MGMT20143 Think Big: Nurapod Startup Idea and Business Overview

This report presents an overview of the Nurapod business startup, focusing on its core business idea of a customized sound system. It evaluates the business's strengths, weaknesses, opportunities, and threats, including cash flow, customer satisfaction, and potential for innovation. The report delves into the business model, analyzing key aspects such as customer segments, value proposition, key activities, channels, revenue streams, and cost structure, all within the framework of a business model canvas. Financial projections, including break-even analysis and cash flow forecasts, are also presented to assess the business's viability and potential for growth. The report emphasizes the importance of product development, customer engagement, and strategic improvements to enhance the Nurapod business idea. References to relevant literature are included.

OVERVIEW OF
BUSINESS STARTUP

 Immense popularity of start-up
 Start-ups are becoming important as it provides the owner a sense
of independence and an opportunity for leaving a mark on the
world.
 It helps in providing a sense of innovation and novelty in the
business world
 The presentation deals with the start up idea is about Nurapod
music system.
IDEA OF BUSINESS AND
EVALUATION OF FRAMEWORK

 Strengths- Cash flow, cash position, high level of customer
satisfaction.
 Weakness- Low rise of investors, lack of development in the area.
 Opportunities- Providing job opportunity to many people
 Threats- Less variation, few designs
IDEA OF BUSINESS AND
EVALUATION OF FRAMEWORK

 The business idea of Nurapod is selected due to a number of
reasons-
 The business is more profitable
 The breakeven of the business needs less time compared to the
others
 customized sound system is the concern of the organization
 the company allows customer to be its subscriber of the
company’s product with the minimum of $10 per month and the
maximum of $18 per month
 the idea of dealing with technology business especially related to
headphone market is a highly profitable business idea which
supports the effective business strategy.
SELECTION OF THE IDEA

 The business idea of Nurapod is affective owing to the following
additional reasons-
 The revenue generation of the business idea is appreciable
 public interest on music activities allow the business to depict
best revenue generation ability
 The manufacturing cost of the microphone is lesser while the
products bring good revenue when a well made product with
better sound quality is sold at higher price.
SELECTION OF THE IDEA

The Nurapod can be improved in the following grounds-
 The Nurapods business idea needs to focus on the product
creation with latest technology.
 Enhancing the efficiency of the product
 The efficiency of the product will increase the number of
consumer and create a strong goodwill for the company
 Working on the sound quality of the product
IMPROVEMENTS

 The business needs to enhance and improve the shipment
activities of the company.
 The company can focus on building various new variety of
products and new range of devices.
 The system of business idea needs to be updated and improved in
terms of microphones and other technology.
 Making the product more colorful and attractive.
IMPROVEMENTS

 It has been found that latest technology has been embedded and
latest design of the microphone has been developed. These
microphones affect human ears.
 The business model needs to develop a product that will reduce
the health risk
 Business idea of Nurapods needs to adopt corporate social
responsibility in order to protect environment and human lives too
 The monthly subscription needs to allow some flexibility to
develop an idea that will attract more customer with ease
 The technical issues needs to be resolved with the help of
effective communicative technique of the business model
GAPS THAT ARE NEEDED TO BE
ADDRESSED

The business model canvas of an organization needs to be framed but
little amendment is accepted. The business model of Nurapods consists of-
 Infrastructure
 Key Resources
 Key Activities
The business model needs to create an effective supply chain by recruiting
an efficient workforce, manufacturing good quality product and
maintaining the following-
 Offerings- It needs to develop a system that will support in manufacturing
quality product and service to the customer. The business model
constantly needs to innovate, perform and customize. The business also
needs to focus on reduction of product’s cost and lowering the cost of the
product.
BUSINESS MODEL CANVAS

 Customers- In order to establish a business model, the business
needs to focus on the availability of the customer in the area. It
needs to focus on mass market, niche market, segment market
and diversification of the customer.
 Channels- The business model needs to deliver the value
proposition to its customer using different channel. The business
model can reach its core customer by developing its own channel.
The customer relationship is also important to maintain and handle
for a steady business.
BUSINESS MODEL CANVAS

CASH FLOW PROJECTION

COST STRUCTURE