Entrepreneurship Development Plan for an Australian Tourism Company

This report details an entrepreneurship development plan for an Australian tourism company, focusing on a small business startup within the industry. The report utilizes the Lean Canvas Business Model to analyze key activities, value propositions, customer segmentation, and marketing strategies. It emphasizes the importance of identifying customer needs, key partnerships, and resource management for service delivery. The plan covers operational aspects like customer relationships, channels, cost structures, and revenue streams. The report also emphasizes the identification of opportunities and the importance of feedback in refining the service. The assignment highlights the significance of financial planning, employee management, and risk analysis for the venture's success. The report concludes with a discussion on the factors that contribute to the plan's feasibility and potential for success in the Australian tourism market.

Running head: ENTREPRENEURSHIP DEVELOPMENT PLAN.
ENTREPRENEURSHIP DEVELOPMENT PLAN.
Name of the Student
Name of the University
Author Note

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Executive Summary
This report deals with the entrepreneurship development plan through which
the new and innovative business strategy can be implemented in the market. The
report will analyze several criteria and facts which should be focused before making
the plan and before implement it in the market. The entrepreneur should take care
about this to make a successful development plan.

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Table of Contents
Executive Summary...................................................................................................................1
Introduction................................................................................................................................5
Discussion..................................................................................................................................6
Key Activities.........................................................................................................................6
Value proposition...................................................................................................................7
Key partners...........................................................................................................................8
Key resources.........................................................................................................................9
Customer segmentation........................................................................................................10
Customer relationship..........................................................................................................11
Channels...............................................................................................................................11
Cost Structure.......................................................................................................................12
Revenue Stream...................................................................................................................13
Operational plan...................................................................................................................13
Action plan...........................................................................................................................14
Opportunity identification........................................................................................................14
Conclusion (why it will work).................................................................................................14
References................................................................................................................................15
Appendix..................................................................................................................................17

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Introduction
Entrepreneurship development plan is the process through which the innovation of
new product or services can be implemented in the market or in front of the community. For
innovation of a new business plan the entrepreneur has to be a keen observer and one has to
seek the current problem which is faced by the people of the society and the entrepreneur has
to make some innovative idea through which the problem can be solve. The proper solvation
of the problem will make the way for gaining profit (Abhyankar 2014). More people will use
the product for get the relief from their pain or from their problem them the business will
enlarge more. After all the proper identification of the current problem is the utmost task
should be done before implement and plan for something new. Entrepreneurs have to use
their skills and talents and above all the proper knowledge to be an entrepreneur and to
develop the proper innovation or the plan. Proper Identification of the current needs of the
people those are unavailable in the current market and in the current time. The
implementation of the new idea should be based on the need of the people so that the people
can avail it as per their need. The entrepreneurship development program is the skill
development program plan which emphasizes upon the several aspects of the entrepreneur
through which they can implement the proper skill and knowledge for develop the business in
a successful way (Portes and Yiu 2013). Entrepreneurship is the essential process through
which the ability of improved living style can be enhanced where the new product or services
can be innovated in an improved way so that it can reduce the problems of the people (Ács
and Naudé 2013). There are four types of entrepreneurs are available in the market those are
entrepreneur who starts with small business, scalable startup, startup of a large sector or
company and the last one is the social entrepreneur (Audretsch, Belitski and Desai 2015). The
entrepreneur has to develop some skills and knowledge to develop a new business. The skills

