Entrepreneurship Venture: A Business Plan for Aussie Truck Services

This report outlines a comprehensive business plan for a new entrepreneurial venture, "Aussie Truck Services," focusing on the Australian trucking industry. It details the company's mission and vision, target market segments (including the food, retail, and heavy products industries), and strategies for innovation and growth. The report evaluates the benefits and challenges of implementing the business, such as surpassing expectations, improving employee performance, and managing market competition. It also addresses the importance of strategic planning, market analysis, and utilizing marketing tools. Furthermore, the report highlights potential challenges like keeping up with market changes and securing reliable information sources, along with strategies to transition from the early stage to a growth phase. Finally, it touches upon the support systems provided by the government to facilitate entrepreneurial activities, aiming for sustainable and profitable growth in the Australian market. Desklib provides access to similar documents and study tools for students.

Running head: ENTREPRENEURSHIP VENTURE
Entrepreneurship venture
Name of the student
Name of the university
Author Note:

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Table of Contents
Introduction......................................................................................................................................3
Overview..........................................................................................................................................3
Mission of the Company..................................................................................................................5
Vision of the Company....................................................................................................................5
Evaluation of the Innovation process..............................................................................................5
Benefits of implementing the new Business opportunities..............................................................7
Challenges of implementing the new business opportunities..........................................................8
Strategies to move the new business venture from the early stage to the growth stage................10
Support Systems provided by the government to facilitate entrepreneurial activities..................12
Conclusion.....................................................................................................................................12
References......................................................................................................................................14

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Introduction
The following report has prepared a detailed plan to start a new entrepreneual venture.
The report will be highlighting the important elements or components that are needed to start the
following venture. It starts with an overview of the business venture that will discuss the types of
products to be sold by the organization, the target market of the organization and more
specifically the industry in which the business will operate itself. The evaluation of the
innovative measures will be discussed in the next part which will be followed by the benefits and
challenges that the the implementation of the business in the market will experience. The report
will also discuss the different strategies that will be implemented in its transformation from the
early stage to the growth stage of the business life cycle. Last but not the least in any ways the
report will highlight the support system that the government of the country has in place for the
new business ventures. This will include the policies and the procedures in place for the
extensive growth of the business.
Overview
The entrepreneur venture will be a new Truck service company named “Aussie Truck
services” has been selected for this particular project. The name “Aussie Truck Services” is the
best name for the organization as because it brings with it a sense of nationality. The company
will be operating in the truck service industry and will provide trucking services to both private
and public sector organizations. The company will be offering both for-hire trucking as well as
private carriers. However the largest portion of the business will be derived from the private
carriers of Australia. Both truck load as well as less than truck load will be offered to the private
players to gain the maximum possible revenue from the business. The “Aussie Truck Services”

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will be the especially attractive to the food industry as because the participants in the following
industry use referrals, customer service and reputation as the variables for purchase. The
management of the organization has earmarked its target group of customers before the start of
operations. The company will be serving four different kinds of market segments. As mentioned
earlier the first and foremost industry that it will serve is the food industry just because of its
exclusive profit. The following segment is supposed to be experiencing a growth of 3% annually.
The management has already identified around 2000 potential clients who will be in need of the
truck services once the company starts its operations. Currently there is a shortage in the truck
industry in the island continent which is the main reason for the high demand of the different
kinds of trucks ranging from high utility to low utility.
The second segment is the retail industry which again is estimated to grow at the rate of
almost 10% annually and last but not the least the heavy products industry which includes the
transportation of different heavy duty products like cars, vehicles buses, steel and many other
kind of similar products. The rise in the economy of the country has led to the increase in the
demand for different cars and personalized imported vehicles which need to be transported from
the ports and airports to the warehouses or showrooms. This provides another prospect for the
company to utilize. Thus all the three segments will result into an unprecedented growth of the
new entrepreneurial venture.

