Unit 28: Launching A New Venture

Unit 28: Launching A New Venture

Table of Contents
Introduction...........................................................................................................................................1
LO1 The range of resources required to launch a new venture..............................................................2
P1 Identifying specific target market and undertaking competitive analysis for the launching a new
venture...............................................................................................................................................2
P2 Specific Tangible and Intangible resources that required for launching a New Venture..............4
P3 Producing a credible proposal to launch a new venture................................................................6
LO2 skills and capabilities required for the launching a new venture and how these skills and
capabilities might be acquired or developed..........................................................................................7
P4 Skills and capabilities required for launching a new venture and how these skills might be
acquired or developed........................................................................................................................7
LO3 Explanation of Appropriate Promotional activities which can be justified for launching a new
venture...................................................................................................................................................9
P5 Explain Different Promotional activities and channels that’s supports launching a new venture. 9
P6 Developing appropriate Promotional Activities for both Launch and Pre-launch of the new
Venture............................................................................................................................................12
LO4 Suggestion for an appropriate legal form with a compiled budget for a new venture..................13
P7 Monthly Cash budget for pre-launch and 12-18 months preceding of new venture launch........13
P8 Suggestion for the legal form for launching a new venture and describing why the legal form
chosen..............................................................................................................................................15
Conclusion...........................................................................................................................................17
References...........................................................................................................................................18
Table of Figures
(Figure 1: Porter's Five Forces Model)___________________________________________________3
(Figure 2: Skills & Capabilities required for Launching a New Venture)________________________7
(Figure 3: Promotional Strategies of New Venture)_________________________________________9
(Figure 4: Promotional Strategies for New Venture of E-toilet)______________________________10

Introduction
In this assignment, there is a discussion about Launching a New Venture. Launching a new
venture is related to the business where a Business organisation creating some sort of
business venture to produce more profit and developing a new business strategy. In this
assignment, there is an opportunity to expose some ideas and knowledge about the particular
Business Venture (Chen et al, 2020). The idea about launching a new venture is “E-Toilet
and Vending Machine”. There is a crucial fact why I’m not going to take some sort of
regular business organisation instead of E-toilet and Vending Machine. Our World is going to
destruct by human waste which also a major issue of different types of disease. If the people
from particular area uses these E-toilet and Vending machine it could be helpful for clean
sanitation at the same time women get the opportunity at lower cost sanitary pad from E-
toilet Carrier. The main motto of this E-toilet and Vending machine is developing by the
clean and sanitation to everywhere basically we might face now COVID-19 pandemic all
over the world. People should use this kind of service for the betterment of their health issue
at a minimum cost.
(Source: E-toilet, 2020)

LO1 The range of resources required to launch a new venture
P1 Identifying specific target market and undertaking competitive analysis for the
launching a new venture
A Business Organisation integrates with the Specific business plan required to gain financial
benefit is called Venture. A venture is not established without a specific business plan. The
business should take possible steps for stepping forward with the specific goals and
objectives. This assignment is looking for the “E-Toilet and Vending Machine”. In general,
“E-Toilet and Vending Machines is developed by the specific goals and objectives for the
clean and sanitation for London (Davidsson, Recker and von Briel, 2020). We might have to
face some sort of dangerous disease by global warming and due to the unhygienic facts. In
recent time, the whole world is struggling with the COVID-19 pandemics in that time we
might face something about the hygienic issue which are also neglected in recent past years.
People are now more serious about the hygienic issue and not taking some service which is
not properly sanitised. Moreover, we can say that the whole world is going to take hygienic
products or service from the nearest possible area. Launching E-toilet and vending machine is
developed by identifying the target market those people are the customer of the particular
products.
Target Market is depending on the different aspects by which A venture can identify its prime
customers as well as collecting the potential customer information. Biographical,
Geographical, psychological, Economical and so on. Without identifying the target market, a
new venture cannot set its business plan at the same time they cannot satisfy their customers
with the actual products or service. After successfully targeting the customers there is a
greater chance of having such problems like substitute products, existing competitors,
bargaining power of those customers (de Mol et al, 2020). From the target market, a new
venture should focus on the customer needs and demands that’s why venture can look for the
customer and made such orientation which is nearly matched with the competitors’ products
offering. A different strategy of product offering snatching customer minds to the new
venture and still favoured for the next purchases. To gain a competitive advantage from the
customer zone, E-toilet venture should approach in a way that, this kind of strategy never

