Entrepreneurship Development: Lean Start-Up Business Plan for Say Cheese

Entrepreneurship
Development

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Entrepreneurship refers to a process in which a new venture is started by an entrepreneur
by taking a lot of risk and therefore this can be used for the purpose of earning of higher level of
profits in the future time period (Amorós and et.al., 2019). As a process Entrepreneurship
involves use of creativity and innovation so that the entrepreneurs are able to develop new
products and services according to the needs and requirements of various types of customers in
the market. Entrepreneurship Development refers to a process through which the skills and
knowledge of the entrepreneurs can be enhanced effectively. This report focuses on
entrepreneurship development of Say Cheese. It is a Start-Up which will provide pastries and
other food products for children in St.Mary's Hospital, London. In this report, detailed analysis
on the lean start-up business plan will be made. Different components which are covered in it are
required to be included.
MAIN BODY
Introduction to Lean Start-Up- Lean Start-Up is a methodology for the purpose of
development of products in which there is an aim of shortening the product development cycle
and rapidly identify whether a business idea is viable or not (Anderson, Eshima and Hornsby,
2019). This can be achieved through various processes.
Say Cheese is a Lean Start-Up in which the entrepreneur wants to identify the viability of
the business idea which is proposed to be launched. It will operate in St.Mary's Hospital,
London. The primary aim of launching this Lean Start-Up is to make sure that the parents of
Children in the hospital are able to provide them with nutritious and healthy food products for
their consumption. It will provide food products according to the varied tastes and preferences of
the customers.
It is a business opportunity which is quite unique in nature because it has not been availed
earlier by any entrepreneur. If used properly it will be able to ensure that profits are earned by
the entrepreneur in the future time period and will also make sure that the business is able to
witness sustainable level of success in the future time period. The business idea is quite good
because there is no presence of such a shop in the premises of the hospital which can provide
such products and services to the customers. Therefore by making use of it the entrepreneurs will
be able to achieve success in the future time period without problems and issues.
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Business objectives-
Every business is required to set up its own business objectives which are to be achieved
in the future time period (Burnette and et.al., 2019). The business objectives of Say Cheese will
be as follows-
 Profit Objectives- In the first year the objectives of Say Cheese will be to earn
sustainable level of profits so that it is able to survive in the market with the presence of
its competitors. In the second year the objective will be to grow the level of profits by
expanding the level of activities. In the third year the objective will be to grow profit by
diversification of products and services.
 Sales Revenue Objectives- Say Cheese will focus on its Sales Revenue as it will be its
main source of income. In the first year the focus will be on generating sufficient sales
revenue to earn profits. In the second year the focus will shift towards enhancement of
revenues to increase the profits. In the third year there will be focus on the increase of
revenues through application of aggressive pricing strategies.
 Profit Margin Objectives- Say Cheese will need to focus on Profit Margin as it will be
quite important to ensure that the right profits are earned. In the first year there will be
focus on maintaining the appropriate profit margin to sustain competition. From the
second year onwards focus will be on enhancement of profit margin so that higher growth
can be achieved. In the third year the firm will be focusing on application of techniques
for the purpose of having a higher profit margin than its competitors in the market.
Customer Value Proposition Canvas-
It means the value which will be created for the customers for the price which they are
paying for purchasing a particular product or for availing a service in the market (Centobelli,
Cerchione and Esposito, 2019). There is a need for the firms to be able to provide them the right
goods and services so that they feel that proper value has been provided to them.
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