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Mission of the Company
The mission of the company is to be the best trucking Services Company of Australia.
Vision of the Company
The vision of the company is to provide the best services to different business sectors of
the market and be a part of the economic progress of the country.
Evaluation of the Innovation process
The presence of a transparent planning for the growth of the organization has been
helpful for the industry to identify the different opportunity for growth of the industry. The
presence of the road map will help in infusing new technology, energy and enthusiasm that will
result in the proper growth of the industry (Ahlers et al. 2015). Some of the steps by which the
management of “Aussie Truck services” has identified its growth are;
1. Concentrating on the main product- The management of the company after deciding on
the venture of the business has decided to make sure that they provide full concentration
in the following area. The main theme that they decided to follow was to provide the best
quality services that provide the customers with the greatest value. They have decided to
build their business in such a way so that the service and the products they provide the
business are well and truly different from the other existing products in the market.
Specialization is thus the best asset for “Aussie truck Services”.
2. Keeping the pitch simple- The Company has decided to provide the clients a very short
but precise pitch to make them understand the aims and objectives of the enterprise. The

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more is the value of the pitch the easy it is for the customers to get an idea of the exact
value of the products and services of the organization.
3. Staying Honest and integrated- The management of the mentioned organization has
quite clearly got the idea of what are the exact aims and demands of the organization.
Such an idea helps the organization to make the exact use of the available resources and
utilize them accordingly to provide the best services to the customers (Alvarez‐Garrido
and Dushnitsky 2016).
4. Mapping the Plans- The mapping of the different capabilities with the prospected clients
like the clients from the food and retail industry will help the organization to make use of
the resources in a planned and correct possible way (Baum Frese and Baron 2014). There
might be a demand for the medium utility trucks for some clients but providing them with
any other types of trucks may not be of any help and will ultimately lead to the loss of
customers and a loss in terms of the business.
5. Utilization of the marketing tools- According to, Baum Frese and Baron (2014) the
utilization of the different marketing tools is important for the organization as because it
will help the management of the mentioned truck company to analyze the present micro
and macro factors that may have an impact on the business. The use of the marketing
tools can also be of great help to determine the exact ways of communicating with the
different clients and suppliers of the organization.
6. Implement a proper plan of Action- The management of the business has drawn out the
exact plans that will be undertaken by them to implement the best plans for the action in
the business. The action plan will also help to measure the amount of progress that will

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be made by the organization. The measurement of the different action plans will help in
the establishment of the different goals and objectives of the organization.
Benefits of implementing the new Business opportunities
The implementation of the different business systems by the management of the
organization is the best thing for the mentioned trucking company of Australia. This provides the
benefits only with the proper designing and application of all the necessary elements. The main
benefits of the system includes the likes of the;
1. The company manages to surpass all the different expectations and meets all the goals as
stated in the beginning. The company has decided to take a systematic approach that will
be having a subsystem to look for the different expectations and the satisfaction level of
the customers. The following sub system will determine, analyze, measure and conclude
on the different wants and needs of the customers and accordingly take the necessary
actions.
2. The performance of the employees will be at its best and will rather improve from the
present rate. The completion of a work much earlier than the specified time limit will
surely have a positive impact on the productivity of the employees as well as the
productivity of the business organization. (Bellavitis et al. 2017). This productivity will
help the truck company to collect, transport and deliver products either before the
stipulated time or at the right time.
3. The more is the productivity and punctuality of the trucking business, the less is the cost
incurred for operating the business by the management of “Aussie Truck services”. The

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reduction in the expenses of the company will also help them to provide the best quality
services and make them one of the leading companies of Australia.
4. The maintenance in the quality of the service by the organization will ensure the
company to fall in line with a particular business system (Bruton et al. 2015). This
business system will make the company organized and capable to do different types of
business tasks in the best possible way.
5. “Aussie Truck Services’ must have a dedicated and capable measurement system to
receive a proper feedback on a regular basis and make the organization able to solve
different complex problems on a regular basis. The feedback will send the management
signals about all the different kinds of impending problems that might arise or has already
aroused. The problem solving process will mean a change for the company and a change
in its improvement. The implementation of the business systems will thus help the
organizations to continuous improvement and also to solve the different problems that
may arise as a result of such problems.
6. All the different benefits which have been discussed earlier in this part of the chapter will
lead to a greater profitability for the organization and will help in the effective and fast
growth for the truck company. Australia is already in the verge of an economic outburst
which has helped the organization to embark on a growth journey. The organization will
be having a proper internal organization and can easily solve the different problems that
may occur both externally and internally.

