Entrepreneurial Development Report: The Healthy Selection Business

This report analyzes 'The Healthy Selection,' a healthy food business focused on delivering organic meals. It begins with an introduction to entrepreneurial development and the company's mission to provide healthy food options for various dietary needs. The report then delves into the customer value proposition canvas, outlining the gains, pains, and customer jobs. A lean business model canvas is presented, detailing the problem, solution, key metrics, unique value proposition, unfair advantage, channels, customer segments, cost structure, and revenue streams. The report includes the CEO's SMART objectives for the first three years and concludes with a financial plan summary and an analysis of why the business represents a sound investment opportunity. The appendix includes market research data and financial figures supporting the business plan.

Entrepreneurial Development

TABLE OF CONTENTS
1. INTRODUCTION.......................................................................................................................1
2. CUSTOMER VALUE PROPOSITION CANVAS.....................................................................2
(3) Lean business model canvas.....................................................................................................3
4. C LEVEL SPECIALIST CONTRIBUTION...............................................................................5
(5)Financial plan summary..............................................................................................................6
(6) Why invest in lean business opportunity?..................................................................................7
REFERENCES................................................................................................................................8
APPENDIX....................................................................................................................................10
APPENDIX 2............................................................................................................................12

1. INTRODUCTION
Entrepreneurial development is considered to be as an effective process which in turn
helps in improving the knowledge, capability and skills of the entrepreneurs with the help of
continuous training and development programs. The key point of entrepreneurship development
is mainly associated with the increase in the volume of entrepreneurs (Hayter, 2016).
Entrepreneurial development is considered to be crucial because it helps in creating wealth,
improve standard of living and also helps in driving change with continuous innovation and
creativity. This helps in enabling development of new products and services. Entrepreneurial
development is considered to be very crucial for the growth and survival of the economy.
“The Health Selection” is considered to be healthy food business where they focus on
offering delicious tasting meal which is made from high quality organic ingredients which will
be delivered straight to the door steps of the customers. This will help in giving benefit to the
individual body and mind. “The Health Selection” is considered to be the healthiest solution for
each and every age group which includes adults, children in accordance with special dietary
requirements, vegans and for the people who are on weight loss diet. “The Health Selection”
tends to offer menus from large variety of plans and variety of menus which in turn helps in
providing effective diet plan for each individual with the help of dietician. “The Health
Selection” tends to offer easy use of services and effective payment method in order to attain
higher operational goals and objectives.
The Chief Executive Officer (CEO) of the company is considered to be one of the most
administrative officer who intend to focus on taking decisions associated with carrying out the
operations of “The Health Selection” business.
SMART objectives of the CEO for the first three years of operations:
 The profit of “The Health Selection” company will increase by 8% in the second year and
by 10% in the third financial year.
 The sales revenue of the company will be 25% in the next year, it will further increase by
30% in the second year and by 35% in the third fiscal year.
 The net profit margin for the first year is expected to be 10%, for second year 15% and
for the third year it is expected to be 18%.
 “The Health Selection” company focuses on delivering high quality organic ingredients
food by personalizing the diet according to the individual.
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2. CUSTOMER VALUE PROPOSITION CANVAS
Customer value proposition canvas is an effective model which helps in ensuring that the
products and services of the company are effectively positioned by effectively complying with
the needs and values of the customers. This canvas helps in ensuring that there is a fit between
the specific product and market (What is the Value Proposition Canvas?, 2019). The value
proposition is further classified into gain creators, products and services and pain relievers. The
customer profile proposition is further classified into gains, pains and customer jobs.
Value proposition for Healthy Selection Gain Creators: “The Health Selection” is considered to be one of the innovative and
creative range of healthy food business which tends to offer fresh prepared food which in
turn is made from high quality organic ingredients (Pokorná and et.al., 2015). The gain
creator associated with “The Health Selection” business is that it also offers meal to
vegans and people who are on weight loss plan. Products and services: “The Health Selection” tends to focus on delivering healthy foods
and services to the customers. They also deliver the products and services offered by the
company at the doorstep of the customers. “The Health Selection” tends to offer easy use
of services and effective payment method in order to attain higher operational goals and
objectives.
 Pain Killers: “The Health Selection” tends to focus on alleviating the pain of the
customers, by delivering them meals and also offering wide range of ideas which in turn
mainly focuses on carrying out the operations of the business and attain higher customer
satisfaction (Sheehan and Bruni-Bossio, 2015). They also focus on developing an
application and online website which helps customers to order online. The customers are
also benefited from the advice of the dieticians in accordance to the needs of the
customers.