meet any organisation previously. Then there might have a chance to get a competitive
advantage from the target market.
Always there is some challenge like competitors and industry analysis. Before dive into the
Venture organisation, there should focus on that industry and competitor analysis. Porter’s
five forces model is mostly used for the competitors and industry analysis.
The threat of Entry: To best evaluate the competitor’s market firstly identify the threat that
might arise from the beginning part of the entry into the market (Domurath et al, 2020). To
better understanding the market, it's an easy way to best fit with most probable threats.
Bargaining power of Buyers: A newly Launched Venture should consider the bargaining
power in a new market (Gornall and Strebulaev, 2020). Bargaining power is developed by the
country’s economic condition. If the buyer does not have the minimum bargaining power
then it's deniable to sustain into the market.
The threat of Substitute: It's rarely impossible to have substitute products in a market. A
business venture should develop unique product offerings to its customers. To prevent the
threat of substitute E-toilet business should provide unique materials to its customers (Linder,
Lechner and Pelzel, 2020).
(Figure 1: Porter's Five Forces Model)

Bargaining power of Suppliers: Suppliers is a core substance in the competency and better
possible suppliers’ power. To best fit with the suppliers bargaining power, there are suppliers
needs to adapt with their most favourable suppliers for better recognising the current impact
on the production as well as sustain into the market (Park and LiPuma, 2020).
P2 Specific Tangible and Intangible resources that required for launching a New
Venture
Tangible and intangible resources are playing a vital role in a venture. To better understand,
A business needs to first know about tangible and intangible resources. Firstly, tangible
resources are something about has a physical existence. For example, land, building, cash,
inventory and so on. The tangible resource is easy to liquidate for the cause of physical
existence. The intangible resource doesn’t have a physical existence. Intangible resources are
like a trademark, copyright, patent, goodwill and so on. Intangible resources are hard to
liquidate because of no physical existence (Yasa et al, 2020). In general, Tangible and
intangible resources are both strengths for the business organisation. A business needs to
consider the strengths as well as a weak point in the organisation as a whole.
Tangible Resources: Tangible resources is something that has a physical existence. The
earlier discussion about tangible resources has some sort of form like land, building, cash,
inventory and so on (Younger and Fisher, 2020). These resources briefly describe here;
 Land: The land is the first and foremost elements of intangible resources. Without
land, it could be impossible to set up the venture. The land is the most priority of
tangible resources for the business venture (Zheng, Ahsan and DeNoble, 2020).
Launching a new venture providing best effort for developing a better business profit
maximisation policy.
 Building: Building is the prior tangible resources which can be established on the
land. The building has an economic value which reflects on the business property.
The economic value is considering most prominent resources for launching a new
business. Building property value depends on the locality based on the business area
(Chen et al, 2020).
 Cash: cash is known as Liquid assets of the organisation. Cash can be diverted to buy
a product or purchasing a tangible asset (Davidsson, Recker and von Briel, 2020).
Cash is using for the liquid transaction which refers to the minimum level of efforts to
buy or sell through products and earn cash.

 Inventory: Inventory is the major resources which can be worked on the shortage
period. Inventory might have different aspects like it could be finished goods, or
something about raw material and so on (de Mol et al, 2020). Different types of
products and goods stored in a warehouse after at a shortage period organisation can
use these inventories for the continuous business operation.
Intangible Resources: Intangible resources are the resources which have not physical
existence but these resources are also available in generally on the organisations. Intangible
resources are discussing earlier in the assignments (Domurath et al, 2020). In that part, there
is some sort of discussion about the intangible resources which are indirectly related to the
venture;
 Trademark: Trademark is the unique resources of an organisation. In contrast, E-
toilet business needs to establish a unique spot in the target market (Gornall and
Strebulaev, 2020). A business organisation is getting popular by using this kind of
trademark for specific logos or design.
 Customer Information: Customer information is a better way to evaluate their
customer buying preference at the same time they can identify which customer
categories are still the best ranking for their goods or service (Linder, Lechner and
Pelzel, 2020). A newly Launched Venture should consider taking every customer
information through digital technology.
 Goodwill: Goodwill is the best possible intangible assets or resources in the service
venture (Park and LiPuma, 2020). When a customer taking the E-toilet and vending
machine service it’s a better way to visualise the organisation's obligation and
organisational prospects in the future days.
 Brand Recognition: Brand recognising is the most valuable part of intangible
resources. We might have the basic knowledge about how the brand creates a value
for the organisation and mostly these brand recognising will attract by the customer
which results in a better possible profit maximising through these intangible resources
(Yasa et al, 2020).
 Skills and Knowledge: Skills and knowledge of employees is the most renowned part
of intangible resources. If the employees are skilful and knowledgeable then it
requires best results within the team for successive development (de Mol et al, 2020).
Specific skills and related knowledge should consider the continuous development in
the organisation.

