Entrepreneurship: Start-up Organization in E-Business Platform

This report discusses a new start-up organization in the e-business platform, including market analysis, product description, competition analysis, operations plan, and sales and marketing strategy.

Entrepreneurship

EXECUTIVE SUMMARY
The below report discusses about a new start-up organization in relation with an e-
business platform. There are various factors which are associated with online business and create
an impact on them like political factors, economic factors and so on. At the same point of time
while starting a new business different elements are been required like bank loan, usage of latest
technology, strong website and so on. The report discusses about different sources of finance,
start-up costs which are been involved and whole competitive analysis in comparison with other
businesses.

Table of Contents
EXECUTIVE SUMMARY.........................................................................................................................2
INTRODUCTION.......................................................................................................................................4
MAIN BODY..............................................................................................................................................5
Business details.......................................................................................................................................5
Location...................................................................................................................................................5
Market analysis........................................................................................................................................5
Product description..................................................................................................................................7
Competition analysis...............................................................................................................................7
Operations plan........................................................................................................................................8
Risk and contingency plan.......................................................................................................................8
Sales and marketing strategy...................................................................................................................9
Finance and funding plans.......................................................................................................................9
Management team.................................................................................................................................10
CONCLUSION.........................................................................................................................................10
REFERENCES..........................................................................................................................................11

INTRODUCTION
Entrepreneurship is defined as the ability in order to develop, establish and run a business
organization and dealing with different uncertainties in relation to earn profit. It is mainly
considered with starting a new business. It is considered as a change dealing with different kinds
of changes beyond what was exactly decided while starting a new business. It is considered as
the procedure of implementing new methods of organizing a business. In relation with an
entrepreneur they are defined as a person who has the talent and capability to implement and
achieve success in a new start-up venture along with different risks. They enable new ideas in the
marketplace by replacing the old one. In terms of starting a new business a proper business plan
need to be established. In relation with business plan it is defined as a written document that
involves all the objectives of business, ways to achieve those goals and the time frame. It also
determines the nature of the business, background information, and financial positions as well as
different strategies to achieve all targets (Jones and et.al, 2021). The report is based on a new
start-up venture “Sure to Shop”. It is a retail e-business platform which is a fashion jewelry
market. Due to the pandemic situation a new niche venture got established through which all
audiences can order jewelry online only. The business plan includes details of business, location,

market analysis, product description, competitor analysis, operations plan, risk and contingency
plan, sales and marketing strategy, funding plans and the whole management team.
MAIN BODY
Business details
As per the current pandemic situation a new start-up organization has been established. It
is a retail e-business platform that provides fashion jewelry for all the women out there. The
reason behind establishing a new business was that audiences can’t go out for doing shopping
and jewelry is the most important thing for a woman. So, with respect to this start-up
organization got implemented in which people can easily do online shopping. It is a sole-
proprietorship business as it is owned by a single entrepreneur only. As an entrepreneur it was
important to initiate a new start-up organization. “Sure to Shop” provides online shopping in
relation with jewelry. Earlier, the entrepreneur used to work in a local bank but due to current
pandemic situation a new start-up organization got implemented. The new start-up got
established by building up the connection with all the customers and on the basis of it the failure
which was been faced by failure from local bank (Cabral, Francis and Kumar, 2021). It is a
fashion jewelry market that provides different types of accessories to all the people. The new
start-up was chosen as jewelry market because for all the women it is the most important thing
and it would be easy for them to do online shopping. While establishing the business “Sure to
Shop” various things were been faced like it was not at all easy to implement a jewelry market
place because all the women have different level of priorities so it was difficult to manage that
but as an entrepreneur different techniques were used because online shopping is the best trend
in today’s world.
Location
For “Sure to Shop” organization the location is set up in relation with choosing that
website which would be very much convenient for each customer. As fashion jewelry market the
company would be providing their services at every location right from small streets to large
market place also. With respect to this an offline store will also be there where it would be
convenient for each customer to visit or even contact with them (Pathak and Muralidharan,
2021). In relation with this it was also been decided that as a start-up organization it is very
crucial that proper location should be set up. As an e-business platform the websites should be
implemented in such a way that it becomes easy for customers to purchase and search for the
products.
Market analysis
There are various elements involved in a start-up organization while analyzing whole
market place like in the form of pestle analysis, statistics, porter’s 5 forces model. In context
with “Sure to Shop” it is been explained as below: -

