Lean Start-up Method for Guided Virtual Tour Business: A Detailed Development Plan

ENTREPRENEURSHIP
DEVELOPMENT

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
Business Objectives ....................................................................................................................3
Value Creation ............................................................................................................................4
Customer Value preposition Canvas............................................................................................4
Lean Business model canvas.......................................................................................................6
Detailed development Plan..........................................................................................................7
Critical evaluation of Plan ........................................................................................................10
SUMMARY...................................................................................................................................11
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12
APPENDIX....................................................................................................................................13

INTRODUCTION
Lean Start up refers to the method that is used to introduce new product or
services in the market. The product or service is developed on the basis of customers
desires in the market. Isolation of people due to the impact of Covid-19 increased desire
of people to travel and explore the world. Guided virtual tour will help people to
experience new travel experiences from home innovatively. Lean start up methods
majorly focus on the interest of customers and information are analysed such as
customer churn, lifetime customer value and service popularity (Silva and et.al., 2020).
The business is generated to provide virtual tour services to the customer that will
create a new experience of exploring new places. The business will service with the use
of the latest technology,high range mechanization fundamentally for gaining customers
satisfaction.
Idea of Guided virtual tour is a profitable lean opportunity as the gap in the
market has increased that include difficulty for disabled people to visit tours due to poor
infrastructure and people are less likely to prefer travelling after impact of Covid-19. The
role of CEO is to provide effective plaining for the implementation o the business plan
keeping in view budget and customers interest. This report will discuss the business
objective of the organisation that will include profit, profit margin and sales revenue. It
will also discuss the value creation for the customers along with preparation of lean
business model canvas. The business development plan of the organization will also be
prepared that include marketing plan, Operational plan, Technology/Information plan,
Chief Human Resources Officer and Finance plan.
Business Objectives
Business objective of the organisation is to provide facility of tour from the home with
the use of effective artificial intelligence technology that will provide a good experience
of exploring the world (Felin and et.al., 2019).
 Profit: The objective of the organization is to gain profit from the online platform
that will provide service at effective cost. The object of profit will be achieved with
the goal of increasing the profit by effective use of resources. The three year
forecasted profit of the organization is mentioned in the table 1 of appendix.

 Profit Margin: the objective of profit margin can be achieved by reducing the
cost of the service. The profit margin is the calculation of wages of companies in
relation to its sales in terms of accounting and finance. The three year calculated
profit margin of the organization is mentioned in the appendix.
 Sales revenue: Sales revenue of the guided virtual tour can be achieved with
the objective of increase in the sale of service with the effective marketing
strategy. The company has a major goal to increase sales. It will lead to the
increase in the sales revenue of the company. Company will keep he 20%
revenue from the sales in the market. The net sales or revenue of Guided Virtual
Tour has been forecasted and calculated for 3 years to forecast the sales, the
calculations are mentioned under table 2 of the appendix.
Value Creation
It refers to the preparation of service that is useful to customers and sold in
market in order to increase. Providing valuable services to the customers in exchange
for more valuable. This concept can be used by the chief human resource management
of Guided Virtual tour (George and et.al., 2021). The value creation of company will be on
basis of new experience in terms of tour and exploring the world.
Customer Value preposition Canvas
It refers to a tool that helps the organization to analyse the needs and desire of
the customer related to the product or service provided by the company. It is prepared
oh the two building blocks that include customers profile and organisation's value
preposition. Customer profile of Guided virtual Tour include:
 Gain Creator: It includes a new way of experience and exploring the new places.
The company will generate income when the tourism industry are very low.
 Pain Relievers: The guided virtual tour will help the people to travel in the times
of crises where all the travelling services are restricted and destination that are
seems impossible are just one click away (Nariswari and Nugraha, 2020).
 Product and Services: It includes the goods and the services provided by
Guided Virtual Tour. It facilitates customers by providing virtual experience of
travelling from home as per the recent situation of covid -19 pandemic.