There are some Resources required in the organisation;
1. Human Resources: Human resources are the most significant resources working for
continuous business operation (Linder, Lechner and Pelzel, 2020). If the human is
knowledgeable and skilful then the human or the people getting into the human resources of
the particular business organisation.
2. Capital Resources: Capital resources are the resources have the economic value which is
related to the land, building, inventory, cash, machinery and so on. These capital resources
have high value in the market but these resources are managed by human resources
(Domurath et al, 2020).
P3 Producing a credible proposal to launch a new venture
A credible proposal is a mandatory form or business plan which might have a different aspect
where business can continue their activities by the action plan related to the credible
proposal. A business should follow the term and conditions to focus on their activities (Yasa
et al, 2020).
Name of the Organisation: E-Toilet & Sanitary Vending Machine
Mission: The E-toilet business has the responsibility to take their area clean and providing
the best possible support to their customers.
Vision: The vision of the E-toilet and Sanitary Vending Machine is the clean and safe service
all over the world and create an opportunity to keep fresh.
Location of the Venture: at the beginning part of the venture establishment the e-toilet and
sanitary vending machine will be developed initially in the nearby places of London (Yasa et
al, 2020). After successful completion of the business operation in London, the business goes
beyond the local territory.

Target Market: Target market of the e-toilet and sanitary vending machine is the local
person who is not getting the support of washroom in nearby place at the same time the help
of the women for the emergency sanitary pad from a nearby vending machine within a
minimum cost (Linder, Lechner and Pelzel, 2020).
Operating Plan of E-toilet and Sanitary Vending Machine: Basically, e-toilet service is
providing two types of service. Where the business first providing the clean sanitisation to the
customers (de Mol et al, 2020). In that terms, e-toilet is regulating their service to the present
customer within a limited period and the second part is Sanitary vending machine, women
when getting emergency in the nearby place they can purchase a single sanitary pad within a
lower cost. Then this service will be benefited through a minimum cost.
Financing plan of e-toilet & Sanitary Vending Machine: the financing plan will discuss
broadly how and where the profit will be generating and the business get flourished by the
operating the sanitary vending machine. They're also a financial plan for how people get
attached with the newly launched business by using their service within a minimum cost from
nearby e-toilet (Domurath et al, 2020). When the customer regularly uses the service
provided by the organisation. It’s an option by which then organisation get much profit and
expand their business beyond the locality.
LO2 skills and capabilities required for the launching a new venture
and how these skills and capabilities might be acquired or developed

P4 Skills and capabilities required for launching a new venture and how these skills
might be acquired or developed
Leadership Skills: Leadership skills is an art of the motivational factors. Without leadership
skills, it’s quite difficult to measure the success acquired by the organisation. For a better
understanding of organisational success, Leadership skills enhance the sub-ordinate to work
within the motivation level (Domurath et al, 2020). To control the sub-ordinate of E-toilet
and sanitary vending machine the leadership skills is the basement to task forward on the
selected path.
Problem Solving Skills: it’s a better thought that the more the problem will route the
organisation to gain more opportunity. The problem arises from the internal and external
sources for operation business (de Mol et al, 2020). A business organisation develops an
integrated policy to gain opportunity from the specific problems face by the organisation. For
better understanding, the current and potential problem should adopt the problem-solving
skills which reflect the opportunities for the progress of the overall business organisation.
Time Management Skills: There is a quote about time is “Time is Valuable”. Before
launching a new business venture the employees should consider the valuable time which
causes better visualisation for the organisational activities (Linder, Lechner and Pelzel, 2020).
(Figure 2: Skills & Capabilities required for Launching a New Venture)
Skills and
Capabilities
Leadership
Skills
Problem
Solving Skills
Time
Management
Skills
Communicatio
n Skills
Risk Taking
Behaviour
Networking
Skills

