The submission
should follow the following format:
1. Business
Venture Identification & Market Analysis
Provide context to your new business venture and
undertake a market analysis to endorse the need for your business within your
chosen sector, location, and competition. This should include:
1.1 Business Venture
Identification: Explain why the entrepreneurial mindset is important when setting
up your new venture. What type of enterprise are you developing and which
market opportunity/challenge does it serves to provide a
solution to?
1.2 Market Analysis: What disruptions, current innovations, and
future trends provide opportunity for your business venture within the chosen
market?
1.3 MACRO Environmental
Factor Analysis: PESTEL and Porters Five Forces: in table format
and discussed with referenced sources.
1.4. Competition
Analysis: How will you compete in the chosen market: what
is its competitive advantage: considering the problem you decided to solve or
opportunity that presents itself, what solutions/alternatives are currently
available in the market? These could be direct or substitute products.
a) Competitor
Analysis: Benchmark your product against your competitor:
compare features and benefits/strengths and weaknesses. In table format and
discussed with referenced sources.
b) Positioning
map: Complete a positioning map with axes that align to your
competitor analysis.
2. Business
Model and Value Proposition
2.1 Utilise the
Business Model Canvas (BMC) diagrammatically with a discussion of the key
pillars to detail the business activities of your new business venture.
2.2 Present
persona/s for your customer segment/s.
2.3. Apply the
Value Proposition Canvas (VPC) to your product or service to determine the
value your business offers to its customer segment/s.
3. Solution
Design
3.1 Discuss the
features, benefits and the USP of the product or service delivered by your new
business venture.
3.2 Provide
visuals of your product/service to include at least one of the following: a
flow chart of the customer journey, operational process diagram, prototype/
minimal viable product which you plan to take to market.
4. Viability of
the Business Plan
4.1 Establish
your start-up costs to determine the amount of capital required. Using the
provided template, detail the justified key resources required to take your
product or service to market.
4.2 Apply the
sharing economy canvas to keep the cost of resources to a minimum.
4.3 Where will
your capital come from? Discuss how your business will be attractive to
investors (entrepreneurial capital).
5.Conclusion
This is a summary
of your report to establish the need for your new business venture.