Customer profile proposition Gains: “The Health Selection” company tends to focus on providing services to the
customers who are focusing on weight loss. Eating healthy high quality organic food is
considered to be beneficial for the customers which helps them feel physically,
emotionally and socially better. It also tends to focus on avoiding allergies which in turn
made it easier with the help of customized ingredient selection by the dieticians and
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customers. Another gains offered by the company is that, it helps in tracking the order
and also one click reorder (Vorbach, Müller and Poandl, 2019). Another gain offered is
zero time in relation with payment and it also gives ease of eating vegan. Pains: This factor helps in determining the negative experience of the customers while
delivering specific products and services. Lack of creativity associated with the restricted
diet plan and lack of motivation is considered to be one of the major pain associated with
the customers. Lack of time related with cooking the meal from the scratch is considered
to be the time consuming process. Mean plan ratings are considered to be one of the
major factor which in turn influences the experience of the customers.
 Customer jobs: “The Health Selection” tends to provide healthy lifestyle and healthy diet
plan to the customers. It also focuses on providing employees with healthy lunches and
also tends to focus on easing to keep up with the diet plan (Moore, 2020). It focuses on
providing tailored nutrition diet plan to individuals by effectively assessing the dietary
habits, genetics, sleep behaviour, physical activity, microbiome and metabolome.
(3) Lean business model canvas Problem: In today time period obesity become one of the major and common problem for
the people. In many nations of the world obesity is increasing at rapid rate and due to this
reason people are forced to eat diet food. Often people prefer to avoid diet food because it
is less tasty or very bad in taste. Due to this reason even, people have health issue they do
not like to eat diet food. This is the one of the major problem that people faced and
current business idea is the solution of that problem (Falasconi and et.al., 2015). There is
also another scenario where people do not like to eat diet food but they prepare same at
the home and attempt to make it tasty while at same time keeping its nutrition quality
same. In such kind of cases food loose either its nutrition value or its quality. Hence,
entire hard work gone waste. Current business idea will solve this pain point of the
people. Solution: Solution of the problem is that under innovative concept there will team of
chefs and one dietician. Menu will be available to the people and from it they can pick
any sort of item they wish to eat. If any one does not have diet chart then it can meet to
the dietician and can obtain diet food related guidance. Team of chefs will ensure that
good quality of food with delicious taste is provided to the buyer. According to
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preference of the customer also customized food item will be prepared. Under this, one
who place an order can suggest ingredients that it intend chef to use to prepare food item.
By doing so under business idea it is ensured that needs and wants of the customer will
be satisfied in proper manner this is the reason due to which business idea seems to be
viable for the firm. Key metrics: Key metric will be customer loyalty towards the business. Key metric refers
to the parameters by using which performance of the business idea is measured. In the
business loyalty card scheme will be placed under which if one takes food items five time
from the company store or online marketplace then loyalty card will be issued to it and on
each purchase few points will be given. This system will reflect that which one is regular
and which is irregular. If retention rate is high then in that case it can be said that
business successful achieve its target and achieve huge success in its business. Unique value proposition: Unique selling proposition refers to the main feature of the
company product that create its specific image in the eye of the customers. Means that it
normally happened that varied firms operate in the same market but they keep some
unique features in their product because by advertising that unique product firms
differentiate their product from the competitors (Bonaccorsi, 2015). These are the unique
features that help them to beat competitors in the market. Like in same way in present
case also unique value proposition is customized food and tasty diet food without
compromising ingredients nutrition value. These two features make product line unique
in its own and will play pivotal role in accelerating growth of the company. Unfair advantage: It is hard to copy the business idea because under this concept fast
food is not prepared. Diet food is prepared which is tasty in nature and efforts are made to
maintain nutrition in the food. It can be said that not every chef can prepare such kind of
food. This is because lots of factors need to be taken in to account while preparing food
like gas temperature, ingredients mixture etc. Thus, it is possible to copy business idea
but at same time it is also very hard task to implement such kind of business idea. Thus,
rivals have unfair advantage but only to some extent. Channels: Marketing channels will be both online and offline platforms. First of all,
marketing of the product line will be done on the social media platform like Facebook.
Advertisement will be run on the specific geographic area and by doing so more and
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more people will be made aware about the company product. Thereafter, in second stage
advertisement will be prepared under which by clicking on advertisement people will be
able to visit company page and place an order for diet food. Apart from this, offline
model or brick and mortar model will also be followed under which one can come in
office premises and can take delivery of the food item. Through these two channels
marketing and sale of the firm product will be done. Customer segments: Customer segments will be all age group people who are suffered
from any specific disease like diabetes and obesity. According to disease different sort of
items will be served to the people. Cost structure: As part of cost varied expenditures will be made like HR expenses,
administrative expenses, interest expenses and other. HR expense will cover major
portion of the overall revenue as it may be 30% of total revenue. Thus, if HR expenses
remain in control then in that case good amount of profit can be gained in the business.