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and knowledge should be based on proper identification of the market and the current issues
of the business. With this there should be good leadership power, critical decision making
and critical situation handling power, risk analysis strategy, business goals, management
plans, market structure and market analysis with proper segmentation of the market,
operational plan and mainly the action plan. The new business plan also carries key sources
of resources; revenue streams (Kurowska-Pysz 2016). Cost structure, value proposition and
channels. The opportunity also should be analyzed after the identification. There should be
the short term and long term goals with proper objectives of the business. The feasibility of
the plan should be analyzed systematically.
Discussion
Here in the discussion part a new business plan or entrepreneur plan will be
elucidated. New business plan is a small business startup plan and with the following points
the key factors of that plan will be discussed in an analytical way so that it can be easily
understood by the investor for scrutiny and for achieve the funding opportunity. The new
product which should be innovated in the market that is the Australian Tourism Company and
the most outstanding feature of the service is that the service contains effective features and
offers in a very low cost. In the entrepreneurship development process the most essential tool
or the model is invented by Alexander Osterwalder and that is the strategic model through
which the new business plan can be easily determined and the essential tasks and features can
be analyzed. The name of the model is the Lean Canvas Business Model.
Key Activities
There are some certain activities should be accomplished to publish the product in the
market. The service is the tourism so the targeted customers are the people who are interested
in tour and travel. At first after producing the product some sample files should sell in the

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market directly to the targeted customers and the feedback should be collected by the
marketer for implement some changes in the service if needed. The feedbacks from the
customers are very much important to develop the service (Mitra 2013). The service will
reduce the problem of the people they will get the guide and as well as several kinds of
supports for their tour and travel purpose they will be able to enjoy that in a systematic and
collective way.
Value proposition
The value proposition of any service ensures the newness of the service (Kurowska-
Pysz 2016). It emphasizes upon the attributes of the service. The problem of getting a guide
in the tour and making the tour in a suitable way so that it consumes less time and money.
The targeted customers are those people who are really very adventure lover and make tour
and journey every year. The other travelling agencies are the rival companies of the company
and so that to attract more consumers the satisfaction should be given to them so that they
become more reliable to the company with the help of effective and convincing behavior.
Though the service is totally new in the market that is why there will be no brand identity in
the mind of the people. The AIDA model can be used for the marketing purpose of the
service. The hand bills can be distributed through proper advertisements done by the
marketers directly to the targeted customers for collect their attention. If the targeted
customers become attentive of the service then will obviously show the interest in front of the
marketer (Bosma 2013). The marketer understands the customers are showing the interests
then the marketers have to attain the action plan after making the customer desirable. This is
the way through which the product can get the identity. At the very first stage it will be tough
to gain more consumers and attentions from the people but through proper and satisfying
service the brand identity can be created. The actual price also can be determined after
receiving the feedbacks from the customers. Feedbacks are the most essential things that will

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help the entrepreneur in stating the price of the product or the service and to make some
changes if needed as per the requirements of the consumers. The cost can be reduced through
choosing some ways that are cheap, in the time of promotion of the service and while making
the positioning strategy. If the feedbacks from the customers are become fruitful then the
service can be purchased by the people of all over world.
Key partners
The key partners of the business are those people who are essential for the business
and have the same responsibility with obligations for the business. Here in this business the
key partners of this business are the stake holders and the employees and workers of the
business. Marketers have the very crucial role in the very first phase of the business. Because
the task of making people aware about the service and make them interested only can be done
by the marketers. The acquisition of the proper and particular resources and the activities are
very much essential for developing the service. The risks related to the business should be
tackled in a preplanned manner so that can be eliminated from the business like there should
be strategic implementation of the marketing, finance and human resource theories and
models with the principles. The risk should be analyzed in a systematic way and logically.
There should be perfect knowledge and skills which will help to understand the upcoming
threats and risks. The partners of the business should be involved in the decision making
process and their participation should be encouraged. Proper motivation and leadership only
can enhance the charm and energy of the stakeholders or the key partners.
Key resources
The key resources are those things which are necessary in the time of merging the
resources to develop the product and to make the smooth running of the operations related to
the business. The employees who are providing the service to the people should be educated

