The Entrepreneurship Plan foundations are designed to discuss the basic theories and concepts of entrepreneurship. They also differentiate between discovery and creation of entrepreneurial opportunities. The tools, materials, structure and educational platform discussed provides a great learning experience for entrepreneurs and students.
The tools and content are structured with a complete business plan using online business plans and other tools. The package includes different modules, tools, ancillary materials and different manual. The modules are also discussed in detail:
The module introduces the difference between discovered opportunities and created entrepreneurial opportunities. The question arises, the market for Starbucks coffee was created or discovered. How the entrepreneurial ideas are formulated is also discussed. It also discusses why the students or other entrepreneurs pursue ideas that are related to passions, personal strengths, and values. This will help to create ideas and develop individually or in a group.
Applying a Discovery Process:
The module deals with finding ideas and opportunities. It focuses on opportunities coming from observations, gaps in the market and trends. Thus, building the solutions to a problem customer faces, within that gap or trend. The module also defines how an opportunity and an idea are different, on the basis of market size and the ability of the entrepreneur to face the identified problem. It discusses analyzing the opportunities to check if the elements are required for a successful business and understanding the basis of these elements. The entrepreneurs test them methodically and then execute the plan.
Applying a Creation Process:
The module defines how an opportunity can be created and how the processes of creating ideas are different from discovery processes. This step requires a lot of experimentation to determine and deciding the product to offer and how to offer.
The module answer the questions like how to make an effective team and why the teams are different for creation and discovery processes. The module also discusses why the teams are needed, building the team in limited resources, leading a team. Different types of leadership styles, theories about discovery opportunity leader and the characteristics of a successful opportunity leader are also discussed in the module.
Calculating Financial Needs:
The module focuses on how to calculate the different financial requirements while starting a new business or a venture. It focuses on the estimation of startup costs, minimizing the cost and then refining the business model via Lean Startup techniques.
Determining the Target Market:
Defining who will be the customers and how will they behave. Identification of people’s activities within the market is done in this module. This also focuses on the presentation of product and if the product is required to be updated according to customer’s needs.
Acquiring Valuable Customers:
The module discusses the ways to find the customers. The sales and marketing must be balanced carefully to utilize the limited resources effectively and efficiently. It also discusses the specific development activities, how they are different, and how to determine the activities to reach the potential customers.
Evaluating the Competition:
It is essential for entrepreneurs to determine the competitive landscape in which they are working. This module helps to analyze the competition: direct and indirect competitors, their offer, how they reach the customers and their prices.
Funding the New Venture:
This is about finding investors. It discusses the sources of cash or money to be invested and what other resources are required for the new venture.