Innovation & Entrepreneurship: LSS 2403 Personal Business Plan

This personal business plan outlines the "Alpha Fitness Initiative," a concept focused on promoting health and fitness. It details the vision, marketing and implementation strategies, and potential risks and mitigation plans for the initiative. The plan emphasizes positioning the brand as a trusted entity, leveraging promotional networks, and establishing an online presence to expand reach. It also acknowledges external factors that could affect the business and proposes continuous monitoring and servicing programs to manage these risks. The plan's initial milestone is to establish the brand as a preferred choice within the local area.

PERSONAL
BUSINESS
PLAN

Vision and Opportunity
 Alpha Fitness Initiative” is a business concept
that not only targets a number of present
limitations in the fitness market but also
encourages people to stay fit and lead a
healthy life (Ward, 2016)
 “Every person deserves to become the very
best they can be” is the philosophy this
initiative will abide by.
 I am passionate about leading a healthy
lifestyle. Keeping my body in shape has been
something that i have loved since childhood
(Koehler, 2016).

Marketing and
Implementation
 The brand will position itself as an entity
that can be trusted by the local and regional
community (Spann, 2015).
 The targeted promotional product will reach
a broader market and these networks can
be leveraged to increase the reach of the
fitness industry (Armstrong, 2016).
 An online promotional strategy will establish
word to mouth business which will in turn
increase the up taking of members
nationwide.

Risks and Mitigation
 External factors ranging from unawreness,
unwillingness and laziness to local politics and
corruption can all affect the business in its initial days
but once traction is achieved they can be handled
efficiently without any complications (Peterson, Jaret,
and Schenck, 2016.).
 Continuous monitoring and frequent servicing
programs will manage such risks before they have a
lasting effect on the business. “Humane Owner,
progressive developer, social enthusiast.”
 The first key milestone of this initiative will be
establishing itself as a brand of choice for the general
population within the perimeters of the local area.

REFERENCES
 Armstrong, S., 2016. What happens to data gathered by
health and wellness apps?. BMJ: British Medical Journal
(Online), 353.
 Koehler, W.S., 2016. Fit as a fiddle: a longitudinal case study
of an early-stage social entrepreneurial venture in the fitness
industry. Journal of Ethics & Entrepreneurship, 6(2), p.63.
 Peterson, S.D., Jaret, P.E. and Schenck, B.F., 2016. Business
plans kit for dummies. John Wiley & Sons.
 Spann, S., 2015. Wearable fitness devices: personal health
data privacy in Washington State. Seattle UL Rev., 39,
p.1411.
 Ward, J., 2016. Keeping the family business healthy: How to
plan for continuing growth, profitability, and family
leadership. Springer.