Pestle Analysis: -
 Political factors: - While starting a new e-business platform there are various political
issues that comes up in between. As there are many competitors who are dealing in e-
commerce businesses so it creates a difficult situation for “Sure to Shop”. The growth of
e-commerce gets challenges by various political factors (Lechner and Pervaiz, 2021). So,
company should assure that they are maintaining the level of economic stability so that
no disruption gets occur in relation with both online as well as physical problems.
 Economic factors: - It creates an impact on the online business because these factors are
directly related to business as well as their revenue. It affects how business would operate
and make all the decisions. As a start-up organization proper marketing strategy should
be set up so that it builds up the level of entrepreneurship and at the same point of time
should be able to deal with the situation of economic fluctuations.
 Social factors: - Trends get changed very frequently and as a new start-up organization
the priority of all the customers should be properly evaluated. On the basis of that as
there are also different cultures so all types of jewelry should be available on the website.
 Technological factors: - While looking at today’s world each individual prefers to do
online shopping as it is considered a very easy source. So, by starting a new e-business
platform good technology should be used so that “Sure to Shop” can achieve growth at
fast rate. It influences businesses because on the basis of this the popularity gets
increased.
 Environmental factors: - In e-business platforms there are various areas which need to
be taken care of while establishing a new start-up organization. “Sure to Shop” they
should invest in the level of sustainability as it would enhance the level of productivity
(Starchenko and et.al, 2021). At the same point of time while providing fashion jewelry
through e-commerce renewable energy should be used.
 Legal factors: - The organization should follow all the applicable laws and level of
compliance because it creates an impact in the form of financial losses also.
Porter’s five forces model: -
 Bargaining power of suppliers: - It is in relation with how much power suppliers have
while negotiating the overall price of product. So, while starting a new start-up
organization they have high amount of bargaining power and the reason behind it is that
fashion jewelry product is at high trend.
 Bargaining power of customers: - In relation with “Sure to Shop” power of customers
was less.
 Threat of new entrants: - As a new start-up business organization profits were been
achieved as in today’s world e-business platform is at high trend. Though there was threat
because other organizations are also implementing their online businesses so with respect
to this high capital requirement was been needed ( BAMBANG and et.al, 2021).

 Threat of substitute products: - Before implementing a new organization they have
determined all the substitute products in jewelry businesses and offered different
products.
 Competitive rivalry: -The competition is at high rate in the market place because there
are already many e-business platforms which have achieved high level of growth.
Statistics:-
In terms of “Sure to Shop” Start-up Company the start-up cost was around $100k. The
main target market was women who always have the desire to wear new and unique jewelry. So,
they established their website in an effective way where all products used to get changed on
constant basis.
Product description
 Description of product: - There are many businesses which e-business platform provides
to all their customers. It provides different types of jewelry like rings, bracelets,
brooches, hair pins, anklets and many more. There are certain services also which are
provided by Start-up Company like discount packages, free carry bags and many more
(Choudhary, Kumar and Kumar, 2021).All the details are provided on the website
through different ways.
 Product comparison: - In relation with other e-business platforms, the most effective
thing is that unique jewelry was been provided and the focus was only on specific
product and customers. In every culture different jewelries were been wore and on the
website also all products were been available.
 Intellectual property: - It is very crucial to have all insurance policies before establishing
any business organization. So, while starting an online business it is necessary to follow
all the policies.
 Equipment’s: - There are different equipment’s which are needed like chalk beads,
crystals, pins and many more.
Competition analysis
Criteria Sure to Shop (New start-up
business)
Supermarkets
Type of establishment E-business platform( Online
business)
Self-service shop
Location Website Fixed location
Products Rings, anklets, necklaces and
other jewelry products (López-
Meri, Alonso-Muñoz and
Casero-Ripollés, 2021).
Jewelry, cosmetic products,
perfumes for both men and
women
Price Based on quality of all the Based on image

jewelry
Target persons Women Men and Women
Efficiency Home delivery Self-service
Operations plan
There are different elements involved in operational details of e-business platform in
relation with “Sure to Shop” which is been explained as below: -
 Latest technology
 Digital networks
 Salaries
 A business platform
 Loan payments
 Transport payments
In relation with all the raw materials they are of various types like type of online business,
finding an effective business platform, digital marketing and so on. As a Start-up business
various channels of distribution was been used and the main one is business to consumer
(Cuesta-Valiño and et.al, 2021).. There are different resources which are required and these are a
strong website, social media tools and many more. To grow an e-business platform the website
should be strong enough so that people get to know about new businesses.
Risk and contingency plan
A contingency based plan is the implemented when risk is occur itself. The motive of
plan is to the lessen harm of risk when it happens. Without plan in the place, entire impact of
risk could really concern project. The contingency based plan is end line of protection against
risk. This is clear roadmap formed by the management to support an company react to business
that may and may not occur in further time. A plan of contingency can also support business
pull through from the disasters, handle risk, keep away from negative publicity, or manage staff
injuries. There are other elements are engage in terms to sure to shop; The probability which an
issue will happen is a element that assist in prioritizing contingency preparation procedure.
Probability assessment begin by organizing business and issues into single of three and other.
probability level such as a high and nearly definite, reasonable as well possible or less and
improbable. For an example, probability that is at the some point their business will look a
power based outage is maximum while probability company will face the public relationship
disaster may be minimum (Kurpayanidi, 2021). After establish probability priority, add
company procedures that will be affected by each business task and issue. The impact an
business and risk can have on corporation operations is the major elements influence
contingency based planning. The Federal Emergency organization Authority recommend
completing a corporation impact analysis to the predict or charge the penalty of disruption to
definite company functions. penalty can be the tangible and intangible as well consider lost and