Employees always need to manage the time for the appropriate time frame. Without time
management, A newly launched venture cannot produce better profit for the overall
performance.
Communication Skills: Communication Skills are mostly recognised useful skills at top-
level management. Top-level management should always need to remember contact with the
internal and external of both parties. Communication enhances the overall connectivity
between internal to external regions (Yasa et al, 2020). Different parties are integrate
involved with the internal and external operations of the newly launched business.
Risk-Taking Behaviour: All employees of E-toilet business should have a mentality to take
the risk. Because, if an employee has the risk-taking attitudes then its completely benefitted
the overall business organisation. Risk creates a better opportunity for the business
organisation in future (Linder, Lechner and Pelzel, 2020). Sometimes, employees are not
interested to get into the risky part of the work because the result of the overall work result
remains uncertain. A good leader of an organisation always needs to recognise the future
prediction of organisational goals and objective.
Networking Skills: Networking means the business person should reconnect several parties
for prospective users. Without networking skills, there are quite difficult problems that might
face by the overall organisations. A business has a different channel to connect and distribute
the different proposal to its sub-ordinate (Gornall and Strebulaev, 2020). That’s why A
business should organise different networking methods which facilitate overall organisations
progress. All employees of E-toilet need to attach with a network that certainly facilitates the
company progress for a longer period.
LO3 Explanation of Appropriate Promotional activities which can be
justified for launching a new venture
P5 Explain Different Promotional activities and channels that’s supports launching a
new venture

Different promotional activities are working for the marketing policy of a newly launching
business. Different business venture approaches use various methods to expand their business
and reach to the current and potential markets (Gornall and Strebulaev, 2020). Without
promotional strategies, a business cannot set their marketing policy and that’s why the
business people should consider the different strategies which best fits with the new business
model.
Promotional activities have different aspects which might be Advertising, Word of Mouth,
Direct Marketing, Public Relations, Social Media Marketing, Affiliate Marketing, Online
Marketing and so on. The different approaches briefly discussed in here;
(Figure 3: Promotional Strategies of New Venture)

Advertising: Advertising is the major & reliable way to promote organisational products and
services to customers. Advertising works as a prime task for any organisation for basic
promotional strategies (Linder, Lechner and Pelzel, 2020). At the effective advertising
promotion, the venture should tell the customer that what they sell and why the customer
needs our products or services. Effective marketing promotional activities enhance the brand
image and develop a better understanding of the customers.
Word of Mouth: Word of mouth is another very effective promotional strategies in
marketing policy. A business or newly launched venture is sometimes promoting its close
customers and their word of mouth strategies effectively works. The person might have close
relatives in near of his or her home (Gornall and Strebulaev, 2020). The person who already
knows the new venture will inform her close relatives which ensures that the person will
surely purchase that companies’ products or services soon. This is how effectively word of
mouth promotional activities works for the newly launched venture.
Direct Marketing: Direct marketing is a promotional strategy where the company goes to
their current market and reach to their potential customer. This kind of promotional activities
involved the pull process because the new venture pulls all customers from the market and
giving valuable insights about the company products and services (Linder, Lechner and
Advertising
Word of
Mouth
Direct
Marketing
Online
Marketing
Public
Relation
Affiliate
Marketing
(Figure 4: Promotional Strategies for New Venture of E-toilet)

