Unlockd Startup: Business Opportunities, Risks, and Recommendations

This report focuses on the business opportunities for new startup businesses, specifically analyzing the Unlockd organization, which aimed to provide a unique phone unlocking experience. The report outlines the strengths of the business idea, target market conditions, and presents a business model canvas for Unlockd. It also addresses industry-related issues, customer-related issues, critical success factors, and feasibility. Furthermore, it provides an evaluation of the feasibility of the idea, discusses the team's contributions, and concludes with recommendations for improving the business's performance and mitigating risks, emphasizing the importance of customer relationships and capitalizing on identified opportunities to achieve higher profits. The new innovative business idea focuses on a social media consulting application named Know Your Strategies. This application will help the established companies to share their knowledge through the mobile apps and make the profits as well.

Running head: THINK BIG
Think Big
Name of the Student
Name of the University
Author Note

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Abstract
The purpose of this following report is to focus on the business opportunities of the new startup
businesses. The business that has been chosen in this context is the Unlockd. This business
organization started its journey in the year 2014 with a view to provide the customers with a
unique experience when they will unlock their phones. The overview of the organization has
been given and the different issues like the strengths of business idea, target market conditions
and others have been highlighted. The business model canvas for this organization has been
portrayed as well. The opportunities, risks and recommendations have been provided.

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Table of Contents
Effective explanation of the customer/ market problem that needs solving....................................3
Persuasive argument of the benefits to be generated by the business idea......................................4
Industry related issues......................................................................................................................5
Target Market and Customer Related issues...................................................................................6
Proposed Business model................................................................................................................6
Critical Success factors....................................................................................................................8
Feasibility of the idea.......................................................................................................................8
Second part......................................................................................................................................9
Conclusion.....................................................................................................................................10
References......................................................................................................................................11
Appendices....................................................................................................................................12

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Effective explanation of the customer/ market problem that needs solving
The focus of this paper will be on the various issues reflecting in the new business
startups and the issues that are very important relating to this business. Here the new innovative
business idea will be a social media consulting application. The name of the application will be
Know Your Strategies. This application will help the established companies to share their
knowledge through the mobile apps and make the profits as well. The business model canvas for
this new innovative business idea will have to be built in order to reflect upon the several issues.
The importance of disruptive innovation in this business will have to be discussed along with the
risks. It would be very much helpful to highlight on these issues. This new innovative business
idea will look to implement various strategies to succeed in their venture.
This new innovative business idea is related to technology in Australia. This provides the
offers to the users as they get the ideas about the strategies of the various companies. They can
adopt the win-win-win model that will be highly beneficial for them. The various telcos will be
benefitted from the plans to provide the users with the best experience to get the rewards. The
service users will get the best rewards from these issues
The chosen business idea works in the technology sector and they give their users several
types of ideas through the mobile apps (Christensen, Raynor & McDonald, 2016). They are very
keen on providing a new way to the customers so they can get the best experience if using their
mobile devices. The users will feel new types of experiences that will engage them with the
various advertisements or contents. The new idea will present the customers with the ideas and
strategies of the various companies that would be helpful for them. They can also select the
categories related to their interest. This will enhance their experiences as well. This new
experience in handling the digital devices would surely be effective for the organization and

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customers. The use of technology will be the foremost priority in this section (Christensen,
Raynor & McDonald, 2015).
Persuasive argument of the benefits to be generated by the business idea
Low Potential (-1) Moderate potential (0) High potential (+1)
1. Extent to which the
idea:
 Takes
advantage of
an
environmental
trend
 Solves
problem
 Addressed an
unfilled gap in
the market
Weak Moderate Strong
Timelines of entry to
market
Not timely Moderately timely Very timely
Extent to which the idea
‘adds value’ for its
buyer or end user
Low Medium Higher
Extent to which the
customer is satisfied by
Very satisfied Moderately satisfied Not very satisfied or
ambivalent

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competing products that
are already available
Degree to which the
idea requires customers
to change their basic
practices or behaviors
Substantial/ changes
required
Moderate changes
required
Small to no changes
required
Industry related issues
Low Potential (-1) Moderate potential (0) High potential (+1)
Number of competitors Many Few None
Stage of in ustry life
cycle
Maturity phase of
decline phase
Growth phase Emergence phase
Growth rate of industry Little or no growth Moderate growth Strong growth
Importance of industry’s
products and services to
customers
Ambivalent Would like to have Must have
Industry operating
margins
Low Moderate High
Target Market and Customer Related issues
Low Potential (-1) Moderate potential (0) High potential (+1
Identification of the
target market for the
Difficult to identify May be able to identify Identified

