Entrepreneurial Opportunity: Business Start-Up Domain Application

This report provides an analysis of Trouva, an online entrepreneurial business specializing in homeware and unique products. It describes the business start-up and applies seven domains to assess its viability, including market attractiveness, target segment benefits, industry attractiveness, sustainable advantage, mission, ability to execute, and connectedness across the value chain. The analysis uses frameworks like PEST and Porter's Five Forces to evaluate the external environment and VRIO to assess internal capabilities. The report concludes by summarizing the findings and highlighting the critical factors for success in the entrepreneurial venture. Desklib offers a wealth of similar resources, including past papers and solved assignments, for students seeking to enhance their understanding of entrepreneurship.

Entrepreneurial Opportunity

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Description of business start up...................................................................................................3
Application of the domains to the business start – up.................................................................3
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................1

INTRODUCTION
Entrepreneur is an individual who helps in creating new business by bearing the risks and
rewards (Bancilhon and et.al., 2019). Trouva is the online entrepreneurial business which
specialises in selling the products and services to the customers at large scale. This
entrepreneurial business is a small business started in London.
The report will analyse description of the business start-up. Further, application of the
domains to the business start – up will also be explained in detail.
MAIN BODY
Description of business start up
The Trouva is an entrepreneurial business which provides the customers with products and
services at large scale within the market. Trouva is a London based marketplace which is online
and sells unique products and hard to find pieces which focuses on homeware and hard to find
products and services. It provides the customers lifestyle products and services to fulfil their
needs and demands. The company sells over 2,00,000 products to more than 800 boutiques via
online platforms. Trouva works with independent retailers and helps the business to grow
effectively and in appropriate manner at large scale (Fourati and et.al., 2018). Trouva is the
business which brings the customers and the retailers who are independent together in the
marketplace. It is the start up business which is award winner which helps in disrupting the retail
space at large scale as to how effectively and in appropriate manner the changes are being taken
place within the business. The Trouva business helps in offering unique products and services to
the customers at large scale within the market place. With the help of this, there are certain
aspects as to how the start-up business is offering the most helpful products and services to the
customers.
Application of the domains to the business start – up
There are seven domains which are being addressed in respect to the entrepreneurial
business start-up. The domains are described as –
1. Market attractiveness and micro level – The segment of the market which is likely to
benefit from Trouva is demographic market. Trouva is different from other businesses in the
same segment as the business provides the products having unique qualities in the products of

homeware. The trends in this segment are that it produces the homeware products and services
which helps in addressing that they are being promoted at large scale (Roy and et.al., 2020). Yes,
the business is growing at large scale and it helps in seeking the market opportunities. The other
market segment which could be accessible are – geographic and behavioural segments.
2. Target segment benefits and attractiveness – With the help of PEST analysis, the market is
being analysed effectively and appropriately. The social factors include the changes in the
customer preferences and demographic changes helps in addressing the aspects of business at
large scale for the products which are hardware of Trouva. The popularity of products has
changed the demography. The technology factor has been of the advantage for Trouva as it helps
in providing the hardware products through online platforms. Technology has helped in making
the customers experience better. Yes, these factors look healthy.
3. Industry attractiveness and micro level – With the help of Porter’s Five Force Model, there
is threat of entry of new products and services in the market which helps in knowing that it has
become difficult for the companies to entre the industry. Along with this, the suppliers have the
power to set terms and conditions in the market for the products (Fang, Zhang and et.al., 2020).
These are the essential two factors which have been addressing as how the industry is being
attractive. The competition of the industry will be with the retail sector as the entrepreneurial
business is very attractive in the market.
4. Sustainable advantage – With the help of VRIO analysis, Trouva’s products and services are
being analysed in the market. Trouva is able to exploit the opportunity in the market by
following the market trends which helps in fulfilling to the customer needs and requirements.
With the factor of organization, Trouva is ready and organized with the aspects as to how the
products and services are being addressed and are constantly taking concern of how effectively
the products are not imitable by the other businesses as Trouva sells unique products and
services.
5. Mission, aspirations and risk propensity – The entrepreneurial mission of Trouva is to
invade the online inventories which helps in growing and developing the business at large scale.
Trouva serves a particular market which is the retail market residing in it (Battilana, 2018). The
level of aspirations for the entrepreneurial dream helps in knowing that the entrepreneurial
business is largely concerning to fulfil the needs and requirements of the customers by making

them happy and this helps in addressing to the aspect that Trouva is also concerned of the growth
in the business.
6. Ability to execute on Critical Success Factors – The success of Trouva is determined by
what is the value of business in the market. The critical success factors which exist are – skilled
resources, have clear business objectives, there is agile process which is being followed by the
company, clear vision and objectives of Trouva are being addressed. Yes, me and my team will
this entrepreneurial business as we are engaged in promotion and making reach the products and
services to the customers at large scale.
7. Connectedness up, down and across value chain – Team know up the value chain in the
companies that are likely suppliers to proposed business and to competitors are there in the
entrepreneurial businesses within the retail industry (Zhu and Kouhizadeh, 2019). There are no
substitute products as the products which Trouva provides to the customers are unique. With the
help of primary data, there are aspects as to how it is being collected with the help of interviews
and surveys.
CONCLUSION
Thus, it is concluded from the above report that description of the business start-up was
analysed and described. Further, application of the domains to the business start – up was also
explained in detail. This was demonstrated in expanded manner with all the seven domains along
with some models which were described within the analysis of the seven domains of the
entrepreneurial business.

REFERENCES
Books and journals
Bancilhon, A. and et.al., 2019. The digital entrepreneur: Toward a definition.
Battilana, J., 2018. Cracking the organizational challenge of pursuing joint social and financial
goals: Social enterprise as a laboratory to understand hybrid
organizing. M@ n@ gement. 21(4). pp.1278-1305.
Fang, S., Zhang, C. and et.al., 2020. Physical attractiveness of service employees and customer
engagement in tourism industry. Annals of Tourism Research. 80.
p.102756.
Fourati, H. and et.al., 2018. Entrepreneurial optimism, the nature of entrepreneurial experience
and debt decision for business start-up. International Journal of
Innovation Management. 22(03). p.1850024.
Roy, S.K. and et.al., 2020. Consumer-computer interaction and in-store smart technology (IST)
in the retail industry: the role of motivation, opportunity, and
ability. Journal of Marketing Management. 36(3-4). pp.299-333.
Zhu, Q. and Kouhizadeh, M., 2019. Blockchain technology, supply chain information, and
strategic product deletion management. IEEE Engineering Management
Review. 47(1). pp.36-44.
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