Pelzel, 2020). Direct marketing involves greater energy to the customer who is willingly want
the products from the company. The direct communication has involved and that’s why
sometimes it called face to face marketing.
Online Marketing: Online Marketing is a promotional strategy where the company reach to
their customer by using social media Advertising (Facebook, LinkedIn, Instagram), websites,
online campaign, paid advertisement, SEO, Email Marketing and so on. Today is getting
more flourish by the help of technological innovation (Domurath et al, 2020). There is a huge
participate everyday check their social media, emails and kinds of stuff for regular basis.
That’s why this online marketing creates an integrated marketing channel between the
company and with their current and potential customers.
Public Relation: Public relations always attract the customer in that case of E-toilet and
Sanitary vending machine. E-toilet and sanitary vending machine venture influence the users
to make regular use instead of making dust in the local area (Linder, Lechner and Pelzel,
2020). This type of promotional activities should connect the broad level mass people who
are normally can’t get those stuff from nearly promotional strategies. This public relation
engaged mass people to develop their venture public and this would benefit the company’s
overall strategies.
Affiliate Marketing: Affiliate Marketing is a promotional approach where another
promotional agency will promote the company’s goods and services and for that reason, they
got the minimum profit from the company. In contrast, The Advertising agency simply
advertises the E-toilet business and that’s why this agency got the remuneration for the
affiliating the company’s products and services (Domurath et al, 2020). Affiliate marketing is
a better way to expose organisations product and services to the huge and broader channel of
customers regularly. This promotional activity not only highlights the company’s products
but also encourages the customer to make on a purchase because the product listing is here on
the customer's end tools.
P6 Developing appropriate Promotional Activities for both Launch and Pre-launch of
the new Venture

The pre-launch promotional activities are working for them before the company launched its
products launching in the market. Before launching products and services in the market a new
venture should develop its pre-launch promotional activities as well. The pre-launch activities
might be adding the company’s name on Google my business (Linder, Lechner and Pelzel,
2020). Then hosting a domain for operating its websites for news and information in faster
communications. Before completely stand on the current market company should focus on
the free sample opportunity or discount offers. As E-toilet is developing for the service-based
organisations that’s why the companies must consider hosting an event or campaign for
reaching to the mass public.
Creating a Profile for Google My Business: Before launching the services, E-toilet
business must create a profile for its service that indicates local customer to easily find it and
use the services (Domurath et al, 2020). Google my business developing the navigation and
get into the google maps.
Hosting a Domain: For the regulating website, a new venture should host a domain for its
own and unique brand equity (Domurath et al, 2020). The hosting works for the website
development and this is a better way to reach the overall mass population and develop greater
involvement.
Pre-servicing Campaign: Before launching the actual; service in the market. The company
should adopt different marketing policy to enhance the connectivity with the different
region's customers (Linder, Lechner and Pelzel, 2020). In that case, the company can make a
prototype which reflects the actual model of products and services and get a better
understanding that how their services work.
Hosting an Event: An event is every companies’ strengths to gather mass people for their
products and services reaches (Domurath et al, 2020). The new venture should consider their
product attribute for their successful operation for the lateral part of launching services.
Short-term Service using the facility: It's a better way to have a pre-launch offer to the user
of the E-toilet business should consider the minimum level of not more than 500 customers.
The business should consider that; 500 customers have to better opportunity to have a

discount offered for the first 500 people. First 500 people get benefit from this service from
E-toilet business (Domurath et al, 2020).
This is a better way to see the plan for both pre-launch and launch a new venture that
increases profitability.
LO4 Suggestion for an appropriate legal form with a compiled budget
for a new venture
P7 Monthly Cash budget for pre-launch and 12-18 months preceding of new venture
launch
Every venture needs financing to develop its business operation. In this e-toilet venture also
need to finance from different sources and that’s critically needed to continuous profit
generation issues. Before launching a new venture of e-toilet, Pre-launch facilities might have
some financial cost which needed to compensate with the pre-launch cash plan. For this
reason, E-toilet business needs to focus on the pre-launch financing plan first then managed
the preceding first 12-18 months financial prediction for analysis. After successfully
predicting the future cash requirement for the lateral 12-18-month financial plan is quite easy
to figure out what is the profit margin and what about loss margin. Then we introduce the
Break-Even Point (BEP) for visualising the actual position of the organisation (Domurath et
al, 2020).
Here the Pre-launch Cash budget of E-toilet Business;