 Revenue streams: As part of revenue stream for different sort of patient’s variety of food
items will be served. Thus, there will be multiple products in the business. In the business
large product line need to be made because target customer size is big. If target customers
segment is large in number and size then in that case it become necessary to offer
multiple products to the people according to their needs and wants. Thus, it can be said
that revenue stream is wide and wide variety of products will be served to the people.
4. C LEVEL SPECIALIST CONTRIBUTION
Health oriented start up business are likely to become more successful by offering
personalized services by analysing the needs and wants of the customers. The Chief Executive
Officer (CEO) of the company tends to focus on taking several strategic decision in order to
attain higher operational goals and objectives. The company tends to focus on effectively
determining the various operations of the business in an efficient and systematic manner. The
CEO of the company will focus on effectively complying with the various promotional activities.
This in turn mainly focus on promotion to the products and services offered by “The Health
Selection” with the help of various social media platforms like Facebook, Instagram, Twitter,
etc. This in turn mainly helps company in reaching large number of customers in the particular
target market and customers segment (Maxwell, and et.al., 2018). The CEO of the company
should focus on determining the food allergies and various health disorders in order to provide
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high degree of care services to the customers. The CEO of the company will focus on critically
evaluating new diet plan in order to be continuously innovative and creative. The CEO focuses
on influencing the thinking of the individual in order to move towards healthy eating habits
which in turn helps in influencing the individual both physically and emotionally. The CEO of
the company tends to focus on developing an online website and mobile application which in
turn helps customers in ordering food and services. This helps in adding ease to the customers
and also focus on creating a zero time on payment in order to add to ease of delivering highly
effective customer services. This in turn helps “The Health Selection” company in increasing the
profit, sales revenue and profit margins for the set financial year. Engaging highly qualified
employees and professional and experienced dieticians in turn helps in effectively carrying out
the business operations. This helps in delivering high quality organic ingredients food by
personalizing the diet according to the individual. The CEO should focus on attracting
individuals of all demographics in order to attain a competitive position in the market (Lindh,
2017). This in turn results in high capital share and high degree of customer base for “The Health
Selection” company. The CEO of “The Health Selection” company must focus on effectively
carrying out the strategic marketing activities which in turn helps in effectively carrying out
several operations of the business in a systematic and efficient manner (Rae, and Wang, 2015).
Creation of innovative tasty healthy food helps in cresting demand for the product, which in turn
results in higher profit, sales revenue and profit margins for the particular fiscal year. The CEO
of the company should focus on critically analysing the ways of promoting and advertising the
various range of products in order to attain higher operational goals and efficiency. Giving
detailed information associated with the products and services offered by “The Health Selection”
company (Vorbach, Müller and Poandl, 2019).
(5)Financial plan summary
Focus is on diabetes and obesity patients because these two are common diseases in the UK
and is spreading on large scale. Within these two diseases two sort of dishes will be served. To
diabetes patient two items will be served namely Low fat roasties and Pan-fried venison with
blackberry sauce. On other hand, those who are suffered from obesity will get dishes namely
Chicken & Spinach Soup with Fresh Pesto and Creamy Garlic Pasta with Shrimp & Vegetables.
Price of Low fat roasties and Pan-fried venison with blackberry sauce is $50 and $40. On other
hand, price for Chicken & Spinach Soup with Fresh Pesto and Creamy Garlic Pasta with Shrimp
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& Vegetables price is $50 and $30. In the month of January number of customers for Low fat
roasties will be 143 and same for Pan-fried venison with blackberry sauce is expected to be 103.
On other hand, number of customers for Chicken & Spinach Soup is 70 and same for Creamy
Garlic Pasta with Shrimp & Vegetables price 30. Growth rate of customers on monthly basis for
Low fat roasties is 10% and same for Pan-fried venison with blackberry sauce is 5%. On other
hand, growth rate for Chicken & Spinach Soup is 30% and same for Creamy Garlic Pasta with
Shrimp & Vegetables is 30%. Administrative expense is estimated to be $5000 each month and
HR expense will be $35000; two chefs will be employed which are intern and will be guided by
the dietician. By doing so cost will be kept in control in the business. Other expenses in the
business will be $5000 per month. Along with this, interest expense will be $100 per month.