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Challenges of implementing the new business opportunities
Similar to the large number of benefits at the early stage of the business life cycle
“Aussie Truck Service4” will face a number of different challenges that will threaten its
establishment in the market. This includes the likes of;
1. Keeping up with the Market- The mentioned business organization will face a
challenging time to keep up with the market. The more the business will be expanding in
the Australian market in the early stages, the more the competitors will notice it and will
prepare strategy to challenge the business. Being a new kid in the block the focus of the
other competitors will be more on the mentioned truck company (Colombo et al. 2014).
This is more because the loyal customers of the other companies will often have a look
into the opportunities that the companies provides to the clients and will have the
tendency to shift their loyalty to the new company. Thus the management of the existing
companies always keeps a close tabs on the new developments of the other companies
and makes their strategies accordingly.
2. Information Sources- The information sources are needed by the organization to have a
close look into the market and construct the best strategies to gain a competitive
advantage in the Australian market. The challenge lies in the identification of the sources
from which the different information’s can be received. At the early stages of the
operations it will be difficult to identify the supplier of information and thus the company
will have to make extra effort to remove such an obstacle from the path of their growth to
success.
3. Planning Ahead- It will be really difficult for the organization to plan ahead as they will
lack the experience of the market conditions about what shape will it take in the future.

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The growth of the business must follow a constant update of the strategies of the truck
enterprise to attain a certain degree of competitive advantage in the market (Colombo et
al. 2014). However the absence of the opportunities for the business in the early stages
will make them lose business in the coming days.
4. Cash Flow and Financial Management- A proper and effective cash flow control is
utmost important for the business. Being a truck company the investment will be huge
both at the beginning and on the course of its business (Drover et al. 2017). Thus the cash
flow statement must be maintained professionally to avoid any frauds or miscalculations
which can raise serious issues to the proper functioning of the particular business.
5. Absence of Skills- The absence of any proper training programs in the early stages of the
business development is a serious issue for the organization. Presence of unskilled
employees can damage the reputation of the business at the early stages which will spell
doom for the truck enterprise. The management of the mentioned business enterprise thus
must implement a proper training system for the employees to provide the best services to
the clients of the mentioned trucking company.
Strategies to move the new business venture from the early stage to the growth stage
The management of the organization must take a leaf out of the different examples of the
business organizations that started in Australia but survived only a few years just after its
establishment (Jin et al. 2017). They hardly managed to survive the early stages or just 5 years
while there are examples of others who survived the early stages but failed miserably during the
course of the growth stage. This was because the organizations lacked visionary measures to
protect themselves from the different challenges of the modern market. Taking such examples
into account the management of “Aussie Truck Services” must prepare and implement different

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strategies for the survival of the business and ensure its sustainability in Australia. Some of the
main strategies are as follows;
1. Establishing a value proposition- The understanding of the long term growth of the
organization sets the company apart from the different competitions in the market. It is
important for the management of “Aussie Truck Services” to make use of the marketing
tools and determine the uniqueness of the following product. The truck services that they
will offer will be unique and different from the traditional as well as the contemporary and
usual services offered by the other organizations of the market. For example the company
will provide additional discounts on transportation of bulk amounts of goods or can provide
an extra trip for free if the client agrees to transport the goods only through the mentioned
organization. Such kind of innovativeness will be useful for the business organization to put
an authority of its stronghold in the market.
2. Identification of the Ideal Customer- According to, Kuppuswamy and Bayus (2018) the
identification of the ideal customer is utmost important for the management to get the
maximum profitability from the business. The truck company must not entertain any client
with unjust and growing demands and also the clients who tries to utilize the benefits
provided by the mentioned company to them.
3. Definition of the Key Indicators- The key performance indicators of the organization must
be measureable by the organization as it helps to judge and analyze the performance of the
business and improve in any areas that it feels is not meeting the requirements of the
company. The definition of the key indicators to the performance also helps the organization
to invest time and money to the right areas for gaining maximum profitability (Kuratko
2016).

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4. Concentrating on the strengths of the organization- The Company must not waste
maximum time to improve on the weak areas and must rather concentrate on improving the
strong areas and make it stronger to gain more competitive advantage in the market.
5. Proper Investment- As said earlier, the management of the mentioned truck company must
invest wisely in the correct areas to stay sustainable and effective in nature (Morris 2015).
The misutilization of the funds and revenue of the organization will lead to the failure of the
company in the market.
Support Systems provided by the government to facilitate entrepreneurial activities
The government of Australia has in place the Entrepreneurs program which is the
flagship initiative for the business competitiveness and productivity (Morris et al. 2016). The
following program is a part of the Australian Government’s National Innovation and Science
Agenda. The following program offers support to different businesses through four different
elements namely;
1. Accelerating Commercialization
2. Incubator Support
3. Business Management
4. Innovation Connections
On the other hand the Government of Australia also provides practical support for the
business ventures by means of:
 Different advice from qualified experts with experience in the private sector enterprises
 Funding that takes advantage of the different opportunities of growth
 Connection and collaboration opportunities