FINDINDOT: An Entrepreneurship and Innovation Business Report

The report presents a business plan for FINDINDOT, an online portal designed to connect international students with employers in Australia. It addresses the increasing unemployment among international students and the need for a platform to facilitate job placement and career development. The report details the company's management structure, marketing strategies (including seminars, digital marketing, and social media), and competitor analysis. It includes a financial analysis outlining expected expenditures, revenue models, and capital requirements. Furthermore, the report identifies key risks and challenges, such as increasing competition, building trust, employee attrition, and reaching the target market. The conclusion emphasizes the importance of entrepreneurship and the potential of FINDINDOT to address employment gaps and provide augmented services like CV preparation and interview skills training, ultimately aiming to create a user-friendly portal for job seekers and recruiters.

[Company name]
Entrepreneurship and Innovation
FINDINDOT

Entrepreneurship and Innovation 1
Executive Summary
Entrepreneurship is crucial to every economy as it leads to creation of new business. This is why
various governments are offering subsidies and tax rebates on new businesses across the country.
Entrepreneurs are the ones who start this new business (Drucker, 2014). This report throws light
on a new business idea that develops an online portal which brings together job seekers and
employers. The company is unique in targeting a niche group of only international students. This
report lays emphasis on the business’s tentative financial plans, marketing strategies as well as
challenges faced.

Entrepreneurship and Innovation 2
Contents
Executive Summary.........................................................................................................................1
Introduction......................................................................................................................................3
Description of the entrepreneurial venture......................................................................................3
Management (Style and Structure)..................................................................................................3
Marketing.........................................................................................................................................4
Seminars and events.....................................................................................................................4
Digital marketing.........................................................................................................................4
Social media marketing................................................................................................................4
Competitor analysis.........................................................................................................................4
Financial Analysis...........................................................................................................................5
Key risks and challenges.................................................................................................................6
Increasing competition.................................................................................................................6
Lack of trust.................................................................................................................................6
Employee attrition and poaching.................................................................................................6
Difficulty in reaching the target market.......................................................................................6
Conclusion.......................................................................................................................................7
References........................................................................................................................................7

Entrepreneurship and Innovation 3
Introduction
Entrepreneurship refers to creating a new business venture and the ones who commence this idea
of crafting a new business are called entrepreneurs (Kirzner, 2015). Entrepreneurs play a massive
role in the overall growth and development of any economy at large. This report throws light on
the new business idea that we have created. Through this report we not only aim to explain the
new business idea but also lay emphasis on the business’s management styles and the marketing
strategy that we plan to adopt for promoting the same. The report also contains details of a
tentative financial analysis of the business along with the key risks or challenges that the
business is likely to face when implemented.
Description of the entrepreneurial venture
There were over 0.6 million international students that enrolled in Australia in the year 2015.
This is owing to the high quality of education provided by our schools and universities. The
competition within the job market is largely increasing and has led to a highly qualified students
being unemployed. The increasing unemployment in Australia is a cause of worry and hence our
organization puts an effort in not only increasing the country’s employment but also ensuring
that the right candidate is hired for the right job. Increasing job dissatisfaction as well as
employee attritions in leading businesses are concurrent problem faced by the country. In order
to solve this issue, we have attempted to create a business portal where recent graduates and
employers could connect with each other. This portal would be online and act as a bridge
between job seekers (international students) and employers. The students would also be assisted
upon enhancing their interview skills as well as they would be provided guidance on making an
effective CV. The employer as well as the job seeker profile would be maintained on the portal
and everyone would be provided with their login IDs and password. Personal counselling as well
as group trainings would be conducted for students to prepare them for the corporate world that
lies ahead.
Management (Style and Structure)
The company would employ a group of 25 people to begin with. There will be two partners and a
large sales team. Being a startup, we would be hiring young and dynamic employees who can

Entrepreneurship and Innovation 4
take ownership of the organization and work towards the company’s growth and development.
The organization structure would be as below:
Partners 2 Key partners.
HR department 4 employees and 1 admin
Sales department 12 people sales team led by 2 sales heads
Finance and Accounts department 2 people.
Marketing and PR 2 employees.
The organization would adopt a flat structure that promotes open communication. The
departments have been divided so as to clarify the jobs of each employee. Over a period of time,
when the organization grows, the initial culture and essence would be maintained.
Marketing
Marketing involves the activities that help in promotion of the product that has been developed
(Armstrong, Kotler, Harker & Brennan, 2015). Marketing plays an important role to make sure
that the product developed reaches the targeted market. The target market of FINDINDOT are
corporates (employers) as well as international students (job seekers). In order to promote the
product, the following strategies will be adopted.
Seminars and events
Seminars and events would be conducted in Australian universities to enhance awareness about
FINDINDOT. Event marketing is an effective strategy to ensure that a large group of people are
indulged in face to face conversations under a single roof. It provides them an opportunity to
clarify their doubts and hence has a greater impact.