From month of January to July business will be in loss but thereafter it will have expected to
generate profit in the business. BEP value is 84 which means that each month sale to 84 people
must be made to cover overall cost of the business.
(6) Why invest in lean business opportunity?
Investment must be made in the lean business opportunity because business idea is new and
innovative in nature. It is not currently in the market. It is well known fact that doctors always
suggest people to eat diet food who are suffered from obesity and diabetes. This is because such
kind of food items are rich in nutrition. People often are not able to prepare such kind of food
items or if are able then they can not cook it in proper manner (Cheng., 2016). Such kind of
problems are resolved by the current business idea and under this quality of diet food items will
be made available to the people. Thus, it can be said that unserved needs of the people are
addressed under this business idea and due to this reason, it will gain huge popularity among
people at fast rate. Hence, revenue generation capacity of this product concept is high and it
seems viable in nature.
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REFERENCES
Books and Journals
Hayter, C.S., 2016. Constraining entrepreneurial development: A knowledge-based view of
social networks among academic entrepreneurs. Research Policy. 45(2). pp.475-490.
Maxwell, O.A and et.al., 2018. Entrepreneurship curriculum contents and entrepreneurial
development of university students in Nigeria. International Journal of
Entrepreneurship. 22(1). pp.1-9.
Lindh, I., 2017. Entrepreneurial development and the different aspects of reflection. The
International Journal of Management Education. 15(1). pp.26-38.
Rae, D. and Wang, C.L. eds., 2015. Entrepreneurial learning: New perspectives in research,
education and practice. Routledge.
Pokorná, J and et.al., 2015. Value Proposition Canvas: Identification of Pains, Gains and
Customer Jobs at Farmers' Markets. AGRIS on-line Papers in Economics and
Informatics.7(665-2016-45080), pp.123-130.
Sheehan, N.T. and Bruni-Bossio, V., 2015. Strategic value curve analysis: Diagnosing and
improving customer value propositions. Business Horizons.58(3). pp.317-324.
Vorbach, S., Müller, C. and Poandl, E., 2019. Co-creation of Value Proposition: Stakeholders
Co-creating Value Propositions of Goods and Services. In Co-Creation(pp. 51-62).
Springer, Cham.
Moore, S.L., 2020. Innovating with Health System Partners: Value Propositions and Business
Models. In Digital Health Entrepreneurship (pp. 35-46). Springer, Cham.
Bonaccorsi, G., 2015. Food and human behaviour: consumption, waste and
sustainability. Journal of public health research. 4(2).
Cheng, L.R.L., 2016. People with disabilities: the underserved and unserved. Medical Research
Archives. 4(8).
Falasconi, L and et.al., 2015. Food waste in school catering: An Italian case
study. Sustainability. 7(11). pp.14745-14760.
Online
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What is the Value Proposition Canvas?. 2019. [ONLINE]. Available
through:<https://www.b2binternational.com/research/methods/faq/what-is-the-value-
proposition-canvas/>
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APPENDIX
Table 1Number of customers, revenue and cost
Number of customers Jan
Fe
b
Ma
r
Ap
r
Ma
y Jun Jul Aug Sep Oct Nov Dec
Low fat roasties
18
0
19
8
21
8
24
0
26
4
29
0
31
9 351 386 424 467 514
Pan-fried venison
with blackberry sauce
15
0
15
8
16
5
17
4
18
2
19
1
20
1 211 222 233 244 257
Chicken & Spinach
Soup with Fresh
Pesto
18
0
23
4
30
4
39
5
51
4
66
8
86
9
112
9
146
8
190
9
248
1
322
6
Creamy Garlic Pasta
with Shrimp &
Vegetables
15
0
19
5
25
4
33
0
42
8
55
7
72
4 941
122
4
159
1
206
8
268
8
Revenue
Low fat roasties
90
00
99
00
10
89
0
11
97
9
13
17
7
14
49
5
15
94
4
175
38
192
92
212
22
233
44
256
78
Pan-fried venison
with blackberry sauce
60
00
63
00
66
15
69
46
72
93
76
58
80
41
844
3
886
5
930
8
977
3
102
62
Chicken & Spinach
Soup with Fresh
Pesto
90
00
11
70
0
15
21
0
19
77
3
25
70
5
33
41
6
43
44
1
564
74
734
16
954
40
124
073
161
294
Creamy Garlic Pasta
with Shrimp &
Vegetables
45
00
58
50
76
05
98
87
12
85
2
16
70
8
21
72
1
282
37
367
08
477
20
620
36
806
47
Cost
Low fat roasties 27 29 32 35 39 43 47 526 578 636 700 770
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