delayed in sales, enlarged expenses, consumer dissatisfaction and defection as well delays in
achieve corporation goals or objectives (von Briel and et.al, 2021). The outcomes of a thorough
affect analysis are then the compare alongside the corporation obtainable physical, financial or
human resources to attain information huge to building effectual contingency based plans. Risk
mitigation based efforts are power contingency setting up by falling the possibility that an
business or risk will happen as well by dropping unenthusiastic impacts if the business or risk
does take place.
Sales and marketing strategy
Sure to shop adopt some digital platforms to provide their products and services to the
customers and through social media and other some platforms they can reach maximum number
of people from different location (Solomon and et.al, 2021). There are some sales and marketing
strategies which company must adopt for their business so that they can achieve success rate at
higher level.
 Invest in Web Design, good and attracting websites and application of company is must
to reach and attract the people for providing products and make effective relationship
with them.
 Use Search Engine Marketing and Optimization, through this company can perform
various promotional activities through digital platforms in successful manner. This will
help to company in reach the people.
 Affiliate and Associate Programs, association with other programs and sessions is most to
expand their brand values in marketplace through participation different programs and
sessions.
 Hire a Coach or Consultant, this will helps to company and a perfect coach will provide
better guidance to business about the procedures and business tasks.
 Use Email Marketing, this is popular now days, email marketing assist to business
spread awareness about their brand through emails so that people make some interest in
this brand.
 Build an Opt-In Email List, making records is must to manage sales and profit.
 Get Into Articles or News Stories, try to do something which is unique so that media also
cover this brand and people will know about this business.
 Make an effective content, content is most important part to make an attractive business
profile to reach and meet the customer satisfaction.
Finance and funding plans
Sure to shop can borrow money from some banks and take support from some
government institutes. Because in current scenario government also promote each business for
better growing (Drori, Honi and Wright, 2021). Sure to shop is based on digital business and they
take orders through digital platforms and social media platforms. Company require less capital

and investment to invest in this business because at digital platforms company can start their
business with minimum amount or zero amount (Baumol, 2021). At the same time digital
technology have high reaching rate. Apart from this company only need to spend some effective
tools and techniques which are must for online or digital based business. Through some tools
they can operate business in well manner and track their position in marketplace.
Management team
In Sure to shop business there are less management team is require because at the begin
point there is no requirement of different departments and other team for this maximum five
staff members are enough to manage all activities of this business. At the starting point there are
less profit and no income sources that is why there is no meaning to hiring the entire
management team to operating this business (Soares and et.al, 2021). If business grow
successfully on regular basis then they can expand their business. Sure to shop operate business
through the online platforms so there is less requirement of huge staff members, through digital
platforms the performing business activities will be easy for owner and they can track each and
every activities through some tools which are needed in tracking results.
CONCLUSION
From the above report it has been concluded that for a new start-up organization it is very
significant to initiate a proper business plan and on the basis of this proper evaluation should be
done. There are different sources of finance which are required while implementing an e-
business platform like bank loan, latest technology and many more. It is also important to set up
a strong website so that people get to know about the company, what types of products they are
dealing in and so on. There are many risks also which are associated with e-business platform
because there are already many competitors who are there in the market place and in comparison
with this it is crucial to do effective promotions of website, products all over the social media.

REFERENCES
Books and Journals
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corporate entrepreneurship: Evidence from corporate venture capital programs. Strategic
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Choudhary, D., Kumar, A. and Kumar, E., 2021. Role of Entrepreneurship in Indian Higher
Education: A Review. Choudhary, AK, Kumar, pp.68-71.
Cuesta-Valiño, P., and et.al, 2021. Measuring a multidimensional green brand equity: a tool for
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von Briel, F., and et.al, 2021. Researching Digital Entrepreneurship: Current Issues and
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