E-toilet & Sanitary Vending Machine
Pre-Launch Cash Budget
Expenses Amount (in £’s)
Research Expenses
Inventory iCost
Event Hosting Cost
Licensing and Insurance Expense
Promotional post
Website Hosting Expense
12,500
22,700
10,000
15,000
12,000
13,000
Total Expenses 85,200
This is the Pre-Launch cash budget for e-toilet and a sanitary vending machine. This the
expenses before set venture in the market.
The 12-18 Month Preceding cash budget of new Venture here;
Assets 6 Months 12 Months 18 Months
Cash 20,000 22,000 15,000
Account receivable 10,000 12,000 13,000
Inventory 30,000 20,000
Stationary 10,000 10,000 10,000
Vending machine 1,000,000 1,050,000 1,000,000
PC 100,000 100,000 120,000
Furniture 50,000 55,000 30,000
Mobile toilet 800,000 760,000 700,000
Total Assets 2,020,000 2,029,000 1,888,000
Liabilities and owners’ equity:
Accounts payable 75,500 72,000 36,000
5% bank loan 1,200,000 1,300,000 1,000,000
Personal loan payable 420,000 277,000 385,000
Owners’ equity (capital + net profit) 324,500 380,000 467,000
Total liabilities and owner’s equity 2,020,000 2,029,000 1,888,000
The Break-Even Point of E-toilet and Sanitary Vending Machine here;

A break-even analysis is a useful tool for determining at what point our company or our new
service will be profitable. When we’ve broken even, we are neither losing money or making
money, but all our costs have been covered.
Break-even point = Fixed cost / (SP – VC)
= 1,220,000 / (20 – 6)
= 87,143 people
87,143 is the break-even point of our company
If 87,143 people used our app and received our services, then our company will neither make
a profit nor incur a loss.
P8 Suggestion for the legal form for launching a new venture and describing why the
legal form chosen
A legal form means a document by which an organisation followed by obliged rules and
regulation. The legal form is related to the legal authority for the company’s operation. The
E-toilet and Sanitary vending machine took the Limited Liability Company (LLC) forms
because of this kind of business structures requires different prospects for overall business
operation. In this business policy, No owners personally liable for the company’s liability.
The owner is liable for that portion where the owners purchase the share from the
organisations. In this Limited Liability, firm exposes the rules and regulations for the overall
organisations and the legal notices never dissolve under humans die or some sort of
problems. This organisation only dissolution under some criteria otherwise not (Linder,
Lechner and Pelzel, 2020). This legal form proposes that the organisation is made by the
artificial personality which is announced in the legal notice of the company requirements.
The legal notice introduces with members size, the liability portion, working area, meeting
schedule and so many things. With the discussion, the limited liability organisation is fully

free from the risk of dissolution for any cause of marital cause of any board members and any
cause of problems like failure to set board meeting after complete setup the business
operation. The major issue is regarding control of the overall organisation based on the
simple organisation regulation form (Linder, Lechner and Pelzel, 2020). If any member does
not maintain the rules and regulation subjected to the organisation is not legal and that’s why
all member need to sign the form of acknowledgement. After fully read the legal form, the
member needs to concern these documents that, he or she fulfilled the rules and regulation
objected to all of the members.
This Limited Liability Company (LLC) form is the best fit with the E-toilet Business. This
legal notice will ensure the optimum level of benefit all of the company’s shareholder and
overall internal and external stakeholders (Gornall and Strebulaev, 2020).
Conclusion

This assignment deal with the launching a new venture and that’s why the overall discussion
discussed before the assignments. The resources need to accommodate with the
organisational operation and regulations need to adapt with skilful employees who internally
operate the overall business operation and gather profit for the revenue basis. The related
skills and capabilities also discuss a previous part in this assignment. The employees need to
extract their inner lightness to the current and potential users to expand the service all over
the world. For promotional strategies, here discussed several mods of promotional strategies
by which E-toilet business can expand their business in a longer period. After completely
promoting the organisational facts and feature, its time to measure the exact financing needed
for the company operation when shouldn’t launch in the market (Gornall and Strebulaev,
2020). After prediction, the total financing policies there should consider the break-even
point for the overall working performance of the organisation. By this process, an
organisation can arise from the lower part to the top-most level in the market structure and
that’s policy surely develop profit maximisation and sustainable for a longer period.
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