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proposed new venture
Ability to create
‘barriers to entry’ for
potential competitors
Unable to create May or may not be able
to create
Identified
Purchasing power of
customers
Low Moderate High
Ease of making
customers aware of the
new product or service
Low Moderate High
Growth potential of
target market
Low Moderate High
Proposed Business model
Key Partner
The key partners are
the various online ad
content creators and
the manufacturers of
the digital devices
like the smartphones
and tablets. The
companies providing
the technological
products are also
Key Activities
The key
activities of this
new innovative
business idea
are to make
improvements
on the
technology
based services.
The
Value
Proposition
The online
storage media
can be one of
the most useful
things for their
technological
innovation.
Customer
Relationships
The new
innovative
business idea is
very keen on
reaching the
customers very
easily mitigate
all the issues
they face. The
Customer Segments
The customer
segments should be
the youth of the
country from the age
group of 18 to 30.
They are very much
tech savvy and they
like to use their
smartphones very

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identified as the key
partners of the new
innovative business
idea (Muhtaroglu et
al., 2013).
promotional
activities
should be done
through the
social media
campaigns for
this
organization
Armstrong et
al., 2015). The
new mobile
apps developed
by the software
developers will
help the
customers to
get a unique
experience
indeed.
new innovative
business idea
intends to
provide the
customers with
the best
experiences on
digital devices
(Chaffey &
Ellis-
Chadwick,
2016).
often.
Key Resources
The key
resources for
the success of
this new
innovative
Channels
The distribution
channels for the
marketing
process of this
business will be

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business idea
are mainly the
social media
platforms like
Facebook,
Instagram and
others (Chaffey
& Smith,
2013).
.
the social
media channels
and the
contents printed
on the social
media.
Cost Structure
Data center costs- 15%
Administrative costs- 10%
Research and development costs- 10%. They can
use the price skimming strategies to venture into
the markets.
Revenue Streams
This new innovative business idea can enable the
customers to gain the knowledge of the strategies
of their favorite brands and this would increase
the following the mobile application of the
developers as well. The social media platforms
will help the business idea to develop for the
benefits of the customers. (Garnefeld et al., 2013).
Critical Success factors
The critical success factors for new innovative business idea are:-
 They can form tie ups with the best brands of telcos and digital device manufacturers.
 The use of technology should be very sharp and able to attract more customers
(Hakansson, 2015).

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 They should make advertisements in the popular ways to catch up with the youth.
Feasibility of the idea
 The mobile applications for this company have not changed for a while now. The
updating process will have to take place indeed.
 If the revenue of the organization does not increase, they will lose the significant
investors from their disposal.
Some recommendations have to be given in this section to improve the business
performance of the new innovative business idea. One of their most significant aims will be to
provide a deep insight on the financial performance of the company.
 Their initial capital investment of the company is moderate so they have to improve their
financial performance.
 The revenue streams should be increased so they can impose higher benefits into their
industry performance (Borman & Motowidlo, 2014).
Second part
First Member Second member Third member
I am the first member in this
team and I have worked on to
collect the secondary data about
the products and services of the
organization, The brand
The second member has worked
on to have a market survey
about the effectiveness of the
services the organization
Unlockd provides. The market
The third member has
contributed to find out the
strengths and weaknesses this
organization have. It will be
very important for the

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reputation of the organization
has been evaluated by me as
well. The initial things about
the organization have been
collected by me for further
research.
share of this organization has
also been filled up by me. This
has been very important to have
a view about the current market
condition of the organization.
organization to measure these
weaknesses and take prompt
actions. He has also contributed
to prepare the business model
canvas for this organization.
The risk factors for this
organization have been
measured and discussed
properly by the third member.
Conclusion
This paper can be concluded by saying that Unlockd has been very successful in trying to
venture into the market of technology startups in Australia. They should try to utilize the various
opportunities they have identified. These opportunities will help them to get the best results in
their firm performance. They have to reach to the customers so they can build up a good
customer relationship. The risks and challenges will have to be mitigated in order to make the
higher profits.

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References
Armstrong, G., Kotler, P., Harker, M., & Brennan, R. (2015). Marketing: an introduction.
Pearson Education.
Borman, W. C., & Motowidlo, S. J. (Eds.). (2014). Organizational citizenship behavior and
contextual performance: A special issue of human performance. Psychology Press.
Chaffey, D., & Ellis-Chadwick, F. (2016). Digital marketing. Prentice Hall.
Chaffey, D., & Smith, P. R. (2013). eMarketing eXcellence: Planning and optimizing your
digital marketing. Routledge.
Christensen, C. M., Raynor, M. E., & McDonald, R. (2015). What is disruptive
innovation. Harvard Business Review, 93(12), 44-53.
Christensen, C. M., Raynor, M. E., & McDonald, R. (2016). What is disruptive Innovation. The
Encyclopedia of Human-Computer Interaction, 2.
Garnefeld, I., Eggert, A., Helm, S. V., & Tax, S. S. (2013). Growing existing customers' revenue
streams through customer referral programs. Journal of Marketing, 77(4), 17-32.
Hakansson, H. (Ed.). (2015). Industrial Technological Development (Routledge Revivals): A
Network Approach. Routledge.
Muhtaroglu, F. C. P., Demir, S., Obali, M., & Girgin, C. (2013, October). Business model canvas
perspective on big data applications. In Big Data, 2013 IEEE International Conference
on (pp. 32-37). IEEE.