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and skill full enough so that they can entertain the consumers. The behavior and the
communication should be very effective so that it enhance the interests of the customers and
make the liable with the service. The other key sources are the revenue stream and the
relationship with the customers (Liñán and Fernandez-Serrano 2014). The revenue also can
be earned from the food provided to the customers and from the travelling costs which are
accessed by the customers. In the very primary stage there should be proper and effective
advertisement channel needed because the service is totally new in the market so that it will
be marketed directly by the marketers with the help of proper channel and advertisement.
Later after creating the service awareness there will be the positioning strategy is needed for
the development of the service. The employee management should be very effective and the
employees should be well trained and possess effective communication skill to gain the
customers perspectives. The financial budgeting like the working capital and the capital
budget should be planned well which will include every kind of expenditures and the
calculation of the assets and the liabilities will be there. The entrepreneur also should
calculate the deployment charges of human resources and the technology as well as the
channel which emphasizes upon the lodging purpose of the hotels. There will be more
expenditure in the very primary stage of the business and this will become the certain cause
of the high service price. There will be expenditure upon the health and safety issues of the
employees and the workers. The management should be done for the sake of training for the
employees and for the development purpose. The human resource manager should takes care
every kind of functions related to the workforce. The customer relation is very essential thing
to gain loyal customers and for gaining more profit with the proper support of the customers.
The behavior with the customers should be very much effective so that they can get the
satisfaction from the marketers. Marketers should tackle the questions coming from the side
of the customers and the need of the customers should know by the marketer after

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communicating with the customer (Lipset 2018). The marketer should make the customer
agree with proper communication and great behavior. The features of this service should be
properly spoken by the marketer so that the uniqueness of the service can be understood by
the customer and they will show the eagerness to buy it. After selling the product the
feedback also should be collected by the marketer so that the consumer will think that the
company is thinking about them and they are trying to make the customers satisfy with their
service. This strategy will enhance the loyalty of the customers.
Customer segmentation
The customer segmentation is very much essential to know that who are the targeted
customers and how they can be approached by the company. The service is travelling and
tour oriented so naturally the targeted customers will be the people who love to travel and
who has the love for adventure. At the very first time of the business the service can be sold
by the marketers through directly with the proper communication and by the help of hand
bills. There should be enough sample files to collect the feedbacks from the users. The
marketers should demonstrate its feature and uniqueness in front of the consumers so that
they can easily get to know its uniqueness. They will be interested if the perfect
demonstration can be shown to them. The customer segmentation identifies the number of the
potential customers.
Customer relationship
Effective customer relationship can be built through proper communication with the
customers. The customers will be influenced by the convincing communication made by the
marketer. The marketer should always be polite and good listener. The need of the customer
and the problem which the customers are saying should be tackled in an effective way by the
marketers. After providing the service to the customers the feedback also should be collected

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from their side so that the need of the customers can be marked. This strategy is also assist in
implementing new features and changes in the service. The marketer should provide care and
proper service after selling the product and this thing only can develop the loyalty of the
customers and will make them obliged with the product and with the brand. However
entrepreneurs have to struggle very hard in the very first stage of their business because
people are unknown about the new brand and about the product. So to enhance growth and to
make customers aware about the product the field survey and the collection of the feedbacks
are the utmost activity. After providing he service proper communication with the customers
is very essential even after the business, to develop effective relationship with them and to
make them loyal with the brand (Liñán and Fernandez-Serrano 2014).
Channels
Channels are other necessary things which should be analyzed and planned before
start the marketing. Before implement the service in the market there should be proper
strategy which will marked the individuality of the service and also will state that in which
way the service can be reached to the customers. In this case direct approaching and through
showing the route chart and special allowances and feature of the service to the people will be
the best way to make them interested. The social media also can be used by the marketers for
advertisement purpose. Handbills also can be distributed by the marketers. In this digitalized
world the internet is the best thing for making the advertisement. Many people will come to
know about the product if the internet and social cites can be used through making some
attractive video where the features of the product will be shown in an effective way so that it
can make the people attracted while they will see that advertise. How the marketers are
approaching the customers and how they are selling their product and services to the people
is called the channel (Abubakar 2015). Here in very primary stage of the business the services
can be sold directly to the customers through entering in the field directly. It will be more