Entrepreneurship and Innovation 5
Digital marketing
Search engine marketing as well as search engine optimization would be conducted to ensure the
brand is promoted as well as easy to search for on online platforms (Chaffey & Ellis-Chadwick,
2016). Digital marketing strategies are adopted to ensure that the business is easy to search on
predominant search engines as well as it effectively targets its potential consumers through
different digital platforms.
Social media marketing
Any marketing done via social media platforms like Facebook, Instagram, twitter or Snapchat is
better known as social media marketing (Tuten & Solomon, 2017). Facebook page and twitter
account would be created to enhance brand awareness and reach out to the target market.
Competitor analysis
Like every other industry, the career counselling and HR solution based companies are
increasing in number. This industry comprises of a large number of organized as well as
unorganized units. However, in the organized sector, seek.com, khojira.com, Suman Tiwari
Facebook page, careerone.com, jobsdb.com and simply hired Australia are leading competitors.
In order to ensure effective sales of the firm, it is imperative that our business has competitive
advantage against them. Some firms compete based on price, while some compete based on the
uniqueness of their product (Fabra & Garcia, 2015). Our competitive advantage would be as
below:
1. Augmented services – personal counseling of students, guidance on CV preparation and
interview development skills training (Kauppinen-Räisänen & Grönroos, 2015).
2. Unique target market – only international students.
Having a competitive advantage allows businesses to position themselves uniquely in the minds
of their target market. This brand positioning eventually leads to enhanced sales and improved
goodwill in the industry (Price, 2017).

Entrepreneurship and Innovation 6
Financial Analysis
For any business to flourish, it is important to have a financial understanding and the ability to
forecast future financial needs and upcoming expenditures as well as revenues of the firm
(Storey, 2016). This helps the business in avoiding any unforeseen expenditures for which the
firm is not prepared.
Expected expenditures in the first year of operations
Land and Building (on rent) AUD 18000
Employee salaries of 25 employees AUD 400000
Sales cost AUD 45000
Marketing expenses AUD 12000
Miscellaneous expenses AUD 5000
Total AUD 480000
Business fee structure
Customer Fees paid
Students Fixed advance fee of $2000 + 50% of first
month’s salary
Employers Fixed advance fee of $2000 + 50% of first
month’s salary paid to employee + Bonus of
$5000 after the employee completes 6
months.

Entrepreneurship and Innovation 7
Capital required
Own funds AUD 350000
Raised from friends and family AUD 150000
Once the business grows and develops, the profits will increase and the same money will be put
back in the business. Secondly, angel investors would be approached after third year of
operations after complete analysis of the business’s working, profitability as well as brand value.
Key risks and challenges
Every business faces a certain set of challenges and risks that hamper the growth of the
organization. It is important to know these risks in advance so as to be prepared for them.
Increasing competition
Increasing competition is the biggest challenge faced by any business today. With the increasing
population and advent of globalization, the need for new businesses is rising and so are the
number of business. The ease of starting a new venture has increased and all the industries have
become Red Ocean due to a high number of players. To a certain extent this leads to increased
innovation and growth of economy but eventually it leads to price wars.
Lack of trust
Once the employer and student have been aligned. It is largely possible that the student gets a
better opportunity or the employer hires a better candidate. They are no obligated to work
together. Although the advance fees has already been received but it creates a lack of trust and
hampers the goodwill of the company.
Employee attrition and poaching
A large number of attrition in employee sent to different organization will affect the brand image
of our company as well as may lead to losing corporate clients. If these students are poached by

Entrepreneurship and Innovation 8
competing organization after joining, then too the clients lose their trust in the business (Anitha
& Begum, 2016).
Difficulty in reaching the target market
Since the market targeted by us is niche (international students) it is highly difficult to reach out
to this market (Amos, 2016). Advertising on social media and organizing seminars in colleges
would target all the students simultaneously. This could be a major setback for the firm.
Conclusion
Entrepreneurship forms an essential part of the economy and leads to growth and development of
a nation through creation of new businesses (Kuratko, 2016). This report has highlighted a new
business venture ideated by us. The business revolves around creating an online job portal which
would bridge the gap between international students who are seeking jobs and potential
employers across Australia who are looking for competent candidates to fulfill various job
requirements of their firm.
The firm would be targeting only international students through conducting events and seminars
in colleges, social media marketing, digital marketing and depend on work of mouth publicity.
The business will offer augmented services like preparing students for interviews and helping
them design CV and guiding them through the entire recruitment process.
The organizational structure of the business would be flat in nature and would promote and
propagate open communication among all stakeholders. Like every other business, FINDINDOT
could face challenges like increasing competition, higher number of employee attrition and
poaching as well as difficulty in reaching the target market. Overall, the idea is provide for an
excellent, user friendly and largely accessible portal with the aim to unite job seekers with
recruiters and vice versa.

Entrepreneurship and Innovation 9
References
Amos, D. (2016). How to Define Your Target Market.
Anitha, J., & Begum, F. N. (2016). Role of organisational culture and employee commitment in
employee retention. ASBM Journal of Management, 9(1), 17.
Armstrong, G., Kotler, P., Harker, M., & Brennan, R. (2015). Marketing: an introduction.
Pearson Education.
Chaffey, D., & Ellis-Chadwick, F. (2016). Digital marketing. Pearson.
Drucker, P. (2014). Innovation and entrepreneurship. Routledge.
Kauppinen-Räisänen, H., & Grönroos, C. (2015). Are service marketing models really used in
modern practice? Journal of Service Management, 26(3), 346-371.
Kirzner, I. M. (2015). Competition and entrepreneurship. University of Chicago press.
Kuratko, D. F. (2016). Entrepreneurship: Theory, process, and practice. Cengage Learning.
Price, L. G. (2017). U.S. Patent No. 9,646,288. Washington, DC: U.S. Patent and Trademark
Office.
Storey, D. J. (Ed.). (2016). Entrepreneurship and new firm. Routledge.
Tuten, T. L., & Solomon, M. R. (2017). Social media marketing. Sage.