so that its working performance is getting enhanced along with this range of
potential worker is enlarged.
Possible future development or changes in direction
“Kindle sanitizer” has developed the plan by which more success is attained with timely
basis and in addition to this company has worked more on to conceive sustained growth and
development in systematic manner. To develop the future possibilities it is essential that arable
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alternation is induced by which productive gaining is resulted in and it is also being used to
accomplish long term benefits and goals. “Kindle sanitizer” has designed different implication as
per the suitability of market and customers and in this better prevention is measured so as to
fulfil the requirement of marketplace (Galvão, 2018). The company has been induced more
changes in the business function and added up more organic components along with the organic
fragrance and odour. In addition to this they have also added up the flavour within the mixture of
alcohol and water by which health prevention is also taken care up. In this they have attain more
profit and sales with tranquillity and in this better sustainability is maintained that produces other
benefits as well. It is as like more values, larger market share, potential heights and high market
productivity. The “Kindle sanitizer” also worked to create new and suitable design of by which
rate of attractiveness is developed so that more of customers and its attention is gathered.
Summary to provide finance to lean start-up
The lean start-up of “Kindle sanitizer” is the most suitable approach that is used by the
business as in this they have moderately gain more success and development within the
competitive marketplace. As there is an urgent requirement of sanitizer within the competitive
marketplace and in this the only sustained way that helps the business to gain more success and
development is that they have produce most hygienic product at affordable prices by which its
desire to attain higher revenue is maintained. To get the financial helps and for the collection of
funding it is necessary that “Kindle sanitizer” has worked over to grab attention of marketplace
and investors (Horst, 2019). In this they have actively take participate in the process of economic
development as on this rate of economy is developed. The company also provide more
employment to the workers of each group and it is dependent on the work scaling and capability
by which better image in the market is also spread. In this “Kindle sanitizer” has worked over to
develop financial resources for that they have collect funds from personal collection or with the
collection of investors. It assist the business to measure more growth within which more success
also get faced by the business so that better return on the investment is faced and it is gathered in
timely constrained.
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CONCLUSION
It has been concluded from the above report that entrepreneurship development is a
procedure under which an entrepreneur has make more advancement within its personality by
which it is easy for them to attain all its goals and objectives. In this it is required that different
theoretical implication is induced by the business so that appropriate modification within the
value proposition is maintained. In this internal as well as external basis is managed by which
financial planning is managed so that productive outcome is achieved.
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REFERENCES
Books and Journals
Achakpa, P. and Radović-Marković, M., 2018. Employment Women Through Entrepreneurship
Development and Education in Developing Countries. Journal of Women's
Entrepreneurship and Education, (1/2), pp.17-30.
Adhikari, R.P. And et. al., 2018. Applying a community entrepreneurship development
framework to rural regional development. Small Enterprise Research. 25(3). pp.257-
275.
Apostolopoulos, N. and et. al., 2018. Entrepreneurship and the sustainable development goals.
Emerald Publishing Limited.
Aquino, R.S., Lück, M. and Schänzel, H.A., 2018. A conceptual framework of tourism social
entrepreneurship for sustainable community development. Journal of Hospitality and
Tourism Management. 37. pp.23-32.
Atiase, V.Y. And et. al., 2018. Developing entrepreneurship in Africa: investigating critical
resource challenges. Journal of Small Business and Enterprise Development.
Chernopyatov, A. and et. al., 2018. Entrepreneurship development and business activity in the
Russian Federation. Journal of Entrepreneurship Education. 21(4). pp.1-12.
Coulibaly, S.K. And et. al., 2018. Economic globalization, entrepreneurship, and development.
Technological Forecasting and Social Change. 127. pp.271-280.
Dhahri, S. and Omri, A., 2018. Entrepreneurship contribution to the three pillars of sustainable
development: What does the evidence really say?. World Development. 106. pp.64-77.
Galvão, A., Ferreira, J.J. and Marques, C., 2018. Entrepreneurship education and training as
facilitators of regional development. Journal of Small Business and Enterprise
Development.
Gontareva, I. And et. al., 2018. Features of the entrepreneurship development in digital economy.
TEM Journal. 7(4).p.813.
Haghighi, N.F. And et. al., 2018. Barriers to entrepreneurship development in Iran’s higher
education: A qualitative case study. Interchange. 49(3). pp.353-375.
Horst, S.O. and Murschetz, P.C., 2019. Strategic media entrepreneurship: Theory development
and problematization. Journal of Media Management and Entrepreneurship (JMME).
1(1). pp.1-26.
Khan, S.J.M. and Anuar, A.R., 2018. Access to finance: Exploring barriers to entrepreneurship
development in SMEs. In Global Entrepreneurship and New Venture Creation in the
Sharing Economy (pp. 92-111). IGI Global.
Leonidou, E. and et. al., 2018. An integrative framework of stakeholder engagement for
innovation management and entrepreneurship development. Journal of Business
Research.
Mitra, J., 2019. Entrepreneurship, innovation and regional development: an introduction.
Routledge.
Morozova, I.A. And et. al., 2019. Sustainable development of global entrepreneurship:
infrastructure and perspectives. International Entrepreneurship and Management
Journal. 15(2). pp.589-597.
Sarango-Lalangui, P. and et. al., 2018. The development of sustainable entrepreneurship research
field. Sustainability. 10(6). p.2005.
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ONLINE
What is the value proposition canvas, 2020. [Online] Available through:
<https://www.b2binternational.com/research/methods/faq/what-is-the-value-
proposition-canvas/>.
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APPENDIX 1
Primary and secondary market research: It defines the key elements that has been
required when “Kindle sanitizer” conduct market research and they have analysed following
components that is explained in table below:
Elements Details
Market size Market size of “Kindle sanitizer” is much wider as they have target larger
audience.
Market growth The market growth of “Kindle sanitizer” is dependent on the higher level of
satisfaction that is developed by producing a sanitizer that kills 99.9% of
germs.
Customer
preferences
Preference of customers is based on the innovatory actions that is taken by the
business and in this more improvised level of changes are addressed in order to
attract more customers.
Customer
segments
“Kindle sanitizer” segment the larger customer base as sanitizer is the basic
requirement of all the individuals.
Segment size The segmented size of “Kindle sanitizer” is wider.
Competitors “Kindle sanitizer” has many competitors as like Cleace, Tecna etc.
Key partners There are different key partners of “Kindle sanitizer” as like customers,
employees, suppliers, investors and many others as well.
Channels “Kindle sanitizer” uses digital platform and their own portals as from that
more profit is developed.
APPENDIX 2
Cost structure: “Kindle sanitizer” has defines its cost structure and it is followed in
staring years and define below as:
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Revenue streams:
Break even analysis:
Formula = Fixed cost / contribution per unit
= Total fixed cost for first year is 17000
Contribution per unit = Sales – variable cost / total selling units
= 60000 – 3000 / 2000
= 28.5
BEP = 17000 / 28.5
= 596.49 bottle
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Cash flow analysis: The cash flow analysis for first year is as follows:
Sources of funds: “Kindle sanitizer” uses different source of funds as in order to attain
more profit while managing continuous success. The following are different source of funds that
is as explained below as:
 Bank loan: “Kindle sanitizer” has take loan from bank so that they get adequate funds
and have furthermore uses that to make better execution within the business.
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 Using personal capital: “Kindle sanitizer” has some funds of its own as well that is
collected by them over specified period of time and with this they get suitable return on
its investments.
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